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        <name>Medibank Pvt Ltd.</name>
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      <invstOrSec>
        <name>Subaru Corp.</name>
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      <invstOrSec>
        <name>Isuzu Motors Ltd.</name>
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        <name>H and M Hennes and Mauritz AB</name>
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        <name>Axa SA</name>
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        <name>Kone Oyj</name>
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        <name>Assicurazioni Generali S.p.A.</name>
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        <name>Swisscom AG</name>
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        <name>Randstad N.V</name>
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        <name>AGC Inc.</name>
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        <name>Koninklijke Ahold Delhaize NV</name>
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        <name>Unipol Assicurazioni S.p.A.</name>
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        <name>Honda Motor Co Ltd.</name>
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        <name>Dr Ing H C F Porsche AG</name>
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        <name>United Overseas Bank Ltd.</name>
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        <name>Diageo PLC</name>
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        <name>Ageas SA/NV</name>
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        <name>UPM-Kymmene Corporation</name>
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        <name>Evolution AB</name>
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        <name>DHL GROUP</name>
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        <name>Mizrahi Tefahot Bank Limited</name>
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        <invCountry>IL</invCountry>
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        <name>Coles Group Ltd.</name>
        <lei>549300OHQRG2HN8LZ793</lei>
        <title>Coles Group Ltd. NPV</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Woodside Energy Group Ltd.</name>
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      <invstOrSec>
        <name>Eisai Co Ltd.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Shell PLC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Unilever PLC</name>
        <lei>549300MKFYEKVRWML317</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Magnum Ice Cream Co. NV (The)</name>
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        <title>Magnum Ice Cream Co. NV (The) ORD EUR3.50 (DI)</title>
        <cusip>000000000</cusip>
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          <isin value="NL0015002MS2"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Reckitt Benckiser Group PLC</name>
        <lei>5493003JFSMOJG48V108</lei>
        <title>Reckitt Benckiser Group PLC ORD GBP0.1041666666666667</title>
        <cusip>000000000</cusip>
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          <ticker value="RKT"/>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Tesco PLC</name>
        <lei>2138002P5RNKC5W2JZ46</lei>
        <title>Tesco PLC ORD GBP0.0633333</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CK INFRASTRUCTURE HOLDINGS LTD</name>
        <lei>5299005U11RQ1C27MR12</lei>
        <title>CK Infrastructure Holdings Ltd. HKD1</title>
        <cusip>000000000</cusip>
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          <isin value="BMG2178K1009"/>
          <ticker value="1038"/>
          <other otherDesc="SEDOL" value="BYVS6J1"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>QBE Insurance Group Ltd.</name>
        <lei>549300D2FBW76FPUSG65</lei>
        <title>QBE Insurance Group Ltd. NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000QBE9"/>
          <ticker value="QBE"/>
          <other otherDesc="SEDOL" value="6715740"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Verbund AG</name>
        <lei>5299006UDSEJCTTEJS30</lei>
        <title>Verbund AG CLASS'A'NPV</title>
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          <isin value="AT0000746409"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AT</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ASX 24</name>
        <lei>549300SDXT36XYPVWI79</lei>
        <title>ASX SPI 200 Index Futures</title>
        <cusip>000000000</cusip>
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          <ticker value="APH6"/>
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        <invCountry>N/A</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Brenntag SE</name>
        <lei>NNROIXVWJ7CPSR27SV97</lei>
        <title>Brenntag SE NPV</title>
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        <invCountry>DE</invCountry>
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      <invstOrSec>
        <name>Insurance Australia Group Ltd.</name>
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        <invCountry>AU</invCountry>
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      <invstOrSec>
        <name>Kingfisher PLC</name>
        <lei>213800KBMEV7I92FY281</lei>
        <title>Kingfisher PLC ORD GBP0.157142857</title>
        <cusip>000000000</cusip>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Imperial Brands PLC</name>
        <lei>549300DFVPOB67JL3A42</lei>
        <title>Imperial Brands PLC GBP0.10</title>
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      <invstOrSec>
        <name>Wilmar International Ltd.</name>
        <lei>549300H2EAI4YRLWBB20</lei>
        <title>Wilmar International Ltd. NPV</title>
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        <invCountry>SG</invCountry>
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      <invstOrSec>
        <name>Sekisui House Ltd</name>
        <lei>529900GMNDOYQSAJAE76</lei>
        <title>Sekisui House Ltd NPV</title>
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          <isin value="JP3420600003"/>
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        <invCountry>JP</invCountry>
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      <invstOrSec>
        <name>SoftBank Corp</name>
        <lei>353800M1YCTS9JRBJ535</lei>
        <title>SoftBank Corp NPV</title>
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        <invCountry>JP</invCountry>
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        <name>TERNA - Rete Elettrica Nazionale S.p.A.</name>
        <lei>8156009E94ED54DE7C31</lei>
        <title>TERNA - Rete Elettrica Nazionale S.p.A. ORD EUR0.22</title>
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        <invCountry>IT</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Partners Group Holding AG</name>
        <lei>549300I3IVVWZWDHI788</lei>
        <title>Partners Group Holding AG CHF0.01 (REGD)</title>
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          <ticker value="PGHN"/>
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        <invCountry>CH</invCountry>
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        <name>Bank Leumi Le-Israel BM</name>
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        <fairValLevel>1</fairValLevel>
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        <name>EUREX DEUTSCHLAND</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AIB Group PLC</name>
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      <invstOrSec>
        <name>Pernod Ricard SA</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Naturgy Energy Group S.A.</name>
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        <name>Oversea-Chinese Banking Corp Ltd.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Power Assets Holdings Ltd.</name>
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        <title>Power Assets Holdings Ltd. NPV</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Gjensidige Forsikring ASA</name>
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        <name>Daiwa House Industry Co Ltd.</name>
        <lei>353800K9WXR9XRZJZI46</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Snam S.p.A.</name>
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        <name>Equinor ASA</name>
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        <name>ITALIAN DERIVATIVES MARKET</name>
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        <title>FTSE 2026, MIB Index Future Mar</title>
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        <name>Komatsu Ltd.</name>
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        <name>Zurich Insurance Group AG</name>
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        <name>Vinci SA</name>
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        <name>CLP Holdings Ltd.</name>
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        <name>Mapfre SA</name>
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        <name>ASR Nederland N.V.</name>
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        <name>Sanofi SA</name>
        <lei>549300E9PC51EN656011</lei>
        <title>Sanofi SA EUR2</title>
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      <invstOrSec>
        <name>Deutsche Lufthansa AG</name>
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      <invstOrSec>
        <name>Allianz SE</name>
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      <invstOrSec>
        <name>Schroders PLC</name>
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        <name>NESTLE' CAPITAL MARKETS SA</name>
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        <name>Henderson Land Development Co Ltd.</name>
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        <name>ICE FUTURES U.S., INC.</name>
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        <name>Finecobank Banca Fineco S.p.A.</name>
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        <name>Obayashi Corp.</name>
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        <name>Munich Reinsurance AG</name>
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        <fairValLevel>1</fairValLevel>
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        <name>DWS GOVERNMENT AND AGENCY SECURITIES PORTFOLIO DWS GOVERNMENT CASH INSTITUTIONAL SHARES</name>
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        <name>Tryg AS</name>
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        <name>Kesko Oyj</name>
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        <name>Singapore Telecommunications Ltd.</name>
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        <name>Compagnie Generale des Etablissements Michelin</name>
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        <name>MEFF FINANCIAL DERIVATIVES</name>
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        <name>Mitsui O.S.K. Lines Ltd.</name>
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        <currencyConditional curCd="EUR" exchangeRt="0.84695450"/>
        <valUSD>14762472.03000000</valUSD>
        <pctVal>0.608479237072</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OMV AG</name>
        <lei>549300V62YJ9HTLRI486</lei>
        <title>OMV AG NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AT0000743059"/>
          <ticker value="OMV"/>
          <other otherDesc="SEDOL" value="4651459"/>
        </identifiers>
        <balance>85821.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84695450"/>
        <valUSD>5552825.80000000</valUSD>
        <pctVal>0.228876247793</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Santos Ltd.</name>
        <lei>5299000RK70B5O2M7077</lei>
        <title>Santos Ltd. NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000STO6"/>
          <ticker value="STO"/>
          <other otherDesc="SEDOL" value="6776703"/>
        </identifiers>
        <balance>1892131.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.40321300"/>
        <valUSD>9115369.91000000</valUSD>
        <pctVal>0.375717110061</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Publicis Groupe SA</name>
        <lei>2138004KW8BV57III342</lei>
        <title>Publicis Groupe SA EUR0.40</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0000130577"/>
          <ticker value="PUB"/>
          <other otherDesc="SEDOL" value="4380429"/>
        </identifiers>
        <balance>134076.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84695450"/>
        <valUSD>11939262.29000000</valUSD>
        <pctVal>0.492112242086</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sino Land Co Ltd.</name>
        <lei>529900G5P51053HJVZ92</lei>
        <title>Sino Land Co Ltd. NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK0083000502"/>
          <ticker value="83"/>
          <other otherDesc="SEDOL" value="6810429"/>
        </identifiers>
        <balance>2163160.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.82215000"/>
        <valUSD>3534218.19000000</valUSD>
        <pctVal>0.145673325140</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Contact Energy Ltd</name>
        <lei>549300FT5JOXS1PZ1I32</lei>
        <title>Contact Energy Ltd NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NZCENE0001S6"/>
          <ticker value="CEN"/>
          <other otherDesc="SEDOL" value="6152529"/>
        </identifiers>
        <balance>518102.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NZD" exchangeRt="1.66652750"/>
        <valUSD>2888141.71000000</valUSD>
        <pctVal>0.119043359451</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bouygues SA</name>
        <lei>969500MOCLNQFNZN0D63</lei>
        <title>Bouygues SA EUR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0000120503"/>
          <ticker value="EN"/>
          <other otherDesc="SEDOL" value="4002121"/>
        </identifiers>
        <balance>112243.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84695450"/>
        <valUSD>6981439.07000000</valUSD>
        <pctVal>0.287760797131</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>National Grid PLC</name>
        <lei>8R95QZMKZLJX5Q2XR704</lei>
        <title>National Grid PLC ORD GBP0.12431289</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BDR05C01"/>
          <ticker value="NG/"/>
          <other otherDesc="SEDOL" value="BDR05C0"/>
        </identifiers>
        <balance>2896776.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74379800"/>
        <valUSD>54173517.76000000</valUSD>
        <pctVal>2.232922825468</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YANGZIJIANG SHIPBUILDING (HOLDINGS) LTD</name>
        <lei>254900Z3JEM14YIGLM66</lei>
        <title>Yangzijiang Shipbuilding Holdings Ltd. NPV (SGD)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1U76934819"/>
          <ticker value="YZJSGD"/>
          <other otherDesc="SEDOL" value="B1VT035"/>
        </identifiers>
        <balance>1517333.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.26485000"/>
        <valUSD>5206328.99000000</valUSD>
        <pctVal>0.214594350143</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EURONEXT PARIS MONEP</name>
        <lei>969500HMVSZ0TCV65D58</lei>
        <title>CAC 40 Index Future, Mar 2026</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FREX00692191"/>
          <ticker value="JFFCE 2603K000000F"/>
          <other otherDesc="FIGI" value="BBG01T1PYXM4"/>
        </identifiers>
        <balance>15.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84695450"/>
        <valUSD>27200.30000000</valUSD>
        <pctVal>0.001121141348</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>EURONEXT PARIS MONEP</counterpartyName>
              <counterpartyLei>969500HMVSZ0TCV65D58</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>EURONEXT</issuerName>
                <issueTitle>CAC 40</issueTitle>
                <identifiers>
                  <cusip value="000000000"/>
                  <ticker value="CAC"/>
                  <other otherDesc="INTERNAL" value="CAC_INDEX_FR"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2026-03-20</expDate>
            <notionalAmt>1494752.77000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>27200.30000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Suncorp Group Ltd.</name>
        <lei>549300BVOKRTHDIWVT46</lei>
        <title>Suncorp Group Ltd. NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000SUN6"/>
          <ticker value="SUN"/>
          <other otherDesc="SEDOL" value="6585084"/>
        </identifiers>
        <balance>631024.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.40321300"/>
        <valUSD>6579101.76000000</valUSD>
        <pctVal>0.271177267019</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Daito Trust Construction Co Ltd.</name>
        <lei>353800QQ4DRI3KXS3038</lei>
        <title>Daito Trust Construction Co Ltd. NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3486800000"/>
          <ticker value="1878"/>
          <other otherDesc="SEDOL" value="6250508"/>
        </identifiers>
        <balance>169065.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="156.12500000"/>
        <valUSD>3898376.30000000</valUSD>
        <pctVal>0.160683185852</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Novartis AG</name>
        <lei>5493007HIVTX6SY6XD66</lei>
        <title>Novartis AG CHF0.49 (REGD)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0012005267"/>
          <ticker value="NOVN"/>
          <other otherDesc="SEDOL" value="7103065"/>
        </identifiers>
        <balance>826010.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.76905000"/>
        <valUSD>140165535.40000000</valUSD>
        <pctVal>5.777339856813</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Swiss RE AG</name>
        <lei>529900PS9YW3YY29F326</lei>
        <title>Swiss RE AG CHF0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0126881561"/>
          <ticker value="SREN"/>
          <other otherDesc="SEDOL" value="B545MG5"/>
        </identifiers>
        <balance>174432.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.76905000"/>
        <valUSD>30835485.86000000</valUSD>
        <pctVal>1.270976356311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Helvetia Baloise Holding AG</name>
        <lei>529900SUJBXTORH0LT80</lei>
        <title>Helvetia Baloise Holding AG CHF0.02 (REGD) POST SUBD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0466642201"/>
          <ticker value="HBAN"/>
          <other otherDesc="SEDOL" value="BK6QWF0"/>
        </identifiers>
        <balance>46073.99640000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.76905000"/>
        <valUSD>11982054.85000000</valUSD>
        <pctVal>0.493876064853</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kuehne &amp; Nagel International AG</name>
        <lei>529900Q0YED3805QXQ66</lei>
        <title>Kuehne &amp; Nagel International AG CHF1 (REGD)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0025238863"/>
          <ticker value="KNIN"/>
          <other otherDesc="SEDOL" value="B142S60"/>
        </identifiers>
        <balance>28147.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.76905000"/>
        <valUSD>6564156.36000000</valUSD>
        <pctVal>0.270561247861</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank Hapoalim BM</name>
        <lei>B6ARUI4946ST4S7WOU88</lei>
        <title>Bank Hapoalim BM ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0006625771"/>
          <ticker value="POLI"/>
          <other otherDesc="SEDOL" value="6075808"/>
        </identifiers>
        <balance>729393.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.13535000"/>
        <valUSD>18375860.13000000</valUSD>
        <pctVal>0.757415785765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Iberdrola, S.A.</name>
        <lei>5QK37QC7NWOJ8D7WVQ45</lei>
        <title>Iberdrola, S.A. EUR0.75</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ES0144580Y14"/>
          <ticker value="IBE"/>
          <other otherDesc="SEDOL" value="B288C92"/>
        </identifiers>
        <balance>3751147.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84695450"/>
        <valUSD>88801107.20000000</valUSD>
        <pctVal>3.660202021072</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SGS SA</name>
        <lei>2138007JNS19JHNA2336</lei>
        <title>SGS SA CHF0.04 (REGD)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH1256740924"/>
          <ticker value="SGSN"/>
          <other otherDesc="SEDOL" value="BMBQHZ4"/>
        </identifiers>
        <balance>96434.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.76905000"/>
        <valUSD>12163185.75000000</valUSD>
        <pctVal>0.501341914178</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WH GROUP LTD</name>
        <lei>254900A4AYEDRWYSE928</lei>
        <title>WH Group Ltd. USD0.0001</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG960071028"/>
          <ticker value="288"/>
          <other otherDesc="SEDOL" value="BLLHKZ1"/>
        </identifiers>
        <balance>4799528.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.82215000"/>
        <valUSD>6037643.81000000</valUSD>
        <pctVal>0.248859465525</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-04-29</ncom:dateSigned>
      <ncom:nameOfApplicant>DBX ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Diane Kenneally</ncom:signature>
      <ncom:signerName>Diane Kenneally</ncom:signerName>
      <ncom:title>Treasurer and Chief Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
