# EDGAR Filing Document

**Accession Number:** 0001137360
**File Stem:** 0001752724-23-072033
**Filing Date:** 2023-3
**Character Count:** 188517
**Document Hash:** 2c3559d4c9b36e03b8a5f2eac3b99de0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-072033.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0001752724-23-072033

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230329

**DATE AS OF CHANGE**: 20230329

**PERIOD START**: 20230430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VanEck ETF Trust
- **CENTRAL INDEX KEY:** 0001137360
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10325
- **FILM NUMBER:** 23774165

**BUSINESS ADDRESS:**
- **STREET 1:** 666 THIRD AVENUE, 9TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 212-293-2000

**MAIL ADDRESS:**
- **STREET 1:** 666 THIRD AVENUE, 9TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VanEck Vectors ETF Trust
- **DATE OF NAME CHANGE:** 20160427

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MARKET VECTORS ETF TRUST
- **DATE OF NAME CHANGE:** 20070312

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MARKET VECTORS TRUST
- **DATE OF NAME CHANGE:** 20050516

## Series and Classes Contracts Data

### VanEck J.P. Morgan EM Local Currency Bond ETF (Series ID: S000028941)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000088891 | VanEck J.P. Morgan EM Local Currency Bond ETF | EMLC            |

## Nport-Ex

VANECK J.P. MORGAN EM LOCAL CURRENCY BOND ETF

SCHEDULE OF INVESTMENTS

January 31, 2023 (unaudited)

---

| | | | |
|:---|:---|:---|:---|
| | | **Par**<br>**(000's** |<br>**Value** |
| **CORPORATE BONDS: 5.2%** |  |  |  |
| **Cayman Islands: 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;QNB Finance Ltd.<br> 13.50%, 10/06/25 | TRY | 76700 | $2552113 |
| **China: 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asian Infrastructure<br> Investment Bank Reg S<br> 4.50%, 11/03/23 <br>| MXN | 288550 | 14511763 |
| **Colombia: 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Empresas Publicas de<br> Medellin ESP Reg S<br> 7.62%, 09/10/24 <br>| COP | 3596000 | 697104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financiera de Desarrollo<br> Territorial SA Findeter Reg S<br> 7.88%, 08/12/24 <br>| COP | 12300000 | 2428766 |
|  |  |  | 3125870 |
| **Indonesia: 0.5%** |  |  |  |
| Perusahaan Penerbit SBSN |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 07/15/26 | IDR | 26690000 | 1695340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 03/15/34 | IDR | 40420000 | 2580517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.62%, 10/15/24 | IDR | 26350000 | 1768248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 09/15/23 | IDR | 34639000 | 2348442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.88%, 11/15/31 | IDR | 96300000 | 7207321 |
|  |  |  | 15599868 |
| **Mexico: 0.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Petroleos Mexicanos Reg S<br> 7.19%, 09/12/24 <br>| MXN | 27530 | 1359697 |
| **South Africa: 0.2%** |  |  |  |
| Eskom Holdings SOC Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.01%, 08/18/27 | ZAR | 85355 | 2520398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 09/15/33 | ZAR | 11000 | 468434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.85%, 04/02/26 | ZAR | 24350 | 1356301 |
| Transnet SOC Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.50%, 08/19/25 | ZAR | 21000 | 1208199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.50%, 04/18/28 | ZAR | 5150 | 335434 |
|  |  |  | 5888766 |
| **Supranational: 2.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;European Bank for<br> Reconstruction & Development<br> 0.25%, 11/20/23 <br>| PLN | 8630 | 1863989 |
| European Investment Bank |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 01/30/25 | MXN | 26100 | 1330461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.12%, 12/21/26 | ZAR | 208895 | 12151929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;European Investment Bank 144A<br> 5.75%, 01/24/25 <br>| IDR | 51750000 | 3454615 |
| European Investment Bank Reg S |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 08/25/26 | PLN | 37610 | 7586539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 05/24/24 | PLN | 52512 | 11497542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 05/05/27 | ZAR | 18185 | 1049033 |
| &nbsp;&nbsp;&nbsp;Inter-American<br> Development Bank |  |  |  |

---

---

| | | | |
|:---|:---|:---|:---|
| | | **Par**<br>**(000's** |<br>**Value** |
| **Supranational (continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 12/05/24 | MXN | 264235 | $13218777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inter-American<br> Development Bank Reg S<br> 7.70%, 02/12/24 <br>| MXN | 54300 | 2754570 |
| &nbsp;&nbsp;&nbsp;International Bank for<br> Reconstruction & Development |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 07/23/25 | PHP | 35400 | 599845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 03/15/24 | IDR | 32100000 | 2175381 |
| International Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 02/14/24 | BRL | 1800 | 339074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 07/20/27 | MXN | 206160 | 10029465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 02/02/24 | MXN | 27780 | 1433478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 01/18/28 | MXN | 114480 | 5694771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 01/18/30 | MXN | 159430 | 7886697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 10/09/23 | IDR | 17500000 | 1187834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 07/27/27 | ZAR | 3050 | 175659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International Finance Corp. Reg S<br> 8.38%, 05/31/29 <br>| MXN | 120340 | 5899220 |
|  |  |  | 90328879 |
| **United Kingdom: 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;European Bank for Reconstruction & Development<br> 12.50%, 02/09/23  | TRY | 8415 | 446938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;European Bank for<br> Reconstruction & Development Reg S<br> 5.08%, 12/15/25 <br>| MXN | 191040 | 8973586 |
|  |  |  | 9420524 |
| **United States: 0.6%** |  |  |  |
| International Bank for Reconstruction & Development |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.65%, 07/30/24 | MXN | 204000 | 10409247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.25%, 02/22/23 | TRY | 32890 | 1739788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International Finance Corp.<br> 5.75%, 03/02/23 <br>| MXN | 120110 | 6388603 |
|  |  |  | 18537638 |
| **Total Corporate Bonds**<br> (Cost: $178,819,400) |  |  | 161325118 |
| **GOVERNMENT OBLIGATIONS: 92.4%** | **GOVERNMENT OBLIGATIONS: 92.4%** | **GOVERNMENT OBLIGATIONS: 92.4%** |  |
| **Brazil: 8.1%** | **Brazil: 8.1%** | **Brazil: 8.1%** |  |
| &nbsp;&nbsp;&nbsp;Brazil Letras do Tesouro<br> Nacional |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00%, 01/01/24 ^ | BRL | 411330 | 72058459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00%, 07/01/24 ^ | BRL | 133570 | 22028572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00%, 07/01/25 ^ | BRL | 165770 | 24361653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00%, 01/01/26 ^ | BRL | 259320 | 35755418 |
| Brazil Notas do Tesouro Nacional, Series F |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.00%, 01/01/25 | BRL | 157085 | 29444008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.00%, 01/01/27 | BRL | 164690 | 29701648 |

---

VANECK J.P. MORGAN EM LOCAL CURRENCY BOND ETF

SCHEDULE OF INVESTMENTS

(unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| | | **Par**<br>**(000's** |<br>**Value** |
| **Brazil (continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.00%, 01/01/29 | BRL | 115350 | $20028778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.00%, 01/01/31 | BRL | 59510 | 10031589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.00%, 01/01/33 | BRL | 22470 | 3701109 |
| Brazilian Government International Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 01/05/24 | BRL | 4670 | 885231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.25%, 01/10/28 | BRL | 7380 | 1344865 |
|  |  |  | 249341330 |
| **Chile: 3.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Bonos de la Tesoreria de<br> la Republica de Chile |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 03/01/25 | CLP | 20610000 | 23797586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 03/01/26 | CLP | 13420000 | 16094973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 03/01/35 | CLP | 15335000 | 18404528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 01/01/43 | CLP | 12530000 | 16709153 |
| &nbsp;&nbsp;&nbsp;Bonos de la Tesoreria de la Republica de<br> Chile 144A Reg S |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 10/01/28 | CLP | 3865000 | 4096730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 09/01/30 | CLP | 14355000 | 17117239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/01/28 | CLP | 5570000 | 6807173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bonos de la Tesoreria de<br> la Republica en pesos 144A Reg S<br> 7.00%, 05/01/34 <br>| CLP | 3635000 | 5142188 |
|  |  |  | 108169570 |
| **China: 10.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asian Infrastructure<br> Investment Bank/The Reg S<br> 5.00%, 03/05/26 <br>| MXN | 34030 | 1586323 |
| China Government Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.99%, 04/09/25 | CNY | 86650 | 12700583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.18%, 08/25/25 | CNY | 36600 | 5370707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.24%, 05/25/25 | CNY | 13780 | 2027202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.26%, 02/24/25 | CNY | 33710 | 4966571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.28%, 11/25/25 | CNY | 22440 | 3298925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.37%, 01/20/27 | CNY | 21070 | 3083154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.44%, 10/15/27 | CNY | 31700 | 4634461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.47%, 09/02/24 | CNY | 59830 | 8864207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.48%, 04/15/27 | CNY | 33690 | 4939516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 07/25/27 | CNY | 15300 | 2241981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 09/01/32 | CNY | 41300 | 5954314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.62%, 09/25/29 | CNY | 41360 | 6027312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.64%, 01/15/28 | CNY | 8130 | 1200222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.68%, 05/21/30 | CNY | 63520 | 9269560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.69%, 08/12/26 | CNY | 50590 | 7504969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.69%, 08/15/32 | CNY | 42800 | 6220135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 06/15/29 | CNY | 25200 | 3710681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 02/17/32 | CNY | 47160 | 6885805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.76%, 05/15/32 | CNY | 35010 | 5121139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.79%, 12/15/29 | CNY | 12570 | 1854497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 03/24/29 | CNY | 40870 | 6038870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 11/15/32 | CNY | 21930 | 3220455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.84%, 04/08/24 | CNY | 56420 | 8412608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.85%, 06/04/27 | CNY | 107800 | 16046903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 11/05/23 | CNY | 61500 | 9162879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.89%, 11/18/31 | CNY | 34580 | 5124975 |

---

---

| | | | |
|:---|:---|:---|:---|
| | | **Par**<br>**(000's** |<br>**Value** |
| **China (continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.91%, 10/14/28 | CNY | 52370 | $7807534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.94%, 10/17/24 | CNY | 43320 | 6480016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.01%, 05/13/28 | CNY | 53360 | 8000246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.02%, 10/22/25 | CNY | 72820 | 10929385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.02%, 05/27/31 | CNY | 56270 | 8453265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.03%, 03/11/26 | CNY | 53490 | 8032926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.12%, 12/05/26 | CNY | 62420 | 9411730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.12%, 10/25/52 | CNY | 6430 | 924763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 11/21/29 | CNY | 46240 | 6985200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.19%, 04/11/24 | CNY | 49610 | 7434635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.22%, 12/06/25 | CNY | 42740 | 6461506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 06/06/26 | CNY | 55180 | 8355583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 11/22/28 | CNY | 37190 | 5665617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.27%, 11/19/30 | CNY | 65890 | 10111171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.28%, 12/03/27 | CNY | 58120 | 8860443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.29%, 10/18/23 | CNY | 31530 | 4711625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.29%, 05/23/29 | CNY | 60330 | 9248596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.32%, 04/15/52 | CNY | 14840 | 2216581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.53%, 10/18/51 | CNY | 17060 | 2635716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.72%, 04/12/51 | CNY | 37290 | 5935445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.81%, 09/14/50 | CNY | 71340 | 11517765 |
|  |  |  | 305648702 |
| **Colombia: 4.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colombia Government<br> International Bond<br> 9.85%, 06/28/27 <br>| COP | 5434000 | 1068671 |
| Colombian TES |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 11/03/27 | COP | 49635000 | 8379185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 04/28/28 | COP | 84818100 | 14183456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 11/26/25 | COP | 52117000 | 9775983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 07/09/36 | COP | 29925000 | 3982227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 03/26/31 | COP | 81146000 | 12993451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 06/30/32 | COP | 73571700 | 11367076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 10/18/34 | COP | 72393500 | 10918774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 10/26/50 | COP | 51239000 | 6747975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 08/26/26 | COP | 79948700 | 15093065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 09/18/30 | COP | 56354100 | 9580470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.25%, 05/28/42 | COP | 50180000 | 8481656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.00%, 07/24/24 | COP | 49947800 | 10527665 |
|  |  |  | 123099654 |
| **Czech Republic: 4.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Czech Republic<br> Government Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.01%, 12/12/24 | CZK | 73860 | 3050211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.05%, 11/29/29 | CZK | 136130 | 4545388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.25%, 02/10/27 | CZK | 259020 | 9839305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.45%, 10/25/23 | CZK | 210890 | 9210760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.20%, 03/13/31 | CZK | 227070 | 7977632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.25%, 02/14/25 | CZK | 223740 | 9397563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 04/24/40 | CZK | 89960 | 2560861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 06/23/32 | CZK | 251330 | 9060719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 10/13/33 | CZK | 276960 | 9915826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 07/23/29 | CZK | 270250 | 10980388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 05/30/35 | CZK | 66540 | 2740446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 09/30/30 | CZK | 109700 | 5111759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 12/12/28 | CZK | 92980 | 4400069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 02/26/26 | CZK | 172870 | 8101402 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| | | **Par**<br>**(000's** |<br>**Value** |
| **Czech Republic (continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;Czech Republic<br> Government Bond Reg S |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.95%, 05/15/30 | CZK | 259290 | $9160081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00%, 06/26/26 | CZK | 270770 | 10854537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.40%, 09/17/25 | CZK | 258840 | 10958987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 08/25/28 | CZK | 260540 | 10599658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 12/04/36 | CZK | 137850 | 6048369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 05/25/24 | CZK | 156830 | 7164797 |
|  |  |  | 151678758 |
| **Dominican Republic: 1.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dominican Republic<br> International Bond<br> 13.63%, 02/03/33 <br>| DOP | 195000 | 3584048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dominican Republic<br> International Bond 144A<br> 9.75%, 06/05/26  | DOP | 1112600 | 18625022 |
| &nbsp;&nbsp;&nbsp;Dominican Republic<br> International Bond Reg S |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.90%, 02/15/23 | DOP | 383690 | 6769738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.75%, 06/05/26 | DOP | 605190 | 10130934 |
|  |  |  | 39109742 |
| **Egypt: 2.0%** |  |  |  |
| Egypt Government Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.54%, 01/14/25 | EGP | 68196 | 1953303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.06%, 01/12/26 | EGP | 291850 | 8034561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.29%, 01/05/28 | EGP | 119540 | 3186531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.35%, 09/10/24 | EGP | 177305 | 5289900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.37%, 10/20/25 | EGP | 283459 | 7928859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.40%, 09/10/29 | EGP | 77710 | 2040997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.48%, 04/06/26 | EGP | 241890 | 6672257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.53%, 09/14/24 | EGP | 224260 | 6706534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.56%, 07/06/26 | EGP | 92989 | 2571568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.56%, 10/13/27 | EGP | 185120 | 4984794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.66%, 10/06/30 | EGP | 109730 | 2875762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.10%, 05/07/29 | EGP | 82280 | 2325405 |
| Egypt Treasury Bills |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00%, 02/14/23 ^ | EGP | 25000 | 824421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00%, 02/28/23 ^ | EGP | 77000 | 2519777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00%, 04/11/23 ^ | EGP | 25000 | 799558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.01%, 04/18/23 | EGP | 23000 | 732742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.01%, 05/02/23 | EGP | 30000 | 945711 |
|  |  |  | 60392680 |
| **Hungary: 3.9%** |  |  |  |
| Hungary Government Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00%, 11/26/25 † | HUF | 4369660 | 9485878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 04/22/26 | HUF | 3859680 | 8337050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 08/26/26 † | HUF | 2282320 | 4803942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 05/23/29 † | HUF | 2781280 | 5477011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 04/20/33 † | HUF | 3989480 | 6823463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 06/22/34 | HUF | 1231350 | 2018468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 10/24/24 | HUF | 3487430 | 8269446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 12/22/26 † | HUF | 2880470 | 6275739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 06/26/24 | HUF | 2430420 | 5972191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/27/27 | HUF | 3742450 | 8037644 |

---

---

| | | | |
|:---|:---|:---|:---|
| | | **Par**<br>**(000's** |<br>**Value** |
| **Hungary (continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 08/21/30 | HUF | 3560960 | $7210387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/27/38 | HUF | 2649370 | 4268357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 04/25/41 † | HUF | 1636080 | 2519257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 10/22/31 † | HUF | 4555750 | 8980214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 03/23/28 | HUF | 1938900 | 4448253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 11/24/32 † | HUF | 2105810 | 4582971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 06/24/25 | HUF | 3661160 | 8987959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 11/24/23 † | HUF | 2726310 | 7123963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 10/22/28 | HUF | 2281460 | 5809088 |
|  |  |  | 119431281 |
| **Indonesia: 9.0%** |  |  |  |
| Indonesia Treasury Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.12%, 04/15/27 | IDR | 80635000 | 5178392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 04/15/26 | IDR | 191330000 | 12507417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.12%, 05/15/28 | IDR | 177351000 | 11658432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 06/15/36 | IDR | 76780000 | 4915149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 08/15/28 | IDR | 25040000 | 1667950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 04/15/32 | IDR | 129180000 | 8437203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 07/15/37 | IDR | 23540000 | 1519595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 06/15/25 | IDR | 205720000 | 13838821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 02/15/31 | IDR | 219000000 | 14460282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.62%, 05/15/33 | IDR | 117403000 | 7773661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 05/15/27 | IDR | 228808000 | 15668387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 09/15/30 | IDR | 221505000 | 15079481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 02/15/33 | IDR | 67075000 | 4560496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.12%, 06/15/42 | IDR | 131840000 | 8934161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.12%, 06/15/43 | IDR | 30010000 | 2048208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 08/15/32 | IDR | 134380000 | 9439500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 06/15/35 | IDR | 193930000 | 13638493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 05/15/38 | IDR | 97840000 | 6858199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 04/15/40 | IDR | 193720000 | 13580302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.12%, 05/15/24 | IDR | 115890000 | 7948013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 05/15/29 | IDR | 151220000 | 10953816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 06/15/32 | IDR | 102084000 | 7517782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 05/15/36 | IDR | 124785000 | 9291529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.38%, 03/15/24 | IDR | 154543000 | 10591299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.38%, 09/15/26 | IDR | 188417000 | 13435552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.38%, 03/15/34 | IDR | 202014000 | 15064126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.38%, 04/15/39 | IDR | 76360000 | 5777380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 05/15/31 | IDR | 86387000 | 6524841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 03/15/29 | IDR | 126882000 | 9525545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.50%, 07/15/31 | IDR | 47101000 | 3671898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.50%, 08/15/30 | IDR | 34962000 | 2860818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.00%, 09/15/25 | IDR | 34412000 | 2560331 |
|  |  |  | 277487059 |
| **Malaysia: 7.6%** |  |  |  |
| Malaysia Government Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 04/15/31 | MYR | 32284 | 6937612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.48%, 06/14/24 | MYR | 41233 | 9710799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 05/31/27 | MYR | 26779 | 6264145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.58%, 07/15/32 | MYR | 19865 | 4574988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.73%, 06/15/28 | MYR | 36477 | 8667413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.76%, 05/22/40 | MYR | 38295 | 8527799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.83%, 07/05/34 | MYR | 28210 | 6581380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 03/14/25 | MYR | 25584 | 6055794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 08/15/29 | MYR | 31349 | 7408025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 11/30/26 | MYR | 36806 | 8746336 |

---

VANECK J.P. MORGAN EM LOCAL CURRENCY BOND ETF

SCHEDULE OF INVESTMENTS

(unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| | | **Par**<br>**(000's** |<br>**Value** |
| **Malaysia (continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 11/16/27 | MYR | 33094 | $7863967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.91%, 07/15/26 | MYR | 16225 | 3855492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.96%, 09/15/25 | MYR | 31296 | 7435586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.06%, 09/30/24 | MYR | 17472 | 4150920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.07%, 06/15/50 | MYR | 41899 | 9406767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.18%, 07/15/24 | MYR | 9580 | 2277662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 05/31/35 | MYR | 24036 | 5738084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 04/30/29 | MYR | 10960 | 2684811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 10/15/42 | MYR | 17080 | 4276417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.76%, 04/07/37 | MYR | 38459 | 9641393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.89%, 06/08/38 | MYR | 20740 | 5338476 |
| &nbsp;&nbsp;&nbsp;Malaysia Government<br> Investment Issue |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.42%, 09/30/27 | MYR | 42393 | 9883515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.45%, 07/15/36 | MYR | 34694 | 7611574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.46%, 10/15/30 | MYR | 42125 | 9607037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 10/15/24 | MYR | 27500 | 6482894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.73%, 03/31/26 | MYR | 36611 | 8642287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.99%, 10/15/25 | MYR | 17960 | 4278248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.09%, 11/30/23 | MYR | 17504 | 4134921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 08/15/25 | MYR | 47332 | 11290524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 07/09/29 | MYR | 33040 | 7885487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.19%, 10/07/32 | MYR | 28940 | 6937398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.26%, 07/26/27 | MYR | 16226 | 3912611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.37%, 10/31/28 | MYR | 39719 | 9629501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.42%, 09/30/41 | MYR | 31822 | 7746072 |
|  |  |  | 234185935 |
| **Mexico: 5.6%** |  |  |  |
| Mexican Bonos |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 03/06/25 | MXN | 129109 | 6231226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 03/04/27 | MXN | 89717 | 4205919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 03/05/26 | MXN | 447250 | 21574686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 06/03/27 | MXN | 311502 | 15767785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 05/26/33 | MXN | 70881 | 3485792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 05/29/31 | MXN | 612195 | 30810001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 11/23/34 | MXN | 129077 | 6405794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 11/13/42 | MXN | 374644 | 18007243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 12/07/23 | MXN | 3251 | 169107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 09/05/24 | MXN | 103716 | 5336404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 11/07/47 | MXN | 383861 | 18831022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 07/31/53 | MXN | 109676 | 5385912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 05/31/29 | MXN | 129711 | 6844447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 11/18/38 | MXN | 330419 | 17206766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.00%, 12/05/24 | MXN | 111767 | 5963578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.00%, 11/20/36 | MXN | 108442 | 6393123 |
|  |  |  | 172618805 |
| **Peru: 3.5%** |  |  |  |
| Peru Government Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 08/12/40 | PEN | 31584 | 6041374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 08/12/34 | PEN | 43141 | 8965645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 08/12/24 | PEN | 24873 | 6325675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.94%, 02/12/29 | PEN | 63780 | 15091160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.15%, 08/12/32 | PEN | 62765 | 14290659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.35%, 08/12/28 | PEN | 60413 | 14739802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.90%, 08/12/37 | PEN | 61874 | 14314253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.95%, 08/12/31 | PEN | 60645 | 14802597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.20%, 08/12/26 | PEN | 46220 | 12410643 |
|  |  |  | 106981808 |

---

---

| | | | |
|:---|:---|:---|:---|
| | | **Par**<br>**(000's** |<br>**Value** |
| **Philippines: 1.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Philippine Government International Bond<br> 6.25%, 01/14/36  | PHP | 2203500 | $36935134 |
| **Poland: 4.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Republic of Poland<br> Government Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.25%, 10/25/26 | PLN | 68083 | 12766719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75%, 04/25/25 | PLN | 54987 | 11349470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.25%, 10/25/30 | PLN | 68999 | 11414094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 04/25/32 | PLN | 65418 | 10666617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 10/25/24 | PLN | 67419 | 14605932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 04/25/24 | PLN | 8233 | 1821359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 07/25/26 | PLN | 48960 | 10055937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 07/25/27 | PLN | 60251 | 12050755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 04/25/28 | PLN | 68901 | 13654806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 10/25/29 | PLN | 87506 | 16808458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 07/25/25 | PLN | 71572 | 15459968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 05/25/27 | PLN | 54495 | 11541093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 10/25/23 | PLN | 34925 | 7947624 |
|  |  |  | 150142832 |
| **Romania: 4.1%** |  |  |  |
| Romania Government Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 10/25/27 | RON | 29320 | 5270931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 04/29/24 | RON | 32160 | 6825478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 06/24/26 | RON | 34865 | 6806037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 11/25/25 | RON | 10610 | 2131630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 07/28/25 | RON | 35365 | 7233546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 09/24/31 † | RON | 38185 | 6537596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 11/25/24 | RON | 31745 | 6652022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 10/25/23 | RON | 29840 | 6464055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 01/26/28 | RON | 32755 | 6301856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 10/24/30 | RON | 36360 | 6556767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 04/28/36 | RON | 16750 | 2731882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40%, 09/25/23 | RON | 29535 | 6428166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 06/17/24 | RON | 33280 | 7139534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 02/24/25 | RON | 35095 | 7418373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 10/11/34 | RON | 33865 | 5922984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 04/22/26 | RON | 34520 | 7102243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 07/25/29 | RON | 29335 | 5633983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/12/29 | RON | 37930 | 7410868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 07/26/27 | RON | 34700 | 7237307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.70%, 02/25/32 | RON | 33825 | 7160714 |
|  |  |  | 124965972 |
| **Serbia: 1.2%** |  |  |  |
| Serbia Treasury Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 01/11/26 | RSD | 1512740 | 13442587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 08/20/32 | RSD | 1503080 | 11688284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 02/08/28 | RSD | 1376800 | 12586247 |
|  |  |  | 37717118 |
| **South Africa: 6.2%** |  |  |  |
| Republic of South Africa Government Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 03/31/36 | ZAR | 167452 | 6484291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 02/28/41 | ZAR | 162908 | 5943762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 02/28/31 | ZAR | 260920 | 12454242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 01/31/30 | ZAR | 564925 | 29713874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 03/31/32 | ZAR | 444041 | 22414185 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| | | **Par**<br>**(000's** |<br>**Value** |
| **South Africa (continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 01/31/37 | ZAR | 406752 | $18950627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 01/31/44 | ZAR | 353237 | 16005387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 02/28/48 | ZAR | 567994 | 25815993 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.88%, 02/28/35 | ZAR | 392654 | 19472191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 01/31/40 | ZAR | 313746 | 14861411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.50%, 12/21/26 | ZAR | 300937 | 18648756 |
|  |  |  | 190764719 |
| **Thailand: 7.4%** |  |  |  |
| Thailand Government Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75%, 06/17/24 | THB | 382791 | 11447754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75%, 09/17/24 | THB | 402873 | 12011551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.95%, 06/17/25 | THB | 364753 | 10835444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00%, 06/17/27 | THB | 488996 | 14166722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.45%, 12/17/24 | THB | 381016 | 11472853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.58%, 12/17/35 | THB | 326627 | 8656880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.60%, 12/17/29 | THB | 318184 | 9248366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.60%, 06/17/35 | THB | 166964 | 4461454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 12/17/31 | THB | 310619 | 9096213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 06/17/42 | THB | 238973 | 6172208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.12%, 12/17/26 | THB | 396014 | 12070443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.35%, 06/17/26 | THB | 133170 | 4101132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.40%, 12/17/23 | THB | 269346 | 8244217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 06/17/28 | THB | 145120 | 4518672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 12/17/28 | THB | 367230 | 11567634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 06/17/46 | THB | 283526 | 8162951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 06/17/38 | THB | 383590 | 12120361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35%, 06/17/33 | THB | 72800 | 2365251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.39%, 06/17/37 | THB | 92445 | 2977793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 06/17/36 | THB | 289233 | 9394233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.45%, 06/17/43 | THB | 52455 | 1665224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 06/20/31 | THB | 314808 | 10421755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.77%, 06/25/32 | THB | 573741 | 19243036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 12/12/25 | THB | 319921 | 10242964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 06/22/29 | THB | 364412 | 12803943 |
|  |  |  | 227469054 |
| **Turkey: 2.7%** |  |  |  |
| Turkey Government Bond |  |  |  |

---

---

| | | | |
|:---|:---|:---|:---|
| | | **Par**<br>**(000's** |<br>**Value** |
| **Turkey (continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 03/12/25 | TRY | 124078 | $6464285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 07/24/24 | TRY | 121043 | 6383385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.40%, 03/20/24 | TRY | 52221 | 2788655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.50%, 08/11/27 | TRY | 153627 | 8236508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.60%, 02/11/26 | TRY | 203200 | 10942910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.00%, 02/24/27 | TRY | 131404 | 7083472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.70%, 11/13/30 | TRY | 301907 | 19356202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.40%, 03/08/28 | TRY | 86392 | 5244925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.60%, 10/01/25 | TRY | 294311 | 17163774 |
|  |  |  | 83664116 |
| **Uruguay: 1.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Uruguay Government<br> International Bond<br> 8.25%, 05/21/31  | UYU | 1016793 | 23736563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Uruguay Government<br> International Bond 144A<br> 8.50%, 03/15/28  | UYU | 21015 | 506082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Uruguay Government<br> International Bond Reg S<br> 8.50%, 03/15/28  | UYU | 613686 | 14778765 |
|  |  |  | 39021410 |
| **Total Government Obligations**<br> (Cost: $3,188,576,289) | **Total Government Obligations**<br> (Cost: $3,188,576,289) |  | 2838825679 |
| **Total Investments Before Collateral for<br> Securities Loaned: 97.6%**<br> (Cost: $3,367,395,689) | **Total Investments Before Collateral for<br> Securities Loaned: 97.6%**<br> (Cost: $3,367,395,689) | **Total Investments Before Collateral for<br> Securities Loaned: 97.6%**<br> (Cost: $3,367,395,689) | 3000150797 |
|  |  | **Number<br> of Shares** |  |
| **SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 1.4%** | **SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 1.4%** | **SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 1.4%** | **SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 1.4%** |
| **Money Market Fund: 1.4%**<br> (Cost: $43,115,845) | **Money Market Fund: 1.4%**<br> (Cost: $43,115,845) | **Money Market Fund: 1.4%**<br> (Cost: $43,115,845) |  |
| State Street Navigator Securities Lending Government Money Market Portfolio |  | 43115845 | 43115845 |
| **Total Investments: 99.0%**<br> (Cost: $3,410,511,534) |  |  | 3043266642 |
| **Other assets less liabilities: 1.0%** |  |  | 29246755 |
| **NET ASSETS: 100.0%** |  |  | $3072513397 |

---

VANECK J.P. MORGAN EM LOCAL CURRENCY BOND ETF

SCHEDULE OF INVESTMENTS

(unaudited) (continued)

------

**Definitions:**

---

| | |
|:---|:---|
| BRL | Brazilian Real |
| CLP | Chilean Peso |
| CNY | Chinese Yuan |
| COP | Colombian Peso |
| CZK | Czech Koruna |
| DOP | Dominican Peso |
| EGP | Egyptian Pound |
| HUF | Hungarian Forint |
| IDR | Indonesian Rupiah |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| PEN | Peruvian Nuevo Sol |
| PHP | Philippine Peso |
| PLN | Polish Zloty |
| RON | Romanian Leu |
| RSD | Serbian Dinar |
| THB | Thai Baht |
| TRY | Turkish Lira |
| UYU | Uruguayan Peso |
| ZAR | South African Rand |

---

**Footnotes:**

---

| | |
|:---|:---|
| ^ | Zero Coupon Bond |
| † | Security fully or partially on loan. Total market value of securities on loan is $39,872,541. |
| Reg S | Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. |
| 144A | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended, or otherwise restricted. These securities may be resold in transactions exempt from registration, unless otherwise noted, and the value amounted $55,749,049, or 1.8% of net assets. |

---

---

| | | |
|:---|:---|:---|
| **Summary of Investments by Sector** | | |
| **Excluding Collateral for Securities Loaned** | **% of**<br>**Investments** |<br>**Value** |
| Government Activity | 95.6% | $2868937310 |
| Financials | 4.1 | 123267921 |
| Utilities | 0.2 | 5042237 |
| Industrials | 0.1 | 1543632 |
| Energy | 0.0 | 1359697 |
|  | 100.0% | $3000150797 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** VanEck ETF Trust

- **b. Investment Company Act file number:** 811-10325

- **c. CIK number of Registrant:** 0001137360

- **d. LEI of Registrant:** 549300ZLFKNTXC51ZN76

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 666 THIRD AVENUE, 9TH FLOOR

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10017

  - **Telephone number:** 212-293-2000

**Item A.2. Information about the Series.**

- **a. Name of Series:** VanEck J.P. Morgan EM Local Currency Bond ETF

- **b. EDGAR series identifier (if any):** S000028941

- **c. LEI of Series:** 549300CNWPR88MZBEA63

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-04-30

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $3123331716.23

**Total Liabilities:** $50970509.70

**Net Assets:** $3072361206.53

**Cash Not Reported:** $5503047.64

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -629.86000000 | **1-Year:** -12662.45000000 | **5-Year:** -17716.16000000 | **10-Year:** -2067.48000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -25.40000000 | **1-Year:** -1211.46000000 | **5-Year:** -1771.33000000 | **10-Year:** -239.17000000 | **30-Year:** -6.19000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000088891 | 6.55%                | 2.11%                | 3.72%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-13829597.68            | $172007713.47                              |
| Month 2  | $-23472121.88            | $64252905.98                               |
| Month 3  | $707474.13               | $91873007.24                               |

### Schedule of Portfolio Investments

| Name                         | Title                                                                       | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |      Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| EGYPT GOVERNMENT BOND        | Egypt Government Bond                                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     77710000 | PA      | $2040996.86   | 0.07%             | 2029-09-10      | Fixed         | 14.40%                | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     34580000 | PA      | $5124975.40   | 0.17%             | 2031-11-18      | Fixed         | 2.89%                 | No            |                  2 | On Loan: No      |
| BONOS TESORERIA PESOS        | Bonos de la Tesoreria de la Republica en pesos                              | CUSIP: 000000000<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |   3635000000 | PA      | $5222467.79   | 0.17%             | 2034-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA         | Colombian TES                                                               | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  54835000000 | PA      | $9257028.32   | 0.30%             | 2027-11-03      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT          | Malaysia Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     41233000 | PA      | $9710798.69   | 0.32%             | 2024-06-14      | Fixed         | 3.48%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 196750000000 | PA      | $13836814.54  | 0.45%             | 2035-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |     92445000 | PA      | $2977792.64   | 0.10%             | 2037-06-17      | Fixed         | 3.39%                 | No            |                  2 | On Loan: No      |
| LETRA TESOURO NACIONAL       | Brazil Letras do Tesouro Nacional                                           | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    268740000 | PA      | $37054261.47  | 1.21%             | 2026-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT          | Malaysia Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     11670000 | PA      | $2774562.79   | 0.09%             | 2024-07-15      | Fixed         | 4.18%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 191330000000 | PA      | $12507416.96  | 0.41%             | 2026-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT          | Malaysia Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     25584000 | PA      | $6055794.43   | 0.20%             | 2025-03-14      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     62420000 | PA      | $9411729.62   | 0.31%             | 2026-12-05      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    367230000 | PA      | $11567633.53  | 0.38%             | 2028-12-17      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT      | Mexican Bonos                                                               | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    129077100 | PA      | $6405794.38   | 0.21%             | 2034-11-23      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa     | Republic of South Africa Government Bond                                    | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    260920000 | PA      | $12454241.97  | 0.41%             | 2031-02-28      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TURKEY GOVERNMENT BOND       | Turkey Government Bond                                                      | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    182615000 | PA      | $9834347.57   | 0.32%             | 2026-02-11      | Fixed         | 10.60%                | No            |                  2 | On Loan: No      |
| European Investment Bank     | European Investment Bank                                                    | CUSIP: 000000000<br>LEI: 5493006YXS1U5GIHE750 | Long             | DBT              | NUSS              | XX        |    208895000 | PA      | $12151929.48  | 0.40%             | 2026-12-21      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| BONOS TESORERIA PESOS        | Bonos de la Tesoreria de la Republica en pesos                              | CUSIP: 000000000<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |  14735000000 | PA      | $17943353.05  | 0.58%             | 2030-09-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND      | Romania Government Bond                                                     | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     34865000 | PA      | $6806036.83   | 0.22%             | 2026-06-24      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  91607000000 | PA      | $6919109.10   | 0.23%             | 2031-05-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    402873000 | PA      | $12011551.34  | 0.39%             | 2024-09-17      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| TURKEY GOVERNMENT BOND       | Turkey Government Bond                                                      | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    294311000 | PA      | $17163773.80  | 0.56%             | 2025-10-01      | Fixed         | 12.60%                | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND      | Romania Government Bond                                                     | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     35365000 | PA      | $7233546.49   | 0.24%             | 2025-07-28      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA         | Colombian TES                                                               | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  52939000000 | PA      | $6971857.68   | 0.23%             | 2050-10-26      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 233138000000 | PA      | $15964898.31  | 0.52%             | 2027-05-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| INTL BK RECON & DEVELOP      | International Bank for Reconstruction & Development                         | CUSIP: 000000000<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | XX        |  32100000000 | PA      | $2175380.75   | 0.07%             | 2024-03-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SERBIA TREASURY BONDS        | Serbia Treasury Bonds                                                       | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |   1512740000 | PA      | $13442587.36  | 0.44%             | 2026-01-11      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BONOS TESORERIA PESOS        | Bonos de la Tesoreria de la Republica en pesos                              | CUSIP: 000000000<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |  13665000000 | PA      | $16717346.04  | 0.54%             | 2026-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     55180000 | PA      | $8355583.37   | 0.27%             | 2026-06-06      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| INTL FINANCE CORP            | International Finance Corp                                                  | CUSIP: 000000000<br>LEI: QKL54NQY28TCDAI75F60 | Long             | DBT              | NUSS              | XX        |    120110000 | PA      | $6388603.24   | 0.21%             | 2023-03-02      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CZECH REPUBLIC               | Czech Republic Government Bond                                              | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    109700000 | PA      | $5111759.13   | 0.17%             | 2030-09-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TURKEY GOVERNMENT BOND       | Turkey Government Bond                                                      | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    153627000 | PA      | $8236507.77   | 0.27%             | 2027-08-11      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 221505000000 | PA      | $15079481.15  | 0.49%             | 2030-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BONOS TESORERIA PESOS        | Bonos de la Tesoreria de la Republica en pesos                              | CUSIP: 000000000<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |  15835000000 | PA      | $19433582.34  | 0.63%             | 2035-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CZECH REPUBLIC               | Czech Republic Government Bond                                              | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    236070000 | PA      | $8293828.72   | 0.27%             | 2031-03-13      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND      | Romania Government Bond                                                     | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     32360000 | PA      | $7009946.57   | 0.23%             | 2023-10-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TURKEY GOVERNMENT BOND       | Turkey Government Bond                                                      | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |     81642000 | PA      | $4956548.95   | 0.16%             | 2028-03-08      | Fixed         | 12.40%                | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT          | Malaysia Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     31711000 | PA      | $7534185.62   | 0.25%             | 2025-09-15      | Fixed         | 3.96%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |     24230000 | PA      | $787225.88    | 0.03%             | 2033-06-17      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  76780000000 | PA      | $4915149.30   | 0.16%             | 2036-06-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BONOS DE TESORERIA           | Peru Government Bond                                                        | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     55754000 | PA      | $12898420.17  | 0.42%             | 2037-08-12      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 202014000000 | PA      | $15064126.03  | 0.49%             | 2034-03-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| BONOS DE TESORERIA           | Peru Government Bond                                                        | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     57125000 | PA      | $13943414.74  | 0.45%             | 2031-08-12      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT          | Malaysia Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     40735000 | PA      | $9071155.80   | 0.30%             | 2040-05-22      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     86650000 | PA      | $12700582.74  | 0.41%             | 2025-04-09      | Fixed         | 1.99%                 | No            |                  2 | On Loan: No      |
| Czech Republic               | Czech Republic Government Bond                                              | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    270250000 | PA      | $10980388.10  | 0.36%             | 2029-07-23      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND      | Hungary Government Bond                                                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   3770760000 | PA      | $9257021.65   | 0.30%             | 2025-06-24      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SERBIA TREASURY BONDS        | Serbia Treasury Bonds                                                       | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |   1465240000 | PA      | $11394031.34  | 0.37%             | 2032-08-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     72820000 | PA      | $10929385.19  | 0.36%             | 2025-10-22      | Fixed         | 3.02%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT          | Malaysia Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     36806000 | PA      | $8746335.82   | 0.28%             | 2026-11-30      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| EUROPEAN INVESTMENT BANK     | European Investment Bank                                                    | CUSIP: 29878TCZ5<br>LEI: 5493006YXS1U5GIHE750 | Long             | DBT              | NUSS              | XX        |  51750000000 | PA      | $3454614.58   | 0.11%             | 2025-01-24      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND      | Romania Government Bond                                                     | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     33825000 | PA      | $7160713.79   | 0.23%             | 2032-02-25      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 126882000000 | PA      | $9525545.53   | 0.31%             | 2029-03-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| EGYPT TREASURY BILL          | Egypt Treasury Bills                                                        | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | STIV             | NUSS              | EG        |     77000000 | PA      | $2519777.42   | 0.08%             | 2023-02-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     49610000 | PA      | $7434635.02   | 0.24%             | 2024-04-11      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    314808000 | PA      | $10421754.98  | 0.34%             | 2031-06-20      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| EUROPEAN BK RECON & DEV      | European Bank for Reconstruction & Development                              | CUSIP: 000000000<br>LEI: 549300HTGDOVDU6OGK19 | Long             | DBT              | NUSS              | XX        |      8415000 | PA      | $446938.25    | 0.01%             | 2023-02-09      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| CZECH REPUBLIC               | Czech Republic Government Bond                                              | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    172870000 | PA      | $8101401.50   | 0.26%             | 2026-02-26      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND       | Republic of Poland Government Bond                                          | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     54495000 | PA      | $11541092.55  | 0.38%             | 2027-05-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| EGYPT GOVERNMENT BOND        | Egypt Government Bond                                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    241890000 | PA      | $6672257.21   | 0.22%             | 2026-04-06      | Fixed         | 14.48%                | No            |                  2 | On Loan: No      |
| TURKEY GOVERNMENT BOND       | Turkey Government Bond                                                      | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    116124000 | PA      | $6259787.67   | 0.20%             | 2027-02-24      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  25040000000 | PA      | $1667949.65   | 0.05%             | 2028-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND      | Hungary Government Bond                                                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   3562430000 | PA      | $8447286.95   | 0.27%             | 2024-10-24      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Czech Republic               | Czech Republic Government Bond                                              | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    139670000 | PA      | $6128223.74   | 0.20%             | 2036-12-04      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| MALAYSIA INVESTMNT ISSUE     | Malaysia Government Investment Issue                                        | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     33040000 | PA      | $7885486.85   | 0.26%             | 2029-07-09      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| PERUSAHAAN PENERBIT SBSN     | Perusahaan Penerbit SBSN Indonesia                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | ID        |  26690000000 | PA      | $1695340.25   | 0.06%             | 2026-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ESKOM HOLDINGS SOC LTD       | Eskom Holdings SOC Ltd                                                      | CUSIP: 000000000<br>LEI: 3789001900ED06F65111 | Long             | DBT              | CORP              | ZA        |     85355000 | PA      | $2520398.10   | 0.08%             | 2027-08-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PERUSAHAAN PENERBIT SBSN     | Perusahaan Penerbit SBSN Indonesia                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | ID        |  15450000000 | PA      | $1049256.24   | 0.03%             | 2023-08-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT          | Malaysia Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     19005000 | PA      | $4376926.91   | 0.14%             | 2032-07-15      | Fixed         | 3.58%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT      | Mexican Bonos                                                               | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    374644400 | PA      | $18007243.23  | 0.59%             | 2042-11-13      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND      | Romania Government Bond                                                     | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     33865000 | PA      | $5922983.53   | 0.19%             | 2034-10-11      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| State Street Global Advisors | State Street Navigator Securities Lending Government Money Market Portfolio | CUSIP: 857492706<br>LEI: 5493008BJIBKQ5KTIF74 | Long             | STIV             | RF                | US        |     43059715 | NS      | $43059715.00  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Czech Republic               | Czech Republic Government Bond                                              | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    266340000 | PA      | $9409140.06   | 0.31%             | 2030-05-15      | Fixed         | 0.95%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND       | Republic of Poland Government Bond                                          | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     73847000 | PA      | $15951380.76  | 0.52%             | 2025-07-25      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     53490000 | PA      | $8032925.69   | 0.26%             | 2026-03-11      | Fixed         | 3.03%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND      | Hungary Government Bond                                                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   1092450000 | PA      | $2848810.53   | 0.09%             | 2023-08-23      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| CZECH REPUBLIC               | Czech Republic Government Bond                                              | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    230900000 | PA      | $9698298.40   | 0.32%             | 2025-02-14      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     52370000 | PA      | $7807534.32   | 0.25%             | 2028-10-14      | Fixed         | 2.91%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT      | Mexican Bonos                                                               | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    111766900 | PA      | $5963578.41   | 0.19%             | 2024-12-05      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     56270000 | PA      | $8453265.40   | 0.28%             | 2031-05-27      | Fixed         | 3.02%                 | No            |                  2 | On Loan: No      |
| Czech Republic               | Czech Republic Government Bond                                              | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    214320000 | PA      | $9360567.22   | 0.30%             | 2023-10-25      | Fixed         | 0.45%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 131840000000 | PA      | $8934160.91   | 0.29%             | 2042-06-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     35010000 | PA      | $5121138.62   | 0.17%             | 2032-05-15      | Fixed         | 2.76%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos          | Petroleos Mexicanos                                                         | CUSIP: 000000000<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     27530000 | PA      | $1359696.93   | 0.04%             | 2024-09-12      | Fixed         | 7.19%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND      | Hungary Government Bond                                                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   2281460000 | PA      | $5809088.26   | 0.19%             | 2028-10-22      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND       | Republic of Poland Government Bond                                          | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     54987000 | PA      | $11349469.84  | 0.37%             | 2025-04-25      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| EGYPT GOVERNMENT BOND        | Egypt Government Bond                                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     92989000 | PA      | $2571568.18   | 0.08%             | 2026-07-06      | Fixed         | 14.56%                | No            |                  2 | On Loan: No      |
| European Investment Bank     | European Investment Bank                                                    | CUSIP: 000000000<br>LEI: 5493006YXS1U5GIHE750 | Long             | DBT              | NUSS              | XX        |     18185000 | PA      | $1049032.68   | 0.03%             | 2027-05-05      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 151220000000 | PA      | $10953815.90  | 0.36%             | 2029-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND      | Romania Government Bond                                                     | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     37960000 | PA      | $7917238.58   | 0.26%             | 2027-07-26      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT          | Malaysia Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     38142000 | PA      | $9063038.76   | 0.29%             | 2028-06-15      | Fixed         | 3.73%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND      | Hungary Government Bond                                                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   2105810000 | PA      | $4582970.83   | 0.15%             | 2032-11-24      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| MALAYSIA INVESTMNT ISSUE     | Malaysia Government Investment Issue                                        | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     34694000 | PA      | $7611573.90   | 0.25%             | 2036-07-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL     | Brazil Notas do Tesouro Nacional Serie F                                    | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    115350000 | PA      | $20224053.41  | 0.66%             | 2029-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| MALAYSIA INVESTMNT ISSUE     | Malaysia Government Investment Issue                                        | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     37446000 | PA      | $8839394.30   | 0.29%             | 2026-03-31      | Fixed         | 3.73%                 | No            |                  2 | On Loan: No      |
| EGYPT GOVERNMENT BOND        | Egypt Government Bond                                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    177305000 | PA      | $5289900.31   | 0.17%             | 2024-09-10      | Fixed         | 14.35%                | No            |                  2 | On Loan: No      |
| SERBIA TREASURY BONDS        | Serbia Treasury Bonds                                                       | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |   1376800000 | PA      | $12586246.88  | 0.41%             | 2028-02-08      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT      | Mexican Bonos                                                               | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    383860700 | PA      | $18831021.69  | 0.61%             | 2047-11-07      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| INTER-AMERICAN DEVEL BK      | Inter-American Development Bank                                             | CUSIP: 000000000<br>LEI: VKU1UKDS9E7LYLMACP54 | Long             | DBT              | NUSS              | XX        |    264235000 | PA      | $13218777.53  | 0.43%             | 2024-12-05      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     25200000 | PA      | $3710681.14   | 0.12%             | 2029-06-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| BONOS TESORERIA PESOS        | Bonos de la Tesoreria de la Republica en pesos                              | CUSIP: 000000000<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |  21025000000 | PA      | $24558115.85  | 0.80%             | 2025-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| INTL FINANCE CORP            | International Finance Corp                                                  | CUSIP: 000000000<br>LEI: QKL54NQY28TCDAI75F60 | Long             | DBT              | NUSS              | XX        |     27780000 | PA      | $1433477.55   | 0.05%             | 2024-02-02      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BONOS TESORERIA PESOS        | Bonos de la Tesoreria de la Republica en pesos                              | CUSIP: 000000000<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |   3965000000 | PA      | $4242187.70   | 0.14%             | 2028-10-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Czech Republic               | Czech Republic Government Bond                                              | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    280700000 | PA      | $11252607.13  | 0.37%             | 2026-06-26      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| ESKOM HOLDINGS SOC LTD       | Eskom Holdings SOC Ltd                                                      | CUSIP: 000000000<br>LEI: 3789001900ED06F65111 | Long             | DBT              | CORP              | ZA        |     11000000 | PA      | $468434.12    | 0.02%             | 2033-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MALAYSIA INVESTMNT ISSUE     | Malaysia Government Investment Issue                                        | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     25660000 | PA      | $6151127.50   | 0.20%             | 2032-10-07      | Fixed         | 4.19%                 | No            |                  2 | On Loan: No      |
| BONOS DE TESORERIA           | Peru Government Bond                                                        | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     24873000 | PA      | $6325674.74   | 0.21%             | 2024-08-12      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa     | Republic of South Africa Government Bond                                    | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    560175040 | PA      | $29464033.88  | 0.96%             | 2030-01-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     40870000 | PA      | $6038870.50   | 0.20%             | 2029-03-24      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Indonesia Government         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 115890000000 | PA      | $7948012.98   | 0.26%             | 2024-05-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa     | Republic of South Africa Government Bond                                    | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    294536789 | PA      | $18252154.54  | 0.59%             | 2026-12-21      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND      | Romania Government Bond                                                     | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     35095000 | PA      | $6752057.09   | 0.22%             | 2028-01-26      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  30010000000 | PA      | $2048207.53   | 0.07%             | 2043-06-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| EGYPT GOVERNMENT BOND        | Egypt Government Bond                                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     68196000 | PA      | $1953303.27   | 0.06%             | 2025-01-14      | Fixed         | 13.54%                | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 177351000000 | PA      | $11658432.41  | 0.38%             | 2028-05-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| BONOS DE TESORERIA           | Peru Government Bond                                                        | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     43141000 | PA      | $8965644.68   | 0.29%             | 2034-08-12      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT      | Mexican Bonos                                                               | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |      3250900 | PA      | $169106.77    | 0.01%             | 2023-12-07      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |    107800000 | PA      | $16046902.88  | 0.52%             | 2027-06-04      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     33710000 | PA      | $4966570.86   | 0.16%             | 2025-02-24      | Fixed         | 2.26%                 | No            |                  2 | On Loan: No      |
| BONOS DE TESORERIA           | Peru Government Bond                                                        | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     46220000 | PA      | $12410643.59  | 0.40%             | 2026-08-12      | Fixed         | 8.20%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT      | Mexican Bonos                                                               | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     20269000 | PA      | $996790.55    | 0.03%             | 2033-05-26      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Eskom Holdings SOC Ltd       | Eskom Holdings SOC Ltd                                                      | CUSIP: 000000000<br>LEI: 3789001900ED06F65111 | Long             | DBT              | CORP              | ZA        |     24350000 | PA      | $1356301.22   | 0.04%             | 2026-04-02      | Fixed         | 7.85%                 | No            |                  2 | On Loan: No      |
| Czech Republic               | Czech Republic Government Bond                                              | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    259020000 | PA      | $9839304.96   | 0.32%             | 2027-02-10      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| EUROPEAN BK RECON & DEV      | European Bank for Reconstruction & Development                              | CUSIP: 000000000<br>LEI: 549300HTGDOVDU6OGK19 | Long             | DBT              | NUSS              | XX        |    191040000 | PA      | $8973586.26   | 0.29%             | 2025-12-15      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| TURKEY GOVERNMENT BOND       | Turkey Government Bond                                                      | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    284732000 | PA      | $18255059.25  | 0.59%             | 2030-11-13      | Fixed         | 11.70%                | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND      | Hungary Government Bond                                                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   4452160000 | PA      | $9664972.97   | 0.31%             | 2025-11-26      | Fixed         | 1.00%                 | No            |                  2 | On Loan: —       |
| INTL FINANCE CORP            | International Finance Corp                                                  | CUSIP: 000000000<br>LEI: QKL54NQY28TCDAI75F60 | Long             | DBT              | NUSS              | XX        |    159430000 | PA      | $7886696.81   | 0.26%             | 2030-01-18      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND      | Hungary Government Bond                                                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   1231350000 | PA      | $2018468.01   | 0.07%             | 2034-06-22      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     41360000 | PA      | $6027311.74   | 0.20%             | 2029-09-25      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    284561000 | PA      | $8709921.45   | 0.28%             | 2023-12-17      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND      | Romania Government Bond                                                     | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     34700000 | PA      | $7364554.88   | 0.24%             | 2024-04-29      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa     | Republic of South Africa Government Bond                                    | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    386854441 | PA      | $19184561.79  | 0.62%             | 2035-02-28      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND      | Hungary Government Bond                                                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   1636080000 | PA      | $2519257.15   | 0.08%             | 2041-04-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: —       |
| Republic of South Africa     | Republic of South Africa Government Bond                                    | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    167452000 | PA      | $6484291.05   | 0.21%             | 2036-03-31      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    335907000 | PA      | $8902836.29   | 0.29%             | 2035-12-17      | Fixed         | 1.59%                 | No            |                  2 | On Loan: No      |
| MALAYSIA INVESTMNT ISSUE     | Malaysia Government Investment Issue                                        | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     18291000 | PA      | $4410549.02   | 0.14%             | 2027-07-26      | Fixed         | 4.26%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     33690000 | PA      | $4939516.02   | 0.16%             | 2027-04-15      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| BONOS TESORERIA PESOS        | Bonos de la Tesoreria de la Republica en pesos                              | CUSIP: 000000000<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |   5740000000 | PA      | $7139687.40   | 0.23%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT      | Mexican Bonos                                                               | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    108442100 | PA      | $6393123.25   | 0.21%             | 2036-11-20      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT      | Mexican Bonos                                                               | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    311501700 | PA      | $15767785.25  | 0.51%             | 2027-06-03      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  23540000000 | PA      | $1519594.63   | 0.05%             | 2037-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     42800000 | PA      | $6220134.68   | 0.20%             | 2032-08-15      | Fixed         | 2.69%                 | No            |                  2 | On Loan: No      |
| QNB FINANCE LTD              | QNB Finance Ltd                                                             | CUSIP: 000000000<br>LEI: 549300MY0DXTHQEX5O57 | Long             | DBT              | CORP              | KY        |     76700000 | PA      | $2552113.45   | 0.08%             | 2025-10-06      | Fixed         | 13.50%                | No            |                  2 | On Loan: No      |
| Dominican Republic           | Dominican Republic International Bond                                       | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    605190000 | PA      | $10130933.92  | 0.33%             | 2026-06-05      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    396014000 | PA      | $12070442.54  | 0.39%             | 2026-12-17      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  76360000000 | PA      | $5777380.28   | 0.19%             | 2039-04-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    488996000 | PA      | $14166721.93  | 0.46%             | 2027-06-17      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| PERUSAHAAN PENERBIT SBSN     | Perusahaan Penerbit SBSN Indonesia                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | ID        |  40420000000 | PA      | $2580516.34   | 0.08%             | 2034-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MALAYSIA INVESTMNT ISSUE     | Malaysia Government Investment Issue                                        | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     31822000 | PA      | $7746072.26   | 0.25%             | 2041-09-30      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     46240000 | PA      | $6985200.49   | 0.23%             | 2029-11-21      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL     | Brazil Notas do Tesouro Nacional Serie F                                    | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    157085000 | PA      | $29711180.53  | 0.97%             | 2025-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| INTL FINANCE CORP            | International Finance Corp                                                  | CUSIP: 000000000<br>LEI: QKL54NQY28TCDAI75F60 | Long             | DBT              | NUSS              | XX        |    114480000 | PA      | $5694771.06   | 0.19%             | 2028-01-18      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  34412000000 | PA      | $2560330.85   | 0.08%             | 2025-09-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| FINDETER                     | Financiera de Desarrollo Territorial SA Findeter                            | CUSIP: 000000000<br>LEI: 54930036EU95I2CWYJ76 | Long             | DBT              | NUSS              | CO        |  12300000000 | PA      | $2428766.25   | 0.08%             | 2024-08-12      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Dominican Republic           | Dominican Republic International Bond                                       | CUSIP: 25714PEA2<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   1112600000 | PA      | $18625022.03  | 0.61%             | 2026-06-05      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT          | Malaysia Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     26779000 | PA      | $6264145.06   | 0.20%             | 2027-05-31      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |      9870000 | PA      | $1456156.40   | 0.05%             | 2029-12-15      | Fixed         | 2.79%                 | No            |                  2 | On Loan: No      |
| EGYPT GOVERNMENT BOND        | Egypt Government Bond                                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    119540000 | PA      | $3186531.56   | 0.10%             | 2028-01-05      | Fixed         | 14.29%                | No            |                  2 | On Loan: No      |
| Czech Republic               | Czech Republic Government Bond                                              | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    270540000 | PA      | $11454352.00  | 0.37%             | 2025-09-17      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    399780000 | PA      | $12631919.02  | 0.41%             | 2038-06-17      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| MALAYSIA INVESTMNT ISSUE     | Malaysia Government Investment Issue                                        | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     42775000 | PA      | $9755276.48   | 0.32%             | 2030-10-15      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY     | Uruguay Government International Bond                                       | CUSIP: 760942BC5<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |     21015000 | PA      | $506082.50    | 0.02%             | 2028-03-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT          | Malaysia Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |      3060000 | PA      | $787644.01    | 0.03%             | 2038-06-08      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| INTER-AMERICAN DEVEL BK      | Inter-American Development Bank                                             | CUSIP: 000000000<br>LEI: VKU1UKDS9E7LYLMACP54 | Long             | DBT              | NUSS              | XX        |     54300000 | PA      | $2754569.68   | 0.09%             | 2024-02-12      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     31530000 | PA      | $4711624.78   | 0.15%             | 2023-10-18      | Fixed         | 3.29%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND       | Republic of Poland Government Bond                                          | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     69299000 | PA      | $11463721.17  | 0.37%             | 2030-10-25      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 114184000000 | PA      | $8408863.20   | 0.27%             | 2032-06-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MALAYSIA INVESTMNT ISSUE     | Malaysia Government Investment Issue                                        | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     18134000 | PA      | $4283743.92   | 0.14%             | 2023-11-30      | Fixed         | 4.09%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    331124000 | PA      | $9624481.08   | 0.31%             | 2029-12-17      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 219000000000 | PA      | $14460282.19  | 0.47%             | 2031-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PHILIPPINES      | Philippine Government International Bond                                    | CUSIP: 718286BM8<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |   2203500000 | PA      | $36935133.76  | 1.20%             | 2036-01-14      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA         | Colombian TES                                                               | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  32515000000 | PA      | $4326887.02   | 0.14%             | 2036-07-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MALAYSIA INVESTMNT ISSUE     | Malaysia Government Investment Issue                                        | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     42393000 | PA      | $9883515.30   | 0.32%             | 2027-09-30      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND      | Hungary Government Bond                                                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   3889450000 | PA      | $8353355.67   | 0.27%             | 2027-10-27      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT      | Mexican Bonos                                                               | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    144724700 | PA      | $7636691.32   | 0.25%             | 2029-05-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     53360000 | PA      | $8000245.82   | 0.26%             | 2028-05-13      | Fixed         | 3.01%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    303533000 | PA      | $9858693.91   | 0.32%             | 2036-06-17      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| INTER-AMERICAN DEVEL BK      | Inter-American Development Bank                                             | CUSIP: 000000000<br>LEI: VKU1UKDS9E7LYLMACP54 | Long             | DBT              | NUSS              | XX        |  19170000000 | PA      | $1282599.67   | 0.04%             | 2023-03-14      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND      | Romania Government Bond                                                     | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     37930000 | PA      | $7410868.27   | 0.24%             | 2029-02-12      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    283526000 | PA      | $8162950.94   | 0.27%             | 2046-06-17      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND       | Republic of Poland Government Bond                                          | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     60251000 | PA      | $12050755.27  | 0.39%             | 2027-07-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BONOS DE TESORERIA           | Peru Government Bond                                                        | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     62220000 | PA      | $14722044.05  | 0.48%             | 2029-02-12      | Fixed         | 5.94%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  97840000000 | PA      | $6858198.91   | 0.22%             | 2038-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     56420000 | PA      | $8412607.64   | 0.27%             | 2024-04-08      | Fixed         | 2.84%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     37290000 | PA      | $5935444.71   | 0.19%             | 2051-04-12      | Fixed         | 3.72%                 | No            |                  2 | On Loan: No      |
| TURKEY GOVERNMENT BOND       | Turkey Government Bond                                                      | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |     99763000 | PA      | $5197508.84   | 0.17%             | 2025-03-12      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND       | Republic of Poland Government Bond                                          | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     89326000 | PA      | $17158050.41  | 0.56%             | 2029-10-25      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND      | Hungary Government Bond                                                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   2282320000 | PA      | $4803941.48   | 0.16%             | 2026-08-26      | Fixed         | 1.50%                 | No            |                  2 | On Loan: —       |
| ROMANIA GOVERNMENT BOND      | Romania Government Bond                                                     | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     30535000 | PA      | $6645811.32   | 0.22%             | 2023-09-25      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     58120000 | PA      | $8860443.14   | 0.29%             | 2027-12-03      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa     | Republic of South Africa Government Bond                                    | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    162907779 | PA      | $5943761.94   | 0.19%             | 2041-02-28      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND      | Romania Government Bond                                                     | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     26055000 | PA      | $5004036.75   | 0.16%             | 2029-07-25      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| LETRA TESOURO NACIONAL       | Brazil Letras do Tesouro Nacional                                           | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    138410000 | PA      | $22826792.40  | 0.74%             | 2024-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BONOS DE TESORERIA           | Peru Government Bond                                                        | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     31584000 | PA      | $6041374.10   | 0.20%             | 2040-08-12      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| INTL FINANCE CORP            | International Finance Corp                                                  | CUSIP: 000000000<br>LEI: QKL54NQY28TCDAI75F60 | Long             | DBT              | NUSS              | XX        |      1800000 | PA      | $339074.33    | 0.01%             | 2024-02-14      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND      | Hungary Government Bond                                                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   1938900000 | PA      | $4448252.50   | 0.14%             | 2028-03-23      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT      | Mexican Bonos                                                               | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    153465000 | PA      | $7406727.01   | 0.24%             | 2025-03-06      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     33900000 | PA      | $4974507.56   | 0.16%             | 2025-08-25      | Fixed         | 2.18%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     43320000 | PA      | $6480015.88   | 0.21%             | 2024-10-17      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 134380000000 | PA      | $9439500.24   | 0.31%             | 2032-08-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PERUSAHAAN PENERBIT SBSN     | Perusahaan Penerbit SBSN Indonesia                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | ID        |  26350000000 | PA      | $1768248.23   | 0.06%             | 2024-10-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT          | Malaysia Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     10960000 | PA      | $2684810.65   | 0.09%             | 2029-04-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 209100000000 | PA      | $14658481.92  | 0.48%             | 2040-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 117403000000 | PA      | $7773660.68   | 0.25%             | 2033-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     13780000 | PA      | $2027202.51   | 0.07%             | 2025-05-25      | Fixed         | 2.24%                 | No            |                  2 | On Loan: No      |
| EGYPT GOVERNMENT BOND        | Egypt Government Bond                                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    283459000 | PA      | $7928859.26   | 0.26%             | 2025-10-20      | Fixed         | 14.37%                | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT      | Mexican Bonos                                                               | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    103715800 | PA      | $5336403.93   | 0.17%             | 2024-09-05      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| INTL BK RECON & DEVELOP      | International Bank for Reconstruction & Development                         | CUSIP: 000000000<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | XX        |     35400000 | PA      | $599844.58    | 0.02%             | 2025-07-23      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND      | Romania Government Bond                                                     | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     32695000 | PA      | $6851090.13   | 0.22%             | 2024-11-25      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL     | Brazil Notas do Tesouro Nacional Serie F                                    | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    164690000 | PA      | $29981756.20  | 0.98%             | 2027-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT      | Mexican Bonos                                                               | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    622033700 | PA      | $31305169.43  | 1.02%             | 2031-05-29      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     17060000 | PA      | $2635716.51   | 0.09%             | 2051-10-18      | Fixed         | 3.53%                 | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY     | Uruguay Government International Bond                                       | CUSIP: 917288BM3<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |   1016793000 | PA      | $23736562.64  | 0.77%             | 2031-05-21      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MALAYSIA INVESTMNT ISSUE     | Malaysia Government Investment Issue                                        | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     18580000 | PA      | $4425938.02   | 0.14%             | 2025-10-15      | Fixed         | 3.99%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT          | Malaysia Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     24036000 | PA      | $5738083.81   | 0.19%             | 2035-05-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CZECH REPUBLIC               | Czech Republic Government Bond                                              | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |     93410000 | PA      | $2659071.21   | 0.09%             | 2040-04-24      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| INTL FINANCE CORP            | International Finance Corp                                                  | CUSIP: 000000000<br>LEI: QKL54NQY28TCDAI75F60 | Long             | DBT              | NUSS              | XX        |    120340000 | PA      | $5899220.43   | 0.19%             | 2029-05-31      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| EGYPT TREASURY BILL          | Egypt Treasury Bills                                                        | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | STIV             | NUSS              | EG        |     25000000 | PA      | $824420.60    | 0.03%             | 2023-02-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| INTL FINANCE CORP            | International Finance Corp                                                  | CUSIP: 000000000<br>LEI: QKL54NQY28TCDAI75F60 | Long             | DBT              | NUSS              | XX        |    206160000 | PA      | $10029464.68  | 0.33%             | 2027-07-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND      | Romania Government Bond                                                     | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     31950000 | PA      | $6573484.11   | 0.21%             | 2026-04-22      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa     | Republic of South Africa Government Bond                                    | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    406751700 | PA      | $18950626.47  | 0.62%             | 2037-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  80635000000 | PA      | $5178391.53   | 0.17%             | 2027-04-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA         | Colombian TES                                                               | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  60644100000 | PA      | $10309791.05  | 0.34%             | 2030-09-18      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL     | Brazil Notas do Tesouro Nacional Serie F                                    | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     22470000 | PA      | $3739064.62   | 0.12%             | 2033-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND      | Hungary Government Bond                                                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   3634460000 | PA      | $7359213.10   | 0.24%             | 2030-08-21      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     41300000 | PA      | $5954314.14   | 0.19%             | 2032-09-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT          | Malaysia Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     14858000 | PA      | $3500047.49   | 0.11%             | 2023-08-17      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Czech Republic               | Czech Republic Government Bond                                              | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    285830000 | PA      | $10233393.18  | 0.33%             | 2033-10-13      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ASIAN INFRASTRUCTURE INV     | Asian Infrastructure Investment Bank/The                                    | CUSIP: 000000000<br>LEI: 25490065OSV2524LCR32 | Long             | DBT              | NUSS              | XX        |     34030000 | PA      | $1586322.93   | 0.05%             | 2026-03-05      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EUROPEAN INVESTMENT BANK     | European Investment Bank                                                    | CUSIP: 000000000<br>LEI: 5493006YXS1U5GIHE750 | Long             | DBT              | NUSS              | XX        |     37610000 | PA      | $7586539.15   | 0.25%             | 2026-08-25      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND      | Hungary Government Bond                                                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   3989480000 | PA      | $6823463.09   | 0.22%             | 2033-04-20      | Fixed         | 2.25%                 | No            |                  2 | On Loan: —       |
| Republic of South Africa     | Republic of South Africa Government Bond                                    | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    351032364 | PA      | $15905477.33  | 0.52%             | 2044-01-31      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT          | Malaysia Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     32284000 | PA      | $6937611.48   | 0.23%             | 2031-04-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND      | Hungary Government Bond                                                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   4780750000 | PA      | $9423730.31   | 0.31%             | 2031-10-22      | Fixed         | 3.25%                 | No            |                  2 | On Loan: —       |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    319921000 | PA      | $10242964.06  | 0.33%             | 2025-12-12      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA         | Colombian TES                                                               | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  52207800000 | PA      | $11004013.03  | 0.36%             | 2024-07-24      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND       | Republic of Poland Government Bond                                          | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     10453000 | PA      | $2312482.10   | 0.08%             | 2024-04-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| TURKEY GOVERNMENT BOND       | Turkey Government Bond                                                      | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |     52221000 | PA      | $2788654.98   | 0.09%             | 2024-03-20      | Fixed         | 10.40%                | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     19730000 | PA      | $2900525.26   | 0.09%             | 2025-11-25      | Fixed         | 2.28%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND       | Republic of Poland Government Bond                                          | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     68083000 | PA      | $12766719.36  | 0.42%             | 2026-10-25      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    170664000 | PA      | $4560322.31   | 0.15%             | 2035-06-17      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| CZECH REPUBLIC               | Czech Republic Government Bond                                              | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    136130000 | PA      | $4545388.42   | 0.15%             | 2029-11-29      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     14840000 | PA      | $2216580.65   | 0.07%             | 2052-04-15      | Fixed         | 3.32%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     21070000 | PA      | $3083153.76   | 0.10%             | 2027-01-20      | Fixed         | 2.37%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND      | Romania Government Bond                                                     | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     38185000 | PA      | $6537596.30   | 0.21%             | 2031-09-24      | Fixed         | 3.65%                 | No            |                  2 | On Loan: —       |
| NOTA DO TESOURO NACIONAL     | Brazil Notas do Tesouro Nacional Serie F                                    | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     59510000 | PA      | $10132804.27  | 0.33%             | 2031-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    145120000 | PA      | $4518672.22   | 0.15%             | 2028-06-17      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| MALAYSIA INVESTMNT ISSUE     | Malaysia Government Investment Issue                                        | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     51842000 | PA      | $12366334.11  | 0.40%             | 2025-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    386776000 | PA      | $11566929.62  | 0.38%             | 2024-06-17      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 124785000000 | PA      | $9291529.39   | 0.30%             | 2036-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| EGYPT GOVERNMENT BOND        | Egypt Government Bond                                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    291850000 | PA      | $8034561.07   | 0.26%             | 2026-01-12      | Fixed         | 14.06%                | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT          | Malaysia Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     42779000 | PA      | $9604336.73   | 0.31%             | 2050-06-15      | Fixed         | 4.07%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT          | Malaysia Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     17080000 | PA      | $4276417.15   | 0.14%             | 2042-10-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA         | Colombian TES                                                               | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  54497000000 | PA      | $10222417.53  | 0.33%             | 2025-11-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 192517000000 | PA      | $13727913.36  | 0.45%             | 2026-09-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| INTL BK RECON & DEVELOP      | International Bank for Reconstruction & Development                         | CUSIP: 000000000<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | XX        |     32890000 | PA      | $1739787.54   | 0.06%             | 2023-02-22      | Fixed         | 13.25%                | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA         | Colombian TES                                                               | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  75123500000 | PA      | $11330526.95  | 0.37%             | 2034-10-18      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| EGYPT TREASURY BILL          | Egypt Treasury Bills                                                        | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | STIV             | NUSS              | EG        |     25000000 | PA      | $799557.66    | 0.03%             | 2023-04-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA         | Colombian TES                                                               | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  79948700000 | PA      | $15093065.33  | 0.49%             | 2026-08-26      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |      6430000 | PA      | $924762.71    | 0.03%             | 2052-10-25      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     47160000 | PA      | $6885805.50   | 0.22%             | 2032-02-17      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT          | Malaysia Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     16225000 | PA      | $3855491.59   | 0.13%             | 2026-07-15      | Fixed         | 3.91%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND       | Republic of Poland Government Bond                                          | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     67419000 | PA      | $14605931.88  | 0.48%             | 2024-10-25      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND      | Romania Government Bond                                                     | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |      2950000 | PA      | $592677.56    | 0.02%             | 2025-11-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT          | Malaysia Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     17472000 | PA      | $4150920.16   | 0.14%             | 2024-09-30      | Fixed         | 4.06%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    133170000 | PA      | $4101132.29   | 0.13%             | 2026-06-17      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| LETRA TESOURO NACIONAL       | Brazil Letras do Tesouro Nacional                                           | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    417040000 | PA      | $73058760.20  | 2.38%             | 2024-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA         | Colombian TES                                                               | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  76161700000 | PA      | $11767240.13  | 0.38%             | 2032-06-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT          | Malaysia Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     38459000 | PA      | $9641392.67   | 0.31%             | 2037-04-07      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| EGYPT GOVERNMENT BOND        | Egypt Government Bond                                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    185120000 | PA      | $4984793.59   | 0.16%             | 2027-10-13      | Fixed         | 14.56%                | No            |                  2 | On Loan: No      |
| Dominican Republic           | Dominican Republic International Bond                                       | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    383690000 | PA      | $6769738.06   | 0.22%             | 2023-02-15      | Fixed         | 8.90%                 | No            |                  2 | On Loan: No      |
| Czech Republic               | Czech Republic Government Bond                                              | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    160000000 | PA      | $7309619.02   | 0.24%             | 2024-05-25      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT          | Malaysia Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     29070000 | PA      | $6782018.02   | 0.22%             | 2034-07-05      | Fixed         | 3.83%                 | No            |                  2 | On Loan: No      |
| EUROPEAN INVESTMENT BANK     | European Investment Bank                                                    | CUSIP: 000000000<br>LEI: 5493006YXS1U5GIHE750 | Long             | DBT              | NUSS              | XX        |     52512000 | PA      | $11497542.51  | 0.37%             | 2024-05-24      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    238973000 | PA      | $6172208.40   | 0.20%             | 2042-06-17      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 154543000000 | PA      | $10591298.82  | 0.34%             | 2024-03-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| CZECH REPUBLIC               | Czech Republic Government Bond                                              | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |     66540000 | PA      | $2740445.89   | 0.09%             | 2035-05-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND      | Romania Government Bond                                                     | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     36905000 | PA      | $7800970.16   | 0.25%             | 2025-02-24      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 205720000000 | PA      | $13838821.45  | 0.45%             | 2025-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND       | Republic of Poland Government Bond                                          | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     37100000 | PA      | $8442572.86   | 0.27%             | 2023-10-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     15300000 | PA      | $2241980.66   | 0.07%             | 2027-07-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| EGYPT TREASURY BILL          | Egypt Treasury Bills                                                        | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | STIV             | NUSS              | EG        |     23000000 | PA      | $732741.80    | 0.02%             | 2023-04-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  47101000000 | PA      | $3671898.44   | 0.12%             | 2031-07-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND      | Hungary Government Bond                                                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   3108470000 | PA      | $6772487.72   | 0.22%             | 2026-12-22      | Fixed         | 2.75%                 | No            |                  2 | On Loan: —       |
| CZECH REPUBLIC               | Czech Republic Government Bond                                              | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |     92980000 | PA      | $4400069.36   | 0.14%             | 2028-12-12      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND      | Hungary Government Bond                                                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   2581420000 | PA      | $6343237.92   | 0.21%             | 2024-06-26      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MALAYSIA INVESTMNT ISSUE     | Malaysia Government Investment Issue                                        | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     41344000 | PA      | $10023467.47  | 0.33%             | 2028-10-31      | Fixed         | 4.37%                 | No            |                  2 | On Loan: No      |
| EUROPEAN INVESTMENT BANK     | European Investment Bank                                                    | CUSIP: 000000000<br>LEI: 5493006YXS1U5GIHE750 | Long             | DBT              | NUSS              | XX        |     26100000 | PA      | $1330461.38   | 0.04%             | 2025-01-30      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| EUROPEAN BK RECON & DEV      | European Bank for Reconstruction & Development                              | CUSIP: 000000000<br>LEI: 549300HTGDOVDU6OGK19 | Long             | DBT              | NUSS              | XX        |      8630000 | PA      | $1863988.62   | 0.06%             | 2023-11-20      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    382128000 | PA      | $11351589.76  | 0.37%             | 2025-06-17      | Fixed         | 0.95%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    573741000 | PA      | $19243035.89  | 0.63%             | 2032-06-25      | Fixed         | 3.78%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT      | Mexican Bonos                                                               | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    447250000 | PA      | $21574685.54  | 0.70%             | 2026-03-05      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND       | Republic of Poland Government Bond                                          | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     70381000 | PA      | $13948112.19  | 0.45%             | 2028-04-25      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     61500000 | PA      | $9162878.90   | 0.30%             | 2023-11-05      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Republic of Colombia         | Colombia Government International Bond                                      | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   5434000000 | PA      | $1068670.95   | 0.03%             | 2027-06-28      | Fixed         | 9.85%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     21930000 | PA      | $3220455.33   | 0.10%             | 2032-11-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| TRANSNET SOC LTD             | Transnet SOC Ltd                                                            | CUSIP: 000000000<br>LEI: 378900B07CD6F01EA796 | Long             | DBT              | CORP              | ZA        |     21000000 | PA      | $1208199.32   | 0.04%             | 2025-08-19      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT      | Mexican Bonos                                                               | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    109676000 | PA      | $5385912.48   | 0.18%             | 2053-07-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| PERUSAHAAN PENERBIT SBSN     | Perusahaan Penerbit SBSN Indonesia                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | ID        |  96300000000 | PA      | $7207321.22   | 0.23%             | 2031-11-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |      5420000 | PA      | $800147.78    | 0.03%             | 2028-01-15      | Fixed         | 2.64%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT      | Mexican Bonos                                                               | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    330419400 | PA      | $17206766.01  | 0.56%             | 2038-11-18      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BONOS DE TESORERIA           | Peru Government Bond                                                        | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     58033000 | PA      | $14159120.07  | 0.46%             | 2028-08-12      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| LETRA TESOURO NACIONAL       | Brazil Letras do Tesouro Nacional                                           | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    165770000 | PA      | $24361652.90  | 0.79%             | 2025-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MALAYSIA INVESTMNT ISSUE     | Malaysia Government Investment Issue                                        | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     27500000 | PA      | $6482893.55   | 0.21%             | 2024-10-15      | Fixed         | 3.66%                 | No            |                  2 | On Loan: No      |
| TURKEY GOVERNMENT BOND       | Turkey Government Bond                                                      | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    121043000 | PA      | $6383384.60   | 0.21%             | 2024-07-24      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     42740000 | PA      | $6461505.75   | 0.21%             | 2025-12-06      | Fixed         | 3.22%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa     | Republic of South Africa Government Bond                                    | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    439241388 | PA      | $22171892.07  | 0.72%             | 2032-03-31      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| EGYPT GOVERNMENT BOND        | Egypt Government Bond                                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    224260000 | PA      | $6706534.01   | 0.22%             | 2024-09-14      | Fixed         | 14.53%                | No            |                  2 | On Loan: No      |
| Czech Republic               | Czech Republic Government Bond                                              | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    260540000 | PA      | $10599657.99  | 0.35%             | 2028-08-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BONOS TESORERIA PESOS        | Bonos de la Tesoreria de la Republica en pesos                              | CUSIP: 000000000<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |  12765000000 | PA      | $17105483.48  | 0.56%             | 2043-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND      | Hungary Government Bond                                                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   3859680000 | PA      | $8337049.87   | 0.27%             | 2026-04-22      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| INTL FINANCE CORP            | International Finance Corp                                                  | CUSIP: 000000000<br>LEI: QKL54NQY28TCDAI75F60 | Long             | DBT              | NUSS              | XX        |      3050000 | PA      | $175658.90    | 0.01%             | 2027-07-27      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND      | Romania Government Bond                                                     | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     29320000 | PA      | $5270931.05   | 0.17%             | 2027-10-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND      | Hungary Government Bond                                                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   2726310000 | PA      | $7123962.99   | 0.23%             | 2023-11-24      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| INTL BK RECON & DEVELOP      | International Bank for Reconstruction & Development                         | CUSIP: 000000000<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | XX        |    204000000 | PA      | $10409246.81  | 0.34%             | 2024-07-30      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Transnet SOC Ltd             | Transnet SOC Ltd                                                            | CUSIP: 000000000<br>LEI: 378900B07CD6F01EA796 | Long             | DBT              | CORP              | ZA        |      5150000 | PA      | $335433.37    | 0.01%             | 2028-04-18      | Fixed         | 13.50%                | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND      | Hungary Government Bond                                                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   2831280000 | PA      | $5575473.17   | 0.18%             | 2029-05-23      | Fixed         | 2.00%                 | No            |                  2 | On Loan: —       |
| FED REPUBLIC OF BRAZIL       | Brazilian Government International Bond                                     | CUSIP: 105756BT6<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |      4670000 | PA      | $885231.20    | 0.03%             | 2024-01-05      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa     | Republic of South Africa Government Bond                                    | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    567994223 | PA      | $25815993.35  | 0.84%             | 2048-02-28      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| PERUSAHAAN PENERBIT SBSN     | Perusahaan Penerbit SBSN Indonesia                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | ID        |  34639000000 | PA      | $2348441.87   | 0.08%             | 2023-09-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     59830000 | PA      | $8864207.44   | 0.29%             | 2024-09-02      | Fixed         | 2.47%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     71340000 | PA      | $11517764.90  | 0.37%             | 2050-09-14      | Fixed         | 3.81%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  34962000000 | PA      | $2860817.64   | 0.09%             | 2030-08-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| CZECH REPUBLIC               | Czech Republic Government Bond                                              | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    256830000 | PA      | $9258999.65   | 0.30%             | 2032-06-23      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    310619000 | PA      | $9096213.37   | 0.30%             | 2031-12-17      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| EGYPT GOVERNMENT BOND        | Egypt Government Bond                                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    109730000 | PA      | $2875761.59   | 0.09%             | 2030-10-06      | Fixed         | 14.66%                | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     65890000 | PA      | $10111171.48  | 0.33%             | 2030-11-19      | Fixed         | 3.27%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     63520000 | PA      | $9269560.05   | 0.30%             | 2030-05-21      | Fixed         | 2.68%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND       | Republic of Poland Government Bond                                          | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     65418000 | PA      | $10666617.19  | 0.35%             | 2032-04-25      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     60330000 | PA      | $9248595.83   | 0.30%             | 2029-05-23      | Fixed         | 3.29%                 | No            |                  2 | On Loan: No      |
| INTL FINANCE CORP            | International Finance Corp                                                  | CUSIP: 000000000<br>LEI: QKL54NQY28TCDAI75F60 | Long             | DBT              | NUSS              | XX        |  17500000000 | PA      | $1187834.39   | 0.04%             | 2023-10-09      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| EMPRESAS PUBLIC MEDELLIN     | Empresas Publicas de Medellin ESP                                           | CUSIP: 000000000<br>LEI: 549300SU25TO8EMXB434 | Long             | DBT              | CORP              | CO        |   3596000000 | PA      | $697103.51    | 0.02%             | 2024-09-10      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| ASIAN INFRASTRUCTURE INV     | Asian Infrastructure Investment Bank/The                                    | CUSIP: 000000000<br>LEI: 25490065OSV2524LCR32 | Long             | DBT              | NUSS              | XX        |    288550000 | PA      | $14511762.74  | 0.47%             | 2023-11-03      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND      | Hungary Government Bond                                                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   2710370000 | PA      | $4366633.42   | 0.14%             | 2038-10-27      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY     | Uruguay Government International Bond                                       | CUSIP: 000000000<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    613686000 | PA      | $14778764.83  | 0.48%             | 2028-03-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     31700000 | PA      | $4634460.57   | 0.15%             | 2027-10-15      | Fixed         | 2.44%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA         | Colombian TES                                                               | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  50180000000 | PA      | $8481656.33   | 0.28%             | 2042-05-28      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND       | Republic of Poland Government Bond                                          | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     50640000 | PA      | $10400993.74  | 0.34%             | 2026-07-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT          | Malaysia Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     33094000 | PA      | $7863967.38   | 0.26%             | 2027-11-16      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     37190000 | PA      | $5665616.94   | 0.18%             | 2028-11-22      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    387601000 | PA      | $11671135.79  | 0.38%             | 2024-12-17      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND     | Thailand Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    372002000 | PA      | $13070624.18  | 0.43%             | 2029-06-22      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| FED REPUBLIC OF BRAZIL       | Brazilian Government International Bond                                     | CUSIP: 105756BN9<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |      7380000 | PA      | $1344864.74   | 0.04%             | 2028-01-10      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND      | Romania Government Bond                                                     | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     36010000 | PA      | $7725199.47   | 0.25%             | 2024-06-17      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BONOS DE TESORERIA           | Peru Government Bond                                                        | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     58515000 | PA      | $13322997.20  | 0.43%             | 2032-08-12      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND      | Romania Government Bond                                                     | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     36360000 | PA      | $6556767.02   | 0.21%             | 2030-10-24      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| EGYPT GOVERNMENT BOND        | Egypt Government Bond                                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     82280000 | PA      | $2325405.29   | 0.08%             | 2029-05-07      | Fixed         | 16.10%                | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  67075000000 | PA      | $4560495.92   | 0.15%             | 2033-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CZECH REPUBLIC               | Czech Republic Government Bond                                              | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |     73860000 | PA      | $3050211.20   | 0.10%             | 2024-12-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT         | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 129180000000 | PA      | $8437203.40   | 0.27%             | 2032-04-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA         | Colombian TES                                                               | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  81146000000 | PA      | $12993450.70  | 0.42%             | 2031-03-26      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA         | Colombian TES                                                               | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  84818100000 | PA      | $14183456.27  | 0.46%             | 2028-04-28      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT          | Malaysia Government Bond                                                    | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     33004000 | PA      | $7799114.95   | 0.25%             | 2029-08-15      | Fixed         | 3.89%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa     | Republic of South Africa Government Bond                                    | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    311635900 | PA      | $14761465.24  | 0.48%             | 2040-01-31      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND        | China Government Bond                                                       | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     50590000 | PA      | $7504968.98   | 0.24%             | 2026-08-12      | Fixed         | 2.69%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT      | Mexican Bonos                                                               | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     89717100 | PA      | $4205918.56   | 0.14%             | 2027-03-04      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-02

**Name of Applicant:** VanEck ETF Trust

**Signature:** James Parker

**Name of Signer:** James Parker

**Title:** Assistant Treasurer