Touchstone ETF Trust
08/31/2026 | Press release | Distributed by Public on 08/31/2026 11:47
Semi-Annual Report by Investment Company (Form N-CSRS)
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
811-23789
Touchstone ETF Trust
(Exact name of registrant as specified in charter)
303 Broadway, Suite 1100
Cincinnati, Ohio 45202-4203
Cincinnati, Ohio 45202-4203
Registrant's telephone number, including area code:
800-638-8194
Date of fiscal year end:
December 31
Date of reporting period:
June 30, 2026
Item 1. Reports to Stockholders.
(a) The Report to Shareholders is attached herewith.
TABLE OF CONTENTS
|
Touchstone Dividend Select ETF |
|
|
Touchstone Dynamic International ETF |
|
|
Touchstone International Equity ETF |
|
|
Touchstone Sands Capital Emerging Markets ex-China Growth ETF |
|
|
Touchstone Sands Capital US Select Growth ETF |
|
|
Touchstone Securitized Income ETF |
|
|
Touchstone Strategic Income ETF |
|
|
Touchstone Ultra Short Income ETF |
|
|
Touchstone US Large Cap Focused ETF |
|
Touchstone Dividend Select ETF
DVND | NYSE Arca, Inc.
SEMI-ANNUAL SHAREHOLDER REPORT | June 30, 2026
This semi-annual shareholder report contains important information about the Touchstone Dividend Select ETF ("Fund") for the period January 1, 2026 to June 30, 2026. You can find additional information about the Fund at touchstoneinvestments.com/ETFs. You can also request this information by contacting us at 1.833.368.7383.
Fund Expenses
| Fund |
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
| Touchstone Dividend Select ETF | $26 | 0.49% |
Key Fund Statistics
| Fund net assets | $52,709,193 |
| Total number of portfolio holdings | 56 |
| Portfolio turnover rate | 7% |
Graphical Representation of Holdings
Sector Allocation (% of Net Assets)
| Information Technology | 23.8% |
| Financials | 14.1% |
| Health Care | 12.0% |
| Industrials | 9.9% |
| Communication Services | 8.1% |
| Consumer Staples | 8.0% |
| Consumer Discretionary | 7.0% |
| Materials | 4.4% |
| Energy | 3.9% |
| Utilities | 3.1% |
| Real Estate | 2.3% |
| Short-Term Investment Fund | 3.5% |
| Other Assets/Liabilities (Net) | (0.1)% |
| Total | 100.0% |
Availability of Additional Information
You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/ETFs or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at touchstoneinvestments.com/Resources. You can also request this information by contacting us at 1.833.368.7383.
ETF-ETFT-SR-DVND-2606
Touchstone Dynamic International ETF
TDI | The Nasdaq Stock Market LLC
SEMI-ANNUAL SHAREHOLDER REPORT | June 30, 2026
This semi-annual shareholder report contains important information about the Touchstone Dynamic International ETF ("Fund") for the period January 1, 2026 to June 30, 2026. You can find additional information about the Fund at touchstoneinvestments.com/ETFs. You can also request this information by contacting us at 1.833.368.7383.
Fund Expenses
| Fund |
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
| Touchstone Dynamic International ETF | $35 | 0.65% |
Key Fund Statistics
| Fund net assets | $360,523,307 |
| Total number of portfolio holdings | 113 |
| Portfolio turnover rate | 35% |
Graphical Representation of Holdings
Sector Allocation (% of Net Assets)
| Information Technology | 26.8% |
| Financials | 22.6% |
| Industrials | 15.2% |
| Energy | 8.7% |
| Health Care | 7.1% |
| Materials | 6.4% |
| Consumer Discretionary | 4.5% |
| Communication Services | 4.0% |
| Utilities | 1.1% |
| Consumer Staples | 0.6% |
| Short-Term Investment Fund | 3.3% |
| Other Assets/Liabilities (Net) | (0.3)% |
| Total | 100.0% |
Geographical Allocation (% of Net Assets)
| Common Stocks | |
| Japan | 15.9% |
| Taiwan | 9.5% |
| South Korea | 7.0% |
| Netherlands | 6.8% |
| Italy | 6.8% |
| Canada | 6.5% |
| China | 6.0% |
| India | 4.7% |
| United Kingdom | 4.0% |
| Other Countries | 28.6% |
| Preferred Stocks | 1.2% |
| Short-Term Investment Fund | 3.3% |
| Other Assets/Liabilities (Net) | (0.3)% |
| Total | 100.0% |
Availability of Additional Information
You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/ETFs or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at touchstoneinvestments.com/Resources. You can also request this information by contacting us at 1.833.368.7383.
ETF-ETFT-SR-TDI-2606
Touchstone International Equity ETF
TLCI | NYSE Arca, Inc.
SEMI-ANNUAL SHAREHOLDER REPORT | June 30, 2026
This semi-annual shareholder report contains important information about the Touchstone International Equity ETF ("Fund") for the period January 1, 2026 to June 30, 2026. You can find additional information about the Fund at touchstoneinvestments.com/ETFs. You can also request this information by contacting us at 1.833.368.7383.
Fund Expenses
| Fund |
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
| Touchstone International Equity ETF | $19 | 0.37% |
Key Fund Statistics
| Fund net assets | $110,890,133 |
| Total number of portfolio holdings | 31 |
| Portfolio turnover rate | 7% |
Graphical Representation of Holdings
Sector Allocation (% of Net Assets)
| Industrials | 21.5% |
| Consumer Staples | 14.3% |
| Information Technology | 13.5% |
| Consumer Discretionary | 11.4% |
| Health Care | 11.1% |
| Financials | 9.4% |
| Materials | 9.0% |
| Communication Services | 6.9% |
| Short-Term Investment Fund | 2.7% |
| Other Assets/Liabilities (Net) | 0.2% |
| Total | 100.0% |
Geographical Allocation (% of Net Assets)
| Common Stocks | |
| United States | 21.9% |
| United Kingdom | 21.1% |
| Netherlands | 11.9% |
| Switzerland | 7.3% |
| France | 7.1% |
| Germany | 6.7% |
| Taiwan | 6.3% |
| Spain | 3.4% |
| Canada | 3.2% |
| Other Countries | 8.2% |
| Short-Term Investment Fund | 2.7% |
| Other Assets/Liabilities (Net) | 0.2% |
| Total | 100.0% |
Availability of Additional Information
You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/ETFs or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at touchstoneinvestments.com/Resources. You can also request this information by contacting us at 1.833.368.7383.
ETF-ETFT-SR-TLCI-2606
Touchstone Sands Capital Emerging Markets ex-China Growth ETF
TEMX | CBOE BZX EXCHANGE, INC.
SEMI-ANNUAL SHAREHOLDER REPORT | June 30, 2026
This semi-annual shareholder report contains important information about the Touchstone Sands Capital Emerging Markets ex-China Growth ETF ("Fund") for the period January 1, 2026 to June 30, 2026. You can find additional information about the Fund at touchstoneinvestments.com/ETFs. You can also request this information by contacting us at 1.833.368.7383.
Fund Expenses
| Fund |
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
|
Touchstone Sands Capital Emerging Markets ex-China Growth ETF |
$45 | 0.79% |
Key Fund Statistics
| Fund net assets | $13,428,680 |
| Total number of portfolio holdings | 41 |
| Portfolio turnover rate | 13% |
Graphical Representation of Holdings
Sector Allocation (% of Net Assets)
| Information Technology | 43.5% |
| Financials | 18.5% |
| Industrials | 12.2% |
| Consumer Discretionary | 11.5% |
| Consumer Staples | 6.5% |
| Communication Services | 2.6% |
| Health Care | 2.0% |
| Real Estate | 1.8% |
| Short-Term Investment Fund | 1.2% |
| Other Assets/Liabilities (Net) | 0.2% |
| Total | 100.0% |
Geographical Allocation (% of Net Assets)
| Common Stocks | |
| South Korea | 29.8% |
| Taiwan | 23.1% |
| India | 18.8% |
| Brazil | 9.7% |
| Singapore | 3.9% |
| Other Countries | 13.3% |
| Short-Term Investment Fund | 1.2% |
| Other Assets/Liabilities (Net) | 0.2% |
| Total | 100.0% |
Availability of Additional Information
You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/ETFs or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at touchstoneinvestments.com/Resources. You can also request this information by contacting us at 1.833.368.7383.
ETF-ETFT-SR-TEMX-2606
Touchstone Sands Capital US Select Growth ETF
TSEL | THE NASDAQ STOCK MARKET LLC
SEMI-ANNUAL SHAREHOLDER REPORT | June 30, 2026
This semi-annual shareholder report contains important information about the Touchstone Sands Capital US Select Growth ETF ("Fund") for the period January 1, 2026 to June 30, 2026. You can find additional information about the Fund at touchstoneinvestments.com/ETFs. You can also request this information by contacting us at 1.833.368.7383.
Fund Expenses
| Fund |
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
| Touchstone Sands Capital US Select Growth ETF | $34 | 0.67% |
Key Fund Statistics
| Fund net assets | $83,480,575 |
| Total number of portfolio holdings | 29 |
| Portfolio turnover rate | 29% |
Graphical Representation of Holdings
Sector Allocation (% of Net Assets)
| Information Technology | 47.8% |
| Communication Services | 18.8% |
| Industrials | 13.9% |
| Financials | 9.4% |
| Consumer Discretionary | 8.0% |
| Health Care | 1.0% |
| Short-Term Investment Fund | 1.2% |
| Other Assets/Liabilities (Net) | (0.1)% |
| Total | 100.0% |
Availability of Additional Information
You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/ETFs or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at touchstoneinvestments.com/Resources. You can also request this information by contacting us at 1.833.368.7383.
ETF-ETFT-SR-TSEL-2606
Touchstone Securitized Income ETF
TSEC | NYSE Arca, Inc.
SEMI-ANNUAL SHAREHOLDER REPORT | June 30, 2026
This semi-annual shareholder report contains important information about the Touchstone Securitized Income ETF ("Fund") for the period January 1, 2026 to June 30, 2026. You can find additional information about the Fund at touchstoneinvestments.com/ETFs. You can also request this information by contacting us at 1.833.368.7383.
Fund Expenses
| Fund |
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
| Touchstone Securitized Income ETF | $20 | 0.39% |
Key Fund Statistics
| Fund net assets | $159,258,249 |
| Total number of portfolio holdings | 128 |
| Portfolio turnover rate | 17% |
Graphical Representation of Holdings
Asset Category (% of Net Assets)
| Commercial Mortgage-Backed Securities | 36.7% |
| Asset-Backed Securities | 35.1% |
| Non-Agency Collateralized Mortgage Obligations | 15.8% |
| U.S. Government Mortgage-Backed Obligations | 2.6% |
| U.S. Treasury Obligations | 1.9% |
| Agency Collateralized Mortgage Obligations | 0.4% |
| Corporate Bonds | 0.2% |
| Short-Term Investment Fund | 9.6% |
| Other Assets/Liabilities (Net) | (2.3)% |
| Total | 100.0% |
Credit Quality* (% of Fixed Income Securities)
| AAA/Aaa | 20.1% |
| AA/Aa | 14.4% |
| A/A | 12.0% |
| BBB/Baa | 37.1% |
| BB/Ba | 13.0% |
| B/B | 1.4% |
| CCC | 0.2% |
| CC | 0.3% |
| Not Rated | 1.5% |
| Total | 100.0% |
* Credit quality ratings are from S&P Global Ratings ("S&P") and Moody's Investors Service ("Moody's"). If agency ratings differ, the higher ratings will be used. Where no rating has been assigned, it may be for reasons unrelated to the creditworthiness of the issuer.
Availability of Additional Information
You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/ETFs or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at touchstoneinvestments.com/Resources. You can also request this information by contacting us at 1.833.368.7383.
ETF-ETFT-SR-TSEC-2606
Touchstone Strategic Income ETF
SIO | NYSE Arca, Inc.
SEMI-ANNUAL SHAREHOLDER REPORT | June 30, 2026
This semi-annual shareholder report contains important information about the Touchstone Strategic Income ETF ("Fund") for the period January 1, 2026 to June 30, 2026. You can find additional information about the Fund at touchstoneinvestments.com/ETFs. You can also request this information by contacting us at 1.833.368.7383.
Fund Expenses
| Fund |
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
| Touchstone Strategic Income ETF | $24 | 0.49% |
Key Fund Statistics
| Fund net assets | $267,361,660 |
| Total number of portfolio holdings | 220 |
| Portfolio turnover rate | 89% |
Graphical Representation of Holdings
Asset Category (% of Net Assets)
| Corporate Bonds | 44.3% |
| U.S. Treasury Obligations | 29.8% |
| Commercial Mortgage-Backed Securities | 8.5% |
| Asset-Backed Securities | 8.4% |
| Non-Agency Collateralized Mortgage Obligations | 3.9% |
| Common Stocks | 1.6% |
| Sovereign Government Obligations | 0.7% |
| U.S. Government Mortgage-Backed Obligations | 0.7% |
| Short-Term Investment Fund | 3.1% |
| Other Assets/Liabilities (Net) | (1.0)% |
| Total | 100.0% |
Credit Quality* (% of Fixed Income Securities)
| AAA/Aaa | 33.2% |
| AA/Aa | 8.1% |
| A/A | 11.1% |
| BBB/Baa | 31.5% |
| BB/Ba | 9.5% |
| B/B | 5.2% |
| CCC | 0.6% |
| CC | 0.3% |
| C or Lower | 0.2% |
| Not Rated | 0.3% |
| Total | 100.0% |
* Credit quality ratings are from S&P Global Ratings ("S&P") and Moody's Investors Service ("Moody's"). If agency ratings differ, the higher ratings will be used. Where no rating has been assigned, it may be for reasons unrelated to the creditworthiness of the issuer.
Availability of Additional Information
You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/ETFs or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at touchstoneinvestments.com/Resources. You can also request this information by contacting us at 1.833.368.7383.
ETF-ETFT-SR-SIO-2606
Touchstone Ultra Short Income ETF
TUSI | Cboe BZX Exchange, Inc.
SEMI-ANNUAL SHAREHOLDER REPORT | June 30, 2026
This semi-annual shareholder report contains important information about the Touchstone Ultra Short Income ETF ("Fund") for the period January 1, 2026 to June 30, 2026. You can find additional information about the Fund at touchstoneinvestments.com/ETFs. You can also request this information by contacting us at 1.833.368.7383.
Fund Expenses
| Fund |
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
| Touchstone Ultra Short Income ETF | $13 | 0.25% |
Key Fund Statistics
| Fund net assets | $577,414,652 |
| Total number of portfolio holdings | 241 |
| Portfolio turnover rate | 33% |
Graphical Representation of Holdings
Asset Category (% of Net Assets)
| Asset-Backed Securities | 40.2% |
| Corporate Bonds | 21.5% |
| Commercial Mortgage-Backed Securities | 18.9% |
| Non-Agency Collateralized Mortgage Obligations | 8.2% |
| Commercial Paper | 6.4% |
| U.S. Treasury Obligations | 0.8% |
| Short-Term Investment Fund | 4.4% |
| Other Assets/Liabilities (Net) | (0.4)% |
| Total | 100.0% |
Credit Quality* (% of Fixed Income Securities)
| AAA/Aaa | 44.3% |
| AA/Aa | 15.8% |
| A/A | 19.4% |
| BBB/Baa | 18.0% |
| BB/Ba | 1.9% |
| B/B | 0.6% |
| Total | 100.0% |
* Credit quality ratings are from S&P Global Ratings ("S&P") and Moody's Investors Service ("Moody's"). If agency ratings differ, the higher ratings will be used. Where no rating has been assigned, it may be for reasons unrelated to the creditworthiness of the issuer.
Availability of Additional Information
You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/ETFs or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at touchstoneinvestments.com/Resources. You can also request this information by contacting us at 1.833.368.7383.
ETF-ETFT-SR-TUSI-2606
Touchstone US Large Cap Focused ETF
LCF | Cboe BZX Exchange, Inc.
SEMI-ANNUAL SHAREHOLDER REPORT | June 30, 2026
This semi-annual shareholder report contains important information about the Touchstone US Large Cap Focused ETF ("Fund") for the period January 1, 2026 to June 30, 2026. You can find additional information about the Fund at touchstoneinvestments.com/ETFs. You can also request this information by contacting us at 1.833.368.7383.
Fund Expenses
| Fund |
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
| Touchstone US Large Cap Focused ETF | $28 | 0.55% |
Key Fund Statistics
| Fund net assets | $64,677,931 |
| Total number of portfolio holdings | 46 |
| Portfolio turnover rate | 6% |
Graphical Representation of Holdings
Sector Allocation (% of Net Assets)
| Information Technology | 33.8% |
| Communication Services | 16.7% |
| Financials | 13.4% |
| Health Care | 10.0% |
| Consumer Discretionary | 8.0% |
| Industrials | 7.3% |
| Consumer Staples | 4.2% |
| Energy | 2.2% |
| Real Estate | 1.3% |
| Materials | 0.6% |
| Short-Term Investment Fund | 3.6% |
| Other Assets/Liabilities (Net) | (1.1)% |
| Total | 100.0% |
Availability of Additional Information
You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/ETFs or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at touchstoneinvestments.com/Resources. You can also request this information by contacting us at 1.833.368.7383.
ETF-ETFT-SR-LCF-2606
| (b) | Not applicable. |
Item 2. Code of Ethics.
Not applicable.
Item 3. Audit Committee Financial Expert.
Not applicable.
Item 4. Principal Accountant Fees and Services.
Not applicable.
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Investments.
| (a) | Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is included as part of the report to shareholders filed under Item 7 of this Form. |
| (b) | Not applicable. |
Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.
The financial statements including the financial highlights are attached herewith.
June 30, 2026 (Unaudited)
Semi-Annual
Financial Statements
| Touchstone ETF Trust |
| Touchstone Dividend Select ETF |
| Touchstone Dynamic International ETF |
| Touchstone International Equity ETF |
| Touchstone Sands Capital Emerging Markets ex-China Growth ETF |
| Touchstone Sands Capital US Select Growth ETF |
| Touchstone Securitized Income ETF |
| Touchstone Strategic Income ETF |
| Touchstone Ultra Short Income ETF |
| Touchstone US Large Cap Focused ETF |
Table of Contents
| Page | |
| Portfolios of Investments: | |
| Touchstone Dividend Select ETF | 3 |
| Touchstone Dynamic International ETF | 4-6 |
| Touchstone International Equity ETF | 7-8 |
| Touchstone Sands Capital Emerging Markets ex-China Growth ETF | 9-10 |
| Touchstone Sands Capital US Select Growth ETF | 11 |
| Touchstone Securitized Income ETF | 12-14 |
| Touchstone Strategic Income ETF | 15-19 |
| Touchstone Ultra Short Income ETF | 20-24 |
| Touchstone US Large Cap Focused ETF | 25 |
| Statements of Assets and Liabilities | 26-27 |
| Statements of Operations | 28-29 |
| Statements of Changes in Net Assets | 30-32 |
| Financial Highlights | 33-35 |
| Notes to Financial Statements | 36-49 |
| Other Items | 50 |
This report identifies the Funds' investments on June 30, 2026. These holdings are subject to change. Not all investments in each Fund performed the same, nor is there any guarantee that these investments will perform as well in the future. Market forecasts provided in this report may not occur.
2
Table of Contents
Portfolio of Investments
Touchstone Dividend Select ETF - June 30, 2026 (Unaudited)
| Shares |
Market Value |
|||
| Common Stocks - 96.6% | ||||
| Information Technology - 23.8% | ||||
| 2,445 | Analog Devices, Inc. | $ 971,081 | ||
| 4,663 | Apple, Inc. | 1,349,286 | ||
| 4,731 | Broadcom, Inc. | 1,787,135 | ||
| 10,139 | Cisco Systems, Inc. | 1,190,927 | ||
| 3,359 | International Business Machines Corp. | 944,584 | ||
| 5,436 | KLA Corp. | 1,640,096 | ||
| 5,400 | Microsoft Corp. | 2,014,308 | ||
| 4,542 | Oracle Corp. | 665,630 | ||
| 4,993 | QUALCOMM, Inc. | 922,656 | ||
| 3,484 | Texas Instruments, Inc. | 1,038,476 | ||
| 12,524,179 | ||||
| Financials - 14.1% | ||||
| 19,799 | Bank of America Corp. | 1,128,147 | ||
| 859 | Blackrock, Inc. | 825,980 | ||
| 8,743 | Charles Schwab Corp. (The) | 806,716 | ||
| 835 | Goldman Sachs Group, Inc. (The) | 844,494 | ||
| 2,627 | JPMorgan Chase & Co. | 859,896 | ||
| 15,442 | US Bancorp | 932,697 | ||
| 3,230 | Visa, Inc. - Class A | 1,108,181 | ||
| 11,124 | Wells Fargo & Co. | 919,287 | ||
| 7,425,398 | ||||
| Health Care - 12.0% | ||||
| 4,365 | Becton Dickinson & Co. | 660,555 | ||
| 9,298 | CVS Health Corp. | 961,878 | ||
| 4,910 | Johnson & Johnson | 1,246,993 | ||
| 10,437 | Medtronic PLC | 816,487 | ||
| 7,850 | Merck & Co., Inc. | 1,008,725 | ||
| 29,707 | Pfizer, Inc. | 715,345 | ||
| 2,213 | UnitedHealth Group, Inc. | 919,789 | ||
| 6,329,772 | ||||
| Industrials - 9.9% | ||||
| 5,117 | 3M Co. | 828,494 | ||
| 1,082 | Caterpillar, Inc. | 1,152,222 | ||
| 1,437 | Deere & Co. | 911,532 | ||
| 1,211 | Lockheed Martin Corp. | 616,956 | ||
| 4,140 | RTX Corp. | 785,482 | ||
| 9,568 | Stanley Black & Decker, Inc. | 900,540 | ||
| 5,195,226 | ||||
| Communication Services - 8.1% | ||||
| 3,685 | Alphabet, Inc. - Class C | 1,302,021 | ||
| 31,751 | AT&T, Inc. | 657,246 | ||
| 27,345 | Comcast Corp. - Class A | 671,320 | ||
| 1,487 | Meta Platforms, Inc. - Class A | 837,612 | ||
| 19,355 | Verizon Communications, Inc. | 819,490 | ||
| 4,287,689 | ||||
| Consumer Staples - 8.0% | ||||
| 3,855 | Constellation Brands, Inc. - Class A | 536,192 | ||
| 5,995 | PepsiCo, Inc. | 811,723 | ||
| 5,872 | Philip Morris International, Inc. | 1,062,304 | ||
| 6,948 | Procter & Gamble Co. (The) | 1,018,855 | ||
| 9,516 | Sysco Corp. | 795,347 | ||
| 4,224,421 | ||||
| Consumer Discretionary - 7.0% | ||||
| 2,634 | Amazon.com, Inc.* | 627,788 | ||
| Shares |
Market Value |
|||
| Common Stocks - 96.6% (Continued) | ||||
| Consumer Discretionary - 7.0% (Continued) | ||||
| 2,977 | Home Depot, Inc. (The) | $ 1,049,928 | ||
| 11,504 | Las Vegas Sands Corp. | 531,370 | ||
| 2,709 | McDonald's Corp. | 732,270 | ||
| 4,554 | Yum! Brands, Inc. | 728,002 | ||
| 3,669,358 | ||||
| Materials - 4.4% | ||||
| 9,072 | International Flavors & Fragrances, Inc. | 718,684 | ||
| 1,685 | Linde PLC | 874,414 | ||
| 2,189 | Sherwin-Williams Co. (The) | 753,716 | ||
| 2,346,814 | ||||
| Energy - 3.9% | ||||
| 5,839 | Chevron Corp. | 967,872 | ||
| 7,826 | Exxon Mobil Corp. | 1,069,971 | ||
| 2,037,843 | ||||
| Utilities - 3.1% | ||||
| 6,623 | Duke Energy Corp. | 838,339 | ||
| 8,586 | Southern Co. (The) | 821,766 | ||
| 1,660,105 | ||||
| Real Estate - 2.3% | ||||
| 9,010 | Alexandria Real Estate Equities, Inc. REIT | 476,179 | ||
| 4,606 | American Tower Corp. REIT | 753,403 | ||
| 1,229,582 | ||||
| Total Common Stocks | $50,930,387 | |||
| Short-Term Investment Fund - 3.5% | ||||
| 1,831,032 | Dreyfus Government Cash Management, Institutional Shares, 3.54%∞Ω | 1,831,032 | ||
|
Total Investment Securities-100.1% (Cost $45,052,120) |
$52,761,419 | |||
| Liabilities in Excess of Other Assets - (0.1%) | (52,226) | |||
| Net Assets - 100.0% | $52,709,193 | |||
| * | Non-income producing security. |
| ∞ | Open-End Fund. |
| Ω | Represents the 7-Day SEC yield as of June 30, 2026. |
| Portfolio Abbreviations: |
| PLC - Public Limited Company |
| REIT - Real Estate Investment Trust |
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Financial Statements.
| Valuation Inputs at Reporting Date: | ||||
| Description | Level 1 | Level 2 | Level 3 | Total |
| Common Stocks | $50,930,387 | $- | $- | $50,930,387 |
| Short-Term Investment Fund | 1,831,032 | - | - | 1,831,032 |
| Total | $52,761,419 | $- | $- | $52,761,419 |
See accompanying Notes to Financial Statements.
3
Table of Contents
Portfolio of Investments
Touchstone Dynamic International ETF - June 30, 2026 (Unaudited)
| Shares |
Market Value |
|||
| Common Stocks - 95.8% | ||||
| Japan - 15.9% | ||||
| Consumer Discretionary - 2.2% | ||||
| 131,300 | Aisin Corp. | $ 1,765,660 | ||
| 81,670 | Asics Corp. | 2,197,523 | ||
| 87,700 | Sony Group Corp. | 1,769,156 | ||
| 127,192 | Sumitomo Electric Industries Ltd. | 2,289,683 | ||
| Energy - 1.2% | ||||
| 384,600 | ENEOS Holdings, Inc. | 2,831,368 | ||
| 65,700 | Inpex Corp. | 1,319,292 | ||
| Financials - 3.2% | ||||
| 247,500 | Japan Post Bank Co. Ltd. | 4,662,459 | ||
| 115,672 | MS&AD Insurance Group Holdings, Inc. | 3,016,386 | ||
| 99,258 | Sumitomo Mitsui Trust Group, Inc. | 3,697,566 | ||
| Health Care - 0.4% | ||||
| 99,201 | Daiichi Sankyo Co. Ltd. | 1,591,474 | ||
| Industrials - 5.5% | ||||
| 164,800 | Hitachi Ltd. | 4,531,633 | ||
| 111,900 | Japan Airlines Co. Ltd. | 1,961,407 | ||
| 111,942 | Mitsubishi Electric Corp. | 4,045,458 | ||
| 48,500 | Recruit Holdings Co. Ltd. | 3,379,593 | ||
| 178,800 | Shimizu Corp. | 2,803,595 | ||
| 80,671 | Toyota Tsusho Corp. | 2,965,966 | ||
| Information Technology - 2.9% | ||||
| 17,504 | Advantest Corp. | 3,481,530 | ||
| 10,100 | Keyence Corp. | 5,035,247 | ||
| 4,300 | Tokyo Electron Ltd. | 2,040,315 | ||
| Utilities - 0.5% | ||||
| 125,500 | Kansai Electric Power Co., Inc. (The)† | 1,764,078 | ||
| Total Japan | 57,149,389 | |||
| Taiwan - 9.5% | ||||
| Information Technology - 9.5% | ||||
| 11,000 | Accton Technology Corp. | 861,520 | ||
| 32,000 | Delta Electronics, Inc. | 1,958,784 | ||
| 261,000 | E Ink Holdings, Inc. | 1,757,396 | ||
| 623,000 | Hon Hai Precision Industry Co. Ltd. | 4,908,669 | ||
| 192,000 | Quanta Computer, Inc. | 2,217,946 | ||
| 298,852 | Taiwan Semiconductor Manufacturing Co. Ltd. | 22,608,677 | ||
| Total Taiwan | 34,312,992 | |||
| South Korea - 7.0% | ||||
| Consumer Discretionary - 0.7% | ||||
| 29,003 | Kia Corp. | 2,583,369 | ||
| Industrials - 0.9% | ||||
| 10,534 | HD Korea Shipbuilding & Offshore Engineering Co. Ltd. | 2,379,720 | ||
| 8,635 | Hyundai Rotem Co. Ltd. | 964,213 | ||
| Information Technology - 5.4% | ||||
| 49,529 | Samsung Electronics Co. Ltd. | 10,677,523 | ||
| 5,121 | SK Hynix, Inc. | 8,759,214 | ||
| Total South Korea | 25,364,039 | |||
| Netherlands - 6.8% | ||||
| Energy - 0.9% | ||||
| 79,569 | Shell PLC | 3,095,614 | ||
| Financials - 0.4% | ||||
| 21,389 | EXOR NV | 1,637,418 | ||
| Information Technology - 5.5% | ||||
| 4,269 | ASM International NV | 4,880,198 | ||
| Shares |
Market Value |
|||
| Common Stocks - 95.8% (Continued) | ||||
| Netherlands - (Continued) | ||||
| Information Technology - (Continued) | ||||
| 6,657 | ASML Holding NV | $ 13,093,465 | ||
| 5,800 | BE Semiconductor Industries NV | 1,902,635 | ||
| Total Netherlands | 24,609,330 | |||
| Italy - 6.8% | ||||
| Financials - 5.4% | ||||
| 380,779 | Banco BPM SpA | 6,574,030 | ||
| 75,155 | FinecoBank Banca Fineco SpA | 1,884,893 | ||
| 658,190 | Intesa Sanpaolo SpA | 4,504,767 | ||
| 72,550 | UniCredit SpA | 6,487,412 | ||
| Industrials - 0.8% | ||||
| 52,709 | Leonardo SpA | 2,826,072 | ||
| Utilities - 0.6% | ||||
| 187,568 | Enel SpA | 2,154,725 | ||
| Total Italy | 24,431,899 | |||
| Canada - 6.5% | ||||
| Consumer Discretionary - 1.1% | ||||
| 61,964 | Magna International, Inc. | 4,074,573 | ||
| Energy - 0.4% | ||||
| 27,542 | Suncor Energy, Inc. | 1,481,724 | ||
| Financials - 0.8% | ||||
| 23,255 | Toronto-Dominion Bank (The) | 2,827,493 | ||
| Industrials - 0.8% | ||||
| 12,493 | Stantec, Inc. | 861,671 | ||
| 15,764 | WSP Global, Inc. | 1,954,592 | ||
| Information Technology - 1.2% | ||||
| 6,651 | Celestica, Inc.* | 2,425,639 | ||
| 16,056 | Shopify, Inc. - Class A* | 1,836,945 | ||
| Materials - 2.2% | ||||
| 121,387 | Barrick Mining Corp. | 4,463,481 | ||
| 64,346 | Kinross Gold Corp. | 1,523,524 | ||
| 42,728 | Pan American Silver Corp. | 1,915,492 | ||
| Total Canada | 23,365,134 | |||
| China - 6.0% | ||||
| Consumer Discretionary - 0.5% | ||||
| 791,846 | Geely Automobile Holdings Ltd. | 1,702,254 | ||
| Financials - 1.7% | ||||
| 331,852 | BOC Hong Kong Holdings Ltd. | 1,793,211 | ||
| 921,800 | China Pacific Insurance Group Co. Ltd. Class H | 3,159,309 | ||
| 163,520 | Ping An Insurance Group Co. of China Ltd. Class H | 1,064,370 | ||
| Health Care - 1.7% | ||||
| 241,374 | Innovent Biologics, Inc., 144a* | 2,449,795 | ||
| 2,435,000 | Sino Biopharmaceutical Ltd. | 1,369,190 | ||
| 114,800 | WuXi AppTec Co. Ltd. Class H, 144a | 2,249,789 | ||
| Industrials - 1.4% | ||||
| 2,938,000 | CRRC Corp. Ltd. Class H | 1,681,993 | ||
| 492,000 | SITC International Holdings Co. Ltd. | 1,968,540 | ||
| 530,188 | Yangzijiang Shipbuilding Holdings Ltd. | 1,401,540 | ||
| Information Technology - 0.4% | ||||
| 559,408 | Lenovo Group Ltd. | 1,641,951 | ||
| Materials - 0.3% | ||||
| 394,000 | China Hongqiao Group Ltd. | 1,007,751 | ||
| Total China | 21,489,693 | |||
4
Table of Contents
Touchstone Dynamic International ETF (Unaudited) (Continued)
| Shares |
Market Value |
|||
| Common Stocks - 95.8% (Continued) | ||||
| India - 4.7% | ||||
| Communication Services - 0.7% | ||||
| 124,704 | Bharti Airtel Ltd. | $ 2,439,836 | ||
| Energy - 1.6% | ||||
| 772,280 | Bharat Petroleum Corp. Ltd. | 2,476,534 | ||
| 2,239,963 | Indian Oil Corp. Ltd. | 3,298,227 | ||
| Financials - 2.2% | ||||
| 2,483,220 | Canara Bank | 3,292,815 | ||
| 212,224 | ICICI Bank Ltd. | 3,083,185 | ||
| 854,833 | Union Bank of India Ltd. | 1,557,160 | ||
| Information Technology - 0.2% | ||||
| 18,916 | Persistent Systems Ltd. | 864,580 | ||
| Total India | 17,012,337 | |||
| United Kingdom - 4.0% | ||||
| Consumer Staples - 0.6% | ||||
| 56,419 | Imperial Brands PLC | 2,087,204 | ||
| Financials - 1.1% | ||||
| 120,799 | HSBC Holdings PLC | 2,292,626 | ||
| 195,126 | NatWest Group PLC | 1,726,362 | ||
| Health Care - 0.5% | ||||
| 8,535 | AstraZeneca PLC | 1,596,296 | ||
| Industrials - 1.8% | ||||
| 340,868 | Rolls-Royce Holdings PLC | 6,531,677 | ||
| Total United Kingdom | 14,234,165 | |||
| Norway - 2.6% | ||||
| Communication Services - 0.9% | ||||
| 219,655 | Telenor ASA | 3,146,646 | ||
| Energy - 1.7% | ||||
| 49,244 | Aker BP ASA | 1,508,389 | ||
| 147,293 | Equinor ASA | 4,664,985 | ||
| Total Norway | 9,320,020 | |||
| Australia - 2.6% | ||||
| Materials - 2.6% | ||||
| 31,940 | Anglogold Ashanti PLC | 2,589,188 | ||
| 49,708 | BHP Group Ltd. | 2,044,271 | ||
| 348,543 | Fortescue Ltd. | 4,621,158 | ||
| Total Australia | 9,254,617 | |||
| Denmark - 2.5% | ||||
| Health Care - 0.7% | ||||
| 9,051 | Genmab A/S* | 2,483,554 | ||
| Industrials - 1.8% | ||||
| 1,136 | AP Moller - Maersk A/S - Class A | 2,622,213 | ||
| 143,570 | Vestas Wind Systems A/S | 4,051,428 | ||
| Total Denmark | 9,157,195 | |||
| Spain - 2.3% | ||||
| Financials - 1.4% | ||||
| 79,326 | Banco Bilbao Vizcaya Argentaria SA | 1,982,251 | ||
| 223,999 | Banco Santander SA | 3,092,794 | ||
| Health Care - 0.5% | ||||
| 162,608 | Grifols SA† | 1,664,731 | ||
| Information Technology - 0.4% | ||||
| 28,946 | Indra Sistemas SA | 1,584,892 | ||
| Total Spain | 8,324,668 | |||
| Shares |
Market Value |
|||
| Common Stocks - 95.8% (Continued) | ||||
| Finland - 2.3% | ||||
| Energy - 0.6% | ||||
| 63,420 | Neste Oyj | $ 2,075,360 | ||
| Health Care - 1.3% | ||||
| 56,416 | Orion Oyj - Class B | 4,637,963 | ||
| Industrials - 0.4% | ||||
| 40,168 | Wartsila Oyj Abp | 1,532,007 | ||
| Total Finland | 8,245,330 | |||
| Germany - 2.3% | ||||
| Communication Services - 1.0% | ||||
| 134,498 | Deutsche Telekom AG | 3,665,206 | ||
| Financials - 1.3% | ||||
| 35,824 | Talanx AG | 4,527,135 | ||
| Total Germany | 8,192,341 | |||
| Sweden - 2.2% | ||||
| Health Care - 0.8% | ||||
| 62,304 | Swedish Orphan Biovitrum AB* | 2,968,586 | ||
| Industrials - 0.8% | ||||
| 51,168 | Saab AB - Class B | 2,653,295 | ||
| Information Technology - 0.6% | ||||
| 204,581 | Telefonaktiebolaget LM Ericsson - Class B | 2,281,831 | ||
| Total Sweden | 7,903,712 | |||
| Brazil - 2.1% | ||||
| Communication Services - 1.4% | ||||
| 1,192,800 | TIM SA | 5,076,384 | ||
| Energy - 0.7% | ||||
| 328,200 | Petroleo Brasileiro SA | 2,649,860 | ||
| Total Brazil | 7,726,244 | |||
| Hong Kong - 2.1% | ||||
| Financials - 1.6% | ||||
| 649,606 | AIA Group Ltd. | 5,918,046 | ||
| Industrials - 0.5% | ||||
| 160,500 | Swire Pacific Ltd. - Class A | 1,671,950 | ||
| Total Hong Kong | 7,589,996 | |||
| Singapore - 1.9% | ||||
| Financials - 1.4% | ||||
| 262,524 | Oversea-Chinese Banking Corp. Ltd. | 5,030,315 | ||
| Industrials - 0.5% | ||||
| 230,700 | Singapore Technologies Engineering Ltd. | 1,852,733 | ||
| Total Singapore | 6,883,048 | |||
| Switzerland - 1.8% | ||||
| Financials - 0.6% | ||||
| 14,292 | Swiss Re AG | 2,272,923 | ||
| Health Care - 1.2% | ||||
| 18,343 | Galderma Group AG | 4,174,849 | ||
| Total Switzerland | 6,447,772 | |||
| Mexico - 1.3% | ||||
| Materials - 1.3% | ||||
| 27,205 | Southern Copper Corp. | 4,740,743 | ||
| Peru - 1.1% | ||||
| Financials - 1.1% | ||||
| 9,885 | Credicorp Ltd. | 3,850,998 | ||
5
Table of Contents
Touchstone Dynamic International ETF (Unaudited) (Continued)
| Shares |
Market Value |
|||
| Common Stocks - 95.8% (Continued) | ||||
| Portugal - 0.7% | ||||
| Energy - 0.7% | ||||
| 123,414 | Galp Energia SGPS SA | $ 2,629,184 | ||
| Israel - 0.4% | ||||
| Financials - 0.4% | ||||
| 71,788 | Bank Leumi Le-Israel BM | 1,604,938 | ||
| France - 0.4% | ||||
| Energy - 0.4% | ||||
| 20,298 | TotalEnergies SE | 1,577,785 | ||
| Total Common Stocks | $345,417,569 | |||
| Preferred Stocks - 1.2% | ||||
| South Korea - 0.7% | ||||
| Information Technology - 0.7% | ||||
| 18,446 | Samsung Electronics Co. Ltd., 0.900%(A) | 2,524,077 | ||
| Brazil - 0.5% | ||||
| Energy - 0.5% | ||||
| 260,530 | Petroleo Brasileiro SA, 3.090%(A) | 1,906,169 | ||
| Total Preferred Stocks | $4,430,246 | |||
| Short-Term Investment Fund - 3.3% | ||||
| 11,927,501 | Dreyfus Government Cash Management, Institutional Shares, 3.54%∞Ω** | 11,927,501 | ||
|
Total Investment Securities - 100.3% (Cost $348,836,987) |
$361,775,316 | |||
| Liabilities in Excess of Other Assets - (0.3)% | (1,252,009) | |||
| Net Assets - 100.0% | $360,523,307 | |||
| (A) | Perpetual Bond - A bond or preferred stock with no definite maturity date. |
| * | Non-income producing security. |
| ** | All or a portion of the security represents collateral for securities loaned. |
| † | All or a portion of the security is on loan. The total market value of the securities on loan as of June 30, 2026 was $1,778,729. |
| ∞ | Open-End Fund. |
| Ω | Represents the 7-Day SEC yield as of June 30, 2026. |
| Portfolio Abbreviations: |
| PLC - Public Limited Company |
| 144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2026, these securities were valued at $4,699,584 or 1.3% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees. |
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Financial Statements.
| Valuation inputs at Reporting Date: | ||||
| Description | Level 1 | Level 2 | Level 3 | Total |
| Common Stocks | ||||
| Japan | $57,149,389 | $- | $- | $57,149,389 |
| Taiwan | 34,312,992 | - | - | 34,312,992 |
| South Korea | 25,364,039 | - | - | 25,364,039 |
| Netherlands | 24,609,330 | - | - | 24,609,330 |
| Italy | 24,431,899 | - | - | 24,431,899 |
| Canada | 23,365,134 | - | - | 23,365,134 |
| China | 21,489,693 | - | - | 21,489,693 |
| India | 17,012,337 | - | - | 17,012,337 |
| United Kingdom | 14,234,165 | - | - | 14,234,165 |
| Norway | 9,320,020 | - | - | 9,320,020 |
| Australia | 9,254,617 | - | - | 9,254,617 |
| Denmark | 9,157,195 | - | - | 9,157,195 |
| Spain | 8,324,668 | - | - | 8,324,668 |
| Finland | 8,245,330 | - | - | 8,245,330 |
| Germany | 8,192,341 | - | - | 8,192,341 |
| Sweden | 7,903,712 | - | - | 7,903,712 |
| Brazil | 7,726,244 | - | - | 7,726,244 |
| Hong Kong | 7,589,996 | - | - | 7,589,996 |
| Singapore | 6,883,048 | - | - | 6,883,048 |
| Switzerland | 6,447,772 | - | - | 6,447,772 |
| Mexico | 4,740,743 | - | - | 4,740,743 |
| Peru | 3,850,998 | - | - | 3,850,998 |
| Portugal | 2,629,184 | - | - | 2,629,184 |
| Israel | 1,604,938 | - | - | 1,604,938 |
| France | 1,577,785 | - | - | 1,577,785 |
| Preferred Stocks | 4,430,246 | - | - | 4,430,246 |
| Short-Term Investment Fund | 11,927,501 | - | - | 11,927,501 |
| Total | $361,775,316 | $- | $- | $361,775,316 |
See accompanying Notes to Financial Statements.
6
Table of Contents
Portfolio of Investments
Touchstone International Equity ETF - June 30, 2026 (Unaudited)
| Shares |
Market Value |
|||
| Common Stocks - 97.1% | ||||
| United States - 21.9% | ||||
| Consumer Staples - 3.9% | ||||
| 23,675 | Philip Morris International, Inc. | $ 4,283,044 | ||
| Financials - 2.9% | ||||
| 12,484 | Willis Towers Watson PLC | 3,262,943 | ||
| Health Care - 8.3% | ||||
| 27,317 | ICON PLC* | 4,745,236 | ||
| 10,730 | Roche Holding AG | 4,419,485 | ||
| Materials - 6.8% | ||||
| 11,456 | Air Products & Chemicals, Inc. | 3,358,670 | ||
| 39,245 | CRH PLC | 4,199,215 | ||
| Total United States | 24,268,593 | |||
| United Kingdom - 21.1% | ||||
| Consumer Discretionary - 8.9% | ||||
| 150,835 | Compass Group PLC | 4,871,971 | ||
| 29,114 | InterContinental Hotels Group PLC | 5,014,886 | ||
| Consumer Staples - 4.1% | ||||
| 79,384 | Diageo PLC | 1,603,176 | ||
| 48,162 | Unilever PLC | 2,892,370 | ||
| Financials - 2.5% | ||||
| 25,575 | London Stock Exchange Group PLC | 2,768,874 | ||
| Industrials - 5.6% | ||||
| 123,144 | BAE Systems PLC | 3,012,070 | ||
| 103,394 | RELX PLC | 3,244,897 | ||
| Total United Kingdom | 23,408,244 | |||
| Netherlands - 11.9% | ||||
| Communication Services - 4.1% | ||||
| 215,360 | Universal Music Group NV | 4,510,469 | ||
| Consumer Staples - 3.4% | ||||
| 215,421 | Magnum Ice Cream Co. NV (The)* | 3,747,548 | ||
| Information Technology - 4.4% | ||||
| 2,497 | ASML Holding NV | 4,911,279 | ||
| Total Netherlands | 13,169,296 | |||
| Switzerland - 7.3% | ||||
| Consumer Discretionary - 2.5% | ||||
| 12,043 | Cie Financiere Richemont SA | 2,780,472 | ||
| Consumer Staples - 3.1% | ||||
| 32,780 | Nestle SA | 3,370,498 | ||
| Health Care - 1.7% | ||||
| 28,220 | Alcon AG | 1,906,946 | ||
| Total Switzerland | 8,057,916 | |||
| France - 7.1% | ||||
| Industrials - 5.0% | ||||
| 13,952 | Safran SA | 5,499,837 | ||
| Materials - 2.1% | ||||
| 11,964 | Air Liquide SA | 2,368,749 | ||
| Total France | 7,868,586 | |||
| Germany - 6.7% | ||||
| Financials - 3.9% | ||||
| 9,138 | Allianz SE | 4,323,651 | ||
| Information Technology - 2.8% | ||||
| 20,582 | SAP SE | 3,151,277 | ||
| Total Germany | 7,474,928 | |||
| Shares |
Market Value |
|||
| Common Stocks - 97.1% (Continued) | ||||
| Taiwan - 6.3% | ||||
| Information Technology - 6.3% | ||||
| 14,550 | Taiwan Semiconductor Manufacturing Co. Ltd. ADR | $ 6,948,643 | ||
| Spain - 3.4% | ||||
| Industrials - 3.4% | ||||
| 124,354 | Aena SME SA, 144a | 3,788,036 | ||
| Canada - 3.2% | ||||
| Industrials - 3.2% | ||||
| 30,179 | Canadian National Railway Co. | 3,601,478 | ||
| Japan - 2.9% | ||||
| Communication Services - 2.9% | ||||
| 75,700 | Nintendo Co. Ltd. | 3,172,886 | ||
| Sweden - 2.1% | ||||
| Industrials - 2.1% | ||||
| 67,393 | Assa Abloy AB - Class B | 2,379,799 | ||
| Finland - 2.1% | ||||
| Industrials - 2.1% | ||||
| 41,452 | Kone Oyj - Class B | 2,356,786 | ||
| Denmark - 1.1% | ||||
| Health Care - 1.1% | ||||
| 21,026 | Coloplast A/S - Class B | 1,196,637 | ||
| Total Common Stocks | $107,691,828 | |||
| Short-Term Investment Fund - 2.7% | ||||
| 3,025,742 | Dreyfus Government Cash Management, Institutional Shares, 3.54%∞Ω | 3,025,742 | ||
|
Total Investment Securities - 99.8% (Cost $108,068,869) |
$110,717,570 | |||
| Other Assets in Excess of Liabilities - 0.2% | 172,563 | |||
| Net Assets - 100.0% | $110,890,133 | |||
| * | Non-income producing security. |
| ∞ | Open-End Fund. |
| Ω | Represents the 7-Day SEC yield as of June 30, 2026. |
| Portfolio Abbreviations: |
| ADR - American Depositary Receipt |
| PLC - Public Limited Company |
| 144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2026, these securities were valued at $3,788,036 or 3.4% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees. |
7
Table of Contents
Touchstone International Equity ETF (Unaudited) (Continued)
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Financial Statements.
| Valuation inputs at Reporting Date: | ||||
| Description | Level 1 | Level 2 | Level 3 | Total |
| Common Stocks | ||||
| United States | $24,268,593 | $- | $- | $24,268,593 |
| United Kingdom | 23,408,244 | - | - | 23,408,244 |
| Netherlands | 13,169,295 | - | - | 13,169,295 |
| Switzerland | 8,057,916 | - | - | 8,057,916 |
| France | 7,868,585 | - | - | 7,868,585 |
| Germany | 7,474,928 | - | - | 7,474,928 |
| Taiwan | 6,948,644 | - | - | 6,948,644 |
| Spain | 3,788,036 | - | - | 3,788,036 |
| Canada | 3,601,478 | - | - | 3,601,478 |
| Japan | 3,172,887 | - | - | 3,172,887 |
| Sweden | 2,379,799 | - | - | 2,379,799 |
| Finland | 2,356,786 | - | - | 2,356,786 |
| Denmark | 1,196,637 | - | - | 1,196,637 |
| Short-Term Investment Fund | 3,025,742 | - | - | 3,025,742 |
| Total | $110,717,570 | $- | $- | $110,717,570 |
See accompanying Notes to Financial Statements.
8
Table of Contents
Portfolio of Investments
Touchstone Sands Capital Emerging Markets ex-China Growth ETF - June 30, 2026 (Unaudited)
| Shares |
Market Value |
|||
| Common Stocks - 98.6% | ||||
| South Korea - 29.8% | ||||
| Consumer Discretionary - 2.0% | ||||
| 15,531 | Coupang, Inc.* | $ 269,774 | ||
| Consumer Staples - 0.6% | ||||
| 757 | Cosmax, Inc. | 75,685 | ||
| Health Care - 0.7% | ||||
| 108 | Samsung Biologics Co. Ltd., 144a* | 96,965 | ||
| Industrials - 6.1% | ||||
| 80 | Hyosung Heavy Industries Corp. | 177,525 | ||
| 589 | SK Square Co. Ltd. | 645,152 | ||
| Information Technology - 20.4% | ||||
| 8,690 | Samsung Electronics Co. Ltd. | 1,873,401 | ||
| 503 | SK Hynix, Inc. | 860,356 | ||
| Total South Korea | 3,998,858 | |||
| Taiwan - 23.1% | ||||
| Information Technology - 23.1% | ||||
| 3,100 | Chroma ATE, Inc. | 210,193 | ||
| 7,700 | Delta Electronics, Inc. | 471,332 | ||
| 1,100 | eMemory Technology, Inc. | 101,000 | ||
| 2,400 | MediaTek, Inc. | 319,809 | ||
| 18,300 | Taiwan Semiconductor Manufacturing Co. Ltd. | 1,384,427 | ||
| 1,302 | Taiwan Semiconductor Manufacturing Co. Ltd. ADR | 621,796 | ||
| Total Taiwan | 3,108,557 | |||
| India - 18.8% | ||||
| Communication Services - 2.6% | ||||
| 17,862 | Bharti Airtel Ltd. | 349,470 | ||
| Consumer Discretionary - 4.1% | ||||
| 1,769 | Amber Enterprises India Ltd.* | 140,722 | ||
| 52,263 | Eternal Ltd.* | 146,091 | ||
| 5,607 | Titan Co. Ltd. | 260,866 | ||
| Financials - 7.2% | ||||
| 43,294 | Bajaj Finance Ltd. | 459,542 | ||
| 42,744 | HDFC Bank Ltd. | 360,321 | ||
| 23,202 | HDFC Life Insurance Co. Ltd., 144a | 141,148 | ||
| Health Care - 1.3% | ||||
| 1,918 | Apollo Hospitals Enterprise Ltd. | 175,917 | ||
| Industrials - 1.8% | ||||
| 12,463 | Adani Ports & Special Economic Zone Ltd. | 238,335 | ||
| Real Estate - 1.8% | ||||
| 11,996 | Phoenix Mills Ltd. (The) | 246,944 | ||
| Total India | 2,519,356 | |||
| Brazil - 9.7% | ||||
| Consumer Discretionary - 3.1% | ||||
| 242 | MercadoLibre, Inc.* | 410,768 | ||
| Consumer Staples - 1.4% | ||||
| 57,992 | Raia Drogasil SA | 188,390 | ||
| Financials - 3.9% | ||||
| 11,700 | Banco BTG Pactual SA | 123,181 | ||
| 30,148 | NU Holdings Ltd. - Class A* | 402,777 | ||
| Industrials - 1.3% | ||||
| 19,000 | WEG SA | 172,654 | ||
| Total Brazil | 1,297,770 | |||
| Singapore - 3.9% | ||||
| Consumer Discretionary - 2.3% | ||||
| 3,197 | Sea Ltd. ADR* | 306,368 | ||
| Shares |
Market Value |
|||
| Common Stocks - 98.6% (Continued) | ||||
| Singapore - (Continued) | ||||
| Industrials - 1.6% | ||||
| 59,409 | Grab Holdings Ltd. - Class A* | $ 223,972 | ||
| Total Singapore | 530,340 | |||
| Mexico - 2.7% | ||||
| Consumer Staples - 2.7% | ||||
| 3,647 | BBB Foods, Inc. - Class A* | 151,970 | ||
| 73,749 | Wal-Mart de Mexico SAB de CV | 216,176 | ||
| Total Mexico | 368,146 | |||
| Kazakhstan - 2.7% | ||||
| Financials - 2.7% | ||||
| 4,198 | Kaspi.KZ JSC ADR | 363,715 | ||
| Saudi Arabia - 1.6% | ||||
| Financials - 1.6% | ||||
| 11,905 | Al Rajhi Bank | 208,810 | ||
| Indonesia - 1.5% | ||||
| Consumer Staples - 0.5% | ||||
| 896,500 | Sumber Alfaria Trijaya Tbk PT | 68,692 | ||
| Financials - 1.0% | ||||
| 433,400 | Bank Central Asia Tbk PT | 134,528 | ||
| Total Indonesia | 203,220 | |||
| Philippines - 1.4% | ||||
| Industrials - 1.4% | ||||
| 12,800 | International Container Terminal Services, Inc. | 185,628 | ||
| Poland - 1.3% | ||||
| Consumer Staples - 1.3% | ||||
| 22,646 | Dino Polska SA, 144a* | 170,968 | ||
| South Africa - 1.1% | ||||
| Financials - 1.1% | ||||
| 522 | Capitec Bank Holdings Ltd. | 151,378 | ||
| Georgia - 1.0% | ||||
| Financials - 1.0% | ||||
| 901 | Lion Finance Group PLC | 135,408 | ||
| Total Common Stocks | $13,242,154 | |||
| Short-Term Investment Fund - 1.2% | ||||
| 160,509 | Dreyfus Government Cash Management, Institutional Shares, 3.54%∞Ω | 160,509 | ||
|
Total Investment Securities - 99.8% (Cost $10,142,571) |
$13,402,663 | |||
| Other Assets in Excess of Liabilities - 0.2% | 26,017 | |||
| Net Assets - 100.0% | $13,428,680 | |||
| * | Non-income producing security. |
| ∞ | Open-End Fund. |
| Ω | Represents the 7-Day SEC yield as of June 30, 2026. |
| Portfolio Abbreviations: |
| ADR - American Depositary Receipt |
| JSC - Joint Stock Company |
| PLC - Public Limited Company |
| 144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2026, these securities were valued at $409,081 or 3.0% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees. |
9
Table of Contents
Touchstone Sands Capital Emerging Markets ex-China Growth ETF (Unaudited) (Continued)
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Financial Statements.
| Valuation inputs at Reporting Date: | ||||
| Description | Level 1 | Level 2 | Level 3 | Total |
| Common Stocks | ||||
| South Korea | $3,998,858 | $- | $- | $3,998,858 |
| Taiwan | 3,108,557 | - | - | 3,108,557 |
| India | 2,519,356 | - | - | 2,519,356 |
| Brazil | 1,297,770 | - | - | 1,297,770 |
| Singapore | 530,340 | - | - | 530,340 |
| Mexico | 368,146 | - | - | 368,146 |
| Kazakhstan | 363,715 | - | - | 363,715 |
| Saudi Arabia | 208,810 | - | - | 208,810 |
| Indonesia | 203,220 | - | - | 203,220 |
| Philippines | 185,628 | - | - | 185,628 |
| Poland | 170,968 | - | - | 170,968 |
| South Africa | 151,378 | - | - | 151,378 |
| Georgia | 135,408 | - | - | 135,408 |
| Short-Term Investment Fund | 160,509 | - | - | 160,509 |
| Total | $13,402,663 | $- | $- | $13,402,663 |
See accompanying Notes to Financial Statements.
10
Table of Contents
Portfolio of Investments
Touchstone Sands Capital US Select Growth ETF - June 30, 2026 (Unaudited)
| Shares |
Market Value |
|||
| Common Stocks - 98.9% | ||||
| Information Technology - 47.8% | ||||
| 2,705 | AppLovin Corp. - Class A* | $ 1,393,697 | ||
| 4,297 | Broadcom, Inc. | 1,623,192 | ||
| 5,912 | Cloudflare, Inc. - Class A* | 1,450,095 | ||
| 8,384 | Datadog, Inc. - Class A* | 2,182,858 | ||
| 5,033 | Lam Research Corp. | 2,180,950 | ||
| 4,507 | Micron Technology, Inc. | 5,202,385 | ||
| 8,337 | Microsoft Corp. | 3,109,868 | ||
| 47,177 | NVIDIA Corp. | 9,439,646 | ||
| 31,810 | Samsara, Inc. - Class A* | 1,031,598 | ||
| 1,479 | Sandisk Corp.* | 3,362,847 | ||
| 6,738 | Seagate Technology Holdings PLC | 6,502,170 | ||
| 21,352 | Shopify, Inc. (Canada) - Class A* | 2,437,971 | ||
| 39,917,277 | ||||
| Communication Services - 18.8% | ||||
| 14,492 | Alphabet, Inc. - Class A | 5,179,006 | ||
| 8,030 | Meta Platforms, Inc. - Class A | 4,523,219 | ||
| 7,364 | Space Exploration Technologies Corp. - Class A* | 1,258,213 | ||
| 7,894 | Sphere Entertainment Co.* | 1,365,899 | ||
| 7,289 | Spotify Technology SA* | 3,346,598 | ||
| 15,672,935 | ||||
| Industrials - 13.9% | ||||
| 1,681 | Axon Enterprise, Inc.* | 942,385 | ||
| 10,186 | Bloom Energy Corp. - Class A* | 3,083,302 | ||
| 6,235 | Carpenter Technology Corp. | 3,845,997 | ||
| 5,211 | Quanta Services, Inc. | 3,752,129 | ||
| 11,623,813 | ||||
| Financials - 9.4% | ||||
| 41,785 | Block, Inc.* | 3,175,660 | ||
| 11,254 | Intercontinental Exchange, Inc. | 1,385,480 | ||
| 115,152 | NU Holdings Ltd. (Brazil) - Class A* | 1,538,431 | ||
| 5,099 | Visa, Inc. - Class A | 1,749,416 | ||
| 7,848,987 | ||||
| Consumer Discretionary - 8.0% | ||||
| 18,544 | Amazon.com, Inc.* | 4,419,777 | ||
| 34,225 | Carvana Co.* | 2,252,689 | ||
| 6,672,466 | ||||
| Shares |
Market Value |
|||
| Common Stocks - 98.9% (Continued) | ||||
| Health Care - 1.0% | ||||
| 24,073 | Ultragenyx Pharmaceutical, Inc.* | $ 803,798 | ||
| Total Common Stocks | $82,539,276 | |||
| Short-Term Investment Fund - 1.2% | ||||
| 1,033,248 | Dreyfus Government Cash Management, Institutional Shares, 3.54%∞Ω | 1,033,248 | ||
|
Total Investment Securities-100.1% (Cost $76,104,699) |
$83,572,524 | |||
| Liabilities in Excess of Other Assets - (0.1%) | (91,949) | |||
| Net Assets - 100.0% | $83,480,575 | |||
| * | Non-income producing security. |
| ∞ | Open-End Fund. |
| Ω | Represents the 7-Day SEC yield as of June 30, 2026. |
| Portfolio Abbreviations: |
| PLC - Public Limited Company |
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Financial Statements.
| Valuation Inputs at Reporting Date: | ||||
| Description | Level 1 | Level 2 | Level 3 | Total |
| Common Stocks | $82,539,276 | $- | $- | $82,539,276 |
| Short-Term Investment Fund | 1,033,248 | - | - | 1,033,248 |
| Total | $83,572,524 | $- | $- | $83,572,524 |
See accompanying Notes to Financial Statements.
11
Table of Contents
Portfolio of Investments
Touchstone Securitized Income ETF - June 30, 2026 (Unaudited)
|
Principal Amount |
Market Value |
|||
| Commercial Mortgage-Backed Securities - 36.7% | ||||
| $ 1,343,000 | Arbor Multifamily Mortgage Securities Trust, Ser 2021-MF3, Class D, 144a, 2.000%, 10/15/54 | $ 1,086,136 | ||
| 1,600,000 | Bank of America Merrill Lynch Commercial Mortgage Trust, Ser 2017-BNK3, Class C, 4.352%, 2/15/50(A)(B) | 1,574,609 | ||
| 1,000,000 | Bank of America Merrill Lynch Commercial Mortgage Trust, Ser 2017-BNK3, Class D, 144a, 3.250%, 2/15/50 | 955,287 | ||
| 1,665,000 | BANK5, Ser 2026-5YR21, Class C, 6.365%, 4/15/59(A)(B) | 1,637,459 | ||
| 1,740,000 | Benchmark Mortgage Trust, Ser 2018-B5, Class B, 4.570%, 7/15/51 | 1,627,155 | ||
| 21,684,970 | Benchmark Mortgage Trust, Ser 2024-V5, Class XA, 1.298%, 1/10/57(A)(B)(C) | 504,262 | ||
| 28,532,876 | Benchmark Mortgage Trust, Ser 2026-B43, Class XA, 1.240%, 4/15/63(A)(B)(C) | 2,003,279 | ||
| 2,016,000 | BX Commercial Mortgage Trust, Ser 2021-21M, Class G, 144a, (TSFR1M + 3.180%), 6.805%, 10/15/36(A) | 2,014,740 | ||
| 1,750,000 | BX Commercial Mortgage Trust, Ser 2025-BCAT, Class D, 144a, (TSFR1M + 2.650%), 6.275%, 8/15/42(A) | 1,757,104 | ||
| 1,619,120 | BX Trust, Ser 2019-OC11, Class E, 144a, 4.075%, 12/9/41(A)(B) | 1,469,714 | ||
| 2,265,000 | BXHPP Trust, Ser 2021-FILM, Class A, 144a, (TSFR1M + 0.764%), 4.389%, 8/15/36(A) | 2,151,727 | ||
| 1,000,000 | BXHPP Trust, Ser 2021-FILM, Class B, 144a, (TSFR1M + 1.014%), 4.639%, 8/15/36(A) | 922,490 | ||
| 2,544,000 | CD Mortgage Trust, Ser 2019-CD8, Class B, 3.366%, 8/15/57 | 2,214,248 | ||
| 1,198,000 | CD Mortgage Trust, Ser 2019-CD8, Class C, 3.719%, 8/15/57(A)(B) | 969,120 | ||
| 1,000,000 | CFCRE Commercial Mortgage Trust, Ser 2017-C8, Class C, 5.024%, 6/15/50(A)(B) | 971,794 | ||
| 527,310 | Citigroup Commercial Mortgage Trust, Ser 2014-GC25, Class D, 144a, 3.548%, 10/10/47 | 226,796 | ||
| 2,200,000 | Citigroup Commercial Mortgage Trust, Ser 2016-C2, Class C, 4.031%, 8/10/49(A)(B) | 2,171,592 | ||
| 1,300,000 | Citigroup Commercial Mortgage Trust, Ser 2016-C2, Class D, 144a, 3.250%, 8/10/49(A)(B) | 1,249,414 | ||
| 2,000,000 | Citigroup Commercial Mortgage Trust, Ser 2017-P8, Class B, 4.192%, 9/15/50 | 1,823,589 | ||
| 219,000 | Citigroup Commercial Mortgage Trust, Ser 2017-P8, Class D, 144a, 3.000%, 9/15/50 | 140,006 | ||
| 49,629,936 | Citigroup Commercial Mortgage Trust, Ser 2018-C5, Class XA, 0.816%, 6/10/51(A)(B)(C) | 530,291 | ||
| 30,386,985 | CRB Commercial Mortgage Trust, Ser 2025-CRE1, Class XA, 144a, 1.268%, 9/15/58(A)(B)(C) | 1,257,374 | ||
| 153,524 | CSAIL Commercial Mortgage Trust, Ser 2016-C5, Class C, 4.549%, 11/15/48(A)(B) | 150,451 | ||
| 1,500,000 | CSAIL Commercial Mortgage Trust, Ser 2016-C6, Class B, 3.924%, 1/15/49(A)(B) | 1,448,645 | ||
| 2,300,000 | CSMC, Ser 2017-TIME, Class A, 144a, 3.646%, 11/13/39 | 2,200,300 | ||
| 1,745,000 | CSMC, Ser 2017-TIME, Class B, 144a, 3.775%, 11/13/39(A)(B) | 1,529,861 | ||
| 2,000,000 | CSMC, Ser 2022-LION, Class A, 144a, (TSFR1M + 3.440%), 7.065%, 2/15/27(A) | 1,989,823 | ||
| 360,000 | CSMC Trust, Ser 2017-CALI, Class E, 144a, 3.904%, 11/10/32(A)(B) | 54,767 | ||
| 1,500,000 | ESTN Trust, Ser 2026-TOWN, Class B, 144a, 5.738%, 5/12/46(A)(B) | 1,517,152 | ||
| 1,500,000 | ESTN Trust, Ser 2026-TOWN, Class C, 144a, 5.938%, 5/12/46(A)(B) | 1,524,814 | ||
|
Principal Amount |
Market Value |
|||
| Commercial Mortgage-Backed Securities - 36.7% (Continued) | ||||
| $ 1,500,000 | ESTN Trust, Ser 2026-TOWN, Class D, 144a, 6.686%, 5/12/46(A)(B) | $ 1,533,724 | ||
| 155,087 | GS Mortgage Securities Corp. Trust, Ser 2017-GPTX, Class A, 144a, 2.856%, 5/10/34 | 138,757 | ||
| 41,692,225 | GS Mortgage Securities Corp. Trust, Ser 2018-GS9, Class XA, 0.552%, 3/10/51(A)(B)(C) | 210,141 | ||
| 1,914,000 | GS Mortgage Securities Trust, Ser 2016-GS2, Class C, 4.721%, 5/10/49(A)(B) | 1,839,676 | ||
| 975,000 | GS Mortgage Securities Trust, Ser 2016-GS2, Class D, 144a, 2.753%, 5/10/49 | 841,102 | ||
| 45,000 | GS Mortgage Securities Trust, Ser 2016-GS3, Class B, 3.395%, 10/10/49(A)(B) | 44,494 | ||
| 24,404,733 | GS Mortgage Securities Trust, Ser 2017-GS6, Class XA, 1.137%, 5/10/50(A)(B)(C) | 141,164 | ||
| 350,000 | HONO Mortgage Trust, Ser 2021-LULU, Class C, 144a, (TSFR1M + 1.964%), 5.590%, 10/15/36(A) | 344,356 | ||
| 1,000,000 | JPMBB Commercial Mortgage Securities Trust, Ser 2014-C25, Class AS, 4.065%, 11/15/47 | 975,000 | ||
| 2,080,000 | JW Commercial Mortgage Trust, Ser 2026-MRCO, Class E, 144a, (TSFR1M + 3.500%), 7.125%, 6/15/39(A) | 2,086,879 | ||
| 1,051,366 | KIND Trust, Ser 2021-KIND, Class B, 144a, (TSFR1M + 1.464%), 5.090%, 8/15/38(A) | 1,047,300 | ||
| 2,210,000 | KSL Commercial Mortgage Trust, Ser 2026-HT3, Class E, 144a, (TSFR1M + 3.750%), 7.350%, 6/15/43(A) | 2,215,525 | ||
| 206,587 | LSTAR Commercial Mortgage Trust, Ser 2016-4, Class D, 144a, 4.649%, 3/10/49(A)(B) | 192,180 | ||
| 2,684 | Morgan Stanley Capital I Trust, Ser 2016-UB11, Class XA, 1.605%, 8/15/49(A)(B)(C) | 0 | ||
| 445,104 | Morgan Stanley Capital I Trust, Ser 2018-BOP, Class E, 144a, (TSFR1M + 1.997%), 5.623%, 6/15/35(A) | 45,574 | ||
| 1,000,000 | Morgan Stanley Capital I Trust, Ser 2019-L3, Class C, 3.767%, 11/15/52(A)(B) | 858,786 | ||
| 1,570,000 | Morgan Stanley Capital I Trust, Ser 2019-L3, Class D, 144a, 2.500%, 11/15/52 | 1,213,959 | ||
| 236,820 | Morgan Stanley Capital I Trust, Ser 2019-NUGS, Class E, 144a, (TSFR1M + 2.358%), 5.984%, 12/15/36(A) | 2,368 | ||
| 4,877,423 | UBS Commercial Mortgage Trust, Ser 2018-C12, Class XA, 1.001%, 8/15/51(A)(B)(C) | 69,055 | ||
| 60,195,797 | UBS Commercial Mortgage Trust, Ser 2018-C15, Class XA, 1.043%, 12/15/51(A)(B)(C) | 1,055,955 | ||
| 1,355,000 | UBS Commercial Mortgage Trust, Ser 2019-C17, Class C, 3.758%, 10/15/52(A)(B) | 1,213,790 | ||
| 1,000,000 | Wells Fargo Commercial Mortgage Trust, Ser 2016-LC24, Class B, 3.621%, 10/15/49 | 986,707 | ||
| 11,065,600 | Wells Fargo Commercial Mortgage Trust, Ser 2020-C57, Class XA, 2.170%, 8/15/53(A)(B)(C) | 686,381 | ||
| 1,096,047 | Wells Fargo Commercial Mortgage Trust, Ser 2025-AURA, Class D, 144a, (TSFR1M + 2.891%), 6.517%, 10/15/42(A) | 1,094,852 | ||
| Total Commercial Mortgage-Backed Securities | $58,511,724 | |||
| Asset-Backed Securities - 35.1% | ||||
| 187,214 | 321 Henderson Receivables I LLC, Ser 2015-2A, Class A, 144a, 3.870%, 3/15/58 | 171,456 | ||
| 580,396 | AB Issuer LLC, Ser 2021-1, Class A2, 144a, 3.734%, 7/30/51 | 554,215 | ||
| 1,280,000 | Ballyrock CLO 26 Ltd. (Cayman Islands), Ser 2024-26A, Class C1, 144a, (TSFR3M + 3.300%), 6.967%, 7/25/37(A) | 1,282,173 | ||
12
Table of Contents
Touchstone Securitized Income ETF (Unaudited) (Continued)
|
Principal Amount |
Market Value |
|||
| Asset-Backed Securities - 35.1% (Continued) | ||||
| $ 2,471,000 | Bridgecrest Lending Auto Securitization Trust, Ser 2023-1, Class E, 144a, 10.370%, 7/15/30 | $ 2,609,196 | ||
| 1,390,000 | Bridgecrest Lending Auto Securitization Trust, Ser 2025-3, Class E, 144a, 6.620%, 5/17/32 | 1,379,491 | ||
| 1,365,000 | Bridgecrest Lending Auto Securitization Trust, Ser 2026-1, Class E, 144a, 6.630%, 2/15/33 | 1,356,332 | ||
| 1,850,000 | Bridgecrest Lending Auto Securitization Trust, Ser 2026-2, Class E, 144a, 7.170%, 5/16/33 | 1,860,893 | ||
| 2,240,000 | Cajun Global LLC, Ser 2025-2A, Class M, 144a, 8.720%, 11/20/55 | 2,210,661 | ||
| 1,800,000 | CIFC Funding Ltd. (Cayman Islands), Ser 2022-4A, Class DR, 144a, (TSFR3M + 2.700%), 6.380%, 7/16/35(A) | 1,782,027 | ||
| 850,905 | DB Master Finance LLC, Ser 2021-1A, Class A23, 144a, 2.791%, 11/20/51 | 756,548 | ||
| 1,045,000 | DigitalBridge Issuer LLC, Ser 2026-1A, Class A2, 144a, 6.326%, 6/25/56 | 1,039,771 | ||
| 931,592 | Driven Brands Funding LLC, Ser 2021-1A, Class A2, 144a, 2.791%, 10/20/51 | 869,603 | ||
| 2,947,500 | Driven Brands Funding LLC, Ser 2024-1A, Class A2, 144a, 6.372%, 10/20/54 | 2,965,774 | ||
| 1,845,000 | Flatiron RR CLO 22 LLC, Ser 2021-2A, Class DR, 144a, (TSFR3M + 2.400%), 6.073%, 10/15/34(A) | 1,835,030 | ||
| 487,500 | FOCUS Brands Funding, Ser 2023-2, Class A2, 144a, 8.241%, 10/30/53 | 505,951 | ||
| 1,390,000 | GLS Auto Receivables Issuer Trust, Ser 2025-2A, Class E, 144a, 7.730%, 6/15/32 | 1,445,172 | ||
| 1,545,000 | GLS Auto Receivables Issuer Trust, Ser 2026-1A, Class E, 144a, 6.510%, 3/15/33 | 1,533,521 | ||
| 2,502,500 | Goto Foods Funding LLC, Ser 2017-1A, Class A2II, 144a, 5.093%, 4/30/47 | 2,494,766 | ||
| 2,580,000 | Goto Foods Funding LLC, Ser 2026-1A, Class A2, 144a, 6.854%, 4/30/56 | 2,583,253 | ||
| 146,488 | J.G. Wentworth XXXIX LLC, Ser 2017-2A, Class A, 144a, 3.530%, 9/15/72 | 128,944 | ||
| 491,443 | J.G. Wentworth XXXIX LLC, Ser 2017-2A, Class B, 144a, 5.090%, 9/17/74 | 441,527 | ||
| 91,692 | Jack in the Box Funding LLC, Ser 2022-1A, Class A2I, 144a, 3.445%, 2/26/52 | 89,444 | ||
| 915,000 | Jack in the Box Funding LLC, Ser 2022-1A, Class A2II, 144a, 4.136%, 2/26/52 | 781,142 | ||
| 753,366 | JG Wentworth XLII LLC, Ser 2018-2A, Class B, 144a, 4.700%, 10/15/77 | 679,837 | ||
| 1,267,970 | Jimmy Johns Funding LLC, Ser 2017-1A, Class A2II, 144a, 4.846%, 7/30/47 | 1,263,702 | ||
| 2,000,000 | Mountain View CLO XVIII Ltd. (Cayman Islands), Ser 2024-1A, Class D1, 144a, (TSFR3M + 3.650%), 7.330%, 10/16/37(A) | 2,003,506 | ||
| 656,845 | Neighborly Issuer, Ser 2022-1A, Class A2, 144a, 3.695%, 1/30/52 | 622,819 | ||
| 1,914,250 | Neighborly Issuer LLC, Ser 2021-1A, Class A2, 144a, 3.584%, 4/30/51 | 1,834,945 | ||
| 563,745 | Oxford Finance Credit Fund III LP, Ser 2024-A, Class B, 144a, 7.548%, 1/14/32 | 560,987 | ||
| 3,100,000 | Oxford Finance Credit Fund III LP, Ser 2025-A, Class B, 144a, 7.194%, 8/14/34 | 3,078,904 | ||
| 1,740,000 | Oxford Finance Funding Trust LLC, Ser 2025-1A, Class B, 144a, 6.486%, 2/15/35 | 1,731,769 | ||
| 1,320,000 | Palmer Square Loan Funding Ltd. (Cayman Islands), Ser 2024-3A, Class DR, 144a, (TSFR3M + 3.750%), 7.400%, 8/8/32(A) | 1,300,002 | ||
| 1,000,000 | Palmer Square Loan Funding Ltd. (Cayman Islands), Ser 2025-2A, Class C, 144a, (TSFR3M + 2.500%), 6.173%, 7/15/33(A) | 974,845 | ||
|
Principal Amount |
Market Value |
|||
| Asset-Backed Securities - 35.1% (Continued) | ||||
| $ 2,918,025 | Planet Fitness Master Issuer LLC, Ser 2024-1A, Class A2II, 144a, 6.237%, 6/5/54 | $ 2,959,079 | ||
| 1,725,000 | Regatta VII Funding Ltd. (Cayman Islands), Ser 2016-1A, Class DR3, 144a, (TSFR3M + 2.650%), 6.327%, 6/20/34(A) | 1,676,874 | ||
| 1,069,274 | ServiceMaster Funding LLC, Ser 2020-1, Class A2I, 144a, 2.841%, 1/30/51 | 1,023,551 | ||
| 567,431 | ServiceMaster Funding LLC, Ser 2020-1, Class A2II, 144a, 3.337%, 1/30/51 | 505,542 | ||
| 738,262 | ServiceMaster Funding LLC, Ser 2021-1, Class A2II, 144a, 3.113%, 7/30/51 | 636,736 | ||
| 222,285 | Structured Asset Securities Corp, Ser 2003-25XS, Class A5, 4.204%, 8/25/33(A)(B) | 211,845 | ||
| 188,141 | Towd Point Mortgage Trust, Ser 2019-MH1, Class B1, 144a, 3.750%, 11/25/58(A)(B) | 187,285 | ||
| 1,220,000 | TSC SPV Funding LLC, Ser 2026-1A, Class M, 144a, 8.905%, 5/20/56 | 1,220,842 | ||
| 1,720,688 | Vital Care Issuer LLC, Ser 2025-1A, Class A2, 144a, 6.737%, 1/30/56 | 1,727,815 | ||
| 1,104,900 | Zaxbys Funding LLC, Ser 2021-1A, Class A2, 144a, 3.238%, 7/30/51 | 1,053,477 | ||
| Total Asset-Backed Securities | $55,931,252 | |||
| Non-Agency Collateralized Mortgage Obligations - 15.8% | ||||
| 844,265 | BRAVO Residential Funding Trust, Ser 2024-NQM4, Class A1A, 144a, 4.350%, 1/25/60(A)(B) | 833,262 | ||
| 905,925 | BRAVO Residential Funding Trust, Ser 2024-NQM8, Class A1A, 144a, 4.300%, 8/1/53(A)(B) | 891,213 | ||
| 971,670 | CIM Trust, Ser 2018-INV1, Class B4, 144a, 4.685%, 8/25/48(A)(B) | 927,925 | ||
| 1,738,453 | Citigroup Mortgage Loan Trust, Ser 2021-J1, Class A4A, 144a, 2.500%, 4/25/51(A)(B) | 1,427,908 | ||
| 910,008 | CSMC Trust, Ser 2014-SAF1, Class B3, 144a, 3.850%, 3/25/44(A)(B) | 881,144 | ||
| 350,000 | GS Mortgage Securities Corp. Trust, Ser 2019-SL1, Class B1, 144a, 3.643%, 1/25/59(A)(B) | 333,776 | ||
| 1,328,672 | GS Mortgage-Backed Securities Corp. Trust, Ser 2020-PJ3, Class B2A, 144a, 3.408%, 10/25/50(A)(B) | 1,156,969 | ||
| 1,353,163 | GS Mortgage-Backed Securities Trust, Ser 2021-MM1, Class A6, 144a, 2.500%, 4/25/52(A)(B) | 1,199,145 | ||
| 958,669 | JP Morgan Mortgage Trust, Ser 2019-1, Class B1, 144a, 4.473%, 5/25/49(A)(B) | 905,971 | ||
| 2,553,051 | JP Morgan Mortgage Trust, Ser 2019-9, Class B4, 144a, 3.799%, 5/25/50(A)(B) | 2,299,551 | ||
| 1,245,292 | JP Morgan Mortgage Trust, Ser 2020-1, Class B4, 144a, 3.815%, 6/25/50(A)(B) | 1,107,457 | ||
| 1,083,647 | JP Morgan Mortgage Trust, Ser 2020-LTV2, Class B4, 144a, 3.990%, 11/25/50(A)(B) | 967,992 | ||
| 287,245 | Mill City Mortgage Loan Trust, Ser 2016-1, Class B3, 144a, 3.877%, 4/25/57(A)(B) | 256,299 | ||
| 1,210,000 | Mill City Mortgage Loan Trust, Ser 2017-1, Class B2, 144a, 3.810%, 11/25/58(A)(B) | 1,092,468 | ||
| 1,494,480 | Mill City Mortgage Loan Trust, Ser 2017-2, Class B2, 144a, 4.052%, 7/25/59(A)(B) | 1,348,835 | ||
| 293,747 | Mill City Mortgage Loan Trust, Ser 2018-2, Class B2, 144a, 3.750%, 5/25/58(A)(B) | 250,591 | ||
| 1,202,365 | OBX Trust, Ser 2022-J1, Class B1A, 144a, 2.844%, 2/25/52(A)(B) | 1,030,070 | ||
| 1,268,555 | Sequoia Mortgage Trust, Ser 2019-4, Class B3, 144a, 3.776%, 11/25/49(A)(B) | 1,167,616 | ||
| 1,744,419 | Sequoia Mortgage Trust, Ser 2021-1, Class A19, 144a, 2.500%, 3/25/51(A)(B) | 1,434,989 | ||
| 1,872,564 | Sequoia Mortgage Trust, Ser 2026-4, Class A5, 144a, 5.000%, 3/25/56(A)(B) | 1,848,279 | ||
13
Table of Contents
Touchstone Securitized Income ETF (Unaudited) (Continued)
|
Principal Amount |
Market Value |
|||
|
Non-Agency Collateralized Mortgage Obligations - 15.8% (Continued) |
||||
| $ 875,140 | Towd Point Mortgage Trust, Ser 2015-2, Class 1B3, 144a, 3.625%, 11/25/60(A)(B) | $ 788,852 | ||
| 1,250,000 | Towd Point Mortgage Trust, Ser 2017-3, Class B3, 144a, 3.799%, 7/25/57(A)(B) | 1,075,393 | ||
| 2,222,921 | Wells Fargo Mortgage Backed Securities Trust, Ser 2022-2, Class B1, 144a, 2.961%, 12/25/51(A)(B) | 1,888,272 | ||
| Total Non-Agency Collateralized Mortgage Obligations | $25,113,977 | |||
| U.S. Government Mortgage-Backed Obligations - 2.6% | ||||
| 4,787,827 | FHLMC REMIC, Pool #SL3961, 3.000%, 2/1/53 | 4,187,491 | ||
| U.S. Treasury Obligations - 1.9% | ||||
| 3,000,000 | U.S. Treasury Note, 4.125%, 2/15/36 | 2,932,500 | ||
| Agency Collateralized Mortgage Obligations - 0.4% | ||||
| 4,728 | FHLMC Multifamily Structured Pass Through Certificates, Ser K736, Class X1, 1.263%, 7/25/26(A)(B)(C) | 0 | ||
| 28,758,743 | FHLMC Multifamily Structured Pass Through Certificates, Ser K742, Class X1, 0.694%, 3/25/28(A)(B)(C) | 243,106 | ||
| 6,918,713 | FRESB Mortgage Trust, Ser 2021-SB88, Class X1, 0.327%, 5/25/41(A)(B)(C) | 189,376 | ||
| 6,800,779 | GNMA, Ser 2016-70, Class IO, 0.756%, 4/16/58(A)(B)(C) | 265,030 | ||
| Total Agency Collateralized Mortgage Obligations | $697,512 | |||
| Corporate Bonds - 0.2% | ||||
| Financials - 0.2% | ||||
| 300,000 | First Maryland Capital I, (TSFR3M + 1.262%), 4.935%, 1/15/27(A) | 297,775 | ||
| Shares | ||||
| Short-Term Investment Fund - 9.6% | ||||
| 15,323,746 | Dreyfus Government Cash Management, Institutional Shares, 3.54%∞Ω | 15,323,746 | ||
|
Total Investment Securities-102.3% (Cost $163,805,139) |
$162,995,977 | |||
| Liabilities in Excess of Other Assets - (2.3%) | (3,737,728) | |||
| Net Assets - 100.0% | $159,258,249 | |||
| (A) | Variable rate security - Rate reflected is the rate in effect as of June 30, 2026. |
| (B) | Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
| (C) | Interest only security - This type of security represents the right to receive the monthly interest payments on an underlying pool of mortgages. Payments of principal on the pool reduce the value of the "interest only" holding. |
| ∞ | Open-End Fund. |
| Ω | Represents the 7-Day SEC yield as of June 30, 2026. |
| Portfolio Abbreviations: |
| CD - Certificate of Deposit |
| CLO - Collateralized Loan Obligation |
| FHLMC - Federal Home Loan Mortgage Corporation |
| FRESB - Freddie Mac Multifamily Securitization Small Balance Loan |
| GNMA - Government National Mortgage Association |
| IO - Interest Only |
| LLC - Limited Liability Company |
| LP - Limited Partnership |
| REMIC - Real Estate Mortgage Investment Conduit |
| TSFR1M - One Month Term Secured Overnight Financing Rate |
| TSFR3M - Three Month Term Secured Overnight Financing Rate |
| 144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2026, these securities were valued at $113,637,465 or 71.4% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees. |
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Financial Statements.
| Valuation Inputs at Reporting Date: | ||||
| Description | Level 1 | Level 2 | Level 3 | Total |
| Commercial Mortgage-Backed Securities | $- | $58,511,724 | $- | $58,511,724 |
| Asset-Backed Securities | - | 55,931,252 | - | 55,931,252 |
| Non-Agency Collateralized Mortgage Obligations | - | 25,113,977 | - | 25,113,977 |
| U.S. Government Mortgage-Backed Obligations | - | 4,187,491 | - | 4,187,491 |
| U.S. Treasury Obligations | - | 2,932,500 | - | 2,932,500 |
| Agency Collateralized Mortgage Obligations | - | 697,512 | - | 697,512 |
| Corporate Bonds | - | 297,775 | - | 297,775 |
| Short-Term Investment Fund | 15,323,746 | - | - | 15,323,746 |
| Total | $15,323,746 | $147,672,231 | $- | $162,995,977 |
See accompanying Notes to Financial Statements.
14
Table of Contents
Portfolio of Investments
Touchstone Strategic Income ETF - June 30, 2026 (Unaudited)
|
Principal Amount |
Market Value |
|||
| Corporate Bonds - 44.3% | ||||
| Financials - 9.1% | ||||
| $ 633,000 | Allstate Corp. (The), Ser B, (TSFR3M + 3.200%), 6.851%, 8/15/53(A) | $ 634,598 | ||
| 1,545,000 | Ares Capital Corp., 5.875%, 3/1/29 | 1,557,171 | ||
| 2,337,000 | Barclays PLC (United Kingdom), 2.894%, 11/24/32 | 2,097,205 | ||
| 1,048,000 | Citizens Financial Group, Inc., 5.841%, 1/23/30 | 1,074,511 | ||
| 455,000 | Credit Acceptance Corp., 144a, 9.250%, 12/15/28 | 473,777 | ||
| 104,000 | Credit Acceptance Corp., 144a, 6.625%, 3/15/30 | 104,159 | ||
| 1,366,000 | First Maryland Capital II, (TSFR3M + 1.112%), 4.775%, 2/1/27(A) | 1,358,826 | ||
| 691,000 | Freedom Mortgage Holdings LLC, 144a, 9.250%, 2/1/29 | 714,066 | ||
| 1,755,000 | Goldman Sachs Group, Inc. (The), 5.330%, 7/23/35 | 1,763,400 | ||
| 1,652,000 | Guardian Life Global Funding, 144a, 4.327%, 10/6/30 | 1,625,904 | ||
| 1,651,000 | HSBC Holdings PLC (United Kingdom), 4.675%, 3/10/32 | 1,629,364 | ||
| 292,000 | Jefferies Finance LLC / JFIN Co-Issuer Corp., 144a, 6.625%, 10/15/31 | 287,441 | ||
| 1,980,000 | JPMorgan Chase & Co., 4.946%, 10/22/35 | 1,956,471 | ||
| 728,000 | JPMorgan Chase & Co., Ser W, (TSFR3M + 1.262%), 4.913%, 5/15/47(A) | 660,660 | ||
| 750,000 | KeyCorp Capital III, 7.750%, 7/15/29 | 786,882 | ||
| 1,898,000 | Morgan Stanley, 2.484%, 9/16/36 | 1,646,947 | ||
| 614,000 | Navient Corp., 5.000%, 3/15/27 | 609,282 | ||
| 1,302,000 | PNC Capital Trust, (TSFR3M + 0.832%), 4.492%, 6/1/28(A) | 1,286,565 | ||
| 603,000 | PRA Group, Inc., 144a, 8.375%, 2/1/28 | 612,765 | ||
| 2,030,000 | State Street Corp., (TSFR3M + 1.262%), 4.926%, 6/15/47(A) | 1,826,784 | ||
| 1,576,000 | Truist Financial Corp., Ser A, (TSFR3M + 0.932%), 4.583%, 5/15/27(A) | 1,566,441 | ||
| 24,273,219 | ||||
| Energy - 7.2% | ||||
| 1,436,000 | Aker BP ASA (Norway), 144a, 5.125%, 10/1/34 | 1,408,472 | ||
| 705,000 | Azule Energy Finance PLC (Angola), 144a, 8.250%, 1/22/31 | 705,906 | ||
| 1,393,000 | Cheniere Energy Partners LP, 3.250%, 1/31/32 | 1,277,710 | ||
| 1,617,000 | Enbridge, Inc. (Canada), Ser 20-A, 5.750%, 7/15/80 | 1,626,980 | ||
| 657,000 | Energy Transfer LP, (TSFR3M + 3.279%), 6.942%, 11/1/66(A) | 655,862 | ||
| 850,000 | FS Luxembourg Sarl (Brazil), 144a, 8.625%, 6/25/33 | 812,498 | ||
| 1,356,000 | HF Sinclair Corp., 5.000%, 2/1/28 | 1,353,958 | ||
| 843,000 | Hilcorp Energy I LP / Hilcorp Finance Co., 144a, 6.000%, 2/1/31 | 816,673 | ||
| 756,654 | MC Brazil Downstream Trading SARL (Brazil), 144a, 7.250%, 6/30/31 | 710,309 | ||
| 1,614,000 | Midwest Connector Capital Co. LLC, 144a, 4.625%, 4/1/29 | 1,604,173 | ||
| 784,000 | MSU Energy SA (Argentina), 144a, 9.750%, 12/5/30 | 791,840 | ||
| 878,000 | NGPL PipeCo LLC, 144a, 7.768%, 12/15/37 | 1,019,181 | ||
| 709,650 | OHI Group SA (Brazil), 144a, 13.000%, 7/22/29 | 733,484 | ||
| 797,000 | Petroleos Mexicanos (Mexico), 6.625%, 6/15/35 | 773,610 | ||
| 649,000 | Plains All American Pipeline LP, Ser B, (TSFR3M + 4.372%), 8.023%(A)(B) | 648,996 | ||
| 2,184,000 | Sempra Infrastructure Partners LP, 144a, 3.250%, 1/15/32 | 1,937,175 | ||
| 575,000 | SESI LLC, 144a, 7.875%, 9/30/30 | 584,234 | ||
| 591,000 | SM Energy Co., 144a, 7.000%, 8/1/32 | 596,421 | ||
| 572,000 | Sunoco LP, 144a, 7.875%(B) | 593,312 | ||
| 522,000 | Venture Global LNG, Inc., 144a, 9.000%(B) | 509,650 | ||
| 19,160,444 | ||||
| Consumer Discretionary - 6.1% | ||||
| 662,000 | ADT Security Corp. (The), 144a, 5.875%, 10/15/33 | 650,290 | ||
|
Principal Amount |
Market Value |
|||
| Corporate Bonds - 44.3% (Continued) | ||||
| Consumer Discretionary - 6.1% (Continued) | ||||
| $ 1,597,664 | American Airlines Group, Inc. Pass-Through Trust, Ser 2016-1, A, 4.100%, 1/15/28 | $ 1,569,646 | ||
| 323,000 | Beazer Homes USA, Inc., 7.250%, 10/15/29 | 325,922 | ||
| 669,000 | BlueLinx Holdings, Inc., 144a, 6.000%, 11/15/29 | 660,946 | ||
| 60,000 | Carnival Corp. Ltd., 144a, 5.125%, 5/1/29 | 59,901 | ||
| 397,000 | Carnival Corp. Ltd., 144a, 5.875%, 6/15/31 | 403,955 | ||
| 976,000 | Carriage Services, Inc., 144a, 4.250%, 5/15/29 | 934,118 | ||
| 641,000 | Cimpress PLC (Ireland), 144a, 7.375%, 9/15/32 | 647,416 | ||
| 2,412,000 | General Motors Financial Co., Inc., 3.100%, 1/12/32 | 2,185,635 | ||
| 1,629,000 | Gildan Activewear, Inc. (Canada), 144a, 5.400%, 10/7/35 | 1,583,732 | ||
| 687,000 | Group 1 Automotive, Inc., 144a, 4.000%, 8/15/28 | 668,950 | ||
| 1,815,000 | Meritage Homes Corp., 144a, 3.875%, 4/15/29 | 1,761,426 | ||
| 1,703,000 | Polaris, Inc., 5.600%, 3/1/31 | 1,705,529 | ||
| 2,013,000 | United Airlines, Inc., 144a, 4.625%, 4/15/29 | 1,984,913 | ||
| 572,000 | Upbound Group, Inc., 144a, 6.375%, 2/15/29 | 567,007 | ||
| 671,000 | Voyager Parent LLC, 144a, 9.250%, 7/1/32 | 709,447 | ||
| 16,418,833 | ||||
| Industrials - 4.1% | ||||
| 1,674,000 | Amcor Flexibles North America, Inc., 5.100%, 3/17/30 | 1,692,623 | ||
| 932,000 | Amsted Industries, Inc., 144a, 4.625%, 5/15/30 | 907,538 | ||
| 579,000 | FTAI Aviation Investors LLC, 144a, 7.875%, 12/1/30 | 604,965 | ||
| 1,543,000 | Honeywell Aerospace, Inc., 144a, 4.600%, 3/16/33 | 1,516,326 | ||
| 705,000 | Manitowoc Co., Inc. (The), 144a, 9.250%, 10/1/31 | 757,902 | ||
| 741,000 | Owens-Brockway Glass Container, Inc., 144a, 7.250%, 5/15/31 | 732,309 | ||
| 600,000 | Stanley Black & Decker, Inc., 6.707%, 3/15/60 | 597,315 | ||
| 491,000 | Stonepeak Nile Parent LLC, 144a, 7.250%, 3/15/32 | 508,445 | ||
| 303,000 | Sword Purchaser LLC, 144a, 8.250%, 4/15/33 | 313,800 | ||
| 2,127,000 | Textron Financial Corp., 144a, (TSFR3M + 1.997%), 5.648%, 2/15/42(A) | 1,956,756 | ||
| 1,352,000 | Timken Co. (The), 4.500%, 12/15/28 | 1,345,534 | ||
| 10,933,513 | ||||
| Consumer Staples - 3.5% | ||||
| 173,000 | Coruripe Netherlands BV (Brazil), 10.000%, 2/10/27 | 169,713 | ||
| 1,619,000 | Element Fleet Management Corp. (Canada), 144a, 5.037%, 3/25/30 | 1,629,143 | ||
| 1,575,000 | Global Payments, Inc., 5.200%, 11/15/32 | 1,537,679 | ||
| 665,000 | Herc Holdings, Inc., 144a, 7.000%, 6/15/30 | 687,520 | ||
| 347,000 | Industrial F&B Investments III, Inc., 144a, 7.750%, 2/11/33 | 353,579 | ||
| 1,730,000 | Mars, Inc., 144a, 5.000%, 3/1/32 | 1,743,712 | ||
| 1,730,000 | Philip Morris International, Inc., 5.375%, 2/15/33 | 1,777,256 | ||
| 695,000 | Turning Point Brands, Inc., 144a, 7.625%, 3/15/32 | 719,168 | ||
| 606,000 | VT Topco, Inc., 144a, 8.500%, 8/15/30† | 614,866 | ||
| 9,232,636 | ||||
| Communication Services - 3.4% | ||||
| 1,496,000 | AT&T, Inc., 5.125%, 4/30/36 | 1,469,489 | ||
| 1,758,000 | Beacon Point DC LLC, 144a, 6.129%, 11/30/42 | 1,776,461 | ||
| 639,000 | CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 4.250%, 2/1/31 | 575,425 | ||
| 429,000 | CSC Holdings LLC, 144a, 4.625%, 12/1/30 | 99,743 | ||
| 343,000 | Directv Financing LLC / Directv Financing Co-Obligor, Inc., 144a, 10.000%, 2/15/31 | 355,896 | ||
| 303,000 | Gray Media, Inc., 144a, 5.375%, 11/15/31 | 203,295 | ||
| 1,496,000 | Meta Platforms, Inc., 6.300%, 5/15/56 | 1,495,134 | ||
| 385,000 | Neptune Bidco US, Inc., 144a, 9.290%, 4/15/29 | 392,608 | ||
| 304,000 | Paramount Global, 7.875%, 7/30/30 | 319,382 | ||
| 604,000 | Stagwell Global LLC, 144a, 5.625%, 8/15/29 | 582,432 | ||
| 1,845,000 | Videotron Ltd. (Canada), 144a, 3.625%, 6/15/29 | 1,780,760 | ||
| 9,050,625 | ||||
15
Table of Contents
Touchstone Strategic Income ETF (Unaudited) (Continued)
|
Principal Amount |
Market Value |
|||
| Corporate Bonds - 44.3% (Continued) | ||||
| Utilities - 3.0% | ||||
| $ 1,469,000 | Capital Power US Holdings, Inc. (Canada), 144a, 6.189%, 6/1/35 | $ 1,523,294 | ||
| 1,940,000 | CMS Energy Corp., 4.750%, 6/1/50 | 1,901,393 | ||
| 880,000 | NextEra Energy Capital Holdings, Inc., (TSFR3M + 2.387%), 6.051%, 6/15/67(A) | 816,142 | ||
| 1,177,000 | NextEra Energy Capital Holdings, Inc., (TSFR3M + 2.329%), 6.055%, 10/1/66(A) | 1,082,439 | ||
| 595,000 | PacifiCorp, 7.125%, 8/15/56 | 590,998 | ||
| 690,642 | Sorik Marapi Geothermal Power PT (Indonesia), 144a, 7.750%, 8/5/31 | 692,396 | ||
| 1,525,000 | Vistra Operations Co. LLC, 144a, 5.250%, 4/30/33 | 1,515,512 | ||
| 8,122,174 | ||||
| Real Estate - 2.8% | ||||
| 1,714,000 | Invitation Homes Operating Partnership LP REIT, 4.150%, 4/15/32 | 1,632,828 | ||
| 1,838,000 | Sabra Health Care LP REIT, 3.900%, 10/15/29 | 1,782,855 | ||
| 2,107,000 | Store Capital LLC REIT, 2.700%, 12/1/31 | 1,857,700 | ||
| 424,000 | Store Capital LLC REIT, 4.625%, 3/15/29 | 419,453 | ||
| 1,800,000 | VICI Properties LP / VICI Note Co., Inc. REIT, 144a, 4.625%, 12/1/29 | 1,767,571 | ||
| 7,460,407 | ||||
| Health Care - 2.0% | ||||
| 380,000 | Acadia Healthcare Co., Inc., 144a, 5.500%, 7/1/28 | 378,236 | ||
| 630,000 | Biocon Biologics Global PLC (India), 144a, 6.670%, 10/9/29 | 633,088 | ||
| 1,900,000 | HCA, Inc., 5.500%, 3/1/32 | 1,942,965 | ||
| 1,914,000 | Medline Borrower LP, 144a, 3.875%, 4/1/29 | 1,858,960 | ||
| 608,000 | Molina Healthcare, Inc., 144a, 6.500%, 2/15/31 | 618,537 | ||
| 5,431,786 | ||||
| Information Technology - 1.7% | ||||
| 562,000 | Consensus Cloud Solutions, Inc., 144a, 6.500%, 10/15/28 | 561,948 | ||
| 1,450,000 | Oracle Corp., 4.700%, 9/27/34 | 1,330,622 | ||
| 1,436,000 | Paychex, Inc., 5.600%, 4/15/35† | 1,453,206 | ||
| 1,244,000 | Salesforce, Inc., 5.550%, 3/15/36 | 1,242,424 | ||
| 4,588,200 | ||||
| Materials - 1.4% | ||||
| 691,000 | Braskem Netherlands Finance BV (Brazil), 144a, 7.250%, 2/13/33 | 412,665 | ||
| 809,000 | LYB International Finance III LLC, 5.875%, 1/15/36† | 812,314 | ||
| 650,000 | Magnera Corp., 144a, 4.750%, 11/15/29 | 606,673 | ||
| 710,000 | OCP SA (Morocco), 144a, 6.741%(B) | 706,227 | ||
| 785,000 | Vedanta Resources Finance II PLC (India), 144a, 7.750%, 7/13/37 | 780,588 | ||
| 539,000 | Vedanta Resources Finance II PLC (India), 144a, 9.475%, 7/24/30 | 545,431 | ||
| 3,863,898 | ||||
| Total Corporate Bonds | $118,535,735 | |||
| U.S. Treasury Obligations - 29.8% | ||||
| 900,000 | U.S. Treasury Bond, 4.250%, 8/15/54 | 807,188 | ||
| 130,000 | U.S. Treasury Bond, 4.500%, 11/15/54 | 121,565 | ||
| 2,455,000 | U.S. Treasury Bond, 4.625%, 11/15/55 | 2,346,443 | ||
| 12,935,000 | U.S. Treasury Bond, 4.750%, 2/15/45 | 12,701,058 | ||
| 10,355,000 | U.S. Treasury Bond, 4.750%, 8/15/55 | 10,093,294 | ||
| 2,155,000 | U.S. Treasury Bond, 4.750%, 2/15/56 | 2,103,145 | ||
| 9,340,000 | U.S. Treasury Bond, 5.000%, 5/15/56 | 9,481,559 | ||
| 11,955,000 | U.S. Treasury Note, 3.750%, 4/15/28 | 11,872,342 | ||
| 5,980,000 | U.S. Treasury Note, 3.875%, 3/31/31 | 5,899,410 | ||
| 860,000 | U.S. Treasury Note, 3.875%, 4/30/31 | 848,242 | ||
|
Principal Amount |
Market Value |
|||
| U.S. Treasury Obligations - 29.8% (Continued) | ||||
| $ 6,325,000 | U.S. Treasury Note, 4.125%, 6/30/28 | $ 6,323,518 | ||
| 14,945,000 | U.S. Treasury Note, 4.125%, 2/15/36 | 14,608,738 | ||
| 2,445,000 | U.S. Treasury Note, 4.375%, 5/15/36 | 2,436,213 | ||
| Total U.S. Treasury Obligations | $79,642,715 | |||
| Commercial Mortgage-Backed Securities - 8.5% | ||||
| 810,000 | Arbor Multifamily Mortgage Securities Trust, Ser 2021-MF3, Class C, 144a, 2.830%, 10/15/54 | 701,511 | ||
| 675,000 | BANK5, Ser 2026-5YR21, Class C, 6.365%, 4/15/59(A)(C) | 663,835 | ||
| 2,000,000 | BBCMS Mortgage Trust, Ser 2022-C17, Class XD, 144a, 3.212%, 9/15/55(A)(C)(D) | 317,650 | ||
| 1,073,671 | Benchmark Mortgage Trust, Ser 2018-B5, Class AS, 4.419%, 7/15/51 | 1,041,298 | ||
| 11,007,447 | Benchmark Mortgage Trust, Ser 2024-V5, Class XA, 1.298%, 1/10/57(A)(C)(D) | 255,967 | ||
| 5,972,230 | Benchmark Mortgage Trust, Ser 2026-B43, Class XA, 1.240%, 4/15/63(A)(C)(D) | 419,307 | ||
| 994,000 | BX Commercial Mortgage Trust, Ser 2021-21M, Class G, 144a, (TSFR1M + 3.180%), 6.805%, 10/15/36(A) | 993,379 | ||
| 1,905,000 | BX Trust, Ser 2019-OC11, Class E, 144a, 4.075%, 12/9/41(A)(C) | 1,729,214 | ||
| 1,059,000 | CFCRE Commercial Mortgage Trust, Ser 2017-C8, Class B, 4.199%, 6/15/50(A)(C) | 1,031,385 | ||
| 1,015,000 | CFCRE Commercial Mortgage Trust, Ser 2017-C8, Class C, 5.024%, 6/15/50(A)(C) | 986,371 | ||
| 1,100,000 | Citigroup Commercial Mortgage Trust, Ser 2014-GC25, Class D, 144a, 3.548%, 10/10/47 | 473,110 | ||
| 1,000,000 | Citigroup Commercial Mortgage Trust, Ser 2016-C2, Class C, 4.031%, 8/10/49(A)(C) | 987,087 | ||
| 255,000 | Citigroup Commercial Mortgage Trust, Ser 2017-P8, Class AS, 3.789%, 9/15/50(A)(C) | 243,034 | ||
| 1,250,000 | Citigroup Commercial Mortgage Trust, Ser 2017-P8, Class D, 144a, 3.000%, 9/15/50 | 799,118 | ||
| 13,837,957 | CRB Commercial Mortgage Trust, Ser 2025-CRE1, Class XA, 144a, 1.268%, 9/15/58(A)(C)(D) | 572,597 | ||
| 600,000 | CSAIL Commercial Mortgage Trust, Ser 2016-C6, Class B, 3.924%, 1/15/49(A)(C) | 579,458 | ||
| 1,500,000 | CSMC, Ser 2017-TIME, Class A, 144a, 3.646%, 11/13/39 | 1,434,978 | ||
| 705,000 | CSMC, Ser 2017-TIME, Class B, 144a, 3.775%, 11/13/39(A)(C) | 618,081 | ||
| 500,000 | CSMC, Ser 2022-LION, Class A, 144a, (TSFR1M + 3.440%), 7.065%, 2/15/27(A) | 497,456 | ||
| 540,000 | DK Trust, Ser 2025-LXP, Class D, 144a, (TSFR1M + 2.891%), 6.524%, 8/15/37(A) | 541,519 | ||
| 900,000 | ESTN Trust, Ser 2026-TOWN, Class D, 144a, 6.686%, 5/12/46(A)(C) | 920,234 | ||
| 1,500,000 | GS Mortgage Securities Trust, Ser 2016-GS2, Class C, 4.721%, 5/10/49(A)(C) | 1,441,753 | ||
| 440,000 | GS Mortgage Securities Trust, Ser 2016-GS2, Class D, 144a, 2.753%, 5/10/49 | 379,574 | ||
| 430,000 | JPMBB Commercial Mortgage Securities Trust, Ser 2014-C25, Class AS, 4.065%, 11/15/47 | 419,250 | ||
| 855,000 | JW Commercial Mortgage Trust, Ser 2026-MRCO, Class E, 144a, (TSFR1M + 3.500%), 7.125%, 6/15/39(A) | 857,828 | ||
| 1,370,000 | KSL Commercial Mortgage Trust, Ser 2026-HT3, Class E, 144a, (TSFR1M + 3.750%), 7.350%, 6/15/43(A) | 1,373,425 | ||
| 280,000 | UBS Commercial Mortgage Trust, Ser 2017-C1, Class AS, 3.724%, 6/15/50 | 274,851 | ||
16
Table of Contents
Touchstone Strategic Income ETF (Unaudited) (Continued)
|
Principal Amount |
Market Value |
|||
| Commercial Mortgage-Backed Securities - 8.5% (Continued) | ||||
| $ 620,000 | UBS Commercial Mortgage Trust, Ser 2019-C17, Class C, 3.758%, 10/15/52(A)(C) | $ 555,387 | ||
| 1,110,993 | Wells Fargo Commercial Mortgage Trust, Ser 2025-AURA, Class D, 144a, (TSFR1M + 2.891%), 6.517%, 10/15/42(A) | 1,109,782 | ||
| 436,928 | WFRBS Commercial Mortgage Trust, Ser 2013-C13, Class D, 144a, 4.088%, 5/15/45(A)(C) | 412,346 | ||
| Total Commercial Mortgage-Backed Securities | $22,630,785 | |||
| Asset-Backed Securities - 8.4% | ||||
| 520,000 | Ballyrock CLO 26 Ltd. (Cayman Islands), Ser 2024-26A, Class C1, 144a, (TSFR3M + 3.300%), 6.967%, 7/25/37(A) | 520,883 | ||
| 1,025,200 | Bridgecrest Lending Auto Securitization Trust, Ser 2023-1, Class E, 144a, 10.370%, 7/15/30 | 1,082,536 | ||
| 420,000 | Bridgecrest Lending Auto Securitization Trust, Ser 2025-3, Class E, 144a, 6.620%, 5/17/32 | 416,825 | ||
| 565,000 | Bridgecrest Lending Auto Securitization Trust, Ser 2026-1, Class E, 144a, 6.630%, 2/15/33 | 561,412 | ||
| 730,000 | Bridgecrest Lending Auto Securitization Trust, Ser 2026-2, Class E, 144a, 7.170%, 5/16/33 | 734,298 | ||
| 1,015,000 | Cajun Global LLC, Ser 2025-2A, Class M, 144a, 8.720%, 11/20/55 | 1,001,706 | ||
| 1,000,000 | CIFC Funding Ltd. (Cayman Islands), Ser 2022-4A, Class DR, 144a, (TSFR3M + 2.700%), 6.380%, 7/16/35(A) | 990,015 | ||
| 420,000 | DigitalBridge Issuer LLC, Ser 2026-1A, Class A2, 144a, 6.326%, 6/25/56 | 417,898 | ||
| 520,031 | Driven Brands Funding LLC, Ser 2020-1A, Class A2, 144a, 3.786%, 7/20/50 | 510,170 | ||
| 386,611 | Driven Brands Funding LLC, Ser 2021-1A, Class A2, 144a, 2.791%, 10/20/51 | 360,885 | ||
| 589,500 | Driven Brands Funding LLC, Ser 2024-1A, Class A2, 144a, 6.372%, 10/20/54 | 593,155 | ||
| 1,267,000 | Flatiron RR CLO 22 LLC, Ser 2021-2A, Class DR, 144a, (TSFR3M + 2.400%), 6.073%, 10/15/34(A) | 1,260,153 | ||
| 682,500 | FOCUS Brands Funding, Ser 2023-2, Class A2, 144a, 8.241%, 10/30/53 | 708,332 | ||
| 1,095,000 | GLS Auto Receivables Issuer Trust, Ser 2025-2A, Class E, 144a, 7.730%, 6/15/32 | 1,138,463 | ||
| 650,000 | GLS Auto Receivables Issuer Trust, Ser 2026-1A, Class E, 144a, 6.510%, 3/15/33 | 645,171 | ||
| 682,500 | Goto Foods Funding LLC, Ser 2017-1A, Class A2II, 144a, 5.093%, 4/30/47 | 680,391 | ||
| 1,025,000 | Goto Foods Funding LLC, Ser 2026-1A, Class A2, 144a, 6.854%, 4/30/56 | 1,026,292 | ||
| 1,417,500 | Hardee's Funding LLC, Ser 2020-1A, Class A2, 144a, 3.981%, 12/20/50 | 1,374,699 | ||
| 55,442 | Jack in the Box Funding LLC, Ser 2022-1A, Class A2I, 144a, 3.445%, 2/26/52 | 54,083 | ||
| 1,368,275 | Jimmy Johns Funding LLC, Ser 2017-1A, Class A2II, 144a, 4.846%, 7/30/47 | 1,363,670 | ||
| 1,140,000 | Neighborly Issuer LLC, Ser 2021-1A, Class A2, 144a, 3.584%, 4/30/51 | 1,092,771 | ||
| 458,512 | Oxford Finance Credit Fund III LP, Ser 2024-A, Class B, 144a, 7.548%, 1/14/32 | 456,269 | ||
| 510,000 | Oxford Finance Credit Fund III LP, Ser 2025-A, Class B, 144a, 7.194%, 8/14/34 | 506,530 | ||
| 787,000 | Oxford Finance Funding Trust LLC, Ser 2025-1A, Class B, 144a, 6.486%, 2/15/35 | 783,277 | ||
| 1,000,000 | Palmer Square Loan Funding Ltd. (Cayman Islands), Ser 2025-2A, Class C, 144a, (TSFR3M + 2.500%), 6.173%, 7/15/33(A) | 974,845 | ||
|
Principal Amount |
Market Value |
|||
| Asset-Backed Securities - 8.4% (Continued) | ||||
| $ 1,110,225 | Planet Fitness Master Issuer LLC, Ser 2024-1A, Class A2II, 144a, 6.237%, 6/5/54 | $ 1,125,845 | ||
| 490,000 | TSC SPV Funding LLC, Ser 2026-1A, Class M, 144a, 8.905%, 5/20/56 | 490,338 | ||
| 788,025 | Vital Care Issuer LLC, Ser 2025-1A, Class A2, 144a, 6.737%, 1/30/56 | 791,289 | ||
| 952,500 | Zaxbys Funding LLC, Ser 2021-1A, Class A2, 144a, 3.238%, 7/30/51 | 908,170 | ||
| Total Asset-Backed Securities | $22,570,371 | |||
| Non-Agency Collateralized Mortgage Obligations - 3.9% | ||||
| 761,898 | BRAVO Residential Funding Trust, Ser 2024-NQM4, Class A1A, 144a, 4.350%, 1/25/60(A)(C) | 751,968 | ||
| 716,313 | BRAVO Residential Funding Trust, Ser 2024-NQM8, Class A1A, 144a, 4.300%, 8/1/53(A)(C) | 704,680 | ||
| 971,670 | CIM Trust, Ser 2018-INV1, Class B4, 144a, 4.685%, 8/25/48(A)(C) | 927,925 | ||
| 507,436 | GS Mortgage-Backed Securities Trust, Ser 2021-MM1, Class A6, 144a, 2.500%, 4/25/52(A)(C) | 449,680 | ||
| 1,759,097 | JP Morgan Mortgage Trust, Ser 2018-6, Class B2, 144a, 3.900%, 12/25/48(A)(C) | 1,613,544 | ||
| 479,335 | JP Morgan Mortgage Trust, Ser 2019-1, Class B1, 144a, 4.473%, 5/25/49(A)(C) | 452,985 | ||
| 622,646 | JP Morgan Mortgage Trust, Ser 2020-1, Class B4, 144a, 3.815%, 6/25/50(A)(C) | 553,729 | ||
| 606,842 | JP Morgan Mortgage Trust, Ser 2020-LTV2, Class B4, 144a, 3.990%, 11/25/50(A)(C) | 542,075 | ||
| 767,343 | Mello Mortgage Capital Acceptance, Ser 2022-INV2, Class A15, 144a, 3.000%, 4/25/52(A)(C) | 655,539 | ||
| 1,000,000 | Mill City Mortgage Loan Trust, Ser 2017-1, Class B2, 144a, 3.810%, 11/25/58(A)(C) | 902,866 | ||
| 592,003 | Mill City Mortgage Loan Trust, Ser 2017-2, Class B2, 144a, 4.052%, 7/25/59(A)(C) | 534,309 | ||
| 372,996 | OBX Trust, Ser 2022-J1, Class B1A, 144a, 2.844%, 2/25/52(A)(C) | 319,547 | ||
| 473,594 | Sequoia Mortgage Trust, Ser 2019-4, Class B3, 144a, 3.776%, 11/25/49(A)(C) | 435,910 | ||
| 760,289 | Sequoia Mortgage Trust, Ser 2026-4, Class A5, 144a, 5.000%, 3/25/56(A)(C) | 750,429 | ||
| 900,000 | Towd Point Mortgage Trust, Ser 2017-3, Class B3, 144a, 3.799%, 7/25/57(A)(C) | 774,283 | ||
| Total Non-Agency Collateralized Mortgage Obligations | $10,369,469 | |||
| Shares | ||||
| Common Stocks - 1.6% | ||||
| Information Technology - 0.4% | ||||
| 1,926 | International Business Machines Corp. | 541,610 | ||
| 1,470 | Texas Instruments, Inc. | 438,163 | ||
| 979,773 | ||||
| Industrials - 0.4% | ||||
| 2,420 | RTX Corp. | 459,147 | ||
| 5,480 | Stanley Black & Decker, Inc. | 515,777 | ||
| 974,924 | ||||
| Financials - 0.4% | ||||
| 8,546 | Bank of America Corp. | 486,951 | ||
| 457 | Goldman Sachs Group, Inc. (The) | 462,196 | ||
| 949,147 | ||||
| Health Care - 0.3% | ||||
| 1,955 | Johnson & Johnson | 496,511 | ||
| 5,776 | Medtronic PLC | 451,857 | ||
| 948,368 | ||||
17
Table of Contents
Touchstone Strategic Income ETF (Unaudited) (Continued)
| Shares | MarketValue | |||
| Common Stocks - 1.6% (Continued) | ||||
| Energy - 0.1% | ||||
| 2,902 | Exxon Mobil Corp. | $ 396,762 | ||
| Total Common Stocks | $4,248,974 | |||
|
Principal Amount |
||||
| Sovereign Government Obligations - 0.7% | ||||
| $ 4,640 | Ghana Government International Bond, 144a, 4.734%, 7/3/26# | 4,625 | ||
| 122,815 | Ghana Government International Bond, 144a, 5.000%, 7/3/29(A)(C) | 121,095 | ||
| 649,354 | Ghana Government International Bond, 144a, 5.502%, 1/3/30# | 582,131 | ||
| 777,000 | Provincia de Cordoba, 144a, 8.600%, 2/3/35 | 773,115 | ||
| 435,130 | Sri Lanka Government International Bond, 144a, 4.000%, 4/15/28 | 420,211 | ||
| Total Sovereign Government Obligations | $1,901,177 | |||
| U.S. Government Mortgage-Backed Obligations - 0.7% | ||||
| 1,986,025 | FHLMC REMIC, Pool #SL3961, 3.000%, 2/1/53 | 1,737,002 | ||
| Shares | ||||
| Short-Term Investment Fund - 3.1% | ||||
| 8,435,169 | Dreyfus Government Cash Management, Institutional Shares, 3.54%∞Ω** | 8,435,169 | ||
|
Total Investment Securities-101.0% (Cost $268,586,032) |
$270,071,397 | |||
| Liabilities in Excess of Other Assets - (1.0%) | (2,709,737) | |||
| Net Assets - 100.0% | $267,361,660 | |||
| (A) | Variable rate security - Rate reflected is the rate in effect as of June 30, 2026. |
| (B) | Perpetual Bond - A bond or preferred stock with no definite maturity date. |
| (C) | Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
| (D) | Interest only security - This type of security represents the right to receive the monthly interest payments on an underlying pool of mortgages. Payments of principal on the pool reduce the value of the "interest only" holding. |
| ** | All or a portion of the security represents collateral for securities loaned. |
| † | All or a portion of the security is on loan. The total market value of the securities on loan as of June 30, 2026 was $2,265,867. |
| # | Zero coupon bond - Rate shown reflects effective yield to maturity at time of purchase. |
| ∞ | Open-End Fund. |
| Ω | Represents the 7-Day SEC yield as of June 30, 2026. |
| Portfolio Abbreviations: |
| CLO - Collateralized Loan Obligation |
| FHLMC - Federal Home Loan Mortgage Corporation |
| LLC - Limited Liability Company |
| LP - Limited Partnership |
| PLC - Public Limited Company |
| REIT - Real Estate Investment Trust |
| REMIC - Real Estate Mortgage Investment Conduit |
| TSFR1M - One Month Term Secured Overnight Financing Rate |
| TSFR3M - Three Month Term Secured Overnight Financing Rate |
| 144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2026, these securities were valued at $107,260,135 or 40.1% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees. |
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Financial Statements.
| Valuation Inputs at Reporting Date: | ||||
| Description | Level 1 | Level 2 | Level 3 | Total |
| Assets: | ||||
| Corporate Bonds | $- | $118,535,735 | $- | $118,535,735 |
| U.S. Treasury Obligations | - | 79,642,715 | - | 79,642,715 |
| Commercial Mortgage-Backed Securities | - | 22,630,785 | - | 22,630,785 |
| Asset-Backed Securities | - | 22,570,371 | - | 22,570,371 |
| Non-Agency Collateralized Mortgage Obligations | - | 10,369,469 | - | 10,369,469 |
| Common Stocks | 4,248,974 | - | - | 4,248,974 |
| Sovereign Government Obligations | - | 1,901,177 | - | 1,901,177 |
| U.S. Government Mortgage-Backed Obligations | - | 1,737,002 | - | 1,737,002 |
| Short-Term Investment Fund | 8,435,169 | - | - | 8,435,169 |
| Other Financial Instruments | ||||
| Futures | ||||
| Interest rate contracts | 10,753 | - | - | 10,753 |
| Total Assets | $12,694,896 | $257,387,254 | $- | $270,082,150 |
| Liabilities: | ||||
| Other Financial Instruments | ||||
| Futures | ||||
| Interest rate contracts | $(46,071) | $- | $- | $(46,071) |
| Total Liabilities | $(46,071) | $- | $- | $(46,071) |
| Total | $12,648,825 | $257,387,254 | $- | $270,036,079 |
18
Table of Contents
Touchstone Strategic Income ETF (Unaudited) (Continued)
Futures Contracts
At June 30, 2026, $486,750 was segregated with the broker as collateral for futures contracts. The Fund had the following futures contracts, brokered by Wells Fargo, open at June 30, 2026:
| Description | Expiration Date |
Number of Contracts |
Notional Value |
Unrealized Appreciation/ Depreciation |
| Long Futures: | ||||
| 5-Year U.S. Treasury Note | 9/30/2026 | 204 | $21,837,564 | $10,753 |
| 30-Year U.S. Ultra Treasury Bond | 9/21/2026 | 45 | 5,227,031 | (46,071) |
| $(35,318) |
See accompanying Notes to Financial Statements.
19
Table of Contents
Portfolio of Investments
Touchstone Ultra Short Income ETF - June 30, 2026 (Unaudited)
|
Principal Amount |
Market Value |
|||
| Asset-Backed Securities - 40.2% | ||||
| $ 195,806 | 321 Henderson Receivables VI LLC, Ser 2010-1A, Class A, 144a, 5.560%, 7/15/59 | $ 196,437 | ||
| 1,825,000 | Affirm Asset Securitization Trust, Ser 2025-X2, Class B, 144a, 4.560%, 10/15/30 | 1,824,327 | ||
| 7,670,000 | Affirm Master Trust, Ser 2025-2A, Class B, 144a, 5.060%, 7/15/33 | 7,680,361 | ||
| 121,792 | American Credit Acceptance Receivables Trust, Ser 2022-4, Class D, 144a, 8.000%, 2/15/29 | 121,961 | ||
| 1,350,131 | American Credit Acceptance Receivables Trust, Ser 2023-1, Class D, 144a, 6.350%, 4/12/29 | 1,357,351 | ||
| 1,987,935 | American Credit Acceptance Receivables Trust, Ser 2023-2, Class D, 144a, 6.470%, 8/13/29 | 2,004,096 | ||
| 5,818,752 | American Credit Acceptance Receivables Trust, Ser 2023-3, Class D, 144a, 6.820%, 10/12/29 | 5,893,586 | ||
| 172,388 | American Credit Acceptance Receivables Trust, Ser 2023-4, Class C, 144a, 6.990%, 9/12/30 | 172,901 | ||
| 227,869 | American Credit Acceptance Receivables Trust, Ser 2024-1, Class C, 144a, 5.630%, 1/14/30 | 228,203 | ||
| 5,517,000 | American Credit Acceptance Receivables Trust, Ser 2024-1, Class D, 144a, 5.860%, 5/13/30 | 5,563,683 | ||
| 1,435,970 | American Credit Acceptance Receivables Trust, Ser 2024-2, Class C, 144a, 6.240%, 4/12/30 | 1,442,082 | ||
| 6,500,000 | American Credit Acceptance Receivables Trust, Ser 2025-3, Class C, 144a, 4.950%, 7/12/32 | 6,501,026 | ||
| 2,097,000 | American Credit Acceptance Receivables Trust, Ser 2025-4, Class C, 144a, 4.830%, 1/13/31 | 2,096,451 | ||
| 509,904 | Americredit Automobile Receivables Trust, Ser 2022-1, Class C, 2.980%, 9/20/27 | 509,044 | ||
| 3,330,000 | AmeriCredit Automobile Receivables Trust, Ser 2026-1, Class A3, 144a, 4.150%, 11/18/32 | 3,311,139 | ||
| 4,627,675 | Arbys Funding LLC, Ser 2020-1A, Class A2, 144a, 3.237%, 7/30/50 | 4,527,129 | ||
| 3,500,000 | Audax Senior Debt CLO 4 LLC (Cayman Islands), Ser 2020-4A, Class ARR, 144a, (TSFR3M + 1.500%), 5.131%, 4/20/35(A) | 3,501,701 | ||
| 4,000,000 | Audax Senior Debt CLO 7 LLC, Ser 2023-7A, Class AR2, 144a, (TSFR3M + 1.600%), 5.246%, 4/20/35(A) | 4,009,612 | ||
| 1,965,000 | Ballyrock CLO Ltd. (Cayman Islands), Ser 2019-2A, Class XR3, 144a, (TSFR3M + 0.850%), 4.517%, 10/25/38(A) | 1,964,542 | ||
| 752,901 | BCRED BSL Static CLO Ltd. (Cayman Islands), Ser 2025-1A, Class AR, 144a, (TSFR3M + 1.250%), 4.917%, 7/24/35(A) | 753,283 | ||
| 2,150,000 | Bridgecrest Lending Auto Securitization Trust, Ser 2023-1, Class E, 144a, 10.370%, 7/15/30 | 2,270,243 | ||
| 1,497,000 | Bridgecrest Lending Auto Securitization Trust, Ser 2025-1, Class C, 5.150%, 12/17/29 | 1,503,250 | ||
| 1,000,000 | Bridgecrest Lending Auto Securitization Trust, Ser 2025-2, Class C, 5.170%, 3/17/31 | 1,004,220 | ||
| 1,557,376 | Carlyle US CLO Ltd. (Cayman Islands), Ser 2019-1A, Class A1A2, 144a, (TSFR3M + 0.950%), 4.625%, 4/20/31(A) | 1,558,217 | ||
| 6,471,000 | CCG Receivables Trust, Ser 2024-1, Class D, 144a, 5.800%, 3/15/32 | 6,559,245 | ||
| 3,700,000 | Consumer Portfolio Services Auto Trust, Ser 2025-A, Class C, 144a, 5.250%, 4/15/31 | 3,717,554 | ||
| 1,665,000 | CoreVest American Finance Trust, Ser 2021-3, Class B, 144a, 2.494%, 10/15/54 | 1,651,059 | ||
| 3,720,690 | Credit Acceptance Auto Loan Trust, Ser 2023-1A, Class C, 144a, 7.710%, 7/15/33 | 3,746,393 | ||
| 218,275 | Credit Acceptance Auto Loan Trust, Ser 2023-5A, Class A, 144a, 6.130%, 12/15/33 | 219,008 | ||
|
Principal Amount |
Market Value |
|||
| Asset-Backed Securities - 40.2% (Continued) | ||||
| $ 2,770,000 | Credit Acceptance Auto Loan Trust, Ser 2024-2A, Class B, 144a, 6.110%, 8/15/34 | $ 2,809,728 | ||
| 6,500,000 | Credit Acceptance Auto Loan Trust, Ser 2024-3A, Class A, 144a, 4.680%, 9/15/34 | 6,509,162 | ||
| 4,175,000 | Drive Auto Receivables Trust, Ser 2024-2, Class B, 4.520%, 7/16/29 | 4,178,006 | ||
| 1,500,000 | Drive Auto Receivables Trust, Ser 2024-2, Class C, 4.670%, 5/17/32 | 1,502,686 | ||
| 759,244 | Drive Auto Receivables Trust, Ser 2025-2, Class A2, 4.290%, 10/16/28 | 759,366 | ||
| 693,205 | Driven Brands Funding LLC, Ser 2020-2A, Class A2, 144a, 3.237%, 1/20/51 | 666,616 | ||
| 758,822 | Dryden 53 CLO Ltd. (Cayman Islands), Ser 2017-53A, Class AR, 144a, (TSFR3M + 1.000%), 4.673%, 1/15/31(A) | 758,968 | ||
| 1,293,597 | Dryden 80 CLO Ltd. (Cayman Islands), Ser 2019-80A, Class ARR, 144a, (TSFR3M + 0.950%), 4.630%, 1/17/33(A) | 1,292,601 | ||
| 1,129,948 | DT Auto Owner Trust, Ser 2023-1A, Class D, 144a, 6.440%, 11/15/28 | 1,139,050 | ||
| 5,820,000 | DT Auto Owner Trust, Ser 2023-2A, Class D, 144a, 6.620%, 2/15/29 | 5,893,247 | ||
| 78,179 | Elara HGV Timeshare Issuer LLC, Ser 2021-A, Class A, 144a, 1.360%, 8/27/35 | 75,123 | ||
| 4,081,294 | Elara HGV Timeshare Issuer LLC, Ser 2025-A, Class A, 144a, 4.540%, 1/25/40 | 4,037,285 | ||
| 783,000 | Elmwood CLO X Ltd. (Cayman Islands), Ser 2021-3A, Class X, 144a, (TSFR3M + 0.950%), 4.625%, 7/20/38(A) | 782,980 | ||
| 1,165,902 | Exeter Automobile Receivables Trust, Ser 2022-5A, Class D, 7.400%, 2/15/29 | 1,178,582 | ||
| 88,673 | Exeter Automobile Receivables Trust, Ser 2023-4A, Class C, 6.510%, 8/15/28 | 88,813 | ||
| 4,450,000 | FirstKey Homes Trust, Ser 2021-SFR1, Class C, 144a, 1.888%, 8/17/38 | 4,429,572 | ||
| 1,539,000 | Flatiron CLO 20 Ltd. (Cayman Islands), Ser 2020-1A, Class XR, 144a, (TSFR3M + 0.900%), 4.542%, 11/20/38(A) | 1,539,416 | ||
| 187,906 | Fortress Credit Opportunities XXIX CLO Ltd. (Cayman Islands), Ser 2025-29A, Class A1, 144a, (TSFR3M + 1.250%), 4.925%, 4/20/33(A) | 187,928 | ||
| 5,143,757 | Fortress Credit Opportunities XXXV CLO Ltd. (Cayman Islands), Ser 2025-35A, Class A1, 144a, (TSFR3M + 1.400%), 5.075%, 7/20/33(A) | 5,145,054 | ||
| 683,148 | GLS Auto Receivables Issuer Trust, Ser 2022-2A, Class D, 144a, 6.150%, 4/17/28 | 685,828 | ||
| 782,676 | GLS Auto Receivables Issuer Trust, Ser 2022-3A, Class D, 144a, 6.420%, 6/15/28 | 787,570 | ||
| 1,699,464 | GLS Auto Receivables Issuer Trust, Ser 2023-1A, Class D, 144a, 7.010%, 1/16/29 | 1,719,374 | ||
| 1,800,000 | GLS Auto Receivables Issuer Trust, Ser 2025-1A, Class C, 144a, 5.070%, 11/15/30 | 1,806,750 | ||
| 2,350,000 | GLS Auto Receivables Issuer Trust, Ser 2025-3A, Class C, 144a, 4.690%, 5/15/31 | 2,342,703 | ||
| 298,640 | GLS Auto Select Receivables Trust, Ser 2024-3A, Class A2, 144a, 5.590%, 10/15/29 | 300,534 | ||
| 5,272,518 | GLS Auto Select Receivables Trust, Ser 2025-3A, Class A2, 144a, 4.460%, 10/15/30 | 5,267,550 | ||
| 1,200,000 | Golub Capital Partners CLO 61M, Ser 2022-61A, Class A1B, 144a, 4.550%, 7/25/35 | 1,189,406 | ||
| 4,049,500 | Goto Foods Funding LLC, Ser 2017-1A, Class A2II, 144a, 5.093%, 4/30/47 | 4,036,984 | ||
| 675,000 | GreatAmerica Leasing Receivables Funding LLC Series, Ser 2022-1, Class C, 144a, 5.980%, 7/15/30 | 678,226 | ||
20
Table of Contents
Touchstone Ultra Short Income ETF (Unaudited) (Continued)
|
Principal Amount |
Market Value |
|||
| Asset-Backed Securities - 40.2% (Continued) | ||||
| $ 3,825,000 | GreatAmerica Leasing Receivables Funding LLC Series, Ser 2024-2, Class A3, 144a, 5.000%, 9/15/28 | $ 3,848,271 | ||
| 1,522,000 | Greywolf CLO IV Ltd. (Cayman Islands), Ser 2019-1A, Class A1R2, 144a, (TSFR3M + 1.240%), 4.920%, 4/17/34(A) | 1,523,441 | ||
| 806,552 | Hilton Grand Vacations Trust, Ser 2020-AA, Class A, 144a, 2.740%, 2/25/39 | 797,492 | ||
| 128,534 | Hilton Grand Vacations Trust, Ser 2020-AA, Class B, 144a, 4.220%, 2/25/39 | 127,917 | ||
| 1,505,086 | Hilton Grand Vacations Trust, Ser 2022-1D, Class A, 144a, 3.610%, 6/20/34 | 1,504,464 | ||
| 268,658 | Hilton Grand Vacations Trust, Ser 2022-1D, Class B, 144a, 4.100%, 6/20/34 | 268,566 | ||
| 160,568 | Jack in the Box Funding LLC, Ser 2022-1A, Class A2I, 144a, 3.445%, 2/26/52 | 156,632 | ||
| 3,964,563 | Jimmy Johns Funding LLC, Ser 2017-1A, Class A2II, 144a, 4.846%, 7/30/47 | 3,951,218 | ||
| 5,203,200 | Jimmy Johns Funding LLC, Ser 2022-1A, Class A2I, 144a, 4.077%, 4/30/52 | 5,162,256 | ||
| 2,750,000 | LAD Auto Receivables Trust, Ser 2025-1A, Class B, 144a, 5.050%, 5/15/30 | 2,768,848 | ||
| 126,081 | M&T Equipment Notes, Ser 2024-1A, Class A2, 144a, 4.990%, 8/18/31 | 126,207 | ||
| 277,715 | Madison Park Funding XIV Ltd. (Cayman Islands), Ser 2014-14A, Class AR4, 144a, (TSFR3M + 0.960%), 4.624%, 10/22/30(A) | 277,639 | ||
| 222,750 | Madison Park Funding XXVIII Ltd. (Cayman Islands), Ser 2018-28A, Class X, 144a, (TSFR3M + 0.900%), 4.573%, 1/15/38(A) | 222,752 | ||
| 4,500,000 | MMAF Equipment Finance LLC, Ser 2020-A, Class A4, 144a, 1.400%, 8/9/30 | 4,404,884 | ||
| 595,319 | MVW LLC, Ser 2021-2A, Class A, 144a, 1.430%, 5/20/39 | 568,187 | ||
| 4,942,516 | MVW LLC, Ser 2024-2A, Class A, 144a, 4.430%, 3/20/42 | 4,918,148 | ||
| 967,500 | Neighborly Issuer, Ser 2023-1A, Class A2, 144a, 7.308%, 1/30/53 | 968,925 | ||
| 3,346,875 | OHA Credit Funding 17-R Ltd. (Cayman Islands), Ser 2024-17RA, Class X, 144a, (TSFR3M + 0.800%), 4.475%, 4/20/39(A) | 3,345,740 | ||
| 1,641,584 | OneMain Direct Auto Receivables Trust, Ser 2022-1A, Class B, 144a, 5.070%, 6/14/29 | 1,643,460 | ||
| 2,268,004 | OneMain Direct Auto Receivables Trust, Ser 2023-1A, Class A, 144a, 5.410%, 11/14/29 | 2,277,719 | ||
| 5,200,000 | OneMain Financial Issuance Trust, Ser 2019-2A, Class A, 144a, 3.140%, 10/14/36 | 5,133,541 | ||
| 928,426 | OneMain Financial Issuance Trust, Ser 2021-1A, Class A1, 144a, 1.550%, 6/16/36 | 910,946 | ||
| 209,848 | OneMain Financial Issuance Trust, Ser 2022-S1, Class A, 144a, 4.130%, 5/14/35 | 209,807 | ||
| 225,559 | Oxford Finance Credit Fund III LP, Ser 2024-A, Class A2, 144a, 6.675%, 1/14/32 | 227,092 | ||
| 529,480 | Oxford Finance Funding Trust, Ser 2023-1A, Class B, 144a, 7.879%, 2/15/31 | 534,209 | ||
| 3,330,811 | Palmer Square Loan Funding Ltd. (Cayman Islands), Ser 2024-1A, Class A1R, 144a, (TSFR3M + 0.820%), 4.493%, 10/15/32(A) | 3,328,313 | ||
| 2,201,092 | Palmer Square Loan Funding Ltd. (Cayman Islands), Ser 2025-2A, Class A1, 144a, (TSFR3M + 0.940%), 4.613%, 7/15/33(A) | 2,199,992 | ||
| 2,695,000 | Progress Residential Trust, Ser 2022-SFR3, Class B, 144a, 3.600%, 4/17/39 | 2,661,949 | ||
|
Principal Amount |
Market Value |
|||
| Asset-Backed Securities - 40.2% (Continued) | ||||
| $ 5,721,794 | RCKT Mortgage Trust, Ser 2024-CES8, Class A1A, 144a, 5.490%, 11/25/44(A)(B) | $ 5,733,361 | ||
| 248,571 | Regatta XX Funding Ltd. (Cayman Islands), Ser 2021-2A, Class X, 144a, (TSFR3M + 0.970%), 4.643%, 1/15/38(A) | 248,570 | ||
| 6,870,000 | Santander Drive Auto Receivables Trust, Ser 2025-4, Class A3, 4.170%, 4/15/30 | 6,859,381 | ||
| 155,877 | SCF Equipment Leasing LLC, Ser 2025-1A, Class A2, 144a, 4.820%, 7/22/30 | 155,887 | ||
| 2,095,518 | Sierra Timeshare Receivables Funding LLC, Ser 2023-1A, Class A, 144a, 5.200%, 1/20/40 | 2,104,073 | ||
| 140,482 | Sierra Timeshare Receivables Funding LLC, Ser 2023-2A, Class C, 144a, 7.300%, 4/20/40 | 144,029 | ||
| 639,030 | Sierra Timeshare Receivables Funding LLC, Ser 2024-2A, Class C, 144a, 5.830%, 6/20/41 | 644,376 | ||
| 1,517,860 | Towd Point Mortgage Trust, Ser 2019-HY1, Class A1, 144a, (TSFR1M + 1.114%), 4.763%, 10/25/48(A) | 1,518,562 | ||
| 2,629,660 | Wendy's Funding LLC, Ser 2018-1A, Class A2II, 144a, 3.884%, 3/15/48 | 2,569,516 | ||
| 95,204 | Westlake Automobile Receivables Trust, Ser 2022-2A, Class D, 144a, 5.480%, 9/15/27 | 95,276 | ||
| 608,628 | Westlake Automobile Receivables Trust, Ser 2022-3A, Class D, 144a, 6.680%, 4/17/28 | 610,193 | ||
| 7,086,000 | Westlake Automobile Receivables Trust, Ser 2023-1A, Class D, 144a, 6.790%, 11/15/28 | 7,157,924 | ||
| 2,000,000 | Westlake Automobile Receivables Trust, Ser 2023-3A, Class D, 144a, 6.470%, 3/15/29 | 2,024,633 | ||
| 2,000,000 | Westlake Automobile Receivables Trust, Ser 2025-1A, Class C, 144a, 5.140%, 10/15/30 | 2,014,379 | ||
| 6,750,000 | Westlake Automobile Receivables Trust, Ser 2025-2A, Class C, 144a, 4.850%, 1/15/31 | 6,758,898 | ||
| 1,595,468 | Woodmont LP (Cayman Islands), Ser 2025-14A, Class A1, 144a, (TSFR3M + 1.250%), 4.925%, 1/20/34(A) | 1,596,308 | ||
| Total Asset-Backed Securities | $231,981,193 | |||
| Corporate Bonds - 21.5% | ||||
| Financials - 5.4% | ||||
| 5,000,000 | Bank of Montreal (Canada), 5.370%, 6/4/27 | 5,046,001 | ||
| 3,577,000 | Barclays PLC (United Kingdom), 5.674%, 3/12/28 | 3,606,181 | ||
| 615,000 | Citibank NA, (SOFR + 0.708%), 4.335%, 8/6/26(A) | 615,037 | ||
| 2,535,000 | Citizens Financial Group, Inc., 2.850%, 7/27/26 | 2,532,342 | ||
| 1,021,000 | Fifth Third Bank NA, (SOFR + 0.810%), 4.440%, 1/28/28(A) | 1,021,738 | ||
| 425,000 | Fifth Third Financial Corp., 3.800%, 7/22/26 | 424,870 | ||
| 250,000 | Huntington National Bank (The), 4.871%, 4/12/28 | 250,545 | ||
| 1,995,000 | Jackson National Life Global Funding, 144a, 4.900%, 1/13/27 | 1,998,646 | ||
| 400,000 | JPMorgan Chase & Co., 4.125%, 12/15/26 | 399,943 | ||
| 411,000 | JPMorgan Chase & Co., Ser B, (TSFR3M + 0.762%), 4.425%, 2/1/27(A) | 409,110 | ||
| 5,000,000 | Manulife Financial Corp. (Canada), 2.484%, 5/19/27 | 4,920,131 | ||
| 450,000 | Nomura Holdings, Inc. (Japan), 2.329%, 1/22/27 | 444,931 | ||
| 3,300,000 | Ontario Teachers' Cadillac Fairview Properties Trust (Canada), 144a, 3.875%, 3/20/27 | 3,286,062 | ||
| 735,000 | PNC Capital Trust, (TSFR3M + 0.832%), 4.492%, 6/1/28(A) | 726,287 | ||
| 650,000 | Reliance Standard Life Global Funding II, 144a, 2.750%, 1/21/27 | 643,004 | ||
| 3,225,000 | Truist Financial Corp., (TSFR3M + 0.912%), 4.576%, 3/15/28(A) | 3,188,756 | ||
| 2,000,000 | Truist Financial Corp., Ser A, (TSFR3M + 0.932%), 4.583%, 5/15/27(A) | 1,987,870 | ||
| 31,501,454 | ||||
21
Table of Contents
Touchstone Ultra Short Income ETF (Unaudited) (Continued)
|
Principal Amount |
Market Value |
|||
| Corporate Bonds - 21.5% (Continued) | ||||
| Industrials - 4.1% | ||||
| $ 6,239,000 | Amrize Finance US LLC, 4.600%, 4/7/27 | $ 6,246,944 | ||
| 6,026,000 | Berry Global, Inc., 1.650%, 1/15/27 | 5,935,417 | ||
| 5,000,175 | BNSF Railway Co. Pass-Through Trust, 144a, 3.442%, 6/16/28 | 4,917,840 | ||
| 700,000 | CNH Industrial Capital LLC, 1.450%, 7/15/26 | 699,228 | ||
| 1,900,000 | CNH Industrial Capital LLC, 4.500%, 10/8/27 | 1,899,023 | ||
| 250,000 | L3Harris Technologies, Inc., 5.400%, 1/15/27 | 251,255 | ||
| 2,935,000 | Penske Truck Leasing Co. LP / PTL Finance Corp., 144a, 3.400%, 11/15/26 | 2,923,189 | ||
| 835,000 | Ryder System, Inc., MTN, 1.750%, 9/1/26 | 831,147 | ||
| 23,704,043 | ||||
| Consumer Discretionary - 3.6% | ||||
| 2,845,000 | Daimler Truck Finance North America LLC (Germany), 144a, 4.300%, 8/12/27 | 2,839,537 | ||
| 1,290,000 | Daimler Truck Finance North America LLC (Germany), 144a, 5.125%, 9/25/27 | 1,299,143 | ||
| 4,100,000 | General Motors Financial Co., Inc., 4.350%, 1/17/27 | 4,096,052 | ||
| 1,119,000 | General Motors Financial Co., Inc., (SOFRINDX + 1.050%), 4.684%, 7/15/27(A) | 1,121,081 | ||
| 500,000 | Hyundai Capital America, 144a, 5.250%, 1/8/27 | 502,065 | ||
| 1,143,000 | Hyundai Capital America, 144a, 5.300%, 3/19/27 | 1,149,953 | ||
| 1,000,000 | Mercedes-Benz Finance North America LLC (Germany), 144a, (SOFR + 0.630%), 4.260%, 7/31/26(A) | 1,000,340 | ||
| 2,820,000 | Mercedes-Benz Finance North America LLC (Germany), 144a, 4.800%, 1/11/27 | 2,828,008 | ||
| 2,862,794 | United Airlines, Inc. Pass-Through Trust, Ser 2015-1, AA, 3.450%, 12/1/27 | 2,806,818 | ||
| 1,066,000 | Volkswagen Group of America Finance LLC (Germany), 144a, 3.200%, 9/26/26 | 1,062,446 | ||
| 1,145,000 | Volkswagen Group of America Finance LLC (Germany), 144a, 4.850%, 8/15/27 | 1,147,543 | ||
| 800,000 | Volkswagen Group of America Finance LLC (Germany), 144a, 5.700%, 9/12/26 | 801,851 | ||
| 20,654,837 | ||||
| Real Estate - 2.0% | ||||
| 1,445,000 | American Tower Corp. REIT, 3.125%, 1/15/27 | 1,434,473 | ||
| 1,124,000 | Boston Properties LP REIT, 2.750%, 10/1/26 | 1,120,340 | ||
| 789,000 | Crown Castle, Inc. REIT, 1.050%, 7/15/26 | 787,999 | ||
| 1,030,000 | Crown Castle, Inc. REIT, 4.000%, 3/1/27 | 1,027,275 | ||
| 888,000 | DOC DR LLC REIT, 4.300%, 3/15/27 | 886,962 | ||
| 1,000,000 | Public Storage Operating Co. REIT, (SOFR + 0.700%), 4.333%, 4/16/27(A) | 1,002,174 | ||
| 1,000,000 | SBA Tower Trust REIT, 144a, 1.631%, 11/15/26 | 989,649 | ||
| 1,235,000 | VICI Properties LP / VICI Note Co., Inc. REIT, 144a, 4.250%, 12/1/26 | 1,232,633 | ||
| 700,000 | VICI Properties LP / VICI Note Co., Inc. REIT, 144a, 4.500%, 9/1/26 | 699,576 | ||
| 2,263,000 | WEA Finance LLC REIT (France), 144a, 2.875%, 1/15/27 | 2,241,280 | ||
| 11,422,361 | ||||
| Materials - 1.7% | ||||
| 1,220,000 | Bayport Polymers LLC, 144a, 4.743%, 4/14/27 | 1,218,413 | ||
| 500,000 | Chevron Phillips Chemical Co. LLC / Chevron Phillips Chemical Co. LP, 144a, 3.400%, 12/1/26 | 498,259 | ||
| 4,655,000 | Nucor Corp., 4.300%, 5/23/27 | 4,656,036 | ||
| 2,508,000 | Nutrien Ltd. (Canada), 4.000%, 12/15/26 | 2,504,987 | ||
| 1,100,000 | Yara International ASA (Brazil), 144a, 4.750%, 6/1/28 | 1,097,920 | ||
| 9,975,615 | ||||
| Energy - 1.6% | ||||
| 3,024,000 | Boardwalk Pipelines LP, 4.450%, 7/15/27 | 3,019,671 | ||
| 3,602,000 | Continental Resources, Inc., 144a, 2.268%, 11/15/26 | 3,569,152 | ||
|
Principal Amount |
Market Value |
|||
| Corporate Bonds - 21.5% (Continued) | ||||
| Energy - 1.6% (Continued) | ||||
| $ 1,330,000 | ONEOK, Inc., 4.000%, 7/13/27 | $ 1,323,345 | ||
| 1,230,000 | ONEOK, Inc., 5.550%, 11/1/26 | 1,233,985 | ||
| 9,146,153 | ||||
| Utilities - 1.4% | ||||
| 3,600,000 | DTE Energy Co., 4.950%, 7/1/27 | 3,618,149 | ||
| 1,368,000 | KeySpan Gas East Corp., 144a, 2.742%, 8/15/26 | 1,365,051 | ||
| 2,500,000 | Public Service Co. of New Hampshire, 4.400%, 7/1/28 | 2,499,285 | ||
| 500,000 | Vistra Operations Co. LLC, 144a, 5.050%, 12/30/26 | 500,333 | ||
| 7,982,818 | ||||
| Health Care - 1.1% | ||||
| 1,300,000 | Elevance Health, Inc., 4.500%, 10/30/26 | 1,301,663 | ||
| 753,000 | HCA, Inc., 4.500%, 2/15/27 | 752,683 | ||
| 3,400,000 | Medline Borrower LP, 144a, 3.875%, 4/1/29 | 3,302,229 | ||
| 765,000 | UnitedHealth Group, Inc., (SOFR + 0.500%), 4.134%, 7/15/26(A) | 765,076 | ||
| 6,121,651 | ||||
| Information Technology - 0.5% | ||||
| 3,000,000 | Autodesk, Inc., 3.500%, 6/15/27 | 2,969,893 | ||
| Consumer Staples - 0.1% | ||||
| 449,000 | Imperial Brands Finance PLC (United Kingdom), 144a, 3.500%, 7/26/26 | 448,642 | ||
| Total Corporate Bonds | $123,927,467 | |||
| Commercial Mortgage-Backed Securities - 18.9% | ||||
| 650,041 | 1166 Avenue of the Americas Commercial Mortgage Trust II, Ser 2005-C6A, Class A2, 144a, 5.690%, 10/13/37 | 654,475 | ||
| 4,500,000 | 245 Park Avenue Trust, Ser 2017-245P, Class A, 144a, 3.508%, 6/5/37 | 4,444,916 | ||
| 5,480,000 | BANK, Ser 2017-BNK5, Class AS, 3.624%, 6/15/60 | 5,383,556 | ||
| 6,800,000 | BANK, Ser 2017-BNK6, Class AS, 3.741%, 7/15/60(A)(B) | 6,687,935 | ||
| 7,055,189 | Bank of America Merrill Lynch Commercial Mortgage Trust, Ser 2017-BNK3, Class AS, 3.748%, 2/15/50 | 6,987,418 | ||
| 2,970,000 | Bank of America Merrill Lynch Commercial Mortgage Trust, Ser 2017-BNK3, Class B, 3.879%, 2/15/50(A)(B) | 2,930,956 | ||
| 5,000,000 | BPR Trust, Ser 2023-BRK2, Class B, 144a, 7.889%, 10/5/38(A)(B) | 5,131,629 | ||
| 270,190 | BX Commercial Mortgage Trust, Ser 2021-21M, Class A, 144a, (TSFR1M + 0.844%), 4.469%, 10/15/36(A) | 270,190 | ||
| 1,498,000 | BX Commercial Mortgage Trust, Ser 2021-21M, Class B, 144a, (TSFR1M + 1.092%), 4.717%, 10/15/36(A) | 1,498,000 | ||
| 1,327,900 | BX Commercial Mortgage Trust, Ser 2021-21M, Class C, 144a, (TSFR1M + 1.291%), 4.916%, 10/15/36(A) | 1,327,900 | ||
| 1,750,000 | BX Commercial Mortgage Trust, Ser 2021-21M, Class F, 144a, (TSFR1M + 2.733%), 6.358%, 10/15/36(A) | 1,748,906 | ||
| 2,996,000 | BX Commercial Mortgage Trust, Ser 2021-21M, Class G, 144a, (TSFR1M + 3.180%), 6.805%, 10/15/36(A) | 2,994,128 | ||
| 730,973 | BX Commercial Mortgage Trust, Ser 2021-ACNT, Class B, 144a, (TSFR1M + 1.364%), 4.989%, 11/15/38(A) | 730,973 | ||
| 3,740,000 | BX Trust, Ser 2022-LBA6, Class C, 144a, (TSFR1M + 1.600%), 5.225%, 1/15/39(A) | 3,738,831 | ||
| 1,100,000 | CFCRE Commercial Mortgage Trust, Ser 2016-C4, Class B, 4.147%, 5/10/58 | 1,093,367 | ||
22
Table of Contents
Touchstone Ultra Short Income ETF (Unaudited) (Continued)
|
Principal Amount |
Market Value |
|||
| Commercial Mortgage-Backed Securities - 18.9% (Continued) | ||||
| $ 2,500,000 | Citigroup Commercial Mortgage Trust, Ser 2017-C4, Class AS, 3.764%, 10/12/50 | $ 2,437,156 | ||
| 4,435,000 | FS Commercial Mortgage Trust, Ser 2023-4SZN, Class E, 144a, 10.764%, 11/10/39(A)(B) | 4,470,265 | ||
| 3,700,000 | GS Mortgage Securities Corp Trust, 2025-800D, 7.087%, 11/25/41 | 3,689,592 | ||
| 4,910,000 | GS Mortgage Securities Corp. Trust, Ser 2025-800D, Class A, 144a, (TSFR1M + 2.650%), 6.287%, 11/25/41(A) | 4,894,734 | ||
| 1,630,000 | GS Mortgage Securities Trust, Ser 2016-GS4, Class AS, 3.645%, 11/10/49(A)(B) | 1,621,745 | ||
| 5,750,000 | Hilton USA Trust, Ser 2016-HHV, Class B, 144a, 4.333%, 11/5/38(A)(B) | 5,738,196 | ||
| 5,515,500 | Hilton USA Trust, Ser 2016-HHV, Class C, 144a, 4.333%, 11/5/38(A)(B) | 5,500,838 | ||
| 1,866,000 | Hilton USA Trust, Ser 2016-HHV, Class D, 144a, 4.333%, 11/5/38(A)(B) | 1,859,160 | ||
| 1,825,000 | JP Morgan Chase Commercial Mortgage Securities Trust, Ser 2016-JP4, Class A4, 3.648%, 12/15/49(A)(B) | 1,815,229 | ||
| 1,000,000 | JP Morgan Chase Commercial Mortgage Securities Trust, Ser 2018-WPT, Class BFX, 144a, 4.549%, 7/5/33 | 815,000 | ||
| 1,715,675 | KIND Trust, Ser 2021-KIND, Class A, 144a, (TSFR1M + 1.064%), 4.690%, 8/15/38(A) | 1,712,963 | ||
| 4,691,473 | KIND Trust, Ser 2021-KIND, Class C, 144a, (TSFR1M + 1.864%), 5.490%, 8/15/38(A) | 4,667,466 | ||
| 971,548 | MF1 LLC, Ser 2022-FL9, Class A, 144a, (TSFR1M + 2.150%), 5.789%, 6/19/37(A) | 972,836 | ||
| 246,425 | Morgan Stanley Bank of America Merrill Lynch Trust, Ser 2016-C30, Class A5, 2.860%, 9/15/49 | 245,687 | ||
| 1,625,000 | Morgan Stanley Capital I Trust, Ser 2016-BNK2, Class A4, 3.049%, 11/15/49 | 1,603,157 | ||
| 4,810,000 | Morgan Stanley Capital I Trust, Ser 2017-H1, Class AS, 3.773%, 6/15/50 | 4,736,190 | ||
| 1,500,000 | Morgan Stanley Capital I Trust, Ser 2019-L3, Class C, 3.767%, 11/15/52(A)(B) | 1,288,178 | ||
| 3,114,930 | SMR Mortgage Trust, Ser 2022-IND, Class A, 144a, (TSFR1M + 1.650%), 5.275%, 2/15/39(A) | 3,114,928 | ||
| 3,900,000 | SREIT Trust, Ser 2021-MFP2, Class A, 144a, (TSFR1M + 0.936%), 4.561%, 11/15/36(A) | 3,898,814 | ||
| 3,864,000 | VEGAS Trust, Ser 2024-TI, Class A, 144a, 5.518%, 11/10/39 | 3,859,716 | ||
| 4,805,000 | Wells Fargo Commercial Mortgage Trust, Ser 2016-C35, Class B, 3.438%, 7/15/48 | 4,792,267 | ||
| Total Commercial Mortgage-Backed Securities | $109,357,297 | |||
| Non-Agency Collateralized Mortgage Obligations - 8.2% | ||||
| 4,388,466 | Arroyo Mortgage Trust, Ser 2022-1, Class A1A, 144a, 3.495%, 12/25/56(A)(B) | 4,260,592 | ||
| 1,494,153 | BRAVO Residential Funding Trust, Ser 2023-NQM1, Class A1, 144a, 5.757%, 1/25/63(A)(B) | 1,490,723 | ||
| 2,059,336 | BRAVO Residential Funding Trust, Ser 2024-NQM5, Class A1, 144a, 5.803%, 6/25/64(A)(B) | 2,067,672 | ||
| 516,280 | Cascade Funding Mortgage Trust, Ser 2025-HB16, Class A, 144a, 3.000%, 3/25/35(A)(B) | 510,973 | ||
| 2,505,713 | Chase Home Lending Mortgage Trust Series, Ser 2024-1, Class A6A, 144a, 6.000%, 1/25/55(A)(B) | 2,505,606 | ||
| 1,335,784 | CIM Trust, Ser 2019-R5, Class A1, 144a, 2.680%, 9/25/59(A)(B) | 1,318,099 | ||
| 2,201,634 | Finance of America HECM Buyout, Ser 2025-HB1, Class A, 144a, 4.500%, 11/25/35(A)(B) | 2,177,001 | ||
| 4,810,599 | GCAT Trust, Ser 2024-INV3, Class A6, 144a, 5.500%, 9/25/54(A)(B) | 4,799,587 | ||
|
Principal Amount |
Market Value |
|||
|
Non-Agency Collateralized Mortgage Obligations - 8.2% (Continued) |
||||
| $ 2,390,362 | GCAT Trust, Ser 2024-NQM1, Class A1, 144a, 6.007%, 1/25/59(A)(B) | $ 2,393,767 | ||
| 231,122 | Metlife Securitization Trust, Ser 2019-1A, Class A1A, 144a, 3.750%, 4/25/58(A)(B) | 228,544 | ||
| 145,939 | Mill City Mortgage Loan Trust, Ser 2017-1, Class M2, 144a, 3.250%, 11/25/58(A)(B) | 145,022 | ||
| 91,703 | Mill City Mortgage Loan Trust, Ser 2017-2, Class M1, 144a, 3.250%, 7/25/59(A)(B) | 91,427 | ||
| 500,945 | Mill City Mortgage Loan Trust, Ser 2017-3, Class M1, 144a, 3.250%, 1/25/61(A)(B) | 496,908 | ||
| 1,784,991 | Mill City Mortgage Loan Trust, Ser 2018-2, Class M1, 144a, 3.750%, 5/25/58(A)(B) | 1,757,869 | ||
| 1,464,625 | Mill City Mortgage Loan Trust, Ser 2018-3, Class A1, 144a, 3.500%, 8/25/58(A)(B) | 1,450,550 | ||
| 267,812 | Mill City Mortgage Trust, Ser 2015-1, Class M3, 144a, 3.749%, 6/25/56(A)(B) | 265,963 | ||
| 964,276 | New Residential Mortgage Loan Trust, Ser 2024-NQM1, Class A1, 144a, 6.129%, 3/25/64(A)(B) | 966,951 | ||
| 1,180,715 | OBX Trust, Ser 2024-NQM12, Class A1, 144a, 5.475%, 7/25/64(A)(B) | 1,181,365 | ||
| 1,071,925 | OBX Trust, Ser 2024-NQM2, Class A1, 144a, 5.878%, 12/25/63(A)(B) | 1,072,813 | ||
| 1,040,788 | OBX Trust, Ser 2024-NQM3, Class A1, 144a, 6.129%, 12/25/63(A)(B) | 1,043,526 | ||
| 1,140,532 | OBX Trust, Ser 2024-NQM4, Class A1, 144a, 6.067%, 1/25/64(A)(B) | 1,144,980 | ||
| 475,138 | PRPM LLC, Ser 2024-RCF4, Class A1, 144a, 4.000%, 7/25/54(A)(B) | 467,142 | ||
| 1,072,536 | PRPM LLC, Ser 2024-RCF5, Class A1, 144a, 4.000%, 8/25/54(A)(B) | 1,053,979 | ||
| 1,492,209 | PRPM Trust, Ser 2023-NQM1, Class A1, 144a, 6.234%, 1/25/68(A)(B) | 1,487,017 | ||
| 12,440 | Sequoia Mortgage Trust, Ser 2023-5, Class A10, 144a, 5.424%, 12/25/53(A)(B) | 12,397 | ||
| 2,841,866 | Sequoia Mortgage Trust, Ser 2024-INV1, Class A6, 144a, 5.500%, 10/25/54(A)(B) | 2,839,068 | ||
| 142,081 | Towd Point Mortgage Trust, Ser 2015-2, Class 1B1, 144a, 3.625%, 11/25/60(A)(B) | 141,176 | ||
| 171,944 | Towd Point Mortgage Trust, Ser 2016-1, Class M2, 144a, 3.500%, 2/25/55(A)(B) | 171,093 | ||
| 271,960 | Towd Point Mortgage Trust, Ser 2016-3, Class M2, 144a, 4.000%, 4/25/56(A)(B) | 271,039 | ||
| 1,555,190 | Towd Point Mortgage Trust, Ser 2017-2, Class M1, 144a, 3.750%, 4/25/57(A)(B) | 1,538,664 | ||
| 2,509,449 | Verus Securitization Trust, Ser 2024-1, Class A1, 144a, 5.712%, 1/25/69(A)(B) | 2,509,656 | ||
| 2,105,062 | Verus Securitization Trust, Ser 2024-7, Class A1, 144a, 5.095%, 9/25/69(A)(B) | 2,098,347 | ||
| 3,395,812 | Verus Securitization Trust, Ser 2024-INV2, Class A1, 144a, 5.332%, 8/26/69(A)(B) | 3,393,965 | ||
| Total Non-Agency Collateralized Mortgage Obligations | $47,353,481 | |||
| Commercial Paper - 6.4% | ||||
| 17,000,000 | Alexandria Real Estate Equities, Inc., 144a, 4.186%, 7/6/26(C) | 16,989,038 | ||
| 20,000,000 | Sumitomo Corporation of Americas, 3.872%, 7/2/26(C) | 19,995,684 | ||
| Total Commercial Paper | $36,984,722 | |||
| U.S. Treasury Obligations - 0.8% | ||||
| 4,450,000 | U.S. Treasury Note, 3.375%, 2/29/28 | 4,395,418 | ||
23
Table of Contents
Touchstone Ultra Short Income ETF (Unaudited) (Continued)
| Shares | MarketValue | |||
| Short-Term Investment Fund - 4.4% | ||||
| 25,563,065 | Dreyfus Government Cash Management, Institutional Shares, 3.54%∞Ω | $ 25,563,065 | ||
|
Total Investment Securities-100.4% (Cost $580,799,953) |
$579,562,643 | |||
| Liabilities in Excess of Other Assets - (0.4%) | (2,147,991) | |||
| Net Assets - 100.0% | $577,414,652 | |||
| (A) | Variable rate security - Rate reflected is the rate in effect as of June 30, 2026. |
| (B) | Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
| (C) | Rate reflects yield at the time of purchase. |
| ∞ | Open-End Fund. |
| Ω | Represents the 7-Day SEC yield as of June 30, 2026. |
| Portfolio Abbreviations: |
| CLO - Collateralized Loan Obligation |
| LLC - Limited Liability Company |
| LP - Limited Partnership |
| MTN - Medium Term Note |
| PLC - Public Limited Company |
| REIT - Real Estate Investment Trust |
| SOFR - Secured Overnight Financing Rate |
| TSFR1M - One Month Term Secured Overnight Financing Rate |
| TSFR3M - Three Month Term Secured Overnight Financing Rate |
| 144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2026, these securities were valued at $386,347,992 or 66.9% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees. |
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Financial Statements.
| Valuation Inputs at Reporting Date: | ||||
| Description | Level 1 | Level 2 | Level 3 | Total |
| Asset-Backed Securities | $- | $231,981,193 | $- | $231,981,193 |
| Corporate Bonds | - | 123,927,467 | - | 123,927,467 |
| Commercial Mortgage-Backed Securities | - | 109,357,297 | - | 109,357,297 |
| Non-Agency Collateralized Mortgage Obligations | - | 47,353,481 | - | 47,353,481 |
| Commercial Paper | - | 36,984,722 | - | 36,984,722 |
| U.S. Treasury Obligations | - | 4,395,418 | - | 4,395,418 |
| Short-Term Investment Fund | 25,563,065 | - | - | 25,563,065 |
| Total | $25,563,065 | $553,999,578 | $- | $579,562,643 |
See accompanying Notes to Financial Statements.
24
Table of Contents
Portfolio of Investments
Touchstone US Large Cap Focused ETF - June 30, 2026 (Unaudited)
| Shares |
Market Value |
|||
| Common Stocks - 97.5% | ||||
| Information Technology - 33.8% | ||||
| 16,956 | Apple, Inc. | $ 4,906,388 | ||
| 3,472 | Applied Materials, Inc. | 2,510,256 | ||
| 4,192 | Broadcom, Inc. | 1,583,528 | ||
| 12,363 | Microsoft Corp. | 4,611,646 | ||
| 23,895 | NVIDIA Corp. | 4,781,151 | ||
| 8,170 | Oracle Corp. | 1,197,314 | ||
| 4,264 | Salesforce, Inc. | 667,998 | ||
| 3,812 | Texas Instruments, Inc. | 1,136,243 | ||
| 3,615 | Workday, Inc. - Class A* | 442,548 | ||
| 21,837,072 | ||||
| Communication Services - 16.7% | ||||
| 17,351 | Alphabet, Inc. - Class C | 6,130,629 | ||
| 15,529 | Comcast Corp. - Class A | 381,237 | ||
| 5,952 | Meta Platforms, Inc. - Class A | 3,352,702 | ||
| 4,387 | Netflix, Inc.* | 313,231 | ||
| 6,784 | Walt Disney Co. (The) | 652,960 | ||
| 10,830,759 | ||||
| Financials - 13.4% | ||||
| 37,117 | Bank of America Corp. | 2,114,927 | ||
| 2,200 | Berkshire Hathaway, Inc. - Class B* | 1,100,858 | ||
| 4,257 | Blackstone, Inc. | 500,921 | ||
| 13,442 | Charles Schwab Corp. (The) | 1,240,293 | ||
| 377 | Goldman Sachs Group, Inc. (The) | 381,287 | ||
| 2,965 | LPL Financial Holdings, Inc. | 835,181 | ||
| 538 | Markel Group, Inc.* | 1,050,719 | ||
| 4,150 | Visa, Inc. - Class A | 1,423,824 | ||
| 8,648,010 | ||||
| Health Care - 10.0% | ||||
| 6,475 | Becton Dickinson & Co. | 979,862 | ||
| 6,594 | BioMarin Pharmaceutical, Inc.* | 377,309 | ||
| 11,542 | Bristol-Myers Squibb Co. | 665,050 | ||
| 1,831 | Cencora, Inc. | 518,136 | ||
| 1,725 | HCA Healthcare, Inc. | 672,560 | ||
| 4,850 | Johnson & Johnson | 1,231,755 | ||
| 13,462 | Medtronic PLC | 1,053,132 | ||
| 2,281 | UnitedHealth Group, Inc. | 948,052 | ||
| 6,445,856 | ||||
| Consumer Discretionary - 8.0% | ||||
| 7,749 | Airbnb, Inc. - Class A* | 1,108,882 | ||
| 15,601 | Amazon.com, Inc.* | 3,718,342 | ||
| 8,145 | Las Vegas Sands Corp. | 376,218 | ||
| 5,203,442 | ||||
| Industrials - 7.3% | ||||
| 5,443 | Boeing Co. (The)* | 1,178,246 | ||
| 1,510 | Deere & Co. | 957,838 | ||
| 1,186 | Hubbell, Inc. | 620,515 | ||
| 35,044 | QXO, Inc.*† | 605,560 | ||
| Shares |
Market Value |
|||
| Common Stocks - 97.5% (Continued) | ||||
| Industrials - 7.3% (Continued) | ||||
| 6,672 | SS&C Technologies Holdings, Inc. | $ 413,998 | ||
| 4,807 | Stanley Black & Decker, Inc. | 452,435 | ||
| 6,366 | Uber Technologies, Inc.* | 459,371 | ||
| 4,687,963 | ||||
| Consumer Staples - 4.2% | ||||
| 11,745 | Monster Beverage Corp.* | 1,128,929 | ||
| 8,816 | Philip Morris International, Inc. | 1,594,903 | ||
| 2,723,832 | ||||
| Energy - 2.2% | ||||
| 10,458 | Exxon Mobil Corp. | 1,429,818 | ||
| Real Estate - 1.3% | ||||
| 2,805 | Jones Lang LaSalle, Inc.* | 869,410 | ||
| Materials - 0.6% | ||||
| 5,051 | International Flavors & Fragrances, Inc. | 400,140 | ||
| Total Common Stocks | $63,076,302 | |||
| Short-Term Investment Fund - 3.6% | ||||
| 2,307,971 | Dreyfus Government Cash Management, Institutional Shares, 3.54%∞Ω** | 2,307,970 | ||
|
Total Investment Securities-101.1% (Cost $54,878,186) |
$65,384,272 | |||
| Liabilities in Excess of Other Assets - (1.1%) | (706,341) | |||
| Net Assets - 100.0% | $64,677,931 | |||
| * | Non-income producing security. |
| ** | All or a portion of the security represents collateral for securities loaned. |
| † | All or a portion of the security is on loan. The total market value of the securities on loan as of June 30, 2026 was $593,447. |
| ∞ | Open-End Fund. |
| Ω | Represents the 7-Day SEC yield as of June 30, 2026. |
| Portfolio Abbreviations: |
| PLC - Public Limited Company |
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Financial Statements.
| Valuation Inputs at Reporting Date: | ||||
| Description | Level 1 | Level 2 | Level 3 | Total |
| Common Stocks | $63,076,302 | $- | $- | $63,076,302 |
| Short-Term Investment Fund | 2,307,970 | - | - | 2,307,970 |
| Total | $65,384,272 | $- | $- | $65,384,272 |
See accompanying Notes to Financial Statements.
25
Table of Contents
Statements of Assets and Liabilities
June 30, 2026 (Unaudited)
|
Touchstone Dividend Select ETF |
Touchstone Dynamic International ETF |
Touchstone International Equity ETF |
Touchstone Sands Capital Emerging Markets ex-China Growth ETF |
Touchstone Sands Capital US Select Growth ETF | |
| Assets | |||||
| Investments, at cost | $45,052,120 | $348,836,987 | $108,068,869 | $10,142,571 | $76,104,699 |
| Investments, at market value * | $52,761,419 | $361,775,316 | $110,717,570 | $13,402,663 | $83,572,524 |
| Cash | - | - | - | - | - |
| Cash deposits held at prime broker (A) | - | - | - | - | - |
| Foreign currency † | - | 60,351 | 3 | 174,810 | - |
| Dividends and interest receivable | 57,278 | 719,068 | 105,914 | 23,655 | 14,651 |
| Receivable for capital shares sold | - | 227 | - | - | - |
| Receivable for investments sold | - | - | - | 267,307 | - |
| Receivable for securities lending income | - | 4,684 | 297 | - | - |
| Receivable from Investment Adviser | - | - | - | 8,238 | - |
| Tax reclaim receivable | - | 158,899 | 141,350 | - | - |
| Other assets | 3,313 | 81 | 13,462 | - | 13,591 |
| Total Assets | 52,822,010 | 362,718,626 | 110,978,596 | 13,876,673 | 83,600,766 |
| Liabilities | |||||
| Payable for return of collateral for securities on loan | - | 1,884,716 | - | - | - |
| Deferred foreign capital gains tax | - | - | - | 44,686 | - |
| Payable for investments purchased | - | - | - | 325,522 | - |
| Payable to Investment Adviser | 2,180 | 128,603 | 7,496 | - | 28,354 |
| Payable to other affiliates | 6,619 | 38,579 | 12,606 | 2,360 | 11,312 |
| Payable to Trustees | 24,138 | 24,138 | 24,146 | 24,144 | 24,136 |
| Payable for professional services | 15,476 | 15,747 | 16,292 | 13,155 | 17,101 |
| Payable for reports to shareholders | 3,885 | - | - | 3,517 | - |
| Payable for transfer agent services | 58,995 | 80,094 | 27,829 | 32,190 | 33,885 |
| Payable for variation margin on futures contracts | - | - | - | - | - |
| Other accrued expenses and liabilities | 1,524 | 23,442 | 94 | 2,419 | 5,403 |
| Total Liabilities | 112,817 | 2,195,319 | 88,463 | 447,993 | 120,191 |
| Net Assets | $52,709,193 | $360,523,307 | $110,890,133 | $13,428,680 | $83,480,575 |
| Net assets consist of: | |||||
| Paid-in capital | 45,470,503 | 334,828,268 | 106,879,525 | 9,361,027 | 73,081,347 |
| Distributable earnings (deficit) | 7,238,690 | 25,695,039 | 4,010,608 | 4,067,653 | 10,399,228 |
| Net Assets | $52,709,193 | $360,523,307 | $110,890,133 | $13,428,680 | $83,480,575 |
| Pricing of shares outstanding | |||||
| Net assets applicable to shares outstanding | $52,709,193 | $360,523,307 | $110,890,133 | $13,428,680 | $83,480,575 |
| Shares of beneficial interest outstanding (unlimited number of shares authorized, no par value) | 1,375,000 | 8,097,998 | 4,125,000 | 350,000 | 2,825,000 |
| Net asset value, offering price and redemption price per share | $38.33 | $44.52 | $26.88 | $38.37 | $29.55 |
| *Includes market value of securities on loan of: | $- | $1,778,729 | $- | $- | $- |
| †Cost of foreign currency: | $- | $60,421 | $3 | $175,038 | $- |
| (A) | Represents segregated cash for futures contracts. |
See accompanying Notes to Financial Statements.
26
Table of Contents
Statements of Assets and Liabilities (Unaudited) (Continued)
| Touchstone Securitized Income ETF |
Touchstone Strategic Income ETF |
Touchstone Ultra Short Income ETF |
Touchstone US Large Cap Focused ETF |
| $163,805,139 | $268,586,032 | $580,799,953 | $54,878,186 |
| $162,995,977 | $270,071,397 | $579,562,643 | $65,384,272 |
| - | 984,891 | 86,152 | - |
| - | 486,746 | - | - |
| - | - | - | - |
| 992,108 | 2,980,133 | 2,793,042 | 38,726 |
| - | - | 3,790,795 | - |
| - | 6,600,421 | - | - |
| - | 1,449 | - | - |
| - | - | - | - |
| - | - | - | - |
| 16 | 139 | 26,981 | 1,821 |
| 163,988,101 | 281,125,176 | 586,259,613 | 65,424,819 |
| - | 2,374,111 | - | 626,760 |
| - | - | - | - |
| 4,587,217 | 11,120,694 | 8,641,190 | - |
| 15,357 | 58,122 | 34,754 | 9,190 |
| 17,585 | 29,048 | 59,331 | 7,910 |
| 24,138 | 24,138 | 24,138 | 24,138 |
| 21,899 | 21,423 | 24,116 | 15,717 |
| 2,687 | 2,097 | - | 3,642 |
| 58,995 | 58,995 | 58,995 | 58,995 |
| - | 72,000 | - | - |
| 1,974 | 2,888 | 2,437 | 536 |
| 4,729,852 | 13,763,516 | 8,844,961 | 746,888 |
| $159,258,249 | $267,361,660 | $577,414,652 | $64,677,931 |
| 159,894,938 | 266,593,299 | 578,421,037 | 53,225,825 |
| (636,689) | 768,361 | (1,006,385) | 11,452,106 |
| $159,258,249 | $267,361,660 | $577,414,652 | $64,677,931 |
| $159,258,249 | $267,361,660 | $577,414,652 | $64,677,931 |
| 6,200,000 | 10,425,000 | 22,854,000 | 1,500,000 |
| $25.69 | $25.65 | $25.27 | $43.12 |
| $- | $2,265,867 | $- | $593,447 |
| $- | $- | $- | $- |
27
Table of Contents
Statements of Operations For the Six Months Ended June 30, 2026 (Unaudited)
|
Touchstone Dividend Select ETF |
Touchstone Dynamic International ETF |
Touchstone International Equity ETF |
Touchstone Sands Capital Emerging Markets ex-China Growth ETF |
Touchstone Sands Capital US Select Growth ETF | |
| Investment Income | |||||
| Dividends* | $525,123 | $3,675,501 | $1,501,267 | $67,593 | $215,500 |
| Interest** | - | - | - | - | - |
| Income from securities loaned | - | 10,313 | 2,973 | 2 | 33 |
| Total Investment Income | 525,123 | 3,685,814 | 1,504,240 | 67,595 | 215,533 |
| Expenses | |||||
| Investment advisory fees | 119,009 | 532,992 | 326,226 | 40,474 | 365,141 |
| Administration fees | 28,451 | 127,340 | 68,651 | 7,192 | 73,902 |
| Compliance fees and expenses | 1,947 | 1,946 | 1,947 | 1,948 | 1,947 |
| Custody fees | 626 | 9,125 | 2,322 | 2,703 | 2,141 |
| Professional fees | 15,461 | 26,593 | 20,117 | 21,550 | 16,950 |
| Transfer Agent fees | 27,109 | 36,541 | 20,683 | 24,790 | 27,042 |
| Registration fees | - | - | - | - | - |
| Reports to Shareholders | 4,994 | 7,279 | 5,167 | 4,656 | 6,266 |
| Trustee fees | 16,343 | 16,343 | 16,343 | 16,343 | 16,343 |
| Other expenses | 14,198 | 16,330 | 13,714 | 15,498 | 11,819 |
| Total Expenses | 228,138 | 774,489 | 475,170 | 135,154 | 521,551 |
| Fees waived and/or reimbursed by the Adviser and/or Affiliates(A) | (122,113) | (145,503) | (282,046) | (91,945) | (145,177) |
| Net Expenses | 106,025 | 628,986 | 193,124 | 43,209 | 376,374 |
| Net Investment Income (Loss) | 419,098 | 3,056,828 | 1,311,116 | 24,386 | (160,841) |
| Realized and Unrealized Gains (Losses) on Investments | |||||
| Net realized gains on investments(B)(C) | 896,863 | 15,159,931 | 433,879 | 869,296 | 8,381,493 |
| Net realized losses on futures contracts | - | - | - | - | - |
| Net realized losses on foreign currency transactions | - | (150,765) | (29,063) | (7,426) | - |
| Net change in unrealized appreciation (depreciation) on investments† | 2,820,557 | (1,784,066) | 1,579,465 | 2,107,101 | (2,787,655) |
| Net change in unrealized appreciation (depreciation) on futures contracts | - | - | - | - | - |
| Net change in unrealized appreciation (depreciation) on foreign currency transactions | - | (5,170) | (4,091) | (55) | - |
| Net Realized and Unrealized Gains (Losses) on Investments | 3,717,420 | 13,219,930 | 1,980,190 | 2,968,916 | 5,593,838 |
| Change in Net Assets Resulting from Operations | $4,136,518 | $16,276,758 | $3,291,306 | $2,993,302 | $5,432,997 |
| *Net of foreign tax withholding of: | $- | $513,017 | $166,015 | $11,215 | $- |
| **Net of foreign tax withholding of: | $- | $- | $- | $- | $- |
| †Includes decrease in deferred foreign capital gain tax of: | $- | $- | $- | $27,142 | $- |
| (A) | See Note 4 in Notes to Financial Statements. |
| (B) | Includes foreign capital gains taxes paid of $55 for the Sands Capital Emerging Markets ex-China Growth ETF. |
| (C) | Net realized gains on investments includes realized gains of $1,046,000, $17,391,713, $1,351,359, $383,811, $11,959,441 and $1,884,015 for the Dividend Select ETF, Dynamic International ETF, International Equity ETF, Sands Capital Emerging Markets ex-China Growth ETF, Sands Capital US Select Growth ETF and the US Large Cap Focused ETF, respectively, for redemptions-in-kind activity, which will not be recognized by the Funds for tax purposes. |
See accompanying Notes to Financial Statements.
28
Table of Contents
Statements of Operations (Unaudited) (Continued)
| Touchstone Securitized Income ETF |
Touchstone Strategic Income ETF |
Touchstone Ultra Short Income ETF |
Touchstone US Large Cap Focused ETF |
| $174,054 | $127,550 | $196,894 | $307,777 |
| 4,603,573 | 6,757,848 | 9,743,325 | - |
| 210 | 6,990 | - | 22 |
| 4,777,837 | 6,892,388 | 9,940,219 | 307,799 |
| 233,404 | 669,163 | 371,559 | 200,920 |
| 90,289 | 160,190 | 271,967 | 37,744 |
| 1,947 | 1,947 | 1,947 | 1,947 |
| 15,759 | 17,279 | 3,407 | 561 |
| 22,254 | 25,490 | 28,372 | 15,766 |
| 27,109 | 27,108 | 27,108 | 27,109 |
| 58 | 43 | 26 | 1 |
| 5,292 | 6,286 | 8,634 | 5,227 |
| 16,343 | 16,343 | 16,343 | 16,343 |
| 16,327 | 18,394 | 16,277 | 12,320 |
| 428,782 | 942,243 | 745,640 | 317,938 |
| (161,057) | (345,481) | (228,606) | (160,073) |
| 267,725 | 596,762 | 517,034 | 157,865 |
| 4,510,112 | 6,295,626 | 9,423,185 | 149,934 |
| 449,095 | 720,600 | 19,432 | 1,596,264 |
| - | (852,269) | - | - |
| - | - | - | - |
| (2,456,213) | (2,282,686) | (1,692,280) | (737,158) |
| - | (35,318) | - | - |
| - | - | - | - |
| (2,007,118) | (2,449,673) | (1,672,848) | 859,106 |
| $2,502,994 | $3,845,953 | $7,750,337 | $1,009,040 |
| $- | $- | $- | $- |
| $- | $917 | $- | $- |
| $- | $- | $- | $- |
29
Table of Contents
Statements of Changes in Net Assets
|
Touchstone Dividend Select ETF |
Touchstone Dynamic International ETF |
Touchstone International Equity ETF |
||||
|
For the Six Months Ended June 30, 2026 (Unaudited) |
For the Year Ended December 31, 2025 |
For the Six Months Ended June 30, 2026 (Unaudited) |
For the Year Ended December 31, 2025 |
For the Six Months Ended June 30, 2026 (Unaudited) |
For the Period Ended December 31, 2025(A) |
|
| From Operations | ||||||
| Net investment income (loss) | $419,098 | $754,189 | $3,056,828 | $1,302,261 | $1,311,116 | $633,380 |
| Net realized gains (losses) on investments and foreign currency transactions | 896,863 | 2,002,365 | 15,009,166 | 7,487,349 | 404,816 | 871,411 |
| Net change in unrealized appreciation (depreciation) on investments and foreign currency transactions | 2,820,557 | 2,599,613 | (1,789,236) | 12,357,334 | 1,575,374 | 1,070,114 |
| Change in Net Assets from Operations | 4,136,518 | 5,356,167 | 16,276,758 | 21,146,944 | 3,291,306 | 2,574,905 |
| Distributions to Shareholders: | ||||||
| Distributed earnings | (408,947) | (742,563) | - | (1,450,174) | - | (617,148) |
| Total Distributions | (408,947) | (742,563) | - | (1,450,174) | - | (617,148) |
| Share Transactions | ||||||
| Proceeds from Shares issued | 14,837,364 | 5,869,365 | 339,029,743 | 40,359,712 | 9,948,482 | 110,222,141 |
| Cost of Shares redeemed | (3,631,228) | (6,636,415) | (69,640,801) | (34,628,305) | (5,399,579) | (9,129,974) |
| Change in Net Assets from Share Transactions | 11,206,136 | (767,050) | 269,388,942 | 5,731,407 | 4,548,903 | 101,092,167 |
| Total Increase (Decrease) in Net Assets | 14,933,707 | 3,846,554 | 285,665,700 | 25,428,177 | 7,840,209 | 103,049,924 |
| Net Assets | ||||||
| Beginning of period | 37,775,486 | 33,928,932 | 74,857,607 | 49,429,430 | 103,049,924 | - |
| End of period | $52,709,193 | $37,775,486 | $360,523,307 | $74,857,607 | $110,890,133 | $103,049,924 |
| Share Transactions | ||||||
| Shares issued | 400,000 | 175,000 | 7,750,000 | 1,150,000 | 400,000 | 4,300,000 |
| Shares redeemed | (100,000) | (200,000) | (1,586,857) | (1,000,000) | (225,000) | (350,000) |
| Change in Shares Outstanding | 300,000 | (25,000) | 6,163,143 | 150,000 | 175,000 | 3,950,000 |
| (A) | Represents the period from commencement of operations (March 3, 2025) through December 31, 2025. |
| (B) | Represents the period from commencement of operations (February 24, 2025) through December 31, 2025. |
| (C) | Represents the period from commencement of operations (January 2, 2025) through December 31, 2025. |
See accompanying Notes to Financial Statements.
30
Table of Contents
Statements of Changes in Net Assets (Continued)
|
Touchstone Sands Capital Emerging Markets ex-China Growth ETF |
Touchstone Sands Capital US Select Growth ETF |
Touchstone Securitized Income ETF |
|||
|
For the Six Months Ended June 30, 2026 (Unaudited) |
For the Period Ended December 31, 2025(B) |
For the Six Months Ended June 30, 2026 (Unaudited) |
For the Period Ended December 31, 2025(C) |
For the Six Months Ended June 30, 2026 (Unaudited) |
For the Year Ended December 31, 2025 |
| $24,386 | $31,237 | $(160,841) | $(214,600) | $4,510,112 | $7,139,387 |
| 861,870 | 449,906 | 8,381,493 | (2,636,396) | 449,095 | 202,216 |
| 2,107,046 | 1,108,299 | (2,787,655) | 10,255,480 | (2,456,213) | 863,655 |
| 2,993,302 | 1,589,442 | 5,432,997 | 7,404,484 | 2,502,994 | 8,205,258 |
| - | (96,555) | - | - | (4,786,735) | (7,379,021) |
| - | (96,555) | - | - | (4,786,735) | (7,379,021) |
| 5,585,578 | 11,624,118 | 22,859,383 | 113,410,794 | 38,836,326 | 14,389,504 |
| (4,041,560) | (4,225,645) | (53,901,317) | (11,725,766) | - | (1,317,025) |
| 1,544,018 | 7,398,473 | (31,041,934) | 101,685,028 | 38,836,326 | 13,072,479 |
| 4,537,320 | 8,891,360 | (25,608,937) | 109,089,512 | 36,552,585 | 13,898,716 |
| 8,891,360 | - | 109,089,512 | - | 122,705,664 | 108,806,948 |
| $13,428,680 | $8,891,360 | $83,480,575 | $109,089,512 | $159,258,249 | $122,705,664 |
| 175,000 | 450,000 | 850,000 | 4,300,000 | 1,500,000 | 550,000 |
| (125,000) | (150,000) | (1,875,000) | (450,000) | - | (50,000) |
| 50,000 | 300,000 | (1,025,000) | 3,850,000 | 1,500,000 | 500,000 |
31
Table of Contents
Statements of Changes in Net Assets (Continued)
|
Touchstone Strategic Income ETF |
Touchstone Ultra Short Income ETF |
Touchstone US Large Cap Focused ETF |
||||
|
For the Six Months Ended June 30, 2026 (Unaudited) |
For the Year Ended December 31, 2025 |
For the Six Months Ended June 30, 2026 (Unaudited) |
For the Year Ended December 31, 2025 |
For the Six Months Ended June 30, 2026 (Unaudited) |
For the Year Ended December 31, 2025 |
|
| From Operations | ||||||
| Net investment income | $6,295,626 | $10,538,601 | $9,423,185 | $9,171,425 | $149,934 | $300,434 |
| Net realized gains (losses) on investments, futures contracts and swap agreements | (131,669) | 3,784,653 | 19,432 | 47,773 | 1,596,264 | 1,152,294 |
| Net change in unrealized appreciation (depreciation) on investments and futures contracts | (2,318,004) | 3,553,892 | (1,692,280) | (120,605) | (737,158) | 6,183,129 |
| Change in Net Assets from Operations | 3,845,953 | 17,877,146 | 7,750,337 | 9,098,593 | 1,009,040 | 7,635,857 |
| Distributions to Shareholders: | ||||||
| Distributed earnings | (6,104,905) | (14,287,615) | (9,213,947) | (9,265,003) | - | (300,183) |
| Total Distributions | (6,104,905) | (14,287,615) | (9,213,947) | (9,265,003) | - | (300,183) |
| Share Transactions | ||||||
| Proceeds from Shares issued | 40,691,476 | 50,671,156 | 286,400,693 | 219,264,430 | 13,044,654 | 12,224,016 |
| Cost of Shares redeemed | - | - | (5,068,839) | (21,512,245) | (4,272,276) | (4,579,975) |
| Change in Net Assets from Share Transactions | 40,691,476 | 50,671,156 | 281,331,854 | 197,752,185 | 8,772,378 | 7,644,041 |
| Total Increase (Decrease) in Net Assets | 38,432,524 | 54,260,687 | 279,868,244 | 197,585,775 | 9,781,418 | 14,979,715 |
| Net Assets | ||||||
| Beginning of period | 228,929,136 | 174,668,449 | 297,546,408 | 99,960,633 | 54,896,513 | 39,916,798 |
| End of period | $267,361,660 | $228,929,136 | $577,414,652 | $297,546,408 | $64,677,931 | $54,896,513 |
| Share Transactions | ||||||
| Shares issued | 1,575,000 | 1,950,000 | 11,300,000 | 8,650,000 | 300,000 | 325,000 |
| Shares redeemed | - | - | (200,000) | (850,000) | (100,000) | (125,000) |
| Change in Shares Outstanding | 1,575,000 | 1,950,000 | 11,100,000 | 7,800,000 | 200,000 | 200,000 |
See accompanying Notes to Financial Statements.
32
Table of Contents
Financial Highlights
| Touchstone Dividend Select ETF | ||||||||||||||||||||||||||
| Period ended |
Net asset value at beginning of period |
Net investment income |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Distributions from net investment income |
Total distributions |
Net asset value at end of period |
Total return based on NAV |
Net assets at end of period (000's) |
Ratio of net expenses to average net assets |
Ratio of gross expenses to average net assets |
Ratio of net investment income (loss) to average net assets |
Portfolio turnover rate |
|||||||||||||
| 12/31/22(1) | $25.00 | $0.18 | $0.31 | $0.49 | $(0.18) | $(0.18) | $25.31 | 1.94%(2) | $26,570 | 0.67%(3) | 1.41%(3) | 2.11%(3) | 28%(2)(4) | |||||||||||||
| 12/31/23 | 25.31 | 0.58 | 2.91 | 3.49 | (0.58) | (0.58) | 28.22 | 14.01 | 31,040 | 0.67 | 1.21 | 2.22 | 16(4) | |||||||||||||
| 12/31/24 | 28.22 | 0.64 | 2.62 | 3.26 | (0.64) | (0.64) | 30.84 | 11.59 | 33,929 | 0.64 | 1.16 | 2.11 | 13(4) | |||||||||||||
| 12/31/25 | 30.84 | 0.69 | 4.29 | 4.98 | (0.68) | (0.68) | 35.14 | 16.27 | 37,775 | 0.49 | 1.14 | 2.09 | 17(4) | |||||||||||||
| 06/30/26(5) | 35.14 | 0.35 | 3.17 | 3.52 | (0.33) | (0.33) | 38.33 | 10.09(2) | 52,709 | 0.49(3) | 1.05(3) | 1.94(3) | 7(2)(4) | |||||||||||||
| (1) | Represents the period from commencement of operations (August 2, 2022) through December 31, 2022. |
| (2) | Not annualized. |
| (3) | Annualized. |
| (4) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind and received from processing subscriptions-in-kind. |
| (5) | Unaudited. |
| Touchstone Dynamic International ETF | ||||||||||||||||||||||||||||
| Period ended |
Net asset value at beginning of period |
Net investment income |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Distributions from net investment income |
Distributions from realized capital gains |
Total distributions |
Net asset value at end of period |
Total return based on NAV |
Net assets at end of period (000's) |
Ratio of net expenses to average net assets |
Ratio of gross expenses to average net assets |
Ratio of net investment income (loss) to average net assets |
Portfolio turnover rate |
||||||||||||||
| 12/31/21(1) | $29.55 | $0.46 | $1.14 | $1.60 | $(0.82) | $ (0.93) | $(1.75) | $29.40 | 5.39% | $5,061 | 0.24% | 0.87% | 1.51% | 20% | ||||||||||||||
| 12/31/22(1) | 29.40 | 0.44 | (5.23) | (4.79) | (0.71) | (0.62) | (1.33) | 23.28 | (16.34) | 2,987 | 0.24 | 0.99 | 1.75 | 60 | ||||||||||||||
| 12/31/23(1)(2) | 23.28 | 0.31 | 3.65 | 3.96 | (0.40) | - | (0.40) | 26.84 | 17.21 | 53,272 | 0.40 | 1.50 | 2.06 | 125 | ||||||||||||||
| 12/31/24 | 26.84 | 0.65(3) | 1.13 | 1.78 | (0.93) | - | (0.93) | 27.69 | 6.60 | 49,429 | 0.65 | 1.19 | 2.25 | 77(4) | ||||||||||||||
| 12/31/25 | 27.69 | 0.73(3) | 11.02 | 11.75 | (0.75) | - | (0.75) | 38.69 | 42.43 | 74,858 | 0.65 | 1.04 | 2.16 | 67(4) | ||||||||||||||
| 06/30/26(5) | 38.69 | 0.67(3) | 5.16 | 5.83 | - | - | - | 44.52 | 15.07(6) | 360,523 | 0.65(7) | 0.80(7) | 3.15(7) | 35(4)(6) | ||||||||||||||
| (1) | On December 1, 2023, the Predecessor Fund effected a 0.4524:1 reverse share split. All per share data has been adjusted to reflect the reverse share split. |
| (2) | Effective December 8, 2023, Class Y shares of the Dynamic Allocation Fund were reorganized into shares of the Fund. |
| (3) | The net investment income (loss) per share was based on average shares outstanding for the period. |
| (4) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind and received from processing subscriptions-in-kind. |
| (5) | Unaudited. |
| (6) | Not annualized. |
| (7) | Annualized. |
| Touchstone International Equity ETF | ||||||||||||||||||||||||||
| Period ended |
Net asset value at beginning of period |
Net investment income |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Distributions from net investment income |
Total distributions |
Net asset value at end of period |
Total return based on NAV |
Net assets at end of period (000's) |
Ratio of net expenses to average net assets |
Ratio of gross expenses to average net assets |
Ratio of net investment income (loss) to average net assets |
Portfolio turnover rate |
|||||||||||||
| 12/31/25(1) | $25.00 | $0.29(2) | $0.96 | $1.25 | $(0.16) | $(0.16) | $26.09 | 4.98%(3) | $103,050 | 0.37%(4) | 1.01%(4) | 1.33%(4) | 13%(3)(5) | |||||||||||||
| 06/30/26(6) | 26.09 | 0.32(2) | 0.47 | 0.79 | - | - | 26.88 | 3.04(3) | 110,890 | 0.37(4) | 0.91(4) | 2.51(4) | 7(3)(5) | |||||||||||||
| (1) | Represents the period from commencement of operations (March 3, 2025) through December 31, 2025. |
| (2) | The net investment income (loss) per share was based on average shares outstanding for the period. |
| (3) | Not annualized. |
| (4) | Annualized. |
| (5) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind and received from processing subscriptions-in-kind. |
| (6) | Unaudited. |
See accompanying Notes to Financial Statements.
33
Table of Contents
Financial Highlights (Continued)
| Touchstone Sands Capital Emerging Markets ex-China Growth ETF | ||||||||||||||||||||||||||
| Period ended |
Net asset value at beginning of period |
Net investment income |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Distributions from net investment income |
Total distributions |
Net asset value at end of period |
Total return based on NAV |
Net assets at end of period (000's) |
Ratio of net expenses to average net assets |
Ratio of gross expenses to average net assets |
Ratio of net investment income (loss) to average net assets |
Portfolio turnover rate |
|||||||||||||
| 12/31/25(1) | $25.00 | $0.10 | $4.86 | $4.96 | $(0.32) | $(0.32) | $29.64 | 19.85%(2) | $8,891 | 0.79%(3) | 2.71%(3) | 0.46%(3) | 26%(2)(4) | |||||||||||||
| 06/30/26(5) | 29.64 | 0.07(6) | 8.66 | 8.73 | - | - | 38.37 | 29.50(2) | 13,429 | 0.79(3) | 2.47(3) | 0.45(3) | 13(2)(4) | |||||||||||||
| (1) | Represents the period from commencement of operations (February 24, 2025) through December 31, 2025. |
| (2) | Not annualized. |
| (3) | Annualized. |
| (4) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind and received from processing subscriptions-in-kind. |
| (5) | Unaudited. |
| (6) | The net investment income (loss) per share was based on average shares outstanding for the period. |
| Touchstone Sands Capital US Select Growth ETF | ||||||||||||||||||||||
| Period ended |
Net asset value at beginning of period |
Net investment loss |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net asset value at end of period |
Total return based on NAV |
Net assets at end of period (000's) |
Ratio of net expenses to average net assets |
Ratio of gross expenses to average net assets |
Ratio of net investment income (loss) to average net assets |
Portfolio turnover rate |
|||||||||||
| 12/31/25(1) | $25.00 | $(0.06) | $3.39 | $3.33 | $28.33 | 13.32%(2) | $109,090 | 0.67%(3) | 0.96%(3) | (0.33)%(3) | 109%(2)(4) | |||||||||||
| 06/30/26(5) | 28.33 | (0.04)(6) | 1.26 | 1.22 | 29.55 | 4.31(2) | 83,481 | 0.67(3) | 0.93(3) | (0.29)(3) | 29(2)(4) | |||||||||||
| (1) | Represents the period from commencement of operations (January 2, 2025) through December 31, 2025. |
| (2) | Not annualized. |
| (3) | Annualized. |
| (4) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind and received from processing subscriptions-in-kind. |
| (5) | Unaudited. |
| (6) | The net investment income (loss) per share was based on average shares outstanding for the period. |
| Touchstone Securitized Income ETF | ||||||||||||||||||||||||||||
| Period ended |
Net asset value at beginning of period |
Net investment income |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Distributions from net investment income |
Distributions from realized capital gains |
Total distributions |
Net asset value at end of period |
Total return based on NAV |
Net assets at end of period (000's) |
Ratio of net expenses to average net assets |
Ratio of gross expenses to average net assets |
Ratio of net investment income (loss) to average net assets |
Portfolio turnover rate |
||||||||||||||
| 12/31/23(1) | $25.00 | $0.73 | $0.58 | $1.31 | $(0.73) | $ - | $(0.73) | $25.58 | 5.37%(2) | $24,303 | 0.39%(3) | 1.27%(3) | 6.45%(3) | 11%(2) | ||||||||||||||
| 12/31/24 | 25.58 | 1.53(4) | 0.31 | 1.84 | (1.46) | (0.05) | (1.51) | 25.91 | 7.33 | 108,807 | 0.39 | 0.71 | 5.89 | 36 | ||||||||||||||
| 12/31/25 | 25.91 | 1.65(4) | 0.24 | 1.89 | (1.63) | (0.06) | (1.69) | 26.11 | 7.49 | 122,706 | 0.39 | 0.68 | 6.30 | 45 | ||||||||||||||
| 06/30/26(5) | 26.11 | 0.84(4) | (0.38) | 0.46 | (0.88) | - | (0.88) | 25.69 | 1.80(2) | 159,258 | 0.39(3) | 0.62(3) | 6.57(3) | 17(2) | ||||||||||||||
| (1) | Represents the period from commencement of operations (July 17, 2023) through December 31, 2023. |
| (2) | Not annualized. |
| (3) | Annualized. |
| (4) | The net investment income (loss) per share was based on average shares outstanding for the period. |
| (5) | Unaudited. |
See accompanying Notes to Financial Statements.
34
Table of Contents
Financial Highlights (Continued)
| Touchstone Strategic Income ETF | ||||||||||||||||||||||||||||
| Period ended |
Net asset value at beginning of period |
Net investment income |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Distributions from net investment income |
Distributions from realized capital gains |
Total distributions |
Net asset value at end of period |
Total return based on NAV |
Net assets at end of period (000's) |
Ratio of net expenses to average net assets |
Ratio of gross expenses to average net assets |
Ratio of net investment income (loss) to average net assets |
Portfolio turnover rate |
||||||||||||||
| 12/31/22(1) | $25.00 | $0.48 | $(0.50) | $(0.02) | $(0.49) | $ - | $(0.49) | $24.49 | (0.03)%(2) | $99,200 | 0.65%(3) | 0.89%(3) | 4.51%(3) | 47%(2) | ||||||||||||||
| 12/31/23 | 24.49 | 1.30 | 0.64 | 1.94 | (1.27) | - | (1.27) | 25.16 | 8.14 | 102,522 | 0.65 | 0.87 | 5.27 | 120 | ||||||||||||||
| 12/31/24 | 25.16 | 1.25(4) | 0.25 | 1.50 | (1.20) | (0.15) | (1.35) | 25.31 | 6.09 | 174,668 | 0.61 | 0.87 | 4.91 | 107 | ||||||||||||||
| 12/31/25 | 25.31 | 1.35(4) | 0.97 | 2.32 | (1.32) | (0.44) | (1.76) | 25.87 | 9.34 | 228,929 | 0.49 | 0.81 | 5.22 | 208 | ||||||||||||||
| 06/30/26(5) | 25.87 | 0.66(4) | (0.25) | 0.41 | (0.63) | - | (0.63) | 25.65 | 1.59(2) | 267,362 | 0.49(3) | 0.77(3) | 5.17(3) | 89(2) | ||||||||||||||
| (1) | Represents the period from commencement of operations (July 21, 2022) through December 31, 2022. |
| (2) | Not annualized. |
| (3) | Annualized. |
| (4) | The net investment income (loss) per share was based on average shares outstanding for the period. |
| (5) | Unaudited. |
| Touchstone Ultra Short Income ETF | ||||||||||||||||||||||||||||
| Period ended |
Net asset value at beginning of period |
Net investment income |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Distributions from net investment income |
Distributions from realized capital gains |
Total distributions |
Net asset value at end of period |
Total return based on NAV |
Net assets at end of period (000's) |
Ratio of net expenses to average net assets |
Ratio of gross expenses to average net assets |
Ratio of net investment income (loss) to average net assets |
Portfolio turnover rate |
||||||||||||||
| 12/31/22(1) | $25.00 | $0.35 | $(0.14) | $0.21 | $(0.34) | $ - | $(0.34) | $24.87 | 0.87%(2) | $51,080 | 0.34%(3) | 0.75%(3) | 3.65%(3) | 16%(2) | ||||||||||||||
| 12/31/23 | 24.87 | 1.31 | 0.26 | 1.57 | (1.36) | - | (1.36) | 25.08 | 6.47 | 60,297 | 0.31 | 0.66 | 5.28 | 87 | ||||||||||||||
| 12/31/24 | 25.08 | 1.37(4) | 0.22 | 1.59 | (1.34) | (0.05) | (1.39) | 25.28 | 6.50 | 99,961 | 0.25 | 0.52 | 5.41 | 85 | ||||||||||||||
| 12/31/25 | 25.28 | 1.27(4) | (0.01) | 1.26 | (1.22) | (0.01) | (1.23) | 25.31 | 5.09 | 297,546 | 0.25 | 0.43 | 5.02 | 101 | ||||||||||||||
| 06/30/26(5) | 25.31 | 0.57(4) | (0.08) | 0.49 | (0.53) | - | (0.53) | 25.27 | 1.92(2) | 577,415 | 0.25(3) | 0.36(3) | 4.56(3) | 33(2) | ||||||||||||||
| (1) | Represents the period from commencement of operations (August 4, 2022) through December 31, 2022. |
| (2) | Not annualized. |
| (3) | Annualized. |
| (4) | The net investment income (loss) per share was based on average shares outstanding for the period. |
| (5) | Unaudited. |
| Touchstone US Large Cap Focused ETF | ||||||||||||||||||||||||||
| Period ended |
Net asset value at beginning of period |
Net investment income |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Distributions from net investment income |
Total distributions |
Net asset value at end of period |
Total return based on NAV |
Net assets at end of period (000's) |
Ratio of net expenses to average net assets |
Ratio of gross expenses to average net assets |
Ratio of net investment income (loss) to average net assets |
Portfolio turnover rate |
|||||||||||||
| 12/31/22(1) | $25.00 | $0.06 | $(0.86) | $(0.80) | $(0.06) | $(0.06) | $24.14 | (3.25)%(2) | $24,739 | 0.69%(3) | 1.54%(3) | 0.66%(3) | 3%(2)(4) | |||||||||||||
| 12/31/23 | 24.14 | 0.21 | 6.09 | 6.30 | (0.21) | (0.21) | 30.23 | 26.17 | 31,742 | 0.69 | 1.23 | 0.79 | 3(4) | |||||||||||||
| 12/31/24 | 30.23 | 0.23 | 6.06 | 6.29 | (0.23) | (0.23) | 36.29 | 20.80 | 39,917 | 0.66 | 1.28 | 0.69 | 7(4) | |||||||||||||
| 12/31/25 | 36.29 | 0.23 | 5.94 | 6.17 | (0.23) | (0.23) | 42.23 | 17.00 | 54,897 | 0.55 | 1.17 | 0.62 | 8(4) | |||||||||||||
| 06/30/26(5) | 42.23 | 0.10 | 0.79 | 0.89 | - | - | 43.12 | 2.11(2) | 64,678 | 0.55(3) | 1.11(3) | 0.52(3) | 6(2)(4) | |||||||||||||
| (1) | Represents the period from commencement of operations (July 27, 2022) through December 31, 2022. |
| (2) | Not annualized. |
| (3) | Annualized. |
| (4) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind and received from processing subscriptions-in-kind. |
| (5) | Unaudited. |
See accompanying Notes to Financial Statements.
35
Table of Contents
Notes to Financial Statements
June 30, 2026 (Unaudited)
1. Organization
The Touchstone ETF Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust was established as a Delaware statutory trust pursuant to an Agreement and Declaration of Trust dated February 1, 2022. The Trust consists of ten funds including the following nine funds (individually, a "Fund", and collectively, the "Funds"):
| Touchstone Dividend Select ETF ("Dividend Select ETF") |
| Touchstone Dynamic International ETF ("Dynamic International ETF") |
| Touchstone International Equity ETF ("International Equity ETF") |
| Touchstone Sands Capital Emerging Markets ex-China Growth ETF ("Sands Capital Emerging Markets ex-China Growth ETF") |
| Touchstone Sands Capital US Select Growth ETF ("Sands Capital US Select Growth ETF") |
| Touchstone Securitized Income ETF ("Securitized Income ETF") |
| Touchstone Strategic Income ETF ("Strategic Income ETF") |
| Touchstone Ultra Short Income ETF ("Ultra Short Income ETF") |
| Touchstone US Large Cap Focused ETF ("US Large Cap Focused ETF") |
Each Fund is diversified, with the exception of the Sands Capital Emerging Markets ex-China Growth ETF, Sands Capital US Select Growth ETF and US Large Cap Focused ETF, which are non-diversified.
The Agreement and Declaration of Trust permits the Trust to issue an unlimited number of shares of beneficial interest of each Fund. The Funds are actively managed exchange-traded funds ("ETFs"). Shares of Dividend Select ETF (ticker: DVND), International Equity ETF (ticker: TLCI), Securitized Income ETF (ticker: TSEC), and Strategic Income ETF (ticker: SIO) are listed for trading on NYSE Arca, Inc., shares of the Dynamic International ETF (ticker: TDI) and Sands Capital US Select Growth ETF (ticker: TSEL) are listed for trading on The Nasdaq Stock Market LLC and shares of Sands Capital Emerging Markets ex-China Growth ETF (ticker: TEMX), Ultra Short Income ETF (ticker: TUSI) and the US Large Cap Focused ETF (ticker: LCF) are listed for trading on Cboe BZX Exchange, Inc. The market price for a share of each Fund may be different from a Fund's most recent net asset value ("NAV") per share. ETFs are funds that trade like other publicly traded securities. Unlike shares of a mutual fund, which can be bought and redeemed from the issuing fund by all shareholders at a price based on NAV, shares of the Funds may be purchased or redeemed directly from the Funds at NAV solely by a member or participant of a clearing agency registered with the Securities and Exchange Commission ("SEC"), which has entered into an "Authorized Participant Agreement" with the Funds' distributor and the transfer agent to purchase aggregations of a specific number of shares ("Creation Units") through a dealer that has entered into such an agreement ("Authorized Participants"). Also, unlike shares of a mutual fund, shares of the Funds are listed on an exchange and trade in the secondary market at market prices that change throughout the day.
The assets of each Fund are segregated, and a shareholder's interest is limited to the Fund in which shares are held. The Funds' prospectus provides a description of each Fund's investment goal, policies, and strategies.
2. Significant Accounting Policies
The following is a summary of the Funds' significant accounting policies:
Each Fund is an investment company that follows the accounting and reporting guidance of Accounting Standards Codification Topic 946 applicable to investment companies.
Security valuation and fair value measurements - U.S. generally accepted accounting principles ("U.S. GAAP") defines fair value as the price the Funds would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. All investments in securities are recorded at their fair value. The Funds define the term "market value", as used throughout this report, as the estimated fair value. The Funds use various methods to measure fair value of their portfolio securities on a recurring basis. U.S. GAAP fair value measurement standards require disclosure of a hierarchy that prioritizes inputs to valuation methods. These inputs are summarized in the three broad levels listed below:
• Level 1 − quoted prices in active markets for identical securities
• Level 2 − other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
• Level 3 − significant unobservable inputs (including a Fund's own assumptions in determining the fair value of investments)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The aggregate value by input level, as of June 30, 2026, for each Fund's investments, is included in each Fund's Portfolio of Investments. The Funds did not hold or transfer any Level 3 categorized securities during the six months ended June 30, 2026.
36
Table of Contents
Notes to Financial Statements (Unaudited) (Continued)
Changes in valuation techniques may result in transfers into or out of an investment's assigned level within the hierarchy.
The Funds' portfolio securities are valued as of the close of the regular session of trading on the New York Stock Exchange ("NYSE") (currently 4:00 p.m., Eastern Time or at the time as of which the NYSE establishes official closing prices). Portfolio securities traded on stock exchanges are valued at the last reported sale price, official close price, or last bid price if no sales are reported. Portfolio securities quoted by NASDAQ are valued at the NASDAQ Official Closing Price ("NOCP") or from the primary exchange on which the security trades. To the extent these securities are actively traded, they are categorized in Level 1 of the fair value hierarchy.
Options and futures are valued at the last quoted sales price. If there is no such reported sale on the valuation date, long option positions are valued at the most recent bid price, and short option positions are valued at the most recent ask price on the valuation date and are categorized in Level 1. Shares of mutual funds in which the Funds invest are valued at their respective net asset value ("NAV") as reported by the underlying funds and are categorized in Level 1.
Debt securities held by the Funds are valued at their evaluated bid by an independent pricing service or at their last broker-quoted bid prices as obtained from one or more of the major market makers for such securities. Independent pricing services use information provided by market makers or estimates of market values through accepted market modeling conventions. Observable inputs to the models may include prepayment speeds, pricing spread, yield, trade information, dealer quotes, market color, cash flow models, the securities' terms and conditions, among others, and are generally categorized in Level 2. Investments in asset-backed and mortgage-backed securities are valued by independent pricing services using models that consider estimated cash flows of each tranche of the security, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche, and are generally categorized in Level 2. Debt securities with remaining maturities of 60 days or less may be valued at amortized cost, provided such amount approximates market value and are categorized in Level 2. While this method provides consistency in valuation (and may only be used if it approximates market value), it may result in periods during which fair value, as determined by amortized cost, is higher or lower than the price that would be received if the Fund sold the investment.
Securities mainly traded on a non-U.S. exchange or denominated in foreign currencies are generally valued according to the preceding closing values on that exchange, translated to U.S. dollars using currency exchange rates as of the close of regular trading on the NYSE, and are generally categorized in Level 1. However, if an event that may change the value of a security occurs after the time that the closing value on the non-U.S. exchange was determined, but before the close of regular trading on the NYSE, the security may be priced based on fair value and is generally categorized in Level 2. This may cause the value of the security, if held on the books of a Fund, to be different from the closing value on the non-U.S. exchange and may affect the calculation of that Fund's NAV. The Funds may use fair value pricing under the following circumstances, among others:
• If the value of a security has been materially affected by events occurring before the Funds' pricing time but after the close of the primary markets on which the security is traded.
• If the exchange on which a portfolio security is principally traded closes early or if trading in a particular portfolio security was halted during the day and did not resume prior to the Funds' NAV calculation.
• If a security is so thinly traded that reliable market quotations are unavailable due to infrequent trading.
• If the validity of market quotations is not reliable.
Securities held by the Funds that do not have readily available market quotations, significant observable inputs, or securities for which the available market quotations are not reliable, are priced at their estimated fair value using procedures established by Touchstone Advisors, Inc. (the "Adviser") and adopted by the Funds' Board of Trustees (the "Board") and are generally categorized in Level 3.
Collateralized Loan Obligations - The Securitized Income ETF, Strategic Income ETF and Ultra Short Income ETF may invest in collateralized loan obligations ("CLOs"). CLOs are types of asset-backed securities. A CLO is an entity that is backed by syndicated bank loans. The cash flows of the CLO can be split into multiple segments, called "tranches," which will vary in risk profile and yield. The riskiest segment is the subordinated or "equity" tranche. This tranche bears the greatest risk of defaults from the underlying assets in the CLO and serves to protect the other, more senior, tranches from default in all but the most severe circumstances. Since it is shielded from defaults by the more junior tranches, a "senior" tranche will typically have higher credit ratings and lower yields than their underlying securities, and often receive higher ratings from one or more of the nationally recognized rating agencies. Despite the protection from the more junior tranches, senior tranches can experience substantial losses due to actual defaults, increased sensitivity to future defaults and the disappearance of one or more protecting tranches as a result of changes in the credit profile of the underlying pool of assets.
Investment companies - The Funds may invest in securities of other investment companies, including ETFs, open-end funds and closed-end funds. Open-end funds are investment companies that issue new shares continuously and redeem shares daily. Closed-end funds are investment companies that typically issue a fixed number of shares that trade on a securities exchange or over-the-counter ("OTC"). An ETF is an investment company whose shares are traded on a securities exchange based on their market value. The risks of investment in other investment companies typically reflect the risks of the types of securities in which the other
37
Table of Contents
Notes to Financial Statements (Unaudited) (Continued)
investment companies invest. Investments in ETFs and closed-end funds are subject to the additional risk that their shares may trade at a premium or discount to their NAV. When a Fund invests in another investment company, shareholders of the Fund indirectly bear their proportionate share of the other investment company's fees and expenses, including operating, registration, trustee, licensing, and marketing, as well as their share of the Fund's fees and expenses.
Futures Contracts - The Strategic Income ETF may buy and sell futures contracts and related options to manage its exposure to changing interest rates and securities prices. Some strategies reduce a Fund's exposure to price fluctuations, while others tend to increase its market exposure. Futures and options on futures can be volatile instruments and involve certain risks that could negatively impact a Fund's return. When a Fund purchases or sells a futures contract, or sells an option thereon, a Fund must deposit initial margin and, in some instances, daily variation margin, to meet its obligations under a contract with a futures commission merchant.
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 transactions and the Fund's basis in the contract. Risks of entering into futures contracts include the possibility that a change in the value of the contract may not correlate with the changes in the value of the underlying instruments. 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 futures position prior to its maturity date. Third, the purchase of a futures contract involves the risk that the Fund could lose more than the original margin deposit required to initiate the futures transaction. Finally, the risk exists that losses could exceed amounts disclosed on the Statements of Assets and Liabilities. There is minimal counterparty credit risk involved in entering into futures contracts since they are exchange-traded instruments and the exchange's clearinghouse, as counterparty to all exchange-traded futures, guarantees the futures against default.
Swap Contracts - The Securitized Income ETF and Strategic Income ETF may enter into swap transactions to help enhance the value of their portfolios or manage their exposure to different types of investments. Swaps are financial instruments that typically involve the exchange of cash flows between two parties on specified dates (settlement dates), where the cash flows are based on agreed-upon prices, rates, indexes, etc. The nominal amount on which the cash flows are calculated is called the notional amount. Swaps are individually negotiated and structured to include exposure to a variety of different types of investments or market factors, such as interest rates, foreign currency rates, mortgage securities, corporate borrowing rates, security prices, indexes or inflation rates.
Swap agreements may increase or decrease the overall volatility of the investments of a Fund and its share price. The performance of swap agreements may be affected by a change in the specific interest rate, currency, or other factors that determine the amounts of payments due to and from a Fund. If a swap agreement calls for payments by a Fund, the Fund must be prepared to make such payments when due. In addition, if the counterparty's creditworthiness declines, the value of a swap agreement would be likely to decline, potentially resulting in losses.
Generally, bilateral swap agreements and OTC swaps have a fixed maturity date that will be agreed upon by the parties. The agreement can be terminated before the maturity date only under limited circumstances, such as default by one of the parties or a party's insolvency, and can be transferred by a party only with the prior written consent of the other party. The Fund may be able to eliminate its exposure under a swap agreement either by assignment or by other disposition, or by entering into an offsetting swap agreement with the same party or a similarly creditworthy party. If the counterparty is unable to meet its obligations under the contract, declares bankruptcy, defaults or becomes insolvent, a Fund may not be able to recover the money it expected to receive under the contract.
Cleared swaps are transacted through futures commission merchants that are members of central clearinghouses with the clearinghouses serving as a central counterparty. Pursuant to rules promulgated under the Dodd-Frank Wall Street Reform and Consumer Protection Act, central clearing of swap agreements is currently required for certain market participants trading certain instruments, and central clearing for additional instruments is expected to be implemented by regulators until the majority of the swaps market is ultimately subject to central clearing.
Swaps are marked-to-market daily based upon values received from third party vendors or quotations from market makers. For OTC swaps, any upfront premiums paid or received are recorded as assets or liabilities, respectively, and are shown as premium paid on swap agreements or premium received on swap agreements in the Statements of Assets and Liabilities. For swaps that are centrally cleared, initial margins, determined by each relevant clearing agency or clearing member, are posted at a clearing broker in accordance with CFTC or the applicable regulator's regulations. The change in value of swaps, including accruals of periodic amounts of interest to be paid or received on swaps, is recorded as unrealized appreciation or depreciation. Daily changes in the value of centrally cleared swaps are recorded in the Statements of Assets and Liabilities as receivable or payable for variation margin on swap agreements and settled daily. Upfront premiums and liquidation payments received or paid are recorded as realized gains or losses at the termination or maturity of the swap. Net periodic payments received or paid by the Fund are recorded as realized gain or loss.
38
Table of Contents
Notes to Financial Statements (Unaudited) (Continued)
A swap agreement can be a form of leverage, which can magnify a Fund's gains or losses. In order to reduce the risk associated with leveraging, the Fund will only enter into a swap agreement subject to the regulatory limitations set forth in Rule 18f-4 under the 1940 Act (the "Derivatives Rule").
Foreign currency translation - The books and records of the Funds are maintained in U.S. dollars and translated into U.S. dollars on the following basis:
| (1) | market value of investment securities, assets and liabilities at the current rate of exchange on the valuation date; and |
| (2) | 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 equity securities that is due to changes in the foreign exchange rates from that which is due to changes in market prices of equity securities.
Real Estate Investment Trusts - The Funds may invest in real estate investment trusts ("REITs") that involve risks not associated with investing in stocks. Risks associated with investments in REITs include declines in the value of real estate, general and economic conditions, changes in the value of the underlying property and defaults by borrowers. The value of assets in the real estate industry may go through cycles of relative underperformance and outperformance in comparison to equity securities markets in general. Dividend income is recorded using management's estimate of the income included in distributions received from REIT investments. 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 amount. Estimates of income are adjusted in the Funds to the actual amounts when the amounts are determined.
Derivative instruments and hedging activities - The Securitized Income ETF and Strategic Income ETF may enter into an International Swaps and Derivatives Association, Inc. Master Agreement ("ISDA Master Agreement" or "MNA") or similar agreement with certain counterparties. An ISDA Master Agreement is a bilateral agreement between a Fund and a counterparty that governs OTC derivatives and foreign exchange contracts, and typically contains, among other things, collateral posting terms and master netting provisions in the event of a default or termination. Under an ISDA Master Agreement, a party may, under certain circumstances, offset with the counterparty certain derivative financial instruments' payables or receivables with collateral held or posted and create one single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of default (close-out netting). These default events include bankruptcy or insolvency of the counterparty. Note, however, that bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset.
When entering into a derivative transaction, a Fund may be required to post and maintain collateral or margin (including both initial and variation margin). Collateral and margin requirements differ by type of derivative. Margin requirements are established by the broker or clearing house for exchange-traded and centrally cleared derivatives (financial futures contracts, options, and centrally cleared swaps). Brokers can ask for margining in excess of the clearing house's minimum in certain circumstances. Collateral terms are contract specific for OTC derivatives (forward foreign currency contracts, options, and swaps). For derivatives traded under an ISDA Master Agreement, the collateral requirements are typically calculated by netting the marked-to-market amount for each transaction under such agreement and comparing that amount to the value of any collateral currently pledged by the Fund and the counterparty. For financial reporting purposes, cash collateral that has been pledged to cover obligations of the Fund and cash collateral received from the counterparty, if any, are reported separately on the Statements of Assets and Liabilities as cash deposits held at prime broker and due to prime broker, respectively. Non-cash collateral pledged by the Fund, if any, is noted in the Portfolio of Investments. To the extent amounts due to the Fund from its counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from counterparty non-performance.
Certain ISDA Master Agreements allow counterparties to OTC derivatives transactions to terminate derivative contracts prior to maturity in the event a Fund's net assets decline by a stated percentage or the Fund fails to meet the terms of its ISDA Master Agreement, which would cause the Fund (counterparty) to accelerate payment of any net liability owed to the counterparty (Fund).
For financial reporting purposes, the Funds do not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Statements of Assets and Liabilities.
As of June 30, 2026, the Funds did not hold any assets and liabilities that were subject to a MNA.
39
Table of Contents
Notes to Financial Statements (Unaudited) (Continued)
The following table sets forth the fair value of the Strategic Income ETF's derivative financial instruments by primary risk exposure as of June 30, 2026:
| Fund |
Derivatives not accounted for as hedging instruments under ASC 815 |
Asset Derivatives |
Liability Derivatives |
| Strategic Income ETF |
Futures Contracts - Interest Rate Contracts(1)
|
$10,753 | $46,071 |
| (1) | Statements of Assets and Liabilities Location: Payable for variation margin on futures contracts. Only current day's variation margin is reported within the payable/receivable on the Statement of Assets and Liabilities. Includes cumulative appreciation/(depreciation) on futures contracts as reported on the Portfolio of Investments and within the components of net assets section of the Statement of Assets and Liabilities. |
The following table sets forth the effect of the Strategic Income ETF's derivative financial instruments by primary risk exposure on the Statements of Operations for the six months ended June 30, 2026:
| Fund |
Derivatives not accounted for as hedging instruments under ASC 815 |
Realized Gains (Losses) on Derivatives |
Change in Unrealized Appreciation (Depreciation) on Derivatives |
| Strategic Income ETF |
Futures - Interest Rate Contracts(1)
|
$(852,269) | $(35,318) |
| (1) | Statements of Operations Location: Net realized losses on futures contracts and Net change in unrealized appreciation (depreciation) on futures contracts, respectively. |
For the six months ended June 30, 2026, the average quarterly balances of outstanding derivative financial instruments for the Strategic Income ETF was as follows:
| Strategic Income ETF | |
| Interest Rate Contracts: | |
| Futures Contracts (long) - Notional Value | $18,777,529 |
Portfolio securities loaned - The Funds may lend their portfolio securities, with the exception of the Ultra Short Income ETF. Lending portfolio securities exposes the Funds to the risk that the borrower may fail to return the loaned securities or may not be able to provide additional collateral or that the Funds may experience delays in recovery of the loaned securities or loss of rights in the collateral if the borrower fails financially. To minimize these risks, the borrower must agree to maintain cash collateral with the Funds' custodian. The loaned securities are secured by collateral valued at least equal, at all times, to the market value of the loaned securities plus accrued interest, if any. When the collateral falls below specified amounts, the lending agent will use its best effort to obtain additional collateral on the next business day to meet required amounts under the security lending agreement. The cash collateral is reinvested by the Funds' custodian into an approved short-term investment vehicle. The approved short-term investment vehicle is subject to market risk.
As of June 30, 2026, the following Funds loaned securities and received collateral as follows:
| Fund | Security Type |
Market Value of Securities Loaned(1) |
Market Value of Collateral Received(2) |
Net Amount(3) |
| Dynamic International ETF | Common Stocks | $1,778,729 | $1,884,716 | $105,987 |
| Strategic Income ETF | Corporate Bonds | 2,265,867 | 2,374,111 | 108,244 |
| US Large Cap Focused ETF | Common Stocks | 593,447 | 626,760 | 33,313 |
| (1) | The remaining contractual maturity is overnight for all securities. |
| (2) | Gross amount of recognized liabilities for securities lending included in the Statements of Assets and Liabilities. |
| (3) | Net amount represents the net amount payable due to (received from) the borrower in the event of default. |
All cash collateral is received, held, and administered by the Funds' custodian for the benefit of the lending Fund in its custody account or other account established for the purpose of holding collateral in cash equivalents.
Funds participating in securities lending receive compensation in the form of fees. Securities lending income is derived from lending long securities from the Funds to creditworthy approved borrowers at rates that are determined based on daily trading volumes, float, short-term interest rates and market liquidity and is shown net of fees on the Statements of Operations. When a Fund lends securities, it retains the interest or dividends on the investment of any cash received as collateral, and the Fund continues to receive interest or dividends on the loaned securities.
40
Table of Contents
Notes to Financial Statements (Unaudited) (Continued)
Unrealized gain or loss on the market value of the loaned securities that may occur during the term of the loan is recognized by the Fund. The Fund has the right under the lending agreement to recover any loaned securities from the borrower on demand.
When-issued or delayed delivery transactions - Each Fund may purchase or sell securities on a when-issued or delayed delivery basis. These transactions involve a commitment by the Fund to purchase or sell securities for a predetermined price or yield, with payment and delivery taking place beyond the customary settlement period. When purchasing a security on a delayed delivery basis, the Fund assumes the rights and risks of ownership of the security, including the risk of price and yield fluctuations, and takes such fluctuations into account when determining NAV. The Fund may dispose of or renegotiate a delayed delivery transaction after it is entered into, and may sell when-issued securities before they are delivered, which may result in a capital gain or loss. When the Fund has sold a security on a delayed delivery basis, the Fund does not participate in future gains and losses with respect to the security. When-issued or delayed delivery transactions physically settling within 35-days are deemed not to involve a senior security. When-issued or delayed delivery transactions that do not physically settle within 35-days are required to be treated as derivatives transactions in compliance with the Derivatives Rule.
Share valuation - The NAV per share of each Fund is calculated daily by dividing the total value of a Fund's assets, less liabilities, by the number of outstanding shares.
Investment income - Dividend income from securities is recognized on the ex-dividend date, net of foreign withholding taxes, if any, which are reduced by any amounts reclaimable by the Funds, where applicable. Interest income from securities is recorded on the basis of interest accrued, premium amortized and discount accreted. Realized gains and losses resulting from principal pay downs on mortgage-backed and asset-backed securities are included in interest income. Market discounts, original issue discounts and market premiums on debt securities are accreted/amortized to interest income over the life of the security or to the appropriate call date, as applicable, with a corresponding adjustment in the cost basis of that security. In addition, it is the Funds' policy to accrue for foreign capital gains taxes, if applicable, on certain foreign securities held by the Funds. An estimated foreign capital gains tax is recorded daily on net unrealized gains on these securities and is payable upon the sale of such securities when a gain is realized.
Distributions to shareholders - Each Fund intends to distribute to its shareholders substantially all of its income and capital gains. The Dynamic International ETF, International Equity ETF, Sands Capital Emerging Markets ex-China Growth ETF, Sands Capital US Select Growth ETF and US Large Cap Focused ETF declare and distribute their income, if any, annually, as a dividend to shareholders. The Dividend Select ETF declares and distributes its income, if any, quarterly, as a dividend to shareholders. The Securitized Income ETF, Strategic Income ETF and the Ultra Short Income ETF declare and distribute their income, if any, monthly as a dividend to shareholders. Each Fund makes distributions of capital gains, if any, at least annually, net of applicable capital loss carryforwards. Income distributions and capital gain distributions are determined in accordance with income tax regulations. Recognition of the Funds' net investment income from investments in underlying funds is affected by the timing of dividend declarations by the underlying funds.
Allocations - Expenses not directly billed to a Fund are allocated proportionally among all Funds in the Trust, and, if applicable, Touchstone Funds Group Trust, Touchstone Strategic Trust and Touchstone Variable Series Trust (collectively with the Trust, "Touchstone Fund Complex"), daily in relation to net assets of each Fund or another reasonable measure.
Security transactions - Security transactions are reflected for financial reporting purposes as of the trade date. Realized gains and losses on sales of portfolio securities are calculated using the identified cost basis.
Estimates - 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 at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.
Operating Segments - The Funds adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures ("ASU 2023-07"). Adoption of the new standard impacted financial statement disclosures only and did not affect the Funds' financial position or the results of their 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. Each Fund represents a single operating segment. The management team of the Adviser acts as the Funds' CODM. The CODM monitors the operating results of the Funds as a whole and also monitors each Fund's asset allocation for adherence to its principal investment strategies as disclosed in its prospectus. The financial information, including the Funds' portfolio of investments, total returns, expense ratios and changes in net assets, are used by the CODM to assess the segment's performance versus the Funds' benchmarks and to make resource allocation decisions for the Funds' single segment and is consistent with that presented within the Funds' financial statements. Segment assets are reflected on the accompanying statements of assets and liabilities and segment
41
Table of Contents
Notes to Financial Statements (Unaudited) (Continued)
expenses are listed on the accompanying statements of operations. The accounting policies of the segment are the same as those described in the summary of significant accounting policies.
3. Investment Transactions
Investment transactions (excluding short-term investments) were as follows for the six months ended June 30, 2026:
| Dividend Select ETF | Dynamic International ETF | International Equity ETF |
Sands Capital Emerging Markets ex-China Growth ETF |
|
| Purchases of investment securities | $3,080,388 | $157,223,408 | $7,368,256 | $3,572,485 |
| Proceeds from sales and maturities | 2,809,274 | 67,501,541 | 8,341,553 | 1,397,119 |
| Purchases of U.S. Government Securities | - | - | - | - |
| Proceeds from U.S. Government Securities | - | - | - | - |
| Subscriptions-in-kind(1) | 14,281,473 | 240,007,515 | 9,773,852 | 520,966 |
| Redemptions-in-Kind(2) | 3,430,649 | 66,168,179 | 5,226,831 | 945,003 |
|
Sands Capital US Select Growth ETF |
Securitized Income ETF |
Strategic Income ETF | Ultra Short Income ETF | US Large Cap Focused ETF | |
| Purchases of investment securities | $32,434,344 | $49,533,365 | $67,445,421 | $361,029,131 | $3,721,688 |
| Proceeds from sales and maturities | 31,065,664 | 22,038,536 | 51,294,158 | 107,300,050 | 3,497,474 |
| Purchases of U.S. Government Securities | - | 7,311,622 | 182,861,292 | 4,404,805 | - |
| Proceeds from U.S. Government Securities | - | 104,102 | 162,863,879 | - | - |
| Subscriptions-in-kind(1) | 21,812,863 | - | - | - | 12,732,537 |
| Redemptions-in-Kind(2) | 51,510,045 | - | - | - | 4,187,355 |
| (1) | Subscriptions-in-kind are excluded from purchases of investment securities. |
| (2) | Redemptions-in-kind are excluded from proceeds from sales and maturities. |
4. Transactions with Affiliates and Other Related Parties
Certain officers of the Trust are also officers of the Adviser, or The Bank of New York Mellon ("BNY Mellon"), the sub-administrator, custodian and transfer agent to the Funds. Such officers receive no compensation from the Trust. The Adviser is a wholly-owned subsidiary of Western & Southern Financial Group, Inc. ("Western & Southern").
On behalf of the Funds, the Adviser pays each Independent Trustee a quarterly retainer plus additional retainers to the Lead Independent Trustee and the chairs of each standing committee. Interested Trustees do not receive compensation from the Funds. Each Independent Trustee also receives compensation for each Board meeting and committee meeting attended. Each standing committee chair receives additional compensation for each committee meeting that he or she oversees. The Adviser is reimbursed by the Funds for the Independent Trustees' compensation and out-of-pocket expenses relating to their services. The Funds accrued Trustee-related expenses of $147,087 for the Funds' Board for the six months ended June 30, 2026.
MANAGEMENT & EXPENSE LIMITATION AGREEMENTS
The Adviser provides general investment supervisory services for the Funds, under the terms of an advisory agreement (the "Advisory Agreement"). Under the Advisory Agreement, each Fund pays the Adviser a fee, which is computed and accrued daily and paid monthly, at an annual rate based on average daily net assets of each Fund as shown in the table below.
| Dividend Select ETF | 0.55% on the first $1 billion |
| 0.50% on assets over $1 billion | |
| Dynamic International ETF | 0.55% on the first $500 million |
| 0.50% on assets over $500 million | |
| International Equity ETF | 0.625% on the first $500 million |
| 0.60% on assets over $500 million | |
| Sands Capital Emerging Markets ex-China Growth ETF | 0.74% on the first $200 million |
| 0.71% on the next $1.3 billion | |
| 0.69% on assets over $1.5 billion |
42
Table of Contents
Notes to Financial Statements (Unaudited) (Continued)
| Sands Capital US Select Growth ETF | 0.65% on the first $1 billion |
| 0.60% on the next $1 billion | |
| 0.55% on the next $2 billion | |
| 0.52% on assets over $4 billion | |
| Securitized Income ETF | 0.34% on the first $500 million |
| 0.30% on assets over $500 million | |
| Strategic Income ETF | 0.55% on the first $250 million |
| 0.50% on the next $250 million | |
| 0.45% on assets over $500 million | |
| Ultra Short Income ETF | 0.18% on the first $500 million |
| 0.16% on assets over $500 million | |
| US Large Cap Focused ETF | 0.70% on the first $500 million |
| 0.65% on the next $300 million | |
| 0.60% on the next $200 million | |
| 0.50% on the next $1 billion | |
| 0.40% on assets over $2 billion |
The Adviser has entered into investment sub-advisory agreements with the following parties (each, a "Sub-Adviser"):
| Fort Washington Investment Advisors, Inc.* | London Company of Virginia, LLC d/b/a The London Company |
| Dividend Select ETF | International Equity ETF |
| Securitized Income ETF | Los Angeles Capital Management LLC |
| Strategic Income ETF | Dynamic International ETF |
| Ultra Short Income ETF | Sands Capital Management, LLC |
| US Large Cap Focused ETF | Sands Capital Emerging Markets ex-China Growth ETF |
| Sands Capital US Select Growth ETF |
*Affiliate of the Adviser and wholly-owned subsidiary of Western & Southern.
The Adviser pays sub-advisory fees to each Sub-Adviser from its advisory fee.
The Adviser entered into an expense limitation agreement (the "Expense Limitation Agreement") to contractually limit the annual operating expenses of the Funds, excluding: dividend and interest expenses relating to short sales; interest; taxes; brokerage commissions and other transaction costs; portfolio transaction and investment related expenses, including expenses associated with the Funds' interfund lending program, if any; other expenditures which are capitalized in accordance with U.S. GAAP; the cost of "Acquired Fund Fees and Expenses", if any; and other extraordinary expenses not incurred in the ordinary course of business. The maximum annual operating expense limit in any year with respect to the Funds is based on a percentage of the average daily net assets of the Funds. The Adviser has agreed to waive a portion of its fees, and to reimburse certain fund expenses in order to maintain the following expense limitations for the Funds:
| Termination Date | ||
| Dividend Select ETF | 0.49% | April 29, 2027 |
| Dynamic International ETF | 0.65% | April 29, 2027 |
| International Equity ETF | 0.37% | April 29, 2027 |
| Sands Capital Emerging Markets ex-China Growth ETF | 0.79% | April 29, 2027 |
| Sands Capital US Select Growth ETF | 0.67% | April 29, 2027 |
| Securitized Income ETF | 0.39% | April 29, 2027 |
| Strategic Income ETF | 0.49% | April 29, 2027 |
| Ultra Short Income ETF | 0.25% | April 29, 2027 |
| US Large Cap Focused ETF | 0.55% | April 29, 2027 |
The Expense Limitation Agreement can be terminated with respect to each Fund by a vote of the Funds' Board if it deems the termination to be beneficial to the Funds' shareholders.
During the six months ended June 30, 2026, the Adviser or its affiliates waived investment advisory fees, administration fees or other operating expenses, as follows:
| Fund |
Investment Advisory Fees Waived |
Administration Fees Waived |
Other Operating Expenses Reimbursed/ Waived |
Total |
| Dividend Select ETF | $13,611 | $28,451 | $80,051 | $122,113 |
| Dynamic International ETF | - | 101,683 | 43,820 | 145,503 |
43
Table of Contents
Notes to Financial Statements (Unaudited) (Continued)
| Fund |
Investment Advisory Fees Waived |
Administration Fees Waived |
Other Operating Expenses Reimbursed/ Waived |
Total |
| International Equity ETF | $135,425 | $68,651 | $77,970 | $282,046 |
| Sands Capital Emerging Markets ex-China Growth ETF | - | 7,192 | 84,753 | 91,945 |
| Sands Capital US Select Growth ETF | - | 73,902 | 71,275 | 145,177 |
| Securitized Income ETF | - | 90,289 | 70,768 | 161,057 |
| Strategic Income ETF | 89,680 | 160,190 | 95,611 | 345,481 |
| Ultra Short Income ETF | - | 192,864 | 35,742 | 228,606 |
| US Large Cap Focused ETF | 43,617 | 37,744 | 78,712 | 160,073 |
Under the terms of the Expense Limitation Agreement, the Adviser is entitled to recover, subject to approval by the Funds' Board, such amounts waived or reimbursed, subject to certain limitations, for a period of up to three years from the date on which the Adviser reduced its compensation or assumed expenses for the Funds. A Fund will make repayments to the Adviser only if such repayment does not cause the Fund's operating expenses (after the repayment is taken into account) to exceed the Fund's expense limit in place when such amounts were waived or reimbursed by the Adviser and the Fund's current expense limitation.
As of June 30, 2026, the Adviser may seek recoupment of previously waived fees and reimbursed expenses as follows:
| Fund |
Expires on or before December 31, 2026 |
Expires on or before December 31, 2027 |
Expires on or before December 31, 2028 |
Expires on or before December 31, 2029 |
Total |
| Dividend Select ETF | $95,592 | $175,860 | $232,982 | $122,113 | $626,547 |
| Dynamic International ETF | 14,033 | 293,104 | 237,249 | 145,503 | 689,889 |
| International Equity ETF | - | - | 302,575 | 282,046 | 584,621 |
| Sands Capital Emerging Markets ex-China Growth ETF | - | - | 131,360 | 91,945 | 223,305 |
| Sands Capital US Select Growth ETF | - | - | 190,070 | 145,177 | 335,247 |
| Securitized Income ETF | 91,018 | 251,272 | 325,045 | 161,057 | 828,392 |
| Strategic Income ETF | 118,940 | 308,710 | 636,641 | 345,481 | 1,409,772 |
| Ultra Short Income ETF | 111,838 | 217,127 | 322,158 | 228,606 | 879,729 |
| US Large Cap Focused ETF | 82,967 | 225,651 | 299,524 | 160,073 | 768,215 |
The Adviser did not recoup any amounts it previously waived or reimbursed during the six months ended June 30, 2026.
ADMINISTRATION AGREEMENT
The Adviser entered into an Administration Agreement with the Trust, whereby the Adviser is responsible for: supplying executive and regulatory compliance services; supervising the preparation of tax returns; coordinating the preparation of reports to shareholders and reports to and filings with the SEC and state securities authorities, as well as materials for meetings of the Board; calculating the daily NAV per share; and maintaining the financial books and records of each Fund.
For its services, the Adviser's annual administrative fee is:
0.145% on the first $20 billion of the aggregate average daily net assets;
0.11% on the next $10 billion of aggregate average daily net assets;
0.09% on the next $10 billion of aggregate average daily net assets; and
0.07% on the aggregate average daily net assets over $40 billion.
The fee is computed and allocated among the Touchstone Fund Complex on the basis of relative daily net assets.
The Adviser has engaged BNY Mellon as the sub-administrator to the Trust. BNY Mellon provides administrative and accounting services to the Trust and is compensated directly by the Adviser, not the Trust.
TRANSFER AGENT AGREEMENT
Under the terms of the Transfer Agent Agreement between the Trust and BNY Mellon, BNY Mellon provides the Trust with transfer agency services, which include Creation Unit order processing. For these services, BNY Mellon receives a monthly fee from each Fund. In addition, each Fund pays out-of-pocket expenses incurred by BNY Mellon, including, but not limited to, postage and supplies.
44
Table of Contents
Notes to Financial Statements (Unaudited) (Continued)
CUSTODIAN AGREEMENT
As custodian, BNY Mellon is responsible for custody of each Fund's assets.
SECURITIES LENDING AGREEMENT
As securities lending agent, BNY Mellon administers the securities lending program for the Funds. BNY Mellon lends certain securities, which are held in custody accounts maintained with BNY Mellon, to borrowers that have been approved by the Funds.
PLANS OF DISTRIBUTION
The Trust has adopted a distribution plan pursuant to Rule 12b-1 under the 1940 Act. The plan allows each Fund to pay distribution fees up to a maximum of 0.25% of average daily net assets. No such fee is currently incurred and paid by the Funds. The Funds will not incur and pay distribution fees until such time as approved by the Fund's Board.
DISTRIBUTOR
Foreside Fund Services, LLC (the "Distributor") serves as the principal distributor of the Fund's shares. The Adviser has agreed to compensate the Distributor for distribution-related services.
INTERFUND TRANSACTIONS
Pursuant to Rule 17a-7 under the 1940 Act, the Funds may engage in purchase and sale transactions with funds that have a common investment adviser (or affiliated investment advisers), common Trustees and/or common Officers. During the six months ended June 30, 2026, the Funds did not engage in any Rule 17a-7 transactions.
5. Fund Share Transactions
Shares of each Fund are issued and redeemed only in Creation Units. Investors may acquire shares and shareholders may tender their shares for redemption only in Creation Units. The number of shares of a Fund that constitute a Creation Unit is as follows: 25,000 for the Dividend Select ETF, International Equity ETF, Sands Capital Emerging Markets ex-China Growth ETF, Sands Capital US Select Growth ETF, Strategic Income ETF and US Large Cap Focused ETF and 50,000 for the Dynamic International ETF, Securitized Income ETF and Ultra Short Income ETF. Each Fund generally offers and issues shares either in exchange for (i) a basket of securities designated by the Fund ("Deposit Securities") together with the deposit of a specified cash payment ("Cash Component") or (ii) a cash payment equal in value to the Deposit Securities ("Deposit Cash") together with the Cash Component. Transactions in capital shares of the Fund are disclosed in detail in the Statement of Changes in Net Assets. Authorized Participants are subject to standard creation and redemption transaction fees to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units.
6. Liquidity
Interfund Lending - Pursuant to an Exemptive Order issued by the SEC on March 28, 2017, the Funds, along with certain other funds in the Touchstone Fund Complex, may participate in an interfund lending program. The interfund lending program provides an alternate credit facility that allows the Funds to lend to or borrow from other participating funds in the Touchstone Fund Complex, subject to the conditions of the Exemptive Order. The Funds may not borrow under the facility for leverage purposes and the loans' duration may be no more than 7 days.
During the six months ended June 30, 2026, the Funds did not utilize Interfund Lending.
7. Federal Tax Information
Federal Income Tax - It is each Fund's policy to continue to comply with the special provisions of the Internal Revenue Code applicable to regulated investment companies. As provided therein, in any fiscal year in which a Fund so qualifies and distributes at least 90% of its investment company taxable income, the Fund (but not the shareholders) will be relieved of federal income tax on the income distributed. It is each Fund's policy to distribute all of its taxable income and accordingly, no provision for income taxes has been made.
In order to avoid imposition of the excise tax applicable to regulated investment companies, it is also each Fund's intention to declare and pay as dividends in each calendar year at least 98% of its investment company taxable income (earned during the calendar year) and 98.2% of its net realized capital gains (earned during the twelve months ending October 31) plus undistributed amounts from prior years.
45
Table of Contents
Notes to Financial Statements (Unaudited) (Continued)
The tax character of distributions paid for the year ended December 31, 2025 and December 31, 2024 were as follows:
| Dividend Select ETF | Dynamic International ETF | International Equity ETF | |||
|
Year Ended December 31, 2025 |
Year Ended December 31, 2024 |
Year Ended December 31, 2025 |
Year Ended December 31, 2024 |
Period Ended December 31, 2025 |
|
| From ordinary income | $742,563 | $707,574 | $1,450,174 | $1,667,858 | $617,148 |
| From long-term capital gains | - | - | - | - | - |
| Total distributions | $742,563 | $707,574 | $1,450,174 | $1,667,858 | $617,148 |
| Sands Capital Emerging Markets ex-China Growth ETF | Sands Capital US Select Growth ETF | Securitized Income ETF | ||
|
Period Ended December 31, 2025 |
Period Ended December 31, 2025 |
Year Ended December 31, 2025 |
Year Ended December 31, 2024 |
|
| From ordinary income | $96,555 | $- | $7,201,172 | $4,625,010 |
| From long-term capital gains | - | - | 177,849 | 178,778 |
| Total distributions | $96,555 | $- | $7,379,021 | $4,803,788 |
| Strategic Income ETF | Ultra Short Income ETF | US Large Cap Focused ETF | ||||
|
Year Ended December 31, 2025 |
Year Ended December 31, 2024 |
Year Ended December 31, 2025 |
Year Ended December 31, 2024 |
Year Ended December 31, 2025 |
Year Ended December 31, 2024 |
|
| From ordinary income | $13,481,920 | $6,435,061 | $9,168,753 | $4,458,057 | $300,183 | $250,470 |
| From long-term capital gains | 805,695 | 341,814 | 96,250 | 38,501 | - | - |
| Total distributions | $14,287,615 | $6,776,875 | $9,265,003 | $4,496,558 | $300,183 | $250,470 |
The following information is computed on a tax basis for each item as of December 31, 2025:
| Dividend Select ETF | Dynamic International ETF | International Equity ETF | |
| Tax cost of portfolio investments | $32,998,938 | $60,455,333 | $101,705,862 |
| Gross unrealized appreciation on investments | 6,514,762 | 16,177,939 | 6,985,201 |
| Gross unrealized depreciation on investments | (1,697,524) | (1,681,183) | (5,915,964) |
| Net unrealized appreciation (depreciation) on investments | 4,817,238 | 14,496,756 | 1,069,237 |
| Gross unrealized appreciation on foreign currency transactions | - | 4,254 | 878 |
| Net unrealized appreciation (depreciation) on foreign currency transactions | - | 4,254 | 878 |
| Capital loss carryforwards | (1,313,031) | (5,082,729) | (340,241) |
| Qualified late year losses | - | - | (10,572) |
| Undistributed ordinary income | 6,912 | - | - |
| Accumulated earnings (deficit) | $3,511,119 | $9,418,281 | $719,302 |
|
Sands Capital Emerging Markets ex-China Growth ETF |
Sands Capital US Select Growth ETF |
Securitized Income ETF |
|
| Tax cost of portfolio investments | $7,882,475 | $99,102,352 | $120,379,041 |
| Gross unrealized appreciation on investments | 1,506,835 | 12,790,419 | 2,789,940 |
| Gross unrealized depreciation on investments | (379,494) | (2,696,222) | (1,142,888) |
| Net unrealized appreciation (depreciation) on investments | 1,127,341 | 10,094,197 | 1,647,052 |
| Gross unrealized depreciation on foreign currency transactions and deferred foreign capital gains tax | (71,834) | - | - |
| Net unrealized appreciation (depreciation) on foreign currency transactions and deferred foreign capital gains tax | (71,834) | - | - |
| Capital loss carryforwards | - | (5,127,966) | - |
| Undistributed ordinary income | 18,844 | - | - |
| Accumulated earnings (deficit) | $1,074,351 | $4,966,231 | $1,647,052 |
46
Table of Contents
Notes to Financial Statements (Unaudited) (Continued)
| Strategic Income ETF | Ultra Short Income ETF | US Large Cap Focused ETF | |
| Tax cost of portfolio investments | $225,268,422 | $297,651,310 | $43,768,039 |
| Gross unrealized appreciation on investments | 5,478,582 | 729,284 | 12,481,330 |
| Gross unrealized depreciation on investments | (2,096,588) | (274,940) | (1,285,163) |
| Net unrealized appreciation (depreciation) on investments | 3,381,994 | 454,344 | 11,196,167 |
| Capital loss carryforwards | - | - | (754,007) |
| Qualified late year losses | (111,084) | - | - |
| Undistributed ordinary income | 128,696 | 59 | 906 |
| Undistributed capital gains | - | 2,822 | - |
| Other temporary differences | (372,293) | - | - |
| Accumulated earnings (deficit) | $3,027,313 | $457,225 | $10,443,066 |
The difference between the tax cost of portfolio investments and the financial statement cost is primarily due to wash sale loss deferrals, investments in passive foreign investment company ("PFIC") adjustments, Real Estate Investment Trust adjustments, amortization adjustments on bonds and certain timing differences in the recognition of capital losses under income tax regulations and U.S. GAAP.
As of December 31, 2025, the Funds had the following capital loss carryforwards for federal income tax purposes:
| Fund |
No Expiration Short Term |
No Expiration Long Term |
Total |
| Dividend Select ETF | $ 388,413 | $ 924,618 | $ 1,313,031 |
| Dynamic International ETF | 3,651,903 | 1,430,826 | 5,082,729 |
| International Equity ETF | 340,241 | - | 340,241 |
| Sands Capital US Select Growth ETF | 5,127,966 | - | 5,127,966 |
| US Large Cap Focused ETF | 351,075 | 402,932 | 754,007 |
The capital loss carryforwards may be utilized in future years to offset net realized capital gains, if any, prior to distributing such gains to shareholders.
The Funds recognize tax benefits or expenses of uncertain tax positions only when the position is more likely than not to be sustained assuming examination by tax authorities. Management of the Funds has reviewed tax positions taken in tax years that remain subject to examination by all major tax jurisdictions, including federal (i.e., the previous three tax year ends and the interim tax period since then, as applicable) and has concluded that no provision for unrecognized tax benefits or expenses is required in these financial statements and does not expect this to change over the next six months. The Funds recognize interest and penalties, if any, related to unrecognized tax benefits in the Statements of Operations. During the period, the Funds did not incur any interest or penalties.
As of June 30, 2026, the Trust had federal tax costs resulting in net unrealized appreciation (depreciation) as follows:
| Fund |
Federal Tax Cost |
Gross Unrealized Appreciation on Investments |
Gross Unrealized Depreciation on Investments |
Gross Unrealized Appreciation on Other(1) |
Gross Unrealized Depreciation on Other(1) |
Net Unrealized Appreciation (Depreciation) |
| Dividend Select ETF | $45,052,120 | $9,277,958 | $(1,568,659) | $- | $- | $7,709,299 |
| Dynamic International ETF | 348,836,987 | 31,548,168 | (18,609,839) | 1,207 | (2,123) | 12,937,413 |
| International Equity ETF | 108,068,869 | 13,837,304 | (11,188,603) | - | (3,213) | 2,645,488 |
| Sands Capital Emerging Markets ex-China Growth ETF | 10,142,571 | 4,057,568 | (797,476) | 167 | (44,913) | 3,215,346 |
| Sands Capital US Select Growth ETF | 76,104,699 | 12,176,507 | (4,708,682) | - | - | 7,467,825 |
| Securitized Income ETF | 163,805,139 | 2,175,641 | (2,984,803) | - | - | (809,162) |
| Strategic Income ETF | 268,586,032 | 4,064,887 | (2,579,522) | 10,753 | (46,071) | 1,450,047 |
| Ultra Short Income ETF | 580,799,953 | 419,698 | (1,657,008) | - | - | (1,237,310) |
| US Large Cap Focused ETF | 54,878,186 | 12,623,714 | (2,117,628) | - | - | 10,506,086 |
| (1) | Other includes Derivatives and Foreign Currency Transactions. | |
8. Commitments and Contingencies
The Funds indemnify the Trust's officers and Trustees for certain liabilities that might arise from their performance of their duties to the Funds. Additionally, in the normal course of business, the Funds enter into contracts that contain a variety of representations
47
Table of Contents
Notes to Financial Statements (Unaudited) (Continued)
and warranties and which provide general indemnifications. The Funds' maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds.
9. Principal Risks
Risks Associated with Foreign Investments - Certain Funds may invest in the securities of foreign issuers. Investing in securities issued by companies whose principal business activities are outside the U.S. may involve significant risks not present in domestic investments. For example, there is generally less publicly available information about foreign companies, particularly those not subject to the disclosure and reporting requirements of the U.S. securities laws. Foreign issuers are generally not bound by uniform accounting, auditing, and financial reporting requirements and standards of practice comparable to those applicable to domestic issuers. Investments in foreign securities also involve the risk of possible adverse changes in investment or exchange control regulations, expropriation or confiscatory taxation, limitations on the removal of funds or other assets of a Fund, political or financial instability or diplomatic and other developments which could affect such investments. Political and military events may cause market disruptions. Foreign stock markets, while growing in volume and sophistication, are generally not as developed as those in the U.S., and securities of some foreign issuers (particularly those located in developing countries) may be less liquid and more volatile than securities of comparable U.S. companies. In general, there is less overall governmental supervision and regulation of foreign securities markets, broker-dealers, and issuers than in the U.S.
Risks Associated with Sector Concentration - Certain Funds may invest a high percentage of their assets in specific sectors of the market in order to achieve a potentially greater investment return. As a result, these Funds may be more susceptible to economic, political, and regulatory developments, positive or negative, in a particular sector of the market and may experience increased volatility in the Funds' NAVs and magnified effect on the total return.
Risks Associated with Credit - An issuer may be unable to make timely payments of either principal or interest. This may cause the issuer's securities to decline in value. Credit risk is particularly relevant to those Funds that invest a significant amount of their assets in junk bonds or lower-rated securities.
Risks Associated with Cybersecurity - With the increased use of technologies, such as mobile devices and "cloud"-based service offerings and the dependence on the Internet and computer systems to perform necessary business functions, the Funds' service providers are susceptible to Cybersecurity risks that could result in losses to a Fund and its shareholders. Cybersecurity breaches are either intentional or unintentional events that allow an unauthorized party to gain access to Fund assets, customer data, or proprietary information, or cause a Fund or Fund service provider to suffer data corruption or lose operational functionality. A Cybersecurity breach could result in the loss or theft of customer data or funds, loss or theft of proprietary information or corporate data, physical damage to a computer or network system, or costs associated with system repairs, any of which could have a substantial impact on a Fund. Cybersecurity incidents could cause a Fund, the Adviser, a Sub-Adviser, or other service provider to incur regulatory penalties, reputational damage, compliance costs associated with corrective measures, litigation costs, or financial loss. They may also result in violations of applicable privacy and other laws. In addition, such incidents could affect issuers in which a Fund invests, thereby causing the Fund's investments to lose value.
Risks Associated with Interest Rate Changes - In general, when interest rates rise, the prices of debt securities fall, and when interest rates fall, the prices of debt securities rise. The price volatility of a debt security also depends on its maturity. Longer-term securities are generally more volatile, so the longer the average maturity or duration of these securities, the greater their price risk. Duration is a measure used to determine the sensitivity of a security's price to changes in interest rates that incorporates a security's yield, coupon, final maturity, and call features, among other characteristics. The longer a fixed-income security's duration, the more sensitive it will be to changes in interest rates. Maturity, on the other hand, is the date on which a fixed-income security becomes due for payment of principal. Recent and potential future changes in government policy may affect interest rates.
Risks Associated with Health Crises - A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange trading suspensions and closures, which may lead to less liquidity in certain instruments, industries, sectors or the markets generally, and may ultimately affect Fund performance. For example, the COVID-19 pandemic resulted in significant disruptions to global business activity and market volatility due to disruptions in market access, resource availability, facilities, operations, imposition of tariffs, export controls and supply chain disruption, among others. The impact of a health crisis and other epidemics and pandemics that may arise in the future could affect the global economy in ways that cannot necessarily be foreseen at the present time. A health crisis may exacerbate other pre-existing political, social and economic risks. Any such impact could adversely affect a Fund's performance, resulting in losses to your investment.
Please see the Funds' prospectus and statement of additional information for a complete discussion of these and other risks.
48
Table of Contents
Notes to Financial Statements (Unaudited) (Continued)
10. Subsequent Events
Subsequent events occurring after the date of this report have been evaluated for potential impact to this report through the date the financial statements were issued. There were no subsequent events that necessitated recognition or disclosure in the Funds' financial statements.
49
Table of Contents
Other Items (Unaudited)
Proxy Voting Guidelines and Proxy Voting Records
The Sub-Advisers are responsible for exercising the voting rights associated with the securities purchased and held by the Funds. A description of the policies and procedures that the Sub-Advisers use in fulfilling this responsibility is available as an appendix to the most recent Statement of Additional Information, which can be obtained without charge by calling toll free 1.800.543.0407 or by visiting the Touchstone website at TouchstoneInvestments.com or on the Securities and Exchange Commission's (the "Commission") website at sec.gov. Information regarding how those proxies were voted during the most recent twelve-month period ended June 30, which will be filed by August 31 of that year, is also available without charge by calling toll free 1.800.543.0407 or on the Commission's website at sec.gov.
Quarterly Portfolio Disclosure
Each Fund's holdings as of the end of the third month of every fiscal quarter will be disclosed on Form N-PORT within 60 days of the end of the fiscal quarter. The complete listing of each Fund's portfolio holdings is available on the Commission's website and will be made available to shareholders upon request by calling 1.833.368.7383.
50
Table of Contents
This page intentionally left blank.
Table of Contents
Touchstone Investments
Investment Adviser
Touchstone Advisors, Inc.*
303 Broadway
Cincinnati, Ohio 45202-4203
303 Broadway
Cincinnati, Ohio 45202-4203
Distributor
Foreside Fund Services, LLC
Three Canal Plaza, Suite 100
Portland, Maine 04101
Three Canal Plaza, Suite 100
Portland, Maine 04101
Transfer Agent
The Bank of New York Mellon
240 Greenwich St.
New York, NY 10286
Shareholder Service
1.833.368.7383
* A Member of Western & Southern Financial Group
ETF-ETFT-SR-NCSR-2606
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.
Not applicable.
Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.
The information is included as part of the material filed under Item 7 of this Form.
Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.
Not applicable.
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, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.
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 1940 Act (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)). |
| (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 (17 CFR 270.30a-3(d))) 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.
Not Applicable.
Item 19. Exhibits.
| (a)(1) | Not applicable. |
| (a)(2) | Not applicable. |
| (a)(3) | Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
| (a)(4) | Not applicable. |
| (a)(5) | Not applicable. |
| (b) | Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
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.
(Registrant) Touchstone ETF Trust
| By (Signature and Title) | /s/ Terrie A. Wiedenheft | |
| Terrie A. Wiedenheft, President | ||
| (principal executive officer) |
Date: 8/31/2026
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 (Signature and Title) | /s/ Terrie A. Wiedenheft | |
| Terrie A. Wiedenheft, President | ||
| (principal executive officer) | ||
| Date: 8/31/2026 | ||
| By (Signature and Title) | /s/ Terri A. Lucas | |
| Terri A. Lucas, Controller and Treasurer | ||
| (principal financial officer) |
Date: 8/31/2026
Touchstone ETF Trust published this content on August 31, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on August 31, 2026 at 17:48 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]