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        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>Evergreen Marine Corp Taiwan Ltd</name>
        <lei>254900EIJA0A39C5SO15</lei>
        <title>Evergreen Marine Corp Taiwan Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002603008"/>
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        <balance>408970.00000000</balance>
        <units>NS</units>
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        <pctVal>0.729081618915</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 Petrochemical Corp</name>
        <lei>529900UWWAOQ8470E792</lei>
        <title>Formosa Petrochemical Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0006505001"/>
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        <balance>545620.00000000</balance>
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        <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>Taiwan Glass Industry Corp</name>
        <lei>N/A</lei>
        <title>Taiwan Glass Industry Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0001802007"/>
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        <balance>540000.00000000</balance>
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        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>Formosa Plastics Corp</name>
        <lei>254900KM6G17UTG1QN82</lei>
        <title>Formosa Plastics Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0001301000"/>
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        <balance>1502810.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Motor Corp</name>
        <lei>N/A</lei>
        <title>China Motor Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002204005"/>
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        <balance>102390.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <pctVal>0.064413992576</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 Sumco Technology Corp</name>
        <lei>N/A</lei>
        <title>Formosa Sumco Technology Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0003532008"/>
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        <balance>24740.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <pctVal>0.019210025862</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>Novatek Microelectronics Corp</name>
        <lei>N/A</lei>
        <title>Novatek Microelectronics Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0003034005"/>
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        <balance>230950.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <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>
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      <invstOrSec>
        <name>Taiwan Business Bank</name>
        <lei>254900930YMK9AXL9O17</lei>
        <title>Taiwan Business Bank</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002834009"/>
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        <balance>2430760.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <pctVal>0.286003081685</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Wistron Corp</name>
        <lei>254900DIEONKUALBFM06</lei>
        <title>Wistron Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0003231007"/>
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        <balance>1095275.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <pctVal>0.902523863112</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Institutional Fiduciary Trust - Money Market Portfolio</name>
        <lei>549300M4TP89K77LG374</lei>
        <title>Institutional Fiduciary Trust - Money Market Portfolio</title>
        <cusip>457756500</cusip>
        <identifiers>
          <isin value="US4577565009"/>
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        <balance>22483.30000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22483.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Taishin Financial Holding Co Ltd</name>
        <lei>N/A</lei>
        <title>Taishin Financial Holding Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002887007"/>
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        <balance>4731800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <pctVal>0.652345704832</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Taiwan Fertilizer Co Ltd</name>
        <lei>N/A</lei>
        <title>Taiwan Fertilizer Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0001722007"/>
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        <balance>295106.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <pctVal>0.119481624731</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>
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      <invstOrSec>
        <name>Hua Nan Financial Holdings Co Ltd</name>
        <lei>N/A</lei>
        <title>Hua Nan Financial Holdings Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002880002"/>
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        <balance>3671560.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <pctVal>0.760719418111</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Parade Technologies Ltd</name>
        <lei>529900D9FDQHQKAQLY02</lei>
        <title>Parade Technologies Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG6892A1085"/>
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        <balance>30096.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Vanguard International Semiconductor Corp</name>
        <lei>2549001S5Q158BIJJO13</lei>
        <title>Vanguard International Semiconductor Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0005347009"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Acer Inc</name>
        <lei>2549006Z3IVAZIQEUM25</lei>
        <title>Acer Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002353000"/>
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        <balance>1154000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chunghwa Telecom Co Ltd</name>
        <lei>N/A</lei>
        <title>Chunghwa Telecom Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002412004"/>
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        <assetCat>EC</assetCat>
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        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lotes Co Ltd</name>
        <lei>N/A</lei>
        <title>Lotes Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0003533006"/>
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        <balance>30165.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Compal Electronics Inc</name>
        <lei>529900ZPKWFDL21LW166</lei>
        <title>Compal Electronics Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002324001"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ASE Technology Holding Co Ltd</name>
        <lei>300300GO8QHPMV87NZ73</lei>
        <title>ASE Technology Holding Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0003711008"/>
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        <balance>1300000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Innolux Corp</name>
        <lei>3003007EXL0825P1MJ10</lei>
        <title>Innolux Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0003481008"/>
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        <balance>2998080.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Global Unichip Corp</name>
        <lei>N/A</lei>
        <title>Global Unichip Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0003443008"/>
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        <balance>34930.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MediaTek Inc</name>
        <lei>254900UEGBK1I4DM4E14</lei>
        <title>MediaTek Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002454006"/>
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        <balance>596550.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>25747479.75000000</valUSD>
        <pctVal>6.688141748793</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>Unimicron Technology Corp</name>
        <lei>N/A</lei>
        <title>Unimicron Technology Corp</title>
        <cusip>000000000</cusip>
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          <isin value="TW0003037008"/>
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        <balance>521050.00000000</balance>
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        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>Powertech Technology Inc</name>
        <lei>254900O6KNZXH2RI9Q14</lei>
        <title>Powertech Technology Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0006239007"/>
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        <balance>272900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>1015534.78000000</valUSD>
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        <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>PharmaEssentia Corp</name>
        <lei>54930001GNQLDIFASK68</lei>
        <title>PharmaEssentia Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0006446008"/>
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        <balance>102540.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>1923533.99000000</valUSD>
        <pctVal>0.499655426808</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>Cheng Shin Rubber Industry Co Ltd</name>
        <lei>3003006VZBNKJZLNJ718</lei>
        <title>Cheng Shin Rubber Industry Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002105004"/>
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        <balance>733000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>1096666.11000000</valUSD>
        <pctVal>0.284868983915</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>Elite Material Co Ltd</name>
        <lei>N/A</lei>
        <title>Elite Material Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002383007"/>
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        <balance>121782.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <pctVal>0.596312285805</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>Synnex Technology International Corp</name>
        <lei>529900GMBJ3R4A2WBC71</lei>
        <title>Synnex Technology International Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002347002"/>
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        <balance>549900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>1187540.45000000</valUSD>
        <pctVal>0.308474419210</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>Alchip Technologies Ltd</name>
        <lei>529900HKE9RIY07SLX84</lei>
        <title>Alchip Technologies Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG022421088"/>
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        <balance>30576.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>3059045.59000000</valUSD>
        <pctVal>0.794614879615</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yang Ming Marine Transport Corp</name>
        <lei>254900WG2ACWNVSP6E13</lei>
        <title>Yang Ming Marine Transport Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002609005"/>
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        <balance>699082.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>1614192.91000000</valUSD>
        <pctVal>0.419301271301</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>Wan Hai Lines Ltd</name>
        <lei>N/A</lei>
        <title>Wan Hai Lines Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002615002"/>
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        <balance>367130.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>908180.48000000</valUSD>
        <pctVal>0.235908129366</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Yulon Motor Co Ltd</name>
        <lei>N/A</lei>
        <title>Yulon Motor Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002201001"/>
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        <balance>237365.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>367076.07000000</valUSD>
        <pctVal>0.095351343610</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>
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      <invstOrSec>
        <name>Nan Ya Plastics Corp</name>
        <lei>254900L66RP14M9UOM28</lei>
        <title>Nan Ya Plastics Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0001303006"/>
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        <balance>2090860.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>1906898.50000000</valUSD>
        <pctVal>0.495334207168</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Quanta Computer Inc</name>
        <lei>529900DE8BIV3XOXIK04</lei>
        <title>Quanta Computer Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002382009"/>
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        <balance>1069040.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>9358522.47000000</valUSD>
        <pctVal>2.430961222083</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>
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      <invstOrSec>
        <name>Nanya Technology Corp</name>
        <lei>254900STKVKJBRRO0835</lei>
        <title>Nanya Technology Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002408002"/>
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        <balance>463510.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <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>
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      <invstOrSec>
        <name>E.Sun Financial Holding Co Ltd</name>
        <lei>549300X6CNQE512OPC90</lei>
        <title>E.Sun Financial Holding Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002884004"/>
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        <balance>6111343.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <pctVal>1.304961226619</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chicony Electronics Co Ltd</name>
        <lei>254900JBP5GB5B1IHS51</lei>
        <title>Chicony Electronics Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002385002"/>
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        <balance>238600.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Asia Vital Components Co Ltd</name>
        <lei>N/A</lei>
        <title>Asia Vital Components Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0003017000"/>
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        <balance>127450.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ASPEED Technology Inc</name>
        <lei>N/A</lei>
        <title>ASPEED Technology Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0005274005"/>
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        <balance>12150.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Foxconn Technology Co Ltd</name>
        <lei>3003003OO8QC88ZHCE44</lei>
        <title>Foxconn Technology Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002354008"/>
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        <balance>448190.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hiwin Technologies Corp</name>
        <lei>N/A</lei>
        <title>Hiwin Technologies Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002049004"/>
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        <balance>115089.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Jentech Precision Industrial Co Ltd</name>
        <lei>N/A</lei>
        <title>Jentech Precision Industrial Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0003653002"/>
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        <balance>41548.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CTBC Financial Holding Co Ltd</name>
        <lei>549300IWDYIFW6JXM387</lei>
        <title>CTBC Financial Holding Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002891009"/>
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        <balance>6589000.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KGI Financial Holding Co Ltd</name>
        <lei>N/A</lei>
        <title>KGI Financial Holding Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002883006"/>
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        <balance>6338000.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>3325156.71000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Walsin Technology Corp</name>
        <lei>N/A</lei>
        <title>Walsin Technology Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002492006"/>
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        <balance>128150.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>361569.49000000</valUSD>
        <pctVal>0.093920959435</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>
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      </invstOrSec>
      <invstOrSec>
        <name>momo.com Inc</name>
        <lei>N/A</lei>
        <title>momo.com Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0008454000"/>
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        <balance>31121.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>316578.06000000</valUSD>
        <pctVal>0.082234026801</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Win Semiconductors Corp</name>
        <lei>529900G3R9LZ0M2UBM97</lei>
        <title>Win Semiconductors Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0003105003"/>
        </identifiers>
        <balance>163980.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>560196.43000000</valUSD>
        <pctVal>0.145516111378</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>Winbond Electronics Corp</name>
        <lei>254900STBMBTLA91J410</lei>
        <title>Winbond Electronics Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002344009"/>
        </identifiers>
        <balance>1266548.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>571761.36000000</valUSD>
        <pctVal>0.148520206998</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>Uni-President Enterprises Corp</name>
        <lei>254900DAXBDMVEXU5959</lei>
        <title>Uni-President Enterprises Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0001216000"/>
        </identifiers>
        <balance>1930700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>4764252.31000000</valUSD>
        <pctVal>1.237557814810</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 Chemicals &amp; Fibre Corp</name>
        <lei>254900OJX8UZOAIVSU82</lei>
        <title>Formosa Chemicals &amp; Fibre Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0001326007"/>
        </identifiers>
        <balance>1369200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>1140147.33000000</valUSD>
        <pctVal>0.296163625783</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>Yageo Corp</name>
        <lei>5493001P0TOZH7GGNQ21</lei>
        <title>Yageo Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002327004"/>
        </identifiers>
        <balance>187045.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>3086560.57000000</valUSD>
        <pctVal>0.801762145609</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>Far Eastern New Century Corp</name>
        <lei>254900CDLU5OS06M6K24</lei>
        <title>Far Eastern New Century Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0001402006"/>
        </identifiers>
        <balance>1169362.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>1127113.09000000</valUSD>
        <pctVal>0.292777863543</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>Micro-Star International Co Ltd</name>
        <lei>254900F4E0BDGJSSD870</lei>
        <title>Micro-Star International Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002377009"/>
        </identifiers>
        <balance>274500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>1536419.65000000</valUSD>
        <pctVal>0.399098960543</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>First Financial Holding Co Ltd</name>
        <lei>529900BC1U046Q2GUZ64</lei>
        <title>First Financial Holding Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002892007"/>
        </identifiers>
        <balance>4249450.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>3512638.44000000</valUSD>
        <pctVal>0.912439742727</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>Chang Hwa Commercial Bank Ltd</name>
        <lei>549300FHFNGCSKDTHT42</lei>
        <title>Chang Hwa Commercial Bank Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002801008"/>
        </identifiers>
        <balance>2819989.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>1535384.21000000</valUSD>
        <pctVal>0.398829995597</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>Mega Financial Holding Co Ltd</name>
        <lei>N/A</lei>
        <title>Mega Financial Holding Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002886009"/>
        </identifiers>
        <balance>4740365.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>5595696.91000000</valUSD>
        <pctVal>1.453533102297</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>Ennostar Inc</name>
        <lei>N/A</lei>
        <title>Ennostar Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0003714002"/>
        </identifiers>
        <balance>235150.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>299814.55000000</valUSD>
        <pctVal>0.077879552803</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>Pou Chen Corp</name>
        <lei>25490027LIXQ7W4PBH18</lei>
        <title>Pou Chen Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0009904003"/>
        </identifiers>
        <balance>891000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>1002848.91000000</valUSD>
        <pctVal>0.260499114003</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>Largan Precision Co Ltd</name>
        <lei>N/A</lei>
        <title>Largan Precision Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0003008009"/>
        </identifiers>
        <balance>37749.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>3080070.61000000</valUSD>
        <pctVal>0.800076319546</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>Sino-American Silicon Products Inc</name>
        <lei>529900DMZ4STK7NEXO95</lei>
        <title>Sino-American Silicon Products Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0005483002"/>
        </identifiers>
        <balance>226850.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>930663.12000000</valUSD>
        <pctVal>0.241748199333</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>Delta Electronics Inc</name>
        <lei>529900UVZWNWGDLJSM52</lei>
        <title>Delta Electronics Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002308004"/>
        </identifiers>
        <balance>869540.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>11418108.25000000</valUSD>
        <pctVal>2.965957337205</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>Silergy Corp</name>
        <lei>N/A</lei>
        <title>Silergy Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG8190F1028"/>
        </identifiers>
        <balance>132340.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>1628793.79000000</valUSD>
        <pctVal>0.423093982511</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tatung Co Ltd</name>
        <lei>529900BJL17PBLYDPC59</lei>
        <title>Tatung Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002371002"/>
        </identifiers>
        <balance>855000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>1249203.13000000</valUSD>
        <pctVal>0.324491860469</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>Ruentex Development Co Ltd</name>
        <lei>N/A</lei>
        <title>Ruentex Development Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0009945006"/>
        </identifiers>
        <balance>616710.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>806992.91000000</valUSD>
        <pctVal>0.209623738896</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>Nien Made Enterprise Co Ltd</name>
        <lei>N/A</lei>
        <title>Nien Made Enterprise Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0008464009"/>
        </identifiers>
        <balance>55420.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>619543.69000000</valUSD>
        <pctVal>0.160932101258</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>Feng TAY Enterprise Co Ltd</name>
        <lei>N/A</lei>
        <title>Feng TAY Enterprise Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0009910000"/>
        </identifiers>
        <balance>196944.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>798961.46000000</valUSD>
        <pctVal>0.207537496803</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>International Games System Co Ltd</name>
        <lei>N/A</lei>
        <title>International Games System Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0003293007"/>
        </identifiers>
        <balance>79152.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>2351539.54000000</valUSD>
        <pctVal>0.610833756317</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>Eclat Textile Co Ltd</name>
        <lei>N/A</lei>
        <title>Eclat Textile Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0001476000"/>
        </identifiers>
        <balance>79550.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>1235063.83000000</valUSD>
        <pctVal>0.320819048856</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>Wiwynn Corp</name>
        <lei>254900FV2R15PMKXFL69</lei>
        <title>Wiwynn Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0006669005"/>
        </identifiers>
        <balance>41110.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>3285339.11000000</valUSD>
        <pctVal>0.853396677029</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>Shihlin Electric &amp; Engineering Corp</name>
        <lei>N/A</lei>
        <title>Shihlin Electric &amp; Engineering Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0001503001"/>
        </identifiers>
        <balance>113500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>664704.36000000</valUSD>
        <pctVal>0.172662995519</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>Accton Technology Corp</name>
        <lei>529900M1YRZ0GWMDF920</lei>
        <title>Accton Technology Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002345006"/>
        </identifiers>
        <balance>202164.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>4766666.32000000</valUSD>
        <pctVal>1.238184875836</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>SinoPac Financial Holdings Co Ltd</name>
        <lei>N/A</lei>
        <title>SinoPac Financial Holdings Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002890001"/>
        </identifiers>
        <balance>4751642.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>3319025.81000000</valUSD>
        <pctVal>0.862147103356</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>Nan Ya Printed Circuit Board Corp</name>
        <lei>N/A</lei>
        <title>Nan Ya Printed Circuit Board Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0008046004"/>
        </identifiers>
        <balance>83590.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>332733.30000000</valUSD>
        <pctVal>0.086430497141</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>Gigabyte Technology Co Ltd</name>
        <lei>2549001BU3CG63KSN047</lei>
        <title>Gigabyte Technology Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002376001"/>
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        <balance>207570.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>1725291.68000000</valUSD>
        <pctVal>0.448160186002</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>Oneness Biotech Co Ltd</name>
        <lei>529900YOI2Q3BDKT4Z12</lei>
        <title>Oneness Biotech Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0004743000"/>
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        <balance>147275.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>392170.31000000</valUSD>
        <pctVal>0.101869800400</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>Cathay Financial Holding Co Ltd</name>
        <lei>5299009XR1QLFAMQ3X77</lei>
        <title>Cathay Financial Holding Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002882008"/>
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        <balance>3703600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>7715715.66000000</valUSD>
        <pctVal>2.004227230335</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>Realtek Semiconductor Corp</name>
        <lei>5299002E7F36O00MYY75</lei>
        <title>Realtek Semiconductor Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002379005"/>
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        <balance>191568.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>3318965.49000000</valUSD>
        <pctVal>0.862131434688</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>Taiwan Secom Co Ltd</name>
        <lei>N/A</lei>
        <title>Taiwan Secom Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0009917005"/>
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        <balance>96000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>361634.31000000</valUSD>
        <pctVal>0.093937797019</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>Inventec Corp</name>
        <lei>391200XSJU5WEVAXB086</lei>
        <title>Inventec Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002356003"/>
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        <balance>1031000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>1575534.17000000</valUSD>
        <pctVal>0.409259312419</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>Giant Manufacturing Co Ltd</name>
        <lei>549300M7TYVF50B2GY12</lei>
        <title>Giant Manufacturing Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0009921007"/>
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        <balance>124065.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>535472.48000000</valUSD>
        <pctVal>0.139093840779</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>
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      <invstOrSec>
        <name>E Ink Holdings Inc</name>
        <lei>529900UOR451FJJYL571</lei>
        <title>E Ink Holdings Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0008069006"/>
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        <balance>316400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>2634696.27000000</valUSD>
        <pctVal>0.684386289061</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>Hotai Motor Co Ltd</name>
        <lei>254900ZL0NDWNH1MNQ51</lei>
        <title>Hotai Motor Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002207008"/>
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        <balance>131495.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>2482740.47000000</valUSD>
        <pctVal>0.644914389682</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>Yulon Nissan Motor Co Ltd</name>
        <lei>N/A</lei>
        <title>Yulon Nissan Motor Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002227006"/>
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        <balance>9780.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>22552.36000000</valUSD>
        <pctVal>0.005858180370</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>
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      <invstOrSec>
        <name>Advantech Co Ltd</name>
        <lei>2549002OSTKE9HB9IY03</lei>
        <title>Advantech Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002395001"/>
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        <balance>184218.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>1947003.52000000</valUSD>
        <pctVal>0.505751850417</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>
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      <invstOrSec>
        <name>Walsin Lihwa Corp</name>
        <lei>254900SKYY99YINZ3U83</lei>
        <title>Walsin Lihwa Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0001605004"/>
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        <balance>1083661.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>783381.34000000</valUSD>
        <pctVal>0.203490419107</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>
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      <invstOrSec>
        <name>United Microelectronics Corp</name>
        <lei>391200YJCAGH9LF96P73</lei>
        <title>United Microelectronics Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002303005"/>
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        <balance>4732760.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>6214684.32000000</valUSD>
        <pctVal>1.614320704773</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Taiwan Semiconductor Manufacturing Co Ltd</name>
        <lei>549300KB6NK5SBD14S87</lei>
        <title>Taiwan Semiconductor Manufacturing Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002330008"/>
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        <balance>2374885.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <pctVal>20.22801317646</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Globalwafers Co Ltd</name>
        <lei>529900V6RTNF3U5EGX67</lei>
        <title>Globalwafers Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0006488000"/>
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        <balance>101960.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Airtac International Group</name>
        <lei>N/A</lei>
        <title>Airtac International Group</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG014081064"/>
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        <balance>54330.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hon Hai Precision Industry Co Ltd</name>
        <lei>30030004CM3GSZXX7O56</lei>
        <title>Hon Hai Precision Industry Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002317005"/>
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        <balance>4802300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
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        <pctVal>7.001148493851</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fubon Financial Holding Co Ltd</name>
        <lei>549300G7Y2TS2XNIB476</lei>
        <title>Fubon Financial Holding Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002881000"/>
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        <balance>3271645.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>9011256.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Catcher Technology Co Ltd</name>
        <lei>5299006PRSCU66N5JF55</lei>
        <title>Catcher Technology Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002474004"/>
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        <balance>243000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>1437935.61000000</valUSD>
        <pctVal>0.373516836548</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>
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      </invstOrSec>
      <invstOrSec>
        <name>U-Ming Marine Transport Corp</name>
        <lei>2549003EO6WFLYLBWX33</lei>
        <title>U-Ming Marine Transport Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002606001"/>
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        <balance>174465.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>309183.20000000</valUSD>
        <pctVal>0.080313144743</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>Zhen Ding Technology Holding Ltd</name>
        <lei>549300H7R4K33675UP38</lei>
        <title>Zhen Ding Technology Holding Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG989221000"/>
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        <balance>256100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>937394.20000000</valUSD>
        <pctVal>0.243496658506</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Airlines Ltd</name>
        <lei>25490032B2A0G6D0JP27</lei>
        <title>China Airlines Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002610003"/>
        </identifiers>
        <balance>1160000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>907563.03000000</valUSD>
        <pctVal>0.235747741120</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>Voltronic Power Technology Corp</name>
        <lei>N/A</lei>
        <title>Voltronic Power Technology Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0006409006"/>
        </identifiers>
        <balance>26190.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>1485866.80000000</valUSD>
        <pctVal>0.385967398546</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>Far Eastern International Bank</name>
        <lei>549300MGVLXK8G4X5Y29</lei>
        <title>Far Eastern International Bank</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002845005"/>
        </identifiers>
        <balance>927735.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>373533.29000000</valUSD>
        <pctVal>0.097028665161</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>Powerchip Semiconductor Manufacturing Corp</name>
        <lei>529900VFH8M98IALG693</lei>
        <title>Powerchip Semiconductor Manufacturing Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0006770001"/>
        </identifiers>
        <balance>1277000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>619326.21000000</valUSD>
        <pctVal>0.160875608853</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>King Yuan Electronics Co Ltd</name>
        <lei>N/A</lei>
        <title>King Yuan Electronics Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002449006"/>
        </identifiers>
        <balance>445000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>1513443.85000000</valUSD>
        <pctVal>0.393130787786</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>Taiwan High Speed Rail Corp</name>
        <lei>N/A</lei>
        <title>Taiwan High Speed Rail Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002633005"/>
        </identifiers>
        <balance>838000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>710591.90000000</valUSD>
        <pctVal>0.184582700865</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>Yuanta Financial Holding Co Ltd</name>
        <lei>21380045JG57LJEFFE13</lei>
        <title>Yuanta Financial Holding Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002885001"/>
        </identifiers>
        <balance>4590000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>4760176.30000000</valUSD>
        <pctVal>1.236499034187</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 Taffeta Co Ltd</name>
        <lei>N/A</lei>
        <title>Formosa Taffeta Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0001434009"/>
        </identifiers>
        <balance>406000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>227244.58000000</valUSD>
        <pctVal>0.059028843888</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>Shin Kong Financial Holding Co Ltd</name>
        <lei>529900YF6H5G3WJC6V36</lei>
        <title>Shin Kong Financial Holding Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002888005"/>
        </identifiers>
        <balance>6555027.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>2359325.86000000</valUSD>
        <pctVal>0.612856323666</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>HTC Corp</name>
        <lei>254900W80TBUV38I3662</lei>
        <title>HTC Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002498003"/>
        </identifiers>
        <balance>292500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>438957.43000000</valUSD>
        <pctVal>0.114023179823</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>Asustek Computer Inc</name>
        <lei>254900B3WB4OGRB7HM13</lei>
        <title>Asustek Computer Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002357001"/>
        </identifiers>
        <balance>283970.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>5335616.53000000</valUSD>
        <pctVal>1.385974861086</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>Asia Cement Corp</name>
        <lei>213800EFQXH43HMGJL59</lei>
        <title>Asia Cement Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0001102002"/>
        </identifiers>
        <balance>978040.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>1205228.57000000</valUSD>
        <pctVal>0.313069069055</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 Energy Solution Holding Co Ltd</name>
        <lei>N/A</lei>
        <title>Advanced Energy Solution Holding Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG0097V1086"/>
        </identifiers>
        <balance>9990.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>347377.57000000</valUSD>
        <pctVal>0.090234479299</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Eva Airways Corp</name>
        <lei>254900S1P4XOXV67GC07</lei>
        <title>Eva Airways Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002618006"/>
        </identifiers>
        <balance>1086000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="32.78450000"/>
        <valUSD>1469111.93000000</valUSD>
        <pctVal>0.381615168866</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>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-01-29</ncom:dateSigned>
      <ncom:nameOfApplicant>Franklin Templeton ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Vivek Pai</ncom:signature>
      <ncom:signerName>Vivek Pai</ncom:signerName>
      <ncom:title>Chief Financial Officer, Chief  Accounting Officer and Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
