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    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>

      <filer>
        <issuerCredentials>
          <cik>0001592900</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>


      <seriesClassInfo>
        <seriesId>S000065423</seriesId>
        <classId>C000211567</classId>
      </seriesClassInfo>


    </filerInfo>
  </headerData>
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    <genInfo>
      <regName>Alpha Architect ETF Trust</regName>
      <regFileNumber>811-22961</regFileNumber>
      <regCik>0001592900</regCik>
      <regLei>5493004OW9VWINAYRX18</regLei>
      <regStreet1>213 Foxcroft Road</regStreet1>
      <regCity>Broomall</regCity>
      <regStateConditional regCountry="US" regState="US-PA"/>
      <regZipOrPostalCode>PA</regZipOrPostalCode>
      <regPhone>2158829983</regPhone>
      <seriesName>Freedom 100 Emerging Markets ETF</seriesName>
      <seriesId>S000065423</seriesId>
      <seriesLei>549300WUYOZ027YGQK87</seriesLei>
      <repPdEnd>2020-09-30</repPdEnd>
      <repPdDate>2020-03-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>12538575.53</totAssets>
      <totLiabs>16366.95</totLiabs>
      <netAssets>12522208.58</netAssets>
      <assetsAttrMiscSec>0</assetsAttrMiscSec>
      <assetsInvested>0</assetsInvested>
      <amtPayOneYrBanksBorr>0</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0</amtPayAftOneYrOther>
      <delayDeliv>0</delayDeliv>
      <standByCommit>0</standByCommit>
      <liquidPref>0</liquidPref>
      <cshNotRptdInCorD>928.55</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000211567" rtn1="-5.43" rtn2="-8.32" rtn3="-19.31"/>
        </monthlyTotReturns>
        <othMon1 netRealizedGain="489532.46" netUnrealizedAppr="-1302552.97"/>
        <othMon2 netRealizedGain="10464.38" netUnrealizedAppr="-1377861.40"/>
        <othMon3 netRealizedGain="0.00" netUnrealizedAppr="-3023047.37"/>
      </returnInfo>
      <mon1Flow redemption="-2806470.00" reinvestment="0.00" sales="2806470.00"/>
      <mon2Flow redemption="0.00" reinvestment="0.00" sales="2567580.00"/>
      <mon3Flow redemption="0.00" reinvestment="0.00" sales="0.00"/>
    </fundInfo>
    <invstOrSecs>
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        <name>BCO CREDITO INVERS</name>
        <lei>549300E9E5Y3PKW24142</lei>
        <title>BCO CREDITO INVERS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="BCI CI"/>
          <other otherDesc="SEDOL" value="2069355"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>BANCO DE CHILE</name>
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        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="CHILE CI"/>
          <other otherDesc="SEDOL" value="2100845"/>
        </identifiers>
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        <units>NS</units>
        <currencyConditional curCd="CLP" exchangeRt="855.9"/>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
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      <invstOrSec>
        <name>EMPRESAS CMPC SA</name>
        <lei>N/A</lei>
        <title>EMPRESAS CMPC SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="CMPC CI"/>
          <other otherDesc="SEDOL" value="2196015"/>
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        <currencyConditional curCd="CLP" exchangeRt="855.9"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPRESAS COPEC SA</name>
        <lei>549300Q3IDJYG6Z7PA50</lei>
        <title>EMPRESAS COPEC SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="COPEC CI"/>
          <other otherDesc="SEDOL" value="2196026"/>
        </identifiers>
        <balance>39776</balance>
        <units>NS</units>
        <currencyConditional curCd="CLP" exchangeRt="855.9"/>
        <valUSD>227720.97</valUSD>
        <pctVal>1.86</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COLBUN S.A.</name>
        <lei>5493003VQJLE2QB8IF36</lei>
        <title>COLBUN S.A.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="COLBUN CI"/>
          <other otherDesc="SEDOL" value="2309255"/>
        </identifiers>
        <balance>853276</balance>
        <units>NS</units>
        <currencyConditional curCd="CLP" exchangeRt="855.9"/>
        <valUSD>92714.88</valUSD>
        <pctVal>0.76</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GPO BIMBO SAB</name>
        <lei>5493000RIXURZEBFEV60</lei>
        <title>GPO BIMBO SAB</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="BIMBOA MM"/>
          <other otherDesc="SEDOL" value="2392471"/>
        </identifiers>
        <balance>16554</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="23.7225"/>
        <valUSD>24277.11</valUSD>
        <pctVal>0.20</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>GPO CARSO SAB DE C</name>
        <lei>5493007R35VF4W6YVW92</lei>
        <title>GPO CARSO SAB DE C</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="GCARSOA1 MM"/>
          <other otherDesc="SEDOL" value="2393452"/>
        </identifiers>
        <balance>4255</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="23.7225"/>
        <valUSD>8356.64</valUSD>
        <pctVal>0.07</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>GPO FIN BANORTE</name>
        <lei>N/A</lei>
        <title>GPO FIN BANORTE</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="GFNORTEO MM"/>
          <other otherDesc="SEDOL" value="2421041"/>
        </identifiers>
        <balance>21068</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="23.7225"/>
        <valUSD>57726.63</valUSD>
        <pctVal>0.47</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>LATAM AIRLINES GP</name>
        <lei>549300HX3UUDPEFTG707</lei>
        <title>LATAM AIRLINES GP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="LTM CI"/>
          <other otherDesc="SEDOL" value="2518932"/>
        </identifiers>
        <balance>26058</balance>
        <units>NS</units>
        <currencyConditional curCd="CLP" exchangeRt="855.9"/>
        <valUSD>66979.32</valUSD>
        <pctVal>0.55</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DR REDDYS LABS LTD</name>
        <lei>335800OVDPY3DVZR2798</lei>
        <title>DR REDDYS LABS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="RDY"/>
          <other otherDesc="SEDOL" value="2748881"/>
        </identifiers>
        <balance>231</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9316.23</valUSD>
        <pctVal>0.08</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GRUPO MEXICO SAB</name>
        <lei>529900JWLZAYET2ZGW20</lei>
        <title>GRUPO MEXICO SAB</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="GMEXICOB MM"/>
          <other otherDesc="SEDOL" value="2643674"/>
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        <balance>27446</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="23.7225"/>
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        <pctVal>0.42</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMERICA MOVIL SAB</name>
        <lei>5493000FNR3UCEAONM59</lei>
        <title>AMERICA MOVIL SAB</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="AMXL MM"/>
          <other otherDesc="SEDOL" value="2667470"/>
        </identifiers>
        <balance>169472</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="23.7225"/>
        <valUSD>100729.48</valUSD>
        <pctVal>0.82</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S A C I FALABELLA</name>
        <lei>5493004CKJQ7H391LM41</lei>
        <title>S A C I FALABELLA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FALAB CI"/>
          <other otherDesc="SEDOL" value="2771672"/>
        </identifiers>
        <balance>88822</balance>
        <units>NS</units>
        <currencyConditional curCd="CLP" exchangeRt="855.9"/>
        <valUSD>195721.80</valUSD>
        <pctVal>1.60</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GPO FIN INBURSA SA</name>
        <lei>N/A</lei>
        <title>GPO FIN INBURSA SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="GFINBURO MM"/>
          <other otherDesc="SEDOL" value="2822398"/>
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        <balance>20616</balance>
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        <currencyConditional curCd="MXN" exchangeRt="23.7225"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ARCA CONTINENTAL SAB DE CV</name>
        <lei>254900U2BSJCQHJCXN24</lei>
        <title>ARCA CONTINENTAL SAB DE CV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="AC* MM"/>
          <other otherDesc="SEDOL" value="2823885"/>
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        <balance>7397</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ENEL AMERICAS S A</name>
        <lei>549300LKH11TFCJLZK20</lei>
        <title>ENEL AMERICAS S A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="ENIA"/>
          <other otherDesc="SEDOL" value="2314947"/>
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        <balance>99018</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>600049.08</valUSD>
        <pctVal>4.90</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GRUPO ELEKTRA SAB</name>
        <lei>4469000001BCXPDCGY70</lei>
        <title>GRUPO ELEKTRA SAB</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="ELEKTRA* MM"/>
          <other otherDesc="SEDOL" value="2967084"/>
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        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="23.7225"/>
        <valUSD>34188.64</valUSD>
        <pctVal>0.28</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>FIRST AMERN FDS INC</name>
        <lei>549300R5MYM6VZF1RM44</lei>
        <title>FIRST AMERN FDS INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FGXXX"/>
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        <balance>36489</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36489.16</valUSD>
        <pctVal>0.30</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FOMENTO ECONOMICO MEXICANO SAB SPON ADR UNITS</name>
        <lei>549300A8MDWDJNMLV153</lei>
        <title>FOMENTO ECONOMICO MEXICANO SAB SPON ADR UNITS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FMX"/>
          <other otherDesc="SEDOL" value="2246039"/>
        </identifiers>
        <balance>933</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>56455.83</valUSD>
        <pctVal>0.46</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>HDFC BANK LTD - ADR</name>
        <lei>335800ZQ6I4E2JXENC50</lei>
        <title>HDFC BANK LTD - ADR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="HDB"/>
          <other otherDesc="SEDOL" value="2781648"/>
        </identifiers>
        <balance>2848</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>109534.08</valUSD>
        <pctVal>0.89</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ICICI BANK LIMITED</name>
        <lei>R7RX8ER1V4666J8D1I38</lei>
        <title>ICICI BANK LIMITED</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="IBN"/>
          <other otherDesc="SEDOL" value="2569286"/>
        </identifiers>
        <balance>6378</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>54213.00</valUSD>
        <pctVal>0.44</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INFOSYS LTD</name>
        <lei>335800TYLGG93MM7PR89</lei>
        <title>INFOSYS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="INFY"/>
          <other otherDesc="SEDOL" value="2398822"/>
        </identifiers>
        <balance>7000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>57470.00</valUSD>
        <pctVal>0.47</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK PEKAO SA</name>
        <lei>5493000LKS7B3UTF7H35</lei>
        <title>BANK PEKAO SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="PEO PW"/>
          <other otherDesc="SEDOL" value="5473113"/>
        </identifiers>
        <balance>26111</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="4.13655"/>
        <valUSD>354370.56</valUSD>
        <pctVal>2.89</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASSECO POLAND SA</name>
        <lei>259400O79EWIK4XZPL40</lei>
        <title>ASSECO POLAND SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="ACP PW"/>
          <other otherDesc="SEDOL" value="5978953"/>
        </identifiers>
        <balance>9377</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="4.13655"/>
        <valUSD>131478.16</valUSD>
        <pctVal>1.07</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AYALA LAND INC</name>
        <lei>254900EWT10TQ6DKTV34</lei>
        <title>AYALA LAND INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="ALI PM"/>
          <other otherDesc="SEDOL" value="6055112"/>
        </identifiers>
        <balance>163908</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.86"/>
        <valUSD>97326.42</valUSD>
        <pctVal>0.79</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BARITO PACIFIC TBK</name>
        <lei>254900CLXCIVO1KCF078</lei>
        <title>BARITO PACIFIC TBK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="BRPT IJ"/>
          <other otherDesc="SEDOL" value="6070706"/>
        </identifiers>
        <balance>567511</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="16310"/>
        <valUSD>25226.58</valUSD>
        <pctVal>0.21</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BK OF PHILIP ISLAN</name>
        <lei>549300UW4UH6XT2X8C50</lei>
        <title>BK OF PHILIP ISLAN</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="BPI PM"/>
          <other otherDesc="SEDOL" value="6074968"/>
        </identifiers>
        <balance>35847</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.86"/>
        <valUSD>43557.70</valUSD>
        <pctVal>0.36</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DISCOVERY LIMITED</name>
        <lei>378900245A26169C8132</lei>
        <title>DISCOVERY LIMITED</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="DSY SJ"/>
          <other otherDesc="SEDOL" value="6177878"/>
        </identifiers>
        <balance>5384</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="17.8855"/>
        <valUSD>23467.98</valUSD>
        <pctVal>0.19</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHAROEN POKPHAND</name>
        <lei>529900JL5SA37OU87X40</lei>
        <title>CHAROEN POKPHAND</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="CPIN IJ"/>
          <other otherDesc="SEDOL" value="6315344"/>
        </identifiers>
        <balance>148547</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="16310"/>
        <valUSD>44992.16</valUSD>
        <pctVal>0.37</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LG CHEMICAL</name>
        <lei>988400IES4EIG7O06940</lei>
        <title>LG CHEMICAL</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="051910 KS"/>
          <other otherDesc="SEDOL" value="6346913"/>
        </identifiers>
        <balance>573</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1217.35"/>
        <valUSD>143561.84</valUSD>
        <pctVal>1.17</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FORMOSA PLASTIC</name>
        <lei>254900KM6G17UTG1QN82</lei>
        <title>FORMOSA PLASTIC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="1301 TT"/>
          <other otherDesc="SEDOL" value="6348544"/>
        </identifiers>
        <balance>73118</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="30.2415"/>
        <valUSD>181577.03</valUSD>
        <pctVal>1.48</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FORMOSA CHEM&amp;FIBRE</name>
        <lei>254900OJX8UZOAIVSU82</lei>
        <title>FORMOSA CHEM&amp;FIBRE</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="1326 TT"/>
          <other otherDesc="SEDOL" value="6348715"/>
        </identifiers>
        <balance>56875</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="30.2415"/>
        <valUSD>126006.48</valUSD>
        <pctVal>1.03</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIAM COMMERCIAL BK</name>
        <lei>54930068OELHUBHH1U03</lei>
        <title>SIAM COMMERCIAL BK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SCB-R TB"/>
          <other otherDesc="SEDOL" value="6363172"/>
        </identifiers>
        <balance>15058</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="32.8175"/>
        <valUSD>31774.71</valUSD>
        <pctVal>0.26</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KASIKORNBANK PLC THB10 (NVDR)</name>
        <lei>5493004COSQ54937AW41</lei>
        <title>KASIKORNBANK PLC THB10 (NVDR)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="KBANK-R TB"/>
          <other otherDesc="SEDOL" value="6364766"/>
        </identifiers>
        <balance>14625</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="32.8175"/>
        <valUSD>40776.64</valUSD>
        <pctVal>0.33</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GUDANG GARAM TBK</name>
        <lei>5299005TDQ8UGGR3AM31</lei>
        <title>GUDANG GARAM TBK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="GGRM IJ"/>
          <other otherDesc="SEDOL" value="6366999"/>
        </identifiers>
        <balance>9251</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="16310"/>
        <valUSD>23311.84</valUSD>
        <pctVal>0.19</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANGKOK BANK                    THB10 (NVDR)</name>
        <lei>549300CCL2BKJGMYXV60</lei>
        <title>BANGKOK BANK                    THB10 (NVDR)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="BBL-R TB"/>
          <other otherDesc="SEDOL" value="6368360"/>
        </identifiers>
        <balance>10833</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="32.8175"/>
        <valUSD>33174.88</valUSD>
        <pctVal>0.27</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MEDIATEK INC</name>
        <lei>254900UEGBK1I4DM4E14</lei>
        <title>MEDIATEK INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="2454 TT"/>
          <other otherDesc="SEDOL" value="6372480"/>
        </identifiers>
        <balance>24723</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="30.2415"/>
        <valUSD>267737.46</valUSD>
        <pctVal>2.19</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHAROEN POK FOODS</name>
        <lei>529900FJ3AI2GKGIWK15</lei>
        <title>CHAROEN POK FOODS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="CPF-R TB"/>
          <other otherDesc="SEDOL" value="6410874"/>
        </identifiers>
        <balance>20475</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="32.8175"/>
        <valUSD>15160.89</valUSD>
        <pctVal>0.12</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FUBON FINANCIAL HL</name>
        <lei>549300G7Y2TS2XNIB476</lei>
        <title>FUBON FINANCIAL HL</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="2881 TT"/>
          <other otherDesc="SEDOL" value="6411673"/>
        </identifiers>
        <balance>120593</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="30.2415"/>
        <valUSD>149736.86</valUSD>
        <pctVal>1.22</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ADVANCED INFO SERV THB1(NVDR)</name>
        <lei>529900DU2YW1NO5RMU78</lei>
        <title>ADVANCED INFO SERV THB1(NVDR)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="ADVANC-R TB"/>
          <other otherDesc="SEDOL" value="6412609"/>
        </identifiers>
        <balance>6175</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="32.8175"/>
        <valUSD>37820.52</valUSD>
        <pctVal>0.31</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CATHAY FINL HLDG</name>
        <lei>5299009XR1QLFAMQ3X77</lei>
        <title>CATHAY FINL HLDG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="2882 TT"/>
          <other otherDesc="SEDOL" value="6425663"/>
        </identifiers>
        <balance>151669</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="30.2415"/>
        <valUSD>177038.70</valUSD>
        <pctVal>1.45</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HON HAI PRECISION</name>
        <lei>30030004CM3GSZXX7O56</lei>
        <title>HON HAI PRECISION</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="2317 TT"/>
          <other otherDesc="SEDOL" value="6438564"/>
        </identifiers>
        <balance>203144</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="30.2415"/>
        <valUSD>469545.68</valUSD>
        <pctVal>3.83</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CAPITEC BANK HLDGS</name>
        <lei>N/A</lei>
        <title>CAPITEC BANK HLDGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="CPI SJ"/>
          <other otherDesc="SEDOL" value="6440859"/>
        </identifiers>
        <balance>872</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="17.8855"/>
        <valUSD>42904.03</valUSD>
        <pctVal>0.35</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HYUNDAI MOBIS</name>
        <lei>988400HJA9E0ZVDHRS65</lei>
        <title>HYUNDAI MOBIS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="012330 KS"/>
          <other otherDesc="SEDOL" value="6449544"/>
        </identifiers>
        <balance>837</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1217.35"/>
        <valUSD>116541.26</valUSD>
        <pctVal>0.95</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SK HYNIX INC</name>
        <lei>988400XAIK6XISWQV045</lei>
        <title>SK HYNIX INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="000660 KS"/>
          <other otherDesc="SEDOL" value="6450267"/>
        </identifiers>
        <balance>6699</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1217.35"/>
        <valUSD>458394.63</valUSD>
        <pctVal>3.74</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HYUNDAI MOTOR CO</name>
        <lei>9884004RQX8PRBXQ8S60</lei>
        <title>HYUNDAI MOTOR CO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="005380 KS"/>
          <other otherDesc="SEDOL" value="6451055"/>
        </identifiers>
        <balance>1907</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1217.35"/>
        <valUSD>138950.10</valUSD>
        <pctVal>1.13</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LARGAN PRECISION C</name>
        <lei>N/A</lei>
        <title>LARGAN PRECISION C</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="3008 TT"/>
          <other otherDesc="SEDOL" value="6451668"/>
        </identifiers>
        <balance>1747</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="30.2415"/>
        <valUSD>221252.58</valUSD>
        <pctVal>1.81</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTL CONTAINER TER</name>
        <lei>254900FU1MWK0I0Q4J61</lei>
        <title>INTL CONTAINER TER</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="ICT PM"/>
          <other otherDesc="SEDOL" value="6455819"/>
        </identifiers>
        <balance>29780</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.86"/>
        <valUSD>43739.01</valUSD>
        <pctVal>0.36</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INDAH KIAT PULP&amp;PA</name>
        <lei>529900F19DXXA9HNCB51</lei>
        <title>INDAH KIAT PULP&amp;PA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="INKP IJ"/>
          <other otherDesc="SEDOL" value="6462422"/>
        </identifiers>
        <balance>54054</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="16310"/>
        <valUSD>13289.79</valUSD>
        <pctVal>0.11</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JG SUMMIT HLDGS</name>
        <lei>8945008FXJ2QCVCRJM25</lei>
        <title>JG SUMMIT HLDGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="JGS PM"/>
          <other otherDesc="SEDOL" value="6466457"/>
        </identifiers>
        <balance>75995</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.86"/>
        <valUSD>78146.65</valUSD>
        <pctVal>0.64</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>METROPOLITAN BANK</name>
        <lei>549300SQYI82RVWFN715</lei>
        <title>METROPOLITAN BANK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="MBT PM"/>
          <other otherDesc="SEDOL" value="6514442"/>
        </identifiers>
        <balance>44514</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.86"/>
        <valUSD>35009.04</valUSD>
        <pctVal>0.29</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NAVER CORP</name>
        <lei>N/A</lei>
        <title>NAVER CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="035420 KS"/>
          <other otherDesc="SEDOL" value="6560393"/>
        </identifiers>
        <balance>1720</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1217.35"/>
        <valUSD>240193.86</valUSD>
        <pctVal>1.96</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MTN GROUP LTD</name>
        <lei>2549009JD6Q6XHZS5E05</lei>
        <title>MTN GROUP LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="MTN SJ"/>
          <other otherDesc="SEDOL" value="6563206"/>
        </identifiers>
        <balance>26153</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="17.8855"/>
        <valUSD>70758.08</valUSD>
        <pctVal>0.58</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIRSTRAND LTD</name>
        <lei>N/A</lei>
        <title>FIRSTRAND LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FSR SJ"/>
          <other otherDesc="SEDOL" value="6606996"/>
        </identifiers>
        <balance>48432</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="17.8855"/>
        <valUSD>109046.81</valUSD>
        <pctVal>0.89</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIAM CEMENT CO</name>
        <lei>529900SEH9QK8ZZDCQ89</lei>
        <title>SIAM CEMENT CO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SCC-R TB"/>
          <other otherDesc="SEDOL" value="6609928"/>
        </identifiers>
        <balance>4441</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="32.8175"/>
        <valUSD>43845.02</valUSD>
        <pctVal>0.36</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NAN YA PLASTIC</name>
        <lei>254900L66RP14M9UOM28</lei>
        <title>NAN YA PLASTIC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="1303 TT"/>
          <other otherDesc="SEDOL" value="6621580"/>
        </identifiers>
        <balance>82685</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="30.2415"/>
        <valUSD>149558.37</valUSD>
        <pctVal>1.22</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEDBANK GROUP LTD</name>
        <lei>N/A</lei>
        <title>NEDBANK GROUP LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="NED SJ"/>
          <other otherDesc="SEDOL" value="6628008"/>
        </identifiers>
        <balance>7412</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="17.8855"/>
        <valUSD>34255.45</valUSD>
        <pctVal>0.28</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>POSCO</name>
        <lei>988400E5HRVX81AYLM04</lei>
        <title>POSCO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="005490 KS"/>
          <other otherDesc="SEDOL" value="6693233"/>
        </identifiers>
        <balance>927</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1217.35"/>
        <valUSD>122599.91</valUSD>
        <pctVal>1.00</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FORMOSA PETROCHEMI</name>
        <lei>529900UWWAOQ8470E792</lei>
        <title>FORMOSA PETROCHEMI</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="6505 TT"/>
          <other otherDesc="SEDOL" value="6718716"/>
        </identifiers>
        <balance>20317</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="30.2415"/>
        <valUSD>54686.57</valUSD>
        <pctVal>0.45</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAMSUNG ELECTRONIC</name>
        <lei>9884007ER46L6N7EI764</lei>
        <title>SAMSUNG ELECTRONIC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="005930 KS"/>
          <other otherDesc="SEDOL" value="6771720"/>
        </identifiers>
        <balance>27887</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1217.35"/>
        <valUSD>1093854.89</valUSD>
        <pctVal>8.93</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SASOL</name>
        <lei>N/A</lei>
        <title>SASOL</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SOL SJ"/>
          <other otherDesc="SEDOL" value="6777450"/>
        </identifiers>
        <balance>9200</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="17.8855"/>
        <valUSD>18996.17</valUSD>
        <pctVal>0.16</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SM PRIME HLDGS</name>
        <lei>254900SZK83MIAB8CU32</lei>
        <title>SM PRIME HLDGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SMPH PM"/>
          <other otherDesc="SEDOL" value="6818843"/>
        </identifiers>
        <balance>191750</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.86"/>
        <valUSD>107072.36</valUSD>
        <pctVal>0.87</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LPP SA</name>
        <lei>259400NUS7MKGPJL4752</lei>
        <title>LPP SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="LPP PW"/>
          <other otherDesc="SEDOL" value="7127979"/>
        </identifiers>
        <balance>164</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="4.13655"/>
        <valUSD>207351.54</valUSD>
        <pctVal>1.69</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CD PROJEKT SA</name>
        <lei>259400TYO5Q8SH8TL437</lei>
        <title>CD PROJEKT SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="CDR PW"/>
          <other otherDesc="SEDOL" value="7302215"/>
        </identifiers>
        <balance>8158</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="4.13655"/>
        <valUSD>570155.76</valUSD>
        <pctVal>4.65</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SOCIEDAD QUIMICA MINERA DE CHI SPON ADR SER B</name>
        <lei>TJ88LXZZW5PWIN93ZC81</lei>
        <title>SOCIEDAD QUIMICA MINERA DE CHI SPON ADR SER B</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SQM"/>
          <other otherDesc="SEDOL" value="2771122"/>
        </identifiers>
        <balance>5216</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>117620.80</valUSD>
        <pctVal>0.96</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS</name>
        <lei>549300KB6NK5SBD14S87</lei>
        <title>TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="TSM"/>
          <other otherDesc="SEDOL" value="2113382"/>
        </identifiers>
        <balance>24922</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1191022.38</valUSD>
        <pctVal>9.72</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TATA MTRS LTD</name>
        <lei>335800BO2LHWJJ8TZI32</lei>
        <title>TATA MTRS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="TTM"/>
          <other otherDesc="SEDOL" value="B02ZP96"/>
        </identifiers>
        <balance>628</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2964.16</valUSD>
        <pctVal>0.02</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VEDANTA LTD</name>
        <lei>335800XDKX9KB5EMCO07</lei>
        <title>VEDANTA LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="VEDL"/>
          <other otherDesc="SEDOL" value="BXBZC86"/>
        </identifiers>
        <balance>855</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3043.80</valUSD>
        <pctVal>0.02</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WNS HOLDINGS LTD</name>
        <lei>529900RM7QHUD3W9DM42</lei>
        <title>WNS HOLDINGS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="WNS"/>
          <other otherDesc="SEDOL" value="B194GX4"/>
        </identifiers>
        <balance>83</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3567.34</valUSD>
        <pctVal>0.03</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WIPRO LTD</name>
        <lei>335800IFS1IJHESG8362</lei>
        <title>WIPRO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="WIT"/>
          <other otherDesc="SEDOL" value="2646123"/>
        </identifiers>
        <balance>2467</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7647.70</valUSD>
        <pctVal>0.06</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CENT PATTANA PUB</name>
        <lei>N/A</lei>
        <title>CENT PATTANA PUB</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="CPN-R TB"/>
          <other otherDesc="SEDOL" value="B013L15"/>
        </identifiers>
        <balance>14408</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="32.8175"/>
        <valUSD>18768.71</valUSD>
        <pctVal>0.15</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANGKOK DUSIT MEDI THB1(NVDR)</name>
        <lei>N/A</lei>
        <title>BANGKOK DUSIT MEDI THB1(NVDR)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="BDMS-R TB"/>
          <other otherDesc="SEDOL" value="B013SV4"/>
        </identifiers>
        <balance>53300</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="32.8175"/>
        <valUSD>30696.12</valUSD>
        <pctVal>0.25</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK PERMATA</name>
        <lei>5493003MGU02RFSRZT53</lei>
        <title>BANK PERMATA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="BNLI IJ"/>
          <other otherDesc="SEDOL" value="B013ZT1"/>
        </identifiers>
        <balance>66064</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="16310"/>
        <valUSD>4192.29</valUSD>
        <pctVal>0.03</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BK CENTRAL ASIA</name>
        <lei>254900BR956G2OHVOM21</lei>
        <title>BK CENTRAL ASIA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="BBCA IJ"/>
          <other otherDesc="SEDOL" value="B01C1P6"/>
        </identifiers>
        <balance>231173</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="16310"/>
        <valUSD>391548.38</valUSD>
        <pctVal>3.20</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STANDARD BK GR LTD</name>
        <lei>2549003PEZXUT7MDBU41</lei>
        <title>STANDARD BK GR LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SBK SJ"/>
          <other otherDesc="SEDOL" value="B030GJ7"/>
        </identifiers>
        <balance>18867</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="17.8855"/>
        <valUSD>108093.23</valUSD>
        <pctVal>0.88</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CCC SA</name>
        <lei>259400NWPQ2HCSMZP970</lei>
        <title>CCC SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="CCC PW"/>
          <other otherDesc="SEDOL" value="B04QR13"/>
        </identifiers>
        <balance>4052</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="4.13655"/>
        <valUSD>29367.22</valUSD>
        <pctVal>0.24</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EUROCASH SA</name>
        <lei>259400FVIQJS5VD8JO79</lei>
        <title>EUROCASH SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="EUR PW"/>
          <other otherDesc="SEDOL" value="B064B91"/>
        </identifiers>
        <balance>9526</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="4.13655"/>
        <valUSD>39149.05</valUSD>
        <pctVal>0.32</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SM INVEST CORP</name>
        <lei>254900YB8UATFP21AF80</lei>
        <title>SM INVEST CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SM PM"/>
          <other otherDesc="SEDOL" value="B068DB9"/>
        </identifiers>
        <balance>9809</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.86"/>
        <valUSD>157761.74</valUSD>
        <pctVal>1.29</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AXIS BANK</name>
        <lei>549300HVNWMJPOFVNI41</lei>
        <title>AXIS BANK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="AXB LI"/>
          <other otherDesc="SEDOL" value="B06CDW2"/>
        </identifiers>
        <balance>1062</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26868.60</valUSD>
        <pctVal>0.22</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AYALA CORP</name>
        <lei>254900QJ68UH8GKNGI69</lei>
        <title>AYALA CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="AC PM"/>
          <other otherDesc="SEDOL" value="B09JBT3"/>
        </identifiers>
        <balance>5416</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.86"/>
        <valUSD>49772.68</valUSD>
        <pctVal>0.41</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CELLTRION INC</name>
        <lei>N/A</lei>
        <title>CELLTRION INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="068270 KS"/>
          <other otherDesc="SEDOL" value="B0C5YV1"/>
        </identifiers>
        <balance>1345</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1217.35"/>
        <valUSD>253050.31</valUSD>
        <pctVal>2.07</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SANLAM</name>
        <lei>37890014418406D9FC23</lei>
        <title>SANLAM</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SLM SJ"/>
          <other otherDesc="SEDOL" value="B0L6750"/>
        </identifiers>
        <balance>29993</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="17.8855"/>
        <valUSD>85675.12</valUSD>
        <pctVal>0.70</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RELIANCE INDS GDR</name>
        <lei>5493003UOETFYRONLG31</lei>
        <title>RELIANCE INDS GDR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="RIGD LI"/>
          <other otherDesc="SEDOL" value="B16CYP9"/>
        </identifiers>
        <balance>3272</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>100777.60</valUSD>
        <pctVal>0.82</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IMPALA PLATINUM</name>
        <lei>254900BZFIFB4PD2Z778</lei>
        <title>IMPALA PLATINUM</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="IMP SJ"/>
          <other otherDesc="SEDOL" value="B1FFT76"/>
        </identifiers>
        <balance>11470</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="17.8855"/>
        <valUSD>48572.18</valUSD>
        <pctVal>0.40</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MANILA ELECTRIC CO</name>
        <lei>N/A</lei>
        <title>MANILA ELECTRIC CO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="MER PM"/>
          <other otherDesc="SEDOL" value="B247XZ6"/>
        </identifiers>
        <balance>4875</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.86"/>
        <valUSD>21566.56</valUSD>
        <pctVal>0.18</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CYFROWY POLSAT SA</name>
        <lei>259400EM1ITR201TTX36</lei>
        <title>CYFROWY POLSAT SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="CPS PW"/>
          <other otherDesc="SEDOL" value="B2QRCM4"/>
        </identifiers>
        <balance>33911</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="4.13655"/>
        <valUSD>195273.84</valUSD>
        <pctVal>1.59</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHANDRA ASRI PETRO</name>
        <lei>N/A</lei>
        <title>CHANDRA ASRI PETRO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="TPIA IJ"/>
          <other otherDesc="SEDOL" value="B39NJF8"/>
        </identifiers>
        <balance>33434</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="16310"/>
        <valUSD>10762.02</valUSD>
        <pctVal>0.09</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ADARO ENERGY TBK</name>
        <lei>529900P2WAH7XA87OI24</lei>
        <title>ADARO ENERGY TBK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="ADRO IJ"/>
          <other otherDesc="SEDOL" value="B3BQFC4"/>
        </identifiers>
        <balance>304639</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="16310"/>
        <valUSD>18491.27</valUSD>
        <pctVal>0.15</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KRUK SA</name>
        <lei>259400T1FZYBIW8XUJ78</lei>
        <title>KRUK SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="KRU PW"/>
          <other otherDesc="SEDOL" value="B4PTLY0"/>
        </identifiers>
        <balance>2107</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="4.13655"/>
        <valUSD>33363.19</valUSD>
        <pctVal>0.27</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BDO UNIBANK INC</name>
        <lei>3FGIIBS1PEI1FYQBGN97</lei>
        <title>BDO UNIBANK INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="BDO PM"/>
          <other otherDesc="SEDOL" value="B5VJH76"/>
        </identifiers>
        <balance>36302</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="50.86"/>
        <valUSD>73874.50</valUSD>
        <pctVal>0.60</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KALBE FARMA</name>
        <lei>529900PRQI8S32HOE387</lei>
        <title>KALBE FARMA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="KLBF IJ"/>
          <other otherDesc="SEDOL" value="B7311V6"/>
        </identifiers>
        <balance>431494</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="16310"/>
        <valUSD>31746.95</valUSD>
        <pctVal>0.26</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PTT GLOBAL CHEMICA</name>
        <lei>5493007X3230PPPZFF40</lei>
        <title>PTT GLOBAL CHEMICA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="PTTGC-R TB"/>
          <other otherDesc="SEDOL" value="B73BGD3"/>
        </identifiers>
        <balance>13433</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="32.8175"/>
        <valUSD>12484.39</valUSD>
        <pctVal>0.10</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALIOR BANK SA</name>
        <lei>259400QHDOZWMJ103294</lei>
        <title>ALIOR BANK SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="ALR PW"/>
          <other otherDesc="SEDOL" value="B8W8F13"/>
        </identifiers>
        <balance>11590</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="4.13655"/>
        <valUSD>36087.85</valUSD>
        <pctVal>0.29</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SARANA MENARA NUSA</name>
        <lei>N/A</lei>
        <title>SARANA MENARA NUSA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="TOWR IJ"/>
          <other otherDesc="SEDOL" value="BCDBLX3"/>
        </identifiers>
        <balance>558718</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="16310"/>
        <valUSD>23122.91</valUSD>
        <pctVal>0.19</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DINO POLSKA SA</name>
        <lei>259400H4L81SMPRTW956</lei>
        <title>DINO POLSKA SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="DNP PW"/>
          <other otherDesc="SEDOL" value="BD0YVN2"/>
        </identifiers>
        <balance>5533</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="4.13655"/>
        <valUSD>216823.03</valUSD>
        <pctVal>1.77</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GULF ENERGY DEVELO</name>
        <lei>N/A</lei>
        <title>GULF ENERGY DEVELO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="GULF-R TB"/>
          <other otherDesc="SEDOL" value="BFN4H35"/>
        </identifiers>
        <balance>3683</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="32.8175"/>
        <valUSD>16834.01</valUSD>
        <pctVal>0.14</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ABSA GROUP LTD</name>
        <lei>2138006IPPRD4N6XLT30</lei>
        <title>ABSA GROUP LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="ABG SJ"/>
          <other otherDesc="SEDOL" value="BFX05H3"/>
        </identifiers>
        <balance>10700</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="17.8855"/>
        <valUSD>44868.75</valUSD>
        <pctVal>0.37</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAMSUNG C&amp;T CORP</name>
        <lei>988400GFRE4IDFPE9E64</lei>
        <title>SAMSUNG C&amp;T CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="028260 KS"/>
          <other otherDesc="SEDOL" value="BSXN8K7"/>
        </identifiers>
        <balance>1093</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1217.35"/>
        <valUSD>80447.53</valUSD>
        <pctVal>0.66</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BECLE SAB DE CV</name>
        <lei>529900JY55CZKMJLCE09</lei>
        <title>BECLE SAB DE CV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="CUERVO * MM"/>
          <other otherDesc="SEDOL" value="BYM4063"/>
        </identifiers>
        <balance>5271</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="23.7225"/>
        <valUSD>6405.86</valUSD>
        <pctVal>0.05</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>SAMSUNG BIOLOGICS</name>
        <lei>N/A</lei>
        <title>SAMSUNG BIOLOGICS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="207940 KS"/>
          <other otherDesc="SEDOL" value="BYNJCV6"/>
        </identifiers>
        <balance>208</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1217.35"/>
        <valUSD>82355.94</valUSD>
        <pctVal>0.67</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ITAU CORPBANCA</name>
        <lei>549300DDPTTIZ06NIV06</lei>
        <title>ITAU CORPBANCA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="ITAUCORP CC"/>
          <other otherDesc="SEDOL" value="BYT25P4"/>
        </identifiers>
        <balance>16983481</balance>
        <units>NS</units>
        <currencyConditional curCd="CLP" exchangeRt="855.9"/>
        <valUSD>44031.25</valUSD>
        <pctVal>0.36</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <dateSigned xmlns="http://www.sec.gov/edgar/nportcommon">2020-03-31</dateSigned>
      <nameOfApplicant xmlns="http://www.sec.gov/edgar/nportcommon">Alpha Architect ETF Trust</nameOfApplicant>
      <signature xmlns="http://www.sec.gov/edgar/nportcommon">Patrick Cleary</signature>
      <signerName xmlns="http://www.sec.gov/edgar/nportcommon">Patrick Cleary</signerName>
      <title xmlns="http://www.sec.gov/edgar/nportcommon">Chief Compliance Officer</title>
    </signature>
  </formData>
</edgarSubmission>
