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                <identifiers>
                    <isin value="KR7138040001"/>
                </identifiers>
                <balance>2160</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000688231"/>
                <valUSD>169767.38</valUSD>
                <pctVal>2.163836802972</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>HD HYUNDAI ELECTRIC CO LTD</name>
                <lei>988400CSDKM9UHLHGB91</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7267260008"/>
                </identifiers>
                <balance>288</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000688231"/>
                <valUSD>81266.35</valUSD>
                <pctVal>1.035812174124</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>WIWYNN CORP</name>
                <lei>254900FV2R15PMKXFL69</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0006669005"/>
                </identifiers>
                <balance>1000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030554877"/>
                <valUSD>68442.92</valUSD>
                <pctVal>0.872366111787</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BENEFIT SYSTEMS SA</name>
                <lei>2594007UY43JEUOLID52</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="PLBNFTS00018"/>
                </identifiers>
                <balance>89</balance>
                <units>NS</units>
                <currencyConditional curCd="PLN" exchangeRt=".245914741"/>
                <valUSD>65221.51</valUSD>
                <pctVal>0.831306365707</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>PL</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>AMBER ENTERPRISES INDIA LTD</name>
                <lei>3358009JZU4XT3666G06</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE371P01015"/>
                </identifiers>
                <balance>843</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011545178"/>
                <valUSD>63279.32</valUSD>
                <pctVal>0.806551420438</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>HDFC ASSET MANAGEMENT CO LTD</name>
                <lei>3358002FLK8AK8WSEP31</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE127D01025"/>
                </identifiers>
                <balance>2683</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011545178"/>
                <valUSD>119872.91</valUSD>
                <pctVal>1.527887243930</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>TIM SA/BRAZIL</name>
                <lei>529900QI0CH1DN5ZCS77</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BRTIMSACNOR5"/>
                </identifiers>
                <balance>46100</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".17111421"/>
                <valUSD>123137.38</valUSD>
                <pctVal>1.569495828148</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>7113</balance>
                <units>NS</units>
                <currencyConditional curCd="EUR" exchangeRt="1.037400358"/>
                <valUSD>116957.61</valUSD>
                <pctVal>1.490729143052</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>PL</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ZOMATO LTD</name>
                <lei>335800T4VOF9ETHF8W59</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE758T01015"/>
                </identifiers>
                <balance>23873</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011545178"/>
                <valUSD>60732.43</valUSD>
                <pctVal>0.774089033876</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>HD HYUNDAI HEAVY INDUSTRIES CO LTD</name>
                <lei>988400CAR8W9URQLGF30</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7329180004"/>
                </identifiers>
                <balance>701</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000688231"/>
                <valUSD>150041.98</valUSD>
                <pctVal>1.912418971859</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD</name>
                <lei>549300KB6NK5SBD14S87</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0002330008"/>
                </identifiers>
                <balance>40000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030554877"/>
                <valUSD>1387191.4</valUSD>
                <pctVal>17.680992685911</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>GAMUDA BHD</name>
                <lei>254900RW4N94L9KA9137</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="MYL5398OO002"/>
                </identifiers>
                <balance>55200</balance>
                <units>NS</units>
                <currencyConditional curCd="MYR" exchangeRt=".224340998"/>
                <valUSD>50029.84</valUSD>
                <pctVal>0.637674970532</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>MY</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</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>8341</balance>
                <units>NS</units>
                <currencyConditional curCd="ZAR" exchangeRt=".053526027"/>
                <valUSD>127620.76</valUSD>
                <pctVal>1.626640508390</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>ZA</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SAMSUNG ELECTRONICS CO LTD</name>
                <lei>9884007ER46L6N7EI764</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7005930003"/>
                </identifiers>
                <balance>1623</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000688231"/>
                <valUSD>58530.76</valUSD>
                <pctVal>0.746026784379</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>KEI INDUSTRIES LTD</name>
                <lei>335800UDWBC2AWPU7M56</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE878B01027"/>
                </identifiers>
                <balance>2104</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011545178"/>
                <valUSD>97737.48</valUSD>
                <pctVal>1.245751429125</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>PHOENIX MILLS LTD/THE</name>
                <lei>33580037PCXCE5PNQU51</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE211B01039"/>
                </identifiers>
                <balance>7182</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011545178"/>
                <valUSD>136133.9</valUSD>
                <pctVal>1.735148077046</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>SUPREME INDUSTRIES LTD</name>
                <lei>33580094NA85GD34LN25</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE195A01028"/>
                </identifiers>
                <balance>1555</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011545178"/>
                <valUSD>71250.88</valUSD>
                <pctVal>0.908156068546</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>MERCADOLIBRE INC</name>
                <lei>549300DKPDN9M5S8GB14</lei>
                <title>ORDINARY SHARES</title>
                <cusip>58733R102</cusip>
                <identifiers>
                    <isin value="US58733R1023"/>
                </identifiers>
                <balance>78</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>149930.82</valUSD>
                <pctVal>1.911002138431</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>AL RAJHI BANK</name>
                <lei>558600BQZS4Y1DTU8589</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="SA0007879113"/>
                </identifiers>
                <balance>9458</balance>
                <units>NS</units>
                <currencyConditional curCd="SAR" exchangeRt=".266616898"/>
                <valUSD>249644.6</valUSD>
                <pctVal>3.181943275223</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>SA</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>1865</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000688231"/>
                <valUSD>255683.41</valUSD>
                <pctVal>3.258913299289</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BANCO DO BRASIL SA</name>
                <lei>QE0Q0253K88YAGNPE356</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BRBBASACNOR3"/>
                </identifiers>
                <balance>28800</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".17111421"/>
                <valUSD>136409.51</valUSD>
                <pctVal>1.738660972522</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=".04825789"/>
                <valUSD>146012.59</valUSD>
                <pctVal>1.861060799426</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="1.037400358"/>
                <valUSD>133371.72</valUSD>
                <pctVal>1.699941627253</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ACCTON TECHNOLOGY CORP</name>
                <lei>529900M1YRZ0GWMDF920</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0002345006"/>
                </identifiers>
                <balance>7000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030554877"/>
                <valUSD>163193.6</valUSD>
                <pctVal>2.080048108709</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>MAHINDRA  AND  MAHINDRA LTD</name>
                <lei>3358003B573EV4KB4Z02</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE101A01026"/>
                </identifiers>
                <balance>4249</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011545178"/>
                <valUSD>146668.47</valUSD>
                <pctVal>1.869420575505</pctVal>
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                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ICICI BANK LTD</name>
                <lei>R7RX8ER1V4666J8D1I38</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y38574110</cusip>
                <identifiers>
                    <isin value="INE090A01021"/>
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                <balance>25145</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011545178"/>
                <valUSD>363692.22</valUSD>
                <pctVal>4.635581998088</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>INDIAN HOTELS CO LTD/THE</name>
                <lei>33580076CH5SBY5HWA22</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y3925F121</cusip>
                <identifiers>
                    <isin value="INE053A01029"/>
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                <balance>17574</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011545178"/>
                <valUSD>155153.77</valUSD>
                <pctVal>1.977573298509</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>SUN PHARMACEUTICAL INDUSTRIES LTD</name>
                <lei>335800KJ7GE29LB4SS73</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y8523Y117</cusip>
                <identifiers>
                    <isin value="INE044A01036"/>
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                <balance>6447</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011545178"/>
                <valUSD>129805.27</valUSD>
                <pctVal>1.654484038369</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>APOLLO HOSPITALS ENTERPRISE LTD</name>
                <lei>3358005YT7JQCWYLTG43</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y0187F112</cusip>
                <identifiers>
                    <isin value="INE437A01024"/>
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                <balance>1493</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011545178"/>
                <valUSD>117392.25</valUSD>
                <pctVal>1.496269017839</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>ELITE MATERIAL CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y2290G102</cusip>
                <identifiers>
                    <isin value="TW0002383007"/>
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                <balance>5000</balance>
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                <currencyConditional curCd="TWD" exchangeRt=".030554877"/>
                <valUSD>93803.47</valUSD>
                <pctVal>1.195608959934</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BANK CENTRAL ASIA TBK PT</name>
                <lei>254900BR956G2OHVOM21</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y7123P104</cusip>
                <identifiers>
                    <isin value="ID1000109507"/>
                </identifiers>
                <balance>298900</balance>
                <units>NS</units>
                <currencyConditional curCd="IDR" exchangeRt=".00006135"/>
                <valUSD>173288.65</valUSD>
                <pctVal>2.208718532426</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>ID</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>MEDIATEK INC</name>
                <lei>254900UEGBK1I4DM4E14</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y5945U103</cusip>
                <identifiers>
                    <isin value="TW0002454006"/>
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                <balance>7000</balance>
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                <currencyConditional curCd="TWD" exchangeRt=".030554877"/>
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                <pctVal>3.993801320612</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>INTERNATIONAL 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=".017131208"/>
                <valUSD>150557.62</valUSD>
                <pctVal>1.918991263951</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>PH</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>KIA CORP</name>
                <lei>988400V8MJK9N7OI5X76</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7000270009"/>
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                <balance>2283</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000688231"/>
                <valUSD>160265.66</valUSD>
                <pctVal>2.042728899749</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BHARTI AIRTEL LTD</name>
                <lei>335800KQ1FPKOQ84OR26</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y0885K108</cusip>
                <identifiers>
                    <isin value="INE397D01024"/>
                </identifiers>
                <balance>9295</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011545178"/>
                <valUSD>174522.2</valUSD>
                <pctVal>2.224441228319</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>ASIA VITAL COMPONENTS CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0003017000"/>
                </identifiers>
                <balance>6000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030554877"/>
                <valUSD>106147.64</valUSD>
                <pctVal>1.352946425754</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>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=".00006135"/>
                <valUSD>131145.4</valUSD>
                <pctVal>1.671565191502</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>ID</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>TATA CONSULTANCY SERVICES LTD</name>
                <lei>335800ZJKU9GPQRE2U66</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y85279100</cusip>
                <identifiers>
                    <isin value="INE467B01029"/>
                </identifiers>
                <balance>3690</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011545178"/>
                <valUSD>175195.25</valUSD>
                <pctVal>2.233019851375</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>ULTRATECH CEMENT LTD</name>
                <lei>335800PC9O9B4BQHG814</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE481G01011"/>
                </identifiers>
                <balance>928</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011545178"/>
                <valUSD>123075.68</valUSD>
                <pctVal>1.568709406570</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>NTPC LTD</name>
                <lei>335800Q4TRGJXNLVMB81</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE733E01010"/>
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                <balance>33655</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011545178"/>
                <valUSD>125891.16</valUSD>
                <pctVal>1.604595212442</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>ABU DHABI ISLAMIC BANK PJSC</name>
                <lei>5493006DOLY8O98XHD74</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="AEA000801018"/>
                </identifiers>
                <balance>63530</balance>
                <units>NS</units>
                <currencyConditional curCd="AED" exchangeRt=".272253304"/>
                <valUSD>269821.54</valUSD>
                <pctVal>3.439116386709</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>AE</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>GRUPO FINANCIERO GALICIA SA</name>
                <lei>5299008H3AXIXV5G3C23</lei>
                <title>RIGHTS</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <ticker value="PVTF8833J900"/>
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                <balance>12</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>163.32</valUSD>
                <pctVal>0.002081659190</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>AR</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>
                    <isin value="US74680A8696"/>
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                <balance>263844</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>263844</valUSD>
                <pctVal>3.362927303486</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>2025-03-31</ncom:dateSigned>
            <ncom:nameOfApplicant>Putnam ETF Trust</ncom:nameOfApplicant>
            <ncom:signature>Kevin R Blatchford</ncom:signature>
            <ncom:signerName>Kevin R Blatchford</ncom:signerName>
            <ncom:title>Assistant Treasurer</ncom:title>
        </signature>
    </formData>
    <documents>XXXX</documents>
</edgarSubmission>
