<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:ncom="http://www.sec.gov/edgar/nportcommon">
    <headerData>
        <submissionType>NPORT-P</submissionType>
        <isConfidential>false</isConfidential>
        <filerInfo>

            <filer>
                <issuerCredentials>
                    <cik>0001845809</cik>
                    <ccc>XXXXXXXX</ccc>
                </issuerCredentials>
            </filer>


            <seriesClassInfo>
                <seriesId>S000077300</seriesId>
                <classId>C000237597</classId>
            </seriesClassInfo>


        </filerInfo>
    </headerData>
    <formData>
        <genInfo>
            <regName>Putnam ETF Trust</regName>
            <regFileNumber>811-23643</regFileNumber>
            <regCik>0001845809</regCik>
            <regLei>549300EMFKH8ETCKNO35</regLei>
            <regStreet1>100 FEDERAL STREET</regStreet1>
            <regCity>BOSTON</regCity>
            <regStateConditional regCountry="US" regState="US-MA"/>
            <regZipOrPostalCode>02110</regZipOrPostalCode>
            <regPhone>1-800-225-1581</regPhone>
            <seriesName>Putnam Panagora ESG Emerging Markets Equity ETF</seriesName>
            <seriesId>S000077300</seriesId>
            <seriesLei>549300D6DERBDQV65J18</seriesLei>
            <repPdEnd>2023-04-30</repPdEnd>
            <repPdDate>2023-01-31</repPdDate>
            <isFinalFiling>N</isFinalFiling>
        </genInfo>
        <fundInfo>
            <totAssets>3027399.37</totAssets>
            <totLiabs>512877.93</totLiabs>
            <netAssets>2514521.44</netAssets>
            <assetsAttrMiscSec>0.00</assetsAttrMiscSec>
            <assetsInvested>0.00</assetsInvested>
            <amtPayOneYrBanksBorr>0.00</amtPayOneYrBanksBorr>
            <amtPayOneYrCtrldComp>0.00</amtPayOneYrCtrldComp>
            <amtPayOneYrOthAffil>0.00</amtPayOneYrOthAffil>
            <amtPayOneYrOther>0.00</amtPayOneYrOther>
            <amtPayAftOneYrBanksBorr>0.00</amtPayAftOneYrBanksBorr>
            <amtPayAftOneYrCtrldComp>0.00</amtPayAftOneYrCtrldComp>
            <amtPayAftOneYrOthAffil>0.00</amtPayAftOneYrOthAffil>
            <amtPayAftOneYrOther>0.00</amtPayAftOneYrOther>
            <delayDeliv>0.00</delayDeliv>
            <standByCommit>0.00</standByCommit>
            <liquidPref>0.00</liquidPref>
            <cshNotRptdInCorD>772447.5</cshNotRptdInCorD>
            <isNonCashCollateral>N</isNonCashCollateral>
            <returnInfo>
                <monthlyTotReturns>
                    <monthlyTotReturn classId="C000237597" rtn1="N/A" rtn2="N/A" rtn3="N/A"/>
                </monthlyTotReturns>
                <monthlyReturnCats>
                    <commodityContracts>
                        <mon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <forwardCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </forwardCategory>
                        <futureCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </futureCategory>
                        <optionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </optionCategory>
                        <swaptionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swaptionCategory>
                        <swapCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swapCategory>
                        <warrantCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </warrantCategory>
                        <otherCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </otherCategory>
                    </commodityContracts>
                    <creditContracts>
                        <mon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <forwardCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </forwardCategory>
                        <futureCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </futureCategory>
                        <optionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </optionCategory>
                        <swaptionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swaptionCategory>
                        <swapCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swapCategory>
                        <warrantCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </warrantCategory>
                        <otherCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </otherCategory>
                    </creditContracts>
                    <equityContracts>
                        <mon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <forwardCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </forwardCategory>
                        <futureCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </futureCategory>
                        <optionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </optionCategory>
                        <swaptionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swaptionCategory>
                        <swapCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swapCategory>
                        <warrantCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </warrantCategory>
                        <otherCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </otherCategory>
                    </equityContracts>
                    <foreignExchgContracts>
                        <mon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <forwardCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </forwardCategory>
                        <futureCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </futureCategory>
                        <optionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </optionCategory>
                        <swaptionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swaptionCategory>
                        <swapCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swapCategory>
                        <warrantCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </warrantCategory>
                        <otherCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </otherCategory>
                    </foreignExchgContracts>
                    <interestRtContracts>
                        <mon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <forwardCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </forwardCategory>
                        <futureCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </futureCategory>
                        <optionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </optionCategory>
                        <swaptionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swaptionCategory>
                        <swapCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swapCategory>
                        <warrantCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </warrantCategory>
                        <otherCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </otherCategory>
                    </interestRtContracts>
                    <otherContracts>
                        <mon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <forwardCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </forwardCategory>
                        <futureCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </futureCategory>
                        <optionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </optionCategory>
                        <swaptionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swaptionCategory>
                        <swapCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swapCategory>
                        <warrantCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </warrantCategory>
                        <otherCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </otherCategory>
                    </otherContracts>
                </monthlyReturnCats>
                <othMon1 netRealizedGain="-531.96" netUnrealizedAppr="691.40"/>
                <othMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                <othMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
            </returnInfo>
            <mon1Flow redemption="0" reinvestment="0" sales="2514249.03"/>
            <mon2Flow redemption="0" reinvestment="0" sales="0"/>
            <mon3Flow redemption="0" reinvestment="0" sales="0"/>



        </fundInfo>
        <invstOrSecs>
            <invstOrSec>
                <name>YUM CHINA HOLDINGS INC</name>
                <lei>529900DO9BYZ7VA3K502</lei>
                <title>COMMON STOCK</title>
                <cusip>98850P109</cusip>
                <identifiers>
                    <isin value="US98850P1093"/>
                </identifiers>
                <balance>434</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>26738.74</valUSD>
                <pctVal>1.063372917592</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>AMBEV SA</name>
                <lei>549300TH5Q6VRP8OT012</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>02319V103</cusip>
                <identifiers>
                    <isin value="US02319V1035"/>
                </identifiers>
                <balance>14448</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>38431.68</valUSD>
                <pctVal>1.528389433816</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>BR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>NETEASE INC</name>
                <lei>5299004AF4DSJDB0PA32</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>64110W102</cusip>
                <identifiers>
                    <isin value="US64110W1027"/>
                </identifiers>
                <balance>278</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>24633.58</valUSD>
                <pctVal>0.979652812187</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>TRIP.COM GROUP LTD</name>
                <lei>2549004RMYDSRQL4KW41</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>89677Q107</cusip>
                <identifiers>
                    <isin value="US89677Q1076"/>
                </identifiers>
                <balance>342</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>12571.92</valUSD>
                <pctVal>0.499972670744</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>VALE SA</name>
                <lei>254900SMTWBX7RU2SR20</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>91912E105</cusip>
                <identifiers>
                    <isin value="US91912E1055"/>
                </identifiers>
                <balance>2467</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>46083.56</valUSD>
                <pctVal>1.832697039958</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>BR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>VIPSHOP HOLDINGS LTD</name>
                <lei>549300I9F52K06HPZX60</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>92763W103</cusip>
                <identifiers>
                    <isin value="US92763W1036"/>
                </identifiers>
                <balance>336</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>5197.92</valUSD>
                <pctVal>0.206716073974</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>JD.COM INC</name>
                <lei>549300HVTWB0GJZ16V92</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>47215P106</cusip>
                <identifiers>
                    <isin value="US47215P1066"/>
                </identifiers>
                <balance>402</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>23931.06</valUSD>
                <pctVal>0.951714295186</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ALIBABA GROUP HOLDING LTD</name>
                <lei>5493001NTNQJDH60PM02</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>01609W102</cusip>
                <identifiers>
                    <isin value="US01609W1027"/>
                </identifiers>
                <balance>902</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>99400.4</valUSD>
                <pctVal>3.953054383183</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>PDD HOLDINGS INC</name>
                <lei>5493000573DS7005T657</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="US7223041028"/>
                </identifiers>
                <balance>261</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>25572.78</valUSD>
                <pctVal>1.017003855811</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>TENCENT MUSIC ENTERTAINMENT GROUP</name>
                <lei>213800XTZK2GOHQTYK41</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>88034P109</cusip>
                <identifiers>
                    <isin value="US88034P1093"/>
                </identifiers>
                <balance>2289</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>19204.71</valUSD>
                <pctVal>0.763752087952</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BAIDU INC</name>
                <lei>254900AL64IANZYI1E02</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>056752108</cusip>
                <identifiers>
                    <isin value="US0567521085"/>
                </identifiers>
                <balance>59</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>7946.12</valUSD>
                <pctVal>0.316009236334</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>FOMENTO ECONOMICO MEXICANO SAB DE CV</name>
                <lei>549300A8MDWDJNMLV153</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>344419106</cusip>
                <identifiers>
                    <isin value="US3444191064"/>
                </identifiers>
                <balance>489</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>42934.2</valUSD>
                <pctVal>1.707450146060</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>MX</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ICICI BANK LTD</name>
                <lei>R7RX8ER1V4666J8D1I38</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>45104G104</cusip>
                <identifiers>
                    <isin value="US45104G1040"/>
                </identifiers>
                <balance>8438</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>175763.54</valUSD>
                <pctVal>6.989940002261</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>DR REDDY'S LABORATORIES LTD</name>
                <lei>335800OVDPY3DVZR2798</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>256135203</cusip>
                <identifiers>
                    <isin value="US2561352038"/>
                </identifiers>
                <balance>644</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>34647.2</valUSD>
                <pctVal>1.377884453433</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>GOLD FIELDS LTD</name>
                <lei>5299003KXIBJQYCBBD72</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>38059T106</cusip>
                <identifiers>
                    <isin value="US38059T1060"/>
                </identifiers>
                <balance>2832</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>32398.08</valUSD>
                <pctVal>1.288439202968</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>ZA</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>INFOSYS LTD</name>
                <lei>335800TYLGG93MM7PR89</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>456788108</cusip>
                <identifiers>
                    <isin value="US4567881085"/>
                </identifiers>
                <balance>5697</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>107103.6</valUSD>
                <pctVal>4.259402934341</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>FRANKLIN FTSE TAIWAN ETF</name>
                <lei>549300PAHV2U19VENT44</lei>
                <title>EXCHANGE TRADED FUND</title>
                <cusip>35473P686</cusip>
                <identifiers>
                    <isin value="US35473P6869"/>
                </identifiers>
                <balance>9772</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>355407.64</valUSD>
                <pctVal>14.134205990306</pctVal>
                <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>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>LAND  AND  HOUSES PCL</name>
                <lei>529900O7AEACUWP7KS87</lei>
                <title>GLOBAL DEPOSITORY RECEIPT</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TH0143010R16"/>
                </identifiers>
                <balance>30500</balance>
                <units>NS</units>
                <currencyConditional curCd="THB" exchangeRt=".03029385"/>
                <valUSD>9162.1</valUSD>
                <pctVal>0.364367543432</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TH</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BANGKOK DUSIT MEDICAL SERVICES PCL</name>
                <lei>N/A</lei>
                <title>GLOBAL DEPOSITORY RECEIPT</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TH0264010R10"/>
                </identifiers>
                <balance>8500</balance>
                <units>NS</units>
                <currencyConditional curCd="THB" exchangeRt=".03029385"/>
                <valUSD>7677.43</valUSD>
                <pctVal>0.305323704060</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TH</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>HOME PRODUCT CENTER PCL</name>
                <lei>N/A</lei>
                <title>GLOBAL DEPOSITORY RECEIPT</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TH0661010R17"/>
                </identifiers>
                <balance>21300</balance>
                <units>NS</units>
                <currencyConditional curCd="THB" exchangeRt=".03029385"/>
                <valUSD>9265.97</valUSD>
                <pctVal>0.368498349332</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TH</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CEZ AS</name>
                <lei>529900S5R9YHJHYKKG94</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CZ0005112300"/>
                </identifiers>
                <balance>520</balance>
                <units>NS</units>
                <currencyConditional curCd="PLN" exchangeRt=".045722751"/>
                <valUSD>21124.85</valUSD>
                <pctVal>0.840114133209</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CZ</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CJ CHEILJEDANG CORP</name>
                <lei>9884008938PK154I3A92</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7097950000"/>
                </identifiers>
                <balance>31</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".00081182"/>
                <valUSD>8707.89</valUSD>
                <pctVal>0.346304066511</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CELLTRION INC</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7068270008"/>
                </identifiers>
                <balance>314</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".00081182"/>
                <valUSD>41512.7</valUSD>
                <pctVal>1.650918514340</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SINOPHARM GROUP CO</name>
                <lei>529900N54X78YH9JYK92</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE100000FN7"/>
                </identifiers>
                <balance>4400</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>10785.03</valUSD>
                <pctVal>0.428909844571</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CHINA MINSHENG BANKING CORP LTD</name>
                <lei>549300HBUGSQD1VCXG94</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE100000HF9"/>
                </identifiers>
                <balance>24500</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>9160.95</valUSD>
                <pctVal>0.364321809083</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CHINA PACIFIC INSURANCE GROUP CO LTD</name>
                <lei>529900BA5ILEL308WX03</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE1000009Q7"/>
                </identifiers>
                <balance>4600</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>12682.27</valUSD>
                <pctVal>0.504361179756</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CHINA MEDICAL SYSTEM HOLDINGS LTD</name>
                <lei>529900Z57DVJXUBLHX66</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KYG211081248"/>
                </identifiers>
                <balance>5000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>8660.07</valUSD>
                <pctVal>0.344402312990</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CITIC SECURITIES CO</name>
                <lei>300300E1006744000068</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE1000016V2"/>
                </identifiers>
                <balance>8500</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>19509.4</valUSD>
                <pctVal>0.775869304181</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CHOW TAI FOOK JEWELLERY GROUP LTD</name>
                <lei>254900VXRL7SRSF44G79</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KYG211461085"/>
                </identifiers>
                <balance>6600</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>14143.02</valUSD>
                <pctVal>0.562453744678</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>HK</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BB SEGURIDADE PARTICIPACOES SA</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BRBBSEACNOR5"/>
                </identifiers>
                <balance>1800</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".196993873"/>
                <valUSD>13396.37</valUSD>
                <pctVal>0.532760221762</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>BR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SAMSUNG SDS CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7018260000"/>
                </identifiers>
                <balance>119</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".00081182"/>
                <valUSD>12143.26</valUSD>
                <pctVal>0.482925291741</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SAMSUNG C AND T CORP</name>
                <lei>988400GFRE4IDFPE9E64</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7028260008"/>
                </identifiers>
                <balance>263</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".00081182"/>
                <valUSD>25460.25</valUSD>
                <pctVal>1.012528650382</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>HUATAI SECURITIES CO LTD</name>
                <lei>3003009ABT0UCWO79Q77</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE100001YQ9"/>
                </identifiers>
                <balance>5800</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>7500.2</valUSD>
                <pctVal>0.298275444412</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>DALI FOODS GROUP CO LTD</name>
                <lei>52990093PPQC644N7T38</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KYG2743Y1061"/>
                </identifiers>
                <balance>10000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>4474.77</valUSD>
                <pctVal>0.177957122529</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BOC AVIATION LTD</name>
                <lei>254900H06V5RMEB3KE72</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="SG9999015267"/>
                </identifiers>
                <balance>700</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>5811.53</valUSD>
                <pctVal>0.231118729296</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>SG</invCountry>

                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SAMSUNG BIOLOGICS CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7207940008"/>
                </identifiers>
                <balance>27</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".00081182"/>
                <valUSD>17469.55</valUSD>
                <pctVal>0.694746512084</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>DOOSAN BOBCAT INC</name>
                <lei>9884007K6X0Q0112FX44</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7241560002"/>
                </identifiers>
                <balance>206</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".00081182"/>
                <valUSD>5857.77</valUSD>
                <pctVal>0.232957647798</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>WUXI BIOLOGICS CAYMAN INC</name>
                <lei>5493001TD2TH6VDTJU11</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KYG970081173"/>
                </identifiers>
                <balance>1399</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>11645.88</valUSD>
                <pctVal>0.463144987143</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>NEPI ROCKCASTLE NV</name>
                <lei>549300FMWM53K9ULYT15</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="NL0015000RT3"/>
                </identifiers>
                <balance>1613</balance>
                <units>NS</units>
                <currencyConditional curCd="ZAR" exchangeRt=".057471264"/>
                <valUSD>10013.31</valUSD>
                <pctVal>0.398219312857</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>NL</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ABU DHABI NATIONAL OIL CO FOR DISTRIBUTION PJSC</name>
                <lei>213800YI1ZIOJB3HLB11</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="AEA006101017"/>
                </identifiers>
                <balance>5447</balance>
                <units>NS</units>
                <currencyConditional curCd="AED" exchangeRt=".272249598"/>
                <valUSD>6524.83</valUSD>
                <pctVal>0.259485956103</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>AE</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>COUNTRY GARDEN SERVICES HOLDINGS CO LTD</name>
                <lei>549300P2JRKENZSEBB42</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KYG2453A1085"/>
                </identifiers>
                <balance>4820</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>13043.61</valUSD>
                <pctVal>0.518731309764</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>XIAOMI CORP</name>
                <lei>2549001ACVFAZRNMKL32</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KYG9830T1067"/>
                </identifiers>
                <balance>6800</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>11185.48</valUSD>
                <pctVal>0.444835340119</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>MEITUAN</name>
                <lei>21380033K525E5JLIA77</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KYG596691041"/>
                </identifiers>
                <balance>1600</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>35645.92</valUSD>
                <pctVal>1.417602547863</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SD BIOSENSOR INC</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7137310009"/>
                </identifiers>
                <balance>179</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".00081182"/>
                <valUSD>4185.57</valUSD>
                <pctVal>0.166455928091</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>IMPALA PLATINUM HOLDINGS LTD</name>
                <lei>254900BZFIFB4PD2Z778</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ZAE000083648"/>
                </identifiers>
                <balance>959</balance>
                <units>NS</units>
                <currencyConditional curCd="ZAR" exchangeRt=".057471264"/>
                <valUSD>11127.17</valUSD>
                <pctVal>0.442516409802</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>ZA</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ABSA GROUP LTD</name>
                <lei>2138006IPPRD4N6XLT30</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ZAE000255915"/>
                </identifiers>
                <balance>2403</balance>
                <units>NS</units>
                <currencyConditional curCd="ZAR" exchangeRt=".057471264"/>
                <valUSD>27567.1</valUSD>
                <pctVal>1.096315965395</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>ZA</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CHINA RESOURCES LAND LTD</name>
                <lei>5299001HL0TU7X15HK51</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KYG2108Y1052"/>
                </identifiers>
                <balance>2472</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>11853.33</valUSD>
                <pctVal>0.471395065934</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>HK</invCountry>

                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>NESTLE MALAYSIA BHD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="MYL4707OO005"/>
                </identifiers>
                <balance>247</balance>
                <units>NS</units>
                <currencyConditional curCd="MYR" exchangeRt=".234425365"/>
                <valUSD>7820.17</valUSD>
                <pctVal>0.311000330942</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>MY</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SAMSUNG FIRE  AND  MARINE INSURANCE CO LTD</name>
                <lei>988400JMBDK47EW0Z936</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7000810002"/>
                </identifiers>
                <balance>84</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".00081182"/>
                <valUSD>13875.55</valUSD>
                <pctVal>0.551816730582</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>METROPOLITAN BANK  AND  TRUST CO</name>
                <lei>549300SQYI82RVWFN715</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="PHY6028G1361"/>
                </identifiers>
                <balance>4280</balance>
                <units>NS</units>
                <currencyConditional curCd="PHP" exchangeRt=".018305798"/>
                <valUSD>4499.21</valUSD>
                <pctVal>0.178929076858</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>PH</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ANGLO AMERICAN PLATINUM LTD</name>
                <lei>529900RORCZ0E5S5FX81</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ZAE000013181"/>
                </identifiers>
                <balance>177</balance>
                <units>NS</units>
                <currencyConditional curCd="ZAR" exchangeRt=".057471264"/>
                <valUSD>13163.51</valUSD>
                <pctVal>0.523499612714</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>ZA</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>LENOVO GROUP LTD</name>
                <lei>254900VUZRGD5U73RE46</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y5257Y107</cusip>
                <identifiers>
                    <isin value="HK0992009065"/>
                </identifiers>
                <balance>23065</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>18556.34</valUSD>
                <pctVal>0.737967062234</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>NASPERS LTD</name>
                <lei>21380044BQ8812EEKT59</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ZAE000015889"/>
                </identifiers>
                <balance>88</balance>
                <units>NS</units>
                <currencyConditional curCd="ZAR" exchangeRt=".057471264"/>
                <valUSD>17001.21</valUSD>
                <pctVal>0.676121099210</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>ZA</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SAMSUNG ELECTRONICS CO LTD</name>
                <lei>9884007ER46L6N7EI764</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7005930003"/>
                </identifiers>
                <balance>2159</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".00081182"/>
                <valUSD>107915.24</valUSD>
                <pctVal>4.291681044485</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ORANGE POLSKA SA</name>
                <lei>259400TOMPUOLS65II22</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="PLTLKPL00017"/>
                </identifiers>
                <balance>1073</balance>
                <units>NS</units>
                <currencyConditional curCd="PLN" exchangeRt=".230856246"/>
                <valUSD>1731.28</valUSD>
                <pctVal>0.068851272153</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>PL</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>TELKOM INDONESIA PERSERO TBK PT</name>
                <lei>529900M5SQZAOKV1PC81</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ID1000129000"/>
                </identifiers>
                <balance>152000</balance>
                <units>NS</units>
                <currencyConditional curCd="IDR" exchangeRt=".000066711"/>
                <valUSD>39335</valUSD>
                <pctVal>1.564313565765</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>ID</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CIA ENERGETICA DE MINAS GERAIS</name>
                <lei>254900W703PXLDSEM056</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BRCMIGACNPR3"/>
                </identifiers>
                <balance>5000</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".196993873"/>
                <valUSD>11287.75</valUSD>
                <pctVal>0.448902515621</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>BR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>KALBE FARMA TBK PT</name>
                <lei>529900PRQI8S32HOE387</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ID1000125107"/>
                </identifiers>
                <balance>74600</balance>
                <units>NS</units>
                <currencyConditional curCd="IDR" exchangeRt=".000066711"/>
                <valUSD>10264.55</valUSD>
                <pctVal>0.408210876102</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>ID</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>HYUNDAI MOBIS</name>
                <lei>988400HJA9E0ZVDHRS65</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7012330007"/>
                </identifiers>
                <balance>190</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".00081182"/>
                <valUSD>31880.28</valUSD>
                <pctVal>1.267846815416</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>JIANGSU EXPRESSWAY CO LTD</name>
                <lei>529900UWWTWZ6AKLYD43</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE1000003J5"/>
                </identifiers>
                <balance>4944</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>4873.84</valUSD>
                <pctVal>0.193827736860</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SK HYNIX INC</name>
                <lei>988400XAIK6XISWQV045</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7000660001"/>
                </identifiers>
                <balance>393</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".00081182"/>
                <valUSD>28602.8</valUSD>
                <pctVal>1.137504717399</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>GRUPO MEXICO SAB DE CV</name>
                <lei>529900JWLZAYET2ZGW20</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="MXP370841019"/>
                </identifiers>
                <balance>2900</balance>
                <units>NS</units>
                <currencyConditional curCd="MXN" exchangeRt=".053105334"/>
                <valUSD>12897.96</valUSD>
                <pctVal>0.512938955096</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>MX</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SK TELECOM CO LTD</name>
                <lei>9884003WEA1PHW006037</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7017670001"/>
                </identifiers>
                <balance>46</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".00081182"/>
                <valUSD>1744.31</valUSD>
                <pctVal>0.069369462207</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BANCO DE CHILE</name>
                <lei>8B4EZFY8IHJC44TT2K84</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CLP0939W1081"/>
                </identifiers>
                <balance>123818</balance>
                <units>NS</units>
                <currencyConditional curCd="CLP" exchangeRt=".001256037"/>
                <valUSD>13530.24</valUSD>
                <pctVal>0.538084097625</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CL</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>EMPRESAS COPEC SA</name>
                <lei>549300Q3IDJYG6Z7PA50</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CLP7847L1080"/>
                </identifiers>
                <balance>1374</balance>
                <units>NS</units>
                <currencyConditional curCd="CLP" exchangeRt=".001256037"/>
                <valUSD>10363.4</valUSD>
                <pctVal>0.412142041628</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CL</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>TIM PARTICIPACOES SA-ADR</name>
                <lei>529900UXXIJCZN232R31</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BRTIMPACNOR1"/>
                </identifiers>
                <balance>3400</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".196993873"/>
                <valUSD>7896.7</valUSD>
                <pctVal>0.314043852416</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>BR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>GRUPO BIMBO SAB DE CV</name>
                <lei>5493000RIXURZEBFEV60</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="MXP495211262"/>
                </identifiers>
                <balance>4200</balance>
                <units>NS</units>
                <currencyConditional curCd="MXN" exchangeRt=".053105334"/>
                <valUSD>20852.23</valUSD>
                <pctVal>0.829272308770</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>MX</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>GRUPO FINANCIERO BANORTE SAB DE CV</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>P49501201</cusip>
                <identifiers>
                    <isin value="MXP370711014"/>
                </identifiers>
                <balance>2900</balance>
                <units>NS</units>
                <currencyConditional curCd="MXN" exchangeRt=".053105334"/>
                <valUSD>24024.85</valUSD>
                <pctVal>0.955444229579</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>MX</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>KOREA GAS CORP</name>
                <lei>988400TFZILHBD5M3R71</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7036460004"/>
                </identifiers>
                <balance>63</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".00081182"/>
                <valUSD>1713.54</valUSD>
                <pctVal>0.068145770115</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CHINA PETROLEUM  AND  CHEMICAL CORP</name>
                <lei>529900A2OB24EZ5B3J19</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE1000002Q2"/>
                </identifiers>
                <balance>46000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>24878.05</valUSD>
                <pctVal>0.989375139311</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ENN ENERGY HOLDINGS LTD</name>
                <lei>549300V7BXPWT6WIPR03</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KYG3066L1014"/>
                </identifiers>
                <balance>2430</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>36567.48</valUSD>
                <pctVal>1.454252066349</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>LG CHEM LTD</name>
                <lei>988400IES4EIG7O06940</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7051910008"/>
                </identifiers>
                <balance>15</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".00081182"/>
                <valUSD>8478.92</valUSD>
                <pctVal>0.337198158867</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BANK CENTRAL ASIA TBK PT</name>
                <lei>254900BR956G2OHVOM21</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ID1000109507"/>
                </identifiers>
                <balance>45300</balance>
                <units>NS</units>
                <currencyConditional curCd="IDR" exchangeRt=".000066711"/>
                <valUSD>25673.12</valUSD>
                <pctVal>1.020994277146</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>ID</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>PPB GROUP BHD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="MYL4065OO008"/>
                </identifiers>
                <balance>2300</balance>
                <units>NS</units>
                <currencyConditional curCd="MYR" exchangeRt=".234425365"/>
                <valUSD>9495.04</valUSD>
                <pctVal>0.377608233875</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>MY</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>UNIVERSAL ROBINA CORP</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="PHY9297P1004"/>
                </identifiers>
                <balance>3240</balance>
                <units>NS</units>
                <currencyConditional curCd="PHP" exchangeRt=".018305798"/>
                <valUSD>8184.08</valUSD>
                <pctVal>0.325472667276</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>PH</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SANTANDER BANK POLSKA SA</name>
                <lei>259400LGXW3K0GDAG361</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="PLBZ00000044"/>
                </identifiers>
                <balance>90</balance>
                <units>NS</units>
                <currencyConditional curCd="PLN" exchangeRt=".230856246"/>
                <valUSD>5974.23</valUSD>
                <pctVal>0.237589145392</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>PL</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>EMBOTELLADORAS ARCA SA DE CV</name>
                <lei>254900U2BSJCQHJCXN24</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="MX01AC100006"/>
                </identifiers>
                <balance>1500</balance>
                <units>NS</units>
                <currencyConditional curCd="MXN" exchangeRt=".053105334"/>
                <valUSD>13231.19</valUSD>
                <pctVal>0.526191178549</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>MX</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BYD CO LTD</name>
                <lei>5299005557VL7ULJ7A69</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y1023R104</cusip>
                <identifiers>
                    <isin value="CNE100000296"/>
                </identifiers>
                <balance>439</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>13823.11</valUSD>
                <pctVal>0.549731244288</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>PEOPLE'S INSURANCE CO GROUP OF CHINA LTD/THE</name>
                <lei>3003000P2JHYHQ524P66</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE100001MK7"/>
                </identifiers>
                <balance>26000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>8756.71</valUSD>
                <pctVal>0.348245589029</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CHINA LIFE INSURANCE CO LTD</name>
                <lei>549300J6TFLDXGH6S048</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE1000002L3"/>
                </identifiers>
                <balance>18540</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>34046.81</valUSD>
                <pctVal>1.354007544275</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CCR SA</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BRCCROACNOR2"/>
                </identifiers>
                <balance>3400</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".196993873"/>
                <valUSD>7876.6</valUSD>
                <pctVal>0.313244495541</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>BR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ZIJIN MINING GROUP CO LTD</name>
                <lei>836800JRNL2393Z2I561</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE100000502"/>
                </identifiers>
                <balance>9607</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>15887</valUSD>
                <pctVal>0.631810083115</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>WEICHAI POWER CO LTD</name>
                <lei>529900OKTPKBG85F9502</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE1000004L9"/>
                </identifiers>
                <balance>8371</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>12678.1</valUSD>
                <pctVal>0.504195343031</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CENCOSUD SA</name>
                <lei>549300NLTGCFV7482429</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CL0000000100"/>
                </identifiers>
                <balance>5222</balance>
                <units>NS</units>
                <currencyConditional curCd="CLP" exchangeRt=".001256037"/>
                <valUSD>9379.4</valUSD>
                <pctVal>0.373009346860</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CL</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CHINA MENGNIU DAIRY CO LTD</name>
                <lei>2549005Q343BSJ8RSS21</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KYG210961051"/>
                </identifiers>
                <balance>5220</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>25130</valUSD>
                <pctVal>0.999394938545</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>HK</invCountry>

                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>TENCENT HOLDINGS LTD</name>
                <lei>254900N4SLUMW4XUYY11</lei>
                <title>ORDINARY SHARES</title>
                <cusip>G87572163</cusip>
                <identifiers>
                    <isin value="KYG875721634"/>
                </identifiers>
                <balance>2588</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>126140.31</valUSD>
                <pctVal>5.016473830504</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>PING AN INSURANCE GROUP CO OF CHINA LTD</name>
                <lei>529900M9MC28JLN35U89</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE1000003X6"/>
                </identifiers>
                <balance>7302</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>56996.12</valUSD>
                <pctVal>2.266678624939</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ZTE CORP</name>
                <lei>3003004FBGVVG1CW5U45</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE1000004Y2"/>
                </identifiers>
                <balance>4000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>9673.18</valUSD>
                <pctVal>0.384692683312</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>LOJAS RENNER SA</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BRLRENACNOR1"/>
                </identifiers>
                <balance>3300</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".196993873"/>
                <valUSD>14061.23</valUSD>
                <pctVal>0.559201038270</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>BR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>AAC TECHNOLOGIES HOLDINGS INC</name>
                <lei>549300SKEDE1VKS0A552</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KYG2953R1149"/>
                </identifiers>
                <balance>2755</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>7385.35</valUSD>
                <pctVal>0.293707974906</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CHINA CONSTRUCTION BANK CORP</name>
                <lei>5493001KQW6DM7KEDR62</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE1000002H1"/>
                </identifiers>
                <balance>63000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>40922.17</valUSD>
                <pctVal>1.627433727509</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>HANA FINANCIAL GROUP INC</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y29975102</cusip>
                <identifiers>
                    <isin value="KR7086790003"/>
                </identifiers>
                <balance>844</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".00081182"/>
                <valUSD>33603.79</valUSD>
                <pctVal>1.336389082449</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>EMIRATES TELECOMMUNICATIONS GROUP CO PJSC</name>
                <lei>529900XDPQPWEQ9BGB80</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="AEE000401019"/>
                </identifiers>
                <balance>5384</balance>
                <units>NS</units>
                <currencyConditional curCd="AED" exchangeRt=".272249598"/>
                <valUSD>37705.62</valUSD>
                <pctVal>1.499514754585</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>AE</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ABU DHABI COMMERCIAL BANK PJSC</name>
                <lei>213800RWVKKIRX1AUH58</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="AEA000201011"/>
                </identifiers>
                <balance>7088</balance>
                <units>NS</units>
                <currencyConditional curCd="AED" exchangeRt=".272249598"/>
                <valUSD>16018.65</valUSD>
                <pctVal>0.637045671800</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>AE</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ABU DHABI ISLAMIC BANK PJSC</name>
                <lei>5493006DOLY8O98XHD74</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="AEA000801018"/>
                </identifiers>
                <balance>3463</balance>
                <units>NS</units>
                <currencyConditional curCd="AED" exchangeRt=".272249598"/>
                <valUSD>8888.73</valUSD>
                <pctVal>0.353495892244</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>AE</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>NINE DRAGONS PAPER HOLDINGS LTD</name>
                <lei>529900TBMYEYJ2LEV906</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BMG653181005"/>
                </identifiers>
                <balance>6000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127532313"/>
                <valUSD>5394.86</valUSD>
                <pctVal>0.214548180587</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>HK</invCountry>

                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>HUTCHMED CHINA LTD</name>
                <lei>2138006X34YDQ6OBYE79</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KYG4672N1198"/>
                </identifiers>
                <balance>368</balance>
                <units>NS</units>
                <currencyConditional curCd="GBP" exchangeRt=".127532313"/>
                <valUSD>1359.52</valUSD>
                <pctVal>0.054066749178</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>HK</invCountry>

                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>PUTNAM INVESTMENT FUNDS-PUTNAM GOVERNMENT MONEY MARKET FUND</name>
                <lei>549300SEUI2XMME8T893</lei>
                <title>SHORT TERM INV FUND</title>
                <cusip>74680A869</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="1823199"/>
                </identifiers>
                <balance>23975</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>23975</valUSD>
                <pctVal>0.953461744991</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>STIV</assetCat>
                <issuerCat>PF</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>DIGITAL TELECOMMUNICATIONS INFRASTRUCTURE FUND</name>
                <lei>N/A</lei>
                <title>STOCK UNIT</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TH5097010018"/>
                </identifiers>
                <balance>4400</balance>
                <units>OU</units>
                <currencyConditional curCd="THB" exchangeRt=".03029385"/>
                <valUSD>1799.45</valUSD>
                <pctVal>0.071562324798</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TH</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
        </invstOrSecs>
        <explntrNotes>
            <explntrNote note="Monthly total returns provided exclude any applicable sales loads or redemption fees. " noteItem="B.5.a"/>
            <explntrNote note="For certain swaptions, if any, the value provided may include any unpaid or received premium and as a result may be a negative value." noteItem="C.2.c"/>
            <explntrNote note="For total return swaps, interest rate swaps or spread swaps, if any, the mark to market payment may be either received or paid, depending on the change in value of the underlying index, basket or equity. For credit default swaps, if any, floating rate index related payments are only made upon the occurrence of a credit event on the reference obligation." noteItem="C.11.f.i.1"/>
            <explntrNote note="For total return swaps, interest rate swaps or spread swaps, if any, the mark to market payment may be either paid or received, depending on the change in value of the underlying index, basket or equity. For credit default swaps, if any, floating rate index related payments are only made upon the occurrence of a credit event on the reference obligation." noteItem="C.11.f.i.2"/>
        </explntrNotes>
        <signature>
            <ncom:dateSigned>2023-03-29</ncom:dateSigned>
            <ncom:nameOfApplicant>Putnam Investments Inc</ncom:nameOfApplicant>
            <ncom:signature>Janet C. Smith</ncom:signature>
            <ncom:signerName>NPORT</ncom:signerName>
            <ncom:title>Principal Financial Officer</ncom:title>
        </signature>
    </formData>
    <documents>XXXX</documents>
</edgarSubmission>
