DBX ETF TRUST

To our Shareholders: (Unaudited)

Dear Shareholder,

We are pleased to provide this semiannual report on four of our equity ETFs for the period ended February 28, 2022.

Global equities posted strong results, supported by economic resilience and robust corporate earnings, even though the Omicron variant of the coronavirus-induced lockdowns and Russia’s full-fledged military invasion of Ukraine kept investors wary. As the period ended, developed markets outperformed emerging markets – Japan and the UK recovered faster than other regions owing to better management of Omicron-related cases.

The U.S. economy recovered steadily, supported by growing personal consumption expenditure and manufacturing activity. Despite the receding number of Omicron infections, consumer confidence remained weak owing to a less favorable long-term economic outlook. Markets gained during Q4 2021 on the back of stable economic data and rising corporate earnings. Notwithstanding this advance, U.S. equities have witnessed heightened volatility so far in 2022, due to rising energy prices, coupled with concerns regarding the Federal Reserve’s tightening monetary policy. Labor-market data indicated falling unemployment rates. However, as inflation jumped to the highest level in 40 years, the Federal Reserve indicated a hawkish stance and confirmed tapering of bond purchases by March 2022.

Within the Eurozone, the manufacturing sector struggled, due to supply-chain bottlenecks, escalating input costs, and weak consumer confidence. Amid rising geopolitical risks and gas supply concerns, inflation reached an all-time high. Although the European Central Bank (ECB) plans to end its bond buying under the Pandemic Emergency Purchase Programme by the end of March, quantitative easing would continue through the older Asset Purchase Programme. The ECB expects to defer interest rate hikes until then.

The UK economy expanded, backed by higher government spending and household expenditure. Elsewhere, Japan turned out to be the most resilient of developed nations, experiencing the strongest economic recovery. Economic growth was aided by expanding household consumption and business investment amid declining coronavirus cases and easing restrictions.

We believe 2022 will be viewed as a year of transition as the global economy, along with the investment environment, evolves in search of a new normal. Geopolitical pressures coupled with disparities in central bank policies across different regions is expected to impact investment decisions. On one hand, the economic effects of the war between Russia and Ukraine and other supporting nations need to be monitored. On the other, we believe high inflation is a proxy of readjustment to demand-supply mismatches and labor markets. It can, therefore, be tackled with efficient risk management of portfolios, along with longer-term investment horizon.

Our team appreciates your trust and looks forward to serving your investment needs through innovative index-driven strategies.

Sincerely,

/s/ Freddi Klassen

Freddi Klassen

President and Chief Executive Officer

Assumptions, estimates and opinions contained in this document constitute our judgment as of the date of the document and are subject to change without notice. Any projections are based on a number of assumptions as to market conditions and there can be no guarantee that any projected results will be achieved. Past performance is not a guarantee of future results.

Xtrackers FTSE Developed ex US Multifactor ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the FTSE Developed ex US Comprehensive Factor Index (the “Underlying Index”). The Underlying Index is designed to track the equity market performance of companies in developed countries (except the United States) selected on the investment style criteria (“factors”) of value, momentum, quality, low volatility and size. The companies eligible for the Under-lying Index are derived from its starting universe, the FTSE Developed ex US Index, which is comprised of large- and mid-capitalization equity securities from developed markets (except the United States). It is not possible to invest directly into an index.

Country Diversification * as of February 28, 2022


Japan			26.2%
Australia			11.1%
United Kingdom			10.9%
Canada			6.1%
Sweden			5.6%
Switzerland			4.5%
South Korea			4.4%
Germany			3.7%
France			3.7%
Israel			3.2%
Netherlands			2.6%
Hong Kong			2.4%
Singapore			2.1%
Other			13.5%

Total			100.0%

* As a percent of total investments excluding securities lending collateral and cash equivalents.

Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 7.

Xtrackers MSCI Kokusai Equity ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI Kokusai Index (the “Underlying Index”). The MSCI Kokusai Index is also known as the MSCI World ex Japan Index. The Underlying Index is designed to track the performance of equity markets in developed markets (excluding Japan). It is not possible to invest directly into an index.

* As a percent of total investments excluding securities lending collateral and cash equivalents.

Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 21.

Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 1000 2Qual/Val 5% Capped Factor Index (the “Underlying Index”). The Underlying Index is designed to track the equity market performance of companies in the United States selected on the investment style criteria (“factors”) of quality and value. The companies eligible for the Underlying Index are derived from its starting universe, the Russell 1000 Index, which is comprised of large-cap equity securities from issuers in the United States. It is not possible to invest directly into an index.

* As a percent of total investments excluding securities lending collateral and cash equivalents.

Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 35.

Xtrackers Russell US Multifactor ETF (the “Fund”), using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 1000 Comprehensive Factor Index (the “Underlying Index”). The Underlying Index is designed to track the equity market performance of companies in the United States selected on the investment style criteria (“factors”) of value, momentum, quality, low volatility and size. The companies eligible for the Underlying Index are derived from its starting universe, the Russell 1000 Index, which is comprised of large-cap equity securities from issuers in the United States. It is not possible to invest directly into an index.

* As a percent of total investments excluding securities lending collateral and cash equivalents.

Portfolio holdings and characteristics are subject to change. For more complete details about the Fund’s investment portfolio see page 40.

As a shareholder of one or more of the Funds, you 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. In the most recent six-month period the Funds limited these expenses; had they not done so, expenses would have been higher. The expense examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other funds.

The examples in the tables are based on an investment of $1,000 invested at the beginning of the period and held for the entire period (September 1, 2021 to February 28, 2022).

The first line in the following tables provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. 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 in the first line under the heading “Expenses Paid During the Period” to estimate the expenses you paid on your account during this period.

The second line in the following tables provides information about hypothetical account values and hypothetical expenses based on the Funds’ actual expense ratios and an assumed rate of return of 5% per year before expenses (which is not the Funds’ actual return). 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 the 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 tables are meant to highlight your ongoing costs only, and do not reflect any transactional costs. Therefore the second line in 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.

(1) Expenses are equal to each Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 181 (the number of days in the most recent six-month period), then divided by 365.


	Number of Shares		Value
COMMON STOCKS — 99.3%
Australia — 11.1%
Adbri Ltd.		6,728	$	16,111
ALS Ltd.		8,225		70,607
Alumina Ltd.		45,469		65,164
Ampol Ltd.		502		10,735
Ansell Ltd.		4,452		83,026
APA Group (a)		6,482		47,272
Aristocrat Leisure Ltd.		2,892		78,214
ASX Ltd.		2,855		170,566
Aurizon Holdings Ltd.		43,600		110,734
Australia & New Zealand Banking Group Ltd.		2,436		45,977
Bank of Queensland Ltd.		8,346		48,450
Bendigo & Adelaide Bank Ltd.		14,683		102,392
BHP Group Ltd.		10,442		353,554
BlueScope Steel Ltd.		16,220		238,226
Boral Ltd.		1,820		4,794
Brambles Ltd.		31,390		225,504
carsales.com Ltd.		3,773		56,126
Challenger Ltd.		9,674		47,385
Charter Hall Group REIT		12,875		156,678
Cleanaway Waste Management Ltd.		17,252		34,677
Cochlear Ltd.		876		141,691
Coles Group Ltd.		16,273		205,232
Commonwealth Bank of Australia		981		66,531
Computershare Ltd.		12,146		190,906
CSL Ltd.		160		30,185
CSR Ltd.		32,776		136,044
Deterra Royalties Ltd.		10,130		32,785
Dexus REIT		45,784		362,797
Domino’s Pizza Enterprises Ltd.		856		49,040
Downer EDI Ltd.		28,738		105,103
Endeavour Group Ltd.		23,138		120,217
Fortescue Metals Group Ltd.		2,415		31,807
Goodman Group REIT		14,583		235,241
GPT Group REIT		3,571		12,801
Harvey Norman Holdings Ltd.		32,879		125,258
IDP Education Ltd.		496		9,452
IGO Ltd.		1,716		13,610
Iluka Resources Ltd.		18,060		140,095
Incitec Pivot Ltd.		18,476		41,428
Insurance Australia Group Ltd.		6,069		20,258
JB Hi-Fi Ltd.		3,117		111,532
Lendlease Corp. Ltd. (a)		3,724		28,537
Macquarie Group Ltd.		680		89,204
Magellan Financial Group Ltd.		340		4,540
Medibank Pvt Ltd.		186,169		429,598
Metcash Ltd.		76,836		229,715
Mineral Resources Ltd.		2,948		96,800
Mirvac Group REIT		161,520		303,566
National Australia Bank Ltd.		1,511		31,731
Newcrest Mining Ltd.		1,510		28,127
Orica Ltd.		889		9,412
Origin Energy Ltd.		2,071		8,566
Orora Ltd.		69,648		188,515
OZ Minerals Ltd.		4,090		75,682
Perpetual Ltd.		2,046		52,246


	Number of Shares		Value
Australia (Continued)
Platinum Asset Management Ltd.		10,004	$	17,277
Qube Holdings Ltd.		17,610		37,953
Ramsay Health Care Ltd.		817		37,925
REA Group Ltd.		599		57,237
Reece Ltd.		6,715		94,385
Rio Tinto Ltd.		3,466		297,210
Santos Ltd.		4,975		26,209
SEEK Ltd.		1,277		24,714
Seven Group Holdings Ltd.		1,456		23,445
Shopping Centres Australasia Property Group REIT		84,461		177,738
Sonic Healthcare Ltd.		14,333		364,546
South32 Ltd.		49,700		173,472
Star Entertainment Group Ltd. *		2,517		6,119
Stockland REIT		57,692		174,155
Suncorp Group Ltd.		35,094		274,268
Tabcorp Holdings Ltd.		45,196		163,654
Telstra Corp. Ltd.		40,644		116,794
Transurban Group (a)		8,536		78,604
Treasury Wine Estates Ltd.		8,583		72,372
Washington H Soul Pattinson & Co. Ltd.		5,853		106,945
Wesfarmers Ltd.		6,681		233,628
Westpac Banking Corp.		3,474		57,502
Woodside Petroleum Ltd.		1,137		23,547
Woolworths Group Ltd.		9,527		245,352

(Cost $8,250,438)				8,609,495

Austria — 0.4%
ANDRITZ AG		2,797		125,664
Erste Group Bank AG		357		12,827
Raiffeisen Bank International AG		558		9,194
Telekom Austria AG *		7,572		62,001
Verbund AG		309		37,484
voestalpine AG		2,166		71,623

(Cost $308,448)				318,793

Belgium — 1.1%
Ackermans & van Haaren NV		302		56,648
Ageas SA/NV		975		47,068
D’ieteren Group		243		39,440
Elia Group SA/NV		155		22,389
Etablissements Franz Colruyt NV		559		22,402
Groupe Bruxelles Lambert SA		389		40,608
KBC Group NV		154		11,160
Proximus SADP		5,332		106,363
Sofina SA		576		224,626
Solvay SA		395		44,242
Telenet Group Holding NV		1,137		39,717
UCB SA		246		26,995
Umicore SA		1,184		48,793
Warehouses De Pauw CVA REIT		2,640		104,436

(Cost $781,384)				834,887

Canada — 6.1%
Alimentation Couche-Tard, Inc.		2,539		99,590
Bank of Montreal		467		53,289
Bank of Nova Scotia		2,056		148,889
Barrick Gold Corp.		233		5,263


	Number of Shares		Value
Canada (Continued)
BCE, Inc.		1,066	$	55,950
Brookfield Asset Management, Inc., Class A		528		28,836
Canadian Imperial Bank of Commerce		463		58,564
Canadian National Railway Co.		269		33,348
Canadian Pacific Railway Ltd.		1,613		113,502
Canadian Tire Corp. Ltd., Class A		1,899		279,786
Canadian Utilities Ltd., Class A		2,582		71,861
CGI, Inc.*		1,820		149,118
Constellation Software, Inc.		101		170,105
Dollarama, Inc.		2,181		112,631
Enbridge, Inc.		1,696		73,223
Fairfax Financial Holdings Ltd.		399		193,295
Fortis, Inc.		3,149		144,198
Franco-Nevada Corp.		251		36,939
George Weston Ltd.		2,955		320,208
Great-West Lifeco, Inc.		2,527		75,968
Hydro One Ltd., 144A		5,374		132,618
IGM Financial, Inc.		3,626		128,733
Intact Financial Corp.		1,219		174,717
Loblaw Cos. Ltd.		3,614		281,717
Magna International, Inc.		2,421		179,750
Manulife Financial Corp.		5,801		117,452
Metro, Inc.		2,418		126,128
National Bank of Canada		1,510		120,993
Nutrien Ltd.		1,019		87,579
Power Corp. of Canada		7,021		216,384
Restaurant Brands International, Inc.		165		9,230
Rogers Communications, Inc., Class B		4,443		229,410
Royal Bank of Canada		288		31,837
Saputo, Inc.		3,220		78,853
Shaw Communications, Inc., Class B		6,611		198,119
Sun Life Financial, Inc. (b)		3,006		157,985
TC Energy Corp.		1,502		80,645
TELUS Corp.		2,171		54,791
Thomson Reuters Corp.		526		53,149
Toronto-Dominion Bank		837		67,496
Wheaton Precious Metals Corp.		217		9,502

(Cost $4,093,268)				4,761,651

Chile — 0.0%
Antofagasta PLC
(Cost $22,753)		1,477		30,143

China — 0.4%
Lenovo Group Ltd.		142,257		158,211
Tingyi Cayman Islands Holding Corp.		12,174		26,922
Uni-President China Holdings Ltd.		18,772		19,460
Want Want China Holdings Ltd.		68,295		72,633

(Cost $232,609)				277,226

Denmark — 1.4%
A.P. Moller — Maersk A/S, Class A		27		81,132
A.P. Moller — Maersk A/S, Class B		11		34,914
Carlsberg A/S, Class B		1,129		165,739
Chr Hansen Holding A/S		87		6,366
Coloplast A/S, Class B		453		68,280
Demant A/S*		824		34,826


	Number of Shares		Value
Denmark (Continued)
DSV A/S		570	$	105,607
Genmab A/S*		137		46,132
GN Store Nord AS		372		19,688
H Lundbeck A/S		110		2,673
Novo Nordisk A/S, Class B		559		57,575
Novozymes A/S, Class B		1,946		127,881
Orsted AS, 144A		182		23,667
Pandora A/S		215		22,258
ROCKWOOL International A/S, Class B		98		33,754
Royal Unibrew A/S		1,096		116,906
SimCorp A/S		404		36,615
Tryg A/S		2,323		52,826
Vestas Wind Systems A/S		1,071		35,174

(Cost $971,753)				1,072,013

Finland — 1.7%
Elisa OYJ		2,237		124,499
Fortum OYJ		9,890		209,283
Huhtamaki OYJ (b)		1,354		49,715
Kesko OYJ, Class B		11,059		327,182
Kojamo OYJ		1,808		42,158
Kone OYJ, Class B		864		50,832
Neste OYJ (b)		190		7,508
Nokia OYJ*		1,094		5,944
Nokian Renkaat OYJ		4,860		92,799
Nordea Bank Abp		2,185		24,414
Orion OYJ, Class B		654		30,845
Sampo OYJ, Class A		258		12,275
Stora Enso OYJ, Class R		1,498		28,890
UPM-Kymmene OYJ		3,398		118,316
Valmet OYJ		4,407		153,943
Wartsila OYJ Abp		6,202		70,149

(Cost $1,475,945)				1,348,752

France — 3.7%
Air Liquide SA		244		40,753
ALD SA, 144A		786		11,035
Amundi SA, 144A		346		24,250
Arkema SA		407		54,354
AXA SA		1,183		32,255
BioMerieux		82		9,037
BNP Paribas SA		153		9,024
Bollore SA		13,559		69,111
Bouygues SA		1,501		53,983
Bureau Veritas SA		2,336		67,327
Capgemini SE		554		117,170
Carrefour SA		12,524		251,799
Cie de Saint-Gobain		1,649		103,628
Cie Generale des Etablissements Michelin SCA		1,872		260,726
Danone SA		1,045		63,746
Dassault Systemes SE		548		26,769
Edenred		993		45,606
Eiffage SA		556		57,029
Electricite de France SA		734		6,703
Engie SA		4,481		71,812
EssilorLuxottica SA		163		28,693


	Number of Shares		Value
France (Continued)
Eurazeo SE		97	$	7,545
Getlink SE		663		10,902
Hermes International		6		8,370
ICADE REIT (b)		131		8,137
Imerys SA		296		12,700
Ipsen SA		94		11,007
JCDecaux SA*		375		10,623
Kering SA		5		3,578
Legrand SA		1,298		123,660
L’Oreal SA		11		4,386
Orange SA		16,209		196,879
Orpea SA		154		6,407
Pernod Ricard SA		185		40,655
Publicis Groupe SA		3,911		261,989
Remy Cointreau SA		130		25,217
Renault SA*		565		18,112
Rexel SA*		1,123		24,969
Rubis SCA		1,181		37,102
Sanofi		369		38,740
Sartorius Stedim Biotech		34		13,114
Schneider Electric SE		307		48,199
SCOR SE		398		13,022
SEB SA		356		52,262
Sodexo SA		286		24,125
Teleperformance		361		134,577
Thales SA		472		54,553
TotalEnergies SE (b)		202		10,344
Ubisoft Entertainment SA*		125		6,788
Veolia Environnement SA		6,042		211,803
Vinci SA		402		42,678
Vivendi SE		1,739		22,091
Wendel SE		42		4,295

(Cost $2,652,663)				2,893,639

Germany — 3.5%
1&1 AG		454		10,923
adidas AG		51		12,147
Allianz SE		84		19,181
BASF SE		923		61,425
Bayerische Motoren Werke AG		579		56,293
Bechtle AG		358		18,517
Beiersdorf AG		402		40,827
Brenntag SE		3,363		282,846
Carl Zeiss Meditec AG		217		34,330
Continental AG*		240		20,703
Covestro AG, 144A		579		30,702
Daimler Truck Holding AG*		290		8,853
Deutsche Boerse AG		62		10,634
Deutsche Post AG		1,639		83,136
Deutsche Telekom AG		1,530		27,547
Deutsche Wohnen SE		320		13,374
E.ON SE		22,882		311,446
Evonik Industries AG		1,923		58,080
Fielmann AG		79		4,712
Fresenius Medical Care AG & Co. KGaA		824		53,051
Fresenius SE & Co. KGaA		1,820		63,913
FUCHS PETROLUB SE		574		18,104


	Number of Shares		Value
Germany (Continued)
GEA Group AG		1,820	$	79,868
Hannover Rueck SE		166		30,727
HeidelbergCement AG		599		39,116
Henkel AG & Co. KGaA		269		20,727
HOCHTIEF AG		84		5,687
Infineon Technologies AG		138		4,765
KION Group AG		111		8,997
Knorr-Bremse AG		166		14,730
LANXESS AG		1,440		70,487
LEG Immobilien SE		1,538		199,179
Mercedes-Benz Group AG		565		44,530
Merck KGaA		752		149,967
METRO AG*		5,385		50,565
MTU Aero Engines AG		94		22,827
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen		113		31,369
ProSiebenSat.1 Media SE		2,078		28,627
Puma SE		191		17,587
Rational AG		32		23,650
Rheinmetall AG		206		30,912
RWE AG		3,600		167,766
SAP SE		56		6,373
Scout24 SE, 144A		562		32,951
Siemens AG		141		20,059
Siemens Energy AG		1,433		34,493
Siemens Healthineers AG, 144A		293		18,916
Symrise AG		406		48,566
Talanx AG		237		10,424
Telefonica Deutschland Holding AG		15,791		43,366
Uniper SE		2,489		79,676
United Internet AG		470		16,027
Vitesco Technologies Group AG*		114		4,834
Vonovia SE		1,657		88,404
Wacker Chemie AG		131		20,415
Zalando SE, 144A*		163		10,908

(Cost $2,612,635)				2,718,239

Hong Kong — 2.4%
AIA Group Ltd.		2,686		27,930
ASM Pacific Technology Ltd.		1,600		17,487
Bank of East Asia Ltd.		7,365		12,404
BOC Hong Kong Holdings Ltd.		9,952		35,790
Cafe de Coral Holdings Ltd.		1,846		2,830
Chow Tai Fook Jewellery Group Ltd.*		16,039		33,336
CK Asset Holdings Ltd.		20,703		130,757
CK Hutchison Holdings Ltd.		24,381		170,836
CK Infrastructure Holdings Ltd.		7,422		46,069
CLP Holdings Ltd.		10,310		104,964
Dairy Farm International Holdings Ltd.		3,565		9,447
First Pacific Co. Ltd.		11,851		4,641
Hang Lung Group Ltd.		1,899		4,185
Hang Seng Bank Ltd.		1,937		35,747
Henderson Land Development Co. Ltd.		8,574		35,662
Hong Kong & China Gas Co. Ltd.		39,836		60,261
Hong Kong Exchanges & Clearing Ltd.		630		30,445
Hutchison Port Holdings Trust, Class U		261,600		65,400
Hutchison Telecommunications Hong Kong Holdings Ltd.		60,268		9,950


	Number of Shares		Value
Hong Kong (Continued)
Jardine Matheson Holdings Ltd.		800	$	47,600
Johnson Electric Holdings Ltd.		4,966		8,249
Kerry Logistics Network Ltd.		20,731		50,304
Kerry Properties Ltd.		27,641		75,703
Lee & Man Paper Manufacturing Ltd.		5,123		3,291
Link REIT		4,440		35,856
MTR Corp. Ltd.		1,551		8,029
New World Development Co. Ltd.		794		3,176
NWS Holdings Ltd.		10,783		10,585
PCCW Ltd.		35,131		19,603
Power Assets Holdings Ltd.		30,148		190,024
Sino Land Co. Ltd.		53,592		67,421
SITC International Holdings Co. Ltd.		14,118		57,999
Sun Hung Kai Properties Ltd.		5,501		63,995
Swire Pacific Ltd., Class A		3,272		18,090
Swire Pacific Ltd., Class B		11,709		10,999
Swire Properties Ltd.		3,892		10,111
Techtronic Industries Co. Ltd.		2,836		47,365
Towngas Smart Energy Co. Ltd.*		47,385		33,597
VTech Holdings Ltd.		12,801		105,259
WH Group Ltd., 144A		30,128		21,014
Wharf Holdings Ltd.		17,082		61,650
Xinyi Glass Holdings Ltd.		16,334		43,377
Yue Yuen Industrial Holdings Ltd.*		10,200		17,231

(Cost $1,803,092)				1,848,669

Ireland — 0.9%
CRH PLC		1,840		83,594
DCC PLC		359		28,227
Experian PLC		878		34,552
Glanbia PLC (b)		9,203		129,417
James Hardie Industries PLC CDI		5,645		182,900
Kerry Group PLC, Class A		443		52,843
Kingspan Group PLC		616		60,084
Smurfit Kappa Group PLC		1,871		93,036

(Cost $558,819)				664,653

Israel — 3.2%
Airport City Ltd.*		2,157		48,840
Alony Hetz Properties & Investments Ltd.		2,322		40,711
Amot Investments Ltd.		5,334		41,019
Azrieli Group Ltd.		290		24,789
Bank Hapoalim BM		18,265		193,109
Bank Leumi Le-Israel BM		35,379		382,768
Bezeq The Israeli Telecommunication Corp. Ltd.*		29,971		49,275
Big Shopping Centers Ltd.		99		14,633
Elbit Systems Ltd.		425		87,109
Electra Ltd.		60		44,849
First International Bank Of Israel Ltd.		1,923		82,608
Gav-Yam Lands Corp. Ltd.		4,403		53,845
Harel Insurance Investments & Financial Services Ltd.		5,385		65,316
ICL Group Ltd.		20,198		229,362
Israel Corp. Ltd.*		57		29,913
Israel Discount Bank Ltd., Class A		56,960		374,586
Maytronics Ltd.		813		17,493
Melisron Ltd.*		95		7,563


	Number of Shares		Value
Israel (Continued)
Mivne Real Estate KD Ltd.		36,300	$	142,122
Mizrahi Tefahot Bank Ltd.		4,412		172,188
Nice Ltd.*		373		84,446
Nova Ltd.*		460		49,926
Phoenix Holdings Ltd.		6,522		80,979
Shapir Engineering and Industry Ltd. (b)		927		9,139
Shufersal Ltd.		4,608		41,215
Strauss Group Ltd.		830		27,266
Tower Semiconductor Ltd.*		1,587		74,165

(Cost $1,970,591)				2,469,234

Italy — 1.9%
A2A SpA		66,767		119,763
Amplifon SpA		550		23,753
Assicurazioni Generali SpA		3,814		75,953
Atlantia SpA*		412		7,594
Banca Mediolanum SpA		986		8,153
Buzzi Unicem SpA		2,230		42,843
Davide Campari-Milano NV		2,481		27,164
De’ Longhi SpA		928		29,665
DiaSorin SpA		143		21,467
Enel SpA		4,019		29,789
Ferrari NV		114		24,681
FinecoBank Banca Fineco SpA		1,440		24,140
Hera SpA		25,127		97,791
Interpump Group SpA		1,768		96,233
Intesa Sanpaolo SpA		11,533		29,710
Italgas SpA		14,168		91,948
Iveco Group NV*		886		7,409
Leonardo SpA*		1,173		10,540
Mediobanca Banca di Credito Finanziario SpA		2,958		30,985
Moncler SpA		1,442		87,753
Pirelli & C SpA, 144A		7,245		40,224
Poste Italiane SpA, 144A		2,542		29,337
Prysmian SpA		2,532		83,953
Recordati Industria Chimica e Farmaceutica SpA		1,085		53,329
Reply SpA		301		49,259
Snam SpA		18,619		103,832
Telecom Italia SpA		129,243		54,858
Telecom Italia SpA-RSP		93,302		39,058
Terna—Rete Elettrica Nazionale		16,268		134,155
UnipolSai Assicurazioni SpA		3,244		8,854

(Cost $1,500,775)				1,484,193

Japan — 26.1%
ABC-Mart, Inc. (b)		363		15,696
Acom Co. Ltd.		6,000		16,670
Activia Properties, Inc. REIT		8		26,985
Advance Residence Investment Corp. REIT		11		30,753
Advantest Corp.		300		23,625
Aeon Co. Ltd. (b)		3,049		68,763
Aeon Mall Co. Ltd. (b)		300		4,201
AEON REIT Investment Corp. REIT		33		41,001
AGC, Inc.		5,300		234,226
Aica Kogyo Co. Ltd.		714		19,962


	Number of Shares		Value
Japan (Continued)
Ain Holdings, Inc.		300	$	16,670
Air Water, Inc.		7,800		113,233
Aisin Corp.		2,993		108,754
Ajinomoto Co., Inc.		4,800		139,155
Amada Co. Ltd.		6,243		54,909
Amano Corp.		2,600		50,747
Anritsu Corp.		200		2,782
Aozora Bank Ltd.		2,600		58,738
As One Corp.		200		11,999
Asahi Group Holdings Ltd.		392		15,806
Asahi Intecc Co. Ltd.		216		4,606
Asahi Kasei Corp.		14,019		131,152
Astellas Pharma, Inc.		5,783		96,329
Azbil Corp.		3,213		120,793
Bandai Namco Holdings, Inc.		700		50,870
Benesse Holdings, Inc.		300		6,090
Bic Camera, Inc. (b)		1,100		9,541
Bridgestone Corp.		4,324		177,390
Brother Industries Ltd.		5,842		105,808
Calbee, Inc.		280		6,277
Canon Marketing Japan, Inc.		2,600		54,201
Canon, Inc.		10,622		248,869
Capcom Co. Ltd.		408		9,830
Casio Computer Co. Ltd.		698		8,151
Chiba Bank Ltd.		3,700		23,419
Chubu Electric Power Co., Inc.		15,331		153,476
Chugai Pharmaceutical Co. Ltd.		100		3,299
Chugoku Electric Power Co., Inc.		3,283		25,711
Coca-Cola Bottlers Japan Holdings, Inc.		400		5,098
COMSYS Holdings Corp.		3,634		87,494
Concordia Financial Group Ltd.		2,900		11,859
Cosmo Energy Holdings Co. Ltd.		200		4,508
Cosmos Pharmaceutical Corp.		190		26,180
Credit Saison Co. Ltd.		1,100		12,368
CyberAgent, Inc.		300		3,871
Dai Nippon Printing Co. Ltd.		3,907		101,326
Daicel Corp.		8,327		63,840
Daido Steel Co. Ltd.		455		16,395
Daifuku Co. Ltd.		126		9,036
Dai-ichi Life Holdings, Inc.		2,200		45,996
Daikin Industries Ltd.		184		33,876
Daio Paper Corp.		4,900		72,325
Daito Trust Construction Co. Ltd.		3,685		406,974
Daiwa House Industry Co. Ltd.		5,602		159,001
Daiwa House REIT Investment Corp. REIT (b)		26		70,319
Daiwa Office Investment Corp. REIT		2		12,294
Daiwa Securities Group, Inc.		14,245		84,326
DeNA Co. Ltd.		500		7,658
Denka Co. Ltd.		1,000		30,649
Denso Corp.		444		31,021
DIC Corp.		2,700		61,396
Disco Corp.		211		58,899
Dowa Holdings Co. Ltd.		900		40,712
Ebara Corp.		4,400		227,688
Electric Power Development Co. Ltd.		4,576		72,509
ENEOS Holdings, Inc.		20,020		78,881


	Number of Shares		Value
Japan (Continued)
EXEO Group, Inc.		1,072	$	22,208
Ezaki Glico Co. Ltd.		400		13,649
Fancl Corp.		200		5,635
FANUC Corp.		96		17,633
Food & Life Cos. Ltd.		184		6,071
FP Corp.		400		11,322
Fuji Electric Co. Ltd.		888		45,181
Fuji Media Holdings, Inc.		800		8,655
FUJIFILM Holdings Corp.		2,451		154,540
Fujitsu General Ltd.		400		8,585
Fujitsu Ltd.		642		92,335
Fukuoka Financial Group, Inc.		500		9,902
Fukuyama Transporting Co. Ltd.		200		6,885
Fuyo General Lease Co. Ltd.		200		13,058
GLP J REIT (b)		26		38,738
GMO Payment Gateway, Inc.		100		9,525
GS Yuasa Corp.		2,638		56,505
H.U. Group Holdings, Inc.		900		23,716
Hakuhodo DY Holdings, Inc.		1,069		14,071
Hamamatsu Photonics KK		850		42,731
Hankyu Hanshin Holdings, Inc.		167		4,981
Haseko Corp.		4,197		53,421
Hino Motors Ltd.		4,159		38,891
Hirose Electric Co. Ltd.		440		65,518
Hisamitsu Pharmaceutical Co., Inc.		140		4,449
Hitachi Ltd.		3,846		188,669
Hitachi Metals Ltd.*		800		14,218
Hitachi Transport System Ltd.		1,280		67,570
Honda Motor Co. Ltd.		3,345		102,376
Horiba Ltd.		500		28,609
Hoshizaki Corp.		313		21,686
House Foods Group, Inc.		857		22,144
Hoya Corp.		500		64,489
Hulic Co. Ltd.		10,048		91,341
Idemitsu Kosan Co. Ltd.		425		11,365
IHI Corp.		300		6,923
Iida Group Holdings Co. Ltd.		7,800		143,776
Industrial & Infrastructure Fund Investment Corp. REIT		26		38,896
INFRONEER Holdings, Inc.		4,984		44,139
Inpex Corp.		3,299		33,942
Internet Initiative Japan, Inc.		1,100		34,956
Isuzu Motors Ltd.		6,200		83,815
Ito En Ltd.		100		5,730
ITOCHU Corp.		5,636		183,161
Itochu Techno-Solutions Corp.		300		7,707
Itoham Yonekyu Holdings, Inc.		5,600		33,598
Iwatani Corp.		4,200		198,376
Izumi Co. Ltd.		500		13,957
J. Front Retailing Co. Ltd. (b)		1,065		8,895
Japan Exchange Group, Inc.		200		3,751
Japan Logistics Fund, Inc. REIT		28		73,054
Japan Metropolitan Fund Invest REIT (b)		48		38,800
Japan Post Holdings Co. Ltd.*		3,500		28,994
Japan Post Insurance Co. Ltd.		700		11,997
Japan Prime Realty Investment Corp. REIT		11		35,720


	Number of Shares		Value
Japan (Continued)
Japan Real Estate Investment Corp. REIT		9	$	47,901
Japan Tobacco, Inc.		6,764		124,503
JFE Holdings, Inc.		5,100		76,162
JSR Corp.		2,632		82,039
JTEKT Corp.		700		6,023
Kadokawa Corp.		800		20,053
Kagome Co. Ltd.		365		9,729
Kajima Corp.		13,300		178,296
Kakaku.com, Inc.		386		8,392
Kaken Pharmaceutical Co. Ltd.		447		16,378
Kamigumi Co. Ltd.		3,732		72,258
Kandenko Co. Ltd.		5,292		40,112
Kaneka Corp.		4,522		147,429
Kansai Electric Power Co., Inc.		13,411		135,304
Kansai Paint Co. Ltd.		1,088		21,718
Kao Corp.		553		25,831
Kawasaki Heavy Industries Ltd.		1,443		26,636
KDDI Corp.		5,729		186,830
Keisei Electric Railway Co. Ltd.		100		2,796
Kenedix Office Investment Corp. REIT		5		29,477
Kewpie Corp.		3,259		69,467
Keyence Corp.		28		13,074
Kikkoman Corp.		773		57,316
Kinden Corp.		3,800		53,779
Kirin Holdings Co. Ltd.		3,312		54,853
Kobayashi Pharmaceutical Co. Ltd.		126		10,743
Kobe Bussan Co. Ltd.		300		9,859
Kobe Steel Ltd.		2,800		14,878
Koei Tecmo Holdings Co. Ltd.		562		19,396
Koito Manufacturing Co. Ltd.		500		25,700
Kokuyo Co. Ltd.		7,800		108,899
Komatsu Ltd.		2,470		56,670
Konami Holdings Corp.		1,582		89,007
Konica Minolta, Inc.		2,700		11,370
Kose Corp.		100		11,400
K’s Holdings Corp.		3,211		34,570
Kubota Corp.		3,800		68,032
Kuraray Co. Ltd.		5,381		50,364
Kurita Water Industries Ltd.		3,828		156,211
Kyocera Corp.		772		44,098
Kyowa Kirin Co. Ltd.		2,600		66,685
Kyudenko Corp.		1,099		29,437
Kyushu Electric Power Co., Inc.		8,364		63,034
LaSalle Logiport REIT		26		37,225
Lawson, Inc. (b)		2,600		108,357
Lintec Corp.		2,613		58,057
Lion Corp.		2,606		34,053
Lixil Corp.		4,811		106,725
M3, Inc.		100		3,707
Mabuchi Motor Co. Ltd.		400		13,770
Makita Corp.		1,418		50,170
Marubeni Corp.		21,091		220,387
Marui Group Co. Ltd.		379		7,420
Maruichi Steel Tube Ltd.		750		18,559
MatsukiyoCocokara & Co.		2,197		84,122
Mazda Motor Corp.*		5,200		38,647
Mebuki Financial Group, Inc.		5,900		13,882


	Number of Shares		Value
Japan (Continued)
Medipal Holdings Corp.		3,151	$	57,371
MEIJI Holdings Co. Ltd.		969		58,136
Menicon Co. Ltd.		200		5,180
MINEBEA MITSUMI, Inc.		1,071		23,210
MISUMI Group, Inc.		3,140		99,918
Mitsubishi Chemical Holdings Corp.		31,802		225,700
Mitsubishi Corp.		3,936		132,288
Mitsubishi Electric Corp.		9,374		112,439
Mitsubishi Estate Co. Ltd.		2,900		44,240
Mitsubishi Gas Chemical Co., Inc.		2,867		50,706
Mitsubishi HC Capital, Inc.		4,050		21,063
Mitsubishi Heavy Industries Ltd.		1,913		56,406
Mitsubishi Logistics Corp.		1,100		26,188
Mitsubishi Materials Corp.		700		12,599
Mitsubishi Shokuhin Co. Ltd.		500		13,458
Mitsubishi UFJ Financial Group, Inc.		2,700		16,710
Mitsui & Co. Ltd.		10,625		264,345
Mitsui Chemicals, Inc.		6,200		158,156
Mitsui Fudosan Co. Ltd.		1,100		24,421
Mitsui Fudosan Logistics Park, Inc. REIT		3		13,675
Mitsui OSK Lines Ltd.		700		56,766
Miura Co. Ltd.		557		15,161
Mizuho Financial Group, Inc.		3,180		42,105
MonotaRO Co. Ltd.		200		3,733
Mori Hills REIT Investment Corp. REIT		11		13,180
Morinaga & Co. Ltd.		300		9,742
Morinaga Milk Industry Co. Ltd.		900		45,010
MS&AD Insurance Group Holdings, Inc.		900		30,514
Murata Manufacturing Co. Ltd.		517		34,954
Nabtesco Corp.		700		19,206
Nagase & Co. Ltd.		4,165		66,394
Nankai Electric Railway Co. Ltd.		418		8,489
NEC Corp.		100		4,302
NEC Networks & System Integration Corp.		1,000		15,246
NGK Insulators Ltd.		4,877		75,373
NGK Spark Plug Co. Ltd.		602		10,809
NH Foods Ltd.		500		18,754
NHK Spring Co. Ltd.		3,000		23,807
Nichirei Corp.		800		17,594
Nidec Corp.		72		6,178
Nifco, Inc.		1,061		30,123
Nihon Kohden Corp.		900		24,302
Nihon M&A Center Holdings, Inc.		700		10,107
Nihon Unisys Ltd.		300		8,140
Nikon Corp.		600		6,215
Nintendo Co. Ltd.		50		25,188
Nippon Accommodations Fund, Inc. REIT (b)		4		21,012
Nippon Building Fund, Inc. REIT		6		34,278
Nippon Electric Glass Co. Ltd.		2,100		50,360
Nippon Express Holdings, Inc.		1,836		111,268
Nippon Kayaku Co. Ltd.		7,800		76,933
Nippon Prologis REIT, Inc. REIT		9		26,373
Nippon Sanso Holdings Corp.		959		18,668
Nippon Shinyaku Co. Ltd.		200		12,937
Nippon Shokubai Co. Ltd.		300		14,587


	Number of Shares		Value
Japan (Continued)
Nippon Steel Corp.		4,613	$	84,450
Nippon Telegraph & Telephone Corp.		3,291		94,094
Nippon Television Holdings, Inc.		700		8,004
Nippon Yusen KK		1,200		111,170
Nissan Chemical Corp.		783		44,189
Nissan Motor Co. Ltd.*		14,300		67,704
Nisshin Seifun Group, Inc.		3,878		54,883
Nissin Foods Holdings Co. Ltd.		384		30,573
Nitori Holdings Co. Ltd.		232		34,737
Nitto Denko Corp.		3,143		227,862
Noevir Holdings Co. Ltd.		200		8,978
NOF Corp.		2,807		121,371
NOK Corp.		1,000		10,419
Nomura Holdings, Inc.		5,000		22,848
Nomura Real Estate Holdings, Inc.		886		22,039
Nomura Real Estate Master Fund, Inc. REIT (b)		35		46,130
Nomura Research Institute Ltd.		430		14,840
NS Solutions Corp.		300		9,468
NSK Ltd.		556		3,592
NTT Data Corp.		1,917		36,168
Obayashi Corp.		3,862		32,224
Obic Co. Ltd.		200		31,795
Odakyu Electric Railway Co. Ltd.		209		3,437
Oji Holdings Corp.		24,388		124,296
OKUMA Corp.		100		4,050
Omron Corp.		500		33,688
Ono Pharmaceutical Co. Ltd.		477		11,706
Open House Group Co. Ltd.		545		24,606
ORIX Corp.		9,936		196,951
Orix JREIT, Inc. REIT (b)		40		55,880
Osaka Gas Co. Ltd.		10,129		185,475
OSG Corp.		900		14,964
Otsuka Corp.		608		23,412
Otsuka Holdings Co. Ltd.		1,534		52,783
PALTAC Corp.		382		14,759
Pan Pacific International Holdings Corp.		999		16,307
Panasonic Corp.		8,072		83,401
Penta-Ocean Construction Co. Ltd.		4,420		23,141
Persol Holdings Co. Ltd.		2,629		58,298
Pigeon Corp.		100		1,839
Pola Orbis Holdings, Inc.		500		7,797
Rakuten Group, Inc.		515		4,355
Recruit Holdings Co. Ltd.		326		13,640
Relo Group, Inc.		200		2,969
Rengo Co. Ltd.		7,912		59,078
Resona Holdings, Inc.		7,800		35,067
Resorttrust, Inc.		200		3,372
Ricoh Co. Ltd.		10,200		86,701
Rinnai Corp.		817		66,821
Rohm Co. Ltd.		214		16,778
Rohto Pharmaceutical Co. Ltd.		511		17,104
Sankyo Co. Ltd.		509		14,164
Sankyu, Inc.		1,000		34,600
Santen Pharmaceutical Co. Ltd.		300		3,397
Sanwa Holdings Corp.		10,300		114,469
Sapporo Holdings Ltd.		600		11,862


	Number of Shares		Value
Japan (Continued)
Sawai Group Holdings Co. Ltd.		800	$	31,708
SCREEN Holdings Co. Ltd. (b)		200		19,310
SCSK Corp.		600		10,200
Secom Co. Ltd.		635		46,433
Seiko Epson Corp.		4,651		71,194
Seino Holdings Co. Ltd.		2,700		28,178
Sekisui Chemical Co. Ltd.		4,501		73,509
Sekisui House Ltd.		10,036		204,423
Sekisui House Reit, Inc. REIT		50		33,167
Seven & i Holdings Co. Ltd. (b)		4,900		237,863
Seven Bank Ltd.		7,800		16,660
SG Holdings Co. Ltd.		3,944		83,280
Shikoku Electric Power Co., Inc.		3,600		27,756
Shimadzu Corp.		3,896		138,859
Shimamura Co. Ltd.		800		72,168
Shimano, Inc.		400		92,312
Shimizu Corp.		4,746		31,358
Shin-Etsu Chemical Co. Ltd.		300		46,026
Shinko Electric Industries Co. Ltd.		300		12,555
Shinsei Bank Ltd.		500		9,403
Shionogi & Co. Ltd.		1,600		106,148
Ship Healthcare Holdings, Inc.		338		6,679
Shizuoka Bank Ltd.		1,100		8,166
SHO-BOND Holdings Co. Ltd.		449		19,999
Skylark Holdings Co. Ltd.*		600		7,851
SMC Corp.		67		39,586
SMS Co. Ltd.		300		8,036
SoftBank Corp.		5,405		68,070
Sohgo Security Services Co. Ltd.		887		31,883
Sojitz Corp.		8,120		133,953
Sompo Holdings, Inc.		2,600		113,323
Sony Group Corp.		608		62,344
Square Enix Holdings Co. Ltd.		300		14,482
Stanley Electric Co. Ltd.		831		19,676
Subaru Corp.		3,564		58,593
Sugi Holdings Co. Ltd.		1,235		69,698
Sumitomo Bakelite Co. Ltd.		1,400		57,799
Sumitomo Chemical Co. Ltd. (b)		60,500		288,908
Sumitomo Corp.		6,232		101,400
Sumitomo Dainippon Pharma Co. Ltd.		900		9,869
Sumitomo Electric Industries Ltd.		5,726		75,692
Sumitomo Forestry Co. Ltd.		883		16,959
Sumitomo Heavy Industries Ltd.		3,049		73,727
Sumitomo Metal Mining Co. Ltd.		1,069		53,332
Sumitomo Mitsui Financial Group, Inc.		700		25,046
Sumitomo Mitsui Trust Holdings, Inc.		800		28,548
Sumitomo Realty & Development Co. Ltd.		771		22,666
Sumitomo Rubber Industries Ltd.		14,500		139,870
Sundrug Co. Ltd.		788		21,346
Suntory Beverage & Food Ltd.		1,174		46,889
Suzuken Co. Ltd.		384		12,369
Suzuki Motor Corp.		2,642		104,900
Sysmex Corp.		327		25,904
T&D Holdings, Inc.		2,341		34,228
Taiheiyo Cement Corp.		900		17,246
Taisei Corp.		1,534		50,811
Taisho Pharmaceutical Holdings Co. Ltd.		200		9,915


	Number of Shares		Value
Japan (Continued)
Taiyo Yuden Co. Ltd.		100	$	4,428
Takara Bio, Inc.		300		6,228
Takara Holdings, Inc.		1,100		10,897
Takashimaya Co. Ltd.		2,700		26,326
Takeda Pharmaceutical Co. Ltd.		300		9,119
TDK Corp.		330		13,180
TechnoPro Holdings, Inc.		1,087		31,192
Teijin Ltd.		4,620		55,476
Terumo Corp.		216		6,956
TIS, Inc.		1,500		35,164
Tobu Railway Co. Ltd.		200		4,906
Toda Corp.		900		6,001
Toho Co. Ltd.		859		35,688
Toho Gas Co. Ltd.		1,049		28,007
Tohoku Electric Power Co., Inc.		4,619		29,958
Tokai Rika Co. Ltd.		900		11,909
Tokio Marine Holdings, Inc.		600		34,247
Tokyo Century Corp.		100		4,376
Tokyo Electric Power Co. Holdings, Inc.*		15,704		49,358
Tokyo Electron Ltd.		100		48,422
Tokyo Gas Co. Ltd.		4,859		99,057
Tokyo Ohka Kogyo Co. Ltd.		500		31,430
Tokyo Tatemono Co. Ltd.		2,700		41,306
Tokyu Corp.		2,600		34,584
Tokyu Fudosan Holdings Corp.		3,822		21,205
TOPPAN, Inc.		8,865		173,721
Toray Industries, Inc.		24,300		139,186
Toshiba Corp.		700		27,818
Toshiba TEC Corp.		91		3,852
Tosoh Corp.		6,241		96,887
TOTO Ltd.		1,380		57,932
Toyo Seikan Group Holdings Ltd.		6,000		79,861
Toyo Suisan Kaisha Ltd.		600		25,214
Toyo Tire Corp.		600		7,913
Toyoda Gosei Co. Ltd.		584		11,054
Toyota Boshoku Corp.		1,100		20,018
Toyota Industries Corp.		398		30,202
Toyota Motor Corp.		500		9,284
Toyota Tsusho Corp.		1,823		75,421
Trend Micro, Inc.		339		18,837
TS Tech Co. Ltd.		2,658		35,678
Tsumura & Co.		300		8,309
Tsuruha Holdings, Inc.		328		26,172
TV Asahi Holdings Corp.		400		5,442
Ube Industries Ltd.		4,393		81,014
Ulvac, Inc.		200		9,829
Unicharm Corp.		877		32,895
United Urban Investment Corp. REIT		46		52,520
Ushio, Inc.		2,001		32,367
USS Co. Ltd.		1,900		31,410
Welcia Holdings Co. Ltd.		542		14,424
Yakult Honsha Co. Ltd.		900		48,682
Yamada Holdings Co. Ltd.		15,657		54,240
Yamaguchi Financial Group, Inc.		2,600		16,118
Yamaha Corp.		481		22,385
Yamaha Motor Co. Ltd.		4,700		105,120
Yamato Holdings Co. Ltd.		5,400		105,398


	Number of Shares		Value
Japan (Continued)
Yamato Kogyo Co. Ltd.		1,100	$	35,242
Yamazaki Baking Co. Ltd.		2,653		35,865
Yaoko Co. Ltd.		200		11,409
Yaskawa Electric Corp. (b)		300		11,904
Yokogawa Electric Corp.		900		14,417
Yokohama Rubber Co. Ltd.		3,300		46,044
Zenkoku Hosho Co. Ltd.		1,038		43,440
Zensho Holdings Co. Ltd.		400		9,572
Zeon Corp.		5,059		59,078

(Cost $20,866,762)				20,330,224

Jordan — 0.0%
Hikma Pharmaceuticals PLC
(Cost $24,222)		930		25,992

Luxembourg — 0.4%
Aroundtown SA		8,854		54,995
Eurofins Scientific SE		702		71,390
L’Occitane International SA		20,878		72,143
RTL Group SA		1,712		96,030
Tenaris SA		2,253		29,203

(Cost $324,056)				323,761

Netherlands — 2.6%
Aalberts NV		1,768		98,715
ABN AMRO Bank NV, 144A		556		7,408
Adyen NV, 144A*		1		2,094
Akzo Nobel NV		1,130		107,883
ASM International NV		78		25,249
ASML Holding NV		28		18,835
ASR Nederland NV		1,171		50,677
BE Semiconductor Industries NV		304		25,998
CTP NV, 144A		310		5,310
Euronext NV, 144A		449		40,774
EXOR NV		310		23,607
Heineken Holding NV		462		37,751
Heineken NV		186		18,882
IMCD NV		186		30,230
ING Groep NV		511		6,025
Koninklijke Ahold Delhaize NV		12,210		376,868
Koninklijke DSM NV		563		105,794
Koninklijke KPN NV		70,999		243,226
Koninklijke Philips NV		1,458		49,686
Koninklijke Vopak NV		207		7,682
NN Group NV		2,476		118,973
QIAGEN NV*		766		38,545
Randstad NV		3,304		225,261
Signify NV, 144A		2,276		116,521
Stellantis NV		1,403		25,797
Universal Music Group NV		1,439		32,859
Wolters Kluwer NV		1,817		185,351

(Cost $1,853,280)				2,026,001

New Zealand — 1.4%
Auckland International Airport Ltd.*		2,628		12,663
Contact Energy Ltd.		31,152		171,187
Fisher & Paykel Healthcare Corp. Ltd.		3,821		71,137
Fletcher Building Ltd.		55,193		250,631


	Number of Shares		Value
New Zealand (Continued)
Infratil Ltd.		4,135	$	22,247
Kiwi Property Group Ltd.		85,825		62,729
Mainfreight Ltd.		3,969		213,243
Mercury NZ Ltd.		11,527		44,621
Meridian Energy Ltd.		10,419		35,220
Ryman Healthcare Ltd.		3,840		25,987
SKYCITY Entertainment Group Ltd.		8,900		17,828
Spark New Zealand Ltd.		44,464		135,560
Xero Ltd.*		394		26,798

(Cost $1,099,366)				1,089,851

Norway — 1.3%
Aker BP ASA		472		14,680
Equinor ASA		181		5,731
Gjensidige Forsikring ASA		1,758		43,562
Leroy Seafood Group ASA		5,025		43,886
Mowi ASA		2,597		66,862
Norsk Hydro ASA		22,726		215,950
Orkla ASA		6,567		61,640
Salmar ASA		528		38,980
Telenor ASA		6,976		103,486
TOMRA Systems ASA		1,548		73,090
Yara International ASA		6,564		334,409

(Cost $861,863)				1,002,276

Poland — 0.5%
Allegro.eu SA, 144A* (b)		1,338		10,031
Bank Polska Kasa Opieki SA		299		8,262
Cyfrowy Polsat SA		14,914		97,038
Dino Polska SA, 144A*		393		27,731
InPost SA*		1,717		10,642
KGHM Polska Miedz SA		1,445		57,165
LPP SA		2		4,138
Polski Koncern Naftowy ORLEN SA		1,494		25,377
Polskie Gornictwo Naftowe i Gazownictwo SA		84,405		112,338
Powszechna Kasa Oszczednosci Bank Polski SA*		831		8,011
Powszechny Zaklad Ubezpieczen SA		6,509		49,072
Santander Bank Polska SA		199		14,970

(Cost $495,522)				424,775

Portugal — 0.3%
EDP—Energias de Portugal SA		11,173		54,766
Galp Energia SGPS SA		773		8,559
Jeronimo Martins SGPS SA		6,680		145,745

(Cost $201,539)				209,070

Russia — 0.0%
Polymetal International PLC		2,320		10,932
Raspadskaya OJSC (c)		1,940		2,727

(Cost $46,518)				13,659

Singapore — 2.1%
Ascendas Real Estate Investment Trust REIT		23,936		48,844
BOC Aviation Ltd., 144A		1,544		13,387
CapitaLand Integrated Commercial Trust REIT		21,174		32,913


	Number of Shares		Value
Singapore (Continued)
ComfortDelGro Corp. Ltd.		59,744	$	62,057
DBS Group Holdings Ltd.		2,626		65,425
Frasers Logistics & Commercial Trust REIT		96,700		99,731
Genting Singapore Ltd.		64,900		36,814
Golden Agri-Resources Ltd.		305,600		64,161
Jardine Cycle & Carriage Ltd.		3,505		56,392
Kenon Holdings Ltd		241		13,669
Keppel REIT		18,000		15,249
Keppel Corp. Ltd.		10,562		46,607
Keppel DC REIT		11,100		17,908
Mapletree Commercial Trust REIT		13,791		18,389
Mapletree Industrial Trust REIT		9,278		17,497
Mapletree Logistics Trust REIT		46,767		60,291
NetLink NBN Trust		50,500		35,528
Olam International Ltd.		21,764		27,577
Oversea-Chinese Banking Corp. Ltd.		15,962		137,225
SATS Ltd.*		3,865		11,304
Sembcorp Industries Ltd.		9,953		18,404
SIA Engineering Co. Ltd.*		8,100		13,068
Singapore Exchange Ltd.		25,380		174,628
Singapore Post Ltd.		40,900		18,982
Singapore Press Holdings Ltd.		19,600		33,642
Singapore Technologies Engineering Ltd.		52,328		147,256
Singapore Telecommunications Ltd.		26,966		50,060
StarHub Ltd.		21,300		19,614
United Overseas Bank Ltd.		6,100		134,407
UOL Group Ltd.		3,129		16,089
Venture Corp. Ltd.		3,962		51,165
Wilmar International Ltd.		11,400		36,784

(Cost $1,572,591)				1,595,067

South Korea — 4.2%
Amorepacific Corp.		99		15,150
AMOREPACIFIC Group		96		3,896
BGF retail Co. Ltd.		107		15,084
BNK Financial Group, Inc.		5,961		39,067
Cheil Worldwide, Inc.		1,878		35,144
CJ CheilJedang Corp.		183		57,608
CJ Corp.		328		22,942
CJ Logistics Corp.*		91		9,385
Coway Co. Ltd.		328		19,669
Daewoo Engineering & Construction Co. Ltd.*		3,789		19,759
DB Insurance Co. Ltd.		1,114		57,259
DGB Financial Group, Inc.		5,162		40,700
DL E&C Co. Ltd.		305		32,597
Doosan Bobcat, Inc.		702		22,274
E-MART, Inc.		632		68,333
Fila Holdings Corp.		232		6,792
GS Engineering & Construction Corp.		1,711		60,978
GS Holdings Corp.		2,131		70,894
GS Retail Co. Ltd.		493		10,886
Hana Financial Group, Inc.		4,461		180,688
Hankook Tire & Technology Co. Ltd.		2,644		77,406
Hanon Systems		946		9,087
Hanwha Aerospace Co. Ltd.		200		8,650


	Number of Shares		Value
South Korea (Continued)
Hanwha Corp.		694	$	17,518
Hyundai Department Store Co. Ltd.		424		27,436
Hyundai Engineering & Construction Co. Ltd.		1,661		59,817
Hyundai Glovis Co. Ltd.		278		40,694
Hyundai Heavy Industries Holdings Co. Ltd.		284		12,141
Hyundai Marine & Fire Insurance Co. Ltd.		1,199		28,720
Hyundai Mobis Co. Ltd.		192		35,770
Hyundai Motor Co.		31		4,512
Hyundai Steel Co.		403		13,307
Industrial Bank of Korea		6,362		56,882
Kakao Corp.		100		7,826
KB Financial Group, Inc.		3,007		149,306
KCC Corp.		183		50,455
KEPCO Plant Service & Engineering Co. Ltd.*		744		22,895
Kia Corp.		2,376		145,838
Korea Aerospace Industries Ltd.*		801		24,716
Korea Electric Power Corp.		3,611		69,676
Korea Gas Corp.		575		19,631
Korea Investment Holdings Co. Ltd.*		104		6,851
Korea Zinc Co. Ltd.		207		94,690
KT&G Corp.		2,234		148,271
Kumho Petrochemical Co. Ltd.*		126		16,820
LG Chem Ltd.		9		4,229
LG Corp.		941		58,854
LG Display Co. Ltd.		2,030		31,572
LG Electronics, Inc.		1,387		142,466
LG Household & Health Care Ltd.		9		7,111
LG Innotek Co. Ltd.		76		20,670
LG Uplus Corp.		7,602		83,142
Lotte Chemical Corp.		60		10,978
LOTTE Fine Chemical Co. Ltd.		249		16,423
Lotte Shopping Co. Ltd.		129		9,152
LS Corp.		104		4,212
Mando Corp.		194		7,317
Mirae Asset Securities Co. Ltd.		1,432		10,469
NAVER Corp.		37		9,786
NCSoft Corp.		48		17,705
NH Investment & Securities Co. Ltd.		1,137		10,922
NongShim Co. Ltd.		78		19,916
Orion Corp.		78		5,936
Pan Ocean Co. Ltd.		1,885		10,300
POSCO		728		172,562
Posco International Corp.		1,624		27,892
S-1 Corp.		333		19,332
Samsung C&T Corp.		335		30,648
Samsung Card Co. Ltd.		298		7,968
Samsung Electro-Mechanics Co. Ltd.		287		39,624
Samsung Electronics Co. Ltd.		291		17,450
Samsung Engineering Co. Ltd.*		1,183		22,827
Samsung Fire & Marine Insurance Co. Ltd.		614		97,282
Samsung Life Insurance Co. Ltd.		351		17,457
Samsung SDI Co. Ltd.		11		5,014
Samsung SDS Co. Ltd.		107		12,459


	Number of Shares		Value
South Korea (Continued)
Samsung Securities Co. Ltd.		347	$	12,208
Shinhan Financial Group Co. Ltd.		4,492		145,891
Shinsegae, Inc.		38		8,265
SK Hynix, Inc.		504		51,769
SK Square Co. Ltd.*		572		26,546
SK Telecom Co. Ltd.		1,128		51,224
SK, Inc.		82		15,515
S-Oil Corp.		149		10,472
Woori Financial Group, Inc.		7,924		94,243

(Cost $3,076,426)				3,305,828

Spain — 1.4%
Acciona SA		407		69,989
ACS Actividades de Construccion y Servicios SA		450		11,029
Banco Bilbao Vizcaya Argentaria SA		4,190		24,896
Banco Santander SA		2,751		9,222
Bankinter SA		2,075		11,877
CaixaBank SA		4,039		13,338
Cellnex Telecom SA, 144A*		166		7,577
EDP Renovaveis SA		879		21,444
Enagas SA		3,254		69,169
Endesa SA		1,458		32,204
Ferrovial SA		827		22,683
Fluidra SA		1,271		38,830
Grifols SA (b)		940		17,965
Iberdrola SA		4,492		51,362
Industria de Diseno Textil SA		417		11,054
Mapfre SA (b)		13,755		27,215
Merlin Properties Socimi SA REIT		736		8,283
Naturgy Energy Group SA		1,742		47,017
Red Electrica Corp. SA		7,643		153,021
Repsol SA		2,801		36,576
Telefonica SA (b)		91,798		440,888

(Cost $1,157,315)				1,125,639

Sweden — 5.6%
Alfa Laval AB		4,868		159,891
Assa Abloy AB, Class B		4,723		125,904
Atlas Copco AB, Class A		919		48,140
Atlas Copco AB, Class B		424		19,438
Beijer Ref AB		869		13,231
Boliden AB		4,694		210,624
Castellum AB		4,195		94,050
Electrolux AB, Class B (b)		9,997		180,859
Elekta AB, Class B (b)		2,531		22,070
Epiroc AB, Class A		5,801		110,049
Epiroc AB, Class B		3,111		50,794
Essity AB, Class B		2,957		76,665
Fastighets AB Balder, Class B*		883		55,497
Getinge AB, Class B		6,566		257,820
Hexagon AB, Class B		6,941		94,685
Holmen AB, Class B		1,874		92,844
Husqvarna AB, Class A		982		11,924
Husqvarna AB, Class B		8,733		105,899
Industrivarden AB, Class A		4,077		113,694
Industrivarden AB, Class C		2,472		67,810
Indutrade AB		4,237		94,947


	Number of Shares		Value
Sweden (Continued)
Investment AB Latour, Class B		2,109	$	59,059
Investor AB, Class A		2,320		51,890
Investor AB, Class B		5,288		108,750
Kinnevik AB, Class B*		16,206		417,418
L E Lundbergforetagen AB, Class B		567		27,682
Lifco AB, Class B		2,309		53,039
Lundin Energy AB		1,348		49,945
Nibe Industrier AB, Class B		9,621		86,565
Saab AB, Class B		719		21,795
Sagax AB, Class B		2,795		76,996
Sagax AB, Class D		6,143		20,405
Sandvik AB		4,350		95,359
Securitas AB, Class B		10,511		128,016
Skanska AB, Class B		16,583		378,635
SKF AB, Class B		4,653		86,669
Svenska Cellulosa AB SCA, Class B		3,628		59,773
Svenska Handelsbanken AB, Class A		5,436		52,297
Sweco AB, Class B		927		13,083
Swedbank AB, Class A		728		11,841
Swedish Match AB		18,701		137,391
Swedish Orphan Biovitrum AB*		250		5,151
Tele2 AB, Class B		11,644		155,139
Telefonaktiebolaget LM Ericsson, Class B		4,902		45,653
Telia Co. AB		9,114		34,102
Trelleborg AB, Class B		5,484		111,560
Volvo AB, Class A		718		14,127
Volvo AB, Class B		1,345		26,190

(Cost $3,914,578)				4,335,365

Switzerland — 4.5%
ABB Ltd.		3,426		116,322
Adecco Group AG		838		39,769
Alcon, Inc.		578		44,781
Baloise Holding AG		193		32,417
Barry Callebaut AG		38		87,809
BKW AG		367		46,323
Chocoladefabriken Lindt & Spruengli AG Participation Certificates		10		106,545
Cie Financiere Richemont SA		867		118,221
Clariant AG*		1,305		23,591
Coca-Cola HBC AG*		2,275		58,119
DKSH Holding AG		1,199		102,656
EMS-Chemie Holding AG		46		45,551
Flughafen Zurich AG*		57		10,251
Geberit AG		369		241,884
Georg Fischer AG		90		111,341
Givaudan SA		10		41,975
Helvetia Holding AG		288		35,096
Holcim Ltd.*		2,313		116,198
Julius Baer Group Ltd.		182		10,673
Kuehne + Nagel International AG		402		110,156
Logitech International SA		2,775		208,401
Lonza Group AG		48		33,348
Medmix AG, 144A*		142		5,256
Nestle SA		62		8,095
OC Oerlikon Corp. AG		4,668		41,722
Partners Group Holding AG		114		154,887


	Number of Shares		Value
Switzerland (Continued)
PSP Swiss Property AG		476	$	61,637
Roche Holding AG		36		13,728
Schindler Holding AG		112		25,270
Schindler Holding AG Participation Certificates		186		42,879
SGS SA		37		106,267
SIG Combibloc Group AG*		4,094		92,282
Sika AG		357		119,071
Sonova Holding AG		415		161,486
STMicroelectronics NV		295		12,571
Straumann Holding AG		48		76,359
Sulzer AG		139		11,749
Swatch Group AG — Bearer		187		58,111
Swatch Group AG — Registered		579		34,584
Swiss Life Holding AG		136		83,072
Swiss Prime Site AG		1,649		162,033
Swiss Re AG		307		29,387
Swisscom AG		185		111,026
Tecan Group AG		193		83,683
Temenos AG		159		16,052
UBS Group AG		3,415		62,851
VAT Group AG, 144A		262		99,494
Vifor Pharma AG		158		27,753
Zurich Insurance Group AG		110		50,549

(Cost $3,116,373)				3,493,281

United Kingdom — 10.9%
3i Group PLC		15,076		270,148
abrdn PLC		43,513		120,679
Admiral Group PLC		5,529		220,850
Amcor PLC CDI		14,889		171,355
Anglo American PLC		959		49,192
Ashmore Group PLC		6,889		23,293
Ashtead Group PLC		992		64,900
Associated British Foods PLC		563		14,504
AstraZeneca PLC		90		10,939
Auto Trader Group PLC, 144A		6,000		53,375
Aviva PLC		22,418		126,273
B&M European Value Retail SA		50,112		407,058
BAE Systems PLC		17,755		171,429
Barclays PLC		7,512		18,433
Barratt Developments PLC		1,281		10,502
Berkeley Group Holdings PLC		1,764		92,212
British American Tobacco PLC		1,489		65,160
BT Group PLC (b)		126,292		315,605
Bunzl PLC		3,771		150,224
Burberry Group PLC		1,961		51,045
Centrica PLC*		14,972		15,525
CNH Industrial NV		4,445		64,030
ConvaTec Group PLC, 144A		7,451		18,020
Croda International PLC		114		11,448
Dechra Pharmaceuticals PLC		1,233		68,127
Diageo PLC		1,223		61,126
Direct Line Insurance Group PLC		31,229		124,070
Dr. Martens PLC		4,279		16,282
DS Smith PLC		27,954		129,250
Electrocomponents PLC		6,792		90,175


	Number of Shares		Value
United Kingdom (Continued)
Evraz PLC		4,559	$	8,854
Ferguson PLC		1,510		231,273
GlaxoSmithKline PLC		2,410		49,972
Halma PLC		4,642		150,167
Hargreaves Lansdown PLC		1,550		23,594
Howden Joinery Group PLC		9,456		108,251
HSBC Holdings PLC		2,176		15,025
IMI PLC		7,621		149,599
Imperial Brands PLC		13,397		294,617
InterContinental Hotels Group PLC*		106		7,447
Intermediate Capital Group PLC		404		9,291
Intertek Group PLC		496		35,831
ITV PLC*		47,495		70,513
J Sainsbury PLC		102,642		379,694
Johnson Matthey PLC		6,374		161,040
Kingfisher PLC		30,997		127,349
Legal & General Group PLC		12,613		46,912
Lloyds Banking Group PLC		53,733		34,920
Mondi PLC		7,021		148,042
National Grid PLC		9,993		151,619
Next PLC		576		53,033
Pearson PLC		12,939		112,499
Pennon Group PLC		5,234		73,036
Persimmon PLC		2,543		82,333
Phoenix Group Holdings PLC		1,870		15,521
Prudential PLC		656		10,003
Quilter PLC, 144A		6,121		10,652
Reckitt Benckiser Group PLC		188		15,945
RELX PLC		2,180		66,720
Renishaw PLC		163		10,275
Rentokil Initial PLC		6,658		45,364
Rightmove PLC		9,777		88,234
Rio Tinto PLC		1,147		89,123
Royal Mail PLC		45,317		238,778
Sage Group PLC		8,523		80,370
Schroders PLC		1,065		43,783
Segro PLC REIT		23,314		407,130
Severn Trent PLC		3,246		125,259
Smith & Nephew PLC		1,994		35,771
Smiths Group PLC		1,612		33,071
Spirax-Sarco Engineering PLC		961		154,022
SSE PLC		21,075		481,988
St James’s Place PLC		2,108		39,697
Standard Chartered PLC		1,639		11,717
Tate & Lyle PLC		12,429		125,608
Tesco PLC		85,496		332,385
Travis Perkins PLC		993		19,472
Unilever PLC		181		9,099
United Utilities Group PLC		13,962		201,292
Vodafone Group PLC		104,337		184,008
WPP PLC		3,134		44,468

(Cost $8,073,416)				8,449,895

United States — 0.2%
Sims Ltd.		4,093		54,085
Waste Connections, Inc.		874		107,842

(Cost $138,039)				161,927

TOTAL COMMON STOCKS (Cost $74,057,039)				77,244,198


	Number of Shares		Value
PREFERRED STOCKS — 0.3%
Germany — 0.2%
FUCHS PETROLUB SE		769	$	30,663
Henkel AG & Co. KGaA		286		22,756
Porsche Automobil Holding SE		1,237		126,269
Sartorius AG		11		4,870

(Cost $167,144)				184,558

South Korea — 0.1%
Hanwha Corp.		1,820		23,160
LG Electronics, Inc.		142		7,039
Mirae Asset Securities Co. Ltd.		2,364		8,798

(Cost $37,674)				38,997

TOTAL PREFERRED STOCKS (Cost $204,818)				223,555

WARRANTS — 0.0%
Switzerland — 0.0%
Cie Financiere Richemont SA*, expires 11/22/23 (Cost $0)		826		730

SECURITIES LENDING COLLATERAL — 1.3%
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (d) (e) (Cost $967,655)		967,655		967,655

CASH EQUIVALENTS — 0.0%
DWS Government Money Market Series “Institutional Shares”, 0.04% (d) (Cost $15,752)		15,752		15,752


TOTAL INVESTMENTS — 100.9% (Cost $75,245,264)			$	78,451,890
Other assets and liabilities, net — (0.9%)				(689,283	)

NET ASSETS — 100.0%			$	77,762,607

A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:

For information on the Fund’s policy and additional disclosures regarding open futures contracts, please refer to the Derivatives section of Note 2 in the accompanying Notes to Financial Statements.

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.

The following is a summary of the inputs used as of February 28, 2022 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.


	Number of Shares		Value
COMMON STOCKS — 99.7%
Argentina — 0.1%
MercadoLibre, Inc.* (Cost $343,960)		305	$	343,628

Australia — 2.2%
Ampol Ltd.		950		20,316
APA Group (a)		7,272		53,033
Aristocrat Leisure Ltd.		4,338		117,321
ASX Ltd.		1,422		84,954
Aurizon Holdings Ltd.		10,414		26,449
Australia & New Zealand Banking Group Ltd.		19,476		367,593
BHP Group Ltd.		33,774		1,143,548
BlueScope Steel Ltd.		2,081		30,564
Brambles Ltd.		9,594		68,923
Cochlear Ltd.		330		53,377
Coles Group Ltd.		8,448		106,545
Commonwealth Bank of Australia		11,685		792,468
Computershare Ltd.		4,529		71,185
Crown Resorts Ltd.*		3,296		29,610
CSL Ltd.		3,194		602,563
Dexus REIT		7,672		60,794
Domino’s Pizza Enterprises Ltd.		400		22,916
Endeavour Group Ltd.		8,796		45,701
Evolution Mining Ltd.		11,669		36,157
Fortescue Metals Group Ltd.		11,475		151,132
Goodman Group REIT		11,117		179,331
GPT Group REIT		14,163		50,770
IDP Education Ltd.		1,516		28,888
Insurance Australia Group Ltd.		15,582		52,013
Lendlease Corp. Ltd. (a)		4,770		36,552
Macquarie Group Ltd.		2,195		287,947
Medibank Pvt Ltd.		19,918		45,962
Mineral Resources Ltd.		1,187		38,976
Mirvac Group REIT		28,130		52,868
National Australia Bank Ltd.		22,313		468,580
Newcrest Mining Ltd.		5,396		100,514
Northern Star Resources Ltd.		7,497		56,088
Orica Ltd.		3,370		35,679
Origin Energy Ltd.		12,729		52,650
Qantas Airways Ltd.*		5,321		19,576
QBE Insurance Group Ltd.		10,139		84,536
Ramsay Health Care Ltd.		1,297		60,207
REA Group Ltd.		387		36,979
Reece Ltd.		811		11,399
Rio Tinto Ltd.		2,490		213,518
Santos Ltd.		22,606		119,093
Scentre Group REIT		33,824		75,351
SEEK Ltd.		2,355		45,577
Sonic Healthcare Ltd.		3,158		80,321
South32 Ltd.		35,530		124,013
Stockland REIT		19,076		57,585
Suncorp Group Ltd.		6,950		54,316
Tabcorp Holdings Ltd.		17,904		64,830
Telstra Corp. Ltd.		24,317		69,877
Transurban Group (a)		21,393		196,997
Treasury Wine Estates Ltd.		5,684		47,928
Vicinity Centres REIT		32,926		43,007


	Number of Shares		Value
Australia (Continued)
Washington H Soul Pattinson & Co. Ltd.		1,473	$	26,914
Wesfarmers Ltd.		7,243		253,281
Westpac Banking Corp.		24,966		413,239
WiseTech Global Ltd.		927		29,315
Woodside Petroleum Ltd.		7,135		147,766
Woolworths Group Ltd.		8,763		225,676

(Cost $7,187,859)				7,873,268

Austria — 0.1%
Erste Group Bank AG		2,309		82,965
OMV AG		738		35,130
Raiffeisen Bank International AG		1,104		18,191
Verbund AG		352		42,700
voestalpine AG		664		21,956

(Cost $186,238)				200,942

Belgium — 0.3%
Ageas SA/NV		1,023		49,385
Anheuser-Busch InBev SA/NV		5,933		367,450
Elia Group SA/NV		230		33,222
Etablissements Franz Colruyt NV		383		15,349
Groupe Bruxelles Lambert SA		677		70,672
KBC Group NV		1,656		120,009
Proximus SADP		1,028		20,507
Sofina SA		121		47,187
Solvay SA		555		62,163
UCB SA		919		100,848
Umicore SA		1,100		45,331

(Cost $925,135)				932,123

Bermuda — 0.1%
Arch Capital Group Ltd.*		2,761		130,071
Everest Re Group Ltd.		292		87,080

(Cost $161,593)				217,151

Canada — 3.8%
Agnico Eagle Mines Ltd.		3,045		153,720
Air Canada*		1,013		19,128
Algonquin Power & Utilities Corp.		4,511		65,228
Alimentation Couche-Tard, Inc.		5,763		226,049
AltaGas Ltd.		1,504		33,107
Ballard Power Systems, Inc.*		1,657		18,943
Bank of Montreal		4,502		513,718
Bank of Nova Scotia		8,180		592,370
Barrick Gold Corp.		12,266		277,069
BCE, Inc.		906		47,552
BlackBerry Ltd.*		3,819		26,196
Brookfield Asset Management, Inc., Class A		9,517		519,764
CAE, Inc. *		1,927		51,519
Cameco Corp.		2,789		68,540
Canadian Apartment Properties REIT		587		24,418
Canadian Imperial Bank of Commerce		2,997		379,082
Canadian National Railway Co.		4,828		598,537
Canadian Natural Resources Ltd.		8,075		450,815
Canadian Pacific Railway Ltd.		6,234		438,668
Canadian Tire Corp. Ltd., Class A		397		58,491
Canadian Utilities Ltd., Class A		858		23,879


	Number of Shares		Value
Canada (Continued)
Canopy Growth Corp.*(b)		1,566	$	11,161
CCL Industries, Inc., Class B		1,033		46,537
Cenovus Energy, Inc.		8,625		135,527
CGI, Inc.*		1,561		127,898
Constellation Software, Inc.		141		237,473
Dollarama, Inc.		2,048		105,763
Emera, Inc.		1,825		85,325
Empire Co. Ltd., Class A		1,657		51,290
Enbridge, Inc.		13,835		597,315
Fairfax Financial Holdings Ltd.		168		81,387
First Quantum Minerals Ltd.		4,329		126,865
FirstService Corp.		216		30,729
Fortis, Inc.		2,959		135,498
Franco-Nevada Corp.		1,261		185,578
George Weston Ltd.		561		60,791
GFL Environmental, Inc.		1,134		33,134
Gildan Activewear, Inc.		1,472		57,750
Great-West Lifeco, Inc.		1,580		47,499
Hydro One Ltd., 144A		2,375		58,610
iA Financial Corp., Inc.		491		29,154
IGM Financial, Inc.		735		26,095
Imperial Oil Ltd.		1,779		79,795
Intact Financial Corp.		1,109		158,951
Ivanhoe Mines Ltd., Class A*		4,066		41,354
Keyera Corp.		1,384		32,397
Kinross Gold Corp.		9,071		45,199
Lightspeed Commerce, Inc.*		830		21,791
Loblaw Cos. Ltd.		1,028		80,134
Lululemon Athletica, Inc.*		772		246,994
Lundin Mining Corp.		4,081		39,351
Magna International, Inc.		1,838		136,464
Manulife Financial Corp.		13,002		263,249
Metro, Inc.		1,477		77,044
National Bank of Canada		2,285		183,092
Northland Power, Inc.		1,734		55,095
Nutrien Ltd.		3,955		339,918
Nuvei Corp., 144A*		406		22,026
Onex Corp.		470		31,542
Open Text Corp.		1,568		68,192
Pan American Silver Corp.		1,246		29,452
Parkland Corp.		1,118		29,238
Pembina Pipeline Corp.		3,363		114,279
Power Corp. of Canada		3,938		121,367
Quebecor, Inc., Class B		1,051		22,970
Restaurant Brands International, Inc.		1,726		96,550
RioCan Real Estate Investment Trust REIT		1,044		20,677
Ritchie Bros Auctioneers, Inc.		560		29,330
Rogers Communications, Inc., Class B		2,129		109,929
Royal Bank of Canada		9,439		1,043,436
Saputo, Inc.		1,547		37,884
Shaw Communications, Inc., Class B		3,011		90,234
Shopify, Inc., Class A*		749		519,620
Sun Life Financial, Inc.		3,878		203,814
Suncor Energy, Inc.		9,840		300,704
TC Energy Corp.		6,727		361,185
Teck Resources Ltd., Class B		3,335		120,006
TELUS Corp.		2,374		59,914


	Number of Shares		Value
Canada (Continued)
TFI International, Inc.		574	$	59,792
Thomson Reuters Corp.		1,207		121,961
TMX Group Ltd.		393		39,673
Toromont Industries Ltd.		340		28,801
Toronto-Dominion Bank		12,124		977,682
Tourmaline Oil Corp.		2,075		81,799
West Fraser Timber Co. Ltd.		576		57,457
Wheaton Precious Metals Corp.		2,942		128,828
WSP Global, Inc.		865		106,056

(Cost $11,259,988)				13,693,398

Chile — 0.0%
Antofagasta PLC (Cost $45,665 )		2,644		53,959

Denmark — 0.8%
A.P. Moller — Maersk A/S, Class A		21		63,103
A.P. Moller — Maersk A/S, Class B		33		104,742
Ambu A/S, Class B		1,278		23,698
Carlsberg A/S, Class B		669		98,210
Chr Hansen Holding A/S		759		55,539
Coloplast A/S, Class B		749		112,895
Danske Bank A/S		4,106		69,874
Demant A/S*		626		26,458
DSV A/S		1,377		255,125
Genmab A/S*		402		135,365
GN Store Nord AS		836		44,246
Novo Nordisk A/S, Class B		11,320		1,165,921
Novozymes A/S, Class B		1,331		87,466
Orsted AS, 144A		1,290		167,752
Pandora A/S		688		71,225
ROCKWOOL International A/S, Class B		34		11,711
Tryg A/S		3,314		75,362
Vestas Wind Systems A/S		6,927		227,499

(Cost $2,418,022)				2,796,191

Finland — 0.3%
Elisa OYJ		761		42,353
Fortum OYJ		3,181		67,313
Kesko OYJ, Class B		1,553		45,946
Kone OYJ, Class B		2,285		134,434
Neste OYJ		2,896		114,433
Nokia OYJ*		37,714		204,918
Nordea Bank Abp		21,512		240,871
Orion OYJ, Class B		744		35,089
Sampo OYJ, Class A		3,505		166,764
Stora Enso OYJ, Class R		3,357		64,741
UPM-Kymmene OYJ		3,160		110,029
Wartsila OYJ Abp		3,235		36,590

(Cost $1,295,345)				1,263,481

France — 3.3%
Accor SA*		1,277		43,876
Aeroports de Paris*		289		41,225
Air Liquide SA		3,194		533,462
Airbus SE*		3,870		499,446
Alstom SA		1,728		44,446
Amundi SA, 144A		257		18,013


	Number of Shares		Value
France (Continued)
Arkema SA		399	$	53,286
AXA SA		13,271		361,843
BioMerieux		297		32,732
BNP Paribas SA		7,459		439,926
Bollore SA		7,861		40,068
Bouygues SA		1,741		62,615
Bureau Veritas SA		2,184		62,946
Capgemini SE		1,072		226,727
Carrefour SA		4,679		94,073
Cie de Saint-Gobain		3,617		227,303
Cie Generale des Etablissements Michelin SCA		1,144		159,333
CNP Assurances		1,204		29,440
Covivio REIT		394		32,500
Credit Agricole SA		7,737		99,642
Danone SA		4,428		270,112
Dassault Aviation SA		202		30,471
Dassault Systemes SE		4,408		215,322
Edenred		1,465		67,284
Eiffage SA		602		61,747
Electricite de France SA		2,709		24,738
Engie SA		12,196		195,451
EssilorLuxottica SA		1,877		330,404
Eurazeo SE		246		19,134
Faurecia SE (b)		1,179		45,091
Gecina SA REIT		310		39,520
Getlink SE		3,272		53,804
Hermes International		221		308,298
Ipsen SA		117		13,700
Kering SA		490		350,640
Klepierre SA REIT*		1,118		32,222
La Francaise des Jeux SAEM, 144A		676		28,162
Legrand SA		1,723		164,150
L’Oreal SA		1,695		675,858
LVMH Moet Hennessy Louis Vuitton SE		1,845		1,367,514
Orange SA		14,709		178,660
Orpea SA		455		18,929
Pernod Ricard SA		1,394		306,337
Publicis Groupe SA		1,467		98,271
Remy Cointreau SA		74		14,354
Renault SA*		1,727		55,361
Safran SA		2,165		278,919
Sanofi		7,667		804,924
Sartorius Stedim Biotech		192		74,056
Schneider Electric SE		3,544		556,411
SEB SA		129		18,937
Societe Generale SA		5,244		151,021
Sodexo SA		460		38,802
Teleperformance		398		148,370
Thales SA		526		60,794
TotalEnergies SE (b)		16,810		860,785
Ubisoft Entertainment SA*		462		25,090
Unibail-Rodamco-Westfield REIT*		760		57,945
Valeo		1,477		32,823
Veolia Environnement SA		4,120		144,427
Vinci SA		3,518		373,488
Vivendi SE		4,701		59,719
Wendel SE		215		21,987


	Number of Shares		Value
France (Continued)
Worldline SA, 144A*		1,559	$	80,383

(Cost $10,685,801)				11,857,317

Germany — 2.4%
adidas AG		1,286		306,293
Allianz SE		2,827		645,536
BASF SE		6,124		407,550
Bayer AG		6,641		384,222
Bayerische Motoren Werke AG		2,260		219,727
Bechtle AG		495		25,603
Beiersdorf AG		506		51,389
Brenntag SE		895		75,274
Carl Zeiss Meditec AG		214		33,855
Commerzbank AG*		7,133		60,361
Continental AG*		607		52,361
Covestro AG, 144A		1,287		68,245
Daimler Truck Holding AG*		2,884		88,044
Delivery Hero SE, 144A*		1,044		56,063
Deutsche Bank AG*(c)		13,614		172,180
Deutsche Boerse AG		1,240		212,676
Deutsche Lufthansa AG*		3,513		27,123
Deutsche Post AG		6,763		343,045
Deutsche Telekom AG		22,682		408,387
E.ON SE		14,252		193,983
Evonik Industries AG		1,011		30,535
Fresenius Medical Care AG & Co. KGaA		1,298		83,568
Fresenius SE & Co. KGaA		2,620		92,006
GEA Group AG		1,384		60,735
Hannover Rueck SE		480		88,850
HeidelbergCement AG		1,028		67,131
HelloFresh SE*		1,026		56,330
Henkel AG & Co. KGaA		664		51,162
Infineon Technologies AG		8,850		305,615
KION Group AG		567		45,955
Knorr-Bremse AG		390		34,606
LANXESS AG		741		36,271
LEG Immobilien SE		390		50,507
Mercedes-Benz Group AG		5,769		454,684
Merck KGaA		847		168,912
MTU Aero Engines AG		386		93,735
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen		921		255,669
Nemetschek SE		332		29,623
Puma SE		665		61,233
Rational AG		34		25,128
RWE AG		4,300		200,387
SAP SE		6,909		786,263
Scout24 SE, 144A		329		19,290
Siemens AG		5,123		728,821
Siemens Energy AG		2,644		63,642
Siemens Healthineers AG, 144A		1,929		124,539
Symrise AG		919		109,932
Telefonica Deutschland Holding AG		6,863		18,847
Uniper SE		549		17,574
United Internet AG		923		31,475
Volkswagen AG		221		58,383
Vonovia SE		5,004		266,974


	Number of Shares		Value
Germany (Continued)
Zalando SE, 144A*		1,391	$	93,086

(Cost $9,119,430)				8,443,385

Hong Kong — 0.8%
AIA Group Ltd.		79,005		821,526
BOC Hong Kong Holdings Ltd.		22,672		81,534
Budweiser Brewing Co. APAC Ltd., 144A		13,083		40,603
Chow Tai Fook Jewellery Group Ltd.*		14,080		29,264
CK Asset Holdings Ltd.		13,614		85,984
CK Hutchison Holdings Ltd.		17,528		122,817
CK Infrastructure Holdings Ltd.		6,759		41,954
CLP Holdings Ltd.		10,691		108,843
ESR Cayman Ltd., 144A*		17,220		53,222
Futu Holdings Ltd., ADR* (b)		405		17,314
Galaxy Entertainment Group Ltd.*		13,381		74,408
Hang Lung Properties Ltd.		18,097		37,937
Hang Seng Bank Ltd.		4,523		83,471
Henderson Land Development Co. Ltd.		11,292		46,968
HK Electric Investments & HK Electric Investments Ltd. (a)		27,944		27,573
HKT Trust & HKT Ltd. (a)		20,575		27,754
Hong Kong & China Gas Co. Ltd.		65,041		98,389
Hong Kong Exchanges & Clearing Ltd.		8,240		398,201
Hongkong Land Holdings Ltd.		4,800		25,872
Jardine Matheson Holdings Ltd.		1,251		74,435
Link REIT		13,211		106,686
Melco Resorts & Entertainment Ltd., ADR*		1,597		16,002
MTR Corp. Ltd.		11,118		57,556
New World Development Co. Ltd.		4,589		18,353
Power Assets Holdings Ltd.		7,383		46,535
Sino Land Co. Ltd.		33,033		41,557
SITC International Holdings Co. Ltd.		9,779		40,174
Sun Hung Kai Properties Ltd.		9,427		109,668
Swire Pacific Ltd., Class A		3,986		22,038
Swire Properties Ltd.		8,517		22,127
Techtronic Industries Co. Ltd.		9,250		154,488
WH Group Ltd., 144A		69,798		48,684
Wharf Real Estate Investment Co. Ltd.		9,055		40,618
Xinyi Glass Holdings Ltd.		10,844		28,797

(Cost $3,202,259)				3,051,352

Ireland — 1.1%
Accenture PLC, Class A		4,256		1,344,981
AerCap Holdings NV*		900		48,987
Allegion PLC		673		77,072
Aptiv PLC*		1,863		241,147
CRH PLC		5,476		249,778
DCC PLC		669		52,601
Experian PLC		6,024		237,066
Flutter Entertainment PLC*		1,020		146,931
James Hardie Industries PLC CDI		2,807		90,948
Jazz Pharmaceuticals PLC*		389		53,456
Kerry Group PLC, Class A		993		118,449
Kingspan Group PLC		1,159		113,047
Medtronic PLC		8,882		932,521
Smurfit Kappa Group PLC		1,381		69,165


	Number of Shares		Value
Ireland (Continued)
Trane Technologies PLC		1,647	$	253,523

(Cost $3,758,688)				4,029,672

Israel — 0.3%
Azrieli Group Ltd.		304		25,986
Bank Hapoalim BM		6,517		68,902
Bank Leumi Le-Israel BM		9,309		100,715
Check Point Software Technologies Ltd.*		752		108,950
CyberArk Software Ltd.*		239		40,663
Elbit Systems Ltd.		288		59,029
Fiverr International Ltd.*		216		17,045
ICL Group Ltd.		4,868		55,279
Inmode Ltd.*		345		14,728
Israel Discount Bank Ltd., Class A		7,898		51,940
Kornit Digital Ltd.*		317		30,061
Mizrahi Tefahot Bank Ltd.		1,200		46,833
Nice Ltd.*		463		104,821
SolarEdge Technologies, Inc.*		310		99,020
Teva Pharmaceutical Industries Ltd., ADR*		7,822		63,593
Wix.com Ltd.*		387		35,441

(Cost $825,263)				923,006

Italy — 0.6%
Amplifon SpA		761		32,865
Assicurazioni Generali SpA		8,076		160,828
Atlantia SpA*		2,734		50,392
Davide Campari-Milano NV		3,512		38,453
DiaSorin SpA		193		28,972
Enel SpA		54,604		404,725
Eni SpA		17,021		264,440
Ferrari NV		847		183,373
FinecoBank Banca Fineco SpA		3,367		56,444
Infrastrutture Wireless Italiane SpA, 144A		1,838		18,811
Intesa Sanpaolo SpA		110,796		285,417
Mediobanca Banca di Credito Finanziario SpA		3,594		37,647
Moncler SpA		1,382		84,102
Nexi SpA, 144A*		2,464		33,958
Poste Italiane SpA, 144A		4,676		53,965
Prysmian SpA		1,928		63,927
Recordati Industria Chimica e Farmaceutica SpA		829		40,747
Snam SpA		16,484		91,926
Telecom Italia SpA		33,584		14,255
Terna — Rete Elettrica Nazionale		8,243		67,976
UniCredit SpA		15,207		194,513

(Cost $2,078,190)				2,207,736

Jersey — 0.0%
Novocure Ltd.* (b) (Cost $80,326)		577		47,233

Jordan — 0.0%
Hikma Pharmaceuticals PLC (Cost $43,942)		1,282		35,830

Luxembourg — 0.1%
ArcelorMittal SA		4,854		151,048


	Number of Shares		Value
Luxembourg (Continued)
Aroundtown SA		6,866	$	42,647
Eurofins Scientific SE		929		94,474
Tenaris SA		3,153		40,868

(Cost $252,930)				329,037

Macau — 0.0%
Sands China Ltd.* (Cost $74,187)		16,680		43,655

Netherlands — 1.5%
ABN AMRO Bank NV, 144A		1,839		24,502
Adyen NV, 144A*		131		274,326
Aegon NV		15,741		78,059
Akzo Nobel NV		1,208		115,330
Argenx SE*		313		90,035
ASM International NV		309		100,025
ASML Holding NV		2,769		1,862,664
Euronext NV, 144A		759		68,925
EXOR NV		845		64,349
Heineken Holding NV		618		50,499
Heineken NV		1,850		187,803
IMCD NV		411		66,799
ING Groep NV		27,223		320,996
JDE Peet’s NV		483		15,882
Just Eat Takeaway.com NV, 144A*		1,203		48,941
Koninklijke Ahold Delhaize NV		7,320		225,936
Koninklijke DSM NV		1,102		207,078
Koninklijke KPN NV		23,931		81,982
Koninklijke Philips NV		6,222		212,033
NN Group NV		2,122		101,963
NXP Semiconductors NV		1,791		340,505
Prosus NV*		6,293		391,725
QIAGEN NV*		1,836		92,386
Randstad NV		927		63,201
Stellantis NV		13,439		247,100
Universal Music Group NV		4,701		107,346
Wolters Kluwer NV		1,745		178,006

(Cost $5,085,788)				5,618,396

New Zealand — 0.1%
Auckland International Airport Ltd.*		10,128		48,801
Fisher & Paykel Healthcare Corp. Ltd.		3,476		64,714
Mercury NZ Ltd.		5,584		21,616
Meridian Energy Ltd.		4,240		14,333
Ryman Healthcare Ltd.		2,265		15,329
Spark New Zealand Ltd.		14,256		43,463
Xero Ltd.*		1,011		68,763

(Cost $337,046)				277,019

Norway — 0.2%
Adevinta ASA*		1,115		11,977
Aker BP ASA		750		23,326
DNB Bank ASA		6,129		137,375
Equinor ASA		6,318		200,059
Gjensidige Forsikring ASA		1,130		28,001
Mowi ASA		2,734		70,389
Norsk Hydro ASA		10,513		99,898
Orkla ASA		5,569		52,273
Schibsted ASA, Class A		551		15,865


	Number of Shares		Value
Norway (Continued)
Schibsted ASA, Class B (d)		624	$	16,193
Telenor ASA		5,040		74,766
Yara International ASA		919		46,819

(Cost $606,147)				776,941

Poland — 0.0%
InPost SA* (Cost $27,327)		1,403		8,696

Portugal — 0.0%
EDP—Energias de Portugal SA		19,738		96,748
Galp Energia SGPS SA		2,465		27,294
Jeronimo Martins SGPS SA		2,217		48,371

(Cost $171,113)				172,413

Singapore — 0.4%
Ascendas Real Estate Investment Trust REIT		21,479		43,830
CapitaLand Integrated Commercial Trust REIT		22,456		34,905
Capitaland Investment Ltd.*		10,302		28,004
City Developments Ltd.		3,300		17,309
DBS Group Holdings Ltd.		12,207		304,130
Genting Singapore Ltd.		62,700		35,566
Grab Holdings Ltd., Class A*		8,008		46,126
Keppel Corp. Ltd.		9,800		43,244
Mapletree Commercial Trust REIT		14,100		18,801
Mapletree Logistics Trust REIT		12,728		16,409
Oversea-Chinese Banking Corp. Ltd.		22,285		191,584
Sea Ltd., ADR*		2,218		322,941
Singapore Airlines Ltd.* (b)		4,050		15,186
Singapore Exchange Ltd.		2,931		20,167
Singapore Technologies Engineering Ltd.		10,502		29,554
Singapore Telecommunications Ltd.		51,300		95,234
United Overseas Bank Ltd.		8,401		185,107
UOL Group Ltd.		2,801		14,403
Venture Corp. Ltd.		2,056		26,551
Wilmar International Ltd.		12,900		41,624

(Cost $1,500,357)				1,530,675

Spain — 0.7%
ACS Actividades de Construccion y Servicios SA		1,404		34,410
Aena SME SA, 144A*		481		79,040
Amadeus IT Group SA*		2,779		187,095
Banco Bilbao Vizcaya Argentaria SA		41,679		247,645
Banco Santander SA		118,583		397,513
CaixaBank SA		24,226		79,999
Cellnex Telecom SA, 144A*		3,312		151,183
EDP Renovaveis SA		1,855		45,254
Enagas SA		1,748		37,157
Endesa SA		2,109		46,583
Ferrovial SA		3,793		104,037
Grifols SA (b)		2,285		43,669
Iberdrola SA		38,405		439,130
Industria de Diseno Textil SA		7,312		193,823
Naturgy Energy Group SA		1,288		34,764
Red Electrica Corp. SA		2,632		52,695


	Number of Shares		Value
Spain (Continued)
Repsol SA		10,029	$	130,962
Siemens Gamesa Renewable Energy SA*		1,297		30,199
Telefonica SA		35,234		169,222

(Cost $2,458,367)				2,504,380

Sweden — 1.0%
Alfa Laval AB		2,192		71,997
Assa Abloy AB, Class B		6,593		175,754
Atlas Copco AB, Class A		4,564		239,075
Atlas Copco AB, Class B		2,635		120,803
Boliden AB		1,332		59,768
Electrolux AB, Class B (b)		1,477		26,721
Embracer Group AB*		2,591		22,511
Epiroc AB, Class A		4,594		87,152
Epiroc AB, Class B		2,975		48,574
EQT AB		2,015		68,510
Essity AB, Class B		4,454		115,477
Evolution AB, 144A		1,116		130,162
Fastighets AB Balder, Class B*		865		54,366
Getinge AB, Class B		1,603		62,943
H & M Hennes & Mauritz AB, Class B		5,512		93,710
Hexagon AB, Class B		12,800		174,610
Husqvarna AB, Class B		2,237		27,126
Industrivarden AB, Class A		995		27,747
Industrivarden AB, Class C		1,115		30,586
Investment AB Latour, Class B		841		23,551
Investor AB, Class A		3,397		75,979
Investor AB, Class B		12,384		254,681
Kinnevik AB, Class B*		1,656		42,654
L E Lundbergforetagen AB, Class B		404		19,725
Lifco AB, Class B		1,732		39,785
Lundin Energy AB		1,657		61,394
Nibe Industrier AB, Class B		10,436		93,898
Sagax AB, Class B		1,243		34,242
Sandvik AB		7,214		158,142
Securitas AB, Class B		1,373		16,722
Sinch AB, 144A*		3,390		29,151
Skandinaviska Enskilda Banken AB, Class A		9,708		112,836
Skanska AB, Class B		1,833		41,852
SKF AB, Class B		2,107		39,246
Svenska Cellulosa AB SCA, Class B		3,826		63,036
Svenska Handelsbanken AB, Class A		9,153		88,056
Swedbank AB, Class A		6,204		100,913
Swedish Match AB		11,139		81,835
Tele2 AB, Class B		3,605		48,031
Telefonaktiebolaget LM Ericsson, Class B		20,310		189,151
Telia Co. AB		16,753		62,685
Volvo AB, Class A		1,098		21,604
Volvo AB, Class B		9,305		181,186

(Cost $3,702,254)				3,517,947

Switzerland — 3.5%
ABB Ltd.		10,899		370,052
Adecco Group AG		933		44,278
Alcon, Inc.		3,514		272,249


	Number of Shares		Value
Switzerland (Continued)
Bachem Holding AG		41	$	24,400
Baloise Holding AG		299		50,222
Barry Callebaut AG		29		67,012
Chocoladefabriken Lindt & Spruengli AG		1		112,813
Chocoladefabriken Lindt & Spruengli AG Participation Certificates		8		85,236
Chubb Ltd.		2,892		588,927
Cie Financiere Richemont SA		3,527		480,928
Clariant AG*		1,090		19,704
Coca-Cola HBC AG*		1,024		26,160
Credit Suisse Group AG		17,372		146,861
EMS-Chemie Holding AG		46		45,551
Garmin Ltd.		1,125		124,245
Geberit AG		228		149,457
Givaudan SA		62		260,245
Glencore PLC*		68,531		406,564
Holcim Ltd.*		3,174		159,452
Julius Baer Group Ltd.		1,312		76,937
Kuehne + Nagel International AG		394		107,964
Logitech International SA		1,101		82,684
Lonza Group AG		484		336,260
Nestle SA		18,958		2,475,110
Novartis AG		14,698		1,287,086
Partners Group Holding AG		162		220,102
Roche Holding AG		4,697		1,791,101
Roche Holding AG		228		95,529
Schindler Holding AG		57		12,861
Schindler Holding AG Participation Certificates		273		62,935
SGS SA		41		117,756
Sika AG		988		329,531
Sonova Holding AG		386		150,201
STMicroelectronics NV		4,526		192,872
Straumann Holding AG		71		112,948
Swatch Group AG — Bearer		188		58,421
Swatch Group AG — Registered		494		29,507
Swiss Life Holding AG		193		117,889
Swiss Prime Site AG		470		46,183
Swiss Re AG		2,019		193,262
Swisscom AG		190		114,027
Temenos AG		393		39,675
UBS Group AG		24,428		449,580
VAT Group AG, 144A		177		67,215
Vifor Pharma AG		264		46,372
Zurich Insurance Group AG		964		442,991

(Cost $11,218,676)				12,491,355

United Kingdom — 4.8%
3i Group PLC		5,981		107,174
abrdn PLC		11,210		31,090
Admiral Group PLC		1,380		55,123
Amcor PLC		10,957		127,430
Anglo American PLC		8,429		432,367
Ashtead Group PLC		3,145		205,758
Associated British Foods PLC		2,734		70,432
AstraZeneca PLC		10,416		1,266,056
Auto Trader Group PLC, 144A		6,823		60,696
AVEVA Group PLC		662		22,117


	Number of Shares		Value
United Kingdom (Continued)
Aviva PLC		24,437	$	137,646
BAE Systems PLC		23,536		227,246
Barclays PLC		119,870		294,136
Barratt Developments PLC		6,318		51,796
Berkeley Group Holdings PLC		760		39,729
BP PLC		129,952		633,897
British American Tobacco PLC		14,465		633,006
British Land Co. PLC REIT		6,041		42,927
BT Group PLC		64,470		161,111
Bunzl PLC		2,555		101,782
Burberry Group PLC		2,375		61,821
Clarivate PLC*		2,358		35,323
CNH Industrial NV		6,325		91,112
Coca-Cola Europacific Partners PLC		1,303		66,727
Compass Group PLC		11,666		265,159
Croda International PLC		942		94,592
Diageo PLC		15,866		792,986
Entain PLC*		4,011		90,629
Ferguson PLC		1,476		226,065
GlaxoSmithKline PLC		33,696		698,700
Halma PLC		2,378		76,927
Hargreaves Lansdown PLC		2,264		34,463
HSBC Holdings PLC		134,906		931,478
Imperial Brands PLC		7,113		156,424
Informa PLC*		8,586		68,476
InterContinental Hotels Group PLC*		1,297		91,119
Intertek Group PLC		813		58,731
J Sainsbury PLC		12,019		44,461
JD Sports Fashion PLC		21,182		42,916
Johnson Matthey PLC		1,567		39,590
Kingfisher PLC		11,474		47,140
Land Securities Group PLC REIT		3,379		36,007
Legal & General Group PLC		38,078		141,625
Liberty Global PLC, Class A*		1,756		45,270
Liberty Global PLC, Class C*		1,851		47,885
Linde PLC		3,454		1,012,851
Lloyds Banking Group PLC		488,562		317,505
London Stock Exchange Group PLC		2,075		183,029
M&G PLC		18,684		51,593
Melrose Industries PLC		28,579		56,848
Mondi PLC		3,653		77,026
National Grid PLC		24,952		378,585
NatWest Group PLC		42,135		129,860
Next PLC		698		64,265
Ocado Group PLC*		3,339		61,512
Pearson PLC		5,307		46,142
Pentair PLC		1,106		64,048
Persimmon PLC		2,106		68,185
Phoenix Group Holdings PLC		3,070		25,481
Prudential PLC		17,396		265,271
Reckitt Benckiser Group PLC		4,822		408,964
RELX PLC		12,664		387,586
Rentokil Initial PLC		13,981		95,258
Rio Tinto PLC		7,802		606,221
Rolls-Royce Holdings PLC*		57,818		80,293
Sage Group PLC		6,051		57,060
Schroders PLC		533		21,912


	Number of Shares		Value
United Kingdom (Continued)
Segro PLC REIT		8,073	$	140,978
Severn Trent PLC		1,836		70,849
Shell PLC		52,541		1,390,199
Smith & Nephew PLC		6,550		117,502
Smiths Group PLC		2,984		61,218
Spirax-Sarco Engineering PLC		426		68,276
SSE PLC		6,649		152,064
St James’s Place PLC		3,660		68,923
Standard Chartered PLC		16,237		116,076
Taylor Wimpey PLC		21,521		43,386
Tesco PLC		53,967		209,809
Unilever PLC		17,566		883,020
United Utilities Group PLC		4,325		62,354
Vodafone Group PLC		193,523		341,297
Whitbread PLC*		1,378		54,063
Willis Towers Watson PLC		824		183,175
WPP PLC		8,211		116,506

(Cost $15,151,147)				17,526,335

United States — 71.2%
10X Genomics, Inc., Class A* (b)		398		32,425
3M Co.		3,942		585,978
A O Smith Corp.		589		40,394
Abbott Laboratories		11,938		1,439,962
AbbVie, Inc.		11,839		1,749,449
ABIOMED, Inc.*		292		90,736
Activision Blizzard, Inc.		5,238		426,897
Adobe, Inc.*		3,204		1,498,447
Advance Auto Parts, Inc.		481		98,355
Advanced Micro Devices, Inc.*		11,142		1,374,254
AES Corp.		4,593		97,509
Affirm Holdings, Inc.* (b)		594		24,853
Aflac, Inc.		4,469		273,011
Agilent Technologies, Inc.		1,893		246,771
AGNC Investment Corp. REIT		3,993		51,550
Air Products and Chemicals, Inc.		1,477		349,015
Airbnb, Inc., Class A*		1,989		301,314
Akamai Technologies, Inc.*		970		105,012
Albemarle Corp.		828		162,197
Alexandria Real Estate Equities, Inc. REIT		928		175,763
Align Technology, Inc.*		490		250,615
Alleghany Corp.*		78		51,630
Alliant Energy Corp.		1,730		101,032
Allstate Corp.		2,092		255,977
Ally Financial, Inc.		2,109		105,239
Alnylam Pharmaceuticals, Inc.*		736		116,178
Alphabet, Inc., Class A*		2,016		5,445,498
Alphabet, Inc., Class C*		1,929		5,204,095
Altria Group, Inc.		12,203		625,892
Amazon.com, Inc.*		3,064		9,410,341
AMC Entertainment Holdings, Inc., Class A*(b)		3,388		63,898
AMERCO		63		36,389
Ameren Corp.		1,813		155,827
American Electric Power Co., Inc.		3,250		294,612
American Express Co.		4,440		863,758
American Financial Group, Inc.		490		66,341
American International Group, Inc.		5,760		352,742


	Number of Shares		Value
United States (Continued)
American Tower Corp. REIT		3,099	$	703,070
American Water Works Co., Inc.		1,278		193,093
Ameriprise Financial, Inc.		749		224,543
AmerisourceBergen Corp.		1,021		145,523
AMETEK, Inc.		1,682		218,307
Amgen, Inc.		3,810		862,889
Amphenol Corp., Class A		4,135		314,301
Analog Devices, Inc.		3,644		584,097
Annaly Capital Management, Inc. REIT		9,789		68,131
ANSYS, Inc.*		570		184,788
Anthem, Inc.		1,600		722,960
Aon PLC, Class A		1,555		454,278
Apollo Global Management, Inc.		2,291		149,511
Apple, Inc.		110,058		18,172,777
Applied Materials, Inc.		5,998		804,932
Aramark		1,458		53,888
Archer-Daniels-Midland Co.		3,709		290,971
Arista Networks, Inc.*		1,522		186,795
Arrow Electronics, Inc.*		582		70,934
Arthur J Gallagher & Co.		1,393		220,359
Asana, Inc., Class A* (b)		449		24,601
Assurant, Inc.		391		66,357
AT&T, Inc.		47,905		1,134,869
Atmos Energy Corp.		1,050		115,300
Autodesk, Inc.*		1,423		313,387
Automatic Data Processing, Inc.		2,800		572,432
AutoZone, Inc.*		144		268,328
Avalara, Inc.*		593		61,619
AvalonBay Communities, Inc. REIT		913		217,833
Avantor, Inc.*		3,315		114,997
Avery Dennison Corp.		601		105,896
Baker Hughes Co.		5,199		152,747
Ball Corp.		2,379		213,491
Bank of America Corp.		49,504		2,188,077
Bank of New York Mellon Corp.		5,161		274,307
Bath & Body Works, Inc.		1,916		102,257
Bausch Health Cos., Inc.*		2,380		57,213
Baxter International, Inc.		3,346		284,310
Becton Dickinson and Co.		1,900		515,432
Bentley Systems, Inc., Class B		1,204		46,222
Berkshire Hathaway, Inc., Class B*		8,735		2,807,866
Best Buy Co., Inc.		1,550		149,792
Bill.com Holdings, Inc.*		503		119,654
Biogen, Inc.*		1,015		214,175
BioMarin Pharmaceutical, Inc.*		1,083		84,604
Bio-Rad Laboratories, Inc., Class A*		131		82,001
Bio-Techne Corp.		244		102,336
Black Knight, Inc.*		846		47,537
BlackRock, Inc.		1,015		755,048
Blackstone, Inc.		4,495		572,978
Block, Inc.*		2,816		359,040
Block, Inc. CDI*		572		64,461
Boeing Co.*		3,718		763,454
Booking Holdings, Inc.*		277		601,713
Booz Allen Hamilton Holding Corp.		1,033		83,353
BorgWarner, Inc.		1,366		56,020
Boston Properties, Inc. REIT		932		113,993


	Number of Shares		Value
United States (Continued)
Boston Scientific Corp.*		9,683	$	427,698
Bristol-Myers Squibb Co.		15,082		1,035,681
Broadcom, Inc.		2,737		1,607,823
Broadridge Financial Solutions, Inc.		747		109,219
Brookfield Renewable Corp., Class A		567		21,234
Brown & Brown, Inc.		1,712		115,748
Brown-Forman Corp., Class B		1,831		119,436
Bunge Ltd.		1,025		107,164
Burlington Stores, Inc.*		391		88,323
C.H. Robinson Worldwide, Inc.		837		80,921
Cable One, Inc.		36		51,583
Cadence Design Systems, Inc.*		1,940		293,774
Caesars Entertainment, Inc.*		1,393		117,277
Camden Property Trust REIT		658		108,642
Campbell Soup Co.		810		36,426
Capital One Financial Corp.		2,985		457,511
Cardinal Health, Inc.		2,191		118,336
Carlyle Group, Inc.		1,241		58,166
CarMax, Inc.*		1,029		112,501
Carnival Corp.*		5,494		111,693
Carrier Global Corp.		5,284		237,146
Carvana Co.*		487		73,279
Catalent, Inc.*		1,032		105,305
Caterpillar, Inc.		3,679		690,107
Cboe Global Markets, Inc.		745		87,381
CBRE Group, Inc., Class A*		2,362		228,760
CDW Corp.		886		152,800
Celanese Corp.		722		100,560
Centene Corp.*		3,784		312,634
CenterPoint Energy, Inc.		3,708		101,414
Ceridian HCM Holding, Inc.*		850		61,973
Cerner Corp.		1,919		178,947
CF Industries Holdings, Inc.		1,371		111,311
Charles River Laboratories International, Inc.*		315		91,715
Charles Schwab Corp.		9,543		806,002
Charter Communications, Inc., Class A*		865		520,540
Cheniere Energy, Inc.		1,717		228,189
Chevron Corp.		12,905		1,858,320
Chewy, Inc., Class A* (b)		472		22,250
Chipotle Mexican Grill, Inc.*		192		292,483
Church & Dwight Co., Inc.		1,525		149,221
Cigna Corp.		2,287		543,803
Cincinnati Financial Corp.		873		107,196
Cintas Corp.		608		228,195
Cisco Systems, Inc.		28,380		1,582,753
Citigroup, Inc.		13,232		783,731
Citizens Financial Group, Inc.		2,633		138,022
Citrix Systems, Inc.		921		94,402
Clorox Co.		915		133,398
Cloudflare, Inc., Class A*		1,588		184,875
CME Group, Inc.		2,413		570,747
CMS Energy Corp.		2,007		128,468
Coca-Cola Co.		27,503		1,711,787
Cognex Corp.		993		67,087
Cognizant Technology Solutions Corp., Class A		3,655		314,805


	Number of Shares		Value
United States (Continued)
Coinbase Global, Inc., Class A*		258	$	49,219
Colgate-Palmolive Co.		5,235		402,833
Comcast Corp., Class A		30,829		1,441,564
Conagra Brands, Inc.		2,703		94,524
ConocoPhillips		9,024		856,017
Consolidated Edison, Inc.		2,539		217,770
Constellation Brands, Inc., Class A		1,079		232,654
Constellation Energy Corp.		2,245		103,225
Cooper Cos., Inc.		360		147,247
Copart, Inc.*		1,410		173,261
Corning, Inc.		5,502		222,281
Corteva, Inc.		4,633		241,055
CoStar Group, Inc.*		2,781		169,669
Costco Wholesale Corp.		2,958		1,535,941
Coterra Energy, Inc.		5,040		117,583
Coupa Software, Inc.*		474		57,359
Crowdstrike Holdings, Inc., Class A*		1,287		251,235
Crown Castle International Corp. REIT		2,892		481,778
Crown Holdings, Inc.		876		107,459
CSX Corp.		15,068		510,956
Cummins, Inc.		913		186,362
CVS Health Corp.		8,794		911,498
D.R. Horton, Inc.		2,272		194,029
Danaher Corp.		4,335		1,189,567
Darden Restaurants, Inc.		836		121,404
Datadog, Inc., Class A*		1,467		236,348
DaVita, Inc.*		433		48,829
Deere & Co.		2,009		723,280
Dell Technologies, Inc., Class C*		1,690		86,122
Delta Air Lines, Inc.*		606		24,191
DENTSPLY SIRONA, Inc.		1,408		76,229
Devon Energy Corp.		4,151		247,192
Dexcom, Inc.*		669		276,906
Diamondback Energy, Inc.		1,182		163,234
Digital Realty Trust, Inc. REIT		2,007		270,784
Discover Financial Services		2,105		259,841
Discovery, Inc., Class A*		1,239		34,754
Discovery, Inc., Class C*		1,882		52,640
DISH Network Corp., Class A*		1,734		55,419
DocuSign, Inc.*		1,299		153,841
Dollar General Corp.		1,621		321,509
Dollar Tree, Inc.*		1,552		220,508
Dominion Energy, Inc.		5,628		447,595
Domino’s Pizza, Inc.		236		102,002
DoorDash, Inc., Class A*		730		76,613
Dover Corp.		1,006		157,801
Dow, Inc.		4,831		284,836
DraftKings, Inc., Class A*(b)		2,175		51,504
Dropbox, Inc., Class A*		1,730		39,254
DTE Energy Co.		1,372		166,821
Duke Energy Corp.		5,223		524,441
Duke Realty Corp. REIT		2,819		149,407
DuPont de Nemours, Inc.		3,439		266,075
Dynatrace, Inc.*		1,458		64,764
Eastman Chemical Co.		938		111,125
Eaton Corp. PLC		2,559		394,828
eBay, Inc.		4,529		247,238
Ecolab, Inc.		1,734		305,635


	Number of Shares		Value
United States (Continued)
Edison International		2,555	$	162,038
Edwards Lifesciences Corp.*		4,306		483,865
Elanco Animal Health, Inc.*		2,638		74,946
Electronic Arts, Inc.		1,914		248,992
Eli Lilly & Co.		5,498		1,374,225
Emerson Electric Co.		3,935		365,640
Enphase Energy, Inc.*		916		152,697
Entegris, Inc.		864		112,735
Entergy Corp.		1,366		143,717
EOG Resources, Inc.		4,043		464,622
EPAM Systems, Inc.*		385		79,984
Equifax, Inc.		798		174,235
Equinix, Inc. REIT		587		416,611
Equitable Holdings, Inc.		2,642		86,288
Equity LifeStyle Properties, Inc. REIT		1,284		95,812
Equity Residential REIT		2,389		203,782
Erie Indemnity Co., Class A		119		20,837
Essential Utilities, Inc.		1,458		68,686
Essex Property Trust, Inc. REIT		455		144,312
Estee Lauder Cos., Inc., Class A		1,548		458,719
Etsy, Inc.*		826		127,939
Evergy, Inc.		1,320		82,381
Eversource Energy		2,195		179,551
Exact Sciences Corp.*		1,118		87,271
Exelon Corp.		6,736		286,684
Expedia Group, Inc.*		926		181,598
Expeditors International of Washington, Inc.		1,092		112,869
Extra Space Storage, Inc. REIT		865		162,750
Exxon Mobil Corp.		28,466		2,232,304
F5, Inc.*		388		77,930
FactSet Research Systems, Inc.		291		118,172
Fair Isaac Corp.*		192		90,468
Fastenal Co.		3,625		186,542
FedEx Corp.		1,748		388,528
Fidelity National Financial, Inc.		1,614		76,891
Fidelity National Information Services, Inc.		4,146		394,824
Fifth Third Bancorp		4,930		235,851
First Citizens BancShares, Inc., Class A		79		62,288
First Republic Bank		1,211		209,818
FirstEnergy Corp.		3,882		162,462
Fiserv, Inc.*		4,065		397,029
FleetCor Technologies, Inc.*		581		136,070
FMC Corp.		1,025		120,181
Ford Motor Co.		26,773		470,134
Fortinet, Inc.*		942		324,538
Fortive Corp.		2,410		156,047
Fortune Brands Home & Security, Inc.		939		81,599
Fox Corp., Class A		1,830		76,549
Fox Corp., Class B		624		23,874
Franklin Resources, Inc.		2,099		62,403
Freeport-McMoRan, Inc.		9,977		468,420
Gartner, Inc.*		540		151,427
Generac Holdings, Inc.*		399		125,873
General Dynamics Corp.		1,555		364,570
General Electric Co.		7,347		701,712


	Number of Shares		Value
United States (Continued)
General Mills, Inc.		4,309	$	290,556
General Motors Co.*		8,568		400,297
Genuine Parts Co.		1,032		126,069
Gilead Sciences, Inc.		8,351		504,400
Global Payments, Inc.		2,010		268,094
Globe Life, Inc.		675		68,148
GoDaddy, Inc., Class A*		1,284		107,098
Goldman Sachs Group, Inc.		2,217		756,640
Guidewire Software, Inc.*		563		49,628
Halliburton Co.		5,976		200,375
Hartford Financial Services Group, Inc.		2,150		149,382
Hasbro, Inc.		842		81,716
HCA Healthcare, Inc.		1,773		443,800
Healthpeak Properties, Inc. REIT		3,846		119,457
HEICO Corp. (b)		217		32,010
HEICO Corp., Class A		557		68,466
Henry Schein, Inc. *		841		72,646
Hershey Co.		1,025		207,316
Hess Corp.		1,824		184,333
Hewlett Packard Enterprise Co.		9,551		152,052
Hilton Worldwide Holdings, Inc.*		1,805		268,692
Hologic, Inc.*		1,806		128,533
Home Depot, Inc.		7,011		2,214,284
Honeywell International, Inc.		4,678		887,650
Horizon Therapeutics PLC*		1,440		131,285
Hormel Foods Corp.		2,095		99,806
Host Hotels & Resorts, Inc. REIT*		5,598		102,275
Howmet Aerospace, Inc.		2,708		97,271
HP, Inc.		7,862		270,138
HubSpot, Inc.*		292		153,300
Humana, Inc.		897		389,585
Huntington Bancshares, Inc.		10,046		155,914
Huntington Ingalls Industries, Inc.		292		59,685
IAC/InterActiveCorp*		559		64,151
IDEX Corp.		576		110,534
IDEXX Laboratories, Inc.*		576		306,634
Illinois Tool Works, Inc.		2,158		466,862
Illumina, Inc.*		1,028		335,745
Incyte Corp.*		1,277		87,219
Ingersoll Rand, Inc.		2,728		137,819
Insulet Corp.*		480		127,051
Intel Corp.		26,962		1,286,087
Intercontinental Exchange, Inc.		3,708		475,069
International Business Machines Corp.		6,075		744,248
International Flavors & Fragrances, Inc.		1,685		224,105
International Paper Co.		2,462		107,171
Interpublic Group of Cos., Inc.		3,016		110,989
Intuit, Inc.		1,823		864,776
Intuitive Surgical, Inc.*		2,371		688,372
Invesco Ltd.		2,734		58,070
Invitation Homes, Inc. REIT		4,135		156,303
IPG Photonics Corp.*		274		35,716
IQVIA Holdings, Inc.*		1,294		297,775
Iron Mountain, Inc. REIT		1,702		83,704
J M Smucker Co.		842		113,459
Jack Henry & Associates, Inc.		438		77,438
Jacobs Engineering Group, Inc.		930		114,390


	Number of Shares		Value
United States (Continued)
JB Hunt Transport Services, Inc.		543	$	110,191
Johnson & Johnson		17,621		2,899,888
Johnson Controls International PLC		4,863		315,900
JPMorgan Chase & Co.		19,849		2,814,588
Juniper Networks, Inc.		1,832		61,903
Kellogg Co.		1,563		99,938
Keurig Dr Pepper, Inc.		4,971		192,229
KeyCorp		6,786		170,125
Keysight Technologies, Inc.*		1,303		205,053
Kimberly-Clark Corp.		2,285		297,393
Kimco Realty Corp. REIT		4,536		106,732
Kinder Morgan, Inc.		13,953		242,782
KKR & Co., Inc.		3,606		216,793
KLA Corp.		1,028		358,258
Knight-Swift Transportation Holdings, Inc.		1,030		56,114
Kraft Heinz Co.		4,284		168,018
Kroger Co.		4,870		227,916
L3Harris Technologies, Inc.		1,370		345,665
Laboratory Corp. of America Holdings*		669		181,473
Lam Research Corp.		964		541,141
Las Vegas Sands Corp.*		2,464		105,607
Lear Corp.		385		60,576
Leidos Holdings, Inc.		746		75,973
Lennar Corp., Class A		1,829		164,390
Lennox International, Inc.		207		55,254
Liberty Broadband Corp., Class A*		135		19,549
Liberty Broadband Corp., Class C*		965		141,565
Liberty Media Corp.-Liberty Formula One, Class C*		1,454		88,301
Liberty Media Corp-Liberty SiriusXM, Class A*		575		28,957
Liberty Media Corp-Liberty SiriusXM, Class C*		1,208		60,787
Lincoln National Corp.		1,294		87,241
Live Nation Entertainment, Inc.*		1,122		135,560
LKQ Corp.		2,009		94,323
Lockheed Martin Corp.		1,661		720,542
Loews Corp.		1,644		100,843
Lowe’s Cos., Inc.		4,586		1,013,781
Lucid Group, Inc.* (b)		2,700		78,246
Lumen Technologies, Inc. (b)		5,406		56,006
Lyft, Inc., Class A*		1,816		70,715
LyondellBasell Industries NV, Class A		1,862		181,042
M&T Bank Corp.		838		152,709
Marathon Petroleum Corp.		4,322		336,554
Markel Corp.*		82		101,919
MarketAxess Holdings, Inc.		288		109,852
Marriott International, Inc., Class A*		1,750		297,745
Marsh & McLennan Cos., Inc.		3,308		514,096
Martin Marietta Materials, Inc.		454		172,248
Marvell Technology, Inc.		5,489		375,063
Masco Corp.		1,516		84,957
Masimo Corp.*		364		57,312
Mastercard, Inc., Class A		5,921		2,136,415
Match Group, Inc.*		1,833		204,361
McCormick & Co., Inc.		1,513		143,992


	Number of Shares		Value
United States (Continued)
McDonald’s Corp.		5,027	$	1,230,459
McKesson Corp.		1,001		275,235
Medical Properties Trust, Inc. REIT		4,054		82,458
Merck & Co., Inc.		16,777		1,284,783
Meta Platforms, Inc., Class A*		15,954		3,366,773
MetLife, Inc.		5,135		346,869
Mettler-Toledo International, Inc.*		162		228,216
MGM Resorts International		2,435		107,846
Microchip Technology, Inc.		3,556		250,093
Micron Technology, Inc.		7,631		678,091
Microsoft Corp.		47,849		14,296,803
Mid-America Apartment Communities, Inc. REIT		752		153,867
Moderna, Inc.*		2,285		350,976
Mohawk Industries, Inc.*		399		56,171
Molina Healthcare, Inc.*		398		122,134
Molson Coors Beverage Co., Class B		1,196		62,407
Mondelez International, Inc., Class A		9,425		617,149
MongoDB, Inc.*		399		152,414
Monolithic Power Systems, Inc.		276		126,601
Monster Beverage Corp.*		2,574		217,246
Moody’s Corp.		1,106		356,165
Morgan Stanley		9,184		833,356
Mosaic Co.		2,554		133,906
Motorola Solutions, Inc.		1,118		246,441
MSCI, Inc.		524		262,886
Nasdaq, Inc.		832		142,397
NetApp, Inc.		1,547		121,254
Netflix, Inc.*		2,952		1,164,623
Neurocrine Biosciences, Inc.*		676		60,752
Newell Brands, Inc.		1,946		46,217
Newmont Corp.		5,506		364,497
News Corp., Class A		2,709		60,465
NextEra Energy, Inc.		13,107		1,025,885
NIKE, Inc., Class B		8,540		1,166,137
NiSource, Inc.		1,861		53,839
Nordson Corp.		376		85,160
Norfolk Southern Corp.		1,654		424,284
Northern Trust Corp.		1,429		162,763
Northrop Grumman Corp.		1,028		454,520
NortonLifeLock, Inc.		3,629		105,168
Novavax, Inc.* (b)		495		41,268
NRG Energy, Inc.		1,642		62,133
Nuance Communications, Inc.*		2,038		113,150
Nucor Corp.		1,926		253,500
NVIDIA Corp.		16,709		4,074,490
NVR, Inc.*		22		109,086
Occidental Petroleum Corp.		5,809		254,028
Okta, Inc.*		1,068		195,273
Old Dominion Freight Line, Inc.		672		211,028
Omnicom Group, Inc.		1,368		114,761
ON Semiconductor Corp.*		2,997		187,642
ONEOK, Inc.		2,913		190,219
Oracle Corp.		11,218		852,231
O’Reilly Automotive, Inc.*		445		288,912
Otis Worldwide Corp.		2,744		214,938
Owens Corning		549		51,161


	Number of Shares		Value
United States (Continued)
PACCAR, Inc.		2,285	$	209,786
Packaging Corp. of America		577		84,929
Palantir Technologies, Inc., Class A*		11,819		140,055
Palo Alto Networks, Inc.*		668		396,959
Paramount Global, Class B		4,237		129,695
Parker-Hannifin Corp.		876		259,638
Paychex, Inc.		2,190		260,741
Paycom Software, Inc.*		322		109,226
PayPal Holdings, Inc.*		7,510		840,594
Peloton Interactive, Inc., Class A*		1,666		48,414
PepsiCo, Inc.		9,183		1,503,624
PerkinElmer, Inc.		767		137,761
Pfizer, Inc.		37,675		1,768,464
PG&E Corp.* (b)		10,167		115,599
Philip Morris International, Inc.		10,330		1,044,053
Phillips 66		2,896		243,959
Pinterest, Inc., Class A*		3,552		95,016
Pioneer Natural Resources Co.		1,552		371,859
Plug Power, Inc.* (b)		3,261		82,471
PNC Financial Services Group, Inc.		2,786		555,110
Pool Corp.		280		128,402
PPG Industries, Inc.		1,482		197,773
PPL Corp.		4,561		119,361
Principal Financial Group, Inc.		1,747		123,408
Procter & Gamble Co.		16,182		2,522,612
Progressive Corp.		3,961		419,589
Prologis, Inc. REIT		4,872		710,581
Prudential Financial, Inc.		2,398		267,761
PTC, Inc.*		608		67,658
Public Service Enterprise Group, Inc.		3,234		209,660
Public Storage REIT		1,099		390,167
PulteGroup, Inc.		1,823		90,530
Qorvo, Inc.*		656		89,728
QUALCOMM, Inc.		7,605		1,307,984
Quest Diagnostics, Inc.		848		111,317
Raymond James Financial, Inc.		1,294		141,887
Raytheon Technologies Corp.		10,056		1,032,751
Realty Income Corp. REIT		3,932		259,866
Regency Centers Corp. REIT		1,168		76,960
Regeneron Pharmaceuticals, Inc.*		699		432,234
Regions Financial Corp.		6,786		164,153
Republic Services, Inc.		1,457		175,248
ResMed, Inc.		917		226,270
RingCentral, Inc., Class A*		576		75,364
Rivian Automotive, Inc., Class A* (b)		1,155		78,032
Robert Half International, Inc.		844		101,525
Robinhood Markets, Inc., Class A* (b)		1,559		18,724
Rockwell Automation, Inc.		830		221,261
Roku, Inc.*		765		106,740
Rollins, Inc.		1,479		48,260
Roper Technologies, Inc.		711		318,684
Ross Stores, Inc.		2,461		224,911
Royal Caribbean Cruises Ltd.*		1,549		125,035
Royalty Pharma PLC, Class A		2,262		88,806
RPM International, Inc.		842		71,208
S&P Global, Inc.		2,311		868,243
salesforce.com, Inc.*		6,573		1,383,814


	Number of Shares		Value
United States (Continued)
SBA Communications Corp. REIT		692	$	209,946
Schlumberger N.V.		9,261		363,402
Seagate Technology Holdings PLC		1,276		131,632
Seagen, Inc.*		988		127,324
Sealed Air Corp.		1,106		74,246
SEI Investments Co.		767		44,931
Sempra Energy		2,172		313,246
Sensata Technologies Holding PLC*		1,033		59,821
ServiceNow, Inc.*		1,337		775,353
Sherwin-Williams Co.		1,647		433,375
Signature Bank		407		140,370
Simon Property Group, Inc. REIT		2,119		291,490
Sirius XM Holdings, Inc. (b)		5,127		31,582
Skyworks Solutions, Inc.		993		137,203
Snap, Inc., Class A*		7,135		284,972
Snap-on, Inc.		404		84,913
Snowflake, Inc., Class A*		1,415		375,909
SoFi Technologies, Inc.* (b)		3,508		40,167
Southern Co.		7,179		464,984
Southwest Airlines Co.*		1,032		45,202
Splunk, Inc.*		1,118		132,036
SS&C Technologies Holdings, Inc.		1,649		123,626
Stanley Black & Decker, Inc.		1,118		181,899
Starbucks Corp.		7,851		720,643
State Street Corp.		2,562		218,615
Steel Dynamics, Inc.		1,557		109,893
STERIS PLC		669		160,560
Stryker Corp.		2,285		601,755
Sun Communities, Inc. REIT		759		137,379
Sunrun, Inc.*		1,223		33,363
SVB Financial Group*		381		230,886
Synchrony Financial		3,601		154,051
Synopsys, Inc.*		997		311,453
Sysco Corp.		3,586		312,341
T. Rowe Price Group, Inc.		1,553		224,502
Take-Two Interactive Software, Inc.*		758		122,796
Target Corp.		3,274		654,047
TE Connectivity Ltd.		2,113		300,955
Teladoc Health, Inc.*		987		74,923
Teledyne Technologies, Inc.*		312		133,967
Teleflex, Inc.		292		98,203
Teradyne, Inc.		1,114		131,363
Tesla, Inc.*		5,730		4,987,564
Texas Instruments, Inc.		6,126		1,041,359
Textron, Inc.		1,466		107,209
Thermo Fisher Scientific, Inc.		2,645		1,438,880
TJX Cos., Inc.		8,180		540,698
T-Mobile US, Inc.*		4,223		520,316
Tractor Supply Co.		763		155,492
Trade Desk, Inc., Class A*		2,761		235,569
Tradeweb Markets, Inc., Class A		663		56,010
TransDigm Group, Inc.*		326		217,308
TransUnion		1,393		126,429
Travelers Cos., Inc.		1,747		300,187
Trimble, Inc.*		1,732		120,807
Truist Financial Corp.		8,978		558,611
Twilio, Inc., Class A*		1,081		188,959


	Number of Shares		Value
United States (Continued)
Twitter, Inc.*		5,027	$	178,710
Tyler Technologies, Inc.*		291		124,624
Tyson Foods, Inc., Class A		1,860		172,348
Uber Technologies, Inc.*		9,964		359,003
UDR, Inc. REIT		1,838		100,851
UGI Corp.		1,278		49,126
Ulta Beauty, Inc.*		321		120,214
Union Pacific Corp.		4,356		1,071,358
United Parcel Service, Inc., Class B		4,864		1,023,483
United Rentals, Inc.*		487		156,629
UnitedHealth Group, Inc.		6,302		2,998,933
Unity Software, Inc.*		398		42,367
Universal Health Services, Inc., Class B		522		75,131
Upstart Holdings, Inc.*		137		21,645
US Bancorp		9,505		537,413
Vail Resorts, Inc.		290		75,559
Valero Energy Corp.		2,545		212,533
Veeva Systems, Inc., Class A*		929		212,787
Ventas, Inc. REIT		2,942		158,868
VeriSign, Inc.*		673		143,834
Verisk Analytics, Inc.		1,020		180,887
Verizon Communications, Inc.		27,659		1,484,459
Vertex Pharmaceuticals, Inc.*		1,729		397,705
VF Corp.		2,293		133,040
Viatris, Inc.		8,009		88,179
VICI Properties, Inc. REIT		3,795		106,108
Visa, Inc., Class A		11,324		2,447,343
Vistra Corp.		2,919		66,612
VMware, Inc., Class A		1,385		162,488
Vornado Realty Trust REIT		1,115		48,257
Vulcan Materials Co.		829		150,422
W.R. Berkley Corp.		832		75,130
W.W. Grainger, Inc.		299		142,641
Walgreens Boots Alliance, Inc.		4,766		219,665
Walmart, Inc.		10,325		1,395,527
Walt Disney Co.*		12,196		1,810,618
Waste Connections, Inc.		1,837		226,851
Waste Management, Inc.		2,822		407,497
Waters Corp.*		402		127,325
Wayfair, Inc., Class A* (b)		474		66,772
Webster Financial Corp.		1,203		72,433
WEC Energy Group, Inc.		1,989		180,760
Wells Fargo & Co.		26,776		1,429,035
Welltower, Inc. REIT		2,717		226,299
West Pharmaceutical Services, Inc.		506		195,862
Western Digital Corp.*		2,261		115,175
Western Union Co.		3,307		60,121
Westinghouse Air Brake Technologies Corp.		1,123		104,237
Westrock Co.		1,640		74,243
Weyerhaeuser Co. REIT		4,686		182,192
Whirlpool Corp.		388		78,093
Williams Cos., Inc.		7,563		236,571
Workday, Inc., Class A*		1,310		300,055
WP Carey, Inc. REIT		1,107		85,682
Wynn Resorts Ltd.*		669		57,882
Xcel Energy, Inc.		3,741		251,882


	Number of Shares		Value
United States (Continued)
Xylem, Inc.		1,277	$	113,589
Yum! Brands, Inc.		1,926		236,089
Zebra Technologies Corp., Class A*		342		141,362
Zendesk, Inc.*		762		88,903
Zillow Group, Inc., Class A*		412		23,595
Zillow Group, Inc., Class C*		938		53,954
Zimmer Biomet Holdings, Inc.		1,372		174,505
Zoetis, Inc.		3,104		601,090
Zoom Video Communications, Inc., Class A*		1,543		204,602
ZoomInfo Technologies, Inc.*		1,529		83,621
Zscaler, Inc.*		541		129,380

(Cost $217,048,224)				257,352,542

TOTAL COMMON STOCKS (Cost $311,251,267)				360,119,063

PREFERRED STOCKS — 0.1%
Germany — 0.1%
Bayerische Motoren Werke AG		301		24,646
FUCHS PETROLUB SE		392		15,630
Henkel AG & Co. KGaA		909		72,327
Porsche Automobil Holding SE		1,111		113,407
Sartorius AG		160		70,843


	Number of Shares		Value
Germany (Continued)
Volkswagen AG		1,202	$	240,370

(Cost $530,676)				537,223

WARRANTS — 0.0%
Switzerland — 0.0%
Cie Financiere Richemont SA*, expires 11/22/23 (Cost $0)		19,824		17,502

SECURITIES LENDING COLLATERAL — 0.1%
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (e)(f) (Cost $300,102)		300,102		300,102

CASH EQUIVALENTS — 0.0%
DWS Government Money Market Series “Institutional Shares”, 0.04% (e) (Cost $60,718)		60,718		60,718

TOTAL INVESTMENTS — 99.9% (Cost $312,142,763)			$	361,034,608
Other assets and liabilities, net — 0.1%				493,447

NET ASSETS — 100.0%			$	361,528,055

A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:

During the period ended February 28, 2022, the amount of transfers from Level 1 to Level 3 was $61,210. The investments were transferred from Level 1 to Level 3 due to the lack of observable market data due to a decrease in market activity.


	Number of Shares		Value
COMMON STOCKS — 98.4%
Communication Services — 10.6%
Activision Blizzard, Inc.		299	$	24,369
Alphabet, Inc., Class A*		139		375,458
Alphabet, Inc., Class C*		139		374,997
AT&T, Inc.		3,749		88,814
Charter Communications, Inc., Class A*		33		19,859
Discovery, Inc., Class C*		172		4,811
DISH Network Corp., Class A* (a)		80		2,557
Electronic Arts, Inc.		251		32,653
Fox Corp., Class A		292		12,214
Fox Corp., Class B		141		5,395
Interpublic Group of Cos., Inc.		348		12,806
Lumen Technologies, Inc. (a)		251		2,600
Meta Platforms, Inc., Class A*		1,589		335,327
New York Times Co., Class A		93		4,091
News Corp., Class A		151		3,370
Nexstar Media Group, Inc., Class A		20		3,701
Omnicom Group, Inc.		134		11,241
Take-Two Interactive Software, Inc.*		79		12,798
Verizon Communications, Inc.		2,938		157,682
Walt Disney Co.*		100		14,846

(Cost $1,375,246)				1,499,589

Consumer Discretionary — 13.2%
Advance Auto Parts, Inc.		86		17,585
Amazon.com, Inc.*		168		515,972
AutoNation, Inc.*		45		5,160
AutoZone, Inc.*		17		31,678
Bath & Body Works, Inc.		73		3,896
Best Buy Co., Inc.		380		36,723
Booking Holdings, Inc.*		21		45,617
BorgWarner, Inc.		122		5,003
Brunswick Corp.		65		6,209
Carnival Corp.*		258		5,245
Carter’s, Inc.		31		2,997
Chipotle Mexican Grill, Inc.*		8		12,187
Columbia Sportswear Co.		30		2,782
D.R. Horton, Inc.		210		17,934
Darden Restaurants, Inc.		93		13,505
Deckers Outdoor Corp.*		19		5,484
Dick’s Sporting Goods, Inc. (a)		107		11,235
Dollar General Corp.		271		53,750
Dollar Tree, Inc.*		237		33,673
Domino’s Pizza, Inc.		14		6,051
eBay, Inc.		870		47,493
Etsy, Inc.*		47		7,280
Expedia Group, Inc.*		61		11,963
Five Below, Inc.*		17		2,781
Floor & Decor Holdings, Inc., Class A*		45		4,303
Foot Locker, Inc.		155		4,901
Gap, Inc.		103		1,499
Garmin Ltd.		134		14,799
Gentex Corp.		280		8,476
Genuine Parts Co.		103		12,582
Grand Canyon Education, Inc.*		45		3,907
Home Depot, Inc.		688		217,291
Kohl’s Corp.		53		2,948


	Number of Shares		Value
Consumer Discretionary (Continued)
Las Vegas Sands Corp.*		79	$	3,386
Lear Corp.		31		4,878
Lennar Corp., Class A		250		22,470
LKQ Corp.		175		8,216
Lowe’s Cos., Inc.		698		154,300
Lululemon Athletica, Inc.*		38		12,158
MGM Resorts International		86		3,809
Mohawk Industries, Inc.*		58		8,165
Newell Brands, Inc.		100		2,375
NIKE, Inc., Class B		422		57,624
NVR, Inc.*		3		14,875
Ollie’s Bargain Outlet Holdings, Inc.*		46		1,986
O’Reilly Automotive, Inc.*		58		37,656
Polaris, Inc. (a)		71		8,627
Pool Corp.		17		7,796
PulteGroup, Inc.		325		16,140
Qurate Retail, Inc., Series A		277		1,526
Ralph Lauren Corp.		26		3,433
Ross Stores, Inc.		210		19,192
Royal Caribbean Cruises Ltd.*		58		4,682
Starbucks Corp.		529		48,557
Tapestry, Inc.		150		6,135
Target Corp.		706		141,038
Tempur Sealy International, Inc.		115		3,796
Thor Industries, Inc. (a)		38		3,439
TJX Cos., Inc.		416		27,498
Tractor Supply Co.		127		25,881
Ulta Beauty, Inc.*		33		12,359
Victoria’s Secret & Co.*		24		1,287
Wayfair, Inc., Class A* (a)		38		5,353
Whirlpool Corp.		38		7,648
Williams-Sonoma, Inc.		106		15,355
YETI Holdings, Inc.*		38		2,339
Yum China Holdings, Inc.		44		2,289

(Cost $1,896,746)				1,869,177

Consumer Staples — 7.9%
Altria Group, Inc.		1,071		54,932
Boston Beer Co., Inc., Class A*		3		1,150
Campbell Soup Co.		65		2,923
Church & Dwight Co., Inc.		86		8,415
Clorox Co.		93		13,559
Colgate-Palmolive Co.		430		33,089
Conagra Brands, Inc.		155		5,420
Costco Wholesale Corp.		448		232,624
Darling Ingredients, Inc.*		38		2,754
Estee Lauder Cos., Inc., Class A		83		24,595
General Mills, Inc.		243		16,386
Herbalife Nutrition Ltd.*		93		3,309
Hershey Co.		76		15,372
Hormel Foods Corp.		237		11,291
Ingredion, Inc.		45		3,993
J M Smucker Co.		47		6,333
Kellogg Co.		89		5,691
Kimberly-Clark Corp.		217		28,243
Kroger Co.		539		25,225
Monster Beverage Corp.*		253		21,353


	Number of Shares		Value
Consumer Staples (Continued)
PepsiCo, Inc.		79	$	12,935
Philip Morris International, Inc.		1,192		120,475
Procter & Gamble Co.		1,219		190,030
Spectrum Brands Holdings, Inc.		31		2,876
Sysco Corp.		244		21,252
Tyson Foods, Inc., Class A		122		11,305
Walgreens Boots Alliance, Inc.		499		22,999
Walmart, Inc.		1,677		226,663

(Cost $1,033,453)				1,125,192

Energy — 3.8%
Chevron Corp.		980		141,120
ConocoPhillips		777		73,706
Coterra Energy, Inc.		423		9,869
Devon Energy Corp.		250		14,887
Diamondback Energy, Inc.		52		7,181
DT Midstream, Inc.		31		1,646
EOG Resources, Inc.		637		73,204
Exxon Mobil Corp.		1,737		136,216
Marathon Oil Corp.		271		6,114
Marathon Petroleum Corp.		368		28,656
Phillips 66		66		5,560
Pioneer Natural Resources Co.		111		26,596
Valero Energy Corp.		65		5,428

(Cost $438,990)				530,183

Financials — 8.3%
Aflac, Inc.		210		12,829
Allstate Corp.		224		27,409
Aon PLC, Class A		86		25,124
Apollo Global Management, Inc.		79		5,156
Arch Capital Group Ltd.*		223		10,505
Berkshire Hathaway, Inc., Class B*		1,717		551,930
Brown & Brown, Inc.		79		5,341
Capital One Financial Corp.		162		24,830
Cboe Global Markets, Inc.		100		11,729
Cincinnati Financial Corp.		160		19,646
Credit Acceptance Corp.*		11		6,051
Erie Indemnity Co., Class A		24		4,202
Evercore, Inc., Class A		99		12,574
FactSet Research Systems, Inc.		30		12,183
Fidelity National Financial, Inc.		368		17,531
First American Financial Corp.		132		8,849
Franklin Resources, Inc.		279		8,295
Hartford Financial Services Group, Inc.		86		5,975
Lazard Ltd., Class A		168		5,809
LPL Financial Holdings, Inc.		113		20,447
Markel Corp.*		3		3,729
MarketAxess Holdings, Inc.		17		6,484
Marsh & McLennan Cos., Inc.		243		37,765
MGIC Investment Corp.		656		9,958
Moody’s Corp.		127		40,898
MSCI, Inc.		51		25,586
Nasdaq, Inc.		38		6,504
Old Republic International Corp.		162		4,269
Progressive Corp.		970		102,752
S&P Global, Inc. (a)		192		72,134


	Number of Shares		Value
Financials (Continued)
SEI Investments Co.		141	$	8,260
Synchrony Financial		265		11,337
T. Rowe Price Group, Inc.		276		39,899
Travelers Cos., Inc.		58		9,966
White Mountains Insurance Group Ltd.		4		4,201

(Cost $966,655)				1,180,157

Health Care — 14.8%
AbbVie, Inc.		560		82,751
ABIOMED, Inc.*		19		5,904
Align Technology, Inc.*		21		10,741
AmerisourceBergen Corp.		99		14,110
Amgen, Inc.		412		93,310
Anthem, Inc.		300		135,555
Biogen, Inc.*		272		57,395
Bio-Rad Laboratories, Inc., Class A*		27		16,901
Bristol-Myers Squibb Co.		176		12,086
Cardinal Health, Inc.		271		14,637
Cerner Corp.		303		28,255
Chemed Corp.		16		7,653
Cigna Corp.		512		121,743
CVS Health Corp.		930		96,394
DaVita, Inc.*		65		7,330
Edwards Lifesciences Corp.*		313		35,172
Eli Lilly & Co.		206		51,490
Exelixis, Inc.*		182		3,736
Gilead Sciences, Inc.		91		5,496
HCA Healthcare, Inc.		129		32,290
Henry Schein, Inc.*		160		13,821
Hologic, Inc.*		89		6,334
Humana, Inc.		232		100,762
IDEXX Laboratories, Inc.*		22		11,712
Illumina, Inc.*		26		8,492
Incyte Corp.*		38		2,595
Intuitive Surgical, Inc.*		60		17,420
Jazz Pharmaceuticals PLC*		37		5,084
Johnson & Johnson		1,810		297,872
Laboratory Corp. of America Holdings*		45		12,207
Masimo Corp.*		17		2,677
McKesson Corp.		210		57,742
Merck & Co., Inc.		667		51,079
Mettler-Toledo International, Inc.*		13		18,314
Molina Healthcare, Inc.*		31		9,513
Neurocrine Biosciences, Inc.*		38		3,415
Organon & Co.		381		14,223
PerkinElmer, Inc.		32		5,747
Pfizer, Inc.		1,318		61,867
Premier, Inc., Class A		107		3,846
Quest Diagnostics, Inc.		84		11,027
Quidel Corp.*		45		4,760
Regeneron Pharmaceuticals, Inc.*		98		60,599
ResMed, Inc.		45		11,104
Sage Therapeutics, Inc. *(a)		65		2,364
Seagen, Inc.*		38		4,897
Thermo Fisher Scientific, Inc.		127		69,088
United Therapeutics Corp.*		26		4,321
UnitedHealth Group, Inc.		658		313,122


	Number of Shares		Value
Health Care (Continued)
Universal Health Services, Inc., Class B		79	$	11,370
Vertex Pharmaceuticals, Inc.*		168		38,643
Waters Corp.*		38		12,036
West Pharmaceutical Services, Inc.		38		14,709

(Cost $1,841,545)				2,095,711

Industrials — 6.9%
3M Co.		251		37,311
A O Smith Corp.		148		10,150
Acuity Brands, Inc.		52		9,483
AGCO Corp.		58		6,969
Alaska Air Group, Inc.*		107		6,007
Boeing Co.*		52		10,678
Booz Allen Hamilton Holding Corp.		38		3,066
C.H. Robinson Worldwide, Inc.		52		5,027
Carlisle Cos., Inc.		17		4,036
Carrier Global Corp.		1,001		44,925
Caterpillar, Inc.		113		21,197
Cintas Corp.		24		9,008
Copart, Inc.*		127		15,606
Cummins, Inc.		172		35,109
Delta Air Lines, Inc.*		564		22,515
Donaldson Co., Inc.		72		3,907
Eaton Corp. PLC		113		17,435
Emerson Electric Co.		388		36,053
Expeditors International of Washington, Inc.		168		17,364
Fastenal Co.		475		24,443
FedEx Corp.		60		13,336
Fortune Brands Home & Security, Inc.		31		2,694
FTI Consulting, Inc.*		38		5,548
General Dynamics Corp.		58		13,598
Graco, Inc.		113		8,146
Honeywell International, Inc.		38		7,211
Huntington Ingalls Industries, Inc.		52		10,629
Illinois Tool Works, Inc.		91		19,687
ITT, Inc.		79		6,942
Jacobs Engineering Group, Inc.		40		4,920
JB Hunt Transport Services, Inc.		93		18,872
JetBlue Airways Corp.*		188		2,871
Johnson Controls International PLC		258		16,760
Knight-Swift Transportation Holdings, Inc.		203		11,059
L3Harris Technologies, Inc.		65		16,400
Landstar System, Inc.		31		4,787
Lennox International, Inc.		13		3,470
Lincoln Electric Holdings, Inc.		43		5,481
Lockheed Martin Corp.		292		126,670
ManpowerGroup, Inc.		50		5,314
Masco Corp.		223		12,497
MSC Industrial Direct Co., Inc., Class A		51		3,951
Northrop Grumman Corp.		53		23,433
Old Dominion Freight Line, Inc.		70		21,982
Oshkosh Corp.		58		6,440
Otis Worldwide Corp.		354		27,729
Owens Corning		58		5,405
PACCAR, Inc.		103		9,456
Parker-Hannifin Corp.		33		9,781


	Number of Shares		Value
Industrials (Continued)
Pentair PLC		63	$	3,648
Quanta Services, Inc.		86		9,369
Republic Services, Inc.		52		6,255
Robert Half International, Inc.		106		12,751
Rockwell Automation, Inc.		45		11,996
Snap-on, Inc.		52		10,929
Southwest Airlines Co.*		550		24,090
Stanley Black & Decker, Inc.		30		4,881
Textron, Inc.		65		4,753
Toro Co.		38		3,565
Trane Technologies PLC		50		7,697
Trex Co., Inc.*		51		4,684
Union Pacific Corp.		34		8,362
United Airlines Holdings, Inc.*		107		4,751
United Parcel Service, Inc., Class B		285		59,970
United Rentals, Inc.*		25		8,041
W.W. Grainger, Inc.		37		17,651
Watsco, Inc.		32		8,738

(Cost $910,721)				977,489

Information Technology — 29.1%
Accenture PLC, Class A		458		144,737
Adobe, Inc.*		250		116,920
Advanced Micro Devices, Inc.*		499		61,547
Akamai Technologies, Inc.*		45		4,872
Amdocs Ltd.		138		10,861
Apple, Inc.		5,332		880,420
Applied Materials, Inc.		485		65,087
Arista Networks, Inc.*		148		18,164
Arrow Electronics, Inc.*		52		6,338
Autodesk, Inc.*		58		12,773
Automatic Data Processing, Inc.		313		63,990
Avnet, Inc.		100		4,207
Broadridge Financial Solutions, Inc.		97		14,182
Cadence Design Systems, Inc.*		145		21,957
CDW Corp.		25		4,311
Ciena Corp.*		148		10,126
Cirrus Logic, Inc.*		55		4,778
Cisco Systems, Inc.		4,637		258,605
Citrix Systems, Inc.		107		10,967
Cognex Corp.		52		3,513
Cognizant Technology Solutions Corp., Class A		680		58,568
Dell Technologies, Inc., Class C*		65		3,312
Dolby Laboratories, Inc., Class A		45		3,380
Enphase Energy, Inc.*		20		3,334
EPAM Systems, Inc.*		17		3,532
F5, Inc.*		44		8,837
Fortinet, Inc.*		73		25,150
Hewlett Packard Enterprise Co.		361		5,747
HP, Inc.		2,306		79,234
Intel Corp.		6,778		323,311
International Business Machines Corp.		237		29,035
Intuit, Inc.		120		56,924
IPG Photonics Corp.*		17		2,216
Jabil, Inc.		131		7,573
Jack Henry & Associates, Inc.		52		9,194


	Number of Shares		Value
Information Technology (Continued)
Keysight Technologies, Inc.*		64	$	10,072
KLA Corp.		63		21,956
Kyndryl Holdings, Inc.*		45		714
Lam Research Corp.		72		40,417
Mastercard, Inc., Class A		481		173,554
Micron Technology, Inc.		1,355		120,405
Microsoft Corp.		2,448		731,438
MKS Instruments, Inc.		23		3,464
Monolithic Power Systems, Inc.		11		5,046
National Instruments Corp.		80		3,212
NetApp, Inc.		235		18,419
NortonLifeLock, Inc.		223		6,463
NVIDIA Corp.		540		131,679
Oracle Corp.		1,118		84,934
Paychex, Inc.		244		29,051
PayPal Holdings, Inc.*		49		5,485
Qorvo, Inc.*		58		7,933
salesforce.com, Inc.*		225		47,369
Skyworks Solutions, Inc.		141		19,482
Synopsys, Inc.*		66		20,618
TD SYNNEX Corp.		38		3,870
Teledyne Technologies, Inc.*		12		5,153
Teradyne, Inc.		145		17,098
Texas Instruments, Inc.		774		131,572
Tyler Technologies, Inc.*		10		4,283
Universal Display Corp.		20		3,098
VeriSign, Inc.*		52		11,113
Visa, Inc., Class A (a)		540		116,705
VMware, Inc., Class A		65		7,626
Western Union Co.		365		6,636
Zebra Technologies Corp., Class A*		13		5,373

(Cost $3,630,839)				4,131,940

Materials — 1.9%
Air Products and Chemicals, Inc.		112		26,465
Amcor PLC		981		11,409
Berry Global Group, Inc.*		52		3,154
Celanese Corp.		93		12,953
CF Industries Holdings, Inc.		120		9,743
Corteva, Inc.		608		31,634
Dow, Inc.		457		26,945
DuPont de Nemours, Inc.		32		2,476
Eagle Materials, Inc.		24		3,284
International Paper Co.		251		10,926
Louisiana-Pacific Corp.		107		7,699
LyondellBasell Industries NV, Class A		143		13,904
Mosaic Co.		113		5,924
Newmont Corp.		477		31,577
Nucor Corp.		155		20,401
Packaging Corp. of America		58		8,537
Reliance Steel & Aluminum Co.		72		13,743
Scotts Miracle-Gro Co.		31		4,342
Sherwin-Williams Co.		76		19,998
Steel Dynamics, Inc.		93		6,564
Sylvamo Corp.*		24		838

(Cost $241,982)				272,516


	Number of Shares		Value
Real Estate — 1.1%
Apartment Income REIT Corp. REIT		70	$	3,613
Boston Properties, Inc. REIT		38		4,648
CBRE Group, Inc., Class A*		402		38,934
Gaming and Leisure Properties, Inc. REIT		65		2,952
Highwoods Properties, Inc. REIT		58		2,529
Host Hotels & Resorts, Inc. REIT*		415		7,582
Jones Lang LaSalle, Inc.*		31		7,633
Kimco Realty Corp. REIT		320		7,529
Public Storage REIT		121		42,957
Simon Property Group, Inc. REIT		148		20,359
VICI Properties, Inc. REIT		187		5,228
Vornado Realty Trust REIT		162		7,011
Weyerhaeuser Co. REIT		216		8,398

(Cost $133,561)				159,373

Utilities — 0.8%
AES Corp.		293		6,220
Constellation Energy Corp.		155		7,127
DTE Energy Co.		58		7,052
Entergy Corp.		50		5,261
Evergy, Inc.		102		6,366
Exelon Corp.		465		19,790
NRG Energy, Inc.		349		13,206
PPL Corp.		206		5,391
Public Service Enterprise Group, Inc.		230		14,911
Sempra Energy		90		12,980
Vistra Corp.		478		10,908

(Cost $100,437)				109,212

TOTAL COMMON STOCKS (Cost $12,570,175)				13,950,539

SECURITIES LENDING COLLATERAL — 0.1%
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) (Cost $10,656)		10,656		10,656

CASH EQUIVALENTS — 1.4%
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) (Cost $204,073)		204,073	$	204,073


TOTAL INVESTMENTS — 99.9% (Cost $12,784,904)			$	14,165,268
Other assets and liabilities, net — 0.1%				20,533

NET ASSETS — 100.0%			$	14,185,801

A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:


	Number of Shares		Value
COMMON STOCKS — 99.6%
Communication Services — 2.6%
Activision Blizzard, Inc.		716	$	58,354
Alphabet, Inc., Class A*		60		162,068
Alphabet, Inc., Class C*		60		161,869
AT&T, Inc.		3,437		81,423
Cable One, Inc.		24		34,388
Charter Communications, Inc., Class A*		167		100,497
Comcast Corp., Class A		1,540		72,010
Discovery, Inc., Class A*(a)		721		20,224
Discovery, Inc., Class C*		2,931		81,980
DISH Network Corp., Class A*		3,866		123,557
Electronic Arts, Inc.		1,108		144,140
Fox Corp., Class A		8,921		373,165
Fox Corp., Class B		3,758		143,781
Interpublic Group of Cos., Inc.		19,936		733,645
Liberty Broadband Corp., Class C*		200		29,340
Liberty Media Corp.-Liberty Formula One, Class C*		219		13,300
Liberty Media Corp-Liberty SiriusXM, Class A*		975		49,101
Liberty Media Corp-Liberty SiriusXM, Class C*		1,804		90,777
Loyalty Ventures, Inc.*		1,210		29,040
Lumen Technologies, Inc.		18,811		194,882
Match Group, Inc.*		351		39,133
Meta Platforms, Inc., Class A*		253		53,391
Netflix, Inc.*		33		13,019
New York Times Co., Class A		1,529		67,261
News Corp., Class A		12,117		270,451
News Corp., Class B		3,886		87,163
Nexstar Media Group, Inc., Class A		1,993		368,805
Omnicom Group, Inc.		4,888		410,054
Paramount Global, Class B		1,298		39,732
Playtika Holding Corp.*		1,817		37,430
Sirius XM Holdings, Inc. (a)		6,322		38,944
Take-Two Interactive Software, Inc.*		421		68,202
Verizon Communications, Inc.		1,565		83,994
Vimeo, Inc.*		855		11,107
Walt Disney Co.*		113		16,776
World Wrestling Entertainment, Inc., Class A (a)		846		50,134

(Cost $4,084,370)				4,353,137

Consumer Discretionary — 11.0%
Advance Auto Parts, Inc.		3,418		698,913
Amazon.com, Inc.*		19		58,354
Aptiv PLC*		393		50,870
Aramark		701		25,909
AutoNation, Inc.*		2,191		251,220
AutoZone, Inc.*		682		1,270,832
Bath & Body Works, Inc.		246		13,129
Best Buy Co., Inc.		8,513		822,696
Booking Holdings, Inc.*		12		26,067
BorgWarner, Inc.		1,354		55,528
Brunswick Corp.		2,634		251,600
Burlington Stores, Inc.*		64		14,457
CarMax, Inc.*		1,298		141,910
Carter’s, Inc.		1,443		139,509


	Number of Shares		Value
Consumer Discretionary (Continued)
Chipotle Mexican Grill, Inc.*		79	$	120,345
Choice Hotels International, Inc.		330		47,635
Churchill Downs, Inc.		45		10,839
Columbia Sportswear Co.		1,231		114,138
D.R. Horton, Inc.		4,484		382,934
Darden Restaurants, Inc.		498		72,320
Deckers Outdoor Corp.*		482		139,124
Dick’s Sporting Goods, Inc. (a)		1,978		207,690
Dollar General Corp.		2,465		488,908
Dollar Tree, Inc.*		4,328		614,922
Domino’s Pizza, Inc.		746		322,429
DoorDash, Inc., Class A*		71		7,451
eBay, Inc.		14,917		814,319
Etsy, Inc.*		146		22,614
Five Below, Inc.*		511		83,605
Floor & Decor Holdings, Inc., Class A*		577		55,173
Foot Locker, Inc.		3,248		102,702
Ford Motor Co.		20,885		366,741
Frontdoor, Inc.*		292		8,775
Garmin Ltd.		2,750		303,710
General Motors Co.*		4,246		198,373
Gentex Corp.		7,362		222,848
Genuine Parts Co.		6,811		832,032
Grand Canyon Education, Inc.*		741		64,341
H&R Block, Inc.		7,532		186,869
Hanesbrands, Inc.		4,712		72,800
Harley-Davidson, Inc.		1,726		71,284
Hasbro, Inc.		370		35,908
Hayward Holdings, Inc.*(a)		550		9,839
Hilton Worldwide Holdings, Inc.*		487		72,495
Home Depot, Inc.		188		59,376
Kohl’s Corp.		659		36,654
Lear Corp.		390		61,363
Leggett & Platt, Inc.		2,028		75,198
Lennar Corp., Class A		3,785		340,196
Lennar Corp., Class B		289		21,819
Lithia Motors, Inc.		29		9,884
LKQ Corp.		8,211		385,506
Lowe’s Cos., Inc.		1,505		332,695
Lululemon Athletica, Inc.*		241		77,106
Marriott International, Inc., Class A*		184		31,306
Mattel, Inc.*		1,861		46,488
McDonald’s Corp.		335		81,998
Mister Car Wash, Inc.*		1,197		19,176
Mohawk Industries, Inc.*		1,015		142,892
Newell Brands, Inc.		4,474		106,257
NIKE, Inc., Class B		689		94,083
NVR, Inc.*		51		252,880
Ollie’s Bargain Outlet Holdings, Inc.*		440		18,999
O’Reilly Automotive, Inc.*		1,234		801,162
Penske Automotive Group, Inc.		919		90,329
Petco Health & Wellness Co., Inc.*(a)		581		10,179
Polaris, Inc. (a)		2,005		243,628
Pool Corp.		1,033		473,713
PulteGroup, Inc.		5,926		294,285
Qurate Retail, Inc., Series A		3,006		16,563
Ralph Lauren Corp.		303		40,008


	Number of Shares		Value
Consumer Discretionary (Continued)
Ross Stores, Inc.		822	$	75,123
Service Corp. International		6,003		365,283
Skechers U.S.A., Inc., Class A*		1,346		61,889
Starbucks Corp.		1,523		139,796
Tapestry, Inc.		8,278		338,570
Target Corp.		2,571		513,609
Tempur Sealy International, Inc.		206		6,800
Terminix Global Holdings, Inc.*		307		13,066
Thor Industries, Inc. (a)		867		78,463
TJX Cos., Inc.		1,751		115,741
Toll Brothers, Inc.		1,942		105,373
TopBuild Corp.*		311		66,765
Tractor Supply Co.		4,294		875,074
Travel + Leisure Co.		263		14,741
Ulta Beauty, Inc.*		376		140,812
Vail Resorts, Inc.		389		101,354
VF Corp.		337		19,553
Victoria’s Secret & Co.*		3,623		194,301
Whirlpool Corp.		1,402		282,181
Williams-Sonoma, Inc.		1,883		272,771
Wyndham Hotels & Resorts, Inc.		172		14,863
YETI Holdings, Inc.*		400		24,624
Yum China Holdings, Inc.		870		45,257
Yum! Brands, Inc.		1,773		217,334

(Cost $16,497,846)				18,121,243

Consumer Staples — 5.5%
Albertsons Cos., Inc., Class A		6,932		202,068
Altria Group, Inc.		7,382		378,623
Archer-Daniels-Midland Co.		1,878		147,329
Brown-Forman Corp., Class A		225		13,734
Brown-Forman Corp., Class B		514		33,528
Campbell Soup Co.		1,641		73,796
Casey’s General Stores, Inc.		813		152,909
Church & Dwight Co., Inc.		2,727		266,837
Clorox Co.		775		112,987
Coca-Cola Co.		900		56,016
Colgate-Palmolive Co.		2,257		173,676
Conagra Brands, Inc.		3,500		122,395
Constellation Brands, Inc., Class A		902		194,489
Costco Wholesale Corp.		663		344,263
Darling Ingredients, Inc.*		2,217		160,688
Estee Lauder Cos., Inc., Class A		1,135		336,335
Flowers Foods, Inc.		10,723		293,917
General Mills, Inc.		4,642		313,010
Grocery Outlet Holding Corp.*		337		9,372
Hain Celestial Group, Inc.*		2,047		74,429
Herbalife Nutrition Ltd.*		1,370		48,745
Hershey Co.		2,146		434,050
Hormel Foods Corp.		2,366		112,716
Ingredion, Inc.		2,908		258,056
J M Smucker Co.		3,018		406,675
Kellogg Co.		3,455		220,913
Keurig Dr Pepper, Inc.		2,479		95,863
Kimberly-Clark Corp.		2,231		290,365
Kraft Heinz Co.		3,187		124,994
Kroger Co.		21,727		1,016,824
Lamb Weston Holdings, Inc.		349		23,184


	Number of Shares		Value
Consumer Staples (Continued)
McCormick & Co., Inc.		989	$	94,123
Molson Coors Beverage Co., Class B		1,717		89,593
Mondelez International, Inc., Class A		2,841		186,029
Monster Beverage Corp.*		1,511		127,528
PepsiCo, Inc.		534		87,437
Philip Morris International, Inc.		2,385		241,052
Pilgrim’s Pride Corp.*		2,622		61,827
Post Holdings, Inc.*		975		102,511
Procter & Gamble Co.		422		65,786
Seaboard Corp.		13		50,173
Spectrum Brands Holdings, Inc.		125		11,598
Sysco Corp.		1,592		138,663
Tyson Foods, Inc., Class A		8,236		763,148
Walgreens Boots Alliance, Inc.		12,090		557,228
Walmart, Inc.		258		34,871

(Cost $8,169,451)				9,104,353

Energy — 1.4%
Antero Midstream Corp. (a)		930		9,337
Baker Hughes Co.		1,028		30,203
Cheniere Energy, Inc.		2,214		294,241
Chevron Corp.		410		59,040
ConocoPhillips		998		94,670
Coterra Energy, Inc.		7,972		185,987
Devon Energy Corp.		268		15,959
DT Midstream, Inc.		2,593		137,688
EOG Resources, Inc.		2,617		300,746
EQT Corp.		1,264		29,249
Exxon Mobil Corp.		721		56,541
Hess Corp.		115		11,622
HollyFrontier Corp.*		439		13,368
Kinder Morgan, Inc.		12,326		214,472
Marathon Oil Corp.		1,341		30,253
Marathon Petroleum Corp.		242		18,844
NOV, Inc.		914		15,675
Occidental Petroleum Corp.		646		28,250
ONEOK, Inc.		1,211		79,078
Phillips 66		313		26,367
Pioneer Natural Resources Co.		762		182,575
Schlumberger N.V.		690		27,076
Texas Pacific Land Corp.		66		78,456
Valero Energy Corp.		437		36,494
Williams Cos., Inc.		9,192		287,526

(Cost $1,755,646)				2,263,717

Financials — 16.5%
Affiliated Managers Group, Inc.		1,531		211,829
Aflac, Inc.		8,439		515,539
AGNC Investment Corp. REIT (a)		3,377		43,597
Alleghany Corp.*		187		123,779
Allstate Corp.		4,461		545,848
Ally Financial, Inc.		3,420		170,658
American Express Co.		698		135,789
American Financial Group, Inc.		1,472		199,294
American International Group, Inc.		349		21,373
Ameriprise Financial, Inc.		1,290		386,729
Annaly Capital Management, Inc. REIT		2,048		14,254
Aon PLC, Class A		1,642		479,694


	Number of Shares		Value
Financials (Continued)
Apollo Global Management, Inc.		1,820	$	118,773
Arch Capital Group Ltd.*		11,019		519,105
Ares Management Corp., Class A		869		70,467
Arthur J Gallagher & Co.		2,270		359,091
Assurant, Inc.		1,303		221,132
Assured Guaranty Ltd.		2,878		178,350
Axis Capital Holdings Ltd.		592		32,335
Bank of America Corp.		1,000		44,200
Bank of Hawaii Corp.		423		36,454
Bank of New York Mellon Corp.		5,663		300,988
Bank OZK		1,961		92,206
Berkshire Hathaway, Inc., Class B*		502		161,368
BlackRock, Inc.		130		96,706
Blackstone, Inc.		1,296		165,201
BOK Financial Corp.		304		31,221
Brighthouse Financial, Inc.*		360		18,814
Brown & Brown, Inc.		5,887		398,020
Capital One Financial Corp.		3,107		476,210
Carlyle Group, Inc.		1,243		58,259
Cboe Global Markets, Inc.		5,844		685,443
Charles Schwab Corp.		894		75,507
Chubb Ltd.		1,519		309,329
Cincinnati Financial Corp.		5,274		647,594
Citigroup, Inc.		456		27,009
Citizens Financial Group, Inc.		2,154		112,913
CME Group, Inc.		551		130,328
CNA Financial Corp.		634		28,974
Comerica, Inc.		1,523		145,431
Commerce Bancshares, Inc.		1,302		93,458
Credit Acceptance Corp.*(a)		369		202,994
Cullen/Frost Bankers, Inc.		867		122,013
Discover Financial Services		1,068		131,834
East West Bancorp, Inc.		2,068		181,074
Equitable Holdings, Inc.		932		30,439
Erie Indemnity Co., Class A		308		53,931
Evercore, Inc., Class A		2,982		378,744
Everest Re Group Ltd.		915		272,871
FactSet Research Systems, Inc.		958		389,034
Fidelity National Financial, Inc.		11,511		548,384
Fifth Third Bancorp		2,866		137,109
First American Financial Corp.		7,687		515,336
First Citizens BancShares, Inc., Class A		90		70,960
First Hawaiian, Inc.		1,882		54,710
First Horizon Corp.		8,101		190,211
First Republic Bank		796		137,915
FNB Corp.		4,718		63,363
Franklin Resources, Inc.		15,544		462,123
Globe Life, Inc.		1,786		180,315
Goldman Sachs Group, Inc.		185		63,139
Hanover Insurance Group, Inc.		1,226		171,039
Hartford Financial Services Group, Inc.		7,491		520,475
Huntington Bancshares, Inc.		8,346		129,530
Interactive Brokers Group, Inc., Class A		1,530		101,255
Intercontinental Exchange, Inc.		989		126,711
Invesco Ltd.		8,638		183,471
Janus Henderson Group PLC		4,361		146,399
Jefferies Financial Group, Inc.		8,064		286,595


	Number of Shares		Value
Financials (Continued)
Kemper Corp.		498	$	26,613
KeyCorp		8,056		201,964
KKR & Co., Inc.		813		48,878
Lazard Ltd., Class A		5,940		205,405
Lincoln National Corp.		1,230		82,927
Loews Corp.		1,422		87,225
LPL Financial Holdings, Inc.		2,617		473,546
M&T Bank Corp.		1,202		219,040
Markel Corp.*		261		324,400
MarketAxess Holdings, Inc.		49		18,690
Marsh & McLennan Cos., Inc.		2,790		433,594
Mercury General Corp.		1,284		70,620
MetLife, Inc.		4,850		327,618
MGIC Investment Corp.		9,701		147,261
Moody’s Corp.		853		274,692
Morgan Stanley		1,007		91,375
Morningstar, Inc.		702		197,016
MSCI, Inc.		611		306,533
Nasdaq, Inc.		2,126		363,865
New York Community Bancorp, Inc.		7,326		84,542
Northern Trust Corp.		1,753		199,667
Old Republic International Corp.		17,860		470,611
OneMain Holdings, Inc.		487		24,827
People’s United Financial, Inc.		7,752		163,412
Pinnacle Financial Partners, Inc.		1,150		116,242
PNC Financial Services Group, Inc.		697		138,877
Popular, Inc.		1,648		151,369
Primerica, Inc.		981		127,422
Principal Financial Group, Inc.		4,434		313,218
Progressive Corp.		5,092		539,396
Prosperity Bancshares, Inc.		1,347		100,298
Prudential Financial, Inc.		2,548		284,510
Raymond James Financial, Inc.		6,486		711,190
Regions Financial Corp.		7,944		192,165
Reinsurance Group of America, Inc.		492		54,543
RenaissanceRe Holdings Ltd.		891		134,345
S&P Global, Inc. (a)		1,242		466,619
SEI Investments Co.		4,115		241,057
Signature Bank		425		146,578
SLM Corp.		10,025		197,493
Starwood Property Trust, Inc. REIT		5,532		131,883
State Street Corp.		2,752		234,828
Stifel Financial Corp.		3,156		231,966
SVB Financial Group*		177		107,262
Synchrony Financial		9,990		427,372
Synovus Financial Corp.		1,093		57,546
T. Rowe Price Group, Inc.		3,628		524,464
Tradeweb Markets, Inc., Class A		1,219		102,981
Travelers Cos., Inc.		2,302		395,553
Truist Financial Corp.		2,937		182,740
Unum Group		2,727		76,138
Upstart Holdings, Inc.*(a)		220		34,758
US Bancorp		2,533		143,216
Virtu Financial, Inc., Class A		3,522		123,552
Voya Financial, Inc.		1,697		114,293
W.R. Berkley Corp.		2,955		266,836
Webster Financial Corp.		1,830		110,184


	Number of Shares		Value
Financials (Continued)
Wells Fargo & Co.		1,052	$	56,145
Western Alliance Bancorp		941		88,209
White Mountains Insurance Group Ltd.		198		207,940
Willis Towers Watson PLC		1,067		237,194
Wintrust Financial Corp.		161		15,997
Zions Bancorp NA		2,817		199,697

(Cost $24,036,881)				27,165,640

Health Care — 9.8%
Abbott Laboratories		680		82,022
AbbVie, Inc.		127		18,767
ABIOMED, Inc.*		242		75,199
Agilent Technologies, Inc.		2,761		359,924
Align Technology, Inc.*		122		62,398
AmerisourceBergen Corp.		667		95,067
Amgen, Inc.		633		143,362
Anthem, Inc.		1,653		746,908
Avantor, Inc.*		1,785		61,922
Baxter International, Inc.		1,804		153,286
Becton Dickinson and Co.		620		168,194
Biogen, Inc.*		640		135,046
BioMarin Pharmaceutical, Inc.*		178		13,905
Bio-Rad Laboratories, Inc., Class A*		816		510,783
Bio-Techne Corp.		792		332,173
Boston Scientific Corp.*		2,124		93,817
Bristol-Myers Squibb Co.		1,069		73,408
Bruker Corp.		1,694		119,207
Cardinal Health, Inc.		2,701		145,881
Catalent, Inc.*		699		71,326
Centene Corp.*		1,324		109,389
Cerner Corp.		3,211		299,426
Charles River Laboratories International, Inc.*		501		145,871
Chemed Corp.		314		150,183
Cigna Corp.		1,870		444,649
Cooper Cos., Inc.		926		378,752
CVS Health Corp.		5,031		521,463
Danaher Corp.		101		27,715
DaVita, Inc.*		671		75,669
DENTSPLY SIRONA, Inc.		946		51,216
Dexcom, Inc.*		67		27,732
Edwards Lifesciences Corp.*		2,318		260,474
Eli Lilly & Co.		452		112,977
Encompass Health Corp.		550		36,311
Envista Holdings Corp.*		929		44,592
Exelixis, Inc.*		940		19,298
Figs, Inc., Class A*		1,421		23,347
Gilead Sciences, Inc.		2,449		147,920
Globus Medical, Inc., Class A*		1,073		75,453
HCA Healthcare, Inc.		1,064		266,330
Henry Schein, Inc.*		5,346		461,787
Hologic, Inc.*		4,674		332,648
Horizon Therapeutics PLC*		1,352		123,262
Humana, Inc.		1,425		618,906
ICU Medical, Inc.*		497		117,655
IDEXX Laboratories, Inc.*		436		232,105
Illumina, Inc.*		209		68,259
Insulet Corp.*		103		27,263


	Number of Shares		Value
Health Care (Continued)
Integra LifeSciences Holdings Corp.*		695	$	46,607
Intuitive Surgical, Inc.*		451		130,939
IQVIA Holdings, Inc.*		731		168,218
Jazz Pharmaceuticals PLC*		535		73,520
Johnson & Johnson		263		43,282
Laboratory Corp. of America Holdings*		2,172		589,177
Masimo Corp.*		578		91,006
McKesson Corp.		2,309		634,883
Medtronic PLC		625		65,619
Merck & Co., Inc.		1,214		92,968
Mettler-Toledo International, Inc.*		238		335,280
Molina Healthcare, Inc.*		1,475		452,633
Neurocrine Biosciences, Inc.*		341		30,646
Organon & Co.		15,359		573,351
PerkinElmer, Inc.		1,826		327,968
Perrigo Co. PLC		941		33,424
Pfizer, Inc.		1,582		74,259
Premier, Inc., Class A		6,150		221,031
QIAGEN NV*		2,075		103,107
Quest Diagnostics, Inc.		4,706		617,757
Quidel Corp.*		78		8,252
Regeneron Pharmaceuticals, Inc.*		594		367,306
Repligen Corp.*		206		40,520
ResMed, Inc.		928		228,984
Royalty Pharma PLC, Class A		772		30,309
Seagen, Inc.*		227		29,253
STERIS PLC		740		177,600
Stryker Corp.		312		82,165
Syneos Health, Inc.*		451		35,719
Teleflex, Inc.		65		21,860
Thermo Fisher Scientific, Inc.		183		99,552
United Therapeutics Corp.*		2,143		356,167
UnitedHealth Group, Inc.		168		79,946
Universal Health Services, Inc., Class B		929		133,711
Veeva Systems, Inc., Class A*		403		92,307
Vertex Pharmaceuticals, Inc.*		436		100,289
Waters Corp.*		1,067		337,951
West Pharmaceutical Services, Inc.		1,048		405,660
Zimmer Biomet Holdings, Inc.		223		28,363
Zoetis, Inc.		866		167,701

(Cost $14,018,660)				16,192,537

Industrials — 15.6%
3M Co.		1,157		171,988
A O Smith Corp.		6,776		464,698
Acuity Brands, Inc.		1,691		308,388
Advanced Drainage Systems, Inc.		1,385		161,657
AECOM		6,215		451,582
AGCO Corp.		1,825		219,292
Allegion PLC		1,516		173,612
Allison Transmission Holdings, Inc.		989		39,501
AMERCO		516		298,047
AMETEK, Inc.		1,937		251,403
Armstrong World Industries, Inc.		330		29,172
Axon Enterprise, Inc.*		109		15,287
AZEK Co., Inc.*		719		21,203
Booz Allen Hamilton Holding Corp.		1,860		150,083
Builders FirstSource, Inc.*		650		48,373


	Number of Shares		Value
Industrials (Continued)
BWX Technologies, Inc.		709	$	37,875
C.H. Robinson Worldwide, Inc.		2,225		215,113
CACI International, Inc., Class A*		1,431		400,379
Carlisle Cos., Inc.		1,717		407,616
Carrier Global Corp.		8,372		375,735
Caterpillar, Inc.		339		63,590
Cintas Corp.		552		207,177
Clean Harbors, Inc.*		1,065		101,633
Colfax Corp.*		706		28,388
Copart, Inc.*		2,031		249,569
Core & Main, Inc., Class A*		375		8,430
CoStar Group, Inc.*		572		34,898
Crane Co.		994		100,474
CSX Corp.		4,493		152,358
Cummins, Inc.		1,296		264,540
Curtiss-Wright Corp.		629		92,790
Deere & Co.		587		211,332
Donaldson Co., Inc.		3,545		192,387
Dover Corp.		1,949		305,720
Eaton Corp. PLC		2,050		316,295
Emerson Electric Co.		3,550		329,866
Equifax, Inc.		902		196,943
Expeditors International of Washington, Inc.		5,455		563,829
Fastenal Co.		7,369		379,209
FedEx Corp.		663		147,365
Flowserve Corp.		672		20,409
Fluence Energy, Inc.*		481		6,508
Fortive Corp.		2,269		146,918
Fortune Brands Home & Security, Inc.		1,666		144,775
FTI Consulting, Inc.*		2,404		350,984
Gates Industrial Corp. PLC*(a)		698		11,056
Generac Holdings, Inc.*		677		213,573
General Dynamics Corp.		2,278		534,077
General Electric Co.		589		56,255
Graco, Inc.		2,651		191,111
GXO Logistics, Inc.*		988		82,923
HEICO Corp. (a)		175		25,814
HEICO Corp., Class A		327		40,195
Hexcel Corp.		326		18,875
Honeywell International, Inc.		418		79,315
Hubbell, Inc.		1,486		264,879
Huntington Ingalls Industries, Inc.		1,708		349,115
IAA, Inc.*		345		12,675
IDEX Corp.		951		182,497
Illinois Tool Works, Inc.		921		199,249
ITT, Inc.		2,379		209,043
Jacobs Engineering Group, Inc.		1,606		197,538
JB Hunt Transport Services, Inc.		2,750		558,058
Johnson Controls International PLC		7,057		458,423
Kirby Corp.*		441		28,731
Knight-Swift Transportation Holdings, Inc.		8,638		470,598
L3Harris Technologies, Inc.		1,804		455,167
Landstar System, Inc.		1,715		264,813
Leidos Holdings, Inc.		1,330		135,447
Lennox International, Inc.		843		225,022


	Number of Shares		Value
Industrials (Continued)
Lincoln Electric Holdings, Inc.		1,439	$	183,415
Lockheed Martin Corp.		755		327,519
ManpowerGroup, Inc.		1,740		184,927
Masco Corp.		7,732		433,301
MasTec, Inc.*		1,453		114,438
MDU Resources Group, Inc.		6,280		168,116
Middleby Corp.*		632		112,256
MSA Safety, Inc.		523		72,749
MSC Industrial Direct Co., Inc., Class A		1,001		77,557
Nielsen Holdings PLC		4,743		82,623
Nordson Corp.		818		185,269
Norfolk Southern Corp.		721		184,951
Northrop Grumman Corp.		1,119		494,755
nVent Electric PLC		2,265		76,851
Old Dominion Freight Line, Inc.		1,159		363,961
Oshkosh Corp.		4,479		497,348
Otis Worldwide Corp.		6,060		474,680
Owens Corning		1,643		153,111
PACCAR, Inc.		1,288		118,251
Parker-Hannifin Corp.		750		222,293
Pentair PLC		5,809		336,399
Quanta Services, Inc.		6,850		746,239
Raytheon Technologies Corp.		116		11,913
Regal Rexnord Corp.		1,490		238,922
Republic Services, Inc.		2,583		310,683
Robert Half International, Inc.		4,529		544,793
Rockwell Automation, Inc.		466		124,226
Rollins, Inc.		1,431		46,694
Roper Technologies, Inc.		395		177,047
Ryder System, Inc.		2,160		170,294
Schneider National, Inc., Class B		3,985		104,088
Science Applications International Corp.		932		81,727
Sensata Technologies Holding PLC*		1,647		95,378
Shoals Technologies Group, Inc., Class A*(a)		1,579		24,964
SiteOne Landscape Supply, Inc.*		723		124,667
Snap-on, Inc.		2,326		488,879
Stanley Black & Decker, Inc.		877		142,688
Stericycle, Inc.*		625		36,475
Textron, Inc.		2,915		213,174
Timken Co.		559		36,648
Toro Co.		2,266		212,573
Trane Technologies PLC		1,811		278,767
TransDigm Group, Inc.*		30		19,998
TransUnion		1,131		102,650
Trex Co., Inc.*		1,117		102,585
Union Pacific Corp.		528		129,862
United Parcel Service, Inc., Class B		942		198,216
United Rentals, Inc.*		502		161,453
Univar Solutions, Inc.*		1,039		31,908
Valmont Industries, Inc.		1,038		224,675
Verisk Analytics, Inc.		693		122,897
Vertiv Holdings Co.		4,220		54,944
W.W. Grainger, Inc.		604		288,144
Waste Management, Inc.		2,022		291,977
Watsco, Inc.		1,765		481,951
Westinghouse Air Brake Technologies Corp.		1,537		142,664


	Number of Shares		Value
Industrials (Continued)
Woodward, Inc.		494	$	61,567
XPO Logistics, Inc.*		620		45,062
Xylem, Inc.		1,727		153,617

(Cost $22,679,980)				25,811,619

Information Technology — 19.4%
Accenture PLC, Class A		532		168,123
Adobe, Inc.*		267		124,871
Advanced Micro Devices, Inc.*		3,307		407,885
Akamai Technologies, Inc.*		3,127		338,529
Allegro MicroSystems, Inc.*		1,017		29,157
Amdocs Ltd.		10,089		794,004
Amphenol Corp., Class A		7,335		557,533
Analog Devices, Inc.		203		32,539
ANSYS, Inc.*		688		223,043
Apple, Inc.		2,470		407,846
Applied Materials, Inc.		4,673		627,117
Arista Networks, Inc.*		1,557		191,091
Arrow Electronics, Inc.*		5,426		661,321
Aspen Technology, Inc.*		2,417		368,375
Atlassian Corp. PLC, Class A*		713		217,978
Autodesk, Inc.*		935		205,915
Automatic Data Processing, Inc.		1,451		296,642
Avnet, Inc.		3,571		150,232
Azenta, Inc.		584		51,112
Bentley Systems, Inc., Class B (a)		1,848		70,945
Black Knight, Inc.*		317		17,812
Broadcom, Inc.		228		133,936
Broadridge Financial Solutions, Inc.		2,003		292,859
Cadence Design Systems, Inc.*		3,967		600,723
CDK Global, Inc.		1,767		80,116
CDW Corp.		4,501		776,242
Ceridian HCM Holding, Inc.*		175		12,759
Ciena Corp.*		3,245		222,023
Cirrus Logic, Inc.*		2,427		210,833
Cisco Systems, Inc.		3,269		182,312
Citrix Systems, Inc.		1,034		105,985
Cognex Corp.		990		66,884
Cognizant Technology Solutions Corp., Class A		8,681		747,695
Coherent, Inc.*		92		24,317
Concentrix Corp.		309		61,766
Corning, Inc.		6,232		251,773
Dell Technologies, Inc., Class C*		14,049		715,937
DocuSign, Inc.*		98		11,606
Dolby Laboratories, Inc., Class A		2,527		189,778
DoubleVerify Holdings, Inc.*		1,103		30,498
Dropbox, Inc., Class A*		5,003		113,518
DXC Technology Co.*		1,035		35,221
Dynatrace, Inc.*		302		13,415
Elastic NV*		115		9,965
Entegris, Inc.		3,418		445,981
EPAM Systems, Inc.*		1,567		325,544
F5, Inc.*		3,394		681,685
Fair Isaac Corp.*		66		31,099
Fidelity National Information Services, Inc.		255		24,284
First Solar, Inc.*		369		27,782


	Number of Shares		Value
Information Technology (Continued)
Fiserv, Inc.*		549	$	53,621
FleetCor Technologies, Inc.*		231		54,100
Fortinet, Inc.*		1,914		659,411
Gartner, Inc.*		2,338		655,622
Genpact Ltd.		4,268		178,573
Global Payments, Inc.		129		17,206
Globant SA*		354		96,996
GoDaddy, Inc., Class A*		465		38,786
Guidewire Software, Inc.*		485		42,753
Hewlett Packard Enterprise Co.		59,578		948,482
HP, Inc.		53,339		1,832,728
HubSpot, Inc.*		91		47,775
Intel Corp.		8,225		392,332
International Business Machines Corp.		3,222		394,727
Intuit, Inc.		351		166,504
IPG Photonics Corp.*		148		19,292
Jabil, Inc.		11,058		639,263
Jack Henry & Associates, Inc.		920		162,656
Juniper Networks, Inc.		11,478		387,842
Keysight Technologies, Inc.*		2,780		437,489
KLA Corp.		2,222		774,367
Kyndryl Holdings, Inc.*		17,385		275,726
Lam Research Corp.		660		370,491
Littelfuse, Inc.		331		85,467
Lumentum Holdings, Inc.*		497		49,133
Manhattan Associates, Inc.*		1,332		178,062
Marvell Technology, Inc.		4,350		297,235
Mastercard, Inc., Class A		80		28,866
McAfee Corp., Class A		1,572		40,856
Microchip Technology, Inc.		1,744		122,655
Micron Technology, Inc.		4,084		362,904
Microsoft Corp.		1,573		469,997
MKS Instruments, Inc.		635		95,631
Monolithic Power Systems, Inc.		1,235		566,494
Motorola Solutions, Inc.		1,623		357,758
National Instruments Corp.		4,318		173,368
NCR Corp.*		1,784		72,288
NetApp, Inc.		9,578		750,724
New Relic, Inc.*		100		6,624
NortonLifeLock, Inc.		10,693		309,883
Nuance Communications, Inc.*		1,373		76,229
NVIDIA Corp.		67		16,338
NXP Semiconductors NV		1,349		256,472
ON Semiconductor Corp.*		705		44,140
Oracle Corp.		2,073		157,486
Palo Alto Networks, Inc.*		336		199,668
Paychex, Inc.		3,233		384,921
Paycom Software, Inc.*		257		87,177
Paycor HCM, Inc.*		395		11,088
Paylocity Holding Corp.*		249		52,898
PayPal Holdings, Inc.*		102		11,417
Procore Technologies, Inc.*		641		41,787
PTC, Inc.*		800		89,024
Qorvo, Inc.*		1,992		272,466
QUALCOMM, Inc.		1,385		238,206
salesforce.com, Inc.*		428		90,107
ServiceNow, Inc.*		235		136,281


	Number of Shares		Value
Information Technology (Continued)
Skyworks Solutions, Inc.		3,652	$	504,597
SolarWinds Corp.		835		11,314
SS&C Technologies Holdings, Inc.		3,030		227,159
Switch, Inc., Class A		3,543		92,189
Synopsys, Inc.*		2,467		770,666
TD SYNNEX Corp.		3,258		331,762
Teledyne Technologies, Inc.*		373		160,159
Teradata Corp.*		3,264		163,167
Teradyne, Inc.		3,203		377,698
Texas Instruments, Inc.		1,946		330,801
Thoughtworks Holding, Inc.*		684		15,636
Trimble, Inc.*		1,726		120,388
Tyler Technologies, Inc.*		935		400,423
VeriSign, Inc.*		2,021		431,928
Viasat, Inc.*		1,813		82,745
Visa, Inc., Class A		130		28,096
VMware, Inc., Class A		1,026		120,370
Vontier Corp.		3,817		92,753
Western Digital Corp.*		1,621		82,574
Western Union Co.		2,635		47,904
Workday, Inc., Class A*		587		134,452
Xerox Holdings Corp.		945		18,626
Zebra Technologies Corp., Class A*		548		226,510

(Cost $28,541,037)				31,920,915

Materials — 6.2%
Air Products and Chemicals, Inc.		789		186,441
Albemarle Corp.		633		123,998
Alcoa Corp.		1,052		79,258
Amcor PLC		15,211		176,904
AptarGroup, Inc.		870		106,036
Ardagh Metal Packaging SA*(a)		2,752		22,869
Ashland Global Holdings, Inc.		2,240		206,707
Avery Dennison Corp.		1,786		314,693
Axalta Coating Systems Ltd.*		1,875		50,700
Ball Corp.		1,141		102,393
Berry Global Group, Inc.*		4,392		266,375
Celanese Corp.		3,082		429,261
CF Industries Holdings, Inc.		4,186		339,861
Chemours Co.		988		27,269
Corteva, Inc.		7,392		384,606
Crown Holdings, Inc.		1,928		236,508
Diversey Holdings Ltd.*		754		7,216
Dow, Inc.		2,160		127,354
DuPont de Nemours, Inc.		1,058		81,857
Eagle Materials, Inc.		2,525		345,496
Eastman Chemical Co.		1,745		206,730
Ecolab, Inc.		608		107,166
Element Solutions, Inc.		3,442		84,604
FMC Corp.		669		78,440
Freeport-McMoRan, Inc.		1,788		83,947
Graphic Packaging Holding Co.		12,632		259,967
Huntsman Corp.		5,741		232,166
International Flavors & Fragrances, Inc.		1,137		151,221
International Paper Co.		6,225		270,974
Louisiana-Pacific Corp.		5,128		368,960
LyondellBasell Industries NV, Class A		591		57,463
Martin Marietta Materials, Inc.		801		303,899


	Number of Shares		Value
Materials (Continued)
Mosaic Co.		3,811	$	199,811
NewMarket Corp. (a)		108		34,318
Newmont Corp.		4,671		309,220
Nucor Corp.		5,283		695,348
Olin Corp.		638		32,863
Packaging Corp. of America		1,286		189,286
PPG Industries, Inc.		1,105		147,462
Reliance Steel & Aluminum Co.		3,773		720,153
Royal Gold, Inc.		841		101,980
RPM International, Inc.		2,133		180,388
Scotts Miracle-Gro Co.		173		24,230
Sealed Air Corp.		4,230		283,960
Sherwin-Williams Co.		911		239,711
Silgan Holdings, Inc.		2,327		97,455
Sonoco Products Co.		3,126		183,559
Southern Copper Corp.		245		17,001
Steel Dynamics, Inc.		3,809		268,839
Sylvamo Corp.*		2,545		88,820
Valvoline, Inc.		7,139		230,804
Vulcan Materials Co.		1,127		204,494
Westlake Corp.		478		52,728
Westrock Co.		3,954		178,998

(Cost $8,663,337)				10,302,767

Real Estate — 6.1%
Alexandria Real Estate Equities, Inc. REIT		1,000		189,400
American Campus Communities, Inc. REIT		969		52,142
American Homes 4 Rent, Class A REIT		2,860		108,709
American Tower Corp. REIT		400		90,748
Americold Realty Trust REIT		901		24,075
Apartment Income REIT Corp. REIT		1,669		86,137
AvalonBay Communities, Inc. REIT		1,735		413,954
Boston Properties, Inc. REIT		2,775		339,410
Brixmor Property Group, Inc. REIT		3,126		78,525
Camden Property Trust REIT		1,195		197,306
CBRE Group, Inc., Class A*		5,851		566,669
Cousins Properties, Inc. REIT		2,782		107,469
Crown Castle International Corp. REIT		705		117,446
CubeSmart REIT		5,147		248,137
CyrusOne, Inc. REIT		742		67,040
Digital Realty Trust, Inc. REIT		625		84,325
Douglas Emmett, Inc. REIT		1,599		50,688
Duke Realty Corp. REIT		4,670		247,510
Equinix, Inc. REIT		80		56,778
Equity LifeStyle Properties, Inc. REIT		3,565		266,020
Equity Residential REIT		5,159		440,063
Essex Property Trust, Inc. REIT		1,132		359,036
Extra Space Storage, Inc. REIT		2,381		447,985
Federal Realty Investment Trust REIT		849		99,825
First Industrial Realty Trust, Inc. REIT		4,471		257,440
Gaming and Leisure Properties, Inc. REIT		1,067		48,452
Healthcare Trust of America, Inc., Class A REIT		2,147		63,100
Healthpeak Properties, Inc. REIT		3,959		122,966
Highwoods Properties, Inc. REIT		4,931		214,992
Hudson Pacific Properties, Inc. REIT		969		25,582
Invitation Homes, Inc. REIT		3,538		133,736


	Number of Shares		Value
Real Estate (Continued)
Iron Mountain, Inc. REIT		7,719	$	379,620
Jones Lang LaSalle, Inc.*		1,750		430,885
Kilroy Realty Corp. REIT		1,785		127,842
Kimco Realty Corp. REIT		14,190		333,891
Lamar Advertising Co., Class A REIT		1,634		178,204
Life Storage, Inc. REIT		1,896		240,015
Medical Properties Trust, Inc. REIT		4,293		87,320
Mid-America Apartment Communities, Inc. REIT		1,242		254,126
National Retail Properties, Inc. REIT		2,123		90,461
Prologis, Inc. REIT		1,056		154,018
Public Storage REIT		1,427		506,614
Rayonier, Inc. REIT		2,052		81,464
Realty Income Corp. REIT		1,539		101,712
Regency Centers Corp. REIT		1,199		79,002
Rexford Industrial Realty, Inc. REIT		1,651		115,785
SBA Communications Corp. REIT		202		61,285
Simon Property Group, Inc. REIT		566		77,859
SL Green Realty Corp. REIT		1,819		144,647
Spirit Realty Capital, Inc. REIT		701		32,505
STORE Capital Corp. REIT		1,196		36,741
Sun Communities, Inc. REIT		670		121,270
UDR, Inc. REIT		2,331		127,902
Ventas, Inc. REIT		333		17,982
VICI Properties, Inc. REIT		5,592		156,352
Vornado Realty Trust REIT		271		11,729
Welltower, Inc. REIT		499		41,562
Weyerhaeuser Co. REIT		5,795		225,310
WP Carey, Inc. REIT (a)		2,172		168,113

(Cost $8,927,427)				9,989,881

Utilities — 5.5%
AES Corp.		8,678		184,234
Alliant Energy Corp.		3,513		205,159
Ameren Corp.		3,151		270,828
American Electric Power Co., Inc.		3,230		292,800
American Water Works Co., Inc.		1,305		197,172
Atmos Energy Corp.		427		46,889
Avangrid, Inc. (a)		840		37,691
CenterPoint Energy, Inc.		5,310		145,229
CMS Energy Corp.		3,341		213,857
Consolidated Edison, Inc.		3,799		325,840
Constellation Energy Corp.		2,926		134,538
Dominion Energy, Inc.		1,995		158,662
DTE Energy Co.		3,585		435,900


	Number of Shares		Value
Utilities (Continued)
Duke Energy Corp.		2,591	$	260,162
Edison International		2,742		173,898
Entergy Corp.		3,348		352,243
Essential Utilities, Inc.		1,271		59,877
Evergy, Inc.		6,886		429,755
Eversource Energy		2,015		164,827
Exelon Corp.		8,779		373,634
FirstEnergy Corp.		11,002		460,434
Hawaiian Electric Industries, Inc.		3,610		147,938
IDACORP, Inc.		1,691		175,779
National Fuel Gas Co.		6,786		422,361
NextEra Energy, Inc.		1,054		82,497
NiSource, Inc.		8,638		249,897
NRG Energy, Inc.		6,475		245,014
OGE Energy Corp.		4,405		165,408
Pinnacle West Capital Corp.		1,656		117,294
PPL Corp.		12,090		316,395
Public Service Enterprise Group, Inc.		5,928		384,312
Sempra Energy		1,728		249,212
Southern Co.		4,294		278,122
UGI Corp.		12,149		467,008
Vistra Corp.		14,536		331,712
WEC Energy Group, Inc.		2,366		215,022
Xcel Energy, Inc.		3,193		214,985

(Cost $8,442,058)				8,986,585

TOTAL COMMON STOCKS (Cost $145,816,693)				164,212,394

SECURITIES LENDING COLLATERAL — 0.2%
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c) (Cost $319,784)		319,784		319,784

CASH EQUIVALENTS — 0.3%
DWS Government Money Market Series “Institutional Shares”, 0.04% (b) (Cost $551,369)		551,369		551,369


TOTAL INVESTMENTS — 100.1% (Cost $146,687,846)			$	165,083,547
Other assets and liabilities, net — (0.1%)				(90,617	)

NET ASSETS — 100.0%			$	164,992,930

A summary of the Fund’s transactions with affiliated investments during the period ended February 28, 2022 is as follows:

DBX ETF Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “Act”), as an open-end registered management investment company organized as a Delaware statutory trust.

As of February 28, 2022, the Trust consists of thirty-six investment series of exchange-traded funds (“ETFs”) (each a “Fund” and collectively, the “Funds”) in operation and trading. These financial statements report on the Funds listed below:

DBX Advisors LLC (“DBX” or the “Advisor”), an indirect, wholly-owned subsidiary of DWS Group GmbH & Co. KGaA (“DWS Group”), serves as investment advisor to the Funds and has overall responsibility for the general management and administration of the Funds, subject to the supervision of the Funds’ Board of Trustees (“Board”).

Each Fund offers shares that are listed and traded on the NYSE Arca, Inc. (“NYSE Arca”). Unlike conventional mutual funds, each Fund issues and redeems shares on a continuous basis, at net asset value (“NAV”), only in large specified lots consisting of 50,000 shares, except for Xtrackers MSCI Kokusai Equity ETF which lots consist of 10,000 shares effective February 24, 2022, each called a “Creation Unit”, to authorized participants who have entered into agreements with the Funds’ distributor. Shares are not individually redeemable securities of the Funds, and owners of the shares may acquire those shares from the Funds, or tender such shares for redemption to the Funds, in Creation Units only.

The investment objective of each Fund is to track the performance, before fees and expenses, of a particular index (the “Underlying Index”). The underlying indices for the Funds are:

The FTSE Developed ex US Comprehensive Factor is designed to track the equity market performance of companies in developed countries (except the United States) selected on the investment style criteria (“factors”) of value, momentum, quality, low volatility and size. The companies eligible for the Underlying Index are derived from its starting universe, the FTSE Developed ex US Index, which is comprised of large- and mid-capitalization equity securities from developed markets (except the United States). The Underlying Index is rebalanced semiannually in March and September after the close of business on the third Friday of the review month.

The MSCI Kokusai Index, also known as the MSCI World ex Japan Index, is designed to track the performance of equity markets in developed markets (excluding Japan). The index is reviewed quarterly in February, May, August and November, with the objective of reflecting change in the underlying equity markets in a timely manner, while limiting undue index turnover. During the May and November semi-annual index reviews, the index is rebalanced and the large and mid capitalization cutoff points are recalculated.

The Russell 1000 2Qual/Val 5% Capped Factor Index is designed to track the equity market performance of companies in the United States selected on the investment style criteria (“factors”) of quality and value. The companies eligible for the Underlying Index are derived from its starting universe, the Russell 1000 Index, which is comprised of large-cap equity securities from issuers in the United States. The Underlying Index is rebalanced annually in June after the close of business on the third Friday of the review month. Upon a rebalancing, no issuer in the Underlying Index may represent more than 5% of the Underlying Index. In the event an issuer represents more than 5% of the Underlying Index at a rebalancing, such amount in excess of 5% shall be reallocated pro-rata to the other issuers in the Underlying Index.

The Russell 1000 Comprehensive Factor Index is designed to track the equity market performance of companies in the United States selected on the investment style criteria (“factors”) of value, momentum, quality, low volatility and size. The companies eligible for the Underlying Index are derived from its starting universe, the Russell 1000 Index, which is comprised of large-cap equity securities from issuers in the United States. The Underlying Index is rebalanced semiannually in June and December after the close of business on the third Friday of the review month.

Each Fund is entitled to use its respective Underlying Index pursuant to a licensing agreement between the Index Provider and DBX. There is no charge to the Funds in connection with these licensing agreements.

Each Fund, except Xtrackers MSCI Kokusai Equity ETF is diversified. Xtrackers MSCI Kokusai Equity ETF is non-diversified and is not limited by the Act with regard to the percentage of its assets that may be invested in the securities of a single issuer. This means the securities of a particular issuer (or securities of issuers in particular industries) may dominate the Underlying Index of the Fund and, consequently, the Fund’s investment portfolio. This may adversely affect the Fund’s performance or subject the Fund’s shares to greater price volatility than that experienced by more diversified investment companies. Each Fund may change its diversification status over time and then change it back again, without shareholder approval, solely as a result of a change in relative market capitalization or index weighting of one or more constituents of the index each Fund tracks.

Pursuant to the Trust’s organizational documents, the Trust’s officers and trustees are indemnified against certain liabilities that may arise out of the performance of their duties to the Funds. Additionally, in the normal course of business the Trust enters into contracts that contain a variety of representations that provide indemnification for certain liabilities. The Trust’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Trust expects the risk of loss to be remote.

The financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”), which require management to make certain estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Each Fund qualifies as an investment company under Topic 946 of the Accounting Standards Codification of U.S. GAAP. The following is a summary of significant accounting policies followed by the Funds.

Security Valuation The NAV of each Fund’s shares is calculated each business day as of the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time. NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding.

Various inputs are used in determining the value of the Funds’ investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, and credit risk). Level 3 includes significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.

Equity securities and ETFs are valued at the most recent sale price or official closing price reported on the exchange (U.S. or foreign) or over-the-counter market on which they trade. Securities or ETFs for which no sales are reported are valued at the calculated mean between the most recent bid and asked quotations on the relevant market or, if a mean cannot be determined, at the most recent bid quotation. Equity securities and ETFs are generally categorized as Level 1.

Corporate and sovereign debt securities are valued at prices supplied by independent pricing services approved by the Funds’ Board. Such services may use various pricing techniques which take into account appropriate factors such as yield, quality, coupon rate, maturity, type of issue, trading characteristics and other data, as well as broker quotes. If the pricing services are unable to provide valuations, securities are valued at the mean between the bid and ask quotations or evaluated prices, as applicable, obtained from broker dealers. These securities are generally categorized as Level 2.

Investments in open-end investment companies are valued at their NAV each business day and are categorized as Level 1.

Futures contracts are generally valued at the settlement prices established each day on the exchange on which they are traded and are categorized as Level 1.

Securities and other assets for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued in a manner that is intended to reflect their fair value as determined in accordance with procedures approved by the Board and are generally categorized as Level 3. In accordance with the Funds’ valuation procedures, factors considered in determining value may include, but are not limited to, the type of the security; the size of the holding; the initial cost of the security; the existence of any contractual restrictions on the security’s disposition; the price and extent of public trading in similar securities of the issuer or of comparable companies; quotations or evaluated prices from broker-dealers and/or pricing services; information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities); an analysis of the company’s or issuer’s financial statements; an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold; and with respect to debt securities, the maturity, coupon, creditworthiness, currency denomination and the movement of the market in which the security is normally traded. The value determined under these procedures may differ from published values for the same securities.

Fair value pricing could result in a difference between the prices used to calculate a Fund’s NAV and the prices used by the Fund’s Underlying Index, which in turn could result in a difference between the Fund’s performance and the performance of the Fund’s Underlying Index.

Disclosure about the classification of the fair value measurements is included in a table following the Fund’s Schedule of Investments.

Cash Cash consists of cash held at banks and is on deposit with major financial institutions.

Investment Transactions and Investment Income Investment transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses from the sale or disposition of securities are calculated on the identified cost-method. Dividend income is net of any foreign taxes withheld at source. Certain dividends from foreign securities may be recorded subsequent to the ex-dividend date as soon as the Fund is informed of such dividends. Interest income is recorded on the accrual basis. Distributions received from foreign domiciled corporations, generally determined to be passive foreign investment companies for tax reporting purposes, are included in dividend income.

Tax Information and Dividends and Distributions to Shareholders It is each Fund’s policy to comply with all requirements of the Internal Revenue Code of 1986, as amended (“the Code”). Each Fund intends to qualify for and to elect treatment as a separate Regulated Investment Company (“RIC”) under Subchapter M of the Code. It is the policy of each Fund to pay out dividends from its net investment income, if any, to investors quarterly. Taxable net realized gains from investment transactions, reduced by capital loss carryforwards, if any, are declared and distributed to shareholders at least annually. The capital loss carryforward amount, if any, is available to offset future net capital gains. The Funds may occasionally be required to make supplemental distributions at some other time during the year. The Funds reserve the right to declare special distributions if, in their reasonable discretion, such action is necessary or advisable to preserve the status of each Fund as a RIC or to avoid imposition of income or excise taxes on undistributed income. Dividends and distributions to shareholders, if any, are recorded on the ex-dividend date. The amount of dividends and distributions from net investment income and net realized capital gains are determined in accordance with Federal income tax regulations which may differ from U.S. GAAP. These “book/tax” differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified at the end of the year within the components of net assets based on their federal tax treatment; temporary differences do not require reclassification. Dividends and distributions, which exceed earnings and profits for the full year for tax purposes, are reported as a tax return of capital.

In accordance with U.S. GAAP requirements regarding accounting for uncertainties in income taxes, management has analyzed the Funds’ tax positions taken or expected to be taken on foreign, federal and state income tax returns for all open tax years and has concluded that no provision for income tax is required in the Funds’ financial statements.

The Funds recognize interest and penalties, if any, related to uncertain tax positions as income tax expense on the Statements of Operations. For the period ended February 28, 2022, the Funds did not incur any interest or penalties.

At August 31, 2021, for Federal income tax purposes, the Funds have capital loss carryforwards available as shown in the table below, to the extent provided by regulations, to offset future capital gains for an unlimited period. To the extent that these loss carryforwards are used to offset future capital gains, it is probable that the capital gains so offset will not be distributed to shareholders.

As of August 31, 2021, the aggregate cost of investments for federal income tax purposes, the net unrealized appreciation or (depreciation) and the aggregated gross unrealized appreciation (depreciation) on investments were as follows:

The tax character of current year distributions will be determined at the end of the current fiscal year.

Foreign Taxes The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, capital gains on investments, certain foreign currency transactions or other corporate events. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the Funds invest. These foreign taxes, if any, are paid by the Funds and are reflected in their Statements of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on capital gains from sales of investments and foreign currency transactions are included in their respective net realized gain (loss) categories, and deferred foreign taxes on unrealized gains are included in net change in unrealized appreciation (depreciation). Receivables and payables related to foreign taxes as of February 28, 2022, if any, are disclosed in the Funds’ Statements of Assets and Liabilities.

Foreign Currency Translations The books and records of the Funds are maintained in U.S. dollars. Investment securities and other assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the prevailing exchange rates at period end. Purchases and sales of investment securities, income and expenses are translated into U.S. dollars at the prevailing exchange rates on the respective dates of the transactions.

Net realized and unrealized gains and losses on foreign currency transactions represent net gains and losses between trade and settlement dates on securities transactions, the acquisition and disposition of foreign currencies, and the difference between the amount of net investment income accrued and the U.S. dollar amount actually received. The portion of both realized and unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed, but is included with net realized and unrealized gain/appreciation and loss/depreciation on investments.

Securities Lending The Funds may lend securities to certain financial institutions under the terms of their securities lending agreement. During the term of the loans, the Funds continue to receive interest and dividends generated by the securities and to participate in any changes in their market value. The Funds require the

borrowers of the securities to maintain collateral with the Funds consisting of cash and/or securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities having a value at least equal to the value of the securities loaned. When the collateral falls below specified amounts, the lending agent will use its best effort to obtain additional collateral on the next business day to meet required amounts under the securities lending agreement. During the period ended February 28, 2022, the Funds invested the cash collateral into a joint trading account in DWS Government & Agency Securities Portfolio, an affiliated money market fund managed by DWS Investment Management Americas, Inc. DWS Investment Management Americas, Inc. receives a management/administration fee (0.06% annualized effective rate as of February 28, 2022) on the cash collateral invested in DWS Government & Agency Securities Portfolio. The Funds receive compensation for lending their securities either in the form of fees or by earning interest on invested cash collateral, net of borrower rebates and fees paid to a lending agent. Either the Fund or the borrower may terminate the loan at any time and the borrower, after notice, is required to return borrowed securities within a standard time period. There may be risks of delay and costs in recovery of securities or even loss of rights in the collateral should the borrower of the securities fail financially. If the Funds are not able to recover securities lent, the Funds may sell the collateral and purchase a replacement investment in the market, incurring the risk that the value of the replacement security is greater than the value of the collateral. The Funds are also subject to all investment risks associated with the reinvestment of any cash collateral received, including, but not limited to, interest rate, credit and liquidity risk associated with such investments.

As of February 28, 2022, the Funds listed below had securities on loan. The value of the related collateral exceeded the value of the securities loaned at year end.

Futures Contracts Each Fund may enter into futures contracts. These futures contracts will be used to simulate investment in the respective Underlying Index, to facilitate trading or to reduce transaction costs. Each Fund will enter into futures contracts that are traded on a U.S. or non-U.S. exchange. No Fund will use futures for speculative purposes. Futures contracts provide for the future sale by one party and purchase by another party of a specified amount of a specific instrument or index at a specified future time and at a specified price. For the period ended February 28, 2022, Xtrackers FTSE Developed ex US Multifactor ETF, Xtrackers MSCI Kokusai Equity ETF, Xtrackers Russell 1000 US Quality at a Reasonable Price ETF and Xtrackers Russell US Multifactor ETF utilized futures in order to simulate investment in the Underlying Index. To the extent required by law, liquid assets committed to futures contracts will be maintained.

At the time each Fund enters into a futures contract, each Fund deposits and maintains as collateral an initial margin with the broker, as required by the exchange on which the transaction is affected. Pursuant to the contract, each Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in

the value of the contract. Such receipts or payments are known as variation margin and are recorded by each Fund as unrealized gains or losses. Risks may arise from the potential inability of a counterparty to meet the terms of the contract. The credit/counterparty risk for exchange-traded futures contracts is generally less than privately negotiated futures contracts, since the clearinghouse, which is the issuer or counterparty to each exchange-traded future, provides a guarantee of performance. The guarantee is supported by a daily payment system (i.e., margin requirements).

Use of long futures contracts subjects each Fund to risk of loss in excess of the amounts shown on the Statement of Assets and Liabilities, up to the notional value of the futures contracts. Use of short futures contracts subjects each Fund to unlimited risk of loss. Under some circumstances, futures exchanges may establish daily limits on the amount that the price of a futures contract can vary from the previous day’s settlement price, which could effectively prevent liquidation of unfavorable positions.

A summary of the open futures contracts as of February 28, 2022 is included in a table following the Funds’ Schedule of Investments.

The following tables summarize the value of the Funds’ derivative instruments held as of February 28, 2022 and the related location in the accompanying Statement of Assets and Liabilities, presented by primary underlying risk exposure:

Additionally, the amount of realized and unrealized gains and losses on derivative instruments recognized in the Funds’ earnings during the period ended February 28, 2022 and the related location in the accompanying Statement of Operations is summarized in the following tables by primary underlying risk exposure:

For the period ended February 28, 2022 the average monthly volume of derivatives was as follows:

Affiliated Cash Management Vehicles The Funds may invest uninvested cash balances in DWS Government Money Market Series and DWS ESG Liquidity Fund, affiliated money market funds which are managed by DWS Investment Management Americas, Inc. (“DIMA”), also an indirect, wholly owned subsidiary of DWS Group GmbH & Co. KGaA. Each affiliated money market fund is managed in accordance with Rule 2a-7 under the 1940 Act, which governs the quality, maturity, diversity and liquidity of instruments in which a money market fund may invest. DWS Government Money Market Series seeks to maintain a stable NAV, and DWS ESG Liquidity Fund maintains a floating NAV. The Funds indirectly bear their proportionate share of the expenses of each affiliated money market fund in which they invest. The Advisor will waive an amount of the unitary advisory fee payable to the Advisor by the Funds equal to such acquired fund’s fees and expenses on the Funds’ assets invested in the affiliated money market funds.

The Advisor has overall responsibility for the general management and administration of the Funds, subject to the supervision of the Funds’ Board of Trustees. Under an investment advisory agreement between the Trust, on behalf of the Funds, and the Advisor (the “Investment Advisory Agreement”), the Advisor is responsible for arranging sub-advisory, transfer agency, custody, fund administration, and all other non-distribution related services for the Funds to operate.

For its investment advisory services to the Funds below, the Advisor is entitled to receive a unitary advisory fee from each Fund based on each Fund’s average daily net assets, computed and accrued daily and payable monthly, at an annual rate equal to:

The Advisor for Xtrackers FTSE Developed ex US Multifactor ETF has contractually agreed, until December 16, 2022, to waive a portion of its unitary advisory fee to the extent necessary to prevent the operating expenses of the Fund (excluding interest expense, taxes, brokerage expenses, distribution fees or expenses, litigation expenses and other extraordinary expenses) from exceeding 0.24% of the Fund’s average daily net assets. For the period ended February 28, 2022, the Advisor waived $36,199 of expenses to the Fund.

The Advisor for the Funds below has contractually agreed to waive a portion of its unitary advisory fee in an amount equal to the acquired fund’s fees and expenses attributable to the Funds’ investments in affiliated Funds. For the period ended February 28, 2022, the Advisor waived expenses of the Funds as follows:

Out of the unitary advisory fee, the Advisor pays substantially all expenses of each Fund, including the cost of transfer agency, custody, fund administration, legal, audit and other services, and expenses of the Independent Trustees. Each Fund is responsible for the payment of interest expense, acquired fund fees and expenses, taxes, brokerage expenses, distribution fees or expenses, if any, litigation expenses and extraordinary expenses.

The Bank of New York Mellon, a wholly-owned subsidiary of The Bank of New York Mellon Corporation, serves as Administrator, Custodian, Accounting Agent, Lending Agent and Transfer Agent for each Fund.

ALPS Distributors, Inc. (the “Distributor”) serves as the distributor of Creation Units for each Fund on an agency basis. The Distributor does not maintain a secondary market in shares of the Funds.

The Board of Trustees is currently comprised of three Independent Trustees. The Advisor paid retainer fees and attendance fees to each Independent Trustee; retainer fees to the Chairman of the Board of Trustees and Chairman of the Audit Committee; and attendance fees to each member of the Audit Committee (which is comprised of all of the Funds’ Independent Trustees).

For the period ended February 28, 2022, the cost of investments purchased and proceeds from sale of investments (excluding in-kind transactions and short-term investments) were as follows:

For the period ended February 28, 2022, the cost of in-kind purchases and proceeds from in-kind sales were as follows:

As of February 28, 2022, there were unlimited Fund shares, no par value, authorized by the Trust. Fund shares are issued and redeemed by each Fund only in Creation Units or multiples thereof. Except when aggregated in Creation Units, shares of each Fund are not redeemable. Transactions in capital shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets. The consideration for the purchase of Creation Units of a Fund generally consists of the in-kind contribution of a designated portfolio of securities constituting a portfolio sampling representation of the securities included in the respective Fund’s Underlying Index and an amount of cash, which under certain circumstances may include cash in lieu of portfolio securities. Investors purchasing and redeeming Creation Units pay a purchase transaction fee and a redemption transaction fee to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units.

A novel coronavirus known as COVID-19, declared a pandemic by the World Health Organization, has caused significant uncertainty, market volatility, decreased economic and other activity, increased government activity, including economic stimulus measures, and supply chain interruptions. The full effects, duration and costs of the COVID-19 pandemic are impossible to predict, and the circumstances surrounding the COVID-19 pandemic will continue to evolve, including the risk of future increased rates of infection due to low vaccination rates and/or the lack of effectiveness of current vaccines against new variants. The pandemic has affected and may continue to affect certain countries, industries, economic sectors, companies and investment products more than others, may exacerbate existing economic, political, or social tensions and may increase the probability of an economic recession or depression. The Funds’ and their investments may be adversely affected by the effects of the COVID-19 pandemic, and the pandemic may result in the Funds and their service providers experiencing operational difficulties in coordinating a remote workforce and implementing their business continuity plans, among others. Management will continue to monitor the impact COVID-19 has on the Funds and reflect the consequences as appropriate in the Funds’ accounting and financial reporting.

In accordance with Rule 22e-4 (the “Liquidity Rule”) under the Investment Company Act of 1940 (the “1940 Act”), your Fund has adopted a liquidity risk management program (the “Program”), and the Board has designated DBX Advisors LLC (“Advisors”) as Program administrator. The Program is designed to assess and manage your Fund’s liquidity risk (the risk that the Fund would be unable to meet requests to redeem shares of the Fund without significant dilution of remaining investors’ interests in the Fund). Advisors has designated a committee (the “Committee”) composed of personnel from multiple departments within an affiliate of Advisors that is responsible for the implementation and ongoing administration of the Program, which includes assessing the Fund’s liquidity risk under both normal and reasonably foreseeable stressed conditions. Under the Program, every investment held by a Fund is classified on a daily basis into one of four liquidity categories based on estimations of the investment’s ability to be sold during designated timeframes in current market conditions without significantly changing the investment’s market value.

In February 2022, as required by the Program and the Liquidity Rule, Advisors provided the Board with an annual written report (the “Report”) addressing the operation of the Program and assessing the adequacy and effectiveness of its implementation during the period from December 1, 2020 through November 30, 2021 (the “Reporting Period”). During the Reporting Period, your Fund was primarily invested in highly liquid investments (investments that the Fund anticipates can be converted to cash within 3 business days or less in current market conditions without significantly changing their market value). As a result, your Fund is not required to adopt, and has not adopted, a “Highly Liquid Investment Minimum” as defined in the Liquidity Rule. During the Reporting Period, the Fund did not approach the 15% limit imposed by the Liquidity Rule on holdings in illiquid investments (investments that cannot be sold or disposed of in seven days or less in current market conditions without the sale of the investment significantly changing the market value of the investment). Your Fund did not experience any issues meeting investor redemptions at any time during the Reporting Period. In the Report, Advisors stated that it believes the Program has operated adequately and effectively to manage the Fund’s liquidity risk during the Reporting Period. Advisors also reported that there were no material changes made to the Program during the Reporting Period.

Xtrackers FTSE Developed ex US Multifactor ETF, Xtrackers MSCI Kokusai Equity ETF, Xtrackers Russell 1000 US Quality at a Reasonable Price ETF, and Xtrackers Russell US Multifactor ETF

After discussions at the meeting of the Board of Trustees (“Board” or “Trustees”) held on February 16-17, 2022 (the “Meeting”), the Trustees, all of whom are the Independent Trustees (those not affiliated with DBX ETF Trust (the “Trust”) or its service providers), unanimously approved the continuance of the Investment Advisory Agreement with respect to Xtrackers FTSE Developed ex US Multifactor ETF, Xtrackers MSCI Kokusai Equity ETF, Xtrackers Russell 1000 US Quality at a Reasonable Price ETF, and Xtrackers Russell US Multifactor ETF (each a “Fund,” and collectively, the “Funds”). The Independent Trustees were advised throughout the review and Meeting by K&L Gates LLP (“Independent Trustee Counsel”).

Before reaching their decision to approve the Investment Advisory Agreement for another annual period, the Independent Trustees evaluated the materials furnished to them in advance of the Meeting from DBX Advisors LLC (“DBX” or the “Advisor”) for purposes of reviewing the agreement’s terms, including statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”) regarding (a) fee and expense information for each Fund (including the fee and expense components and any amounts waived or reimbursed) as compared to a peer group of other exchange-traded funds (“ETFs”) selected pursuant to Broadridge’s proprietary methodology (each, a “Peer Group”) and (b) each Fund’s tracking error as compared to its underlying index over the previous five years (or since inception, if shorter). The Independent Trustees also took into consideration the discussions they had with management during the Meeting and among themselves during their Executive Sessions held on February 16 and February 17, 2022. The Independent Trustees also noted that they had received and should take into consideration a substantial amount of information furnished throughout the year at regular Board meetings, which information included, among other things, an analysis of each Fund’s investment performance, tracking error and related financial information, presentations given by DBX, as well as its periodic reports on brokerage commissions, portfolio execution and other services provided to the Funds.

In reaching its decision to continue in effect the Investment Advisory Agreement for another annual period, the Board considered all factors it believed relevant, including (1) the nature, extent and quality of the services provided to the Funds and their shareholders; (2) the financial resources of DBX and its resulting ability to perform its obligations under the Investment Advisory Agreement; (3) the competitiveness of the advisory fee; (4) the total cost of the services provided by and the profits realized by the Advisor from its relationship with the Funds; (5) the extent to which economies of scale have been realized, and if the Funds’ shareholders have benefitted from those economies; and (6) fall out benefits, if any, enjoyed by the Advisor.

The Board reached a determination, with the assistance of Independent Trustee Counsel and Vedder Price P.C. (“Trust Counsel”) and through the exercise of its business judgment, that approval of the Investment Advisory Agreement and the compensation to be received thereunder is in the best interests of each Fund and its shareholders as well as consistent with the Board’s duties under state and federal law. The Board reached this conclusion based on multiple factors.

The Board considered the following in determining whether to approve the Investment Advisory Agreement:

Nature, Extent and Quality of Services. The Board reviewed in detail the nature, extent and quality of services provided and the risks incurred by the Advisor under the Investment Advisory Agreement. In doing so, the Board considered the information it had received from and the discussions it had with the Advisor continuously during the prior year, in addition to the information the Advisor had provided in response to the Board’s requests prior to the Meeting. The Board considered that these services include, among other things, furnishing a continuous investment program for the Funds, including arranging for, or implementing, the purchase and sale of portfolio securities, the provision of general corporate services such as portfolio management compliance services and the preparation and filing of certain reports on behalf of the Trust. The Board also considered, among other things, the professional experience, qualifications and performance of the senior management and key professional personnel of the Advisor, including portfolio management.

The Board considered that the Advisor provides, at its own expense, office facilities and equipment for use by the Funds and supervisory persons responsible for supervising and monitoring the Trust’s service providers. The Board also considered that the Advisor pays or arranges for the compensation of officers of the Trust who are also officers or employees of the Advisor or one of its DWS Group affiliates, except as may otherwise be determined by the Board. In addition, the Board considered that the Advisor arranges for the provision of transfer agency, custody, fund administration and accounting, and other non-distribution services necessary for the Funds’ operations. The Board also considered that in addition to managing the Funds’ portfolios directly, the Advisor provides oversight of day-to-day operations, including monitoring tracking error, providing services in connection with the creation and redemption of creation units and assistance in meeting legal, compliance and regulatory requirements applicable to the Funds.

The Board considered the information regarding each Fund’s tracking error compared to its underlying index that had been provided by the Advisor and by Broadridge. The Board took note of the detailed information provided by the Advisor throughout the year with respect to each Fund’s tracking error and the sources thereof. The Trustees noted that tracking error for each Fund during the year was in an expected range.

Based on its review, the Board concluded that the nature, extent, and quality of services provided by the Advisor under the Investment Advisory Agreement are reasonable and appropriate in relation to the fees paid to the Advisor, taking special consideration of the fact that the advisory fee is a unitary fee and, as a result, a portion of the unitary advisory fee will be used to compensate the Funds’ service providers. The Board considered the staffing of the Advisor, including the training, qualifications and experience of investment personnel in managing the Funds. The Board also considered the expertise of the Advisor in supervising third party service providers to the Funds, such as the administrator and the custodian, noting the Advisor’s extensive work with these service providers (including onsite due diligence sessions) to conduct such supervision. The Board further considered the compliance program of the Advisor, which supports the Funds’ compliance program.

Advisor’s Financial Resources. In connection with the assessment of the ability of the Advisor to perform its duties under the Investment Advisory Agreement, the Board considered the Advisor’s financial condition and whether it has the resources necessary to carry out its functions. The Board concluded that the Advisor has the financial resources necessary to perform its obligations under the Investment Advisory Agreement.

Reasonableness of Advisory Fee. The Board compared each Fund’s advisory fee and total expenses to those of the other ETFs in its Peer Group. The Board noted that due to the special characteristics of certain Funds, there were limitations faced by Broadridge in providing comparable funds in the Peer Groups and the information in the Broadridge reports accordingly may or may not provide meaningful direct comparisons to the Funds. The Board also noted that the advisory fees and total expenses (after waivers/reimbursements) for many of the Funds were below or equal to the average and/or median of the ETFs in each Fund’s respective Peer Group compiled by Broadridge, but the following Fund had advisory fees and/or total expenses (after waivers/reimbursements) that were above the average and/or median of its respective Peer Group:

The Board considered, however, the following additional factors in connection with the following Fund:

The Board accordingly noted that each Fund’s fee is competitive with the fees of applicable peer ETFs.

The Board considered that the fee for each of the Funds is a unitary fee pursuant to which the Advisor pays all of the Funds’ costs (subject to certain specified exceptions). The Board considered that each Fund’s fee had been priced to scale when it was established. The Board also considered that each Fund’s portfolio is managed on a day-to-day basis by the Advisor and that the Advisor also provides oversight of day-to-day operations, including monitoring tracking error, providing services in connection with creation and redemption units and assistance in meeting legal and regulatory requirements applicable to the Funds. Based on its review, the Board concluded that the advisory fee for each Fund is reasonable in light of the services provided.

Costs of Services and Profitability. The Board considered the expenses of the Advisor in developing and rendering services provided to the Funds and the information provided by the Advisor to the Board regarding the Funds’ profitability. The Board considered that the Advisor had provided extensive information about the Advisor’s profitability and the Advisor’s methodology in determining profitability. While the Advisor had provided information about the Advisor’s expenses relating to marketing the Funds, the Board considered the Advisor’s profitability without accounting for such expenses. The Board determined that, although only some of the Funds were profitable as of this time, the Advisor’s profitability with respect to each profitable Fund was not excessive. The Board considered whether the Advisor would benefit in other ways from its relationships with the Funds and concluded that there were no material fall-out benefits likely to accrue to the Advisor related to the operation of the Funds.

Economies of Scale. The Board considered that certain Funds had attracted a substantial amount of assets, but determined that those Funds were not experiencing economies of scale beyond what was reflected in each Fund’s unitary fee, which the Board noted was very competitive. The Board considered that the other Funds were not experiencing economies of scale at this time and determined to revisit this matter after the Funds had attracted more assets.

Given all the information available to it and considering all material factors, the Board concluded that the Investment Advisory Agreement was fair and reasonable and it was unanimously approved.

The Funds’ policies and procedures for voting proxies for portfolio securities and information about how each Fund voted proxies related to its portfolio securities during the most recent 12-month period ended June 30 are available on our Web site — www.Xtrackers.com (click on “Resources” and “Proxy Voting” at the top of the page) — or on the SEC’s Web site — www.sec.gov. To obtain a written copy of the Funds’ policies and procedures without charge, upon request, call us toll free at (855) 329-3837.

The Funds are required to file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters on Form N-PORT. Copies of the filings are available without charge, upon request on the SEC’s website at www.sec.gov and are available by calling the Trust at 855-329-3837.

Information about each Fund’s portfolio holdings is available daily at www.Xtrackers.com.

Information regarding how often shares of each Fund traded on NYSE Arca at a price above (i.e., at a premium) or below (i.e., at a discount) the NAV of the Fund can be found at www.Xtrackers.com.

DBX Advisors LLC (“Advisors”) collects non-public information about you from the following sources: (i) information received from you on applications or other forms; and (ii) information about your transactions with the Advisors, Advisors’ affiliates and third-party service providers and vendors. Advisors does not disclose any non-public personal information about you to anyone, other than as set forth below, as permitted by applicable law and regulation. Advisors may disclose non-public personal information about you to the funds in which you invest, to Advisors’ affiliates, and to non-affiliated companies that work with Advisors to service your account(s), or to provide services or process transactions that you have requested. Advisors may disclose non-public personal information in situations that may include, but are not limited to, in response to legal and/or regulatory inquiries and the proposed or actual sale, assignment merger or other transfer of all or a portion of Advisors’ business to another business entity. Advisors may also disclose non-public personal information about you to parties representing you, such as your investment representative, your accountant, your tax advisor, or to other third parties at your direction/consent. Advisors will not sell, rent, license or trade your personal and financial information to or with third parties for their own direct marketing use unless you give us general or specific consent to do so. If you decide to close your account(s) or become an inactive customer, Advisors will adhere to the privacy policies and practices as described in this notice. Advisors restricts access to your personal and account information to those employees who need to know that information to provide products and services to you. Advisors maintains reasonable and customary physical, electronic and procedural safeguards to guard your non-public personal information.

California residents may go to https://fundsus.dws.com/us/en-us/legal-resources/privacy-policy.html to obtain additional information relating to their rights under California state law.

Advisors reserves the right, at their discretion, to change, modify, add, or remove portions of this Privacy Policy Notice, and any of the policies described herein, at any time. Advisors will indicate any such changes to the Privacy Policy Notice at the privacy link which can be found at www.Xtrackers.com. At all times, you are bound by the then-current version of the Privacy Policy and all applicable laws. Advisors highly recommends that you review this Privacy Policy Notice from time to time to ensure that you are familiar with the most recent version. The examples contained in this Privacy Policy Notice are illustrations; they are not intended to be exclusive.

Investing involves risk, including the possible loss of principal. Stocks may decline in value. Foreign investing involves greater and different risks than investing in U.S. companies, including currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards. Funds investing in a single industry, country or in a limited geographic region, generally are more volatile than more diversified funds. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. Because the Funds seek to provide exposure to stocks based on the following multifactors — value, momentum, quality, low volatility and size — it is expected, exposure to such investment factors will detract from performance in some market environments, as more fully explained in the Funds’ prospectus. KOKU is currently non-diversified and can take larger positions in fewer issues, increasing its potential risk. Performance of a Fund may diverge from that of its Underlying Index due to operating expenses, transaction costs, cash flows, use of sampling strategies or operational inefficiencies. An investment in any Fund should be considered only as a supplement to a complete investment program for those investors willing to accept the risks associated with that Fund. Please read the prospectus for more information.

War, terrorism, sanctions, economic uncertainty, trade disputes, public health crises and related geopolitical events have led, and, in the future, may lead to significant disruptions in U.S. and world economies and markets, which may lead to increased market volatility and may have significant adverse effects on the Funds and its investments.

Shares of the Funds are bought and sold at market price (not NAV) throughout the day on the NYSE Arca, Inc. Transactions in Fund shares may result in brokerage commissions and may generate tax consequences. There can be no assurance that an active trading market for shares of a Fund will develop or be maintained.

DBX ETF Trust Funds are distributed by ALPS Distributors, Inc. (“ALPS”). The Funds are managed by DBX Advisors LLC which is not affiliated with ALPS.

The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or DWS Investment Management Americas, Inc. and RREEF America L.L.C. which offer advisory services.

DEEF, DEUS and QARP have been developed solely by DBX Advisors LLC. The Funds are not in any way connected to or sponsored, endorsed, issued, sold or promoted by the London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). FTSE Russell is a trading name of certain of the LSE Group companies.

All rights in the FTSE Developed ex US Comprehensive Factor Index, Russell 1000 Comprehensive Factor Index and Russell 1000 2Qual/Val 5% Capped Factor Index vest in the relevant LSE Group company which owns the Indexes. “FTSE^®” “Russell^®” and “FTSE Russell^®” are a trademarks of the relevant LSE Group company and are used by any other LSE Group company under license.

The Index is calculated by or on behalf of FTSE International Limited or its affiliate, agent or partner. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) investment in or operation of the Funds. The LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from the Funds or the suitability of the Indexes for the purpose to which it is being put by DBX Advisors LLC.

KOKU is not sponsored, endorsed, issued, sold or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The Prospectus contains a more detailed description of the limited relationship MSCI has with DBX Advisors LLC and any related funds.

Copyright © 2022 DWS Group. All rights reserved. Xtrackers^TM is a trademark of DWS Investment GmbH. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.


Description	% of Net Assets
SSE PLC (United Kingdom)		0.6%
Telefonica SA (Spain)		0.6%
Medibank Pvt Ltd. (Australia)		0.6%
Kinnevik AB (Sweden)		0.5%
Segro PLC (United Kingdom)		0.5%
B&M European Value Retail SA (United Kingdom)		0.5%
Daito Trust Construction Co. Ltd. (Japan)		0.5%
Bank Leumi Le-Israel BM (Israel)		0.5%
J Sainsbury PLC (United Kingdom)		0.5%
Skanska AB (Sweden)		0.5%



Apple, Inc. (United States)			5.0%
Microsoft Corp. (United States)			4.0%
Alphabet, Inc. (United States)			3.0%
Amazon.com, Inc. (United States)			2.6%
Tesla, Inc. (United States)			1.4%
NVIDIA Corp. (United States)			1.1%
Meta Platforms, Inc. (United States)			0.9%
UnitedHealth Group, Inc. (United States)			0.8%
Johnson & Johnson (United States)			0.8%
JPMorgan Chase & Co. (United States)			0.8%


	Beginning Account Value September 1, 2021		Ending Account Value February 28, 2022		Annualized Expense Ratio			Expenses Paid During the Period Per $1,000⁽¹⁾
Xtrackers FTSE Developed ex US Multifactor ETF
Actual	$	1,000.00	$	928.10		0.24	%	$	1.15
Hypothetical (5% return before expenses)	$	1,000.00	$	1,023.61		0.24	%	$	1.20
Xtrackers MSCI Kokusai Equity ETF
Actual	$	1,000.00	$	956.60		0.09	%	$	0.44
Hypothetical (5% return before expenses)	$	1,000.00	$	1,024.35		0.09	%	$	0.45
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF
Actual	$	1,000.00	$	976.10		0.19	%	$	0.93
Hypothetical (5% return before expenses)	$	1,000.00	$	1,023.85		0.19	%	$	0.95
Xtrackers Russell US Multifactor ETF
Actual	$	1,000.00	$	969.90		0.17	%	$	0.83
Hypothetical (5% return before expenses)	$	1,000.00	$	1,023.95		0.17	%	$	0.85


	Value ($) at 8/31/2021		Purchases Cost ($)		Sales Proceeds ($)			Net Realized Gain/(Loss) ($)		Net Change in Unrealized Appreciation (Depreciation) ($)		Income ($)		Capital Gain Distributions ($)		Number of Shares at 2/28/2022		Value ($) at 2/28/2022
SECURITIES LENDING COLLATERAL — 1.3%
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (d)(e)
		990,427		—		(22,772	) (f)		—		—		39		—		967,655		967,655

CASH EQUIVALENTS — 0.0%
DWS Government Money Market Series “Institutional Shares”, 0.04% (d)
		6,186		1,350,019		(1,340,453	)		—		—		8		—		15,752		15,752

		996,613		1,350,019		(1,363,225	)		—		—		47		—		983,407		983,407


	Page
Shareholder Letter		1
Portfolio Summary
Xtrackers FTSE Developed ex US Multifactor ETF		2
Xtrackers MSCI Kokusai Equity ETF		3
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF		4
Xtrackers Russell US Multifactor ETF		5
Fees and Expenses		6
Schedule of Investments
Xtrackers FTSE Developed ex US Multifactor ETF		7
Xtrackers MSCI Kokusai Equity ETF		21
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF		35
Xtrackers Russell US Multifactor ETF		40
Statements of Assets and Liabilities		50
Statements of Operations		51
Statements of Changes in Net Assets		52
Financial Highlights		54
Notes to Financial Statements		56
Liquidity Risk Management		64
Board Consideration in Approval of Investment Advisory Contracts		65
Additional Information		68
Privacy Policy Notice		69


Industrials			21.0%
Financials			14.0%
Materials			12.8%
Consumer Staples			10.7%
Consumer Discretionary			9.0%
Real Estate			7.5%
Utilities			7.0%
Communication Services			6.9%
Information Technology			5.4%
Health Care			4.3%
Energy			1.4%

Total			100.0%


United States			71.3%
United Kingdom			4.9%
Canada			3.8%
Switzerland			3.5%
France			3.3%
Germany			2.5%
Australia			2.2%
Other			8.5%

Total			100.0%


Information Technology			23.0%
Financials			14.2%
Health Care			12.8%
Consumer Discretionary			11.1%
Industrials			9.3%
Communication Services			8.0%
Consumer Staples			7.2%
Materials			4.4%
Energy			4.3%
Utilities			3.0%
Real Estate			2.7%

Total			100.0%


Information Technology			29.6%
Health Care			15.0%
Consumer Discretionary			13.4%
Communication Services			10.7%
Financials			8.5%
Consumer Staples			8.1%
Industrials			7.0%
Energy			3.8%
Materials			2.0%
Real Estate			1.1%
Utilities			0.8%

Total			100.0%


Information Technology			19.4%
Financials			16.5%
Industrials			15.7%
Consumer Discretionary			11.0%
Health Care			9.9%
Materials			6.3%
Real Estate			6.1%
Consumer Staples			5.5%
Utilities			5.5%
Communication Services			2.7%
Energy			1.4%

Total			100.0%


Assets	Level 1			Level 2		Level 3		Total
Common Stocks (g)	$	77,241,471		$	—	$	2,727	$	77,244,198
Preferred Stocks (g)		223,555			—		—		223,555
Warrants		730			—		—		730
Short-Term Investments (g)		983,407			—		—		983,407

TOTAL	$	78,449,163		$	—	$	2,727	$	78,451,890


Liabilities	Level 1			Level 2		Level 3		Total
Derivatives (h)
Futures Contracts	$	(14,080	)	$	—	$	—	$	(14,080	)

TOTAL	$	(14,080	)	$	—	$	—	$	(14,080	)


Contract Description	Currency	Number of Contracts	Notional Amount		Contract Value		Expiration Date	Unrealized Appreciation (Depreciation)
E-Mini S&P 500 Futures	USD	2	$	465,929	$	436,800	3/18/2022	$	(29,129	)
MINI S&P/TSX 60 Futures	CAD	1		49,690		50,278	3/17/2022		588
MSCI EAFE Futures	USD	3		328,500		323,970	3/18/2022		(4,530	)

Total net unrealized depreciation								$	(33,071	)


	Value ($) at 8/31/2021		Purchases Cost ($)		Sales Proceeds ($)			Net Realized Gain/(Loss) ($)		Net Change in Unrealized Appreciation (Depreciation) ($)		Income ($)		Capital Gain Distributions ($)		Number of Shares at 2/28/2022		Value ($) at 2/28/2022
SECURITIES LENDING COLLATERAL — 0.1%
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c)
		18,629		—		(7,973	)(d)		—		—		—		—		10,656		10,656

CASH EQUIVALENTS — 1.4%
DWS Government Money Market Series “Institutional Shares”, 0.04% (b)
		187,481		452,409		(435,817	)		—		—		36		—		204,073		204,073

		206,110		452,409		(443,790	)		—		—		36		—		214,729		214,729


	Value ($) at 8/31/2021		Purchases Cost ($)		Sales Proceeds ($)			Net Realized Gain/(Loss) ($)		Net Change in Unrealized Appreciation (Depreciation) ($)		Income ($)		Capital Gain Distributions ($)		Number of Shares at 2/28/2022		Value ($) at 2/28/2022
SECURITIES LENDING COLLATERAL — 0.2%
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b)(c)
		639,018		—		(319,234	) (d)		—		—		15		—		319,784		319,784

CASH EQUIVALENTS — 0.3%
DWS Government Money Market Series “Institutional Shares”, 0.04% (b)
		426,619		2,766,955		(2,642,205	)		—		—		99		—		551,369		551,369

		1,065,637		2,766,955		(2,961,439	)		—		—		114		—		871,153		871,153


	Xtrackers FTSE Developed ex US Multifactor ETF			Xtrackers MSCI Kokusai Equity ETF		Xtrackers Russell 1000 US Quality at a Reasonable Price ETF		Xtrackers Russell US Multifactor ETF
Assets
Investment in non-affiliated securities at value	$	77,468,483		$	360,501,608	$	13,950,539	$	164,212,394
Investment in affiliated securities at value		—			172,180		—		—
Investment in DWS Government Money Market Series		15,752			60,718		204,073		551,369
Investment in DWS Government & Agency Securities Portfolio*		967,655			300,102		10,656		319,784
Foreign currency at value		106,034			299,067		—		—
Deposit with broker for futures contracts		9,334			38,170		10,800		32,400
Receivables:
Investment securities sold		—			918,424		—		—
Dividends		208,900			520,239		23,551		220,092
Interest		—			2		6		17
Securities lending income		314			956		29		285
Foreign tax reclaim		49,286			208,420		—		—

Total assets	$	78,825,758		$	363,019,886	$	14,199,654	$	165,336,341


Liabilities
Due to custodian	$	—		$	169	$	—	$	204
Payable upon return of securities loaned		967,655			300,102		10,656		319,784
Payables:
Investment securities purchased		76,907			1,162,361		—		—
Investment advisory fees		14,545			25,400		2,597		21,623
Variation margin on futures contracts		4,044			3,799		600		1,800

Total liabilities		1,063,151			1,491,831		13,853		343,411

Net Assets, at value	$	77,762,607		$	361,528,055	$	14,185,801	$	164,992,930


Net Assets Consist of
Paid-in capital	$	80,978,882		$	202,966,640	$	10,646,746	$	149,859,734
Distributable earnings (loss)		(3,216,275	)		158,561,415		3,539,055		15,133,196

Net Assets, at value	$	77,762,607		$	361,528,055	$	14,185,801	$	164,992,930


Number of Common Shares outstanding		2,600,001			4,500,001		350,001		3,700,001

Net Asset Value	$	29.91		$	80.34	$	40.53	$	44.59


Investment in non-affiliated securities at cost	$	74,261,857		$	311,635,940	$	12,570,175	$	145,816,693

Investment in affiliated securities at cost	$	—		$	146,003	$	—	$	—

Value of securities loaned	$	1,702,032		$	1,746,297	$	173,156	$	1,488,500

Investment in DWS Government Money Market Series at cost	$	15,752		$	60,718	$	204,073	$	551,369

Investment in DWS Government & Agency Securities Portfolio at cost*	$	967,655		$	300,102	$	10,656	$	319,784

Non-cash collateral for securities on loan	$	941,418		$	1,527,554	$	167,437	$	1,242,108

Foreign currency at cost	$	105,782		$	299,703	$	—	$	—


	Xtrackers FTSE Developed ex US Multifactor ETF			Xtrackers MSCI Kokusai Equity ETF			Xtrackers Russell 1000 US Quality at a Reasonable Price ETF			Xtrackers Russell US Multifactor ETF
Investment Income
Unaffiliated dividend income*	$	779,491		$	3,941,373		$	200,844		$	1,634,845
Income distributions from affiliated funds		8			92			36			99
Affiliated securities lending income		39			68			—			15
Unaffiliated non-cash dividend income*		76,628			400,902			—			—
Unaffiliated securities lending income, net of borrower rebates		7,776			35,590			485			4,562

Total investment income		863,942			4,378,025			201,365			1,639,521


Expenses
Investment advisory fees		115,180			240,053			27,356			161,555
Other expenses		57			57			57			57

Total expenses		115,237			240,110			27,413			161,612

Less fees waived (see note 3):
Waiver		(36,518	)		(81	)		(37	)		(105	)

Net expenses		78,719			240,029			27,376			161,507

Net investment income (loss)		785,223			4,137,996			173,989			1,478,014


Realized and Unrealized Gain (Loss)
Net realized gain (loss) from:
Investments		(652,406	)		(42,572	)		18,389			(2,148,619	)
In-kind redemptions		6,641,271			109,696,830			5,695,131			23,580,789
In-kind redemptions in affiliates		—			57,895			—			—
Futures contracts		(2,846	)		56,579			21,643			26,610
Foreign currency transactions		(18,646	)		(38,278	)		—			—

Net realized gain (loss)		5,967,373			109,730,454			5,735,163			21,458,780

Net change in unrealized appreciation (depreciation) on:
Investments		(11,584,407	)		(121,805,073	)		(5,852,547	)		(27,354,302	)
Investments in affiliates		—			(45,107	)		—			—
Futures contracts		(11,389	)		(79,155	)		(28,313	)		(68,350	)
Foreign currency translations		(2,031	)		(5,481	)		—			—

Net change in unrealized appreciation (depreciation)		(11,597,827	)		(121,934,816	)		(5,880,860	)		(27,422,652	)

Net realized and unrealized gain (loss) on investments, futures and foreign currency transactions		(5,630,454	)		(12,204,362	)		(145,697	)		(5,963,872	)


Net Increase (Decrease) in Net Assets Resulting from Operations	$	(4,845,231	)	$	(8,066,366	)	$	28,292		$	(4,485,858	)

* Unaffiliated foreign tax withheld	$	83,952		$	155,051		$	—		$	380


	Xtrackers FTSE Developed ex US Multifactor ETF						Xtrackers MSCI Kokusai Equity ETF
	For the Six Months Ended February 28, 2022 (Unaudited)			Year Ended August 31, 2021			For the Six Months Ended February 28, 2022 (Unaudited)			Year Ended August 31, 2021
Increase (Decrease) in Net Assets from Operations
Net investment income (loss)	$	785,223		$	1,995,225		$	4,137,996		$	12,961,318
Net realized gain (loss)		5,967,373			5,545,507			109,730,454			66,852,582
Net change in net unrealized appreciation (depreciation)		(11,597,827	)		7,471,727			(121,934,816	)		147,646,826

Net increase (decrease) in net assets resulting from operations		(4,845,231	)		15,012,459			(8,066,366	)		227,460,726


Distributions to Shareholders		(1,400,613	)		(2,769,501	)		(6,163,223	)		(11,461,571	)


Fund Shares Transactions
Proceeds from shares sold		34,320,380			3,122,218			—			738,181,720
Value of shares redeemed		(21,000,773	)		(17,052,937	)		(426,998,915	)		(283,087,229	)

Net increase (decrease) in net assets resulting from fund share transactions		13,319,607			(13,930,719	)		(426,998,915	)		455,094,491

Total net increase (decrease) in Net Assets		7,073,763			(1,687,761	)		(441,228,504	)		671,093,646

Net Assets
Beginning of period		70,688,844			72,376,605			802,756,559			131,662,913

End of period	$	77,762,607		$	70,688,844		$	361,528,055		$	802,756,559


Changes in Shares Outstanding
Shares outstanding, beginning of period		2,150,001			2,600,001			9,450,001			2,000,001
Shares sold		1,100,000			100,000			—			11,250,000
Shares redeemed		(650,000	)		(550,000	)		(4,950,000	)		(3,800,000	)

Shares outstanding, end of period		2,600,001			2,150,001			4,500,001			9,450,001


	Xtrackers Russell 1000 US Quality at a Reasonable Price ETF						Xtrackers Russell US Multifactor ETF
	For the Six Months Ended February 28, 2022 (Unaudited)			Year Ended August 31, 2021			For the Six Months Ended February 28, 2022 (Unaudited)			Year Ended August 31, 2021
Increase (Decrease) in Net Assets from Operations
Net investment income (loss)	$	173,989		$	1,069,129		$	1,478,014		$	2,521,312
Net realized gain (loss)		5,735,163			28,616,974			21,458,780			23,394,468
Net change in net unrealized appreciation (depreciation)		(5,880,860	)		(7,514,529	)		(27,422,652	)		28,283,557

Net increase (decrease) in net assets resulting from operations		28,292			22,171,574			(4,485,858	)		54,199,337


Distributions to Shareholders		(224,800	)		(1,304,404	)		(1,582,300	)		(2,600,903	)


Fund Shares Transactions
Proceeds from shares sold		—			22,826,382			30,361,717			79,876,610
Value of shares redeemed		(25,354,957	)		(104,524,407	)		(65,460,391	)		(75,144,279	)

Net increase (decrease) in net assets resulting from fund share transactions		(25,354,957	)		(81,698,025	)		(35,098,674	)		4,732,331

Total net increase (decrease) in Net Assets		(25,551,465	)		(60,830,855	)		(41,166,832	)		56,330,765

Net Assets
Beginning of period		39,737,266			100,568,121			206,159,762			149,828,997

End of period	$	14,185,801		$	39,737,266		$	164,992,930		$	206,159,762


Changes in Shares Outstanding
Shares outstanding, beginning of period		950,001			3,200,001			4,450,001			4,300,001
Shares sold		—			700,000			650,000			1,950,000
Shares redeemed		(600,000	)		(2,950,000	)		(1,400,000	)		(1,800,000	)

Shares outstanding, end of period		350,001			950,001			3,700,001			4,450,001


Xtrackers FTSE Developed ex US Multifactor ETF Selected Per Share Data	For the Six Months Ended 2/28/2022 (Unaudited)			Years Ended August 31,
	For the Six Months Ended 2/28/2022 (Unaudited)			2021			2020			2019			2018			2017
Net Asset Value, beginning of period	$	32.88		$	27.84		$	26.80		$	28.84		$	28.17		$	25.41

Income (loss) from investment operations:
Net investment income (loss)(a)		0.37			0.84			0.62			0.83			0.77			0.54
Net realized and unrealized gain (loss)		(2.70	)		5.35			1.32			(2.11	)		0.72			3.19

Total from investment operations		(2.33	)		6.19			1.94			(1.28	)		1.49			3.73

Less distributions from:
Net investment income		(0.64	)		(1.15	)		(0.90	)		(0.76	)		(0.82	)		(0.97	)

Total distributions		(0.64	)		(1.15	)		(0.90	)		(0.76	)		(0.82	)		(0.97	)

Net Asset Value, end of period	$	29.91		$	32.88		$	27.84		$	26.80		$	28.84		$	28.17

Total Return (%)		(7.19	)**(b)		22.69	(b)		7.49	(b)		(4.51	)(b)		5.32			15.16

Ratios to Average Net Assets and Supplemental Data
Net Assets, end of period ($ millions)		78			71			72			72			59			15
Ratio of expenses before fee waiver (%)		0.35	*		0.35			0.35			0.35			0.35			0.35
Ratio of expenses after fee waiver (%)		0.24	*		0.24			0.24			0.29			0.35			0.35
Ratio of net investment income (loss) (%)		2.27	*		2.75			2.37			3.05			2.62			2.10
Portfolio turnover rate (%)(c)		28	**		53			43			51			45			45


Xtrackers MSCI Kokusai Equity ETF Selected Per Share Data	For the Six Months Ended 2/28/2022 (Unaudited)			Year Ended 8/31/2021			Period Ended 8/31/2020(d)
Net Asset Value, beginning of period	$	84.95		$	65.83		$	50.00

Income (loss) from investment operations:
Net investment income (loss)(a)		0.65			1.28			0.49
Net realized and unrealized gain (loss)		(4.30	)		18.91			15.34

Total from investment operations		(3.65	)		20.19			15.83

Less distributions from:
Net investment income		(0.96	)		(1.06	)		—
Net realized gains		—			(0.01	)		—

Total distributions		(0.96	)		(1.07	)		—

Net Asset Value, end of period	$	80.34		$	84.95		$	65.83

Total Return (%)(b)		(4.34	)**		30.87			31.66	**

Ratios to Average Net Assets and Supplemental Data
Net Assets, end of period ($ millions)		362			803			132
Ratio of expenses before fee waiver (%)		0.09	*		0.09			0.09	*
Ratio of expenses after fee waiver (%)		0.09	*		0.09			0.09	*
Ratio of net investment income (loss) (%)		1.48	*		1.73			2.08	*
Portfolio turnover rate (%)(c)		2	**		6			7	**


Xtrackers Russell US Multifactor ETF Selected Per Share Data	For the Six Months Ended 2/28/2022 (Unaudited)			Years Ended August 31,
	For the Six Months Ended 2/28/2022 (Unaudited)			2021			2020			2019			2018			2017
Net Asset Value, beginning of period	$	46.33		$	34.84		$	33.88		$	33.93		$	29.47		$	26.76

Income (loss) from investment operations:
Net investment income (loss)(b)		0.36			0.56			0.62			0.57			0.52			0.51
Net realized and unrealized gain (loss)		(1.74	)		11.47			0.96			(0.09	)		4.44			2.85

Total from investment operations		(1.38	)		12.03			1.58			0.48			4.96			3.36

Less distributions from:
Net investment income		(0.36	)		(0.54	)		(0.62	)		(0.53	)		(0.50	)		(0.65	)

Total distributions		(0.36	)		(0.54	)		(0.62	)		(0.53	)		(0.50	)		(0.65	)

Net Asset Value, end of period	$	44.59		$	46.33		$	34.84		$	33.88		$	33.93		$	29.47

Total Return (%)(c)		(3.01	)**		34.85			4.93			1.53			16.97			12.75

Ratios to Average Net Assets and Supplemental Data
Net Assets, end of period ($ millions)		165			206			150			203			171			100
Ratio of expenses before fee waiver (%)		0.17	*		0.17			0.17			0.17			0.19			0.23
Ratio of expenses after fee waiver (%)		0.17	*		0.17			0.17			0.17			0.18			0.21
Ratio of net investment income (loss) (%)		1.56	*		1.40			1.85			1.77			1.62			1.83
Portfolio turnover rate (%)(d)		15	**		39			47			48			45			67


Fund		Underlying Index
Xtrackers FTSE Developed ex US Multifactor ETF		FTSE Developed ex US Comprehensive Factor Index
Xtrackers MSCI Kokusai Equity ETF		MSCI Kokusai Index
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF Xtrackers Russell US Multifactor ETF		Russell 1000 2Qual/Val 5% Capped Factor Index Russell 1000 Comprehensive Factor Index


	Short-Term		Long-Term		Total Amount
Xtrackers FTSE Developed ex US Multifactor ETF	$	4,361,472	$	6,965,576	$	11,327,048
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF		453,671		2,958,730		3,412,401
Xtrackers Russell US Multifactor ETF		14,999,514		8,195,267		23,194,781


	Aggregate Tax Cost		Net Unrealized Appreciation (Depreciation)		Aggregate Gross Unrealized Appreciation		Aggregate Gross Unrealized (Depreciation)
Xtrackers FTSE Developed ex US Multifactor ETF	$	57,709,682	$	13,602,175	$	15,353,361	$	(1,751,186	)
Xtrackers MSCI Kokusai Equity ETF		632,419,518		169,955,856		176,074,827		(6,118,971	)
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF		32,465,480		7,054,480		7,649,954		(595,474	)
Xtrackers Russell US Multifactor ETF		162,875,862		43,928,099		45,100,533		(1,172,434	)


Remaining Contractual Maturity of the Agreements, as of February 28, 2022

Securities Lending Transactions	Overnight and Continuous		<30 Days		Between 30 & 90 days		>90 days		Total
Xtrackers FTSE Developed ex US Multifactor ETF
Common Stocks	$	967,655	$	—	$	—	$	941,418	$	1,909,073

Gross amount of recognized liabilities and non-cash collateral for securities lending transactions									$	1,909,073

Xtrackers MSCI Kokusai Equity ETF
Common Stocks	$	300,102	$	9,046	$	2,819	$	1,515,689	$	1,827,656

Gross amount of recognized liabilities and non-cash collateral for securities lending transactions									$	1,827,656

Xtrackers Russell 1000 US Quality at a Reasonable Price ETF
Common Stocks	$	10,656	$	1,378	$	2,358	$	163,701	$	178,093

Gross amount of recognized liabilities and non-cash collateral for securities lending transactions									$	178,093

Xtrackers Russell US Multifactor ETF
Common Stocks	$	319,784	$	92,848	$	3,812	$	1,145,448	$	1,561,892

Gross amount of recognized liabilities and non-cash collateral for securities lending transactions									$	1,561,892


		Asset Derivatives			Liability Derivatives
Xtrackers FTSE Developed ex US Multifactor ETF

	Equity contracts	Unrealized appreciation on futures contracts*	$	—	Unrealized depreciation on futures contracts*	$	14,080

Xtrackers MSCI Kokusai Equity ETF

	Equity contracts	Unrealized appreciation on futures contracts*	$	588	Unrealized depreciation on futures contracts*	$	33,659

Xtrackers Russell 1000 US Quality at a Reasonable Price ETF

	Equity contracts	Unrealized appreciation on futures contracts*	$	—	Unrealized depreciation on futures contracts*	$	14,570

Xtrackers Russell US Multifactor ETF

	Equity contracts	Unrealized appreciation on futures contracts*	$	—	Unrealized depreciation on futures contracts*	$	42,945


Net Realized Gain (Loss) from:

	Futures Contracts - Equity Contracts
Xtrackers FTSE Developed ex US Multifactor ETF	$	(2,846	)
Xtrackers MSCI Kokusai Equity ETF		56,579
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF		21,643
Xtrackers Russell US Multifactor ETF		26,610


Net Change in Unrealized Appreciation (Depreciation) on:

	Futures Contracts - Equity Contracts
Xtrackers FTSE Developed ex US Multifactor ETF	$	(11,389	)
Xtrackers MSCI Kokusai Equity ETF		(79,155	)
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF		(28,313	)
Xtrackers Russell US Multifactor ETF		(68,350	)


	Futures Contracts (Contract Value)
Xtrackers FTSE Developed ex US Multifactor ETF	$	341,834
Xtrackers MSCI Kokusai Equity ETF		1,563,620
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF		225,802
Xtrackers Russell US Multifactor ETF		581,582


	Unitary Advisory Fee
Xtrackers FTSE Developed ex US Multifactor ETF		0.35	%
Xtrackers MSCI Kokusai Equity ETF		0.09	%
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF		0.19	%
Xtrackers Russell US Multifactor ETF		0.17	%


	Expenses Waived
Xtrackers FTSE Developed ex US Multifactor ETF	$	319
Xtrackers MSCI Kokusai Equity ETF		81
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF		37
Xtrackers Russell US Multifactor ETF		105


	Purchases		Sales
Xtrackers FTSE Developed ex US Multifactor ETF	$	19,831,169	$	18,839,275
Xtrackers MSCI Kokusai Equity ETF		10,847,676		12,124,122
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF		198,368		250,420
Xtrackers Russell US Multifactor ETF		28,989,550		29,335,048


Investment advisor DBX Advisors LLC 875 Third Avenue New York, NY 10022	Administrator, custodian, fund accounting agent, lending agent & transfer agent The Bank of New York Mellon 240 Greenwich Street New York, NY 10286	Distributor ALPS Distributors, Inc. 1290 Broadway Suite 1000 Denver, CO 80203

Independent registered public accounting firm Ernst & Young LLP One Manhattan West New York, NY 10001	Legal counsel Vedder Price P.C. 1633 Broadway New York, NY