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Annual Report
August 31, 2023
Avantis® Responsible Emerging Markets Equity ETF (AVSE)
Avantis® Responsible International Equity ETF (AVSD)






























Table of Contents

Chairman’s Letter
Avantis Responsible Emerging Markets Equity ETF
Performance
Portfolio Commentary
Fund Characteristics
Avantis Responsible International Equity ETF
Performance
Portfolio Commentary
Fund Characteristics
Shareholder Fee Examples
Schedules of Investments
Statements of Assets and Liabilities
Statements of Operations
Statements of Changes in Net Assets
Notes to Financial Statements
Financial Highlights
Report of Independent Registered Public Accounting Firm
Management
Approval of Management Agreement
Liquidity Risk Management Program
Additional Information

















Any opinions expressed in this report reflect those of the author as of the date of the report, and do not necessarily represent the opinions of American Century Investments® or any other person in the American Century Investments organization. Any such opinions are subject to change at any time based upon market or other conditions and American Century Investments disclaims any responsibility to update such opinions. These opinions may not be relied upon as investment advice and, because investment decisions made by American Century Investments funds are based on numerous factors, may not be relied upon as an indication of trading intent on behalf of any American Century Investments fund. Security examples are used for representational purposes only and are not intended as recommendations to purchase or sell securities. Performance information for comparative indices and securities is provided to American Century Investments by third party vendors. To the best of American Century Investments’ knowledge, such information is accurate at the time of printing.



Chairman's Letter

image24.jpg Jonathan Thomas

Dear Investor:

Thank you for reviewing this annual report for the period ended August 31, 2023. Annual reports help convey important information about fund returns, including market factors that affected performance. For additional investment insights, please visit avantisinvestors.com.

Stocks Rebounded, Bonds Struggled

Asset class returns, particularly for U.S. and global stocks, improved dramatically compared with the previous fiscal year. The bounce back occurred despite ongoing volatility, rising interest rates and Fitch Ratings’ first-ever downgrade of U.S. debt.

Investor expectations for the Federal Reserve (Fed) to conclude its rate-hike campaign partly fueled the optimism. Inflation’s steady slowdown, mounting recession worries and a series of U.S. regional bank failures prompted investors to regularly recalibrate their monetary policy outlooks. However, with inflation still higher than central bank targets, the Fed and its developed markets peers continued to raise interest rates.

After pausing in June, the Fed resumed its tightening campaign in July, raising rates to a range of 5.25% to 5.5%, a 22-year high. Citing still-higher-than-target inflation and still-strong economic data, policymakers left their future policy options open. Inflation remained even higher in the eurozone and the U.K., prompting central bankers there to steadily raise interest rates. Government bond yields soared, including the benchmark 10-year Treasury yield, which surged to a 16-year high late in the period.

Despite the inflation and rate backdrops, better-than-expected corporate earnings helped the S&P 500 Index return 15.94% for the 12-month period. Non-U.S. developed markets stocks delivered modestly higher returns, while emerging markets stocks gained only 1.25%. Meanwhile, amid elevated inflation and sharply higher Treasury yields, most U.S. bond and other rate-sensitive sectors declined, though not as much as in the prior fiscal year. Exceptions included corporate and municipal bonds, which delivered modest gains.

Remaining Diligent in Uncertain Times

We expect market volatility to linger as investors navigate a complex environment of persistent inflation, tighter financial conditions, banking industry turbulence and recession risk. In addition, increasingly tense geopolitical considerations complicate the market backdrop.

We appreciate your confidence in us during these extraordinary times. American Century Investments has a long history of helping clients weather unpredictable and volatile markets, and we’re confident we will continue to meet today’s challenges.

Sincerely,
image45.jpg
Jonathan Thomas
Chairman
Avantis Investors
2


Performance
Avantis Responsible Emerging Markets Equity ETF (AVSE)
Total Returns as of August 31, 2023 Average Annual Returns  
  1 year Since Inception Inception Date
Net Asset Value 7.75% -3.69% 3/28/2022
Market Price 7.92% -3.54% 3/28/2022
MSCI Emerging Markets IMI Index 2.79% -5.30%
Market price is determined using the bid/ask midpoint at 4:00 p.m. Eastern time, when the net asset value (NAV) is typically calculated. Market performance does not represent the returns you would receive if you traded shares at other times. NAV prices are used to calculate market price performance prior to the date when the fund first traded on the NYSE Arca, Inc.


Growth of $10,000 Over Life of Fund
$10,000 investment made March 28, 2022

chart-5ecea50c07d64dc2b41.jpg

Value on August 31, 2023
Net Asset Value — $9,478
MSCI Emerging Markets IMI Index — $9,253

Total Annual Fund Operating Expenses
0.33%
The total annual fund operating expenses shown is as stated in the fund’s prospectus current as of the date of this report. The prospectus may vary from the expense ratio shown elsewhere in this report because it is based on a different time period, includes acquired fund fees and expenses, and, if applicable, does not include fee waivers or expense reimbursements.






Data presented reflect past performance. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance shown. Total returns for periods less than one year are not annualized. Investment return and principal value will fluctuate, and redemption value may be more or less than original cost. Data assumes reinvestment of dividends and capital gains, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. To obtain performance data current to the most recent month end, please call 1-833-928-2684 or visit avantisinvestors.com. For additional information about the funds, please consult the prospectus.
3


Portfolio Commentary

Portfolio Managers: Eduardo Repetto, Mitch Firestein, Daniel Ong, Ted Randall and Matthew Dubin

Fund Strategy

Avantis Responsible Emerging Markets Equity ETF seeks long-term capital appreciation by investing in a diverse group of companies related to emerging markets across market sectors, industry groups, countries and market capitalizations.

The fund limits its investable universe of companies by screening out companies that do not meet certain environmental, social and governance (ESG) metrics. The fund uses third-party commercial data sources and scoring systems and proprietary evaluations to decide which securities to exclude due to ESG concerns. Within the investable universe, the fund seeks securities of companies that it expects to have higher returns. It places an enhanced emphasis on securities of companies with smaller market capitalizations and securities of companies it defines as high profitability or value companies. Conversely, the fund seeks to underweight or exclude securities it expects to have lower returns. These include securities of large companies with lower levels of profitability and higher prices relative to their book values or other financial metrics. Under normal market conditions, the fund will invest at least 80% of its assets in equity securities of companies related to emerging markets countries.

The fund is an actively managed exchange-traded fund (ETF) that does not seek to replicate the performance of a specified index. The portfolio managers continually analyze market and financial data to make buy, sell and hold decisions. When buying or selling a security, the portfolio managers may consider the trade-off between expected returns of the security and implementation or tax costs of the trade. They do this in an attempt to gain trading efficiencies, avoid unnecessary risk and enhance fund performance.

Performance Review

For the 12-month period ended August 31, 2023, Avantis Responsible Emerging Markets Equity ETF returned 7.92% on a market price basis. On a net asset value (NAV) basis, the fund returned 7.75%. NAV and market price returns reflect fees and operating expenses, while index returns do not.

The fund outperformed the broad emerging markets stock universe, as measured by the MSCI Emerging Markets Investable Market Index (IMI), which returned 2.79% for the reporting period. The MSCI Emerging Markets IMI is an unmanaged index generally representative of the performance of emerging markets stocks across capitalization categories.

The outperformance was largely due to the fund’s overweight versus the index to companies with high profitability and book-to-market characteristics. These companies outperformed those with low profitability and book-to-market traits. The fund’s underweight to companies with low profitability and book-to-market characteristics also aided relative results.






Because the portfolio managers screen securities based on ESG characteristics, the fund may exclude the securities of certain issuers or industry sectors for other than financial reasons and, as a result, the fund may perform differently or maintain a different risk profile than the market generally or compared to funds that do not use similar ESG-based screens. Investing based on ESG considerations may also prioritize long-term rather than short-term returns. Furthermore, when analyzing ESG criteria for issuers, the portfolio management team relies on proprietary evaluations and information, ratings and scoring models published by third-party sources (collectively, “ESG Data”). Due to the lack of regulation and uniform reporting standards with respect to ESG characteristics of issuers, ESG Data may be inconsistent across sources and, in certain cases, incorrect. In addition, ESG Data is not currently available for many issuers and, when available, frequently only includes some but not all of the ESG characteristics considered by the team when applying their ESG screens.
4


Fund Characteristics
AUGUST 31, 2023
Avantis Responsible Emerging Markets Equity ETF
Types of Investments in Portfolio % of net assets
Common Stocks 100.2%
Rights —*
Warrants —*
Short-Term Investments 0.6%
Other Assets and Liabilities (0.8)%
*Category is less than 0.05% of total net assets.
Top Five Countries % of net assets
China 25.6%
India 18.5%
Taiwan 17.9%
South Korea 13.9%
Brazil 5.9%

5


Performance
Avantis Responsible International Equity ETF (AVSD)
Total Returns as of August 31, 2023 Average Annual Returns  
  1 year Since Inception Inception Date
Net Asset Value 15.83% 2.37% 3/15/2022
Market Price 15.99% 2.56% 3/15/2022
MSCI World ex USA IMI Index 15.31% 3.10%
Market price is determined using the bid/ask midpoint at 4:00 p.m. Eastern time, when the net asset value (NAV) is typically calculated. Market performance does not represent the returns you would receive if you traded shares at other times. NAV prices are used to calculate market price performance prior to the date when the fund first traded on the NYSE Arca, Inc.


Growth of $10,000 Over Life of Fund
$10,000 investment made March 15, 2022

chart-44a77fc5ccaa4d87a91.jpg

Value on August 31, 2023
Net Asset Value — $10,348
MSCI World ex USA IMI Index — $10,457
Total Annual Fund Operating Expenses
0.23%
The total annual fund operating expenses shown is as stated in the fund’s prospectus current as of the date of this report. The prospectus may vary from the expense ratio shown elsewhere in this report because it is based on a different time period, includes acquired fund fees and expenses, and, if applicable, does not include fee waivers or expense reimbursements.







Data presented reflect past performance. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance shown. Total returns for periods less than one year are not annualized. Investment return and principal value will fluctuate, and redemption value may be more or less than original cost. Data assumes reinvestment of dividends and capital gains, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. To obtain performance data current to the most recent month end, please call 1-833-928-2684 or visit avantisinvestors.com. For additional information about the funds, please consult the prospectus.
6


Portfolio Commentary

Portfolio Managers: Eduardo Repetto, Mitch Firestein, Daniel Ong, Ted Randall and Matthew Dubin

Fund Strategy

Avantis Responsible International Equity ETF seeks long-term capital appreciation by investing in a diverse group of non-U.S. companies across countries, market sectors, industry groups and market capitalizations.

The fund limits its investable universe of companies by screening out companies that do not meet certain environmental, social and governance (ESG) metrics. The fund uses third-party commercial data sources and scoring systems and proprietary evaluations to decide which securities to exclude due to ESG concerns. Within the investable universe, the fund seeks securities of companies that it expects to have higher returns. It places an emphasis on the securities of companies with smaller market capitalizations and securities of companies it defines as high profitability or value companies. Conversely, the fund seeks to underweight or exclude securities it expects to have lower returns. These include securities of large companies with lower levels of profitability and higher prices relative to their book values or other financial metrics. Under normal market conditions, the fund will invest at least 80% of its assets in equity securities.

The fund is an actively managed exchange-traded fund (ETF) that does not seek to replicate the performance of a specified index. The portfolio managers continually analyze market and financial data to make buy, sell and hold decisions. When buying or selling a security, the portfolio managers may consider the trade-off between expected returns of the security and implementation or tax costs of the trade. They do this in an attempt to gain trading efficiencies, avoid unnecessary risk and enhance fund performance.

Performance Review

For the 12-month period ended August 31, 2023, Avantis Responsible International Equity ETF returned 15.99% on a market price basis. On a net asset value (NAV) basis, the fund returned 15.83%. NAV and market price returns reflect fees and operating expenses, while index returns do not.

The fund outperformed the total non-U.S. developed markets stock universe, as measured by the MSCI World ex USA Investable Market Index (IMI), which returned 15.31% for the reporting period. The MSCI World ex USA IMI is an unmanaged index generally representative of the performance of non-U.S. developed markets stocks across capitalization categories.

The outperformance was largely due to the fund’s underweight position versus the index in companies with the lowest profitability and book-to-market characteristics, which underperformed. The fund’s exclusion of real estate investment trusts (REITs) also aided results, as REITs underperformed for the 12-month period.







Because the portfolio managers screen securities based on ESG characteristics, the fund may exclude the securities of certain issuers or industry sectors for other than financial reasons and, as a result, the fund may perform differently or maintain a different risk profile than the market generally or compared to funds that do not use similar ESG-based screens. Investing based on ESG considerations may also prioritize long-term rather than short-term returns. Furthermore, when analyzing ESG criteria for issuers, the portfolio management team relies on proprietary evaluations and information, ratings and scoring models published by third-party sources (collectively, “ESG Data”). Due to the lack of regulation and uniform reporting standards with respect to ESG characteristics of issuers, ESG Data may be inconsistent across sources and, in certain cases, incorrect. In addition, ESG Data is not currently available for many issuers and, when available, frequently only includes some but not all of the ESG characteristics considered by the team when applying their ESG screens.
7


Fund Characteristics
AUGUST 31, 2023
Avantis Responsible International Equity ETF
Types of Investments in Portfolio % of net assets
Common Stocks 99.7%
Rights —*
Warrants —*
Short-Term Investments 2.4%
Other Assets and Liabilities (2.1)%
*Category is less than 0.05% of total net assets.
Top Five Countries % of net assets
Japan 21.1%
United Kingdom 13.3%
Canada 10.2%
France 9.8%
Switzerland 8.4%
8


Shareholder Fee Examples

Fund shareholders may incur two types of costs: (1) transaction costs, including brokerage commissions paid on purchases and sales of fund shares; and (2) ongoing costs, including management fees and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in your fund and to compare these costs with the ongoing cost of investing in other funds.

The example is based on an investment of $1,000 made at the beginning of the period and held for the entire period from March 1, 2023 to August 31, 2023.

Actual Expenses

The table provides information about actual account values and actual expenses for each fund. You may use the information, together with the amount you invested, to estimate the expenses that you paid over the period. First, identify the fund you own. Then simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number under the heading “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The table also provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio of your fund and an assumed rate of return of 5% per year before expenses, which is not the actual return of a fund. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in your fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions paid on purchases and sales of fund shares. Therefore, the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
Beginning
Account Value
3/1/23
Ending
Account Value
8/31/23
Expenses Paid
During Period(1)
3/1/23 - 8/31/23
Annualized
Expense Ratio(1)
Avantis Responsible Emerging Markets Equity ETF
Actual $1,000 $1,062.30 $1.72 0.33%
Hypothetical $1,000 $1,023.54 $1.68 0.33%
Avantis Responsible International Equity ETF
Actual $1,000 $1,035.90 $1.18 0.23%
Hypothetical $1,000 $1,024.05 $1.17 0.23%
(1)Expenses are equal to the fund's annualized expense ratio listed in the table above, multiplied by the average account value over the period, multiplied by 184, the number of days in the most recent fiscal half-year, divided by 365, to reflect the one-half year period. Annualized expense ratio reflects actual expenses, including any applicable fee waivers or expense reimbursements and excluding any acquired fund fees and expenses.
9


Schedules of Investments

AUGUST 31, 2023
Avantis Responsible Emerging Markets Equity ETF
Shares Value
COMMON STOCKS — 100.2%
Brazil — 5.9%
Aeris Industria E Comercio De Equipamentos Para Geracao De Energia SA(1)
1,900  $ 376 
AES Brasil Energia SA(1)
5,900  13,177 
Aliansce Sonae Shopping Centers SA
13,304  61,200 
Alpargatas SA, Preference Shares(1)
1,200  2,055 
Ambev SA, ADR
23,942  66,319 
Americanas SA(1)
9,200  1,635 
Anima Holding SA(1)
500  369 
Armac Locacao Logistica E Servicos SA
100  258 
Atacadao SA
5,800  12,099 
Auren Energia SA
3,400  9,475 
B3 SA - Brasil Bolsa Balcao
18,700  48,902 
Banco ABC Brasil SA(1)
259  959 
Banco ABC Brasil SA, Preference Shares
4,800  17,777 
Banco BMG SA, Preference Shares
11,600  5,692 
Banco Bradesco SA
8,170  21,926 
Banco Bradesco SA, ADR
35,378  105,780 
Banco BTG Pactual SA
11,200  73,437 
Banco do Brasil SA
15,100  144,565 
Banco do Estado do Rio Grande do Sul SA, Class B Preference Shares
9,600  23,670 
Banco Pan SA, Preference Shares
6,100  10,865 
Banco Santander Brasil SA, ADR
3,160  17,222 
BB Seguridade Participacoes SA
5,900  36,303 
Bemobi Mobile Tech SA
2,600  6,148 
Blau Farmaceutica SA
500  1,799 
BRF SA, ADR(1)(2)
9,065  16,589 
C&A MODAS SA(1)
1,800  1,952 
CCR SA
17,900  45,364 
Centrais Eletricas Brasileiras SA, ADR
5,437  38,657 
Centrais Eletricas Brasileiras SA, Class B Preference Shares
1,000  7,880 
Cia Brasileira de Aluminio
4,600  3,976 
Cia Brasileira de Distribuicao, ADR(1)(2)
4,389  4,323 
Cia de Saneamento Basico do Estado de Sao Paulo SABESP, ADR
5,443  63,139 
Cia de Saneamento de Minas Gerais Copasa MG
7,200  25,880 
Cia de Saneamento do Parana
4,300  19,485 
Cia de Saneamento do Parana, Preference Shares
44,300  40,524 
Cia Energetica de Minas Gerais, ADR
9,216  22,487 
Cia Ferro Ligas da Bahia - FERBASA, Preference Shares
1,000  9,277 
Cia Paranaense de Energia
3,600  5,881 
Cia Paranaense de Energia, ADR(2)
5,629  48,128 
Cia Paranaense de Energia, Preference Shares
33,700  59,206 
Cielo SA
23,000  17,371 
Clear Sale SA(1)
1,100  1,046 
Construtora Tenda SA(1)
5,200  13,556 
10


Avantis Responsible Emerging Markets Equity ETF
Shares Value
CPFL Energia SA
2,000  $ 13,849 
Cruzeiro do Sul Educacional SA
200  169 
CTEEP-Cia de Transmissao de Energia Eletrica Paulista, Preference Shares
2,400  12,058 
Cury Construtora e Incorporadora SA
3,100  10,160 
Cyrela Brazil Realty SA Empreendimentos e Participacoes
8,700  39,424 
Desktop - Sigmanet Comunicacao Multimidia SA
100  300 
Dexco SA
6,490  10,498 
Dexxos Participacoes SA
100  224 
Dimed SA Distribuidora da Medicamentos
800  1,977 
Direcional Engenharia SA
1,300  5,237 
EcoRodovias Infraestrutura e Logistica SA
14,200  21,420 
Embraer SA, ADR(1)
7,891  123,415 
Empreendimentos Pague Menos SA
3,200  2,488 
Energisa SA
6,100  57,095 
Equatorial Energia SA
14,914  94,205 
Eternit SA
2,500  4,538 
Even Construtora e Incorporadora SA
3,600  4,682 
Fertilizantes Heringer SA(1)
100  192 
Fleury SA
1,908  5,668 
Fras-Le SA
1,400  3,947 
Gafisa SA(1)
88  91 
Gerdau SA, ADR
14,729  76,738 
GPS Participacoes e Empreendimentos SA
2,400  8,893 
Grendene SA
6,300  8,549 
Grupo De Moda Soma SA
2,700  4,089 
Grupo Mateus SA(1)
5,600  7,656 
Grupo SBF SA
4,000  5,816 
Guararapes Confeccoes SA
2,400  3,044 
Hapvida Participacoes e Investimentos SA(1)
13,500  11,668 
Helbor Empreendimentos SA
200  122 
Hidrovias do Brasil SA(1)
19,300  14,810 
Hospital Mater Dei SA
100  191 
Hypera SA
2,200  17,228 
Iguatemi SA
9,300  38,762 
Infracommerce CXAAS SA(1)
1,200  458 
Intelbras SA Industria de Telecomunicacao Eletronica Brasileira
500  2,228 
International Meal Co. Alimentacao SA, Class A(1)
2,700  1,172 
Iochpe Maxion SA
8,100  23,243 
Irani Papel e Embalagem SA
1,800  3,984 
IRB-Brasil Resseguros SA(1)
3,836  33,324 
Itau Unibanco Holding SA, ADR
46,440  255,420 
Jalles Machado SA
2,500  4,215 
JHSF Participacoes SA
8,300  8,012 
Kepler Weber SA
5,200  11,698 
Klabin SA
22,200  102,123 
Lavvi Empreendimentos Imobiliarios SA
3,700  6,134 
Light SA(1)
10,400  12,727 
Localiza Rent a Car SA
8,702  111,269 
Locaweb Servicos de Internet SA
2,900  4,158 
LOG Commercial Properties e Participacoes SA
1,100  4,132 
11


Avantis Responsible Emerging Markets Equity ETF
Shares Value
Log-in Logistica Intermodal SA(1)
1,000  $ 8,302 
Lojas Quero Quero SA(1)
1,900  1,880 
Lojas Renner SA
6,700  21,783 
LPS Brasil Consultoria de Imoveis SA
1,700  920 
M Dias Branco SA
700  5,258 
Magazine Luiza SA(1)
19,600  10,964 
Mahle-Metal Leve SA
600  5,770 
Marcopolo SA
3,300  3,265 
Marcopolo SA, Preference Shares
12,300  15,002 
Marisa Lojas SA(1)
5,300  717 
Meliuz SA(1)
730  1,002 
Mills Estruturas e Servicos de Engenharia SA
5,600  13,785 
Mitre Realty Empreendimentos E Participacoes LTDA
200  214 
Movida Participacoes SA
8,700  22,119 
MPM Corporeos SA(1)
300  102 
MRV Engenharia e Participacoes SA
8,100  18,581 
Multilaser Industrial SA(1)
4,500  2,872 
Multiplan Empreendimentos Imobiliarios SA
2,700  13,364 
Natura & Co. Holding SA(1)
5,800  17,850 
Oceanpact Servicos Maritimos SA(1)
200  207 
Odontoprev SA
3,120  6,489 
Omega Energia SA(1)
4,000  8,102 
Oncoclinicas do Brasil Servicos Medicos SA(1)
100  236 
Orizon Valorizacao de Residuos SA(1)
100  706 
Pet Center Comercio e Participacoes SA
7,000  7,775 
Plano & Plano Desenvolvimento Imobiliario SA
1,500  3,108 
Portobello SA
2,400  3,170 
Positivo Tecnologia SA
2,300  3,767 
Qualicorp Consultoria e Corretora de Seguros SA
900  643 
Raia Drogasil SA
8,528  47,892 
Randon SA Implementos e Participacoes, Preference Shares
10,800  26,040 
Rede D'Or Sao Luiz SA
4,455  25,729 
Romi SA
1,221  3,151 
Rumo SA
10,000  45,012 
Santos Brasil Participacoes SA
9,200  15,903 
Sao Martinho SA
4,400  31,987 
Sendas Distribuidora SA, ADR(2)
4,660  54,569 
Ser Educacional SA(1)
1,100  1,377 
SIMPAR SA
4,300  8,596 
Sinqia SA
600  3,314 
StoneCo Ltd., A Shares(1)
9,521  116,727 
Suzano SA, ADR
9,330  94,420 
SYN prop e tech SA(1)
500  413 
Tegma Gestao Logistica SA
600  3,098 
Telefonica Brasil SA, ADR(2)
2,273  19,184 
TIM SA, ADR(2)
5,828  85,438 
TOTVS SA
2,100  11,696 
Transmissora Alianca de Energia Eletrica SA
1,000  6,922 
Tres Tentos Agroindustrial SA
2,500  6,866 
Trisul SA
3,200  3,470 
Tupy SA
1,100  5,758 
12


Avantis Responsible Emerging Markets Equity ETF
Shares Value
Unifique Telecomunicacoes SA
200  $ 154 
Unipar Carbocloro SA, Class B Preference Shares
1,710  26,620 
Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao SA
300  1,018 
Vamos Locacao de Caminhoes Maquinas e Equipamentos SA
6,000  14,261 
Via SA(1)
64,900  16,775 
Vivara Participacoes SA
900  4,903 
Vulcabras Azaleia SA
1,700  6,797 
WEG SA
8,800  63,600 
Wilson Sons Holdings Brasil SA
7,800  19,799 
Wiz Co.
900  1,074 
XP, Inc., Class A(1)
4,568  115,753 
YDUQS Participacoes SA
800  3,288 
Zamp SA(1)
5,219  5,691 
3,415,477 
Chile — 0.7%
Aguas Andinas SA, A Shares
34,996  11,842 
Banco de Chile
341,261  37,226 
Banco de Credito e Inversiones SA
890  25,785 
Banco Santander Chile, ADR(2)
2,101  40,192 
CAP SA
2,647  18,613 
Cencosud SA
4,978  10,627 
Cencosud Shopping SA
5,065  8,537 
Cia Cervecerias Unidas SA, ADR
100  1,473 
Embotelladora Andina SA, Class B Preference Shares
11,635  29,329 
Empresa Nacional de Telecomunicaciones SA
7,815  28,985 
Empresas CMPC SA
22,959  41,687 
Enel Americas SA(1)
187,667  22,364 
Falabella SA
2,129  5,244 
Parque Arauco SA
20,306  30,060 
Ripley Corp. SA
17,466  3,841 
SMU SA
53,367  9,918 
Sociedad Quimica y Minera de Chile SA, ADR
715  44,752 
Vina Concha y Toro SA
3,852  4,829 
375,304 
China — 25.6%
361 Degrees International Ltd.
38,000  19,995 
3SBio, Inc.
48,000  40,141 
AAC Technologies Holdings, Inc.
34,000  65,860 
Agile Group Holdings Ltd.(1)
32,000  3,626 
Agora, Inc., ADR(1)
720  2,016 
Agricultural Bank of China Ltd., H Shares
314,000  107,625 
AK Medical Holdings Ltd.
2,000  1,607 
Alibaba Group Holding Ltd., ADR(1)
13,238  1,229,810 
Alibaba Health Information Technology Ltd.(1)
20,000  11,808 
Alibaba Pictures Group Ltd.(1)(2)
80,000  5,300 
A-Living Smart City Services Co. Ltd.(1)
21,500  13,721 
Alliance International Education Leasing Holdings Ltd.(1)
24,000  3,974 
ANE Cayman, Inc.(1)
7,500  5,308 
Anhui Expressway Co. Ltd., H Shares
6,000  5,879 
ANTA Sports Products Ltd.
11,800  133,024 
13


Avantis Responsible Emerging Markets Equity ETF
Shares Value
Ascletis Pharma, Inc.(1)
1,000  $ 280 
AsiaInfo Technologies Ltd.(2)
5,600  6,829 
Autohome, Inc., ADR
1,792  51,789 
Baidu, Inc., ADR(1)
483  68,987 
Bairong, Inc.(1)
4,500  5,511 
Bank of China Ltd., H Shares
826,000  279,945 
Bank of Chongqing Co. Ltd., H Shares
1,000  512 
Bank of Communications Co. Ltd., H Shares
136,000  77,840 
BeiGene Ltd.(1)
2,500  40,105 
BeiGene Ltd., ADR(1)
145  30,095 
Beijing Capital International Airport Co. Ltd., H Shares(1)
20,000  10,472 
Beijing Chunlizhengda Medical Instruments Co. Ltd., H Shares
250  424 
Beijing Enterprises Water Group Ltd.
14,000  3,225 
Beijing Tong Ren Tang Chinese Medicine Co. Ltd.
8,000  14,500 
Bilibili, Inc., ADR(1)
39  590 
BOC Aviation Ltd.
5,400  40,502 
BOE Varitronix Ltd.
10,000  9,700 
Bosideng International Holdings Ltd.
150,000  58,862 
Burning Rock Biotech Ltd., ADR(1)
492  667 
BYD Co. Ltd., H Shares
8,500  266,991 
BYD Electronic International Co. Ltd.
22,000  101,893 
C&D International Investment Group Ltd.
2,303  5,853 
C&D Property Management Group Co. Ltd.
12,000  5,544 
Cango, Inc., ADR
583  717 
CARsgen Therapeutics Holdings Ltd.(1)
4,000  4,697 
Cathay Media & Education Group, Inc.
1,000  119 
Central China New Life Ltd.(1)
13,000  3,449 
Central China Real Estate Ltd.(1)
1,000  14 
CGN Mining Co. Ltd.(1)(2)
75,000  8,790 
Cheerwin Group Ltd.
500  103 
China Automotive Systems, Inc.(1)
856  3,587 
China Bohai Bank Co. Ltd., H Shares(1)
8,500  1,310 
China Cinda Asset Management Co. Ltd., H Shares
420,000  41,187 
China CITIC Bank Corp. Ltd., H Shares
156,000  69,431 
China Communications Services Corp. Ltd., H Shares
132,000  59,428 
China Conch Environment Protection Holdings Ltd.(1)
4,500  1,137 
China Conch Venture Holdings Ltd.
50,500  49,618 
China Construction Bank Corp., H Shares
1,091,000  583,740 
China Datang Corp. Renewable Power Co. Ltd., H Shares
181,000  45,013 
China Dongxiang Group Co. Ltd.
16,000  550 
China East Education Holdings Ltd.
28,500  12,218 
China Education Group Holdings Ltd.
34,000  28,892 
China Everbright Bank Co. Ltd., H Shares
52,000  14,977 
China Everbright Ltd.
24,000  14,000 
China Feihe Ltd.
103,000  61,926 
China Foods Ltd.
2,000  741 
China Galaxy Securities Co. Ltd., H Shares
70,500  37,926 
China General Education Group Ltd.(1)
1,000  198 
China Glass Holdings Ltd.
2,000  178 
China High Speed Transmission Equipment Group Co. Ltd.(1)
10,000  3,248 
China International Capital Corp. Ltd., H Shares
12,800  24,584 
14


Avantis Responsible Emerging Markets Equity ETF
Shares Value
China Kepei Education Group Ltd.
18,000  $ 4,862 
China Lesso Group Holdings Ltd.
33,000  18,149 
China Life Insurance Co. Ltd., Class H
29,555  44,795 
China Literature Ltd.(1)
3,600  14,457 
China Medical System Holdings Ltd.
68,000  97,938 
China Merchants Bank Co. Ltd., H Shares
38,500  152,453 
China Merchants Port Holdings Co. Ltd.
40,000  47,852 
China Minsheng Banking Corp. Ltd., H Shares
156,500  50,265 
China New Higher Education Group Ltd.
48,000  15,220 
China Pacific Insurance Group Co. Ltd., H Shares
31,800  72,728 
China Rare Earth Holdings Ltd.(1)
2,000  106 
China Renaissance Holdings Ltd.(1)(2)
6,600  6,118 
China Resources Beer Holdings Co. Ltd.
16,000  93,942 
China Resources Land Ltd.
40,000  169,068 
China Resources Medical Holdings Co. Ltd.
46,000  34,147 
China Resources Mixc Lifestyle Services Ltd.
12,200  52,718 
China Sanjiang Fine Chemicals Co. Ltd.(1)
2,000  270 
China SCE Group Holdings Ltd.(1)
67,000  3,456 
China Shineway Pharmaceutical Group Ltd.
11,000  10,863 
China Shuifa Singyes Energy Holdings Ltd.(1)
1,000  50 
China South City Holdings Ltd.(1)(2)
118,000  6,983 
China Starch Holdings Ltd.
35,000  615 
China Sunshine Paper Holdings Co. Ltd.(1)
2,000  666 
China Taiping Insurance Holdings Co. Ltd.
41,400  43,558 
China Tower Corp. Ltd., H Shares
1,234,000  119,392 
China Traditional Chinese Medicine Holdings Co. Ltd.
58,000  22,672 
China Travel International Investment Hong Kong Ltd.(1)
52,000  9,871 
China Vanke Co. Ltd., H Shares
19,200  22,397 
China Water Affairs Group Ltd.
18,000  13,801 
China Yongda Automobiles Services Holdings Ltd.
44,500  19,739 
China Youran Dairy Group Ltd.
11,000  2,047 
China Yuhua Education Corp. Ltd.(1)
34,000  3,594 
Chindata Group Holdings Ltd., ADR(1)
142  1,189 
Chow Tai Fook Jewellery Group Ltd.
47,800  72,482 
CIFI Ever Sunshine Services Group Ltd.(2)
22,000  8,556 
CIFI Holdings Group Co. Ltd.(1)(2)
48,320  4,683 
CITIC Securities Co. Ltd., H Shares
15,500  30,266 
CMGE Technology Group Ltd.(1)(2)
14,000  2,568 
CMOC Group Ltd., H Shares
108,000  64,429 
Concord New Energy Group Ltd.
340,000  27,746 
COSCO SHIPPING Holdings Co. Ltd., Class H
103,500  106,138 
COSCO SHIPPING International Hong Kong Co. Ltd.
16,000  6,750 
COSCO SHIPPING Ports Ltd.
42,000  25,859 
Country Garden Holdings Co. Ltd.(1)(2)
185,000  20,969 
CSPC Pharmaceutical Group Ltd.
106,000  79,670 
CSSC Hong Kong Shipping Co. Ltd.
10,000  1,899 
Differ Group Auto Ltd.(1)(2)
4,000  33 
Digital China Holdings Ltd.
21,000  6,798 
Dongfeng Motor Group Co. Ltd., Class H
94,000  34,481 
Dynagreen Environmental Protection Group Co. Ltd., H Shares
1,000  315 
East Buy Holding Ltd.(1)(2)
6,000  30,395 
15


Avantis Responsible Emerging Markets Equity ETF
Shares Value
E-House China Enterprise Holdings Ltd.(1)(2)
5,100  $ 157 
EVA Precision Industrial Holdings Ltd.
10,000  866 
Everest Medicines Ltd.(1)(2)
1,000  2,306 
Excellence Commercial Property & Facilities Management Group Ltd.(2)
13,000  3,697 
FIH Mobile Ltd.(1)
33,000  2,903 
FinVolution Group, ADR
7,038  35,331 
First Tractor Co. Ltd., H Shares(2)
14,000  7,135 
Fu Shou Yuan International Group Ltd.
34,000  25,289 
Fullshare Holdings Ltd.(1)(2)
435,000  2,108 
Ganfeng Lithium Group Co. Ltd., H Shares
4,280  20,444 
GCL New Energy Holdings Ltd.(1)
3,700  234 
GCL Technology Holdings Ltd.
545,000  94,397 
Geely Automobile Holdings Ltd.
83,000  103,034 
Gemdale Properties & Investment Corp. Ltd.
136,000  5,892 
Genertec Universal Medical Group Co. Ltd.
25,000  12,997 
GF Securities Co. Ltd., H Shares
24,000  34,245 
Goldpac Group Ltd.
1,000  180 
Goldwind Science & Technology Co. Ltd., H Shares
6,400  3,357 
Grand Pharmaceutical Group Ltd.
39,500  20,454 
Great Wall Motor Co. Ltd., H Shares(2)
8,000  9,478 
Greenland Hong Kong Holdings Ltd.(1)
13,000  454 
Greentown China Holdings Ltd.
12,000  14,251 
Guangzhou Automobile Group Co. Ltd., H Shares
24,000  12,638 
Guangzhou R&F Properties Co. Ltd., H Shares(1)
46,400  7,086 
H World Group Ltd., ADR(1)
2,025  81,567 
Haidilao International Holding Ltd.(2)
21,000  57,116 
Haier Smart Home Co. Ltd., H Shares
19,600  60,707 
Hainan Meilan International Airport Co. Ltd., H Shares(1)
3,000  2,877 
Haitian International Holdings Ltd.
12,000  25,768 
Haitong Securities Co. Ltd., H Shares
56,800  35,243 
Hangzhou Tigermed Consulting Co. Ltd., H Shares(2)
500  2,729 
Hansoh Pharmaceutical Group Co. Ltd.
10,000  12,993 
Harbin Electric Co. Ltd., H Shares
28,000  8,555 
Hello Group, Inc., ADR
7,677  66,252 
Hengan International Group Co. Ltd.
31,000  114,990 
Hisense Home Appliances Group Co. Ltd., H Shares
18,000  47,507 
Hollysys Automation Technologies Ltd.(1)
2,162  40,732 
Hope Education Group Co. Ltd.(1)(2)
200,000  12,987 
Hua Hong Semiconductor Ltd.(1)
14,000  36,494 
Huatai Securities Co. Ltd., H Shares
30,400  40,000 
Huazhong In-Vehicle Holdings Co. Ltd.
4,000  1,199 
Huijing Holdings Co. Ltd.(1)
4,000  26 
Industrial & Commercial Bank of China Ltd., H Shares
597,000  273,711 
Inkeverse Group Ltd.(1)
49,000  5,611 
iQIYI, Inc., ADR(1)
9,234  46,539 
JD Health International, Inc.(1)
2,350  12,670 
JD Logistics, Inc.(1)
54,600  72,780 
Jiangsu Expressway Co. Ltd., H Shares
20,000  18,061 
Jinchuan Group International Resources Co. Ltd.
58,000  2,917 
Jinxin Fertility Group Ltd.(1)(2)
73,000  36,508 
16


Avantis Responsible Emerging Markets Equity ETF
Shares Value
Jiumaojiu International Holdings Ltd.(2)
13,000  $ 20,851 
JNBY Design Ltd.
500  515 
JOYY, Inc., ADR
1,084  37,203 
Kandi Technologies Group, Inc.(1)
2,267  7,209 
Kanzhun Ltd., ADR(1)
795  11,766 
KE Holdings, Inc., ADR(1)
11,228  193,122 
Keymed Biosciences, Inc.(1)
5,500  37,337 
Kingboard Holdings Ltd.
9,500  21,558 
Kingboard Laminates Holdings Ltd.
15,500  12,882 
Kingdee International Software Group Co. Ltd.(1)
1,000  1,545 
Kingsoft Cloud Holdings Ltd., ADR(1)(2)
942  5,360 
Kingsoft Corp. Ltd.
16,400  65,369 
Kuaishou Technology(1)
3,100  25,376 
KWG Group Holdings Ltd.(1)(2)
33,000  3,823 
KWG Living Group Holdings Ltd.(1)(2)
32,000  3,307 
Legend Biotech Corp., ADR(1)
99  6,867 
Lenovo Group Ltd.
132,000  149,203 
Leoch International Technology Ltd.
25,000  5,098 
LexinFintech Holdings Ltd., ADR(1)
6,446  16,695 
Li Auto, Inc., ADR(1)
2,660  110,789 
Li Ning Co. Ltd.
10,500  49,626 
Lifetech Scientific Corp.(1)
124,000  38,554 
Linklogis, Inc., Class B(2)
20,500  4,622 
Logan Group Co. Ltd.(1)(2)
2,000  192 
Longfor Group Holdings Ltd.
11,558  24,394 
Lonking Holdings Ltd.
21,000  3,745 
Lufax Holding Ltd., ADR
5,603  6,780 
Luye Pharma Group Ltd.(1)(2)
43,500  15,974 
LVGEM China Real Estate Investment Co. Ltd.(1)(2)
30,000  6,312 
Maoyan Entertainment(1)(2)
3,400  4,660 
Meitu, Inc.(2)
76,000  29,197 
Meituan, Class B(1)
18,450  305,332 
Midea Real Estate Holding Ltd.
16,400  15,391 
MINISO Group Holding Ltd., ADR(1)
1,313  34,007 
Minth Group Ltd.
16,000  47,497 
Moatable, Inc., ADR
27  30 
Mobvista, Inc.(1)(2)
3,000  1,370 
Nam Tai Property, Inc.(1)
100  459 
NetDragon Websoft Holdings Ltd.
13,000  25,196 
NetEase, Inc., ADR
5,316  550,100 
New China Life Insurance Co. Ltd., H Shares
16,500  41,278 
New Horizon Health Ltd.(1)
7,500  16,600 
New Oriental Education & Technology Group, Inc., ADR(1)
1,330  72,139 
Nexteer Automotive Group Ltd.
25,000  16,089 
NIO, Inc., ADR(1)
4,120  42,312 
Niu Technologies, ADR(1)
23  71 
Noah Holdings Ltd., ADR
1,772  24,649 
Nongfu Spring Co. Ltd., H Shares
16,400  92,109 
Orient Overseas International Ltd.
5,500  73,762 
PDD Holdings, Inc., ADR(1)
4,177  413,398 
People's Insurance Co. Group of China Ltd., H Shares
138,000  46,973 
17


Avantis Responsible Emerging Markets Equity ETF
Shares Value
Perennial Energy Holdings Ltd.
15,000  $ 1,662 
Pharmaron Beijing Co. Ltd., H Shares(2)
375  874 
PICC Property & Casualty Co. Ltd., H Shares
148,000  170,194 
Ping An Healthcare & Technology Co. Ltd.(1)(2)
1,600  3,994 
Ping An Insurance Group Co. of China Ltd., H Shares
67,500  404,132 
Poly Property Group Co. Ltd.
61,000  14,165 
Postal Savings Bank of China Co. Ltd., H Shares
124,000  61,161 
Q Technology Group Co. Ltd.(1)
16,000  5,945 
Qifu Technology, Inc., ADR
5,842  99,314 
Radiance Holdings Group Co. Ltd.(1)
27,000  12,442 
Redco Properties Group Ltd.(1)
10,000  1,696 
Sany Heavy Equipment International Holdings Co. Ltd.
26,000  40,513 
SCE Intelligent Commercial Management Holdings Ltd.(1)
3,000  436 
Seazen Group Ltd.(1)(2)
92,000  17,944 
Shandong Weigao Group Medical Polymer Co. Ltd., H Shares
27,600  27,481 
Shanghai Conant Optical Co. Ltd., Class H
1,500  1,149 
Shanghai Fosun Pharmaceutical Group Co. Ltd., H Shares
500  1,174 
Shanghai Pharmaceuticals Holding Co. Ltd., H Shares
8,700  14,304 
Shenzhen Expressway Corp. Ltd., H Shares
12,000  9,693 
Shenzhen International Holdings Ltd.
48,500  34,475 
Shenzhen Investment Ltd.
76,000  13,393 
Shenzhou International Group Holdings Ltd.
20,500  210,050 
Shimao Services Holdings Ltd.(1)(2)
26,000  5,071 
Shoucheng Holdings Ltd.
62,000  14,464 
Shougang Fushan Resources Group Ltd.
90,000  25,936 
Shui On Land Ltd.
139,500  13,520 
Sihuan Pharmaceutical Holdings Group Ltd.(2)
76,000  6,207 
Sino Biopharmaceutical Ltd.
330,000  125,264 
Sino-Ocean Group Holding Ltd.(1)
64,500  3,000 
Sinopharm Group Co. Ltd., H Shares
58,400  169,472 
Sinotruk Hong Kong Ltd.
4,500  8,351 
Skyworth Group Ltd.
53,013  19,397 
SOHO China Ltd.(1)
57,000  6,614 
Sohu.com Ltd., ADR(1)
980  10,349 
Sun King Technology Group Ltd.(1)
2,000  405 
Sunac Services Holdings Ltd.(2)
17,000  5,305 
Sunny Optical Technology Group Co. Ltd.
6,800  55,523 
SY Holdings Group Ltd.
3,000  1,913 
TAL Education Group, ADR(1)
6,964  49,096 
TCL Electronics Holdings Ltd.
42,000  16,422 
Tencent Holdings Ltd.
35,200  1,458,700 
Tencent Music Entertainment Group, ADR(1)
6,118  41,725 
Tianneng Power International Ltd.(2)
38,000  40,481 
Times China Holdings Ltd.(1)(2)
43,000  2,851 
Tingyi Cayman Islands Holding Corp.
40,000  58,732 
Tong Ren Tang Technologies Co. Ltd., H Shares
16,000  12,814 
Tongcheng Travel Holdings Ltd.(1)
12,400  27,789 
Topsports International Holdings Ltd.
65,000  52,934 
TravelSky Technology Ltd., H Shares
17,000  30,437 
Trip.com Group Ltd., ADR(1)
3,468  136,327 
Triumph New Energy Co. Ltd., H Shares(1)
2,000  1,337 
18


Avantis Responsible Emerging Markets Equity ETF
Shares Value
Truly International Holdings Ltd.
34,000  $ 3,765 
Tsaker New Energy Tech Co. Ltd.
4,000  586 
Tsingtao Brewery Co. Ltd., H Shares
8,000  66,525 
Tuya, Inc., ADR(1)
1,048  1,928 
Uni-President China Holdings Ltd.
32,000  23,663 
Up Fintech Holding Ltd., ADR(1)
126  619 
Venus MedTech Hangzhou, Inc., H Shares(1)(2)
500  357 
Vinda International Holdings Ltd.
15,000  34,708 
Vipshop Holdings Ltd., ADR(1)
13,844  218,597 
Viva Biotech Holdings(1)
89,000  16,552 
Viva Goods Company Ltd.(1)(2)
80,000  11,605 
Vnet Group, Inc., ADR(1)
3,734  14,002 
Want Want China Holdings Ltd.
210,000  138,892 
Weibo Corp., ADR
2,413  31,128 
Weichai Power Co. Ltd., H Shares
29,000  37,567 
Wuling Motors Holdings Ltd.
10,000  827 
WuXi AppTec Co. Ltd., H Shares
1,200  13,150 
Wuxi Biologics Cayman, Inc.(1)
14,500  81,745 
Xiabuxiabu Catering Management China Holdings Co. Ltd.
25,000  12,082 
Xinhua Winshare Publishing & Media Co. Ltd., H Shares
11,000  8,220 
Xinjiang Xinxin Mining Industry Co. Ltd., H Shares
4,000  468 
Xinte Energy Co. Ltd., H Shares(1)
22,400  39,602 
Xinyi Energy Holdings Ltd.
156,000  34,028 
XPeng, Inc., Class A, ADR(1)
680  12,097 
Xtep International Holdings Ltd.
16,500  16,322 
Yadea Group Holdings Ltd.
24,000  46,144 
Yeahka Ltd.(1)
2,800  5,564 
YiChang HEC ChangJiang Pharmaceutical Co. Ltd., H Shares(1)(2)
200  162 
Yidu Tech, Inc.(1)
11,600  5,891 
Yihai International Holding Ltd.
15,000  28,111 
Yixin Group Ltd.
52,000  5,301 
Youdao, Inc., ADR(1)
26  101 
Yuexiu Property Co. Ltd.
32,000  39,647 
Yuexiu Services Group Ltd.(2)
15,000  6,045 
Yuexiu Transport Infrastructure Ltd.
28,000  14,476 
Yum China Holdings, Inc.
4,806  258,034 
Yuzhou Group Holdings Co. Ltd.(1)(2)
112,000  2,394 
Zengame Technology Holding Ltd.
28,000  10,816 
Zhejiang Expressway Co. Ltd., H Shares
26,000  19,415 
Zhenro Properties Group Ltd.(1)
8,000  85 
ZhongAn Online P&C Insurance Co. Ltd., H Shares(1)
3,700  10,974 
Zhongliang Holdings Group Co. Ltd.(1)
4,500  244 
Zhongsheng Group Holdings Ltd.
11,500  35,039 
Zhou Hei Ya International Holdings Co. Ltd.(1)(2)
23,500  8,299 
Zhuguang Holdings Group Co. Ltd.(1)
2,000  127 
Zoomlion Heavy Industry Science & Technology Co. Ltd., Class H
7,400  3,533 
ZTO Express Cayman, Inc., ADR
3,549  89,222 
14,712,057 
Colombia — 0.1%
Almacenes Exito SA, ADR(1)
2,195  12,838 
Bancolombia SA
1,623  11,534 
19


Avantis Responsible Emerging Markets Equity ETF
Shares Value
Bancolombia SA, ADR
913  $ 24,377 
Interconexion Electrica SA ESP
6,498  25,290 
74,039 
Czech Republic — 0.2%
Komercni Banka AS
1,311  40,938 
Moneta Money Bank AS
17,727  66,031 
106,969 
Egypt — 0.1%
Commercial International Bank Egypt S.A.E., GDR
29,306  35,943 
Greece — 0.6%
Aegean Airlines SA(1)
1,415  20,248 
Alpha Services & Holdings SA(1)
40,660  68,356 
Eurobank Ergasias Services & Holdings SA, Class A(1)
27,092  46,966 
Hellenic Telecommunications Organization SA
626  9,355 
Holding Co. ADMIE IPTO SA(1)
54  134 
JUMBO SA
877  27,090 
LAMDA Development SA(1)
1,719  12,585 
National Bank of Greece SA(1)
7,089  48,133 
Piraeus Financial Holdings SA(1)
22,800  78,560 
Sunrisemezz PLC(1)
646  174 
Terna Energy SA
566  10,160 
321,761 
Hong Kong — 0.1%
China Dili Group(1)
6,000  252 
Edvantage Group Holdings Ltd.
20,725  6,156 
GOME Retail Holdings Ltd.(1)
413,000  3,005 
Jiayuan International Group Ltd.(1)
18,000  397 
Renze Harvest International Ltd.(1)(2)
4,000  133 
South Manganese Investment Ltd.(1)
22,000  1,389 
Wharf Holdings Ltd.
23,000  48,725 
60,057 
Hungary — 0.2%
Magyar Telekom Telecommunications PLC
3,074  4,089 
OTP Bank Nyrt
2,367  96,520 
Richter Gedeon Nyrt
1,703  42,642 
143,251 
India — 18.5%
360 ONE WAM Ltd.
2,192  12,895 
3i Infotech Ltd.(1)
335  132 
3M India Ltd.
18  6,772 
Aarti Industries Ltd.
5,080  30,159 
Aarti Pharmalabs Ltd.(1)
98  467 
ABB India Ltd.
225  11,900 
Accelya Solutions India Ltd.
256  4,862 
Action Construction Equipment Ltd.
800  7,386 
Adani Green Energy Ltd.(1)
1,382  15,478 
Adani Ports & Special Economic Zone Ltd.
4,044  38,653 
Aditya Birla Capital Ltd.(1)
14,767  32,282 
Aditya Birla Fashion & Retail Ltd.(1)
2,513  6,660 
Advanced Enzyme Technologies Ltd.
510  2,020 
Affle India Ltd.(1)
104 
20