# EDGAR Filing Document

**Accession Number:** 0001485894
**File Stem:** 0001752724-23-016757
**Filing Date:** 2023-1
**Character Count:** 197675
**Document Hash:** 285fc7dfea66b5fce38cbf43df37f687
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-016757.hdr.sgml**: 20230127

**ACCESSION NUMBER**: 0001752724-23-016757

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230127

**DATE AS OF CHANGE**: 20230127

**PERIOD START**: 20230228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** J.P. Morgan Exchange-Traded Fund Trust
- **CENTRAL INDEX KEY:** 0001485894
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22903
- **FILM NUMBER:** 23563263

**BUSINESS ADDRESS:**
- **STREET 1:** 277 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10172
- **BUSINESS PHONE:** (800) 480-4111

**MAIL ADDRESS:**
- **STREET 1:** 277 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10172

## Series and Classes Contracts Data

### JPMorgan USD Emerging Markets Sovereign Bond ETF (Series ID: S000060180)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000196949 | JPMorgan USD Emerging Markets Sovereign Bond ETF | JPMB            |

## Nport-Ex

**JPMorgan USD Emerging Markets Sovereign Bond ETF**

**Schedule of Portfolio Investments as of November 30, 2022**

**(Unaudited)** 

---

| |
|:---|
| &nbsp;&nbsp; THE "UNAUDITED MUTUAL FUNDS HOLDINGS" LIST ("the <br> List") IS TO BE USED FOR REPORTING PURPOSES ONLY. IT IS <br> NOT TO BE REPRODUCED FOR USE AS ADVERTISING OR <br> SALES LITERATURE WITH THE GENERAL PUBLIC. The list is <br> submitted for the general information of the shareholders of the Fund. <br> It is not authorized for distribution to prospective investors in the Fund <br> unless preceded or accompanied by a prospectus. The list has been <br> created from the books and records of the Fund. Holdings are <br> available 60 days after the fund's fiscal quarter, using a trade date <br> accounting convention, by contacting the appropriate service center. <br> The list is subject to change without notice. The list is for <br> informational purposes only and is not intended as an offer or <br> solicitation with respect to the purchase or sale of any security.<br>|
| &nbsp;&nbsp; JPMorgan Asset Management is the marketing name for the asset <br> management business of J.P. Morgan Chase & Co.<br>|
| J.P. Morgan Distribution Services, Inc., member FINRA. |
|© J.P. Morgan Chase & Co., 2022. |

---

------

**JPMorgan USD Emerging Markets Sovereign Bond ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL** <br>**AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Foreign Government Securities — 87.6%** | **Foreign Government Securities — 87.6%** | **Foreign Government Securities — 87.6%** |
| **Azerbaijan — 0.7%** | **Azerbaijan — 0.7%** | **Azerbaijan — 0.7%** |
| &nbsp;&nbsp;&nbsp; Republic of Azerbaijan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 9/1/2032 (a) | 1000 | 832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 3/18/2024 (b) | 200000 | 196225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 9/1/2032 (b) | 421000 | 350430 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 547487 |
| **Bahrain — 5.6%** | **Bahrain — 5.6%** | **Bahrain — 5.6%** |
| &nbsp;&nbsp;&nbsp; CBB International Sukuk Co. 7 SPC 6.88%, 10/5/2025 (b) | 200000 | 205850 |
| &nbsp;&nbsp;&nbsp; CBB International Sukuk Programme Co. SPC 4.50%, 3/30/2027 (a) (c) | 389000 | 375579 |
| &nbsp;&nbsp;&nbsp; Kingdom of Bahrain |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 8/1/2023 (b) | 250000 | 249578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 1/26/2026 (a) | 121000 | 123518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 1/26/2026 (b) | &nbsp;&nbsp;&nbsp; 517000 | &nbsp;&nbsp;&nbsp;&nbsp; 527760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 10/12/2028 (b) | &nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 401325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 10/12/2028 (a) | &nbsp;&nbsp;&nbsp; 402000 | &nbsp;&nbsp;&nbsp;&nbsp; 403332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 9/20/2029 (b) | &nbsp;&nbsp;&nbsp; 560000 | &nbsp;&nbsp;&nbsp;&nbsp; 555905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 9/30/2031 (b) | &nbsp;&nbsp;&nbsp; 334000 | &nbsp;&nbsp;&nbsp;&nbsp; 303940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 9/16/2032 (b) | &nbsp;&nbsp;&nbsp; 484000 | &nbsp;&nbsp;&nbsp;&nbsp; 424710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 1/25/2033 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 168750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 5/18/2034 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 170500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 9/19/2044 (b) | &nbsp;&nbsp;&nbsp; 228000 | &nbsp;&nbsp;&nbsp;&nbsp; 175603 |
|  |  | &nbsp;&nbsp; 4086350 |
| **Bolivia, Plurinational State of — 0.2%** | **Bolivia, Plurinational State of — 0.2%** | **Bolivia, Plurinational State of — 0.2%** |
| &nbsp;&nbsp;&nbsp; Plurinational State of Bolivia 4.50%, 3/20/2028 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 155600 |
| **Brazil — 7.1%** | **Brazil — 7.1%** | **Brazil — 7.1%** |
| &nbsp;&nbsp;&nbsp; Federative Republic of Brazil |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 4/15/2024 | &nbsp;&nbsp;&nbsp; 346000 | &nbsp;&nbsp;&nbsp;&nbsp; 363149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 1/7/2025 | &nbsp;&nbsp;&nbsp; 227000 | &nbsp;&nbsp;&nbsp;&nbsp; 222432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 6/6/2025 | &nbsp;&nbsp;&nbsp; 472000 | &nbsp;&nbsp;&nbsp;&nbsp; 446748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 4/7/2026 | &nbsp;&nbsp;&nbsp; 589000 | &nbsp;&nbsp;&nbsp;&nbsp; 608069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 1/13/2028 | &nbsp;&nbsp;&nbsp; 480000 | &nbsp;&nbsp;&nbsp;&nbsp; 460740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 5/30/2029 | &nbsp;&nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp; 288300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 6/12/2030 (c) | &nbsp;&nbsp;&nbsp; 440000 | &nbsp;&nbsp;&nbsp;&nbsp; 383707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 9/12/2031 | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 171200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 1/20/2034 | &nbsp;&nbsp;&nbsp; 380000 | &nbsp;&nbsp;&nbsp;&nbsp; 431609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 1/20/2037 | &nbsp;&nbsp;&nbsp; 395000 | &nbsp;&nbsp;&nbsp;&nbsp; 419194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 1/7/2041 | &nbsp;&nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 122220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 1/27/2045  | &nbsp;&nbsp;&nbsp; 465000 | &nbsp;&nbsp;&nbsp;&nbsp; 367350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 2/21/2047 | &nbsp;&nbsp;&nbsp; 342000 | &nbsp;&nbsp;&nbsp;&nbsp; 284715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/14/2050 | &nbsp;&nbsp;&nbsp; 871000 | &nbsp;&nbsp;&nbsp;&nbsp; 639259 |
|  |  | &nbsp;&nbsp; 5208692 |
| **Chile — 1.6%** | **Chile — 1.6%** | **Chile — 1.6%** |
| &nbsp;&nbsp;&nbsp; Republic of Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 1/31/2027 | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 185400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 1/31/2031 (c) | &nbsp;&nbsp;&nbsp; 393000 | &nbsp;&nbsp;&nbsp;&nbsp; 332281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 7/27/2033 | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 159900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 5/7/2041 | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 147100 |

---

------

**JPMorgan USD Emerging Markets Sovereign Bond ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Chile—continued** | **Chile—continued** | **Chile—continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.86%, 6/21/2047 | 200000 | 159250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 4/15/2053 | 272000 | 198220 |
|  |  | &nbsp;&nbsp; 1182151 |
| **China — 1.0%** | **China — 1.0%** | **China — 1.0%** |
| &nbsp;&nbsp;&nbsp; People's Republic of China |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 12/3/2024 (b) | 200000 | 190504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 10/26/2026 (b) | 208000 | 188026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/19/2028 (b) | 200000 | 195000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.20%, 10/21/2030 (b) | 200000 | 164502 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 738032 |
| **Colombia — 6.1%** | **Colombia — 6.1%** | **Colombia — 6.1%** |
| &nbsp;&nbsp;&nbsp; Republic of Colombia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 2/26/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 193788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 5/21/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 238000 | &nbsp;&nbsp;&nbsp;&nbsp; 243102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 1/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 186000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 3/15/2029 | 1122000 | &nbsp;&nbsp;&nbsp;&nbsp; 966322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 1/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 222000 | &nbsp;&nbsp;&nbsp;&nbsp; 167055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 4/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 148000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 4/22/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 512000 | &nbsp;&nbsp;&nbsp;&nbsp; 366080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 9/18/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 284000 | &nbsp;&nbsp;&nbsp;&nbsp; 262700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 1/18/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 255125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 2/22/2042 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 338800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 2/26/2044 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 472000 | &nbsp;&nbsp;&nbsp;&nbsp; 334176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 6/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 637000 | &nbsp;&nbsp;&nbsp;&nbsp; 426710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 5/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 853000 | &nbsp;&nbsp;&nbsp;&nbsp; 573643 |
|  |  | &nbsp;&nbsp; 4461501 |
| **Costa Rica — 1.2%** | **Costa Rica — 1.2%** | **Costa Rica — 1.2%** |
| &nbsp;&nbsp;&nbsp; Republic of Costa Rica |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 2/19/2031 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 193500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 4/04/2044 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 494000 | &nbsp;&nbsp;&nbsp;&nbsp; 461273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.16%, 3/12/2045 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 237000 | &nbsp;&nbsp;&nbsp;&nbsp; 223965 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 878738 |
| **Dominican Republic — 6.3%** | **Dominican Republic — 6.3%** | **Dominican Republic — 6.3%** |
| &nbsp;&nbsp;&nbsp; Dominican Republic Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 1/27/2025 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 219079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 1/29/2026 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 507000 | &nbsp;&nbsp;&nbsp;&nbsp; 512323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 1/25/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 1/25/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 198000 | &nbsp;&nbsp;&nbsp;&nbsp; 192530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 7/19/2028 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 249000 | &nbsp;&nbsp;&nbsp;&nbsp; 239663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 7/19/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 208000 | &nbsp;&nbsp;&nbsp;&nbsp; 200200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 1/30/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 594257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 9/23/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 514000 | &nbsp;&nbsp;&nbsp;&nbsp; 425592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.45%, 4/30/2044 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 128000 | &nbsp;&nbsp;&nbsp;&nbsp; 119184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.45%, 4/30/2044 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 302000 | &nbsp;&nbsp;&nbsp;&nbsp; 281200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.85%, 1/27/2045 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 304000 | &nbsp;&nbsp;&nbsp;&nbsp; 264442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.85%, 1/27/2045 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 357000 | &nbsp;&nbsp;&nbsp;&nbsp; 310545 |

---

------

**JPMorgan USD Emerging Markets Sovereign Bond ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Dominican Republic—continued** | **Dominican Republic—continued** | **Dominican Republic—continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 6/05/2049 (b) | 510000 | 413036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 6/5/2049 (a) | 305000 | 247012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 1/30/2060 (b) | 581000 | 429940 |
|  |  | &nbsp;&nbsp; 4643478 |
| **Egypt — 3.2%** | **Egypt — 3.2%** | **Egypt — 3.2%** |
| &nbsp;&nbsp;&nbsp; Arab Republic of Egypt |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 2/21/2023 (b) | 1000 | 990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 5/29/2024 (b) | 200000 | 192000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 6/11/2025 (b) | 224000 | 204960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 1/31/2027 (b) | 25000 | 22344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.59%, 2/21/2028 (b) | 200000 | 163250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.60%, 3/1/2029 (b) | &nbsp;&nbsp;&nbsp; 664000 | &nbsp;&nbsp;&nbsp;&nbsp; 542820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 5/29/2032 (b) | &nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 300825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.90%, 2/21/2048 (b) | &nbsp;&nbsp;&nbsp; 632000 | &nbsp;&nbsp;&nbsp;&nbsp; 406060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.70%, 3/1/2049 (b) | &nbsp;&nbsp;&nbsp; 582000 | &nbsp;&nbsp;&nbsp;&nbsp; 388485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 2/16/2061 (b) | &nbsp;&nbsp;&nbsp; 201000 | &nbsp;&nbsp;&nbsp;&nbsp; 127635 |
|  |  | &nbsp;&nbsp; 2349369 |
| **Gabon — 0.2%** | **Gabon — 0.2%** | **Gabon — 0.2%** |
| &nbsp;&nbsp;&nbsp; Gabonese Republic 6.63%, 2/6/2031 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 164788 |
| **Guatemala — 0.5%** | **Guatemala — 0.5%** | **Guatemala — 0.5%** |
| &nbsp;&nbsp;&nbsp; Republic of Guatemala 6.13%, 6/1/2050 (b) | &nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 366200 |
| **Hungary — 1.0%** | **Hungary — 1.0%** | **Hungary — 1.0%** |
| &nbsp;&nbsp;&nbsp; Hungary Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/22/2023 | &nbsp;&nbsp;&nbsp; 144000 | &nbsp;&nbsp;&nbsp;&nbsp; 143982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 3/25/2024 (c) | &nbsp;&nbsp;&nbsp; 218000 | &nbsp;&nbsp;&nbsp;&nbsp; 217632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 3/29/2041 | &nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 282311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 9/21/2051 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 119725 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 763650 |
| **India — 0.3%** | **India — 0.3%** | **India — 0.3%** |
| &nbsp;&nbsp;&nbsp; Export-Import Bank of India 3.25%, 1/15/2030 (b) | &nbsp;&nbsp;&nbsp; 249000 | &nbsp;&nbsp;&nbsp;&nbsp; 216916 |
| **Indonesia — 2.6%** | **Indonesia — 2.6%** | **Indonesia — 2.6%** |
| &nbsp;&nbsp;&nbsp; Perusahaan Penerbit SBSN Indonesia III |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 6/9/2026 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 179272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 3/29/2027 (a) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194788 |
| &nbsp;&nbsp;&nbsp; Republic of Indonesia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 7/18/2027 (b) | &nbsp;&nbsp;&nbsp; 473000 | &nbsp;&nbsp;&nbsp;&nbsp; 454316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 4/24/2028 | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 10/12/2035 (b) | &nbsp;&nbsp;&nbsp; 204000 | &nbsp;&nbsp;&nbsp;&nbsp; 256441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 2/17/2037 (b) | &nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 110261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 2/17/2037 (a) | &nbsp;&nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 159878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 1/17/2038 (b) | &nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 120125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 3/12/2051 | &nbsp;&nbsp;&nbsp; 383000 | &nbsp;&nbsp;&nbsp;&nbsp; 270536 |
|  |  | &nbsp;&nbsp; 1941117 |
| **Iraq — 0.7%** | **Iraq — 0.7%** | **Iraq — 0.7%** |
| &nbsp;&nbsp;&nbsp; Republic of Iraq 5.80%, 1/15/2028 (b) | &nbsp;&nbsp;&nbsp; 583000 | &nbsp;&nbsp;&nbsp;&nbsp; 521894 |

---

------

**JPMorgan USD Emerging Markets Sovereign Bond ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Ivory Coast — 0.5%** | **Ivory Coast — 0.5%** | **Ivory Coast — 0.5%** |
| &nbsp;&nbsp;&nbsp; Republic of Cote d'Ivoire |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 6/15/2033 (b) | 200000 | 176750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 6/15/2033 (a) | 210000 | 185588 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 362338 |
| **Jamaica — 1.8%** | **Jamaica — 1.8%** | **Jamaica — 1.8%** |
| &nbsp;&nbsp;&nbsp; Jamaica Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 4/28/2028 (c) | 216000 | 227516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 4/28/2028 | 294000 | 309674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 3/15/2039 (c) | 204000 | 232024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 7/28/2045 (c) | 471000 | 515980 |
|  |  | &nbsp;&nbsp; 1285194 |
| **Jordan — 1.3%** | **Jordan — 1.3%** | **Jordan — 1.3%** |
| &nbsp;&nbsp;&nbsp; Hashemite Kingdom of Jordan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 1/29/2026 (a) | &nbsp;&nbsp;&nbsp; 346000 | &nbsp;&nbsp;&nbsp;&nbsp; 343470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 7/7/2030 (b) | &nbsp;&nbsp;&nbsp; 536000 | &nbsp;&nbsp;&nbsp;&nbsp; 477643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 10/10/2047 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 167000 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 988113 |
| **Kazakhstan — 0.8%** | **Kazakhstan — 0.8%** | **Kazakhstan — 0.8%** |
| &nbsp;&nbsp;&nbsp; Republic of Kazakhstan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/14/2024 (a) | &nbsp;&nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 351159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/14/2044 (b) | &nbsp;&nbsp;&nbsp; 280000 | &nbsp;&nbsp;&nbsp;&nbsp; 248780 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 599939 |
| **Kenya — 1.8%** | **Kenya — 1.8%** | **Kenya — 1.8%** |
| &nbsp;&nbsp;&nbsp; Republic of Kenya |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 2/28/2028 (b) | &nbsp;&nbsp;&nbsp; 296000 | &nbsp;&nbsp;&nbsp;&nbsp; 261960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 2/28/2028 (a) | &nbsp;&nbsp;&nbsp; 355000 | &nbsp;&nbsp;&nbsp;&nbsp; 314175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 6/24/2024 (b) | &nbsp;&nbsp;&nbsp; 302000 | &nbsp;&nbsp;&nbsp;&nbsp; 278595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 5/22/2032 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 173500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 2/28/2048 (b) | &nbsp;&nbsp;&nbsp; 335000 | &nbsp;&nbsp;&nbsp;&nbsp; 262556 |
|  |  | &nbsp;&nbsp; 1290786 |
| **Kuwait — 0.5%** | **Kuwait — 0.5%** | **Kuwait — 0.5%** |
| &nbsp;&nbsp;&nbsp; State of Kuwait |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 3/20/2027 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 192100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 3/20/2027 (a) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 192100 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 384200 |
| **Malaysia — 0.4%** | **Malaysia — 0.4%** | **Malaysia — 0.4%** |
| &nbsp;&nbsp;&nbsp; Malaysia Sovereign Sukuk Bhd. 3.04%, 4/22/2025 (b) | &nbsp;&nbsp;&nbsp; 286000 | &nbsp;&nbsp;&nbsp;&nbsp; 275954 |
| **Mexico — 2.0%** | **Mexico — 2.0%** | **Mexico — 2.0%** |
| &nbsp;&nbsp;&nbsp; United Mexican States |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 1/21/2026 | &nbsp;&nbsp;&nbsp; 261000 | &nbsp;&nbsp;&nbsp;&nbsp; 255388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 4/22/2029 | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.66%, 5/24/2031 | &nbsp;&nbsp;&nbsp; 235000 | &nbsp;&nbsp;&nbsp;&nbsp; 194933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.30%, 8/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 1/11/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 86000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 3/8/2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3373 |

---

------

**JPMorgan USD Emerging Markets Sovereign Bond ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Mexico—continued** | **Mexico—continued** | **Mexico—continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 1/23/2046 | 528000 | 432300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 2/12/2052 | 200000 | 155200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 10/12/2110 | 122000 | 105553 |
|  |  | &nbsp;&nbsp; 1455475 |
| **Morocco — 0.6%** | **Morocco — 0.6%** | **Morocco — 0.6%** |
| &nbsp;&nbsp;&nbsp; Kingdom of Morocco |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 12/15/2032 (b) | 400000 | 318325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/15/2050 (b) | 200000 | 137100 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 455425 |
| **Oman — 7.0%** | **Oman — 7.0%** | **Oman — 7.0%** |
| &nbsp;&nbsp;&nbsp; Oman Sovereign Sukuk SAOC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 6/1/2024 (b) | &nbsp;&nbsp;&nbsp; 346000 | &nbsp;&nbsp;&nbsp;&nbsp; 337782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.93%, 10/31/2025 (b) | &nbsp;&nbsp;&nbsp; 533000 | &nbsp;&nbsp;&nbsp;&nbsp; 537664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 6/15/2030 (b) | &nbsp;&nbsp;&nbsp; 201000 | &nbsp;&nbsp;&nbsp;&nbsp; 194882 |
| &nbsp;&nbsp;&nbsp; Sultanate of Oman Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 2/1/2025 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 6/15/2026 (b) | &nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 480000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 3/8/2027 (b) | &nbsp;&nbsp;&nbsp; 584000 | &nbsp;&nbsp;&nbsp;&nbsp; 568670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 10/28/2027 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 1/17/2028 (b) | &nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 489375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 8/1/2029 (a) | &nbsp;&nbsp;&nbsp; 221000 | &nbsp;&nbsp;&nbsp;&nbsp; 218238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 8/1/2029 (b) | &nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 395000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 1/25/2031 (b) | &nbsp;&nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 219175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 10/28/2032 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 215000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 3/8/2047 (b) | &nbsp;&nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp; 218662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 3/8/2047 (a) | &nbsp;&nbsp;&nbsp; 229000 | &nbsp;&nbsp;&nbsp;&nbsp; 204383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 1/17/2048 (b) | &nbsp;&nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 503937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 1/25/2051 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 187000 |
|  |  | &nbsp;&nbsp; 5172431 |
| **Panama — 1.8%** | **Panama — 1.8%** | **Panama — 1.8%** |
| &nbsp;&nbsp;&nbsp; Republic of Panama |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 3/17/2028 | &nbsp;&nbsp;&nbsp; 207000 | &nbsp;&nbsp;&nbsp;&nbsp; 196107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.16%, 1/23/2030 | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 173475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 9/29/2032 | &nbsp;&nbsp;&nbsp; 279000 | &nbsp;&nbsp;&nbsp;&nbsp; 210348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 1/26/2036 | &nbsp;&nbsp;&nbsp; 105000 | &nbsp;&nbsp;&nbsp;&nbsp; 111418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 4/16/2050 | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 154100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 4/29/2053 | &nbsp;&nbsp;&nbsp; 296000 | &nbsp;&nbsp;&nbsp;&nbsp; 220520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.87%, 7/23/2060 | &nbsp;&nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 232925 |
|  |  | &nbsp;&nbsp; 1298893 |
| **Paraguay — 1.1%** | **Paraguay — 1.1%** | **Paraguay — 1.1%** |
| &nbsp;&nbsp;&nbsp; Republic of Paraguay |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 4/28/2031 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 192350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 8/11/2044 (b) | &nbsp;&nbsp;&nbsp; 262000 | &nbsp;&nbsp;&nbsp;&nbsp; 247312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 3/30/2050 (b) | &nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 336325 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 775987 |

---

------

**JPMorgan USD Emerging Markets Sovereign Bond ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Peru — 1.9%** | **Peru — 1.9%** | **Peru — 1.9%** |
| &nbsp;&nbsp;&nbsp; Republic of Peru |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.35%, 7/21/2025 | 321000 | 339056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 8/25/2027 | 208000 | 202800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.78%, 1/23/2031 | 192000 | 162240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.86%, 12/1/2032 | 252000 | 189315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 11/21/2033 | 8000 | 9930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 1/15/2034 | 8000 | 6484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 3/14/2037 | 54000 | 57983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 3/11/2041 | 56000 | 41776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 11/18/2050 | 66000 | 66165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.23%, 7/28/2121 | 578000 | 346800 |
|  |  | &nbsp;&nbsp; 1422549 |
| **Philippines — 2.4%** | **Philippines — 2.4%** | **Philippines — 2.4%** |
| &nbsp;&nbsp;&nbsp; Republic of Philippines |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.63%, 3/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 64000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 2/2/2030 | &nbsp;&nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp; 199218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.46%, 5/05/2030  | &nbsp;&nbsp;&nbsp; 308000 | &nbsp;&nbsp;&nbsp;&nbsp; 263374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 1/14/2031 | &nbsp;&nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 175141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 1/15/2032 | &nbsp;&nbsp;&nbsp; 159000 | &nbsp;&nbsp;&nbsp;&nbsp; 172135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 10/23/2034 | &nbsp;&nbsp;&nbsp; 196000 | &nbsp;&nbsp;&nbsp;&nbsp; 213172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 1/13/2037 | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 193022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 1/20/2040 | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 167022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 3/1/2041 | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 161522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 2/2/2042 | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 161022 |
|  |  | &nbsp;&nbsp; 1777555 |
| **Poland — 0.4%** | **Poland — 0.4%** | **Poland — 0.4%** |
| &nbsp;&nbsp;&nbsp; Republic of Poland |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 1/22/2024 | &nbsp;&nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 128359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 4/6/2026 | &nbsp;&nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp; 171315 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 299674 |
| **Qatar — 2.3%** | **Qatar — 2.3%** | **Qatar — 2.3%** |
| &nbsp;&nbsp;&nbsp; State of Qatar |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 3/14/2024 (b) | &nbsp;&nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 439875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 3/14/2029 (b) | &nbsp;&nbsp;&nbsp; 212000 | &nbsp;&nbsp;&nbsp;&nbsp; 207230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 6/15/2030 (b) | &nbsp;&nbsp;&nbsp; 164000 | &nbsp;&nbsp;&nbsp;&nbsp; 218940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 1/20/2040 (b) | &nbsp;&nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 171750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 6/2/2046 (a) | &nbsp;&nbsp;&nbsp; 276000 | &nbsp;&nbsp;&nbsp;&nbsp; 258060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 4/23/2048 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.82%, 3/14/2049 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 193000 |
|  |  | &nbsp;&nbsp; 1688855 |
| **Romania — 1.0%** | **Romania — 1.0%** | **Romania — 1.0%** |
| &nbsp;&nbsp;&nbsp; Romania Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 2/27/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 68000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 11/25/2027 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 74000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 2/14/2031 (b) | &nbsp;&nbsp;&nbsp; 286000 | &nbsp;&nbsp;&nbsp;&nbsp; 227871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 3/27/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45213 |

---

------

**JPMorgan USD Emerging Markets Sovereign Bond ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Romania—continued** | **Romania—continued** | **Romania—continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 1/22/2044 (b) | 32000 | 29126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 6/15/2048 (a) | 90000 | 71679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 2/14/2051 (b) | 366000 | 243115 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 749839 |
| **Saudi Arabia — 3.1%** | **Saudi Arabia — 3.1%** | **Saudi Arabia — 3.1%** |
| &nbsp;&nbsp;&nbsp; Kingdom of Saudi Arabia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 3/4/2023 (b) | 28000 | 27846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 4/17/2025 (b) | 495000 | 486337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 3/4/2028 (b) | 326000 | 310515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 4/17/2030 (a) | 282000 | 279180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 2/2/2033 (b) | 200000 | 161250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/26/2046 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 174750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/4/2047 (b) | &nbsp;&nbsp;&nbsp; 254000 | &nbsp;&nbsp;&nbsp;&nbsp; 224473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/4/2047 (a) | &nbsp;&nbsp;&nbsp; 247000 | &nbsp;&nbsp;&nbsp;&nbsp; 218286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 4/22/2060 (b) | &nbsp;&nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp; 237263 |
| &nbsp;&nbsp;&nbsp; KSA Sukuk Ltd. 2.25%, 5/17/2031 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 169000 |
|  |  | &nbsp;&nbsp; 2288900 |
| **Senegal — 0.7%** | **Senegal — 0.7%** | **Senegal — 0.7%** |
| &nbsp;&nbsp;&nbsp; Republic of Senegal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 5/23/2033 (b) | &nbsp;&nbsp;&nbsp; 408000 | &nbsp;&nbsp;&nbsp;&nbsp; 339737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 3/13/2048 (b) | &nbsp;&nbsp;&nbsp; 216000 | &nbsp;&nbsp;&nbsp;&nbsp; 154683 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 494420 |
| **Serbia, Republic Of — 0.2%** | **Serbia, Republic Of — 0.2%** | **Serbia, Republic Of — 0.2%** |
| &nbsp;&nbsp;&nbsp; Republic of Serbia 2.13%, 12/1/2030 (b) | &nbsp;&nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 168518 |
| **South Africa — 5.6%** | **South Africa — 5.6%** | **South Africa — 5.6%** |
| &nbsp;&nbsp;&nbsp; Republic of South Africa |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.67%, 1/17/2024 | &nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp; 228491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 9/16/2025 | &nbsp;&nbsp;&nbsp; 518000 | &nbsp;&nbsp;&nbsp;&nbsp; 520849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 4/14/2026 (c) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 9/27/2027 (c) | &nbsp;&nbsp;&nbsp; 208000 | &nbsp;&nbsp;&nbsp;&nbsp; 198029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 10/12/2028 | &nbsp;&nbsp;&nbsp; 393000 | &nbsp;&nbsp;&nbsp;&nbsp; 355247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 9/30/2029 | &nbsp;&nbsp;&nbsp; 612000 | &nbsp;&nbsp;&nbsp;&nbsp; 553019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 6/22/2030 (c) | &nbsp;&nbsp;&nbsp; 465000 | &nbsp;&nbsp;&nbsp;&nbsp; 440529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 4/20/2032 | &nbsp;&nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 252313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 7/24/2044 (c) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 152975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/12/2046 | &nbsp;&nbsp;&nbsp; 612000 | &nbsp;&nbsp;&nbsp;&nbsp; 437312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 9/27/2047 | &nbsp;&nbsp;&nbsp; 645000 | &nbsp;&nbsp;&nbsp;&nbsp; 487781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.30%, 4/20/2052 | &nbsp;&nbsp;&nbsp; 344000 | &nbsp;&nbsp;&nbsp;&nbsp; 302290 |
|  |  | &nbsp;&nbsp; 4124560 |
| **Trinidad And Tobago — 0.3%** | **Trinidad And Tobago — 0.3%** | **Trinidad And Tobago — 0.3%** |
| &nbsp;&nbsp;&nbsp; Republic of Trinidad and Tobago 4.50%, 8/4/2026 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195225 |
| **Tunisia — 0.2%** | **Tunisia — 0.2%** | **Tunisia — 0.2%** |
| &nbsp;&nbsp;&nbsp; Tunisian Republic 5.75%, 1/30/2025 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 145475 |

---

------

**JPMorgan USD Emerging Markets Sovereign Bond ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Turkey — 8.1%** | **Turkey — 8.1%** | **Turkey — 8.1%** |
| &nbsp;&nbsp;&nbsp; Hazine Mustesarligi Varlik Kiralama A/S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 4/6/2023 (b) | 200000 | 199225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.49%, 11/25/2024 (a) | 1000 | 946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 6/22/2026 (b) | 400000 | 363200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 2/24/2027 (b) | 200000 | 193600 |
| &nbsp;&nbsp;&nbsp; Republic of Turkey |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 3/22/2024 (c) | 275000 | 273625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 2/5/2025 (c) | 321000 | 322605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 3/13/2025 | 310000 | 289075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 1/26/2026 | 624000 | 564720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 4/14/2026 (c) | 312000 | 276120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 4/14/2026 | &nbsp;&nbsp;&nbsp; 256000 | &nbsp;&nbsp;&nbsp;&nbsp; 226560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/9/2026 | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 178000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 3/25/2027 | &nbsp;&nbsp;&nbsp; 470000 | &nbsp;&nbsp;&nbsp;&nbsp; 430050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 4/26/2029 | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 189000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.88%, 1/15/2030  | &nbsp;&nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp; 286038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 1/15/2031 (c) | &nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 492000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 6/26/2031 | &nbsp;&nbsp;&nbsp; 509000 | &nbsp;&nbsp;&nbsp;&nbsp; 411017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 9/20/2033 | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 165500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 2/14/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 96000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 3/17/2036 | &nbsp;&nbsp;&nbsp; 104000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 5/30/2040 (c) | &nbsp;&nbsp;&nbsp; 646000 | &nbsp;&nbsp;&nbsp;&nbsp; 511955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 2/17/2045 | &nbsp;&nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 193800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 5/11/2047 | &nbsp;&nbsp;&nbsp; 353000 | &nbsp;&nbsp;&nbsp;&nbsp; 240040 |
|  |  | &nbsp;&nbsp; 5988476 |
| **United Arab Emirates — 1.9%** | **United Arab Emirates — 1.9%** | **United Arab Emirates — 1.9%** |
| &nbsp;&nbsp;&nbsp; United Arab Emirates Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 4/16/2025 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 191350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 10/11/2027 (b) | &nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 286931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 9/15/2031 (b) | &nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp; 191298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 10/19/2031 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 166350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 9/30/2049 (b) | &nbsp;&nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp; 168244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 9/30/2049 (a) | &nbsp;&nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp;&nbsp; 192175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 4/16/2050 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 165975 |
|  |  | &nbsp;&nbsp; 1362323 |
| **Uruguay — 1.3%** | **Uruguay — 1.3%** | **Uruguay — 1.3%** |
| &nbsp;&nbsp;&nbsp; Oriental Republic of Uruguay |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 10/27/2027 | &nbsp;&nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 242880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 1/23/2031 (c) | &nbsp;&nbsp;&nbsp; 116000 | &nbsp;&nbsp;&nbsp;&nbsp; 116000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 3/21/2036 | &nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 128000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 6/18/2050 | &nbsp;&nbsp;&nbsp; 101000 | &nbsp;&nbsp;&nbsp;&nbsp; 100495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.98%, 4/20/2055 | &nbsp;&nbsp;&nbsp; 381000 | &nbsp;&nbsp;&nbsp;&nbsp; 368617 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 955992 |

---

------

**JPMorgan USD Emerging Markets Sovereign Bond ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Foreign Government Securities — continued** | **Foreign Government Securities — continued** | **Foreign Government Securities — continued** |
| **Vietnam — 0.3%** | **Vietnam — 0.3%** | **Vietnam — 0.3%** |
| &nbsp;&nbsp;&nbsp; Socialist Republic of Vietnam 4.80%, 11/19/2024 (a) | 200000 | 194663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Foreign Government Securities <br>(Cost $70,209,883)<br>|  | 64427722 |
| **Corporate Bonds — 10.4%** | **Corporate Bonds — 10.4%** | **Corporate Bonds — 10.4%** |
| **Azerbaijan — 0.8%** | **Azerbaijan — 0.8%** | **Azerbaijan — 0.8%** |
| &nbsp;&nbsp;&nbsp; Southern Gas Corridor CJSC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 3/24/2026 (b) | 200000 | 204425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 3/24/2026 (a) | 393000 | 401695 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 606120 |
| **Bahrain — 0.3%** | **Bahrain — 0.3%** | **Bahrain — 0.3%** |
| &nbsp;&nbsp;&nbsp; Oil and Gas Holding Co. BSCC (The) 7.50%, 10/25/2027 (a) | 203000 | 203609 |
| **Chile — 0.6%** | **Chile — 0.6%** | **Chile — 0.6%** |
| &nbsp;&nbsp;&nbsp; Corp. Nacional del Cobre de Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 2/5/2049 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 163850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 1/30/2050 (b) | &nbsp;&nbsp;&nbsp; 320000 | &nbsp;&nbsp;&nbsp;&nbsp; 234880 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 398730 |
| **China — 1.7%** | **China — 1.7%** | **China — 1.7%** |
| &nbsp;&nbsp;&nbsp; CNAC HK Finbridge Co. Ltd. 4.13%, 7/19/2027 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 182888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minmetals Bounteous Finance BVI Ltd. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.21%), 3.38%, <br> 9/3/2024 (b) (d) (e) (f)<br>| &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 189000 |
| &nbsp;&nbsp;&nbsp; Sinopec Group Overseas Development 2017 Ltd. 3.63%, 4/12/2027 (a) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 191728 |
| &nbsp;&nbsp;&nbsp; Sinopec Group Overseas Development 2018 Ltd. 2.15%, 5/13/2025 (b) | &nbsp;&nbsp;&nbsp; 396000 | &nbsp;&nbsp;&nbsp;&nbsp; 369223 |
| &nbsp;&nbsp;&nbsp; State Grid Overseas Investment BVI Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 5/4/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 8/5/2030 (b) | &nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 321544 |
|  |  | &nbsp;&nbsp; 1256297 |
| **Indonesia — 0.7%** | **Indonesia — 0.7%** | **Indonesia — 0.7%** |
| &nbsp;&nbsp;&nbsp; Pertamina Persero PT 1.40%, 2/9/2026 (b) | &nbsp;&nbsp;&nbsp; 238000 | &nbsp;&nbsp;&nbsp;&nbsp; 212144 |
| &nbsp;&nbsp;&nbsp; Perusahaan Perseroan Persero PT Perusahaan Listrik Negara |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 5/21/2048 (b) | &nbsp;&nbsp;&nbsp; 201000 | &nbsp;&nbsp;&nbsp;&nbsp; 184529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 6/30/2050 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 140250 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 536923 |
| **Kazakhstan — 0.5%** | **Kazakhstan — 0.5%** | **Kazakhstan — 0.5%** |
| &nbsp;&nbsp;&nbsp; KazMunayGas National Co. JSC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 4/24/2030 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 178875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 4/19/2047 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 150175 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 329050 |
| **Malaysia — 1.2%** | **Malaysia — 1.2%** | **Malaysia — 1.2%** |
| &nbsp;&nbsp;&nbsp; Petronas Capital Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 3/18/2025 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.48%, 1/28/2032 (b) | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 165354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 4/21/2050 (b) | &nbsp;&nbsp;&nbsp; 320000 | &nbsp;&nbsp;&nbsp;&nbsp; 287667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 4/28/2061 (b) | &nbsp;&nbsp;&nbsp; 306000 | &nbsp;&nbsp;&nbsp;&nbsp; 215497 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 862681 |

---

------

**JPMorgan USD Emerging Markets Sovereign Bond ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Mexico — 1.7%** | **Mexico — 1.7%** | **Mexico — 1.7%** |
| &nbsp;&nbsp;&nbsp; Mexico City Airport Trust 5.50%, 7/31/2047 (b) | 209000 | 153615 |
| &nbsp;&nbsp;&nbsp; Petroleos Mexicanos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 1/23/2026 | 214000 | 192600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 2/16/2032 | 536000 | 413175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 6/15/2035 | 270000 | 189837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 6/2/2041 (c) | 24000 | 15360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 9/21/2047 | 244000 | 155245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.69%, 1/23/2050 | 48000 | 32674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 1/28/2060 | 167000 | 105260 |
|  |  | &nbsp;&nbsp; 1257766 |
| **Panama — 0.2%** | **Panama — 0.2%** | **Panama — 0.2%** |
| &nbsp;&nbsp;&nbsp; Aeropuerto Internacional de Tocumen SA 5.13%, 8/11/2061 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 151413 |
| **Peru — 0.2%** | **Peru — 0.2%** | **Peru — 0.2%** |
| &nbsp;&nbsp;&nbsp; Petroleos del Peru SA 5.63%, 6/19/2047 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 135748 |
| **Qatar — 0.7%** | **Qatar — 0.7%** | **Qatar — 0.7%** |
| &nbsp;&nbsp;&nbsp; Qatar Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 7/12/2041 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 378219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 7/12/2051 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 145037 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 523256 |
| **South Africa — 0.7%** | **South Africa — 0.7%** | **South Africa — 0.7%** |
| &nbsp;&nbsp;&nbsp; Eskom Holdings SOC Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 8/6/2023 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 2/11/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 327000 | &nbsp;&nbsp;&nbsp;&nbsp; 305949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 8/10/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 224400 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 532299 |
| **United Arab Emirates — 1.1%** | **United Arab Emirates — 1.1%** | **United Arab Emirates — 1.1%** |
| &nbsp;&nbsp;&nbsp; Abu Dhabi Crude Oil Pipeline LLC 4.60%, 11/2/2047 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 222000 | &nbsp;&nbsp;&nbsp;&nbsp; 198107 |
| &nbsp;&nbsp;&nbsp; DP World Ltd. 6.85%, 7/2/2037 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp; 280429 |
| &nbsp;&nbsp;&nbsp; MDGH GMTN RSC Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 11/7/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 178475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 5/21/2030 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 201000 | &nbsp;&nbsp;&nbsp;&nbsp; 176038 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 833049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds <br>(Cost $9,015,227)<br>|  | &nbsp;&nbsp; 7626941 |
|  | **SHARES** |  |
| **Short-Term Investments — 6.8%** | **Short-Term Investments — 6.8%** | **Short-Term Investments — 6.8%** |
| **Investment Companies — 0.3%** | **Investment Companies — 0.3%** | **Investment Companies — 0.3%** |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money Market Fund Class IM Shares, 3.59% (g) (h)(Cost $209,313) | &nbsp;&nbsp;&nbsp;&nbsp; 209313 | &nbsp;&nbsp;&nbsp;&nbsp; 209313 |
| **Investment of Cash Collateral from Securities Loaned — 6.5%** | **Investment of Cash Collateral from Securities Loaned — 6.5%** | **Investment of Cash Collateral from Securities Loaned — 6.5%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 4.02% (g) (h) | 2800480 | &nbsp;&nbsp; 2800760 |

---

------

**JPMorgan USD Emerging Markets Sovereign Bond ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | &nbsp;&nbsp;&nbsp; <br> **VALUE($)**<br>|
| **Short-Term Investments — continued** | **Short-Term Investments — continued** | **Short-Term Investments — continued** |
| **Investment of Cash Collateral from Securities Loaned — continued** | **Investment of Cash Collateral from Securities Loaned — continued** | **Investment of Cash Collateral from Securities Loaned — continued** |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money Market Fund Class IM Shares, 3.59% (g) (h) | 2011387 | 2011387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investment of Cash Collateral from Securities Loaned <br>(Cost $4,811,387)<br>|  | &nbsp;&nbsp; 4812147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $5,020,700)<br>|  | &nbsp;&nbsp; 5021460 |
| **Total Investments — 104.8%** <br>**(Cost $84,245,810)**<br>|  | **77076123** |
| **Liabilities in Excess of Other Assets — (4.8)%** |  | **(3515988)** |
| **NET ASSETS — 100.0%** |  | **73560135** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages indicated are based on net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Abbreviations** |  |
| CJSC | Closed Joint Stock Company |
| GMTN | Global Medium Term Note |
| JSC | Joint Stock Company |
| PT | Limited liability company |
| SPC | Special purpose company |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies
 to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have
 restrictions on resale.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The security or a portion of this security is on loan at November 30, 2022. The total value of securities on loan at November
 30, 2022 is $4,633,729.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Security is an interest bearing note with preferred security characteristics.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Security is perpetual and thus, does not have a predetermined maturity date. The coupon rate for this security is fixed for
 a period of time and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the
 rate in effect as of November 30, 2022.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of
 November 30, 2022.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised
 by J.P. Morgan Investment Management Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The rate shown is the current yield as of November 30, 2022.

------

**JPMorgan USD Emerging Markets Sovereign Bond ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**A. Valuation of Investments** — Investments are valued in accordance with U.S. generally accepted accounting principles ("GAAP") and the Fund's valuation policies set forth by, and under the supervision and responsibility of, the Board of Trustees of the Trust (the "Board"), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at their market value and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.

Under Section 2(a)(41) of the Investment Company Act of 1940, the Board is required to determine fair value for securities that do not have readily available market quotations. Under SEC Rule 2a-5 (Good Faith Determinations of Fair Value), the Board may designate the performance of these fair valuation determinations to a valuation designee. The Board has designated the Adviser as the "Valuation Designee" to perform fair valuation determinations for the Fund on behalf of the Board subject to appropriate oversight by the Board. The Adviser, as Valuation Designee, leverages the J.P. Morgan Asset Management Americas Valuation Committee ("AVC") to help oversee and carry out the policies for the valuation of Investments held in the Fund. The Adviser, as Valuation Designee, remains responsible for the valuation determinations.

This oversight by the AVC includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight including, but not limited to, consideration of macro or security specific events, market events, and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and, at least on a quarterly basis, with the AVC and the Board.

Fixed income instruments are valued based on prices received from approved affiliated and unaffiliated pricing vendors or third party broker-dealers (collectively referred to as "Pricing Services"). The Pricing Services use multiple valuation techniques to determine the valuation of fixed income instruments. In instances where sufficient market activity exists, the Pricing Services may utilize a market-based approach through which trades or quotes from market makers are used to determine the valuation of these instruments. In instances where sufficient market activity may not exist, the Pricing Services also utilize proprietary valuation models which may consider market transactions in comparable securities and the various relationships between securities in determining fair value and/or market characteristics in order to estimate the relevant cash flows, which are then discounted to calculate the fair values.

Investments in open-end investment companies ("Underlying Funds") are valued at each Underlying Fund's NAVs per share as of the report date.

**B. Valuation of Investments** — Investments are valued in accordance with U.S. generally accepted accounting principles ("GAAP") and the Fund's valuation policies set forth by, and under the supervision and responsibility of, the Board of Trustees of the Trust (the "Board"), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at their market value and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.

Under Section 2(a)(41) of the Investment Company Act of 1940, the Board is required to determine fair value for securities that do not have readily available market quotations. Under SEC Rule 2a-5 (Good Faith Determinations of Fair Value), the Board may designate the performance of these fair valuation determinations to a valuation designee. The Board has designated the Adviser as the "Valuation Designee" to perform fair valuation determinations for the Fund on behalf of the Board subject to appropriate oversight by the Board. The Adviser, as Valuation Designee, leverages the J.P. Morgan Asset Management Americas Valuation Committee ("AVC") to help oversee and carry out the policies for the valuation of Investments held in the Fund. The Adviser, as Valuation Designee, remains responsible for the valuation determinations.

This oversight by the AVC includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight including, but not limited to, consideration of macro or security specific events, market events, and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and, at least on a quarterly basis, with the AVC and the Board.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1** <br>Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2** <br>Other significant <br>observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3** <br>Significant <br>unobservable inputs<br>| **Total** |
| **Investments in Securities** |  |  |  |  |
| Corporate Bonds | $— | $7626941 | $— | $7626941 |
| Foreign Government Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 64427722 | &nbsp;&nbsp; — | &nbsp;&nbsp; 64427722 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp; 209313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 209313 |

---

------

**JPMorgan USD Emerging Markets Sovereign Bond ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF November 30, 2022 (Unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1**<br> Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2**<br> Other significant<br> observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3**<br> Significant<br> unobservable inputs<br>| **Total** |
| &nbsp;&nbsp;&nbsp; Investment of Cash Collateral from Securities Loaned | $4812147 | $— | $— | $4812147 |
| Total Short-Term Investments | &nbsp;&nbsp; 5021460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5021460 |
| **Total Investments in Securities** | $5021460 | $72054663 | $— | $77076123 |

---

**C. Investment Transactions with Affiliates** — The Fund invested in Underlying Funds, which are advised by the Adviser. An issuer which is under common control with the Fund may be considered an affiliate. The Fund assumes the issuers listed in the table below to be affiliated issuers. The Underlying Funds' distributions may be reinvested into such Underlying Funds. Reinvestment amounts are included in the purchases at cost amounts in the table below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** | **For the period ended November 30, 2022** |
| **Security Description** | **Value at** <br>**February 28,** <br>**2022**<br>| **Purchases at** <br>**Cost**<br>| **Proceeds from** <br>**Sales**<br>| **Net Realized** <br>**Gain (Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Value at** <br>**November 30,** <br>**2022**<br>| **Shares at** <br>**November 30,** <br>**2022**<br>| **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| &nbsp;&nbsp;&nbsp; JPMorgan Securities Lending Money <br> Market Fund Agency SL Class Shares, <br> 4.02% (a) (b)<br>| $— | $2800000 | $— | $— | $760 | $2800760 | 2800480 | $11924 | $— |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money <br> Market Fund Class IM Shares, 3.59% <br> (a) (b)<br>| &nbsp;&nbsp; 786418 | &nbsp;&nbsp; 23968301 | &nbsp;&nbsp; 22743332 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 2011387 | 2011387 | &nbsp;&nbsp; 19962 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money <br> Market Fund Class IM Shares, 3.59% <br> (a) (b)<br>| &nbsp;&nbsp; 177868 | &nbsp;&nbsp; 11642434 | &nbsp;&nbsp; 11610989 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 209313 | &nbsp;&nbsp;&nbsp; 209313 | &nbsp;&nbsp;&nbsp;&nbsp; 4263 | &nbsp;&nbsp; — |
| **Total** | $964286 | $38410735 | $34354321 | $— | $760 | $5021460 |  | $36149 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

 <br> (a) Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. <br> (b) The rate shown is the current yield as of November 30, 2022.

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** J.P. Morgan Exchange-Traded Fund Trust

- **b. Investment Company Act file number:** 811-22903

- **c. CIK number of Registrant:** 0001485894

- **d. LEI of Registrant:** 5493001E1K1DVWDV2464

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

  - **Street Address 1:** 277 Park Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10172

  - **Telephone number:** 844-457-6383

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

- **a. Name of Series:** JPMorgan USD Emerging Markets Sovereign Bond ETF

- **b. EDGAR series identifier (if any):** S000060180

- **c. LEI of Series:** 549300POFR35HUEWVC10

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

- **a. Date of fiscal year-end:** 2023-02-28

- **b. Date as of which information is reported:** 2022-11-30

**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:** $78397284.10

**Total Liabilities:** $4834940.22

**Net Assets:** $73562343.88

**Cash Not Reported:** $16611.26

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.71498000 | **1-Year:** 645.62456000 | **5-Year:** 3075.58189000 | **10-Year:** 6188.43334000 | **30-Year:** 10894.57409000

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

- **3-Month:** 6.84621000 | **1-Year:** 1326.13920000 | **5-Year:** 7387.25980000 | **10-Year:** 7981.41545000 | **30-Year:** 13192.94551000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000196949 | -6.24%               | 0.84%                | 6.98%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-528974.04              | $-4128716.33                               |
| Month 2  | $-2357492.27             | $2571124.35                                |
| Month 3  | $-598081.09              | $5056694.74                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Jamaica                                                   | Jamaica Government Bond                                               | CUSIP: 470160CA8<br>LEI: 529900Y93KNSXZI8KK56 | Long             | DBT              | NUSS              | JM        |    294000 | PA      | $309673.88    | 0.42%             | 2028-04-28      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| Republic of Turkey                                        | Republic of Turkey                                                    | CUSIP: 900123AW0<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    321000 | PA      | $322605.00    | 0.44%             | 2025-02-05      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| Perusahaan Perseroan Persero PT Perusahaan Listrik Negara | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara             | CUSIP: 71568QAP2<br>LEI: 254900OYVDRYS9J51J61 | Long             | DBT              | NUSS              | ID        |    200000 | PA      | $140250.00    | 0.19%             | 2050-06-30      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Republic of Turkey                                        | Republic of Turkey                                                    | CUSIP: 900123CR9<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    200000 | PA      | $203500.00    | 0.28%             | 2023-12-23      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| State of Qatar                                            | State of Qatar                                                        | CUSIP: N/A<br>LEI: 52990074F6OJOAXK4P65       | Long             | DBT              | NUSS              | QA        |    212000 | PA      | $207230.00    | 0.28%             | 2029-03-14      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Jamaica                                                   | Jamaica Government Bond                                               | CUSIP: 470160AV4<br>LEI: 529900Y93KNSXZI8KK56 | Long             | DBT              | NUSS              | JM        |    204000 | PA      | $232024.50    | 0.32%             | 2039-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: —       |
| United Mexican States                                     | United Mexican States                                                 | CUSIP: 91086QAG3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     24000 | PA      | $27897.00     | 0.04%             | 2031-08-15      | Fixed         | 8.30%                 | No            |                  2 | On Loan: No      |
| Emirate of Abu Dhabi United Arab Emirates                 | United Arab Emirates Government Bond                                  | CUSIP: N/A<br>LEI: 213800FER4348CINTA77       | Long             | DBT              | NUSS              | AE        |    432000 | PA      | $313281.00    | 0.43%             | 2049-09-30      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| Republic of Turkey                                        | Republic of Turkey                                                    | CUSIP: 900123DD9<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    200000 | PA      | $165500.00    | 0.22%             | 2033-09-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Eskom Holdings SOC Ltd.                                   | Eskom Holdings SOC Ltd.                                               | CUSIP: 29646AAA4<br>LEI: 3789001900ED06F65111 | Long             | DBT              | NUSS              | ZA        |      2000 | PA      | $1950.00      | 0.00%             | 2023-08-06      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Republic of Peru                                          | Republic of Peru                                                      | CUSIP: 715638DF6<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    192000 | PA      | $162240.00    | 0.22%             | 2031-01-23      | Fixed         | 2.78%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                  | Republic of South Africa                                              | CUSIP: 836205BE3<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    344000 | PA      | $302290.00    | 0.41%             | 2052-04-20      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                  | Republic of South Africa                                              | CUSIP: 836205AV6<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    612000 | PA      | $437312.25    | 0.59%             | 2046-10-12      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Republic of Indonesia                                     | Republic of Indonesia                                                 | CUSIP: N/A<br>LEI: 529900FWX0GRR7WG5W79       | Long             | DBT              | NUSS              | ID        |    100000 | PA      | $110261.00    | 0.15%             | 2037-02-17      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Republic of Turkey                                        | Republic of Turkey                                                    | CUSIP: 900123CX6<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    310000 | PA      | $289075.00    | 0.39%             | 2025-03-13      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                       | Petroleos Mexicanos                                                   | CUSIP: 71643VAB1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    536000 | PA      | $413175.60    | 0.56%             | 2032-02-16      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Republic of Indonesia                                     | Republic of Indonesia                                                 | CUSIP: 455780AX4<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    145000 | PA      | $159878.45    | 0.22%             | 2037-02-17      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Republic of Iraq                                          | Republic of Iraq                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | IQ        |    583000 | PA      | $521894.31    | 0.71%             | 2028-01-15      | Fixed         | 5.80%                 | Yes           |                  2 | On Loan: No      |
| Hazine Mustesarligi Varlik Kiralama A/S                   | Hazine Mustesarligi Varlik Kiralama A/S                               | CUSIP: N/A<br>LEI: 6354003QFJP7RDXEOZ20       | Long             | DBT              | NUSS              | TR        |    200000 | PA      | $199225.00    | 0.27%             | 2023-04-06      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Republic of Paraguay                                      | Republic of Paraguay                                                  | CUSIP: N/A<br>LEI: 529900UXKJTJPCU0HK83       | Long             | DBT              | NUSS              | PY        |    262000 | PA      | $247311.63    | 0.34%             | 2044-08-11      | Fixed         | 6.10%                 | Yes           |                  2 | On Loan: No      |
| Oman Government International Bond                        | Sultanate of Oman Government Bond                                     | CUSIP: N/A<br>LEI: 549300SZ20F0QTKNQC75       | Long             | DBT              | NUSS              | OM        |    400000 | PA      | $395000.00    | 0.54%             | 2029-08-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Republic of Chile                                         | Republic of Chile                                                     | CUSIP: 168863DP0<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |    393000 | PA      | $332281.50    | 0.45%             | 2031-01-31      | Fixed         | 2.45%                 | No            |                  2 | On Loan: —       |
| State of Qatar                                            | State of Qatar                                                        | CUSIP: N/A<br>LEI: 52990074F6OJOAXK4P65       | Long             | DBT              | NUSS              | QA        |    150000 | PA      | $171750.00    | 0.23%             | 2040-01-20      | Fixed         | 6.40%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic                                        | Dominican Republic Government Bond                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |    302000 | PA      | $223480.00    | 0.30%             | 2060-01-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Arab Republic of Egypt                                    | Arab Republic of Egypt                                                | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |    536000 | PA      | $340360.00    | 0.46%             | 2061-02-16      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Republic of Turkey                                        | Republic of Turkey                                                    | CUSIP: 900123AL4<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |     64000 | PA      | $74720.00     | 0.10%             | 2030-01-15      | Fixed         | 11.88%                | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                       | Petroleos Mexicanos                                                   | CUSIP: 71654QDD1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |     48000 | PA      | $32673.60     | 0.04%             | 2050-01-23      | Fixed         | 7.69%                 | No            |                  2 | On Loan: No      |
| Oriental Republic of Uruguay                              | Oriental Republic of Uruguay                                          | CUSIP: 760942AS1<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    100000 | PA      | $128000.00    | 0.17%             | 2036-03-21      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Republic of Turkey                                        | Republic of Turkey                                                    | CUSIP: 900123CT5<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    200000 | PA      | $189000.00    | 0.26%             | 2029-04-26      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                        | Dominican Republic Government Bond                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |    240000 | PA      | $198720.00    | 0.27%             | 2032-09-23      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Federative Republic of Brazil                             | Federative Republic of Brazil                                         | CUSIP: 105756BW9<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    200000 | PA      | $158000.00    | 0.21%             | 2045-01-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Republic of Guatemala                                     | Republic of Guatemala                                                 | CUSIP: N/A<br>LEI: 529900QKDFFU9UWW5315       | Long             | DBT              | NUSS              | GT        |    400000 | PA      | $366200.00    | 0.50%             | 2050-06-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Petronas Capital Ltd.                                     | Petronas Capital Ltd.                                                 | CUSIP: N/A<br>LEI: 549300G7YFX3540OYR85       | Long             | DBT              | CORP              | MY        |    200000 | PA      | $194162.50    | 0.26%             | 2025-03-18      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| DP World Ltd.                                             | DP World Ltd.                                                         | CUSIP: N/A<br>LEI: 549300M3U2DNF4QVSS04       | Long             | DBT              | CORP              | AE        |    270000 | PA      | $280428.75    | 0.38%             | 2037-07-02      | Fixed         | 6.85%                 | Yes           |                  2 | On Loan: No      |
| Republic of Senegal                                       | Republic of Senegal                                                   | CUSIP: N/A<br>LEI: 549300NP14ZLQGWIUZ97       | Long             | DBT              | NUSS              | SN        |    216000 | PA      | $154683.00    | 0.21%             | 2048-03-13      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Bahrain                                        | Kingdom of Bahrain                                                    | CUSIP: N/A<br>LEI: 549300RODM1WN85LFQ95       | Long             | DBT              | NUSS              | BH        |    189000 | PA      | $192933.56    | 0.26%             | 2026-01-26      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Hungary                                                   | Hungary Government Bond                                               | CUSIP: N/A<br>LEI: 5299003F3UFKGCCMAP43       | Long             | DBT              | NUSS              | HU        |    200000 | PA      | $119725.00    | 0.16%             | 2051-09-21      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| Oriental Republic of Uruguay                              | Oriental Republic of Uruguay                                          | CUSIP: 917288BK7<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    116000 | PA      | $116000.00    | 0.16%             | 2031-01-23      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| Republic of Colombia                                      | Republic of Colombia                                                  | CUSIP: 195325DQ5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    853000 | PA      | $573642.50    | 0.78%             | 2049-05-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                        | Dominican Republic Government Bond                                    | CUSIP: 25714PCF3<br>LEI: N/A                  | Long             | DBT              | NUSS              | DO        |    302000 | PA      | $281199.75    | 0.38%             | 2044-04-30      | Fixed         | 7.45%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Securities Lending Money Market Fund             | JPMorgan Securities Lending Money Market Fund, Class Agency SL Shares | CUSIP: 46645V642<br>LEI: 5493002FD4HXUJXMRO62 | Long             | STIV             | RF                | US        |   2800280 | NS      | $2800280.05   | 3.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Kingdom of Saudi Arabia                                   | Kingdom of Saudi Arabia                                               | CUSIP: N/A<br>LEI: 635400FMICXSM3SI3H65       | Long             | DBT              | NUSS              | SA        |    495000 | PA      | $486337.50    | 0.66%             | 2025-04-17      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Republic of Turkey                                        | Republic of Turkey                                                    | CUSIP: 900123DC1<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    509000 | PA      | $411017.50    | 0.56%             | 2031-06-26      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Republic of Chile                                         | Republic of Chile                                                     | CUSIP: 168863DX3<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |    200000 | PA      | $185400.00    | 0.25%             | 2027-01-31      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Federative Republic of Brazil                             | Federative Republic of Brazil                                         | CUSIP: 105756BR0<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    140000 | PA      | $122220.00    | 0.17%             | 2041-01-07      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                        | Dominican Republic Government Bond                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |    550000 | PA      | $466915.63    | 0.63%             | 2030-01-30      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| United Mexican States                                     | United Mexican States                                                 | CUSIP: 91086QBB3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |      4000 | PA      | $3373.25      | 0.00%             | 2044-03-08      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                     | United Mexican States                                                 | CUSIP: 91087BAM2<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    235000 | PA      | $194932.50    | 0.26%             | 2031-05-24      | Fixed         | 2.66%                 | No            |                  2 | On Loan: No      |
| Malaysia Sovereign Sukuk Bhd.                             | Malaysia Sovereign Sukuk Bhd.                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | MY        |    286000 | PA      | $275954.25    | 0.38%             | 2025-04-22      | Fixed         | 3.04%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic                                        | Dominican Republic Government Bond                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |    100000 | PA      | $97237.50     | 0.13%             | 2027-01-25      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| State Grid Overseas Investment BVI Ltd.                   | State Grid Overseas Investment BVI Ltd.                               | CUSIP: 857006AG5<br>LEI: 3003006V8BHG5158QO96 | Long             | DBT              | CORP              | VG        |      2000 | PA      | $1914.10      | 0.00%             | 2027-05-04      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Bahrain                                        | Kingdom of Bahrain                                                    | CUSIP: N/A<br>LEI: 549300RODM1WN85LFQ95       | Long             | DBT              | NUSS              | BH        |    328000 | PA      | $334826.50    | 0.46%             | 2026-01-26      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Federative Republic of Brazil                             | Federative Republic of Brazil                                         | CUSIP: 105756CC2<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    440000 | PA      | $383707.50    | 0.52%             | 2030-06-12      | Fixed         | 3.88%                 | No            |                  2 | On Loan: —       |
| Federative Republic of Brazil                             | Federative Republic of Brazil                                         | CUSIP: 105756AR1<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    446000 | PA      | $468104.88    | 0.64%             | 2024-04-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Republic of Trinidad & Tobago                             | Republic of Trinidad and Tobago                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | TT        |    200000 | PA      | $195225.00    | 0.27%             | 2026-08-04      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Republic of Kazakhstan                                    | Republic of Kazakhstan                                                | CUSIP: N/A<br>LEI: 5493007OEK8EF02UO833       | Long             | DBT              | NUSS              | KZ        |    280000 | PA      | $248780.00    | 0.34%             | 2044-10-14      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Emirate of Abu Dhabi United Arab Emirates                 | United Arab Emirates Government Bond                                  | CUSIP: N/A<br>LEI: 213800FER4348CINTA77       | Long             | DBT              | NUSS              | AE        |    200000 | PA      | $165975.00    | 0.23%             | 2050-04-16      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Republic of Peru                                          | Republic of Peru                                                      | CUSIP: 715638DP4<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    252000 | PA      | $189315.00    | 0.26%             | 2032-12-01      | Fixed         | 1.86%                 | No            |                  2 | On Loan: No      |
| Republic of Cote d'Ivoire                                 | Republic of Cote d'Ivoire                                             | CUSIP: N/A<br>LEI: 254900ICW11T82O6H590       | Long             | DBT              | NUSS              | CI        |    210000 | PA      | $185587.50    | 0.25%             | 2033-06-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Aeropuerto Internacional de Tocumen SA                    | Aeropuerto Internacional de Tocumen SA                                | CUSIP: N/A<br>LEI: 254900FO1PHX49ZIGB14       | Long             | DBT              | NUSS              | PA        |    200000 | PA      | $151412.50    | 0.21%             | 2061-08-11      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Saudi Arabia                                   | Kingdom of Saudi Arabia                                               | CUSIP: 80413TAF6<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |    247000 | PA      | $218286.25    | 0.30%             | 2047-10-04      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Republic of South Africa                                  | Republic of South Africa                                              | CUSIP: 836205BA1<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    400000 | PA      | $361450.00    | 0.49%             | 2029-09-30      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Kingdom of Bahrain                                        | Kingdom of Bahrain                                                    | CUSIP: 05674RAF1<br>LEI: 549300RODM1WN85LFQ95 | Long             | DBT              | NUSS              | BH        |    121000 | PA      | $123518.31    | 0.17%             | 2026-01-26      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Oman Sovereign Sukuk Co.                                  | Oman Sovereign Sukuk Co.                                              | CUSIP: N/A<br>LEI: 549300KM6RUZQLK8LU36       | Long             | DBT              | NUSS              | OM        |    346000 | PA      | $337782.50    | 0.46%             | 2024-06-01      | Fixed         | 4.40%                 | Yes           |                  2 | On Loan: No      |
| Petroleos del Peru SA                                     | Petroleos del Peru SA                                                 | CUSIP: 716564AB5<br>LEI: 549300ZMGDLC9JT2OR80 | Long             | DBT              | NUSS              | PE        |    200000 | PA      | $135748.00    | 0.18%             | 2047-06-19      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Corp. Nacional del Cobre de Chile                         | Corp. Nacional del Cobre de Chile                                     | CUSIP: N/A<br>LEI: 549300UVMBCBCIPSUI70       | Long             | DBT              | NUSS              | CL        |    320000 | PA      | $234880.00    | 0.32%             | 2050-01-30      | Fixed         | 3.70%                 | Yes           |                  2 | On Loan: No      |
| Export-Import Bank of India                               | Export-Import Bank of India                                           | CUSIP: 30216KAE2<br>LEI: 335800OFZ8YEIVN1QI11 | Long             | DBT              | NUSS              | IN        |    249000 | PA      | $216916.35    | 0.29%             | 2030-01-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Republic of Indonesia                                     | Republic of Indonesia                                                 | CUSIP: 455780CW4<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    583000 | PA      | $411807.88    | 0.56%             | 2051-03-12      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| KazMunayGas National Co. JSC                              | KazMunayGas National Co. JSC                                          | CUSIP: N/A<br>LEI: 2138001H1M69RFJCSH88       | Long             | DBT              | CORP              | KZ        |    200000 | PA      | $178875.00    | 0.24%             | 2030-04-24      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Republic of Indonesia                                     | Republic of Indonesia                                                 | CUSIP: N/A<br>LEI: 529900FWX0GRR7WG5W79       | Long             | DBT              | NUSS              | ID        |    100000 | PA      | $125706.25    | 0.17%             | 2035-10-12      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| People's Republic of China                                | People's Republic of China                                            | CUSIP: N/A<br>LEI: 300300CHN201808MOF68       | Long             | DBT              | NUSS              | CN        |    200000 | PA      | $195000.00    | 0.27%             | 2028-10-19      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Republic of South Africa                                  | Republic of South Africa                                              | CUSIP: 836205AQ7<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    232000 | PA      | $228491.00    | 0.31%             | 2024-01-17      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| Paraguay Government International Bond                    | Republic of Paraguay                                                  | CUSIP: N/A<br>LEI: 529900UXKJTJPCU0HK83       | Long             | DBT              | NUSS              | PY        |    400000 | PA      | $336325.00    | 0.46%             | 2050-03-30      | Fixed         | 5.40%                 | Yes           |                  2 | On Loan: No      |
| KSA Sukuk Ltd.                                            | KSA Sukuk Ltd.                                                        | CUSIP: N/A<br>LEI: 635400XBJFPNCGN9CK71       | Long             | DBT              | NUSS              | KY        |    200000 | PA      | $169000.00    | 0.23%             | 2031-05-17      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| People's Republic of China                                | People's Republic of China                                            | CUSIP: N/A<br>LEI: 300300CHN201808MOF68       | Long             | DBT              | NUSS              | CN        |    208000 | PA      | $188025.76    | 0.26%             | 2026-10-26      | Fixed         | 1.25%                 | Yes           |                  2 | On Loan: No      |
| Arab Republic of Egypt                                    | Arab Republic of Egypt                                                | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |      1000 | PA      | $990.00       | 0.00%             | 2023-02-21      | Fixed         | 5.58%                 | Yes           |                  2 | On Loan: No      |
| Republic of the Philippines                               | Republic of Philippines                                               | CUSIP: 718286BD8<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    159000 | PA      | $172134.99    | 0.23%             | 2032-01-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Republic of Peru                                          | Republic of Peru                                                      | CUSIP: 715638BU5<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    208000 | PA      | $202800.00    | 0.28%             | 2027-08-25      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                        | Dominican Republic Government Bond                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |    200000 | PA      | $173975.00    | 0.24%             | 2045-01-27      | Fixed         | 6.85%                 | Yes           |                  2 | On Loan: No      |
| United Mexican States                                     | United Mexican States                                                 | CUSIP: 91086QBG2<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    261000 | PA      | $255388.50    | 0.35%             | 2026-01-21      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CBB International Sukuk Co. 7 SPC                         | CBB International Sukuk Co. 7 SPC                                     | CUSIP: N/A<br>LEI: 549300W1SSDOZGRC5Z85       | Long             | DBT              | NUSS              | BH        |    200000 | PA      | $205850.00    | 0.28%             | 2025-10-05      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Saudi Arabia                                   | Kingdom of Saudi Arabia                                               | CUSIP: N/A<br>LEI: 635400FMICXSM3SI3H65       | Long             | DBT              | NUSS              | SA        |    270000 | PA      | $237262.50    | 0.32%             | 2060-04-22      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                       | Petroleos Mexicanos                                                   | CUSIP: 71654QDF6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    167000 | PA      | $105260.10    | 0.14%             | 2060-01-28      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Federative Republic of Brazil                             | Federative Republic of Brazil                                         | CUSIP: 105756BY5<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    342000 | PA      | $284715.00    | 0.39%             | 2047-02-21      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                     | United Mexican States                                                 | CUSIP: 91086QAV0<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     86000 | PA      | $86231.13     | 0.12%             | 2040-01-11      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Kingdom of Bahrain                                        | Kingdom of Bahrain                                                    | CUSIP: N/A<br>LEI: 549300RODM1WN85LFQ95       | Long             | DBT              | NUSS              | BH        |    334000 | PA      | $303940.00    | 0.41%             | 2031-09-30      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Minmetals Bounteous Finance BVI Ltd.                      | Minmetals Bounteous Finance BVI Ltd.                                  | CUSIP: N/A<br>LEI: 3003005FATJ63Y0MR949       | Long             | DBT              | CORP              | VG        |    200000 | PA      | $189000.00    | 0.26%             | 2024-09-03      | Variable      | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Saudi Arabia                                   | Kingdom of Saudi Arabia                                               | CUSIP: N/A<br>LEI: 635400FMICXSM3SI3H65       | Long             | DBT              | NUSS              | SA        |    254000 | PA      | $224472.50    | 0.31%             | 2047-10-04      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Federative Republic of Brazil                             | Federative Republic of Brazil                                         | CUSIP: 105756BV1<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    227000 | PA      | $222431.63    | 0.30%             | 2025-01-07      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Kingdom of Bahrain                                        | Kingdom of Bahrain                                                    | CUSIP: N/A<br>LEI: 549300RODM1WN85LFQ95       | Long             | DBT              | NUSS              | BH        |    560000 | PA      | $555905.00    | 0.76%             | 2029-09-20      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Oman Government International Bond                        | Sultanate of Oman Government Bond                                     | CUSIP: N/A<br>LEI: 549300SZ20F0QTKNQC75       | Long             | DBT              | NUSS              | OM        |    550000 | PA      | $503937.50    | 0.69%             | 2048-01-17      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic                                        | Dominican Republic Government Bond                                    | CUSIP: 25714PDT2<br>LEI: N/A                  | Long             | DBT              | NUSS              | DO        |    198000 | PA      | $192530.25    | 0.26%             | 2027-01-25      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| State of Qatar                                            | State of Qatar                                                        | CUSIP: N/A<br>LEI: 52990074F6OJOAXK4P65       | Long             | DBT              | NUSS              | QA        |    450000 | PA      | $439875.00    | 0.60%             | 2024-03-14      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| MDGH GMTN RSC Ltd.                                        | MDGH GMTN RSC Ltd.                                                    | CUSIP: N/A<br>LEI: 213800WRY6FRL9IXLT77       | Long             | DBT              | CORP              | AE        |    200000 | PA      | $178475.00    | 0.24%             | 2029-11-07      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Republic of Kazakhstan                                    | Republic of Kazakhstan                                                | CUSIP: 486661AE1<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |    350000 | PA      | $351159.38    | 0.48%             | 2024-10-14      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Kuwait International Government Bond                      | State of Kuwait                                                       | CUSIP: N/A<br>LEI: 549300FSC1YD0D9XX589       | Long             | DBT              | NUSS              | KW        |    200000 | PA      | $192100.00    | 0.26%             | 2027-03-20      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Oman Government International Bond                        | Sultanate of Oman Government Bond                                     | CUSIP: N/A<br>LEI: 549300SZ20F0QTKNQC75       | Long             | DBT              | NUSS              | OM        |    200000 | PA      | $215000.00    | 0.29%             | 2032-10-28      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Qatar Energy                                              | Qatar Energy                                                          | CUSIP: N/A<br>LEI: 254900QTESJKJ3P87J26       | Long             | DBT              | NUSS              | QA        |    300000 | PA      | $226931.25    | 0.31%             | 2041-07-12      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| Kuwait International Government Bond                      | State of Kuwait                                                       | CUSIP: 501499AB3<br>LEI: 549300FSC1YD0D9XX589 | Long             | DBT              | NUSS              | KW        |    200000 | PA      | $192100.00    | 0.26%             | 2027-03-20      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Emirate of Abu Dhabi United Arab Emirates                 | United Arab Emirates Government Bond                                  | CUSIP: N/A<br>LEI: 213800FER4348CINTA77       | Long             | DBT              | NUSS              | AE        |    300000 | PA      | $286931.25    | 0.39%             | 2027-10-11      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| Republic of Poland                                        | Republic of Poland                                                    | CUSIP: 731011AU6<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |    180000 | PA      | $171315.00    | 0.23%             | 2026-04-06      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Corp. Nacional del Cobre de Chile                         | Corp. Nacional del Cobre de Chile                                     | CUSIP: N/A<br>LEI: 549300UVMBCBCIPSUI70       | Long             | DBT              | NUSS              | CL        |    200000 | PA      | $163850.00    | 0.22%             | 2049-02-05      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Republic of Peru                                          | Republic of Peru                                                      | CUSIP: 715638AP7<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |      8000 | PA      | $9930.00      | 0.01%             | 2033-11-21      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Republic of Panama                                        | Republic of Panama                                                    | CUSIP: 698299BB9<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    296000 | PA      | $220520.00    | 0.30%             | 2053-04-29      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Sinopec Group Overseas Development 2018 Ltd.              | Sinopec Group Overseas Development 2018 Ltd.                          | CUSIP: N/A<br>LEI: 549300C6OZZ8LTVR8209       | Long             | DBT              | CORP              | VG        |    396000 | PA      | $369222.48    | 0.50%             | 2025-05-13      | Fixed         | 2.15%                 | Yes           |                  2 | On Loan: No      |
| Oriental Republic of Uruguay                              | Oriental Republic of Uruguay                                          | CUSIP: 760942AZ5<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |     36000 | PA      | $36054.00     | 0.05%             | 2024-08-14      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Republic of Colombia                                      | Republic of Colombia                                                  | CUSIP: 195325DZ5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    512000 | PA      | $366080.00    | 0.50%             | 2032-04-22      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Republic of Turkey                                        | Republic of Turkey                                                    | CUSIP: 900123DA5<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    600000 | PA      | $492000.00    | 0.67%             | 2031-01-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: —       |
| Republic of Panama                                        | Republic of Panama                                                    | CUSIP: 698299BH6<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    200000 | PA      | $154100.00    | 0.21%             | 2050-04-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federative Republic of Brazil                             | Federative Republic of Brazil                                         | CUSIP: 105756CE8<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    200000 | PA      | $171200.00    | 0.23%             | 2031-09-12      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Arab Republic of Egypt                                    | Arab Republic of Egypt                                                | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |     25000 | PA      | $22343.75     | 0.03%             | 2027-01-31      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Republic of Chile                                         | Republic of Chile                                                     | CUSIP: 168863DS4<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |    200000 | PA      | $147100.00    | 0.20%             | 2041-05-07      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Republic of Kenya                                         | Republic of Kenya                                                     | CUSIP: N/A<br>LEI: 549300VVURQQYU45PR87       | Long             | DBT              | NUSS              | KE        |    335000 | PA      | $262556.25    | 0.36%             | 2048-02-28      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Serbia International Bond                                 | Republic of Serbia                                                    | CUSIP: N/A<br>LEI: 254900W94OCY91V32O78       | Long             | DBT              | NUSS              | RS        |    230000 | PA      | $168518.13    | 0.23%             | 2030-12-01      | Fixed         | 2.12%                 | Yes           |                  2 | On Loan: No      |
| State of Qatar                                            | State of Qatar                                                        | CUSIP: N/A<br>LEI: 52990074F6OJOAXK4P65       | Long             | DBT              | NUSS              | QA        |    200000 | PA      | $193000.00    | 0.26%             | 2049-03-14      | Fixed         | 4.82%                 | Yes           |                  2 | On Loan: No      |
| Hashemite Kingdom of Jordan                               | Hashemite Kingdom of Jordan                                           | CUSIP: N/A<br>LEI: 5493000JZ4MYPVMBVN50       | Long             | DBT              | NUSS              | JO        |    200000 | PA      | $167000.00    | 0.23%             | 2047-10-10      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Republic of Turkey                                        | Republic of Turkey                                                    | CUSIP: 900123CF5<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    275000 | PA      | $273625.00    | 0.37%             | 2024-03-22      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| Petroleos Mexicanos                                       | Petroleos Mexicanos                                                   | CUSIP: 71654QBW1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    214000 | PA      | $192600.00    | 0.26%             | 2026-01-23      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                        | Dominican Republic Government Bond                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |    308000 | PA      | $249441.50    | 0.34%             | 2049-06-05      | Fixed         | 6.40%                 | Yes           |                  2 | On Loan: No      |
| Oman Sovereign Sukuk Co.                                  | Oman Sovereign Sukuk Co.                                              | CUSIP: N/A<br>LEI: 549300KM6RUZQLK8LU36       | Long             | DBT              | NUSS              | OM        |    201000 | PA      | $194882.06    | 0.26%             | 2030-06-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Republic of Kenya                                         | Republic of Kenya                                                     | CUSIP: N/A<br>LEI: 549300VVURQQYU45PR87       | Long             | DBT              | NUSS              | KE        |    302000 | PA      | $278595.00    | 0.38%             | 2024-06-24      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Republic of Colombia                                      | Republic of Colombia                                                  | CUSIP: 195325BQ7<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    200000 | PA      | $193787.50    | 0.26%             | 2024-02-26      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federative Republic of Brazil                             | Federative Republic of Brazil                                         | CUSIP: 105756BZ2<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    480000 | PA      | $460740.00    | 0.63%             | 2028-01-13      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Gabonese Republic                                         | Gabonese Republic                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | GA        |    200000 | PA      | $164787.50    | 0.22%             | 2031-02-06      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Romania                                                   | Romania Government Bond                                               | CUSIP: 77586RAF7<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     90000 | PA      | $71679.38     | 0.10%             | 2048-06-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Republic of Peru                                          | Republic of Peru                                                      | CUSIP: 715638DS8<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     56000 | PA      | $41776.00     | 0.06%             | 2041-03-11      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                        | Dominican Republic Government Bond                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |    507000 | PA      | $512323.50    | 0.70%             | 2026-01-29      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Perusahaan Perseroan Persero PT Perusahaan Listrik Negara | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara             | CUSIP: 71568QAF4<br>LEI: 254900OYVDRYS9J51J61 | Long             | DBT              | NUSS              | ID        |    201000 | PA      | $184529.06    | 0.25%             | 2048-05-21      | Fixed         | 6.15%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Saudi Arabia                                   | Kingdom of Saudi Arabia                                               | CUSIP: N/A<br>LEI: 635400FMICXSM3SI3H65       | Long             | DBT              | NUSS              | SA        |    326000 | PA      | $310515.00    | 0.42%             | 2028-03-04      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Federative Republic of Brazil                             | Federative Republic of Brazil                                         | CUSIP: 105756BK5<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    395000 | PA      | $419193.75    | 0.57%             | 2037-01-20      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Republic of Turkey                                        | Republic of Turkey                                                    | CUSIP: 900123DB3<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    624000 | PA      | $564720.00    | 0.77%             | 2026-01-26      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Republic of Turkey                                        | Republic of Turkey                                                    | CUSIP: 900123CJ7<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    256000 | PA      | $226560.00    | 0.31%             | 2026-04-14      | Fixed         | 4.25%                 | No            |                  2 | On Loan: —       |
| KazMunayGas National Co. JSC                              | KazMunayGas National Co. JSC                                          | CUSIP: N/A<br>LEI: 2138001H1M69RFJCSH88       | Long             | DBT              | CORP              | KZ        |    200000 | PA      | $150175.00    | 0.20%             | 2047-04-19      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Republic of South Africa                                  | Republic of South Africa                                              | CUSIP: 836205BC7<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    275000 | PA      | $252312.50    | 0.34%             | 2032-04-20      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Eskom Holdings SOC Ltd.                                   | Eskom Holdings SOC Ltd.                                               | CUSIP: 29646AAC0<br>LEI: 3789001900ED06F65111 | Long             | DBT              | NUSS              | ZA        |    240000 | PA      | $224400.00    | 0.31%             | 2028-08-10      | Fixed         | 6.35%                 | Yes           |                  2 | On Loan: No      |
| Perusahaan Penerbit SBSN Indonesia III                    | Perusahaan Penerbit SBSN Indonesia III                                | CUSIP: 71567PAH3<br>LEI: 254900G208H6Q0L5B953 | Long             | DBT              | NUSS              | ID        |    200000 | PA      | $194787.50    | 0.26%             | 2027-03-29      | Fixed         | 4.15%                 | Yes           |                  2 | On Loan: No      |
| Republic of Panama                                        | Republic of Panama                                                    | CUSIP: 698299BF0<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    207000 | PA      | $196106.63    | 0.27%             | 2028-03-17      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Republic of Turkey                                        | Republic of Turkey                                                    | CUSIP: 900123CL2<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    470000 | PA      | $430050.00    | 0.58%             | 2027-03-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Arab Republic of Egypt                                    | Arab Republic of Egypt                                                | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |    400000 | PA      | $300825.00    | 0.41%             | 2032-05-29      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Republic of Chile                                         | Republic of Chile                                                     | CUSIP: 168863CE6<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |    200000 | PA      | $159250.00    | 0.22%             | 2047-06-21      | Fixed         | 3.86%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                  | Republic of South Africa                                              | CUSIP: 836205AR5<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    518000 | PA      | $520849.00    | 0.71%             | 2025-09-16      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Republic of Colombia                                      | Republic of Colombia                                                  | CUSIP: 195325BM6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    325000 | PA      | $255125.00    | 0.35%             | 2041-01-18      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Federative Republic of Brazil                             | Federative Republic of Brazil                                         | CUSIP: 105756BX7<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    589000 | PA      | $608068.88    | 0.83%             | 2026-04-07      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Kingdom of Bahrain                                        | Kingdom of Bahrain                                                    | CUSIP: N/A<br>LEI: 549300RODM1WN85LFQ95       | Long             | DBT              | NUSS              | BH        |    228000 | PA      | $175602.75    | 0.24%             | 2044-09-19      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Paraguay Government International Bond                    | Republic of Paraguay                                                  | CUSIP: N/A<br>LEI: 529900UXKJTJPCU0HK83       | Long             | DBT              | NUSS              | PY        |    200000 | PA      | $192350.00    | 0.26%             | 2031-04-28      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| Republic of Turkey                                        | Republic of Turkey                                                    | CUSIP: 900123CG3<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    255000 | PA      | $193800.00    | 0.26%             | 2045-02-17      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Republic of the Philippines                               | Republic of Philippines                                               | CUSIP: 718286BW6<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    200000 | PA      | $193022.00    | 0.26%             | 2037-01-13      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                  | Republic of South Africa                                              | CUSIP: 836205AY0<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    465000 | PA      | $440529.38    | 0.60%             | 2030-06-22      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| Republic of the Philippines                               | Republic of Philippines                                               | CUSIP: 718286AP2<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |     64000 | PA      | $71927.04     | 0.10%             | 2025-03-16      | Fixed         | 10.62%                | No            |                  2 | On Loan: No      |
| Dominican Republic                                        | Dominican Republic Government Bond                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |    128000 | PA      | $119184.00    | 0.16%             | 2044-04-30      | Fixed         | 7.45%                 | Yes           |                  2 | On Loan: No      |
| Petronas Capital Ltd.                                     | Petronas Capital Ltd.                                                 | CUSIP: N/A<br>LEI: 549300G7YFX3540OYR85       | Long             | DBT              | CORP              | MY        |    306000 | PA      | $215497.44    | 0.29%             | 2061-04-28      | Fixed         | 3.40%                 | Yes           |                  2 | On Loan: No      |
| Republic of Peru                                          | Republic of Peru                                                      | CUSIP: 715638BM3<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     66000 | PA      | $66165.00     | 0.09%             | 2050-11-18      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| MDGH GMTN RSC Ltd.                                        | MDGH GMTN RSC Ltd.                                                    | CUSIP: N/A<br>LEI: 213800WRY6FRL9IXLT77       | Long             | DBT              | CORP              | AE        |    201000 | PA      | $176038.31    | 0.24%             | 2030-05-21      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Republic of Peru                                          | Republic of Peru                                                      | CUSIP: 715638DQ2<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     50000 | PA      | $30187.50     | 0.04%             | 2060-12-01      | Fixed         | 2.78%                 | No            |                  2 | On Loan: No      |
| Republic of Cote d'Ivoire                                 | Republic of Cote d'Ivoire                                             | CUSIP: N/A<br>LEI: 254900ICW11T82O6H590       | Long             | DBT              | NUSS              | CI        |    200000 | PA      | $176750.00    | 0.24%             | 2033-06-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Republic of Poland                                        | Republic of Poland                                                    | CUSIP: 857524AC6<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |    130000 | PA      | $128358.75    | 0.17%             | 2024-01-22      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Oman Government International Bond                        | Sultanate of Oman Government Bond                                     | CUSIP: N/A<br>LEI: 549300SZ20F0QTKNQC75       | Long             | DBT              | NUSS              | OM        |    200000 | PA      | $196000.00    | 0.27%             | 2025-02-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Republic of Costa Rica                                    | Republic of Costa Rica                                                | CUSIP: N/A<br>LEI: 549300S1EK2VN6XVJP58       | Long             | DBT              | NUSS              | CR        |    200000 | PA      | $193500.00    | 0.26%             | 2031-02-19      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Oman Government International Bond                        | Sultanate of Oman Government Bond                                     | CUSIP: N/A<br>LEI: 549300SZ20F0QTKNQC75       | Long             | DBT              | NUSS              | OM        |    200000 | PA      | $206662.50    | 0.28%             | 2027-10-28      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic                                        | Dominican Republic Government Bond                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |    200000 | PA      | $192500.00    | 0.26%             | 2028-07-19      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Oil and Gas Holding Co. BSCC (The)                        | Oil and Gas Holding Co. BSCC (The)                                    | CUSIP: 67778M2A7<br>LEI: 549300OBH16L6TS6IW50 | Long             | DBT              | CORP              | BH        |    203000 | PA      | $203609.00    | 0.28%             | 2027-10-25      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Arab Republic of Egypt                                    | Arab Republic of Egypt                                                | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |    880000 | PA      | $587400.00    | 0.80%             | 2049-03-01      | Fixed         | 8.70%                 | Yes           |                  2 | On Loan: No      |
| Republic of South Africa                                  | Republic of South Africa                                              | CUSIP: 836205BB9<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    274000 | PA      | $208240.00    | 0.28%             | 2049-09-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Republic of Colombia                                      | Republic of Colombia                                                  | CUSIP: 195325CU7<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    637000 | PA      | $426710.38    | 0.58%             | 2045-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                  | Republic of South Africa                                              | CUSIP: 836205AX2<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    645000 | PA      | $487781.25    | 0.66%             | 2047-09-27      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Kingdom of Saudi Arabia                                   | Kingdom of Saudi Arabia                                               | CUSIP: N/A<br>LEI: 635400FMICXSM3SI3H65       | Long             | DBT              | NUSS              | SA        |    200000 | PA      | $174750.00    | 0.24%             | 2046-10-26      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Bahrain                                        | Kingdom of Bahrain                                                    | CUSIP: N/A<br>LEI: 549300RODM1WN85LFQ95       | Long             | DBT              | NUSS              | BH        |    200000 | PA      | $168750.00    | 0.23%             | 2033-01-25      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Republic of Peru                                          | Republic of Peru                                                      | CUSIP: 715638DR0<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    578000 | PA      | $346800.00    | 0.47%             | 2121-07-28      | Fixed         | 3.23%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                        | Dominican Republic Government Bond                                    | CUSIP: 25714PEB0<br>LEI: N/A                  | Long             | DBT              | NUSS              | DO        |    305000 | PA      | $247011.88    | 0.34%             | 2049-06-05      | Fixed         | 6.40%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Saudi Arabia                                   | Kingdom of Saudi Arabia                                               | CUSIP: 80413TAH2<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |    282000 | PA      | $279180.00    | 0.38%             | 2030-04-17      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Republic of South Africa                                  | Republic of South Africa                                              | CUSIP: 836205AT1<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    200000 | PA      | $195725.00    | 0.27%             | 2026-04-14      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| Emirate of Abu Dhabi United Arab Emirates                 | United Arab Emirates Government Bond                                  | CUSIP: 29135LAF7<br>LEI: 213800FER4348CINTA77 | Long             | DBT              | NUSS              | AE        |    265000 | PA      | $192174.69    | 0.26%             | 2049-09-30      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| Republic of Peru                                          | Republic of Peru                                                      | CUSIP: 715638DU3<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |      8000 | PA      | $6484.00      | 0.01%             | 2034-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CNAC HK Finbridge Co. Ltd.                                | CNAC HK Finbridge Co. Ltd.                                            | CUSIP: N/A<br>LEI: 549300US1UQ7R7WABI28       | Long             | DBT              | CORP              | HK        |    200000 | PA      | $182888.00    | 0.25%             | 2027-07-19      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Republic of Costa Rica                                    | Republic of Costa Rica                                                | CUSIP: N/A<br>LEI: 549300S1EK2VN6XVJP58       | Long             | DBT              | NUSS              | CR        |    238000 | PA      | $222232.50    | 0.30%             | 2044-04-04      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Republic of Colombia                                      | Republic of Colombia                                                  | CUSIP: 195325CX1<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    200000 | PA      | $186000.00    | 0.25%             | 2026-01-28      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| People's Republic of China                                | People's Republic of China                                            | CUSIP: N/A<br>LEI: 300300CHN201808MOF68       | Long             | DBT              | NUSS              | CN        |    200000 | PA      | $164502.00    | 0.22%             | 2030-10-21      | Fixed         | 1.20%                 | Yes           |                  2 | On Loan: No      |
| Republic of Colombia                                      | Republic of Colombia                                                  | CUSIP: 195325BD6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    238000 | PA      | $243102.13    | 0.33%             | 2024-05-21      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Republic of Colombia                                      | Republic of Colombia                                                  | CUSIP: 195325BK0<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    284000 | PA      | $262700.00    | 0.36%             | 2037-09-18      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| State of Qatar                                            | State of Qatar                                                        | CUSIP: N/A<br>LEI: 52990074F6OJOAXK4P65       | Long             | DBT              | NUSS              | QA        |    164000 | PA      | $218940.00    | 0.30%             | 2030-06-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Federative Republic of Brazil                             | Federative Republic of Brazil                                         | CUSIP: 105756CB4<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    871000 | PA      | $639259.56    | 0.87%             | 2050-01-14      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                       | Petroleos Mexicanos                                                   | CUSIP: 71654QCC4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    344000 | PA      | $218870.00    | 0.30%             | 2047-09-21      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Romania                                                   | Romania Government Bond                                               | CUSIP: N/A<br>LEI: 315700IASY927EDWBK92       | Long             | DBT              | NUSS              | RO        |     74000 | PA      | $71770.75     | 0.10%             | 2027-11-25      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Republic of Panama                                        | Republic of Panama                                                    | CUSIP: 698299BL7<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    350000 | PA      | $232925.00    | 0.32%             | 2060-07-23      | Fixed         | 3.87%                 | No            |                  2 | On Loan: No      |
| Oman Government International Bond                        | Sultanate of Oman Government Bond                                     | CUSIP: N/A<br>LEI: 549300SZ20F0QTKNQC75       | Long             | DBT              | NUSS              | OM        |    500000 | PA      | $489375.00    | 0.67%             | 2028-01-17      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Republic of Indonesia                                     | Republic of Indonesia                                                 | CUSIP: 455780CF1<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    200000 | PA      | $195500.00    | 0.27%             | 2028-04-24      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Federative Republic of Brazil                             | Federative Republic of Brazil                                         | CUSIP: 105756CD0<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    472000 | PA      | $446748.00    | 0.61%             | 2025-06-06      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Romania                                                   | Romania Government Bond                                               | CUSIP: N/A<br>LEI: 315700IASY927EDWBK92       | Long             | DBT              | NUSS              | RO        |    366000 | PA      | $243115.50    | 0.33%             | 2051-02-14      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Perusahaan Penerbit SBSN Indonesia III                    | Perusahaan Penerbit SBSN Indonesia III                                | CUSIP: 71567RAR7<br>LEI: 254900G208H6Q0L5B953 | Long             | DBT              | NUSS              | ID        |    200000 | PA      | $179272.00    | 0.24%             | 2026-06-09      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| Hashemite Kingdom of Jordan                               | Hashemite Kingdom of Jordan                                           | CUSIP: N/A<br>LEI: 5493000JZ4MYPVMBVN50       | Long             | DBT              | NUSS              | JO        |    536000 | PA      | $477643.00    | 0.65%             | 2030-07-07      | Fixed         | 5.85%                 | Yes           |                  2 | On Loan: No      |
| Republic of Colombia                                      | Republic of Colombia                                                  | CUSIP: 195325DS1<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    200000 | PA      | $148000.00    | 0.20%             | 2031-04-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| State of Qatar                                            | State of Qatar                                                        | CUSIP: N/A<br>LEI: 52990074F6OJOAXK4P65       | Long             | DBT              | NUSS              | QA        |    200000 | PA      | $200000.00    | 0.27%             | 2048-04-23      | Fixed         | 5.10%                 | Yes           |                  2 | On Loan: No      |
| Oriental Republic of Uruguay                              | Oriental Republic of Uruguay                                          | CUSIP: 760942BD3<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    381000 | PA      | $368617.50    | 0.50%             | 2055-04-20      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| Romania                                                   | Romania Government Bond                                               | CUSIP: 77586TAE6<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     32000 | PA      | $29126.00     | 0.04%             | 2044-01-22      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Bahrain                                        | Kingdom of Bahrain                                                    | CUSIP: 05674RAG9<br>LEI: 549300RODM1WN85LFQ95 | Long             | DBT              | NUSS              | BH        |    402000 | PA      | $403331.63    | 0.55%             | 2028-10-12      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Emirate of Abu Dhabi United Arab Emirates                 | United Arab Emirates Government Bond                                  | CUSIP: N/A<br>LEI: 213800FER4348CINTA77       | Long             | DBT              | NUSS              | AE        |    200000 | PA      | $191350.00    | 0.26%             | 2025-04-16      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Sinopec Group Overseas Development 2017 Ltd.              | Sinopec Group Overseas Development 2017 Ltd.                          | CUSIP: 82938NAC8<br>LEI: 5493001IPW8ZGQ181Z16 | Long             | DBT              | CORP              | VG        |    200000 | PA      | $191728.00    | 0.26%             | 2027-04-12      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic                                        | Dominican Republic Government Bond                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |    100000 | PA      | $97237.50     | 0.13%             | 2027-01-25      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| United Mexican States                                     | United Mexican States                                                 | CUSIP: 91087BAF7<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    200000 | PA      | $194600.00    | 0.26%             | 2029-04-22      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                     | United Mexican States                                                 | CUSIP: 91086QAZ1<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    122000 | PA      | $105552.88    | 0.14%             | 2110-10-12      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Republic of Indonesia                                     | Republic of Indonesia                                                 | CUSIP: N/A<br>LEI: 529900FWX0GRR7WG5W79       | Long             | DBT              | NUSS              | ID        |    100000 | PA      | $120125.00    | 0.16%             | 2038-01-17      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic                                        | Dominican Republic Government Bond                                    | CUSIP: 25714PDZ8<br>LEI: N/A                  | Long             | DBT              | NUSS              | DO        |    208000 | PA      | $200200.00    | 0.27%             | 2028-07-19      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Republic of Panama                                        | Republic of Panama                                                    | CUSIP: 698299BK9<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    200000 | PA      | $173475.00    | 0.24%             | 2030-01-23      | Fixed         | 3.16%                 | No            |                  2 | On Loan: No      |
| Republic of Indonesia                                     | Republic of Indonesia                                                 | CUSIP: N/A<br>LEI: 529900FWX0GRR7WG5W79       | Long             | DBT              | NUSS              | ID        |    104000 | PA      | $130734.50    | 0.18%             | 2035-10-12      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Southern Gas Corridor CJSC                                | Southern Gas Corridor CJSC                                            | CUSIP: 84302LAA0<br>LEI: 213800DG58KG59XY6318 | Long             | DBT              | NUSS              | AZ        |    393000 | PA      | $401695.13    | 0.55%             | 2026-03-24      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Republic of Colombia                                      | Republic of Colombia                                                  | CUSIP: 195325DR3<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    222000 | PA      | $167055.00    | 0.23%             | 2030-01-30      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Republic of Chile                                         | Republic of Chile                                                     | CUSIP: N/A<br>LEI: 549300FLZTJM5YJF8D34       | Long             | DBT              | NUSS              | CL        |    272000 | PA      | $198220.00    | 0.27%             | 2053-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Jamaica                                                   | Jamaica Government Bond                                               | CUSIP: 470160CB6<br>LEI: 529900Y93KNSXZI8KK56 | Long             | DBT              | NUSS              | JM        |    471000 | PA      | $515980.50    | 0.70%             | 2045-07-28      | Fixed         | 7.88%                 | No            |                  2 | On Loan: —       |
| Kingdom of Bahrain                                        | Kingdom of Bahrain                                                    | CUSIP: N/A<br>LEI: 549300RODM1WN85LFQ95       | Long             | DBT              | NUSS              | BH        |    400000 | PA      | $401325.00    | 0.55%             | 2028-10-12      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic                                        | Dominican Republic Government Bond                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |     49000 | PA      | $47162.50     | 0.06%             | 2028-07-19      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Republic of the Philippines                               | Republic of Philippines                                               | CUSIP: 718286CJ4<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |      1000 | PA      | $855.11       | 0.00%             | 2030-05-05      | Fixed         | 2.46%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                  | Republic of South Africa                                              | CUSIP: 836205AS3<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    200000 | PA      | $152975.00    | 0.21%             | 2044-07-24      | Fixed         | 5.38%                 | No            |                  2 | On Loan: —       |
| Kingdom of Morocco                                        | Kingdom of Morocco                                                    | CUSIP: N/A<br>LEI: 529900F3MBW9XY5K1X07       | Long             | DBT              | NUSS              | MA        |    400000 | PA      | $318325.00    | 0.43%             | 2032-12-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic                                        | Dominican Republic Government Bond                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |    220000 | PA      | $219078.75    | 0.30%             | 2025-01-27      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Oman Sovereign Sukuk Co.                                  | Oman Sovereign Sukuk Co.                                              | CUSIP: N/A<br>LEI: 549300KM6RUZQLK8LU36       | Long             | DBT              | NUSS              | OM        |    533000 | PA      | $537663.75    | 0.73%             | 2025-10-31      | Fixed         | 5.93%                 | Yes           |                  2 | On Loan: No      |
| Arab Republic of Egypt                                    | Arab Republic of Egypt                                                | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |    632000 | PA      | $406060.00    | 0.55%             | 2048-02-21      | Fixed         | 7.90%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                       | Petroleos Mexicanos                                                   | CUSIP: 706451BG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    270000 | PA      | $189837.00    | 0.26%             | 2035-06-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Republic of the Philippines                               | Republic of Philippines                                               | CUSIP: 718286CA3<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    200000 | PA      | $161522.00    | 0.22%             | 2041-03-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Federative Republic of Brazil                             | Federative Republic of Brazil                                         | CUSIP: 105756BB5<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    380000 | PA      | $431608.75    | 0.59%             | 2034-01-20      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Oman Government International Bond                        | Sultanate of Oman Government Bond                                     | CUSIP: N/A<br>LEI: 549300SZ20F0QTKNQC75       | Long             | DBT              | NUSS              | OM        |    200000 | PA      | $187000.00    | 0.25%             | 2051-01-25      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Hungary                                                   | Hungary Government Bond                                               | CUSIP: 445545AJ5<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    144000 | PA      | $143982.00    | 0.20%             | 2023-11-22      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Republic of Colombia                                      | Republic of Colombia                                                  | CUSIP: 195325BR5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    472000 | PA      | $334176.00    | 0.45%             | 2044-02-26      | Fixed         | 5.62%                 | No            |                  2 | On Loan: —       |
| Kingdom of Morocco                                        | Kingdom of Morocco                                                    | CUSIP: N/A<br>LEI: 529900F3MBW9XY5K1X07       | Long             | DBT              | NUSS              | MA        |    200000 | PA      | $137100.00    | 0.19%             | 2050-12-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| State of Qatar                                            | State of Qatar                                                        | CUSIP: 74727PAV3<br>LEI: 52990074F6OJOAXK4P65 | Long             | DBT              | NUSS              | QA        |    276000 | PA      | $258060.00    | 0.35%             | 2046-06-02      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Republic of Kenya                                         | Republic of Kenya                                                     | CUSIP: N/A<br>LEI: 549300VVURQQYU45PR87       | Long             | DBT              | NUSS              | KE        |    200000 | PA      | $173500.00    | 0.24%             | 2032-05-22      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Arab Republic of Egypt                                    | Arab Republic of Egypt                                                | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |    664000 | PA      | $542820.00    | 0.74%             | 2029-03-01      | Fixed         | 7.60%                 | Yes           |                  2 | On Loan: No      |
| UAE International Government Bond                         | UAE International Government Bond                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | AE        |    200000 | PA      | $166350.00    | 0.23%             | 2031-10-19      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| Republic of Costa Rica                                    | Republic of Costa Rica                                                | CUSIP: N/A<br>LEI: 549300S1EK2VN6XVJP58       | Long             | DBT              | NUSS              | CR        |    237000 | PA      | $223965.00    | 0.30%             | 2045-03-12      | Fixed         | 7.16%                 | Yes           |                  2 | On Loan: No      |
| Republic of the Philippines                               | Republic of Philippines                                               | CUSIP: 718286BZ9<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    400000 | PA      | $334044.00    | 0.45%             | 2040-01-20      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Hashemite Kingdom of Jordan                               | Hashemite Kingdom of Jordan                                           | CUSIP: 418097AG6<br>LEI: 5493000JZ4MYPVMBVN50 | Long             | DBT              | NUSS              | JO        |    346000 | PA      | $343469.88    | 0.47%             | 2026-01-29      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Republic of the Philippines                               | Republic of Philippines                                               | CUSIP: 718286CB1<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    200000 | PA      | $161022.00    | 0.22%             | 2042-02-02      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Oman Government International Bond                        | Sultanate of Oman Government Bond                                     | CUSIP: 68205LAB9<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |    221000 | PA      | $218237.50    | 0.30%             | 2029-08-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Arab Republic of Egypt                                    | Arab Republic of Egypt                                                | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |    200000 | PA      | $192000.00    | 0.26%             | 2024-05-29      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan U.S. Government Money Market Fund                | JPMorgan U.S. Government Money Market Fund, Share Class IM            | CUSIP: 4812C2270<br>LEI: 549300NQ5E5B7ZV4T516 | Long             | STIV             | RF                | US        |   2011387 | NS      | $2011387.00   | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Turkey                                        | Republic of Turkey                                                    | CUSIP: 900123CK4<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    200000 | PA      | $178000.00    | 0.24%             | 2026-10-09      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Republic of Turkey                                        | Republic of Turkey                                                    | CUSIP: 900123BG4<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    646000 | PA      | $511955.00    | 0.70%             | 2040-05-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| Dominican Republic                                        | Dominican Republic Government Bond                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |    202000 | PA      | $163594.75    | 0.22%             | 2049-06-05      | Fixed         | 6.40%                 | Yes           |                  2 | On Loan: No      |
| Republic of Chile                                         | Republic of Chile                                                     | CUSIP: 168863DT2<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |    200000 | PA      | $159900.00    | 0.22%             | 2033-07-27      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Emirate of Abu Dhabi United Arab Emirates                 | United Arab Emirates Government Bond                                  | CUSIP: N/A<br>LEI: 213800FER4348CINTA77       | Long             | DBT              | NUSS              | AE        |    232000 | PA      | $191298.50    | 0.26%             | 2031-09-15      | Fixed         | 1.88%                 | Yes           |                  2 | On Loan: No      |
| Republic of Costa Rica                                    | Republic of Costa Rica                                                | CUSIP: N/A<br>LEI: 549300S1EK2VN6XVJP58       | Long             | DBT              | NUSS              | CR        |    256000 | PA      | $239040.00    | 0.32%             | 2044-04-04      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Oman Government International Bond                        | Sultanate of Oman Government Bond                                     | CUSIP: N/A<br>LEI: 549300SZ20F0QTKNQC75       | Long             | DBT              | NUSS              | OM        |    500000 | PA      | $480000.00    | 0.65%             | 2026-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| State Grid Overseas Investment BVI Ltd.                   | State Grid Overseas Investment BVI Ltd.                               | CUSIP: N/A<br>LEI: 3003006V8BHG5158QO96       | Long             | DBT              | CORP              | VG        |    200000 | PA      | $160772.00    | 0.22%             | 2030-08-05      | Fixed         | 1.62%                 | Yes           |                  2 | On Loan: No      |
| Jamaica                                                   | Jamaica Government Bond                                               | CUSIP: 470160CA8<br>LEI: 529900Y93KNSXZI8KK56 | Long             | DBT              | NUSS              | JM        |    216000 | PA      | $227515.50    | 0.31%             | 2028-04-28      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Republic of Peru                                          | Republic of Peru                                                      | CUSIP: 715638AU6<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     54000 | PA      | $57982.50     | 0.08%             | 2037-03-14      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| JPMorgan U.S. Government Money Market Fund                | JPMorgan U.S. Government Money Market Fund, Class IM                  | CUSIP: 4812C2270<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | STIV             | RF                | US        |    209313 | NS      | $209312.73    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| CBB International Sukuk Programme Co. WLL                 | CBB International Sukuk Programme Co. SPC                             | CUSIP: 12482TAA6<br>LEI: 5493006IRJ2IWXTNIM16 | Long             | DBT              | NUSS              | BH        |    389000 | PA      | $375579.50    | 0.51%             | 2027-03-30      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: —       |
| Republic of Azerbaijan                                    | Republic of Azerbaijan                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | AZ        |      1000 | PA      | $832.38       | 0.00%             | 2032-09-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Oman Government International Bond                        | Sultanate of Oman Government Bond                                     | CUSIP: N/A<br>LEI: 549300SZ20F0QTKNQC75       | Long             | DBT              | NUSS              | OM        |    245000 | PA      | $218662.50    | 0.30%             | 2047-03-08      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| United Mexican States                                     | United Mexican States                                                 | CUSIP: 91086QBF4<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    528000 | PA      | $432300.00    | 0.59%             | 2046-01-23      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| State Grid Overseas Investment BVI Ltd.                   | State Grid Overseas Investment BVI Ltd.                               | CUSIP: N/A<br>LEI: 3003006V8BHG5158QO96       | Long             | DBT              | CORP              | VG        |    200000 | PA      | $160772.00    | 0.22%             | 2030-08-05      | Fixed         | 1.62%                 | Yes           |                  2 | On Loan: No      |
| Republic of Senegal                                       | Republic of Senegal                                                   | CUSIP: N/A<br>LEI: 549300NP14ZLQGWIUZ97       | Long             | DBT              | NUSS              | SN        |    208000 | PA      | $173199.00    | 0.24%             | 2033-05-23      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Federative Republic of Brazil                             | Federative Republic of Brazil                                         | CUSIP: 105756BW9<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    265000 | PA      | $209350.00    | 0.28%             | 2045-01-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hazine Mustesarligi Varlik Kiralama A/S                   | Hazine Mustesarligi Varlik Kiralama A/S                               | CUSIP: N/A<br>LEI: 6354003QFJP7RDXEOZ20       | Long             | DBT              | NUSS              | TR        |    400000 | PA      | $363200.00    | 0.49%             | 2026-06-22      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Republic of Indonesia                                     | Republic of Indonesia                                                 | CUSIP: N/A<br>LEI: 529900FWX0GRR7WG5W79       | Long             | DBT              | NUSS              | ID        |    473000 | PA      | $454316.50    | 0.62%             | 2027-07-18      | Fixed         | 3.85%                 | Yes           |                  2 | On Loan: No      |
| Oman Government International Bond                        | Sultanate of Oman Government Bond                                     | CUSIP: N/A<br>LEI: 549300SZ20F0QTKNQC75       | Long             | DBT              | NUSS              | OM        |    220000 | PA      | $219175.00    | 0.30%             | 2031-01-25      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Romania                                                   | Romania Government Bond                                               | CUSIP: N/A<br>LEI: 315700IASY927EDWBK92       | Long             | DBT              | NUSS              | RO        |    286000 | PA      | $227870.50    | 0.31%             | 2031-02-14      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Bahrain                                        | Kingdom of Bahrain                                                    | CUSIP: N/A<br>LEI: 549300RODM1WN85LFQ95       | Long             | DBT              | NUSS              | BH        |    484000 | PA      | $424710.00    | 0.58%             | 2032-09-16      | Fixed         | 5.45%                 | Yes           |                  2 | On Loan: No      |
| Tunisian Republic                                         | Tunisian Republic                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | TN        |    200000 | PA      | $145475.00    | 0.20%             | 2025-01-30      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Bahrain                                        | Kingdom of Bahrain                                                    | CUSIP: N/A<br>LEI: 549300RODM1WN85LFQ95       | Long             | DBT              | NUSS              | BH        |    250000 | PA      | $249578.13    | 0.34%             | 2023-08-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Pertamina Persero PT                                      | Pertamina Persero PT                                                  | CUSIP: 69370RAK3<br>LEI: 254900NDAKGNZ2IBBL45 | Long             | DBT              | NUSS              | ID        |    238000 | PA      | $212143.68    | 0.29%             | 2026-02-09      | Fixed         | 1.40%                 | Yes           |                  2 | On Loan: No      |
| Republic of Turkey                                        | Republic of Turkey                                                    | CUSIP: 900123AL4<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    181000 | PA      | $211317.50    | 0.29%             | 2030-01-15      | Fixed         | 11.88%                | No            |                  2 | On Loan: No      |
| Romania                                                   | Romania Government Bond                                               | CUSIP: N/A<br>LEI: 315700IASY927EDWBK92       | Long             | DBT              | NUSS              | RO        |     56000 | PA      | $45213.00     | 0.06%             | 2032-03-27      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| United Mexican States                                     | United Mexican States                                                 | CUSIP: 91087BAS9<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    200000 | PA      | $155200.00    | 0.21%             | 2052-02-12      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Republic of Kenya                                         | Republic of Kenya                                                     | CUSIP: N/A<br>LEI: 549300VVURQQYU45PR87       | Long             | DBT              | NUSS              | KE        |    296000 | PA      | $261960.00    | 0.36%             | 2028-02-28      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| CBB International Sukuk Programme Co. WLL                 | CBB International Sukuk Programme Co. SPC                             | CUSIP: N/A<br>LEI: 5493006IRJ2IWXTNIM16       | Long             | DBT              | NUSS              | BH        |    207000 | PA      | $209070.00    | 0.28%             | 2024-11-14      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Republic of Colombia                                      | Republic of Colombia                                                  | CUSIP: 195325DP7<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   1122000 | PA      | $966322.50    | 1.31%             | 2029-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Qatar Energy                                              | Qatar Energy                                                          | CUSIP: N/A<br>LEI: 254900QTESJKJ3P87J26       | Long             | DBT              | NUSS              | QA        |    200000 | PA      | $145037.50    | 0.20%             | 2051-07-12      | Fixed         | 3.30%                 | Yes           |                  2 | On Loan: No      |
| Arab Republic of Egypt                                    | Arab Republic of Egypt                                                | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |    224000 | PA      | $204960.00    | 0.28%             | 2025-06-11      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic                                        | Dominican Republic Government Bond                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |    435000 | PA      | $321900.00    | 0.44%             | 2060-01-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Republic of Turkey                                        | Republic of Turkey                                                    | CUSIP: 900123AT7<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |     96000 | PA      | $94560.00     | 0.13%             | 2034-02-14      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Republic of the Philippines                               | Republic of Philippines                                               | CUSIP: 718286BG1<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    196000 | PA      | $213171.56    | 0.29%             | 2034-10-23      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Republic of Colombia                                      | Republic of Colombia                                                  | CUSIP: 195325EA9<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    550000 | PA      | $338800.00    | 0.46%             | 2042-02-22      | Fixed         | 4.12%                 | No            |                  2 | On Loan: —       |
| Southern Gas Corridor CJSC                                | Southern Gas Corridor CJSC                                            | CUSIP: N/A<br>LEI: 213800DG58KG59XY6318       | Long             | DBT              | NUSS              | AZ        |    200000 | PA      | $204425.00    | 0.28%             | 2026-03-24      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Republic of Panama                                        | Republic of Panama                                                    | CUSIP: 698299AW4<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    105000 | PA      | $111418.13    | 0.15%             | 2036-01-26      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Plurinational State of Bolivia                            | Plurinational State of Bolivia                                        | CUSIP: N/A<br>LEI: 529900TGIRPY3SZXEB56       | Long             | DBT              | NUSS              | BO        |    200000 | PA      | $155600.00    | 0.21%             | 2028-03-20      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Socialist Republic of Vietnam                             | Socialist Republic of Vietnam                                         | CUSIP: 92671CAA6<br>LEI: 5493008AE7RS4XK4BZ08 | Long             | DBT              | NUSS              | VN        |    200000 | PA      | $194662.50    | 0.26%             | 2024-11-19      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| Republic of Kenya                                         | Republic of Kenya                                                     | CUSIP: 491798AG9<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |    355000 | PA      | $314175.00    | 0.43%             | 2028-02-28      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Republic of the Philippines                               | Republic of Philippines                                               | CUSIP: 718286AY3<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    160000 | PA      | $199217.60    | 0.27%             | 2030-02-02      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Petronas Capital Ltd.                                     | Petronas Capital Ltd.                                                 | CUSIP: N/A<br>LEI: 549300G7YFX3540OYR85       | Long             | DBT              | CORP              | MY        |    320000 | PA      | $287667.20    | 0.39%             | 2050-04-21      | Fixed         | 4.55%                 | Yes           |                  2 | On Loan: No      |
| Republic of the Philippines                               | Republic of Philippines                                               | CUSIP: 718286BB2<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    150000 | PA      | $175141.50    | 0.24%             | 2031-01-14      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                  | Republic of South Africa                                              | CUSIP: 836205AW4<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    208000 | PA      | $198029.00    | 0.27%             | 2027-09-27      | Fixed         | 4.85%                 | No            |                  2 | On Loan: —       |
| Dominican Republic                                        | Dominican Republic Government Bond                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |    104000 | PA      | $90467.00     | 0.12%             | 2045-01-27      | Fixed         | 6.85%                 | Yes           |                  2 | On Loan: No      |
| Oman Government International Bond                        | Sultanate of Oman Government Bond                                     | CUSIP: N/A<br>LEI: 549300SZ20F0QTKNQC75       | Long             | DBT              | NUSS              | OM        |    584000 | PA      | $568670.00    | 0.77%             | 2027-03-08      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Mexico City Airport Trust                                 | Mexico City Airport Trust                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | MX        |    209000 | PA      | $153615.00    | 0.21%             | 2047-07-31      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Republic of Azerbaijan                                    | Republic of Azerbaijan                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | AZ        |    571000 | PA      | $475286.13    | 0.65%             | 2032-09-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Republic of Turkey                                        | Republic of Turkey                                                    | CUSIP: 900123AY6<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    104000 | PA      | $86840.00     | 0.12%             | 2036-03-17      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Kingdom of Saudi Arabia                                   | Kingdom of Saudi Arabia                                               | CUSIP: N/A<br>LEI: 635400FMICXSM3SI3H65       | Long             | DBT              | NUSS              | SA        |     28000 | PA      | $27846.00     | 0.04%             | 2023-03-04      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Saudi Arabia                                   | Kingdom of Saudi Arabia                                               | CUSIP: N/A<br>LEI: 635400FMICXSM3SI3H65       | Long             | DBT              | NUSS              | SA        |    200000 | PA      | $161250.00    | 0.22%             | 2033-02-02      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| Oman Government International Bond                        | Sultanate of Oman Government Bond                                     | CUSIP: 682051AF4<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |    229000 | PA      | $204382.50    | 0.28%             | 2047-03-08      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| People's Republic of China                                | People's Republic of China                                            | CUSIP: N/A<br>LEI: 300300CHN201808MOF68       | Long             | DBT              | NUSS              | CN        |    200000 | PA      | $190504.00    | 0.26%             | 2024-12-03      | Fixed         | 1.95%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                       | Petroleos Mexicanos                                                   | CUSIP: 71654QAZ5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |     24000 | PA      | $15360.00     | 0.02%             | 2041-06-02      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| Republic of Turkey                                        | Republic of Turkey                                                    | CUSIP: 900123CJ7<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    312000 | PA      | $276120.00    | 0.38%             | 2026-04-14      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Oriental Republic of Uruguay                              | Oriental Republic of Uruguay                                          | CUSIP: 760942BB7<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    240000 | PA      | $242880.00    | 0.33%             | 2027-10-27      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                        | Dominican Republic Government Bond                                    | CUSIP: 25714PCW6<br>LEI: N/A                  | Long             | DBT              | NUSS              | DO        |    357000 | PA      | $310545.38    | 0.42%             | 2045-01-27      | Fixed         | 6.85%                 | Yes           |                  2 | On Loan: —       |
| Federative Republic of Brazil                             | Federative Republic of Brazil                                         | CUSIP: 105756CA6<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    310000 | PA      | $288300.00    | 0.39%             | 2029-05-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Hungary                                                   | Hungary Government Bond                                               | CUSIP: 445545AF3<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    260000 | PA      | $282311.25    | 0.38%             | 2041-03-29      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Republic of Turkey                                        | Republic of Turkey                                                    | CUSIP: 900123CM0<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    353000 | PA      | $240040.00    | 0.33%             | 2047-05-11      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Republic of Peru                                          | Republic of Peru                                                      | CUSIP: 715638AS1<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    321000 | PA      | $339056.25    | 0.46%             | 2025-07-21      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| Romania                                                   | Romania Government Bond                                               | CUSIP: N/A<br>LEI: 315700IASY927EDWBK92       | Long             | DBT              | NUSS              | RO        |     68000 | PA      | $61064.00     | 0.08%             | 2027-02-27      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Eskom Holdings SOC Ltd.                                   | Eskom Holdings SOC Ltd.                                               | CUSIP: 29646AAB2<br>LEI: 3789001900ED06F65111 | Long             | DBT              | NUSS              | ZA        |    327000 | PA      | $305949.38    | 0.42%             | 2025-02-11      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Hazine Mustesarligi Varlik Kiralama A/S                   | Hazine Mustesarligi Varlik Kiralama A/S                               | CUSIP: 421790AC0<br>LEI: 6354003QFJP7RDXEOZ20 | Long             | DBT              | NUSS              | TR        |      1000 | PA      | $946.44       | 0.00%             | 2024-11-25      | Fixed         | 4.49%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic                                        | Dominican Republic Government Bond                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | DO        |    274000 | PA      | $226872.00    | 0.31%             | 2032-09-23      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Abu Dhabi Crude Oil Pipeline LLC                          | Abu Dhabi Crude Oil Pipeline LLC                                      | CUSIP: N/A<br>LEI: 549300DONDFW2383FV66       | Long             | DBT              | CORP              | AE        |    222000 | PA      | $198107.25    | 0.27%             | 2047-11-02      | Fixed         | 4.60%                 | Yes           |                  2 | On Loan: No      |
| Oriental Republic of Uruguay                              | Oriental Republic of Uruguay                                          | CUSIP: 760942BA9<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    101000 | PA      | $100495.00    | 0.14%             | 2050-06-18      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Hungary                                                   | Hungary Government Bond                                               | CUSIP: 445545AL0<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    218000 | PA      | $217632.13    | 0.30%             | 2024-03-25      | Fixed         | 5.38%                 | No            |                  2 | On Loan: —       |
| Republic of South Africa                                  | Republic of South Africa                                              | CUSIP: 836205AU8<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    393000 | PA      | $355247.44    | 0.48%             | 2028-10-12      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Republic of Panama                                        | Republic of Panama                                                    | CUSIP: 698299BN3<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    279000 | PA      | $210348.56    | 0.29%             | 2032-09-29      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-30

**Name of Applicant:** J.P. Morgan Exchange-Traded Fund Trust

**Signature:** Timothy J. Clemens

**Name of Signer:** Timothy J. Clemens

**Title:** Treasurer and Principal Financial Officer