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                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7028260008"/>
                </identifiers>
                <balance>1673</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000721085"/>
                <valUSD>203274.08</valUSD>
                <pctVal>1.368523649468</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>MERCADOLIBRE INC</name>
                <lei>549300DKPDN9M5S8GB14</lei>
                <title>ORDINARY SHARES</title>
                <cusip>58733R102</cusip>
                <identifiers>
                    <isin value="US58733R1023"/>
                </identifiers>
                <balance>127</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>301484.03</valUSD>
                <pctVal>2.029712912694</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>ETIHAD ETISALAT CO</name>
                <lei>2549007BA9ABDE3HVK79</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="SA000A0DM9P2"/>
                </identifiers>
                <balance>10189</balance>
                <units>NS</units>
                <currencyConditional curCd="SAR" exchangeRt=".266588467"/>
                <valUSD>166235.72</valUSD>
                <pctVal>1.119166369890</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>ABU DHABI ISLAMIC BANK PJSC</name>
                <lei>5493006DOLY8O98XHD74</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="AEA000801018"/>
                </identifiers>
                <balance>77922</balance>
                <units>NS</units>
                <currencyConditional curCd="AED" exchangeRt=".272253304"/>
                <valUSD>512542.85</valUSD>
                <pctVal>3.450646592969</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>AE</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>83</balance>
                <units>NS</units>
                <currencyConditional curCd="PLN" exchangeRt=".266841003"/>
                <valUSD>75302.53</valUSD>
                <pctVal>0.506967209837</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>2104</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011415688"/>
                <valUSD>191272.18</valUSD>
                <pctVal>1.287721985092</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>3639</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011415688"/>
                <valUSD>234710.54</valUSD>
                <pctVal>1.580166663499</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>83111</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".178585779"/>
                <valUSD>307386.99</valUSD>
                <pctVal>2.069454036412</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>ETERNAL LTD</name>
                <lei>335800T4VOF9ETHF8W59</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE758T01015"/>
                </identifiers>
                <balance>37438</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011415688"/>
                <valUSD>131547.73</valUSD>
                <pctVal>0.885632735560</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>324</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000721085"/>
                <valUSD>114596.19</valUSD>
                <pctVal>0.771508084818</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>ANGLOGOLD ASHANTI PLC</name>
                <lei>2138005YDSA7A82RNU96</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="GB00BRXH2664"/>
                </identifiers>
                <balance>4874</balance>
                <units>NS</units>
                <currencyConditional curCd="ZAR" exchangeRt=".054896041"/>
                <valUSD>220795.91</valUSD>
                <pctVal>1.486487724066</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</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>61000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".033503644"/>
                <valUSD>2370717.82</valUSD>
                <pctVal>15.960635034660</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>104900</balance>
                <units>NS</units>
                <currencyConditional curCd="MYR" exchangeRt=".234466589"/>
                <valUSD>127404.92</valUSD>
                <pctVal>0.857741656382</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>KOREA ELECTRIC POWER CORP</name>
                <lei>988400QG33WS7JEIV602</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7015760002"/>
                </identifiers>
                <balance>9873</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000721085"/>
                <valUSD>274447.76</valUSD>
                <pctVal>1.847693764516</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>SAMSUNG ELECTRONICS CO LTD</name>
                <lei>9884007ER46L6N7EI764</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7005930003"/>
                </identifiers>
                <balance>10062</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000721085"/>
                <valUSD>518046.44</valUSD>
                <pctVal>3.487698995676</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>MTN GROUP LTD</name>
                <lei>2549009JD6Q6XHZS5E05</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ZAE000042164"/>
                </identifiers>
                <balance>27753</balance>
                <units>NS</units>
                <currencyConditional curCd="ZAR" exchangeRt=".054896041"/>
                <valUSD>233633.3</valUSD>
                <pctVal>1.572914246388</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>SK HYNIX INC</name>
                <lei>988400XAIK6XISWQV045</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7000660001"/>
                </identifiers>
                <balance>1980</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000721085"/>
                <valUSD>390488.9</valUSD>
                <pctVal>2.628929839480</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>OTP BANK NYRT</name>
                <lei>529900W3MOO00A18X956</lei>
                <title>ORDINARY SHARES</title>
                <cusip>X60746181</cusip>
                <identifiers>
                    <isin value="HU0000061726"/>
                </identifiers>
                <balance>2328</balance>
                <units>NS</units>
                <currencyConditional curCd="HUF" exchangeRt=".002853178"/>
                <valUSD>189302.66</valUSD>
                <pctVal>1.274462376695</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>HU</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO SABESP</name>
                <lei>254900UOXRZRS2TNWP19</lei>
                <title>ORDINARY SHARES</title>
                <cusip>P2R268136</cusip>
                <identifiers>
                    <isin value="BRSBSPACNOR5"/>
                </identifiers>
                <balance>12057</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".178585779"/>
                <valUSD>233214.04</valUSD>
                <pctVal>1.570091617820</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>22965</balance>
                <units>NS</units>
                <currencyConditional curCd="MXN" exchangeRt=".053008216"/>
                <valUSD>204658.14</valUSD>
                <pctVal>1.377841703410</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>NATIONAL BANK OF GREECE SA</name>
                <lei>5UMCZOEYKCVFAW8ZLO05</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="GRS003003035"/>
                </identifiers>
                <balance>21661</balance>
                <units>NS</units>
                <currencyConditional curCd="EUR" exchangeRt="1.141199469"/>
                <valUSD>303802.92</valUSD>
                <pctVal>2.045324621799</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>JUMBO SA</name>
                <lei>549300TGIVUUMY40MZ05</lei>
                <title>ORDINARY SHARES</title>
                <cusip>X4114P111</cusip>
                <identifiers>
                    <isin value="GRS282183003"/>
                </identifiers>
                <balance>8808</balance>
                <units>NS</units>
                <currencyConditional curCd="EUR" exchangeRt="1.141199469"/>
                <valUSD>297931.94</valUSD>
                <pctVal>2.005798800428</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>10000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".033503644"/>
                <valUSD>298852.5</valUSD>
                <pctVal>2.011996384157</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>9376</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011415688"/>
                <valUSD>342838.97</valUSD>
                <pctVal>2.308131161653</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ICICI BANK LTD</name>
                <lei>R7RX8ER1V4666J8D1I38</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y38574110</cusip>
                <identifiers>
                    <isin value="INE090A01021"/>
                </identifiers>
                <balance>34854</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011415688"/>
                <valUSD>589422.97</valUSD>
                <pctVal>3.968234779294</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"/>
                </identifiers>
                <balance>27800</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011415688"/>
                <valUSD>235081.55</valUSD>
                <pctVal>1.582664453474</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>2829</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011415688"/>
                <valUSD>242147.77</valUSD>
                <pctVal>1.630237115874</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"/>
                </identifiers>
                <balance>7000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".033503644"/>
                <valUSD>259150.68</valUSD>
                <pctVal>1.744707610315</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>442800</balance>
                <units>NS</units>
                <currencyConditional curCd="IDR" exchangeRt=".000060772"/>
                <valUSD>222678.21</valUSD>
                <pctVal>1.499160132007</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"/>
                </identifiers>
                <balance>7000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".033503644"/>
                <valUSD>321299.94</valUSD>
                <pctVal>2.163121665403</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>HYUNDAI ENGINEERING  AND  CONSTRUCTION CO LTD</name>
                <lei>988400CEQG9N710HN313</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7000720003"/>
                </identifiers>
                <balance>2729</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000721085"/>
                <valUSD>132829.18</valUSD>
                <pctVal>0.894259977315</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>INTERNATIONAL CONTAINER TERMINAL SERVICES INC</name>
                <lei>254900FU1MWK0I0Q4J61</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="PHY411571011"/>
                </identifiers>
                <balance>30450</balance>
                <units>NS</units>
                <currencyConditional curCd="PHP" exchangeRt=".017143102"/>
                <valUSD>233859.34</valUSD>
                <pctVal>1.574436039455</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"/>
                </identifiers>
                <balance>1290</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000721085"/>
                <valUSD>95159.36</valUSD>
                <pctVal>0.640651452602</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>FAR EASTONE TELECOMMUNICATIONS</name>
                <lei>529900L7W7BWDLVZL253</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0004904008"/>
                </identifiers>
                <balance>43000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".033503644"/>
                <valUSD>117701.65</valUSD>
                <pctVal>0.792415302563</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>BHARTI AIRTEL LTD</name>
                <lei>335800KQ1FPKOQ84OR26</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y0885K108</cusip>
                <identifiers>
                    <isin value="INE397D01024"/>
                </identifiers>
                <balance>16532</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011415688"/>
                <valUSD>361274.65</valUSD>
                <pctVal>2.432247645536</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>CTBC FINANCIAL HOLDING CO LTD</name>
                <lei>549300IWDYIFW6JXM387</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y15093100</cusip>
                <identifiers>
                    <isin value="TW0002891009"/>
                </identifiers>
                <balance>68000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".033503644"/>
                <valUSD>93977.72</valUSD>
                <pctVal>0.632696172297</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ASIA VITAL COMPONENTS CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0003017000"/>
                </identifiers>
                <balance>9000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".033503644"/>
                <valUSD>278314.77</valUSD>
                <pctVal>1.873728046101</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>ULTRATECH CEMENT LTD</name>
                <lei>335800PC9O9B4BQHG814</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE481G01011"/>
                </identifiers>
                <balance>1849</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011415688"/>
                <valUSD>258547.08</valUSD>
                <pctVal>1.740643930013</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"/>
                </identifiers>
                <balance>69227</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011415688"/>
                <valUSD>264149.03</valUSD>
                <pctVal>1.778358532181</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>POWSZECHNA KASA OSZCZEDNOSCI BANK POLSKI SA</name>
                <lei>P4GTT6GF1W40CVIMFR43</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="PLPKO0000016"/>
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                <balance>10534</balance>
                <units>NS</units>
                <currencyConditional curCd="PLN" exchangeRt=".266841003"/>
                <valUSD>231562.2</valUSD>
                <pctVal>1.558970760182</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>COFORGE LTD</name>
                <lei>3358004YL9JGBNP4KF72</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE591G01025"/>
                </identifiers>
                <balance>8884</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".011415688"/>
                <valUSD>177297.15</valUSD>
                <pctVal>1.193636408333</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>EMAAR PROPERTIES PJSC</name>
                <lei>254900YWYEXYXK1BMP81</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="AEE000301011"/>
                </identifiers>
                <balance>69030</balance>
                <units>NS</units>
                <currencyConditional curCd="AED" exchangeRt=".272253304"/>
                <valUSD>286603.1</valUSD>
                <pctVal>1.929528449279</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>AE</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>ITAU UNIBANCO HOLDING SA</name>
                <lei>5493002W2IVG62O3ZJ94</lei>
                <title>PREFERRED</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BRITUBACNPR1"/>
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                <balance>45300</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".178585779"/>
                <valUSD>284442.14</valUSD>
                <pctVal>1.914979989064</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"/>
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                <balance>457132.54</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>457132.54</valUSD>
                <pctVal>3.077601885747</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>2025-09-10</ncom:dateSigned>
            <ncom:nameOfApplicant>Putnam ETF Trust</ncom:nameOfApplicant>
            <ncom:signature>Monica Krogh</ncom:signature>
            <ncom:signerName>Kevin R Blatchford</ncom:signerName>
            <ncom:title>Assistant Treasurer</ncom:title>
        </signature>
    </formData>
    <documents>XXXX</documents>
</edgarSubmission>
