MissionSquare Emerging Markets Fund

Fund Facts

Inception Date:	Dec 18, 2017
CUSIP:	92210J242
Morningstar Category:^‡	Diversified Emerging Mkts

Documents for Fund or Underlying Fund(s)

Description
Performance & Expenses
Morningstar Information
Statistics
Trading Restrictions
Underlying Fund Characteristics
Management

Description

Objective

To invest in a diversified portfolio of emerging market equity securities, with a focus on generating long-term capital growth.

Principal Investment Strategies

Under normal circumstances, this Fund seeks to invest at least 80% of its net assets in emerging market equity securities that offer the opportunity for capital appreciation. It primarily invests in equity securities of companies located in emerging market countries, but may also invest in emerging market securities issued by companies located in developed market countries.

This Fund may use equity securities or pooled investment vehicles to gain the desired exposure. The Fund may also invest in other equity securities, fixed income securities, cash and cash equivalents, and derivative instruments.

This Fund uses multiple managers. Each manager independently selects and maintains a portfolio for this Fund.

Principal Investment Risks

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. The Fund’s principal investment risks include: Stock Market Risk, Foreign Securities Risk, Emerging Markets Securities Risk, Foreign Currency Risk, Small-Cap Securities Risk, Mid-Cap Securities Risk, Derivative Instruments Risk, Indexing Risk, Multi-Manager Risk, Large Investor Risk.
Please see the Disclosure Memorandum for additional information about the Fund’s risks.

Performance & Expenses

Standard Performance As of Sep 30, 2022
Fund/Benchmark Name	Qtr	YTD	1-Yr	3-Yr	5-Yr	10-Yr	Since Inception
MissionSquare Emerging Mkts R9	-12.75%	-29.12%	-29.06%	-1.99%	-1.91%	N/A	-0.71%
MSCI Emerging Markets Index (Net)^a,b	-11.57%	-27.16%	-28.11%	-2.07%	-1.81%	1.05%	N/A
Morningstar Diversified Emerging Mkts^a,c	-10.19%	-27.86%	-28.59%	-1.92%	-1.81%	1.13%	N/A

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, participants or plan sponsors in a MissionSquare Retirement administered account can log in at www.missionsq.org, or institutions can go to www.investments.missionsq.org.

Performance information for this class prior to its inception date is the performance of the Fund adjusted to reflect the estimated fees and expenses of this class.

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Total Expenses
Gross Expenses	0.85%
Net Expenses	0.85%

a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2022 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The MSCI Emerging Markets Index (Net) is a free float-adjusted market capitalization index of equity securities that is designed to measure the equity market performance of emerging markets. The net version of this index reinvests dividends after the deduction of withholding taxes, using a tax rate applicable to non-resident institutional investors who do not benefit from double taxation treaties.

c. The Morningstar category average return represents the average return for a category of funds with similar investment objectives and strategies. The average is calculated and funds are assigned to a category by Morningstar.

Morningstar Information

Morningstar Rating^TM As of Sep 30, 2022
Period	Stars	Category Size
Overall		723
3-Year		723
5-Year		642
10-Year	N/A	N/A

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange–traded funds, closed–end funds, and separate accounts) with at least a three–year history. Exchange–traded funds and open–ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk–Adjusted Return measure that accounts for variation in a managed product′s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three–, five–, and 10–year (if applicable) Morningstar Rating metrics. The weights are: 100% three–year rating for 36–59 months of total returns, 60% five–year rating/40% three–year rating for 60–119 months of total returns, and 50% 10–year rating/30% five–year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Morningstar Stylebox^† As of Sep 30, 2022
Equity Stylebox

Allocation of Assets^† As of Aug 31, 2022
Type of Asset	Percent
Equity	97%
Fixed Income	0%
Cash/Other	3%

Due to rounding, percentages shown may not add up to 100%.

Statistics

Portfolio Statistics^† As of Sep 30, 2022
Statistic	3-Year	5-Year
Beta	0.99	0.95
Alpha	0.08	-0.26
Standard Deviation	19.28	17.17

Trading Restrictions

Purchase, Sale, and Transfer Restrictions

Investors who transfer assets out of this Fund must wait at least 91 days before transferring assets back into this same Fund. This policy affects transfers only, does not affect regular contributions or disbursements, and is designed to protect long-term investors in this Fund.

Underlying Fund Characteristics

Allocation of Assets^† As of Aug 31, 2022
Asset Class	Percent
Domestic Stock	0.6%
Foreign Stock	96.1%
Domestic Bond	0.0%
Foreign Bond	0.0%
Preferred	0.0%
Convertible	0.0%
Cash	3.4%
Other	0.0%

Due to rounding, percentages shown may not add up to 100%.

Equity Sector^† As of Aug 31, 2022
Sector	Percent
Technology	26.1%
Financial Services	21.3%
Consumer Cyclical	15.1%
Consumer Defensive	10.9%
Communication Services	8.7%
Industrials	4.0%
Basic Materials	3.7%
Energy	3.5%
Healthcare	2.0%
Real Estate	0.9%
Utilities	0.6%

Exposure reflects equity securities only and will sum to the equity exposure of the fund.

Top Ten Country Exposure^† As of Aug 31, 2022
Country	Percent
China	30.3%
Taiwan	15.0%
India	12.8%
South Korea	10.5%
Indonesia	4.5%
Brazil	4.2%
Mexico	4.0%
Hong Kong	2.8%
Thailand	2.4%
South Africa	2.0%

Top Ten Holdings As of Sep 30, 2022
Underlying Fund Holdings	Market Value	%
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD	$38,060,605	6.9%
SAMSUNG ELECTRONICS CO LTD	$23,909,044	4.3%
ALIBABA GROUP HOLDING LTD	$20,117,588	3.6%
TENCENT HOLDINGS LTD	$18,591,871	3.4%
YUAN RENMINBI	$13,471,447	2.4%
BLACKROCK TEMP FUND - INST SHARES FUND 24	$11,083,346	2.0%
JPMORGAN PRIME MONEY MARKET FUND FUNDS VARIABLE	$11,083,344	2.0%
HOUSING DEVELOPMENT FINANCE CORP LTD	$10,824,292	2.0%
TELKOM INDONESIA PERSERO TBK PT	$10,404,792	1.9%
WAL-MART DE MEXICO SAB DE CV	$10,047,812	1.8%

All Holdings As of Sep 30, 2022
Underlying Fund Holdings	Market Value	%
Equity
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD	$38,060,605	6.9%
SAMSUNG ELECTRONICS CO LTD	$23,909,044	4.3%
ALIBABA GROUP HOLDING LTD	$20,117,588	3.6%
TENCENT HOLDINGS LTD	$18,591,871	3.4%
HOUSING DEVELOPMENT FINANCE CORP LTD	$10,824,292	2.0%
TELKOM INDONESIA PERSERO TBK PT	$10,404,792	1.9%
WAL-MART DE MEXICO SAB DE CV	$10,047,812	1.8%
SK HYNIX INC	$9,434,147	1.7%
BANK RAKYAT INDONESIA PERSERO TBK PT	$9,283,801	1.7%
VARUN BEVERAGES LTD	$9,062,937	1.6%
JD.COM INC	$9,029,772	1.6%
NETEASE INC	$8,571,297	1.5%
HAIER SMART HOME CO LTD	$7,342,925	1.3%
MAX HEALTHCARE INSTITUTE LTD	$6,512,805	1.2%
PRESIDENT CHAIN STORE CORP	$6,491,770	1.2%
BANK CENTRAL ASIA TBK PT	$6,408,821	1.2%
SHANGHAI BAOSIGHT SOFTWARE CO LTD	$6,405,800	1.2%
AIA GROUP LTD	$5,924,232	1.1%
RELIANCE INDUSTRIES LTD	$5,905,412	1.1%
B3 SA - BRASIL BOLSA BALCAO	$5,748,300	1.0%
MEDIATEK INC	$5,681,536	1.0%
NARI TECHNOLOGY CO LTD	$5,583,901	1.0%
INFOSYS LTD	$5,493,477	1.0%
CTBC FINANCIAL HOLDING CO LTD	$5,357,956	1.0%
INNER MONGOLIA YILI INDUSTRIAL GROUP CO LTD	$5,144,691	0.9%
PUBLIC BANK BHD	$5,130,718	0.9%
LONGI GREEN ENERGY TECHNOLOGY CO LTD	$4,906,117	0.9%
BHARTI AIRTEL LTD	$4,650,958	0.8%
TATA CONSULTANCY SERVICES LTD	$4,553,956	0.8%
PING AN INSURANCE GROUP CO OF CHINA LTD	$4,452,669	0.8%
PETROLEO BRASILEIRO SA	$4,449,607	0.8%
HONG KONG EXCHANGES & CLEARING LTD	$4,375,862	0.8%
MIDEA GROUP CO LTD	$4,232,054	0.8%
CONTEMPORARY AMPEREX TECHNOLOGY CO LTD	$4,127,141	0.7%
SPRING AIRLINES CO LTD	$4,105,446	0.7%
OPAP SA	$4,103,535	0.7%
GRUPO FINANCIERO BANORTE SAB DE CV	$4,035,328	0.7%
SOCIEDAD QUIMICA Y MINERA DE CHILE SA	$4,023,583	0.7%
LEMON TREE HOTELS LTD	$4,012,306	0.7%
KWEICHOW MOUTAI CO LTD	$4,000,356	0.7%
LG CHEM LTD	$3,974,818	0.7%
KASIKORNBANK PCL	$3,730,137	0.7%
CHINA EDUCATION GROUP HOLDINGS LTD	$3,662,944	0.7%
BANK FOR FOREIGN TRADE OF VIETNAM JSC	$3,601,449	0.7%
WULIANGYE YIBIN CO LTD	$3,463,504	0.6%
SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS CO LTD	$3,456,062	0.6%
LG ENERGY SOLUTION LTD	$3,453,971	0.6%
CHINA RESOURCES LAND LTD	$3,453,198	0.6%
YUM CHINA HOLDINGS INC	$3,424,089	0.6%
TINGYI CAYMAN ISLANDS HOLDING CORP	$3,330,566	0.6%
MONDE NISSIN CORP	$3,329,778	0.6%
PRUDENTIAL PLC	$3,283,027	0.6%
CHINA MERCHANTS BANK CO LTD	$3,128,435	0.6%
PTT EXPLORATION & PRODUCTION PCL	$2,978,047	0.5%
ITAU UNIBANCO HOLDING SA	$2,890,645	0.5%
CONTAINER CORP OF INDIA LTD	$2,858,437	0.5%
SANY HEAVY INDUSTRY CO LTD	$2,811,165	0.5%
ACCTON TECHNOLOGY CORP	$2,761,920	0.5%
ITAU UNIBANCO HOLDING SA	$2,752,075	0.5%
HDFC BANK LTD	$2,644,440	0.5%
CHINA PETROLEUM & CHEMICAL CORP	$2,636,465	0.5%
SK SQUARE CO LTD	$2,558,734	0.5%
BANCO SANTANDER CHILE	$2,512,918	0.5%
CHINA CONSTRUCTION BANK CORP	$2,508,736	0.5%
POSTAL SAVINGS BANK OF CHINA CO LTD	$2,455,118	0.4%
DEVYANI INTERNATIONAL LTD	$2,439,670	0.4%
HCL TECHNOLOGIES LTD	$2,405,998	0.4%
FOMENTO ECONOMICO MEXICANO SAB DE CV	$2,398,179	0.4%
GRUPO AEROPORTUARIO DEL PACIFICO SAB DE CV	$2,337,570	0.4%
HDFC BANK LTD	$2,314,582	0.4%
FUYAO GLASS INDUSTRY GROUP CO LTD	$2,285,554	0.4%
SANLAM LTD	$2,265,655	0.4%
FIRSTRAND LTD	$2,260,738	0.4%
NIO INC	$2,256,687	0.4%
SOUTHERN COPPER CORP	$2,243,928	0.4%
MICRON TECHNOLOGY INC	$2,162,667	0.4%
GUANGDONG INVESTMENT LTD	$2,129,147	0.4%
QATAR NATIONAL BANK QPSC	$2,115,935	0.4%
VODACOM GROUP LTD	$2,099,333	0.4%
ADVANTECH CO LTD	$2,079,058	0.4%
UNI-PRESIDENT ENTERPRISES CORP	$2,048,621	0.4%
AKR CORPORINDO TBK PT	$2,033,287	0.4%
GRUPO MEXICO SAB DE CV	$1,999,074	0.4%
JOLLIBEE FOODS CORP	$1,952,129	0.4%
BANCO BRADESCO SA	$1,942,267	0.4%
SCB X PCL	$1,880,011	0.3%
VANGUARD INTERNATIONAL SEMICONDUCTOR CORP	$1,774,427	0.3%
MAHINDRA & MAHINDRA LTD	$1,771,883	0.3%
ICICI BANK LTD	$1,733,674	0.3%
BID CORP LTD	$1,709,255	0.3%
LG H&H CO LTD	$1,665,173	0.3%
PETRONET LNG LTD	$1,661,986	0.3%
INDIABULLS REAL ESTATE LTD	$1,661,274	0.3%
LARSEN & TOUBRO LTD	$1,651,903	0.3%
NOVATEK MICROELECTRONICS CORP	$1,626,780	0.3%
ASTRA INTERNATIONAL TBK PT	$1,619,045	0.3%
STANDARD BANK GROUP LTD	$1,612,929	0.3%
KB FINANCIAL GROUP INC	$1,579,323	0.3%
ECLAT TEXTILE CO LTD	$1,574,822	0.3%
KALBE FARMA TBK PT	$1,565,482	0.3%
UNILEVER PLC	$1,546,946	0.3%
HEINEKEN MALAYSIA BHD	$1,532,659	0.3%
EMEMORY TECHNOLOGY INC	$1,532,516	0.3%
DR REDDY'S LABORATORIES LTD	$1,529,978	0.3%
RAIA DROGASIL SA	$1,517,365	0.3%
HOME PRODUCT CENTER PCL	$1,501,615	0.3%
ATACADAO SA	$1,466,599	0.3%
MINOR INTERNATIONAL PCL	$1,460,993	0.3%
ZHEJIANG SUPOR CO LTD	$1,455,210	0.3%
ANTOFAGASTA PLC	$1,454,364	0.3%
SM INVESTMENTS CORP	$1,448,381	0.3%
SAMSUNG FIRE & MARINE INSURANCE CO LTD	$1,378,233	0.3%
HUAYU AUTOMOTIVE SYSTEMS CO LTD	$1,341,142	0.2%
VALE SA	$1,332,000	0.2%
ASE TECHNOLOGY HOLDING CO LTD	$1,307,687	0.2%
CHINA RESOURCES GAS GROUP LTD	$1,251,450	0.2%
KIMBERLY-CLARK DE MEXICO SAB DE CV	$1,242,920	0.2%
XINYI GLASS HOLDINGS LTD	$1,217,494	0.2%
TOPSPORTS INTERNATIONAL HOLDINGS LTD	$1,214,486	0.2%
SAMSUNG ELECTRONICS CO LTD	$1,193,162	0.2%
DELTA ELECTRONICS INC	$1,185,623	0.2%
HANG SENG BANK LTD	$1,172,770	0.2%
POWSZECHNY ZAKLAD UBEZPIECZEN SA	$1,138,750	0.2%
SK TELECOM CO LTD	$1,114,324	0.2%
ANTA SPORTS PRODUCTS LTD	$1,066,474	0.2%
SHENZHOU INTERNATIONAL GROUP HOLDINGS LTD	$1,051,677	0.2%
EDP - ENERGIAS DO BRASIL SA	$1,047,693	0.2%
WIWYNN CORP	$1,041,311	0.2%
TSINGTAO BREWERY CO LTD	$1,037,054	0.2%
CREDICORP LTD	$1,033,362	0.2%
CLICKS GROUP LTD	$1,033,024	0.2%
JOYOUNG CO LTD	$969,598	0.2%
SHENZHEN INOVANCE TECHNOLOGY CO LTD	$962,387	0.2%
MYTILINEOS SA	$954,265	0.2%
POSTAL SAVINGS BANK OF CHINA CO LTD	$860,402	0.2%
DISCOVERY LTD	$840,641	0.2%
AMERICA MOVIL SAB DE CV	$823,928	0.2%
BAIDU INC	$803,279	0.1%
SIAM CEMENT PCL/THE	$790,767	0.1%
HKT TRUST & HKT LTD	$784,829	0.1%
RIO TINTO PLC	$752,615	0.1%
NCSOFT CORP	$747,728	0.1%
ENKA INSAAT VE SANAYI AS	$745,203	0.1%
YUM CHINA HOLDINGS INC	$742,851	0.1%
SHINHAN FINANCIAL GROUP CO LTD	$739,872	0.1%
SAMSUNG ELECTRONICS CO LTD	$738,233	0.1%
MERCADOLIBRE INC	$701,130	0.1%
ALIBABA GROUP HOLDING LTD	$678,475	0.1%
LG CORP	$654,418	0.1%
CHAILEASE HOLDING CO LTD	$654,071	0.1%
MONDI PLC	$638,354	0.1%
REALTEK SEMICONDUCTOR CORP	$628,750	0.1%
AVI LTD	$609,461	0.1%
BB SEGURIDADE PARTICIPACOES SA	$608,268	0.1%
WIZZ AIR HOLDINGS PLC	$607,671	0.1%
TELEFONICA BRASIL SA	$568,835	0.1%
WH GROUP LTD	$559,017	0.1%
MR PRICE GROUP LTD	$538,833	0.1%
E.SUN FINANCIAL HOLDING CO LTD	$529,053	0.1%
NASPERS LTD	$499,815	0.1%
FULL TRUCK ALLIANCE CO LTD	$472,746	0.1%
SUNNY OPTICAL TECHNOLOGY GROUP CO LTD	$472,245	0.1%
AMERICANAS SA	$469,736	0.1%
AL RAJHI BANK	$456,102	0.1%
TRIP.COM GROUP LTD	$429,259	0.1%
GRUPO TELEVISA SAB	$366,932	0.1%
FALABELLA SA	$361,152	0.1%
WEIBO CORP	$326,286	0.1%
VOLTRONIC POWER TECHNOLOGY CORP	$300,255	0.1%
TURKCELL ILETISIM HIZMETLERI AS	$269,610	0.1%
FUYAO GLASS INDUSTRY GROUP CO LTD	$264,971	0.1%
BANCO BRADESCO SA	$244,094	0.0%
SPAR GROUP LTD/THE	$227,243	0.0%
BOLSA MEXICANA DE VALORES SAB DE CV	$225,695	0.0%
HUAYU AUTOMOTIVE SYSTEMS CO LTD	$108,172	0.0%
JOYOUNG CO LTD	$73,978	0.0%
ACEN CORP	$26,850	0.0%
ALROSA PJSC	$0	0.0%
GAZPROM PJSC	$0	0.0%
SEVERSTAL PAO	$0	0.0%
MOSCOW EXCHANGE MICEX-RTS PJSC	$0	0.0%
LUKOIL PJSC	$0	0.0%
MAGNIT PJSC	$0	0.0%

Short-Term/Cash
Underlying Fund Holdings	Market Value	%
BLACKROCK TEMP FUND - INST SHARES FUND 24	$11,083,346	2.0%
JPMORGAN PRIME MONEY MARKET FUND FUNDS VARIABLE	$11,083,344	2.0%

Other
Underlying Fund Holdings	Market Value	%
YUAN RENMINBI	$13,471,447	2.4%
HONG KONG DOLLAR	$196,929	0.0%
INDIAN RUPEE	$46,270	0.0%
WON	$43,967	0.0%
NEW TAIWAN DOLLAR	$36,277	0.0%
RAND	$16,772	0.0%
US DOLLAR	$9,086	0.0%
QATARI RIAL	$7,167	0.0%
UAE DIRHAM	$312	0.0%
CURRENCY CONTRACTS - ZAR	$-36	0.0%
CURRENCY CONTRACTS - ZAR	$-64	0.0%
YUAN RENMINBI	$-13,563,196	-2.4%

All Holdings As of Aug 31, 2022
Underlying Fund Holdings	Market Value	%
Equity
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD	$49,219,558	7.7%
SAMSUNG ELECTRONICS CO LTD	$30,555,529	4.8%
ALIBABA GROUP HOLDING LTD	$24,051,077	3.8%
TENCENT HOLDINGS LTD	$22,975,449	3.6%
SK HYNIX INC	$14,370,386	2.2%
HOUSING DEVELOPMENT FINANCE CORP LTD	$11,946,594	1.9%
JD.COM INC	$11,330,138	1.8%
NETEASE INC	$10,557,884	1.7%
WAL-MART DE MEXICO SAB DE CV	$9,792,903	1.5%
TELKOM INDONESIA PERSERO TBK PT	$9,210,537	1.4%
BANK RAKYAT INDONESIA PERSERO TBK PT	$9,159,601	1.4%
VARUN BEVERAGES LTD	$9,144,847	1.4%
MEDIATEK INC	$8,887,701	1.4%
HAIER SMART HOME CO LTD	$8,668,890	1.4%
INFOSYS LTD	$8,055,825	1.3%
WULIANGYE YIBIN CO LTD	$7,897,885	1.2%
INFOSYS LTD	$7,255,826	1.1%
AIA GROUP LTD	$6,995,784	1.1%
SHANGHAI BAOSIGHT SOFTWARE CO LTD	$6,799,677	1.1%
RELIANCE INDUSTRIES LTD	$6,666,019	1.0%
NARI TECHNOLOGY CO LTD	$6,408,341	1.0%
MAX HEALTHCARE INSTITUTE LTD	$6,311,858	1.0%
HONG KONG EXCHANGES & CLEARING LTD	$6,296,746	1.0%
CTBC FINANCIAL HOLDING CO LTD	$6,285,938	1.0%
INNER MONGOLIA YILI INDUSTRIAL GROUP CO LTD	$6,238,455	1.0%
LG CHEM LTD	$6,226,621	1.0%
B3 SA - BRASIL BOLSA BALCAO	$6,202,850	1.0%
PUBLIC BANK BHD	$5,919,537	0.9%
PING AN INSURANCE GROUP CO OF CHINA LTD	$5,695,920	0.9%
KASIKORNBANK PCL	$5,667,746	0.9%
BANK CENTRAL ASIA TBK PT	$5,544,824	0.9%
PRESIDENT CHAIN STORE CORP	$5,286,147	0.8%
TATA CONSULTANCY SERVICES LTD	$5,283,395	0.8%
LONGI GREEN ENERGY TECHNOLOGY CO LTD	$5,153,062	0.8%
PETROLEO BRASILEIRO SA	$5,152,745	0.8%
CHINA MERCHANTS BANK CO LTD	$5,137,863	0.8%
MIDEA GROUP CO LTD	$4,978,281	0.8%
MONDE NISSIN CORP	$4,713,078	0.7%
OPAP SA	$4,507,113	0.7%
TINGYI CAYMAN ISLANDS HOLDING CORP	$4,464,174	0.7%
CHINA EDUCATION GROUP HOLDINGS LTD	$4,335,522	0.7%
BHARTI AIRTEL LTD	$4,304,747	0.7%
NIO INC	$4,304,542	0.7%
KB FINANCIAL GROUP INC	$4,273,658	0.7%
BANK FOR FOREIGN TRADE OF VIETNAM JSC	$4,225,754	0.7%
SPRING AIRLINES CO LTD	$4,007,802	0.6%
GRUPO FINANCIERO BANORTE SAB DE CV	$3,965,362	0.6%
CHINA RESOURCES LAND LTD	$3,964,477	0.6%
YUM CHINA HOLDINGS INC	$3,776,390	0.6%
PRUDENTIAL PLC	$3,520,351	0.6%
GRUPO MEXICO SAB DE CV	$3,505,680	0.6%
CHINA CONSTRUCTION BANK CORP	$3,373,659	0.5%
SANY HEAVY INDUSTRY CO LTD	$3,283,661	0.5%
LEMON TREE HOTELS LTD	$3,282,064	0.5%
SOCIEDAD QUIMICA Y MINERA DE CHILE SA	$3,263,224	0.5%
PTT EXPLORATION & PRODUCTION PCL	$3,227,349	0.5%
SK SQUARE CO LTD	$3,081,224	0.5%
BANCO SANTANDER CHILE	$3,052,203	0.5%
ACCTON TECHNOLOGY CORP	$3,018,655	0.5%
CONTEMPORARY AMPEREX TECHNOLOGY CO LTD	$2,986,378	0.5%
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD	$2,928,419	0.5%
GRUPO AEROPORTUARIO DEL PACIFICO SAB DE CV	$2,889,970	0.5%
ITAU UNIBANCO HOLDING SA	$2,791,562	0.4%
ITAU UNIBANCO HOLDING SA	$2,762,048	0.4%
FUYAO GLASS INDUSTRY GROUP CO LTD	$2,750,488	0.4%
SANLAM LTD	$2,733,026	0.4%
ADVANTECH CO LTD	$2,646,904	0.4%
HDFC BANK LTD	$2,566,282	0.4%
POSTAL SAVINGS BANK OF CHINA CO LTD	$2,553,635	0.4%
GUANGDONG INVESTMENT LTD	$2,531,663	0.4%
FOMENTO ECONOMICO MEXICANO SAB DE CV	$2,515,361	0.4%
VODACOM GROUP LTD	$2,506,665	0.4%
CHINA PETROLEUM & CHEMICAL CORP	$2,465,966	0.4%
MICRON TECHNOLOGY INC	$2,440,231	0.4%
DEVYANI INTERNATIONAL LTD	$2,340,596	0.4%
VANGUARD INTERNATIONAL SEMICONDUCTOR CORP	$2,322,921	0.4%
NOVATEK MICROELECTRONICS CORP	$2,230,282	0.4%
UNI-PRESIDENT ENTERPRISES CORP	$2,216,874	0.4%
QATAR NATIONAL BANK QPSC	$2,199,965	0.3%
MAHINDRA & MAHINDRA LTD	$2,138,013	0.3%
JOLLIBEE FOODS CORP	$2,132,668	0.3%
HDFC BANK LTD	$2,128,569	0.3%
POSTAL SAVINGS BANK OF CHINA CO LTD	$2,097,672	0.3%
PETRONET LNG LTD	$2,058,076	0.3%
ECLAT TEXTILE CO LTD	$2,031,534	0.3%
LG H&H CO LTD	$2,011,728	0.3%
STANDARD BANK GROUP LTD	$1,999,659	0.3%
GANFENG LITHIUM CO LTD	$1,975,563	0.3%
BANCO BRADESCO SA	$1,948,499	0.3%
EMEMORY TECHNOLOGY INC	$1,936,383	0.3%
INDIABULLS REAL ESTATE LTD	$1,888,097	0.3%
MINOR INTERNATIONAL PCL	$1,872,442	0.3%
AKR CORPORINDO TBK PT	$1,856,476	0.3%
SM INVESTMENTS CORP	$1,819,494	0.3%
ICICI BANK LTD	$1,805,600	0.3%
HCL TECHNOLOGIES LTD	$1,804,366	0.3%
SCB X PCL	$1,771,464	0.3%
ASTRA INTERNATIONAL TBK PT	$1,755,489	0.3%
LARSEN & TOUBRO LTD	$1,746,439	0.3%
UNILEVER PLC	$1,742,639	0.3%
HUAYU AUTOMOTIVE SYSTEMS CO LTD	$1,725,992	0.3%
XINYI GLASS HOLDINGS LTD	$1,706,282	0.3%
DR REDDY'S LABORATORIES LTD	$1,672,162	0.3%
SAMSUNG FIRE & MARINE INSURANCE CO LTD	$1,652,885	0.3%
ANTOFAGASTA PLC	$1,652,757	0.3%
ZHEJIANG SUPOR CO LTD	$1,631,091	0.3%
POWSZECHNY ZAKLAD UBEZPIECZEN SA	$1,612,439	0.3%
HOME PRODUCT CENTER PCL	$1,606,590	0.3%
ASE TECHNOLOGY HOLDING CO LTD	$1,605,221	0.3%
RAIA DROGASIL SA	$1,604,807	0.3%
KALBE FARMA TBK PT	$1,578,198	0.3%
ATACADAO SA	$1,569,589	0.2%
HEINEKEN MALAYSIA BHD	$1,569,035	0.2%
TOPSPORTS INTERNATIONAL HOLDINGS LTD	$1,504,691	0.2%
SAMSUNG ELECTRONICS CO LTD	$1,485,889	0.2%
SHENZHOU INTERNATIONAL GROUP HOLDINGS LTD	$1,423,468	0.2%
DELTA ELECTRONICS INC	$1,400,755	0.2%
KIMBERLY-CLARK DE MEXICO SAB DE CV	$1,365,742	0.2%
HANG SENG BANK LTD	$1,326,023	0.2%
SOUTHERN COPPER CORP	$1,253,192	0.2%
VALE SA	$1,242,000	0.2%
CLICKS GROUP LTD	$1,238,039	0.2%
ANTA SPORTS PRODUCTS LTD	$1,223,512	0.2%
CHINA RESOURCES GAS GROUP LTD	$1,179,703	0.2%
JOYOUNG CO LTD	$1,170,299	0.2%
CHAILEASE HOLDING CO LTD	$1,146,135	0.2%
CREDICORP LTD	$1,140,677	0.2%
WIWYNN CORP	$1,131,690	0.2%
SHENZHEN INOVANCE TECHNOLOGY CO LTD	$1,099,644	0.2%
MYTILINEOS SA	$1,092,621	0.2%
DISCOVERY LTD	$1,076,203	0.2%
TSINGTAO BREWERY CO LTD	$1,068,207	0.2%
KWEICHOW MOUTAI CO LTD	$1,002,709	0.2%
SIAM CEMENT PCL/THE	$986,491	0.2%
HKT TRUST & HKT LTD	$986,194	0.2%
BAIDU INC	$984,323	0.2%
BID CORP LTD	$981,491	0.2%
ALIBABA GROUP HOLDING LTD	$967,362	0.2%
NCSOFT CORP	$964,154	0.2%
CHINA PACIFIC INSURANCE GROUP CO LTD	$959,804	0.2%
SHINHAN FINANCIAL GROUP CO LTD	$948,001	0.2%
REALTEK SEMICONDUCTOR CORP	$915,544	0.1%
ENKA INSAAT VE SANAYI AS	$909,657	0.1%
SAMSUNG ELECTRONICS CO LTD	$887,978	0.1%
WIZZ AIR HOLDINGS PLC	$862,843	0.1%
LG CORP	$851,549	0.1%
AMERICA MOVIL SAB DE CV	$850,442	0.1%
YUM CHINA HOLDINGS INC	$841,347	0.1%
MONDI PLC	$771,713	0.1%
RIO TINTO PLC	$769,428	0.1%
MERCADOLIBRE INC	$752,717	0.1%
SUNNY OPTICAL TECHNOLOGY GROUP CO LTD	$741,820	0.1%
BB SEGURIDADE PARTICIPACOES SA	$740,936	0.1%
AVI LTD	$715,065	0.1%
MR PRICE GROUP LTD	$672,436	0.1%
WH GROUP LTD	$664,512	0.1%
E.SUN FINANCIAL HOLDING CO LTD	$659,046	0.1%
TELEFONICA BRASIL SA	$614,221	0.1%
FULL TRUCK ALLIANCE CO LTD	$570,183	0.1%
NASPERS LTD	$568,256	0.1%
AL RAJHI BANK	$559,784	0.1%
SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS CO LTD	$550,365	0.1%
FALABELLA SA	$470,263	0.1%
AMERICANAS SA	$462,302	0.1%
GRUPO TELEVISA SAB	$431,725	0.1%
TRIP.COM GROUP LTD	$404,267	0.1%
WEIBO CORP	$403,449	0.1%
VOLTRONIC POWER TECHNOLOGY CORP	$385,238	0.1%
TURKCELL ILETISIM HIZMETLERI AS	$299,798	0.1%
SPAR GROUP LTD/THE	$288,489	0.0%
BOLSA MEXICANA DE VALORES SAB DE CV	$267,463	0.0%
BANCO BRADESCO SA	$240,778	0.0%
FUYAO GLASS INDUSTRY GROUP CO LTD	$238,553	0.0%
SK TELECOM CO LTD	$224,709	0.0%
XINYI SOLAR HOLDINGS LTD	$188,387	0.0%
HUAYU AUTOMOTIVE SYSTEMS CO LTD	$126,544	0.0%
JOYOUNG CO LTD	$81,188	0.0%
ACEN CORP	$37,566	0.0%
MOSCOW EXCHANGE MICEX-RTS PJSC	$0	0.0%
SEVERSTAL PAO	$0	0.0%
LUKOIL PJSC	$0	0.0%
MAGNIT PJSC	$0	0.0%
GAZPROM PJSC	$0	0.0%
ALROSA PJSC	$0	0.0%

Short-Term/Cash
Underlying Fund Holdings	Market Value	%
BLACKROCK TEMP FUND - INST SHARES FUND 24	$10,620,300	1.7%
JPMORGAN PRIME MONEY MARKET FUND FUNDS VARIABLE	$10,620,297	1.7%

Other
Underlying Fund Holdings	Market Value	%
YUAN RENMINBI	$15,278,534	2.4%
HONG KONG DOLLAR	$108,091	0.0%
INDIAN RUPEE	$64,478	0.0%
WON	$47,029	0.0%
NEW TAIWAN DOLLAR	$41,230	0.0%
MEXICAN PESO	$28,934	0.0%
QATARI RIAL	$7,167	0.0%
UAE DIRHAM	$312	0.0%
RAND	$132	0.0%
US DOLLAR	$-57	0.0%
YUAN RENMINBI	$-15,308,564	-2.4%

All Holdings As of Jul 31, 2022
Underlying Fund Holdings	Market Value	%
Equity
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD	$58,801,817	8.2%
SAMSUNG ELECTRONICS CO LTD	$35,261,050	4.9%
ALIBABA GROUP HOLDING LTD	$23,671,357	3.3%
TENCENT HOLDINGS LTD	$23,613,689	3.3%
SK HYNIX INC	$16,552,230	2.3%
HOUSING DEVELOPMENT FINANCE CORP LTD	$13,835,112	1.9%
WAL-MART DE MEXICO SAB DE CV	$12,679,881	1.8%
NETEASE INC	$11,849,636	1.7%
MEDIATEK INC	$11,825,254	1.7%
VARUN BEVERAGES LTD	$11,057,765	1.5%
JD.COM INC	$10,677,786	1.5%
BANK RAKYAT INDONESIA PERSERO TBK PT	$10,232,234	1.4%
TELKOM INDONESIA PERSERO TBK PT	$9,309,059	1.3%
INFOSYS LTD	$9,268,801	1.3%
HAIER SMART HOME CO LTD	$9,165,149	1.3%
INFOSYS LTD	$8,770,944	1.2%
AIA GROUP LTD	$8,510,197	1.2%
WULIANGYE YIBIN CO LTD	$8,226,272	1.2%
HONG KONG EXCHANGES & CLEARING LTD	$8,137,801	1.1%
SHANGHAI BAOSIGHT SOFTWARE CO LTD	$7,820,397	1.1%
NARI TECHNOLOGY CO LTD	$7,449,569	1.0%
B3 SA - BRASIL BOLSA BALCAO	$6,943,403	1.0%
CTBC FINANCIAL HOLDING CO LTD	$6,844,521	1.0%
LONGI GREEN ENERGY TECHNOLOGY CO LTD	$6,784,576	1.0%
LG CHEM LTD	$6,725,499	0.9%
MIDEA GROUP CO LTD	$6,710,546	0.9%
INNER MONGOLIA YILI INDUSTRIAL GROUP CO LTD	$6,602,729	0.9%
RELIANCE INDUSTRIES LTD	$6,471,546	0.9%
CHINA MERCHANTS BANK CO LTD	$6,446,136	0.9%
PUBLIC BANK BHD	$6,384,927	0.9%
TATA CONSULTANCY SERVICES LTD	$6,368,267	0.9%
PRESIDENT CHAIN STORE CORP	$6,215,123	0.9%
PING AN INSURANCE GROUP CO OF CHINA LTD	$6,159,337	0.9%
KASIKORNBANK PCL	$5,695,937	0.8%
MAX HEALTHCARE INSTITUTE LTD	$5,529,648	0.8%
PETROLEO BRASILEIRO SA	$5,529,216	0.8%
BANK CENTRAL ASIA TBK PT	$5,339,010	0.7%
PTT EXPLORATION & PRODUCTION PCL	$5,290,051	0.7%
OPAP SA	$5,146,330	0.7%
GRUPO FINANCIERO BANORTE SAB DE CV	$4,869,071	0.7%
KB FINANCIAL GROUP INC	$4,700,428	0.7%
BHARTI AIRTEL LTD	$4,628,437	0.6%
SPRING AIRLINES CO LTD	$4,606,403	0.6%
MONDE NISSIN CORP	$4,507,047	0.6%
PRUDENTIAL PLC	$4,491,358	0.6%
TINGYI CAYMAN ISLANDS HOLDING CORP	$4,487,508	0.6%
CHINA EDUCATION GROUP HOLDINGS LTD	$4,453,629	0.6%
CHINA RESOURCES LAND LTD	$4,430,997	0.6%
YUM CHINA HOLDINGS INC	$4,389,550	0.6%
SK SQUARE CO LTD	$4,338,716	0.6%
NIO INC	$4,265,626	0.6%
GRUPO MEXICO SAB DE CV	$4,226,634	0.6%
ACCTON TECHNOLOGY CORP	$3,940,475	0.6%
SANY HEAVY INDUSTRY CO LTD	$3,857,233	0.5%
CHINA CONSTRUCTION BANK CORP	$3,830,627	0.5%
GUANGDONG INVESTMENT LTD	$3,826,781	0.5%
BANK FOR FOREIGN TRADE OF VIETNAM JSC	$3,783,350	0.5%
SOCIEDAD QUIMICA Y MINERA DE CHILE SA	$3,777,408	0.5%
BANCO SANTANDER CHILE	$3,495,165	0.5%
ADVANTECH CO LTD	$3,473,650	0.5%
MICRON TECHNOLOGY INC	$3,431,312	0.5%
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD	$3,374,627	0.5%
POSTAL SAVINGS BANK OF CHINA CO LTD	$3,331,185	0.5%
XPENG INC	$3,232,427	0.5%
SANLAM LTD	$3,173,508	0.4%
LEMON TREE HOTELS LTD	$3,172,011	0.4%
VODACOM GROUP LTD	$3,147,568	0.4%
GRUPO AEROPORTUARIO DEL PACIFICO SAB DE CV	$3,025,099	0.4%
ITAU UNIBANCO HOLDING SA	$3,003,100	0.4%
UNI-PRESIDENT ENTERPRISES CORP	$2,820,862	0.4%
CHINA PETROLEUM & CHEMICAL CORP	$2,815,537	0.4%
ITAU UNIBANCO HOLDING SA	$2,731,365	0.4%
POSTAL SAVINGS BANK OF CHINA CO LTD	$2,729,272	0.4%
HDFC BANK LTD	$2,677,840	0.4%
FOMENTO ECONOMICO MEXICANO SAB DE CV	$2,604,524	0.4%
NOVATEK MICROELECTRONICS CORP	$2,554,062	0.4%
VANGUARD INTERNATIONAL SEMICONDUCTOR CORP	$2,543,097	0.4%
HDFC BANK LTD	$2,486,880	0.4%
LG H&H CO LTD	$2,478,646	0.4%
BANCO BRADESCO SA	$2,414,497	0.3%
STANDARD BANK GROUP LTD	$2,373,017	0.3%
MAHINDRA & MAHINDRA LTD	$2,342,446	0.3%
QATAR NATIONAL BANK QPSC	$2,337,668	0.3%
DEVYANI INTERNATIONAL LTD	$2,334,579	0.3%
HUAYU AUTOMOTIVE SYSTEMS CO LTD	$2,304,802	0.3%
PETRONET LNG LTD	$2,282,232	0.3%
GANFENG LITHIUM CO LTD	$2,240,082	0.3%
HCL TECHNOLOGIES LTD	$2,186,761	0.3%
DELTA ELECTRONICS INC	$2,117,194	0.3%
ECLAT TEXTILE CO LTD	$2,109,207	0.3%
AKR CORPORINDO TBK PT	$2,105,433	0.3%
CARABAO GROUP PCL	$2,102,497	0.3%
MINOR INTERNATIONAL PCL	$2,087,776	0.3%
ALIBABA GROUP HOLDING LTD	$2,065,698	0.3%
UNILEVER PLC	$2,036,171	0.3%
SM INVESTMENTS CORP	$2,028,465	0.3%
SAMSUNG FIRE & MARINE INSURANCE CO LTD	$2,014,485	0.3%
ANTOFAGASTA PLC	$2,011,439	0.3%
XINYI GLASS HOLDINGS LTD	$2,003,629	0.3%
JOLLIBEE FOODS CORP	$1,983,298	0.3%
REALTEK SEMICONDUCTOR CORP	$1,971,952	0.3%
XINYI SOLAR HOLDINGS LTD	$1,958,707	0.3%
ICICI BANK LTD	$1,951,242	0.3%
POWSZECHNY ZAKLAD UBEZPIECZEN SA	$1,939,652	0.3%
RAIA DROGASIL SA	$1,932,653	0.3%
LARSEN & TOUBRO LTD	$1,904,758	0.3%
CHINA PACIFIC INSURANCE GROUP CO LTD	$1,896,998	0.3%
ZHEJIANG SUPOR CO LTD	$1,884,458	0.3%
EMEMORY TECHNOLOGY INC	$1,868,371	0.3%
ASE TECHNOLOGY HOLDING CO LTD	$1,847,503	0.3%
INDIABULLS REAL ESTATE LTD	$1,838,246	0.3%
BANCO BRADESCO SA	$1,823,846	0.3%
DR REDDY'S LABORATORIES LTD	$1,781,862	0.3%
KALBE FARMA TBK PT	$1,763,881	0.3%
SAMSUNG ELECTRONICS CO LTD	$1,752,492	0.2%
TOPSPORTS INTERNATIONAL HOLDINGS LTD	$1,747,772	0.2%
SOUTHERN COPPER CORP	$1,703,758	0.2%
KIMBERLY-CLARK DE MEXICO SAB DE CV	$1,667,591	0.2%
HEINEKEN MALAYSIA BHD	$1,653,992	0.2%
HOME PRODUCT CENTER PCL	$1,641,770	0.2%
ATACADAO SA	$1,605,670	0.2%
ASTRA INTERNATIONAL TBK PT	$1,597,902	0.2%
HANG SENG BANK LTD	$1,501,665	0.2%
JOYOUNG CO LTD	$1,490,807	0.2%
SHENZHEN INOVANCE TECHNOLOGY CO LTD	$1,455,437	0.2%
SHENZHOU INTERNATIONAL GROUP HOLDINGS LTD	$1,432,573	0.2%
ANTA SPORTS PRODUCTS LTD	$1,409,389	0.2%
CHAILEASE HOLDING CO LTD	$1,397,506	0.2%
TSINGTAO BREWERY CO LTD	$1,367,534	0.2%
VALE SA	$1,346,000	0.2%
FUYAO GLASS INDUSTRY GROUP CO LTD	$1,340,808	0.2%
CREDICORP LTD	$1,338,255	0.2%
DISCOVERY LTD	$1,337,004	0.2%
CLICKS GROUP LTD	$1,286,897	0.2%
WIWYNN CORP	$1,241,947	0.2%
AMERICA MOVIL SAB DE CV	$1,216,858	0.2%
MYTILINEOS SA	$1,173,168	0.2%
HKT TRUST & HKT LTD	$1,132,240	0.2%
SIAM CEMENT PCL/THE	$1,124,985	0.2%
NCSOFT CORP	$1,083,368	0.2%
RIO TINTO PLC	$1,071,870	0.2%
BID CORP LTD	$1,050,679	0.2%
SHINHAN FINANCIAL GROUP CO LTD	$1,048,693	0.2%
SAMSUNG ELECTRONICS CO LTD	$1,034,332	0.1%
WIZZ AIR HOLDINGS PLC	$1,029,893	0.1%
ENKA INSAAT VE SANAYI AS	$1,015,190	0.1%
KWEICHOW MOUTAI CO LTD	$1,014,305	0.1%
LG CORP	$947,908	0.1%
MONDI PLC	$943,353	0.1%
BAIDU INC	$933,729	0.1%
YUM CHINA HOLDINGS INC	$882,606	0.1%
TELEFONICA BRASIL SA	$843,696	0.1%
BB SEGURIDADE PARTICIPACOES SA	$829,533	0.1%
WH GROUP LTD	$812,113	0.1%
SUNNY OPTICAL TECHNOLOGY GROUP CO LTD	$800,028	0.1%
FULL TRUCK ALLIANCE CO LTD	$787,405	0.1%
AVI LTD	$763,503	0.1%
MERCADOLIBRE INC	$757,564	0.1%
MR PRICE GROUP LTD	$742,902	0.1%
NASPERS LTD	$731,581	0.1%
E.SUN FINANCIAL HOLDING CO LTD	$717,390	0.1%
GRUPO TELEVISA SAB	$685,345	0.1%
AL RAJHI BANK	$619,293	0.1%
SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS CO LTD	$597,851	0.1%
FALABELLA SA	$476,794	0.1%
WEIBO CORP	$470,090	0.1%
FUYAO GLASS INDUSTRY GROUP CO LTD	$411,463	0.1%
TRIP.COM GROUP LTD	$405,210	0.1%
AMERICANAS SA	$401,002	0.1%
VOLTRONIC POWER TECHNOLOGY CORP	$369,558	0.1%
BOLSA MEXICANA DE VALORES SAB DE CV	$302,921	0.0%
SPAR GROUP LTD/THE	$281,469	0.0%
SK TELECOM CO LTD	$262,759	0.0%
TURKCELL ILETISIM HIZMETLERI AS	$241,053	0.0%
HUAYU AUTOMOTIVE SYSTEMS CO LTD	$152,697	0.0%
JOYOUNG CO LTD	$93,484	0.0%
ACEN CORP	$42,897	0.0%
GAZPROM PJSC	$0	0.0%
ALROSA PJSC	$0	0.0%
MOSCOW EXCHANGE MICEX-RTS PJSC	$0	0.0%
LUKOIL PJSC	$0	0.0%
MAGNIT PJSC	$0	0.0%
SEVERSTAL PAO	$0	0.0%

Short-Term/Cash
Underlying Fund Holdings	Market Value	%
BLACKROCK TEMP FUND - INST SHARES FUND 24	$6,567,146	0.9%
JPMORGAN PRIME MONEY MARKET FUND FUNDS VARIABLE	$6,566,502	0.9%

Other
Underlying Fund Holdings	Market Value	%
YUAN RENMINBI	$15,867,180	2.2%
HONG KONG DOLLAR	$500,638	0.1%
SAUDI RIYAL	$459,935	0.1%
INDIAN RUPEE	$238,223	0.0%
WON	$48,421	0.0%
NEW TAIWAN DOLLAR	$38,467	0.0%
BAHT	$8,207	0.0%
QATARI RIAL	$7,167	0.0%
UAE DIRHAM	$312	0.0%
CURRENCY CONTRACT - USD	$9	-0.2%
CURRENCY CONTRACT - USD	$-205	0.0%
CURRENCY CONTRACT - USD	$-219	0.0%
CURRENCY CONTRACT - USD	$-508	-0.1%
CURRENCY CONTRACT - USD	$-748	0.0%
CURRENCY CONTRACT - USD	$-9,142	-0.2%
US DOLLAR	$-1,866,096	-0.3%
YUAN RENMINBI	$-15,900,624	-2.2%

All Holdings As of Jun 30, 2022
Underlying Fund Holdings	Market Value	%
Equity
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD	$55,413,069	7.6%
SAMSUNG ELECTRONICS CO LTD	$33,884,905	4.6%
TENCENT HOLDINGS LTD	$27,656,144	3.8%
ALIBABA GROUP HOLDING LTD	$27,231,837	3.7%
SK HYNIX INC	$14,647,132	2.0%
HOUSING DEVELOPMENT FINANCE CORP LTD	$12,683,887	1.7%
WAL-MART DE MEXICO SAB DE CV	$12,647,768	1.7%
NETEASE INC	$11,241,532	1.5%
JD.COM INC	$10,800,004	1.5%
MEDIATEK INC	$10,620,552	1.5%
VARUN BEVERAGES LTD	$10,374,426	1.4%
HAIER SMART HOME CO LTD	$10,282,358	1.4%
INFOSYS LTD	$9,888,034	1.4%
BANK RAKYAT INDONESIA PERSERO TBK PT	$9,873,603	1.4%
INFOSYS LTD	$9,632,567	1.3%
TELKOM INDONESIA PERSERO TBK PT	$9,305,845	1.3%
AIA GROUP LTD	$9,255,547	1.3%
CHINA MERCHANTS BANK CO LTD	$8,956,370	1.2%
HONG KONG EXCHANGES & CLEARING LTD	$8,770,129	1.2%
LONGI GREEN ENERGY TECHNOLOGY CO LTD	$8,758,252	1.2%
WULIANGYE YIBIN CO LTD	$8,063,698	1.1%
CTBC FINANCIAL HOLDING CO LTD	$7,535,689	1.0%
MIDEA GROUP CO LTD	$7,431,254	1.0%
PING AN INSURANCE GROUP CO OF CHINA LTD	$7,213,874	1.0%
TATA CONSULTANCY SERVICES LTD	$7,179,046	1.0%
SHANGHAI BAOSIGHT SOFTWARE CO LTD	$7,043,902	1.0%
RELIANCE INDUSTRIES LTD	$6,718,783	0.9%
GRUPO FINANCIERO BANORTE SAB DE CV	$6,282,234	0.9%
KASIKORNBANK PCL	$6,233,219	0.9%
B3 SA - BRASIL BOLSA BALCAO	$6,216,471	0.9%
PUBLIC BANK BHD	$6,070,729	0.8%
PRESIDENT CHAIN STORE CORP	$6,021,546	0.8%
INNER MONGOLIA YILI INDUSTRIAL GROUP CO LTD	$5,929,219	0.8%
YUM CHINA HOLDINGS INC	$5,916,467	0.8%
LG CHEM LTD	$5,736,752	0.8%
CHINA CONSTRUCTION BANK CORP	$5,610,699	0.8%
MAX HEALTHCARE INSTITUTE LTD	$5,507,018	0.8%
OPAP SA	$5,342,867	0.7%
PTT EXPLORATION & PRODUCTION PCL	$5,304,068	0.7%
BANK CENTRAL ASIA TBK PT	$5,228,203	0.7%
SPRING AIRLINES CO LTD	$5,209,796	0.7%
CHINA EDUCATION GROUP HOLDINGS LTD	$5,201,652	0.7%
CHINA RESOURCES LAND LTD	$4,844,720	0.7%
ACCTON TECHNOLOGY CORP	$4,804,831	0.7%
KB FINANCIAL GROUP INC	$4,719,561	0.6%
NIO INC	$4,695,864	0.6%
BHARTI AIRTEL LTD	$4,694,777	0.6%
TINGYI CAYMAN ISLANDS HOLDING CORP	$4,684,825	0.6%
PRUDENTIAL PLC	$4,529,536	0.6%
PETROLEO BRASILEIRO SA	$4,522,496	0.6%
GUANGDONG INVESTMENT LTD	$4,376,113	0.6%
GANFENG LITHIUM CO LTD	$4,272,195	0.6%
BANCO SANTANDER CHILE	$4,136,552	0.6%
MONDE NISSIN CORP	$4,125,775	0.6%
POSTAL SAVINGS BANK OF CHINA CO LTD	$4,012,371	0.6%
SK SQUARE CO LTD	$3,980,609	0.5%
BANK FOR FOREIGN TRADE OF VIETNAM JSC	$3,797,636	0.5%
XPENG INC	$3,797,339	0.5%
ANTOFAGASTA PLC	$3,627,038	0.5%
ADVANTECH CO LTD	$3,513,814	0.5%
NARI TECHNOLOGY CO LTD	$3,225,627	0.4%
SOCIEDAD QUIMICA Y MINERA DE CHILE SA	$3,207,552	0.4%
CHINA PACIFIC INSURANCE GROUP CO LTD	$3,152,278	0.4%
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD	$3,117,945	0.4%
GRUPO AEROPORTUARIO DEL PACIFICO SAB DE CV	$3,107,558	0.4%
SANY HEAVY INDUSTRY CO LTD	$3,077,323	0.4%
MICRON TECHNOLOGY INC	$3,066,326	0.4%
BANK NEGARA INDONESIA PERSERO TBK PT	$2,998,550	0.4%
LEMON TREE HOTELS LTD	$2,948,350	0.4%
HUAYU AUTOMOTIVE SYSTEMS CO LTD	$2,852,874	0.4%
FOMENTO ECONOMICO MEXICANO SAB DE CV	$2,836,065	0.4%
GRUPO MEXICO SAB DE CV	$2,694,537	0.4%
UNI-PRESIDENT ENTERPRISES CORP	$2,693,934	0.4%
ALIBABA GROUP HOLDING LTD	$2,678,756	0.4%
ITAU UNIBANCO HOLDING SA	$2,597,832	0.4%
HDFC BANK LTD	$2,511,847	0.3%
CHINA PETROLEUM & CHEMICAL CORP	$2,509,841	0.3%
DELTA ELECTRONICS INC	$2,502,968	0.3%
XINYI GLASS HOLDINGS LTD	$2,451,050	0.3%
VODACOM GROUP LTD	$2,420,412	0.3%
NOVATEK MICROELECTRONICS CORP	$2,408,118	0.3%
BANCO BRADESCO SA	$2,370,861	0.3%
QATAR NATIONAL BANK QPSC	$2,316,858	0.3%
ITAU UNIBANCO HOLDING SA	$2,287,654	0.3%
ZHEJIANG SUPOR CO LTD	$2,277,010	0.3%
PETRONET LNG LTD	$2,260,021	0.3%
HCL TECHNOLOGIES LTD	$2,251,480	0.3%
MAHINDRA & MAHINDRA LTD	$2,229,864	0.3%
VANGUARD INTERNATIONAL SEMICONDUCTOR CORP	$2,195,226	0.3%
MINOR INTERNATIONAL PCL	$2,190,027	0.3%
HDFC BANK LTD	$2,176,416	0.3%
LG H&H CO LTD	$2,166,735	0.3%
ECLAT TEXTILE CO LTD	$2,160,794	0.3%
REALTEK SEMICONDUCTOR CORP	$2,097,264	0.3%
SAMSUNG FIRE & MARINE INSURANCE CO LTD	$2,060,122	0.3%
CARABAO GROUP PCL	$2,056,801	0.3%
SM INVESTMENTS CORP	$2,049,880	0.3%
DEVYANI INTERNATIONAL LTD	$2,034,039	0.3%
JOLLIBEE FOODS CORP	$2,012,561	0.3%
KALBE FARMA TBK PT	$2,011,655	0.3%
POWSZECHNY ZAKLAD UBEZPIECZEN SA	$1,985,100	0.3%
OIL & NATURAL GAS CORP LTD	$1,960,159	0.3%
STANDARD BANK GROUP LTD	$1,955,217	0.3%
DR REDDY'S LABORATORIES LTD	$1,952,708	0.3%
SANLAM LTD	$1,952,337	0.3%
TOPSPORTS INTERNATIONAL HOLDINGS LTD	$1,908,288	0.3%
UNILEVER PLC	$1,905,600	0.3%
MYTILINEOS SA	$1,904,228	0.3%
POSTAL SAVINGS BANK OF CHINA CO LTD	$1,874,835	0.3%
XINYI SOLAR HOLDINGS LTD	$1,786,612	0.2%
ENKA INSAAT VE SANAYI AS	$1,781,200	0.2%
RAIA DROGASIL SA	$1,753,177	0.2%
AKR CORPORINDO TBK PT	$1,724,013	0.2%
BANPU PCL	$1,718,707	0.2%
HEINEKEN MALAYSIA BHD	$1,692,370	0.2%
BANCO BRADESCO SA	$1,674,193	0.2%
ASTRA INTERNATIONAL TBK PT	$1,667,372	0.2%
ICICI BANK LTD	$1,665,786	0.2%
SHENZHOU INTERNATIONAL GROUP HOLDINGS LTD	$1,662,404	0.2%
HANG SENG BANK LTD	$1,649,709	0.2%
LARSEN & TOUBRO LTD	$1,647,545	0.2%
HOME PRODUCT CENTER PCL	$1,647,134	0.2%
ASE TECHNOLOGY HOLDING CO LTD	$1,632,876	0.2%
SUNGROW POWER SUPPLY CO LTD	$1,610,772	0.2%
SAMSUNG ELECTRONICS CO LTD	$1,602,792	0.2%
ANTA SPORTS PRODUCTS LTD	$1,575,217	0.2%
JOYOUNG CO LTD	$1,569,577	0.2%
INDIABULLS REAL ESTATE LTD	$1,548,719	0.2%
KIMBERLY-CLARK DE MEXICO SAB DE CV	$1,533,369	0.2%
VALE SA	$1,463,000	0.2%
SHENZHEN INOVANCE TECHNOLOGY CO LTD	$1,461,882	0.2%
TSINGTAO BREWERY CO LTD	$1,457,337	0.2%
ATACADAO SA	$1,418,166	0.2%
FUYAO GLASS INDUSTRY GROUP CO LTD	$1,398,288	0.2%
CHAILEASE HOLDING CO LTD	$1,378,773	0.2%
ANEKA TAMBANG TBK	$1,376,740	0.2%
DISCOVERY LTD	$1,368,407	0.2%
AMERICA MOVIL SAB DE CV	$1,313,281	0.2%
CLICKS GROUP LTD	$1,281,603	0.2%
CREDICORP LTD	$1,240,109	0.2%
WIWYNN CORP	$1,176,468	0.2%
WIZZ AIR HOLDINGS PLC	$1,171,841	0.2%
SIAM CEMENT PCL/THE	$1,171,466	0.2%
YUM CHINA HOLDINGS INC	$1,157,846	0.2%
KWEICHOW MOUTAI CO LTD	$1,101,069	0.2%
SHINHAN FINANCIAL GROUP CO LTD	$1,091,924	0.2%
HKT TRUST & HKT LTD	$1,085,312	0.2%
BID CORP LTD	$1,073,910	0.2%
RIO TINTO PLC	$1,071,343	0.2%
NCSOFT CORP	$1,017,913	0.1%
BAIDU INC	$1,016,867	0.1%
AL RAJHI BANK	$1,003,312	0.1%
SUNNY OPTICAL TECHNOLOGY GROUP CO LTD	$969,639	0.1%
SAMSUNG ELECTRONICS CO LTD	$960,299	0.1%
LG CORP	$913,488	0.1%
SOUTHERN COPPER CORP	$888,212	0.1%
MONDI PLC	$885,145	0.1%
TELEFONICA BRASIL SA	$880,632	0.1%
FULL TRUCK ALLIANCE CO LTD	$840,270	0.1%
WH GROUP LTD	$829,965	0.1%
NASPERS LTD	$756,436	0.1%
MR PRICE GROUP LTD	$748,195	0.1%
AVI LTD	$740,766	0.1%
BB SEGURIDADE PARTICIPACOES SA	$740,134	0.1%
GRUPO TELEVISA SAB	$716,895	0.1%
E.SUN FINANCIAL HOLDING CO LTD	$711,746	0.1%
SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS CO LTD	$627,299	0.1%
MERCADOLIBRE INC	$592,925	0.1%
WEIBO CORP	$577,283	0.1%
FALABELLA SA	$500,806	0.1%
MEGA FINANCIAL HOLDING CO LTD	$437,958	0.1%
TRIP.COM GROUP LTD	$431,459	0.1%
FUYAO GLASS INDUSTRY GROUP CO LTD	$421,931	0.1%
AMERICANAS SA	$381,174	0.1%
VOLTRONIC POWER TECHNOLOGY CORP	$364,993	0.1%
CHICONY ELECTRONICS CO LTD	$306,753	0.0%
SPAR GROUP LTD/THE	$294,760	0.0%
BOLSA MEXICANA DE VALORES SAB DE CV	$288,867	0.0%
SK TELECOM CO LTD	$255,475	0.0%
TURKCELL ILETISIM HIZMETLERI AS	$247,503	0.0%
HUAYU AUTOMOTIVE SYSTEMS CO LTD	$193,449	0.0%
QUANTA COMPUTER INC	$165,048	0.0%
BIM BIRLESIK MAGAZALAR AS	$143,014	0.0%
JOYOUNG CO LTD	$98,657	0.0%
ESR GROUP LTD	$48,267	0.0%
AC ENERGY CORP	$41,278	0.0%
AYALA CORP	$40,309	0.0%
SEVERSTAL PAO	$0	0.0%
MOSCOW EXCHANGE MICEX-RTS PJSC	$0	0.0%
LUKOIL PJSC	$0	0.0%
MAGNIT PJSC	$0	0.0%
ALROSA PJSC	$0	0.0%
GAZPROM PJSC	$0	0.0%

Short-Term/Cash
Underlying Fund Holdings	Market Value	%
BLACKROCK TEMP FUND - INST SHARES FUND 24	$5,222,536	0.7%
JPMORGAN PRIME MONEY MARKET FUND FUNDS VARIABLE	$5,222,536	0.7%

Other
Underlying Fund Holdings	Market Value	%
YUAN RENMINBI	$13,625,972	1.9%
BAHT	$66,391	0.0%
RAND	$52,692	0.0%
INDIAN RUPEE	$49,839	0.0%
WON	$48,447	0.0%
NEW TAIWAN DOLLAR	$38,736	0.0%
QATARI RIAL	$7,167	0.0%
HONG KONG DOLLAR	$3,074	0.0%
UAE DIRHAM	$312	0.0%
RUPIAH	$0	0.0%
CURRENCY CONTRACT - USD	$-3	0.0%
MEXICAN PESO	$-126	0.0%
CURRENCY CONTRACTS - ZAR	$-2,702	0.0%
US DOLLAR	$-296,685	0.0%
YUAN RENMINBI	$-13,588,463	-1.9%

Management

Investment Advisor: MissionSquare Investments

Portfolio Manager Name	Title	Accreditation	Strategy Start Date
Wayne Wicker	Senior Vice President and Chief Investment Officer	CFA	Managed Fund Since 2017
Aimei Zhong	Managing Vice President	CFA, CAIA	Managed Fund Since 2020
Andy Kim	Director, Senior Fund Manager	CFA	Managed Fund Since 2017

Manager Name	Target	Range	Manager Strategy Inception Date	Manager Style
J.P. Morgan Investment Management Inc.	20.00%	+/- 10.00%	07/2019	Income-Focused
Macquarie Investment Management Advisers	18.00%	+/- 10.00%	02/2022	Core
NS Partners Ltd.	55.00%	+/- 10.00%	06/2017	Growth-at-a-Reasonable Price
RBC Global Asset Management (U.S.) Inc.	7.00%	+/- 7.00%	07/2019	Quality Growth

Footnotes

1.	Before investing in the Fund you should carefully consider your investment goals, tolerance for risk, investment time horizon, and personal circumstances. There is no guarantee that the Fund will meet its investment objective and you can lose money.
2.	The Fund is an investment option of VantageTrust, a group trust established and maintained by VantageTrust Company, LLC, a wholly owned subsidiary of MissionSquare Retirement. VantageTrust provides for the commingling of assets of certain trusts and plans as described in its Declaration of Trust, and is only available for investment by such eligible trusts and plans. The Fund is not a mutual fund. Its units are not deposits of VantageTrust Company and are not insured by the Federal Deposit Insurance Corporation or any other agency. The Fund is a security that has not been registered under the Securities Act of 1933 and is exempt from investment company registration under the Investment Company Act of 1940. For additional information regarding the Fund, including a description of the principal risks, please consult the Funds Disclosure Memorandum, which is available when plan administration clients log in at www.missionsq.org, at www.investments.missionsq.org for institutions, or upon request by calling 800-669-7400.
3.	When Funds are marketed to institutional clients, the Funds are offered by MissionSquare Investment Services, an SEC registered broker-dealer and FINRA member firm. MissionSquare Investment Services is a wholly-owned subsidiary of MissionSquare Retirement and is an affiliate of VantageTrust Company, LLC and MissionSquare Investments.
^†	The source for this information is Morningstar, Inc. Copyright © 2022 Morningstar, Inc.™ All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Morningstar, Inc. is a global investment research firm that is not affiliated with MissionSquare Retirement or its affiliates. MissionSquare Retirement does not independently verify Morningstar data.
^‡	Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.

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MissionSquare Emerging Markets Fund R91,2,3

Fund Facts

Documents for Fund or Underlying Fund(s)

Description

Objective

Principal Investment Strategies

Principal Investment Risks

Performance & Expenses

Morningstar Information

Statistics

Trading Restrictions

Purchase, Sale, and Transfer Restrictions

Underlying Fund Characteristics

Management

Management

Footnotes

MissionSquare Emerging Markets Fund R9^1,2,3