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        <cusip>Y0002S109</cusip>
        <identifiers>
          <isin value="TW0002345006"/>
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        <pctVal>2.748349918655</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PetroChina Co. Ltd.</name>
        <lei>529900RPY4YG47TRSV05</lei>
        <title>PetroChina Co. Ltd., H Shares</title>
        <cusip>Y6883Q104</cusip>
        <identifiers>
          <isin value="CNE1000003W8"/>
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        <balance>1975090.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>2513479.60000000</valUSD>
        <pctVal>1.100989366733</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Zhen Ding Technology Holding Ltd.</name>
        <lei>549300H7R4K33675UP38</lei>
        <title>Zhen Ding Technology Holding Ltd.</title>
        <cusip>G98922100</cusip>
        <identifiers>
          <isin value="KYG989221000"/>
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        <balance>130821.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>1641405.62000000</valUSD>
        <pctVal>0.718991367233</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ADvTECH Ltd.</name>
        <lei>N/A</lei>
        <title>ADvTECH Ltd.</title>
        <cusip>S0065B115</cusip>
        <identifiers>
          <isin value="ZAE000031035"/>
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        <balance>960080.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="16.55125000"/>
        <valUSD>2762558.11000000</valUSD>
        <pctVal>1.210094207286</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Prologis Property Mexico, S.A. de C.V.</name>
        <lei>N/A</lei>
        <title>Prologis Property Mexico, S.A. de C.V.</title>
        <cusip>P4559M101</cusip>
        <identifiers>
          <isin value="MXCFFI170008"/>
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        <balance>304784.00000000</balance>
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        <currencyConditional curCd="MXN" exchangeRt="17.35040000"/>
        <valUSD>1366314.29000000</valUSD>
        <pctVal>0.598492028702</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Contemporary Amperex Technology Co., Ltd.</name>
        <lei>300300KINDY1K0E9I032</lei>
        <title>Contemporary Amperex Technology Co., Ltd., H Shares</title>
        <cusip>Y1R48E113</cusip>
        <identifiers>
          <isin value="CNE100006WS8"/>
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        <balance>14663.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>1160911.43000000</valUSD>
        <pctVal>0.508518605103</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="665137.53000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Vukile Property Fund Ltd.</name>
        <lei>549300BDQAETROOTKO37</lei>
        <title>Vukile Property Fund Ltd.</title>
        <cusip>S9468N170</cusip>
        <identifiers>
          <isin value="ZAE000180865"/>
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        <balance>2094531.00000000</balance>
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        <currencyConditional curCd="ZAR" exchangeRt="16.55125000"/>
        <valUSD>3199157.89000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kasikornbank PCL</name>
        <lei>5493004COSQ54937AW41</lei>
        <title>Kasikornbank PCL, NVDR</title>
        <cusip>Y4591R126</cusip>
        <identifiers>
          <isin value="TH0016010R14"/>
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        <balance>214722.00000000</balance>
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        <currencyConditional curCd="THB" exchangeRt="33.39250000"/>
        <valUSD>1566629.45000000</valUSD>
        <pctVal>0.686236867035</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kiatnakin Phatra Bank PCL</name>
        <lei>254900UPQE3MNOEDXK30</lei>
        <title>Kiatnakin Phatra Bank PCL, NVDR</title>
        <cusip>Y47675197</cusip>
        <identifiers>
          <isin value="TH0121010R12"/>
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        <balance>477644.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="33.39250000"/>
        <valUSD>1581980.90000000</valUSD>
        <pctVal>0.692961323129</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fositek Corp.</name>
        <lei>N/A</lei>
        <title>Fositek Corp.</title>
        <cusip>Y261K6105</cusip>
        <identifiers>
          <isin value="TW0006805005"/>
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        <balance>29209.00000000</balance>
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        <valUSD>1194636.51000000</valUSD>
        <pctVal>0.523291334698</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>IOI Properties Group Bhd.</name>
        <lei>N/A</lei>
        <title>IOI Properties Group Bhd.</title>
        <cusip>Y417A6104</cusip>
        <identifiers>
          <isin value="MYL5249OO007"/>
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        <balance>1296142.00000000</balance>
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        <currencyConditional curCd="MYR" exchangeRt="4.08650000"/>
        <valUSD>1201898.38000000</valUSD>
        <pctVal>0.526472280210</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Gold Circuit Electronics Ltd.</name>
        <lei>98450054BB82F5560D45</lei>
        <title>Gold Circuit Electronics Ltd.</title>
        <cusip>Y27431108</cusip>
        <identifiers>
          <isin value="TW0002368008"/>
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        <balance>76905.00000000</balance>
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        <valUSD>1843278.75000000</valUSD>
        <pctVal>0.807418649300</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hua Hong Grace Semiconductor Ltd.</name>
        <lei>529900OXH3ZYLIMGB907</lei>
        <title>Hua Hong Grace Semiconductor Ltd.</title>
        <cusip>Y372A7109</cusip>
        <identifiers>
          <isin value="HK0000218211"/>
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        <balance>103900.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>1693438.24000000</valUSD>
        <pctVal>0.741783420665</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sunway Bhd.</name>
        <lei>254900IFSF5T1D6JKU83</lei>
        <title>Sunway Bhd.</title>
        <cusip>Y8309C115</cusip>
        <identifiers>
          <isin value="MYL5211OO007"/>
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        <balance>1186792.00000000</balance>
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        <valUSD>1531269.23000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kinsus Interconnect Technology Corp.</name>
        <lei>N/A</lei>
        <title>Kinsus Interconnect Technology Corp.</title>
        <cusip>Y4804T109</cusip>
        <identifiers>
          <isin value="TW0003189007"/>
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        <balance>181000.00000000</balance>
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        <valUSD>3431962.16000000</valUSD>
        <pctVal>1.503315899278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OUTsurance Group Ltd.</name>
        <lei>984500AC307E8L2D9X52</lei>
        <title>OUTsurance Group Ltd.</title>
        <cusip>S6815J126</cusip>
        <identifiers>
          <isin value="ZAE000314084"/>
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        <balance>429059.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Elite Semiconductor Microelectronics Technology Inc.</name>
        <lei>213800SXIDCIJQJH4I42</lei>
        <title>Elite Semiconductor Microelectronics Technology Inc.</title>
        <cusip>Y2287H105</cusip>
        <identifiers>
          <isin value="TW0003006003"/>
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        <balance>230536.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Standard Bank Group</name>
        <lei>2549003PEZXUT7MDBU41</lei>
        <title>Standard Bank Group</title>
        <cusip>S80605140</cusip>
        <identifiers>
          <isin value="ZAE000109815"/>
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        <balance>74923.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Weichai Power Co., Ltd.</name>
        <lei>529900OKTPKBG85F9502</lei>
        <title>Weichai Power Co., Ltd.</title>
        <cusip>Y9531A109</cusip>
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          <isin value="CNE1000004L9"/>
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        <balance>318408.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Walsin Technology Corp.</name>
        <lei>N/A</lei>
        <title>Walsin Technology Corp.</title>
        <cusip>Y9494B102</cusip>
        <identifiers>
          <isin value="TW0002492006"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Topco Scientific Co., Ltd.</name>
        <lei>N/A</lei>
        <title>Topco Scientific Co., Ltd.</title>
        <cusip>Y8896T109</cusip>
        <identifiers>
          <isin value="TW0005434005"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Dongyue Group Ltd.</name>
        <lei>529900EJNEZTJBHCHW95</lei>
        <title>Dongyue Group Ltd.</title>
        <cusip>G2816P107</cusip>
        <identifiers>
          <isin value="KYG2816P1072"/>
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        <balance>528392.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>798095.16000000</valUSD>
        <pctVal>0.349592765662</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bizlink Holding Inc.</name>
        <lei>213800YAKRFVU5XOX138</lei>
        <title>Bizlink Holding Inc.</title>
        <cusip>G11474106</cusip>
        <identifiers>
          <isin value="KYG114741062"/>
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        <balance>53821.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>3426740.06000000</valUSD>
        <pctVal>1.501028442251</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FirstRand Ltd.</name>
        <lei>529900XYOP8CUZU7R671</lei>
        <title>FirstRand Ltd.</title>
        <cusip>S5202Z131</cusip>
        <identifiers>
          <isin value="ZAE000066304"/>
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        <balance>225095.00000000</balance>
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        <valUSD>1343756.83000000</valUSD>
        <pctVal>0.588611095672</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KPJ Healthcare Bhd.</name>
        <lei>N/A</lei>
        <title>KPJ Healthcare Bhd.</title>
        <cusip>Y4984Y100</cusip>
        <identifiers>
          <isin value="MYL5878OO003"/>
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        <balance>1902125.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.08650000"/>
        <valUSD>1443511.56000000</valUSD>
        <pctVal>0.632307052866</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COSCO SHIPPING Energy Transportation Co., Ltd.</name>
        <lei>529900IGB8FVHRCR1W95</lei>
        <title>COSCO SHIPPING Energy Transportation Co., Ltd., H Shares</title>
        <cusip>Y1765K101</cusip>
        <identifiers>
          <isin value="CNE1000002S8"/>
        </identifiers>
        <balance>641649.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>1134795.07000000</valUSD>
        <pctVal>0.497078753092</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="204193.04000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PSG Financial Services Ltd.</name>
        <lei>378900ECF3D86FD28194</lei>
        <title>PSG Financial Services Ltd.</title>
        <cusip>S6S18X104</cusip>
        <identifiers>
          <isin value="ZAE000191417"/>
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        <balance>913663.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="16.55125000"/>
        <valUSD>1859986.30000000</valUSD>
        <pctVal>0.814737123217</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Grupo Mexico, S.A.B. de C.V.</name>
        <lei>529900JWLZAYET2ZGW20</lei>
        <title>Grupo Mexico, S.A.B. de C.V., Class B</title>
        <cusip>P49538112</cusip>
        <identifiers>
          <isin value="MXP370841019"/>
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        <balance>223735.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="17.35040000"/>
        <valUSD>2678568.46000000</valUSD>
        <pctVal>1.173303890163</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Hongqiao Group Ltd.</name>
        <lei>3003009Q4IBFSDE24571</lei>
        <title>China Hongqiao Group Ltd.</title>
        <cusip>G21150100</cusip>
        <identifiers>
          <isin value="KYG211501005"/>
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        <balance>548204.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>1725189.03000000</valUSD>
        <pctVal>0.755691344236</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sanyang Motor Co., Ltd.</name>
        <lei>N/A</lei>
        <title>Sanyang Motor Co., Ltd.</title>
        <cusip>Y7525U107</cusip>
        <identifiers>
          <isin value="TW0002206000"/>
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        <balance>1050791.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>2100179.91000000</valUSD>
        <pctVal>0.919950076036</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Marketech International Corp.</name>
        <lei>2549004A0CNQ3K1DFZ53</lei>
        <title>Marketech International Corp.</title>
        <cusip>Y5845V102</cusip>
        <identifiers>
          <isin value="TW0006196009"/>
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        <balance>377492.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>5373074.12000000</valUSD>
        <pctVal>2.353588814800</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Orbia Advance Corp. S.A.B. de CV</name>
        <lei>549300MVHZ20SBIOEQ79</lei>
        <title>Orbia Advance Corp. S.A.B. de CV</title>
        <cusip>P7S81Y105</cusip>
        <identifiers>
          <isin value="MX01OR010004"/>
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        <balance>1054023.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="17.35040000"/>
        <valUSD>1484710.56000000</valUSD>
        <pctVal>0.650353613069</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Investec PLC</name>
        <lei>2138007Z3U5GWDN3MY22</lei>
        <title>Investec PLC</title>
        <cusip>G49188116</cusip>
        <identifiers>
          <isin value="GB00B17BBQ50"/>
        </identifiers>
        <balance>260178.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74308000"/>
        <valUSD>2273746.97000000</valUSD>
        <pctVal>0.995978338798</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Global Unichip Corp.</name>
        <lei>N/A</lei>
        <title>Global Unichip Corp.</title>
        <cusip>Y2724H114</cusip>
        <identifiers>
          <isin value="TW0003443008"/>
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        <balance>12000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>1374134.87000000</valUSD>
        <pctVal>0.601917708155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Delta Electronics, Inc.</name>
        <lei>529900UVZWNWGDLJSM52</lei>
        <title>Delta Electronics, Inc.</title>
        <cusip>Y20263102</cusip>
        <identifiers>
          <isin value="TW0002308004"/>
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        <balance>39773.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>1956736.74000000</valUSD>
        <pctVal>0.857117099433</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Powerchip Semiconductor Manufacturing Corp.</name>
        <lei>529900VFH8M98IALG693</lei>
        <title>Powerchip Semiconductor Manufacturing Corp.</title>
        <cusip>Y708P9104</cusip>
        <identifiers>
          <isin value="TW0006770001"/>
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        <balance>873875.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>1429232.88000000</valUSD>
        <pctVal>0.626052506439</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ase Technology Holding Co., Ltd.</name>
        <lei>300300GO8QHPMV87NZ73</lei>
        <title>Ase Technology Holding Co., Ltd.</title>
        <cusip>Y0249T100</cusip>
        <identifiers>
          <isin value="TW0003711008"/>
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        <balance>202056.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>3447986.20000000</valUSD>
        <pctVal>1.510334972618</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Transcend Information, Inc.</name>
        <lei>N/A</lei>
        <title>Transcend Information, Inc.</title>
        <cusip>Y8968F102</cusip>
        <identifiers>
          <isin value="TW0002451002"/>
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        <balance>177224.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>1573912.94000000</valUSD>
        <pctVal>0.689427282840</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Discovery Ltd.</name>
        <lei>378900245A26169C8132</lei>
        <title>Discovery Ltd.</title>
        <cusip>S2192Y109</cusip>
        <identifiers>
          <isin value="ZAE000022331"/>
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        <balance>75961.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="16.55125000"/>
        <valUSD>1205885.68000000</valUSD>
        <pctVal>0.528218852930</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cia de Saneamento Basico do Estado de Sao Paulo - SABESP</name>
        <lei>254900UOXRZRS2TNWP19</lei>
        <title>Cia de Saneamento Basico do Estado de Sao Paulo - SABESP</title>
        <cusip>P2R268136</cusip>
        <identifiers>
          <isin value="BRSBSPACNOR5"/>
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        <balance>336469.00000000</balance>
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        <currencyConditional curCd="BRL" exchangeRt="5.08065000"/>
        <valUSD>1834448.60000000</valUSD>
        <pctVal>0.803550743924</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chroma ATE Inc.</name>
        <lei>N/A</lei>
        <title>Chroma ATE Inc.</title>
        <cusip>Y1604M102</cusip>
        <identifiers>
          <isin value="TW0002360005"/>
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        <balance>77900.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Capitec Bank Holdings Ltd.</name>
        <lei>N/A</lei>
        <title>Capitec Bank Holdings Ltd.</title>
        <cusip>S15445109</cusip>
        <identifiers>
          <isin value="ZAE000035861"/>
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        <balance>4832.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="16.55125000"/>
        <valUSD>1377204.59000000</valUSD>
        <pctVal>0.603262349694</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Magyar Telekom Tavkozlesi Nyilvanosan Mukodo Reszvenytarsasag</name>
        <lei>529900CA1YDA41X76751</lei>
        <title>Magyar Telekom Tavkozlesi Nyilvanosan Mukodo Reszvenytarsasag</title>
        <cusip>X5187V109</cusip>
        <identifiers>
          <isin value="HU0000073507"/>
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        <balance>500094.00000000</balance>
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        <currencyConditional curCd="HUF" exchangeRt="316.89195000"/>
        <valUSD>4328404.62000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Jentech Precision Industrial Co., Ltd.</name>
        <lei>N/A</lei>
        <title>Jentech Precision Industrial Co., Ltd.</title>
        <cusip>Y4432G115</cusip>
        <identifiers>
          <isin value="TW0003653002"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Astor Transformator Enerji Turizm Insaat Ve Petrol Sanayi Ticaret A.S.</name>
        <lei>N/A</lei>
        <title>Astor Transformator Enerji Turizm Insaat Ve Petrol Sanayi Ticaret A.S.</title>
        <cusip>M1505L115</cusip>
        <identifiers>
          <isin value="TREASTR00013"/>
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        <balance>224302.00000000</balance>
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        <currencyConditional curCd="TRY" exchangeRt="47.52475000"/>
        <valUSD>1394214.72000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>President Securities Corp.</name>
        <lei>2549003O85RNZ1LL3Y88</lei>
        <title>President Securities Corp.</title>
        <cusip>Y7083F104</cusip>
        <identifiers>
          <isin value="TW0002855004"/>
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        <balance>1429907.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>1899390.03000000</valUSD>
        <pctVal>0.831997294232</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nan Ya Printed Circuit Board Corp.</name>
        <lei>N/A</lei>
        <title>Nan Ya Printed Circuit Board Corp.</title>
        <cusip>Y6205K108</cusip>
        <identifiers>
          <isin value="TW0008046004"/>
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        <balance>140771.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>3875850.61000000</valUSD>
        <pctVal>1.697754104969</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fibra Uno Administracion, S.A. de C.V.</name>
        <lei>N/A</lei>
        <title>Fibra Uno Administracion, S.A. de C.V.</title>
        <cusip>P3515D163</cusip>
        <identifiers>
          <isin value="MXCFFU000001"/>
        </identifiers>
        <balance>800388.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="17.35040000"/>
        <valUSD>1438819.95000000</valUSD>
        <pctVal>0.630251968463</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="71429.08000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KCE Electronics PCL</name>
        <lei>529900LNPH5MFQ9L6T25</lei>
        <title>KCE Electronics PCL, NVDR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TH0122010R10"/>
        </identifiers>
        <balance>1152275.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="33.39250000"/>
        <valUSD>1434134.53000000</valUSD>
        <pctVal>0.628199595491</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wanguo Gold Group Ltd.</name>
        <lei>984500A4815DA9DE4623</lei>
        <title>Wanguo Gold Group Ltd.</title>
        <cusip>G9430L115</cusip>
        <identifiers>
          <isin value="KYG9430L1150"/>
        </identifiers>
        <balance>4673770.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>6287990.24000000</valUSD>
        <pctVal>2.754353125588</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="5412720.05000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Credicorp Ltd.</name>
        <lei>529900UYAEYQCQ2BKB17</lei>
        <title>Credicorp Ltd.</title>
        <cusip>G2519Y108</cusip>
        <identifiers>
          <isin value="BMG2519Y1084"/>
        </identifiers>
        <balance>4867.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1949622.86000000</valUSD>
        <pctVal>0.854000978563</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OTP Bank PLC</name>
        <lei>529900W3MOO00A18X956</lei>
        <title>OTP Bank PLC</title>
        <cusip>X60746181</cusip>
        <identifiers>
          <isin value="HU0000061726"/>
        </identifiers>
        <balance>16862.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HUF" exchangeRt="316.89195000"/>
        <valUSD>2494045.20000000</valUSD>
        <pctVal>1.092476439972</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Unimicron Technology Corp.</name>
        <lei>529900552WPFHC1YI579</lei>
        <title>Unimicron Technology Corp.</title>
        <cusip>Y90668107</cusip>
        <identifiers>
          <isin value="TW0003037008"/>
        </identifiers>
        <balance>149331.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>3503750.03000000</valUSD>
        <pctVal>1.534761422659</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Resilient REIT Ltd.</name>
        <lei>378900F37FF47D486C58</lei>
        <title>Resilient REIT Ltd.</title>
        <cusip>S6990F105</cusip>
        <identifiers>
          <isin value="ZAE000209557"/>
        </identifiers>
        <balance>279364.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="16.55125000"/>
        <valUSD>1405892.35000000</valUSD>
        <pctVal>0.615828562174</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="740071.31000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Invesco Private Prime Fund</name>
        <lei>N/A</lei>
        <title>Invesco Private Prime Fund</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="CADIS_ID" value="2487474"/>
        </identifiers>
        <balance>7425607.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7426349.56070000</valUSD>
        <pctVal>3.252993141450</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="7426349.56070000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SinoPac Financial Holdings Co., Ltd.</name>
        <lei>N/A</lei>
        <title>SinoPac Financial Holdings Co., Ltd.</title>
        <cusip>Y8009U100</cusip>
        <identifiers>
          <isin value="TW0002890001"/>
        </identifiers>
        <balance>1981374.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>2471050.18000000</valUSD>
        <pctVal>1.082403840812</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TS Financial Holding Co., Ltd.</name>
        <lei>254900NDEO99JV07HK17</lei>
        <title>TS Financial Holding Co., Ltd.</title>
        <cusip>Y84086100</cusip>
        <identifiers>
          <isin value="TW0002887007"/>
        </identifiers>
        <balance>1934719.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>2130327.96000000</valUSD>
        <pctVal>0.933155945094</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tripod Technology Corp.</name>
        <lei>N/A</lei>
        <title>Tripod Technology Corp.</title>
        <cusip>Y8974X105</cusip>
        <identifiers>
          <isin value="TW0003044004"/>
        </identifiers>
        <balance>274427.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>3081277.99000000</valUSD>
        <pctVal>1.349704331373</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fubon Financial Holding Co., Ltd.</name>
        <lei>549300G7Y2TS2XNIB476</lei>
        <title>Fubon Financial Holding Co., Ltd.</title>
        <cusip>Y26528102</cusip>
        <identifiers>
          <isin value="TW0002881000"/>
        </identifiers>
        <balance>339855.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>1354652.38000000</valUSD>
        <pctVal>0.593383716342</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lenovo Group Ltd.</name>
        <lei>254900VUZRGD5U73RE46</lei>
        <title>Lenovo Group Ltd.</title>
        <cusip>Y5257Y107</cusip>
        <identifiers>
          <isin value="HK0992009065"/>
        </identifiers>
        <balance>463937.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>1418953.53000000</valUSD>
        <pctVal>0.621549802281</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chenbro Micom Co., Ltd.</name>
        <lei>N/A</lei>
        <title>Chenbro Micom Co., Ltd.</title>
        <cusip>Y1306B107</cusip>
        <identifiers>
          <isin value="TW0008210006"/>
        </identifiers>
        <balance>53596.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>1703123.31000000</valUSD>
        <pctVal>0.746025810014</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>King Slide Works Co., Ltd.</name>
        <lei>N/A</lei>
        <title>King Slide Works Co., Ltd.</title>
        <cusip>Y4771C113</cusip>
        <identifiers>
          <isin value="TW0002059003"/>
        </identifiers>
        <balance>11500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>2755648.36000000</valUSD>
        <pctVal>1.207067502284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>King Yuan Electronics Co., Ltd.</name>
        <lei>N/A</lei>
        <title>King Yuan Electronics Co., Ltd.</title>
        <cusip>Y4801V107</cusip>
        <identifiers>
          <isin value="TW0002449006"/>
        </identifiers>
        <balance>165268.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>1116249.56000000</valUSD>
        <pctVal>0.488955190318</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cathay Financial Holding Co., Ltd.</name>
        <lei>5299009XR1QLFAMQ3X77</lei>
        <title>Cathay Financial Holding Co., Ltd.</title>
        <cusip>Y11654103</cusip>
        <identifiers>
          <isin value="TW0002882008"/>
        </identifiers>
        <balance>367747.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>1144531.78000000</valUSD>
        <pctVal>0.501343762514</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ITEQ Corp.</name>
        <lei>N/A</lei>
        <title>ITEQ Corp.</title>
        <cusip>Y4212E108</cusip>
        <identifiers>
          <isin value="TW0006213002"/>
        </identifiers>
        <balance>218995.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>1747374.03000000</valUSD>
        <pctVal>0.765409127146</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WNC Corp.</name>
        <lei>N/A</lei>
        <title>WNC Corp.</title>
        <cusip>Y96739100</cusip>
        <identifiers>
          <isin value="TW0006285000"/>
        </identifiers>
        <balance>158988.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>1065563.24000000</valUSD>
        <pctVal>0.466752861977</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Porto Seguro S.A.</name>
        <lei>N/A</lei>
        <title>Porto Seguro S.A.</title>
        <cusip>P7905C107</cusip>
        <identifiers>
          <isin value="BRPSSAACNOR7"/>
        </identifiers>
        <balance>138897.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="5.08065000"/>
        <valUSD>1495412.18000000</valUSD>
        <pctVal>0.655041285818</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AP Memory Technology Corp.</name>
        <lei>529900A63PT4N736VY17</lei>
        <title>AP Memory Technology Corp.</title>
        <cusip>Y0178L102</cusip>
        <identifiers>
          <isin value="TW0006531007"/>
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        <balance>54431.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>1092301.71000000</valUSD>
        <pctVal>0.478465219281</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Scientech Corp.</name>
        <lei>N/A</lei>
        <title>Scientech Corp.</title>
        <cusip>Y7T40T113</cusip>
        <identifiers>
          <isin value="TW0003583001"/>
        </identifiers>
        <balance>54022.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>1061840.18000000</valUSD>
        <pctVal>0.465122035345</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCG Packaging PCL</name>
        <lei>254900GZ121E5NIATI41</lei>
        <title>SCG Packaging PCL, NVDR</title>
        <cusip>Y81322169</cusip>
        <identifiers>
          <isin value="TH0098010R12"/>
        </identifiers>
        <balance>1711479.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="33.39250000"/>
        <valUSD>1553496.66000000</valUSD>
        <pctVal>0.680484259317</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zijin Mining Group Co. Ltd.</name>
        <lei>836800JRNL2393Z2I561</lei>
        <title>Zijin Mining Group Co. Ltd., H Shares</title>
        <cusip>Y9892H107</cusip>
        <identifiers>
          <isin value="CNE100000502"/>
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        <balance>1117235.00000000</balance>
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        <valUSD>4744244.05000000</valUSD>
        <pctVal>2.078139903040</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WuXi AppTec Co., Ltd.</name>
        <lei>254900OEPQLZSPLN9175</lei>
        <title>WuXi AppTec Co., Ltd.</title>
        <cusip>Y971B1118</cusip>
        <identifiers>
          <isin value="CNE100003F19"/>
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        <balance>96493.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>1979007.50000000</valUSD>
        <pctVal>0.866872448133</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Taiwan Glass Industry Corp.</name>
        <lei>N/A</lei>
        <title>Taiwan Glass Industry Corp.</title>
        <cusip>Y8420M109</cusip>
        <identifiers>
          <isin value="TW0001802007"/>
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        <balance>816811.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>1128768.84000000</valUSD>
        <pctVal>0.494439059835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GCC, S.A.B. de C.V.</name>
        <lei>254900WY9XL8033CKX68</lei>
        <title>GCC, S.A.B. de C.V.</title>
        <cusip>P4948S124</cusip>
        <identifiers>
          <isin value="MX01GC2M0006"/>
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        <balance>114542.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="17.35040000"/>
        <valUSD>1317433.69000000</valUSD>
        <pctVal>0.577080667002</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Nan Ya Plastics Corp.</name>
        <lei>254900L66RP14M9UOM28</lei>
        <title>Nan Ya Plastics Corp.</title>
        <cusip>Y62061109</cusip>
        <identifiers>
          <isin value="TW0001303006"/>
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        <balance>430318.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>2044584.20000000</valUSD>
        <pctVal>0.895597268261</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>I-Chiun Precision Industry Co., Ltd.</name>
        <lei>N/A</lei>
        <title>I-Chiun Precision Industry Co., Ltd.</title>
        <cusip>Y3857Q103</cusip>
        <identifiers>
          <isin value="TW0002486008"/>
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        <balance>190624.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>1079989.37000000</valUSD>
        <pctVal>0.473071996508</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Legend Holdings Corp.</name>
        <lei>5299003ONUYCE70HZ185</lei>
        <title>Legend Holdings Corp., H Shares</title>
        <cusip>Y52237107</cusip>
        <identifiers>
          <isin value="CNE100001ZT0"/>
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        <balance>641513.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>1074079.09000000</valUSD>
        <pctVal>0.470483093286</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sinotruk (Hong Kong) Ltd.</name>
        <lei>529900BB4WA4W576X724</lei>
        <title>Sinotruk (Hong Kong) Ltd.</title>
        <cusip>Y8014Z102</cusip>
        <identifiers>
          <isin value="HK3808041546"/>
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        <balance>352805.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>1828786.11000000</valUSD>
        <pctVal>0.801070381132</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Supreme Electronics Co., Ltd.</name>
        <lei>N/A</lei>
        <title>Supreme Electronics Co., Ltd.</title>
        <cusip>Y83133101</cusip>
        <identifiers>
          <isin value="TW0008112004"/>
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        <balance>1604500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>3925674.23000000</valUSD>
        <pctVal>1.719578541432</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kinik Co.</name>
        <lei>N/A</lei>
        <title>Kinik Co.</title>
        <cusip>Y4789C113</cusip>
        <identifiers>
          <isin value="TW0001560001"/>
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        <balance>65821.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>1280537.65000000</valUSD>
        <pctVal>0.560918949313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>International Container Terminal Services, Inc.</name>
        <lei>254900FU1MWK0I0Q4J61</lei>
        <title>International Container Terminal Services, Inc.</title>
        <cusip>Y41157101</cusip>
        <identifiers>
          <isin value="PHY411571011"/>
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        <balance>231225.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="61.22000000"/>
        <valUSD>3631053.15000000</valUSD>
        <pctVal>1.590524509605</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Invesco Private Government Fund</name>
        <lei>N/A</lei>
        <title>Invesco Private Government Fund</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="CADIS_ID" value="2442116"/>
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        <balance>2857131.57000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2857131.57000000</valUSD>
        <pctVal>1.251520592380</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="2857131.57000000" isCashCollateral="Y"/>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MTN Group Ltd.</name>
        <lei>2549009JD6Q6XHZS5E05</lei>
        <title>MTN Group Ltd.</title>
        <cusip>S8039R108</cusip>
        <identifiers>
          <isin value="ZAE000042164"/>
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        <balance>98786.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="16.55125000"/>
        <valUSD>1222436.91000000</valUSD>
        <pctVal>0.535468853382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Yankey Engineering Co., Ltd.</name>
        <lei>N/A</lei>
        <title>Yankey Engineering Co., Ltd.</title>
        <cusip>Y973A5108</cusip>
        <identifiers>
          <isin value="TW0006691009"/>
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        <balance>257000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>5115756.48000000</valUSD>
        <pctVal>2.240874955689</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Marcopolo S.A.</name>
        <lei>254900XL58LF2D2QUX37</lei>
        <title>Marcopolo S.A., Preference Shares</title>
        <cusip>P64331112</cusip>
        <identifiers>
          <isin value="BRPOMOACNPR7"/>
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        <balance>0.50000000</balance>
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        <currencyConditional curCd="BRL" exchangeRt="5.08065000"/>
        <valUSD>0.52000000</valUSD>
        <pctVal>0.000000227777</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CTBC Financial Holding Co., Ltd.</name>
        <lei>549300IWDYIFW6JXM387</lei>
        <title>CTBC Financial Holding Co., Ltd.</title>
        <cusip>Y15093100</cusip>
        <identifiers>
          <isin value="TW0002891009"/>
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        <balance>721343.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>1439753.85000000</valUSD>
        <pctVal>0.630661048358</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ASELSAN Elektronik Sanayi ve Ticaret A.S.</name>
        <lei>7890008XT4M710MU8714</lei>
        <title>ASELSAN Elektronik Sanayi ve Ticaret A.S.</title>
        <cusip>M1501H100</cusip>
        <identifiers>
          <isin value="TRAASELS91H2"/>
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        <balance>495603.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="47.52475000"/>
        <valUSD>3569911.96000000</valUSD>
        <pctVal>1.563742593389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Krung Thai Bank PCL</name>
        <lei>54930007ZQMYCRFQGE36</lei>
        <title>Krung Thai Bank PCL, NVDR</title>
        <cusip>Y49885174</cusip>
        <identifiers>
          <isin value="TH0150010R11"/>
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        <balance>1615093.00000000</balance>
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        <currencyConditional curCd="THB" exchangeRt="33.39250000"/>
        <valUSD>2133532.94000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hua Nan Financial Holdings Co., Ltd.</name>
        <lei>N/A</lei>
        <title>Hua Nan Financial Holdings Co., Ltd.</title>
        <cusip>Y3813L107</cusip>
        <identifiers>
          <isin value="TW0002880002"/>
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        <balance>1192170.00000000</balance>
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        <valUSD>1601333.71000000</valUSD>
        <pctVal>0.701438510701</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Thanachart Capital PCL</name>
        <lei>529900VNNYCFS81B3436</lei>
        <title>Thanachart Capital PCL, NVDR</title>
        <cusip>Y8738D221</cusip>
        <identifiers>
          <isin value="TH0083010R14"/>
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        <balance>768872.00000000</balance>
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        <currencyConditional curCd="THB" exchangeRt="33.39250000"/>
        <valUSD>1794462.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sigurd Microelectronics Corp.</name>
        <lei>N/A</lei>
        <title>Sigurd Microelectronics Corp.</title>
        <cusip>Y79355106</cusip>
        <identifiers>
          <isin value="TW0006257009"/>
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        <balance>879000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WinWay Technology Co., Ltd.</name>
        <lei>N/A</lei>
        <title>WinWay Technology Co., Ltd.</title>
        <cusip>Y96657112</cusip>
        <identifiers>
          <isin value="TW0006515000"/>
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        <balance>14700.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>2580172.52000000</valUSD>
        <pctVal>1.130203129103</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mega Union Technology Inc.</name>
        <lei>N/A</lei>
        <title>Mega Union Technology Inc.</title>
        <cusip>Y593AH108</cusip>
        <identifiers>
          <isin value="TW0006944002"/>
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        <balance>148423.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>3270432.52000000</valUSD>
        <pctVal>1.432560434999</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Dongfang Electric Corp. Ltd.</name>
        <lei>529900ISAW6T566F0R12</lei>
        <title>Dongfang Electric Corp. Ltd.</title>
        <cusip>Y20958107</cusip>
        <identifiers>
          <isin value="CNE100000304"/>
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        <balance>432036.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>1184329.32000000</valUSD>
        <pctVal>0.518776435675</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>First Financial Holding Co., Ltd.</name>
        <lei>529900BC1U046Q2GUZ64</lei>
        <title>First Financial Holding Co., Ltd.</title>
        <cusip>Y2518F100</cusip>
        <identifiers>
          <isin value="TW0002892007"/>
        </identifiers>
        <balance>1331817.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>1513023.69000000</valUSD>
        <pctVal>0.662755724894</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Taiwan Semiconductor Manufacturing Co. Ltd.</name>
        <lei>549300KB6NK5SBD14S87</lei>
        <title>Taiwan Semiconductor Manufacturing Co. Ltd.</title>
        <cusip>Y84629107</cusip>
        <identifiers>
          <isin value="TW0002330008"/>
        </identifiers>
        <balance>93000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>6878770.69000000</valUSD>
        <pctVal>3.013135012469</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CMOC Group Ltd.</name>
        <lei>2549008KG3638J59U652</lei>
        <title>CMOC Group Ltd., H Shares</title>
        <cusip>Y1503Z105</cusip>
        <identifiers>
          <isin value="CNE100000114"/>
        </identifiers>
        <balance>561526.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>1210339.37000000</valUSD>
        <pctVal>0.530169720298</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Taichung Commercial Bank Co. Ltd.</name>
        <lei>549300VNYOLU68FQNE06</lei>
        <title>Taichung Commercial Bank Co. Ltd.</title>
        <cusip>Y8371H109</cusip>
        <identifiers>
          <isin value="TW0002812005"/>
        </identifiers>
        <balance>2524697.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.31900000"/>
        <valUSD>1597067.83000000</valUSD>
        <pctVal>0.699569910486</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-08-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Invesco Exchange-Traded Fund Trust II</ncom:nameOfApplicant>
      <ncom:signature>Adrien Deberghes</ncom:signature>
      <ncom:signerName>Adrien Deberghes</ncom:signerName>
      <ncom:title>Vice President</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
