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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Lexinfintech Hldgs Ltd</name>
        <lei>549300F9QU71NQ28CS19</lei>
        <title>LexinFintech Holdings Ltd. </title>
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          <isin value="US5288771034"/>
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        <balance>4532.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>35576.20000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NetEase Inc.</name>
        <lei>5299004AF4DSJDB0PA32</lei>
        <title>NetEase, Inc. - ADR </title>
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          <isin value="US64110W1027"/>
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        <balance>8055.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>862368.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>UMB FINANCIAL CORP. B 4.1 , 5/01/2025</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Dummy ID" value="UMB25501"/>
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        <balance>503000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>503000.00000000</valUSD>
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        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="549300MGEH3N3CUCV828" name="UMB FINANCIAL CORP."/>
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            <repurchaseCollateral>
              <principalAmt>492518.66000000</principalAmt>
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              <invstCat>UST</invstCat>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
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      <invstOrSec>
        <name>ZTO Express (Cayman) Inc.</name>
        <lei>549300SCJPK3YZJTJR78</lei>
        <title>ZTO Express Cayman, Inc. </title>
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          <isin value="US98980A1051"/>
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        <balance>16079.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>297461.50000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Agora Inc.</name>
        <lei>5493001S8SBPD13GC964</lei>
        <title>Agora, Inc. </title>
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          <isin value="US00851L1035"/>
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        <balance>3212.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10535.36000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Structure Therapeutics Inc</name>
        <lei>N/A</lei>
        <title>Structure Therapeutics Inc </title>
        <cusip>86366E106</cusip>
        <identifiers>
          <isin value="US86366E1064"/>
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        <balance>2191.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>59157.00000000</valUSD>
        <pctVal>0.288648104887</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="51845.91000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Autohome Inc.</name>
        <lei>529900NYB6ZGZN3MVT56</lei>
        <title>Autohome, Inc. ADR </title>
        <cusip>05278C107</cusip>
        <identifiers>
          <isin value="US05278C1071"/>
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        <balance>2892.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>78893.76000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>iQIYI Inc.</name>
        <lei>222100XL8T2Q5B8MS302</lei>
        <title>iQIYI, Inc. </title>
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        <identifiers>
          <isin value="US46267X1081"/>
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        <balance>19492.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35865.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="233.12000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOCIETE' GENERALE  4.23 , 5/01/2025</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Dummy ID" value="SOC25501"/>
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        <balance>1751000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1751000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="5493004I6N8OONF6V179" name="SOCIETE' GENERALE"/>
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            <repurchaseCollateral>
              <principalAmt>1860800.00000000</principalAmt>
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              <collateralVal>1786170.38000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Daqo New Energy Corp.</name>
        <lei>529900711JBZ5O7VA827</lei>
        <title>Daqo New Energy Corp </title>
        <cusip>23703Q203</cusip>
        <identifiers>
          <isin value="US23703Q2030"/>
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        <balance>2028.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25836.72000000</valUSD>
        <pctVal>0.126066573093</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PDD Holdings Inc.</name>
        <lei>5493000573DS7005T657</lei>
        <title>Pinduoduo, Inc. </title>
        <cusip>722304102</cusip>
        <identifiers>
          <isin value="US7223041028"/>
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        <balance>23885.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2521539.45000000</valUSD>
        <pctVal>12.30349043464</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JOYY Inc.</name>
        <lei>549300N6CHVU5CQZPW24</lei>
        <title>Joyy Inc </title>
        <cusip>46591M109</cusip>
        <identifiers>
          <isin value="US46591M1099"/>
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        <balance>1480.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>60916.80000000</valUSD>
        <pctVal>0.297234796825</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FinVolution Group</name>
        <lei>3003000RAVUT809U6P08</lei>
        <title>FinVolution Group </title>
        <cusip>31810T101</cusip>
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          <isin value="US31810T1016"/>
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        <balance>6152.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>48662.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ZEEKR Intelligent Technology Holding Limited</name>
        <lei>N/A</lei>
        <title>ZEEKR Intelligent Technology Holding Ltd. </title>
        <cusip>98923K103</cusip>
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          <isin value="US98923K1034"/>
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        <balance>848.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18232.00000000</valUSD>
        <pctVal>0.088960431534</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NIO Inc.</name>
        <lei>549300JBU4TV5OCKJV96</lei>
        <title>NIO Inc </title>
        <cusip>62914V106</cusip>
        <identifiers>
          <isin value="US62914V1061"/>
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        <balance>73986.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>299643.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="305131.59999999"/>
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      <invstOrSec>
        <name>Li Auto Inc.</name>
        <lei>2549003R73Q70J5H4I65</lei>
        <title>Li Auto Inc </title>
        <cusip>50202M102</cusip>
        <identifiers>
          <isin value="US50202M1027"/>
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        <balance>28415.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>693041.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hello Group Inc</name>
        <lei>549300YMGLID32W48529</lei>
        <title>Hello Group Inc </title>
        <cusip>423403104</cusip>
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          <isin value="US4234031049"/>
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        <balance>5148.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JD.com Inc.</name>
        <lei>549300HVTWB0GJZ16V92</lei>
        <title>JD.com, Inc. </title>
        <cusip>47215P106</cusip>
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          <isin value="US47215P1066"/>
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        <balance>46525.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1517645.50000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>UGPIX_BKTCN_GOLDMAN</title>
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          <other otherDesc="Dummy ID" value="1101GSWPS"/>
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        <balance>-125.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-60.06000000</valUSD>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="Total Return Swap" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>GOLDMAN SACHS GROUP, INC.</counterpartyName>
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                <indexName>S&amp;P CHINA SELECT ADR INDEX (USD)</indexName>
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      <invstOrSec>
        <name>Canaan Inc</name>
        <lei>254900OEOGK9ALNMUN24</lei>
        <title>Canaan, Inc. </title>
        <cusip>134748102</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Rlx Technology Inc</name>
        <lei>984500EG5DBB2F7F4002</lei>
        <title>RLX Technology Inc </title>
        <cusip>74969N103</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Alibaba Group Holding Ltd.</name>
        <lei>5493001NTNQJDH60PM02</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Oriental Education &amp;  Technology Group Inc.</name>
        <lei>529900NHZVBZQZ8EKN29</lei>
        <title>New Oriental Education &amp; Technology Group Inc </title>
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          <isin value="US6475812060"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Zai Lab Ltd.</name>
        <lei>549300P2UYQ9U5LY1T58</lei>
        <title>Zai Lab Ltd </title>
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          <isin value="US98887Q1040"/>
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        <assetCat>EC</assetCat>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>H World Group Ltd.</name>
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        <title>Nuazhu Group Ltd. </title>
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        <assetCat>EC</assetCat>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>UGPIX_BKTCN_UBS</title>
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          <other otherDesc="Dummy ID" value="1101USWPL"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>Ehang Holdings Limited</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Legend Biotech Corporation</name>
        <lei>254900EIUFZTW136H859</lei>
        <title>Legend Biotech Corp </title>
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          <isin value="US52490G1022"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>N/A</name>
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        <title>CREDIT AGRICOLE CIB NY  4.24 , 5/01/2025</title>
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          <other otherDesc="Dummy ID" value="CRA25501"/>
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        <balance>628000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>628000.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
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      <invstOrSec>
        <name>MINISO Group Holding Ltd.</name>
        <lei>2549006PIKT2YKNBL092</lei>
        <title>MINISO Group Holding Ltd </title>
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          <isin value="US66981J1025"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>AGPXX</name>
        <lei>N/A</lei>
        <title>Invesco Government &amp; Agency Portfolio</title>
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          <isin value="US8252528851"/>
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        <valUSD>725198.00000000</valUSD>
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        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="725198.00000000" isCashCollateral="Y"/>
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        <name>KE Holdings Inc.</name>
        <lei>254900RHVY072XPAZE03</lei>
        <title>KE Holdings Inc </title>
        <cusip>482497104</cusip>
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          <isin value="US4824971042"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>624529.50000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tencent Music Entertainment Group</name>
        <lei>213800XTZK2GOHQTYK41</lei>
        <title>Tencent Music Entertainment Group </title>
        <cusip>88034P109</cusip>
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          <isin value="US88034P1093"/>
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        <curCd>USD</curCd>
        <valUSD>377585.12000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Baidu Inc.</name>
        <lei>254900AL64IANZYI1E02</lei>
        <title>Baidu, Inc. </title>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>ROYAL BANK OF CANADA  4.15 , 5/01/2025</title>
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        <curCd>USD</curCd>
        <valUSD>452000.00000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Hesai Group</name>
        <lei>836800KOYHURQT1JZY11</lei>
        <title>Hesai Group </title>
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      <invstOrSec>
        <name>Bilibili Inc.</name>
        <lei>5493008V60M52L3PIS45</lei>
        <title>Bilibili Inc </title>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>VNET Group Inc.</name>
        <lei>529900672GYJQ3T38I58</lei>
        <title>21VIANET GROUP INC-ADR </title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Lufax Holding Ltd.</name>
        <lei>254900TYH7RTK8E9NH16</lei>
        <title>Lufax Holding Ltd </title>
        <cusip>54975P201</cusip>
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          <isin value="US54975P2011"/>
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        <balance>20946.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>60743.40000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Up Fintech Holding Ltd.</name>
        <lei>213800JJDNMAG3L84P54</lei>
        <title>Up Fintech Holding Ltd </title>
        <cusip>91531W106</cusip>
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        <balance>4347.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>35862.75000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TAL Education Group</name>
        <lei>5493003PJZS0EC085V72</lei>
        <title>TAL Education Group </title>
        <cusip>874080104</cusip>
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          <isin value="US8740801043"/>
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        <balance>24136.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>211190.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Trip.com Group Ltd.</name>
        <lei>2549004RMYDSRQL4KW41</lei>
        <title>Trip.com Group Ltd. </title>
        <cusip>89677Q107</cusip>
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          <isin value="US89677Q1076"/>
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        <balance>13710.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>808752.90000000</valUSD>
        <pctVal>3.946193889270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>UltraChina ProFund</ncom:nameOfApplicant>
      <ncom:signature>Rebecca Colvin </ncom:signature>
      <ncom:signerName>Rebecca Colvin </ncom:signerName>
      <ncom:title>Treasurer and Principal Financial Officer </ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
