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                <name>MAKEMYTRIP LTD</name>
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                <title>ORDINARY SHARES</title>
                <cusip>V5633W109</cusip>
                <identifiers>
                    <isin value="MU0295S00016"/>
                </identifiers>
                <balance>1686</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>111630.06</valUSD>
                <pctVal>1.506138023200</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>MERITZ FINANCIAL GROUP INC</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7138040001"/>
                </identifiers>
                <balance>1664</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000723537"/>
                <valUSD>94477.7</valUSD>
                <pctVal>1.274714501761</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>DEXERIALS CORP</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="JP3548770001"/>
                </identifiers>
                <balance>1400</balance>
                <units>NS</units>
                <currencyConditional curCd="JPY" exchangeRt=".006340551"/>
                <valUSD>52466.57</valUSD>
                <pctVal>0.707890831769</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>JP</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>APL APOLLO TUBES LTD</name>
                <lei>335800ZU4GXSB7Q4IU95</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE702C01027"/>
                </identifiers>
                <balance>3017</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011985198"/>
                <valUSD>56298.04</valUSD>
                <pctVal>0.759585891789</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>DINO POLSKA SA</name>
                <lei>259400H4L81SMPRTW956</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="PLDINPL00011"/>
                </identifiers>
                <balance>625</balance>
                <units>NS</units>
                <currencyConditional curCd="PLN" exchangeRt=".246524011"/>
                <valUSD>59968.79</valUSD>
                <pctVal>0.809112481210</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>HD HYUNDAI ELECTRIC CO LTD</name>
                <lei>988400CSDKM9UHLHGB91</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7267260008"/>
                </identifiers>
                <balance>237</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000723537"/>
                <valUSD>42041.51</valUSD>
                <pctVal>0.567233563824</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>BENEFIT SYSTEMS SA</name>
                <lei>2594007UY43JEUOLID52</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="PLBNFTS00018"/>
                </identifiers>
                <balance>64</balance>
                <units>NS</units>
                <currencyConditional curCd="PLN" exchangeRt=".246524011"/>
                <valUSD>43411.66</valUSD>
                <pctVal>0.585719937589</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>HDFC ASSET MANAGEMENT CO LTD</name>
                <lei>3358002FLK8AK8WSEP31</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE127D01025"/>
                </identifiers>
                <balance>981</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011985198"/>
                <valUSD>45689.89</valUSD>
                <pctVal>0.616458332145</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>MAX HEALTHCARE INSTITUTE LTD</name>
                <lei>3358005LALYV4GZOYF67</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE027H01010"/>
                </identifiers>
                <balance>7845</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011985198"/>
                <valUSD>78598.37</valUSD>
                <pctVal>1.060466989075</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>TIM SA/BRAZIL</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BRTIMSACNOR5"/>
                </identifiers>
                <balance>17700</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".192581751"/>
                <valUSD>60027.15</valUSD>
                <pctVal>0.809899887533</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>INPOST SA</name>
                <lei>2221003M23QLERR89585</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="LU2290522684"/>
                </identifiers>
                <balance>6774</balance>
                <units>NS</units>
                <currencyConditional curCd="EUR" exchangeRt="1.067200552"/>
                <valUSD>109186.63</valUSD>
                <pctVal>1.473170712871</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>ZOMATO LTD</name>
                <lei>335800T4VOF9ETHF8W59</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE758T01015"/>
                </identifiers>
                <balance>31404</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011985198"/>
                <valUSD>71981.75</valUSD>
                <pctVal>0.971194055180</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>HON HAI PRECISION INDUSTRY CO LTD</name>
                <lei>30030004CM3GSZXX7O56</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0002317005"/>
                </identifiers>
                <balance>8000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030710644"/>
                <valUSD>38178.21</valUSD>
                <pctVal>0.515109046243</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD</name>
                <lei>549300KB6NK5SBD14S87</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0002330008"/>
                </identifiers>
                <balance>45000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030710644"/>
                <valUSD>1084301.2</valUSD>
                <pctVal>14.629637088082</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SHOPRITE HOLDINGS LTD</name>
                <lei>529900Q4O1EYP6NH5150</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ZAE000012084"/>
                </identifiers>
                <balance>5725</balance>
                <units>NS</units>
                <currencyConditional curCd="ZAR" exchangeRt=".053131434"/>
                <valUSD>76496.88</valUSD>
                <pctVal>1.032113210583</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>ASTRAZENECA PLC</name>
                <lei>PY6ZZQWO2IZFZC3IOL08</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="GB0009895292"/>
                </identifiers>
                <balance>695</balance>
                <units>NS</units>
                <currencyConditional curCd="GBP" exchangeRt="1.249550162"/>
                <valUSD>104641.87</valUSD>
                <pctVal>1.411851782806</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SAMSUNG ELECTRONICS CO LTD</name>
                <lei>9884007ER46L6N7EI764</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7005930003"/>
                </identifiers>
                <balance>6187</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000723537"/>
                <valUSD>342438.69</valUSD>
                <pctVal>4.620260274192</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>WAL-MART DE MEXICO SAB DE CV</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="MX01WA000038"/>
                </identifiers>
                <balance>16869</balance>
                <units>NS</units>
                <currencyConditional curCd="MXN" exchangeRt=".05837456"/>
                <valUSD>62874.4</valUSD>
                <pctVal>0.848315628656</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>ANGLO AMERICAN PLC</name>
                <lei>549300S9XF92D1X8ME43</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="GB00B1XZS820"/>
                </identifiers>
                <balance>2503</balance>
                <units>NS</units>
                <currencyConditional curCd="GBP" exchangeRt="1.249550162"/>
                <valUSD>81671.16</valUSD>
                <pctVal>1.101925766902</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>RELIANCE INDUSTRIES LTD</name>
                <lei>5493003UOETFYRONLG31</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE002A01018"/>
                </identifiers>
                <balance>1124</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011985198"/>
                <valUSD>39362.49</valUSD>
                <pctVal>0.531087619919</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ALINMA BANK</name>
                <lei>558600HPAUTN6XSVBK93</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="SA122050HV19"/>
                </identifiers>
                <balance>15796</balance>
                <units>NS</units>
                <currencyConditional curCd="SAR" exchangeRt=".266624007"/>
                <valUSD>140171.63</valUSD>
                <pctVal>1.891227342499</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>SA</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>REC LTD</name>
                <lei>335800B4YRYWAMIJZ374</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE020B01018"/>
                </identifiers>
                <balance>14558</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011985198"/>
                <valUSD>87530.8</valUSD>
                <pctVal>1.180985355388</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>KEI INDUSTRIES LTD</name>
                <lei>335800UDWBC2AWPU7M56</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE878B01027"/>
                </identifiers>
                <balance>4698</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011985198"/>
                <valUSD>222970.84</valUSD>
                <pctVal>3.008373015196</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>PHOENIX MILLS LTD/THE</name>
                <lei>33580037PCXCE5PNQU51</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE211B01039"/>
                </identifiers>
                <balance>4154</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011985198"/>
                <valUSD>155961.46</valUSD>
                <pctVal>2.104267300938</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SUPREME INDUSTRIES LTD</name>
                <lei>33580094NA85GD34LN25</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE195A01028"/>
                </identifiers>
                <balance>2203</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011985198"/>
                <valUSD>133468.02</valUSD>
                <pctVal>1.800780719845</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>MERCADOLIBRE INC</name>
                <lei>549300DKPDN9M5S8GB14</lei>
                <title>ORDINARY SHARES</title>
                <cusip>58733R102</cusip>
                <identifiers>
                    <isin value="US58733R1023"/>
                </identifiers>
                <balance>92</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>134200.4</valUSD>
                <pctVal>1.810662156489</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>UY</invCountry>

                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>TOTVS SA</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BRTOTSACNOR8"/>
                </identifiers>
                <balance>8514</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".192581751"/>
                <valUSD>45155.71</valUSD>
                <pctVal>0.609251054739</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>SK HYNIX INC</name>
                <lei>988400XAIK6XISWQV045</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7000660001"/>
                </identifiers>
                <balance>2655</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000723537"/>
                <valUSD>324952.38</valUSD>
                <pctVal>4.384331023805</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>LVMH MOET HENNESSY LOUIS VUITTON SA</name>
                <lei>IOG4E947OATN0KJYSD45</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="FR0000121014"/>
                </identifiers>
                <balance>86</balance>
                <units>NS</units>
                <currencyConditional curCd="EUR" exchangeRt="1.067200552"/>
                <valUSD>69227.99</valUSD>
                <pctVal>0.934039702287</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>FR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ALSEA SAB DE CV</name>
                <lei>4469000001BJLPKNUN21</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="MXP001391012"/>
                </identifiers>
                <balance>23959</balance>
                <units>NS</units>
                <currencyConditional curCd="MXN" exchangeRt=".05837456"/>
                <valUSD>100279.34</valUSD>
                <pctVal>1.352991541126</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>BANCO DO BRASIL SA</name>
                <lei>QE0Q0253K88YAGNPE356</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BRBBASACNOR3"/>
                </identifiers>
                <balance>18800</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".192581751"/>
                <valUSD>99275.12</valUSD>
                <pctVal>1.339442377704</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 FINANCIERO BANORTE SAB DE CV</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>P49501201</cusip>
                <identifiers>
                    <isin value="MXP370711014"/>
                </identifiers>
                <balance>21129</balance>
                <units>NS</units>
                <currencyConditional curCd="MXN" exchangeRt=".05837456"/>
                <valUSD>209578.66</valUSD>
                <pctVal>2.827682692970</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>JUMBO SA</name>
                <lei>549300TGIVUUMY40MZ05</lei>
                <title>ORDINARY SHARES</title>
                <cusip>X4114P111</cusip>
                <identifiers>
                    <isin value="GRS282183003"/>
                </identifiers>
                <balance>4907</balance>
                <units>NS</units>
                <currencyConditional curCd="EUR" exchangeRt="1.067200552"/>
                <valUSD>152118.52</valUSD>
                <pctVal>2.052417485083</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ACCTON TECHNOLOGY CORP</name>
                <lei>529900M1YRZ0GWMDF920</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0002345006"/>
                </identifiers>
                <balance>6000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030710644"/>
                <valUSD>83923.18</valUSD>
                <pctVal>1.132310530209</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>LARSEN  AND  TOUBRO LTD</name>
                <lei>3358003FR3JIC5FRXA90</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE018A01030"/>
                </identifiers>
                <balance>2187</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011985198"/>
                <valUSD>93845.31</valUSD>
                <pctVal>1.266182152817</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ICICI BANK LTD</name>
                <lei>R7RX8ER1V4666J8D1I38</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y38574110</cusip>
                <identifiers>
                    <isin value="INE090A01021"/>
                </identifiers>
                <balance>23813</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011985198"/>
                <valUSD>328289.8</valUSD>
                <pctVal>4.429360249458</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>INDIAN HOTELS CO LTD</name>
                <lei>33580076CH5SBY5HWA22</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y3925F121</cusip>
                <identifiers>
                    <isin value="INE053A01029"/>
                </identifiers>
                <balance>34765</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011985198"/>
                <valUSD>237886.79</valUSD>
                <pctVal>3.209622386980</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SUN PHARMACEUTICAL INDUSTRIES LTD</name>
                <lei>335800KJ7GE29LB4SS73</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y8523Y117</cusip>
                <identifiers>
                    <isin value="INE044A01036"/>
                </identifiers>
                <balance>5156</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011985198"/>
                <valUSD>92794.8</valUSD>
                <pctVal>1.252008434244</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>APOLLO HOSPITALS ENTERPRISE LTD</name>
                <lei>3358005YT7JQCWYLTG43</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y0187F112</cusip>
                <identifiers>
                    <isin value="INE437A01024"/>
                </identifiers>
                <balance>1062</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011985198"/>
                <valUSD>75651.02</valUSD>
                <pctVal>1.020700676107</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ELITE MATERIAL CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y2290G102</cusip>
                <identifiers>
                    <isin value="TW0002383007"/>
                </identifiers>
                <balance>8000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030710644"/>
                <valUSD>100727.41</valUSD>
                <pctVal>1.359037002931</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BANK CENTRAL ASIA TBK PT</name>
                <lei>254900BR956G2OHVOM21</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y7123P104</cusip>
                <identifiers>
                    <isin value="ID1000109507"/>
                </identifiers>
                <balance>151000</balance>
                <units>NS</units>
                <currencyConditional curCd="IDR" exchangeRt=".000061501"/>
                <valUSD>90510.98</valUSD>
                <pctVal>1.221194618144</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>MEDIATEK INC</name>
                <lei>254900UEGBK1I4DM4E14</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y5945U103</cusip>
                <identifiers>
                    <isin value="TW0002454006"/>
                </identifiers>
                <balance>3000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030710644"/>
                <valUSD>90854.83</valUSD>
                <pctVal>1.225833920132</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>INTERNATIONAL CONTAINER TERMINAL SERVICES INC</name>
                <lei>254900FU1MWK0I0Q4J61</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="PHY411571011"/>
                </identifiers>
                <balance>25110</balance>
                <units>NS</units>
                <currencyConditional curCd="PHP" exchangeRt=".017310472"/>
                <valUSD>144510.5</valUSD>
                <pctVal>1.949768358107</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>KIA CORP</name>
                <lei>988400V8MJK9N7OI5X76</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7000270009"/>
                </identifiers>
                <balance>2217</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000723537"/>
                <valUSD>187526.13</valUSD>
                <pctVal>2.530144969343</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>HANSOL CHEMICAL CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y98606109</cusip>
                <identifiers>
                    <isin value="KR7014680003"/>
                </identifiers>
                <balance>386</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000723537"/>
                <valUSD>53742.9</valUSD>
                <pctVal>0.725111364869</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>SINBON ELECTRONICS CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0003023008"/>
                </identifiers>
                <balance>11000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030710644"/>
                <valUSD>94425.96</valUSD>
                <pctVal>1.274016413976</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ASIA VITAL COMPONENTS CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0003017000"/>
                </identifiers>
                <balance>4000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030710644"/>
                <valUSD>79748.23</valUSD>
                <pctVal>1.075981160324</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BANK MANDIRI PERSERO PT</name>
                <lei>549300RSKQN4Z5ZSGH94</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ID1000095003"/>
                </identifiers>
                <balance>354800</balance>
                <units>NS</units>
                <currencyConditional curCd="IDR" exchangeRt=".000061501"/>
                <valUSD>149748.91</valUSD>
                <pctVal>2.020446170894</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>TATA CONSULTANCY SERVICES LTD</name>
                <lei>335800ZJKU9GPQRE2U66</lei>
                <title>ORDINARY SHARES</title>
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                    <isin value="INE467B01029"/>
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                <balance>3690</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011985198"/>
                <valUSD>168946.89</valUSD>
                <pctVal>2.279469660146</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ULTRATECH CEMENT LTD</name>
                <lei>335800PC9O9B4BQHG814</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE481G01011"/>
                </identifiers>
                <balance>839</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011985198"/>
                <valUSD>99809.29</valUSD>
                <pctVal>1.346649520188</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>NTPC LTD</name>
                <lei>335800Q4TRGJXNLVMB81</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE733E01010"/>
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                <balance>23742</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011985198"/>
                <valUSD>103043.68</valUSD>
                <pctVal>1.390288641773</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>COPA HOLDINGS SA</name>
                <lei>529900BB9UQJV6QQHA59</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="PAP310761054"/>
                </identifiers>
                <balance>649</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>61979.5</valUSD>
                <pctVal>0.836241435406</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>PA</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</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>54235</balance>
                <units>NS</units>
                <currencyConditional curCd="AED" exchangeRt=".272264423"/>
                <valUSD>164676.44</valUSD>
                <pctVal>2.221851782657</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>PETROLEO BRASILEIRO SA</name>
                <lei>5493000J801JZRCMFE49</lei>
                <title>PREFERRED</title>
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                <identifiers>
                    <isin value="BRPETRACNPR6"/>
                </identifiers>
                <balance>12800</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".192581751"/>
                <valUSD>103581.25</valUSD>
                <pctVal>1.397541657825</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EP</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>BR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </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>
                    <isin value="US74680A8696"/>
                </identifiers>
                <balance>58262</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>58262</valUSD>
                <pctVal>0.786084084409</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>
        </invstOrSecs>
        <signature>
            <ncom:dateSigned>2024-06-28</ncom:dateSigned>
            <ncom:nameOfApplicant>Putnam ETF Trust</ncom:nameOfApplicant>
            <ncom:signature>Janet C. Smith</ncom:signature>
            <ncom:signerName>Janet C. Smith</ncom:signerName>
            <ncom:title>Principal Financial Officer</ncom:title>
        </signature>
    </formData>
</edgarSubmission>
