<SEC-DOCUMENT>0001752724-21-204332.txt : 20210923
<SEC-HEADER>0001752724-21-204332.hdr.sgml : 20210923
<ACCEPTANCE-DATETIME>20210923110912
ACCESSION NUMBER:		0001752724-21-204332
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20210731
FILED AS OF DATE:		20210923
PERIOD START:           	20211031

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CENTRAL & EASTERN EUROPE FUND, INC.
		CENTRAL INDEX KEY:			0000860489
		IRS NUMBER:				133556099
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06041
		FILM NUMBER:		211271533

	BUSINESS ADDRESS:	
		STREET 1:		875 THIRD AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022-6225
		BUSINESS PHONE:		212-454-4500

	MAIL ADDRESS:	
		STREET 1:		875 THIRD AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022-6225

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CENTRAL EUROPE, RUSSIA & TURKEY FUND, INC.
		DATE OF NAME CHANGE:	20130429

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CENTRAL EUROPE & RUSSIA FUND, INC.
		DATE OF NAME CHANGE:	20070108

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CENTRAL EUROPE & RUSSIA FUND INC
		DATE OF NAME CHANGE:	20030723
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
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      <repPdEnd>2021-10-31</repPdEnd>
      <repPdDate>2021-07-31</repPdDate>
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        <isRestrictedSec>N</isRestrictedSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALLEGRO.EU SA /PLN/</name>
        <lei>222100VRLXV3FPMG4982</lei>
        <title>ALLEGRO.EU SA /PLN/ 144A 0.00000000</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="LU2237380790"/>
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        <balance>210000.00000000</balance>
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        <assetCat>EC</assetCat>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK PEKAO SA /PLN/</name>
        <lei>5493000LKS7B3UTF7H35</lei>
        <title>BANK PEKAO SA /PLN/ 0.00000000</title>
        <cusip>X0R77T117</cusip>
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          <isin value="PLPEKAO00016"/>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>TCS GROUP HOLDING-GDR REG S</name>
        <lei>549300XQRN9MR54V1W18</lei>
        <title>TCS GROUP HOLDING-GDR REG S 0.00000000</title>
        <cusip>87238U203</cusip>
        <identifiers>
          <isin value="US87238U2033"/>
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        <curCd>USD</curCd>
        <valUSD>2729760.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CY</invCountry>

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      <invstOrSec>
        <name>AKBANK T.A.S. /TRY/</name>
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        <title>AKBANK T.A.S. /TRY/ 0.00000000</title>
        <cusip>M0300L106</cusip>
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          <isin value="TRAAKBNK91N6"/>
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      <invstOrSec>
        <name>YANDEX NV-A</name>
        <lei>549300GGZHJ5Q1B18P93</lei>
        <title>YANDEX NV-A 0.00000000</title>
        <cusip>N97284108</cusip>
        <identifiers>
          <isin value="NL0009805522"/>
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        <balance>133000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9051980.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CD PROJEKT SA /PLN/</name>
        <lei>259400TYO5Q8SH8TL437</lei>
        <title>CD PROJEKT SA /PLN/ 0.00000000</title>
        <cusip>X6002X106</cusip>
        <identifiers>
          <isin value="PLOPTTC00011"/>
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        <balance>38000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NOVATEK PJSC-SPONS GDR REG S</name>
        <lei>2138008R6GCRVBDFA581</lei>
        <title>NOVATEK PJSC-SPONS GDR REG S REG S 0.00000000</title>
        <cusip>669888109</cusip>
        <identifiers>
          <isin value="US6698881090"/>
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        <balance>28440.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6330744.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MOBILE TELESYSTEMS-SP ADR</name>
        <lei>2534008FX8EXH1FMJA74</lei>
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        <cusip>607409109</cusip>
        <identifiers>
          <isin value="US6074091090"/>
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        <balance>510000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4357950.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LUKOIL PJSC-SPON ADR</name>
        <lei>549300LCJ1UJXHYBWI24</lei>
        <title>LUKOIL PJSC-SPON ADR 0.00000000</title>
        <cusip>69343P105</cusip>
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          <isin value="US69343P1057"/>
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        <balance>239500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20547902.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EUROCASH SA /PLN/</name>
        <lei>259400FVIQJS5VD8JO79</lei>
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        <cusip>X2382S106</cusip>
        <identifiers>
          <isin value="PLEURCH00011"/>
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        <name>SOK MARKETLER TICARET AS /TRY/</name>
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          <isin value="TRESOKM00022"/>
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        <assetCat>EC</assetCat>
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        <invCountry>TR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MAGNIT  PJSC-SPON GDR REGS</name>
        <lei>2534009KKPTVL99W2Y12</lei>
        <title>MAGNIT  PJSC-SPON GDR REGS REG S 0.00000000</title>
        <cusip>55953Q202</cusip>
        <identifiers>
          <isin value="US55953Q2021"/>
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        <balance>319550.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>RU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ULKER BISKUVI SANAYI /TRY/</name>
        <lei>N/A</lei>
        <title>ULKER BISKUVI SANAYI /TRY/ 0.00000000</title>
        <cusip>M90329109</cusip>
        <identifiers>
          <isin value="TREULKR00015"/>
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        <balance>301791.00000000</balance>
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        <currencyConditional curCd="TRY" exchangeRt="8.41920000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>TR</invCountry>
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      <invstOrSec>
        <name>GAZPROM PAO SPON ADR</name>
        <lei>N/A</lei>
        <title>GAZPROM PAO SPON ADR 0.00000000</title>
        <cusip>368287207</cusip>
        <identifiers>
          <isin value="US3682872078"/>
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        <balance>2733838.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21310267.21000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>RU</invCountry>
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      <invstOrSec>
        <name>GAZPROM PJSC</name>
        <lei>N/A</lei>
        <title>GAZPROM PJSC 0.00000000</title>
        <cusip>368287207</cusip>
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          <isin value="US3682872078"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <name>POWSZECHNY ZAKLAD UBEZPI /PLN/</name>
        <lei>QLPCKOOKVX32FUELX240</lei>
        <title>POWSZECHNY ZAKLAD UBEZPIECZE /PLN/ 0.00000000</title>
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        <name>ALROSA CO</name>
        <lei>894500DKUWVBYZLLE651</lei>
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        <cusip>X0085A109</cusip>
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          <isin value="RU0007252813"/>
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        <name>MAGNITOGORS-SPON GDR REGS</name>
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      <invstOrSec>
        <name>MAGYAR TELEKOM TELECOMMU /HUF/</name>
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        <title>MAGYAR TELEKOM TELECOMMUNICA /HUF/ 0.00000000</title>
        <cusip>X5187V109</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>HU</invCountry>
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      <invstOrSec>
        <name>CEZ AS /CZK/</name>
        <lei>N/A</lei>
        <title>CEZ AS /CZK/ 0.00000000</title>
        <cusip>X2337V121</cusip>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>PURCARI WINERIES PLC /RON/</name>
        <lei>N/A</lei>
        <title>PURCARI WINERIES PLC /RON/ REG S 0.00000000</title>
        <cusip>M8177D107</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>MD</invCountry>
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      <invstOrSec>
        <name>FIX PRICE GROUP LTD-GDR REGS</name>
        <lei>549300EXJV1RPGZNH608</lei>
        <title>FIX PRICE GROUP LTD-GDR REGS REG S 0.00000000</title>
        <cusip>33835G205</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>RU</invCountry>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ORANGE POLSKA SA /PLN/</name>
        <lei>N/A</lei>
        <title>ORANGE POLSKA SA /PLN/ 0.00000000</title>
        <cusip>X6669J101</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>POLYUS PJSC-REG S-GDR</name>
        <lei>N/A</lei>
        <title>POLYUS PJSC-REG S-GDR REG S 0.00000000</title>
        <cusip>73181M117</cusip>
        <identifiers>
          <isin value="US73181M1172"/>
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        <balance>42817.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4123277.10000000</valUSD>
        <pctVal>2.037015320150</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NOVOLIPET STEEL-GDR REG S</name>
        <lei>N/A</lei>
        <title>NOVOLIPET STEEL-GDR REG S 0.00000000</title>
        <cusip>67011E204</cusip>
        <identifiers>
          <isin value="US67011E2046"/>
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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SBERBANK OF RUSSIA /USD/</name>
        <lei>N/A</lei>
        <title>SBERBANK OF RUSSIA /USD/ 0.00000000</title>
        <cusip>X76317100</cusip>
        <identifiers>
          <isin value="RU0009029540"/>
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        <balance>2400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10050069.60000000</valUSD>
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        <assetCat>EC</assetCat>
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          <isCashCollateral>N</isCashCollateral>
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        <name>RICHTER GEDEON NYRT /HUF/</name>
        <lei>549300J6ZJW5IH4WEE46</lei>
        <title>RICHTER GEDEON NYRT /HUF/ 0.00000000</title>
        <cusip>X3124S107</cusip>
        <identifiers>
          <isin value="HU0000123096"/>
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      <invstOrSec>
        <name>MMC NORILSK NICKEL PJSC-ADR</name>
        <lei>253400JPTEEW143W3E47</lei>
        <title>MMC NORILSK NICKEL PJSC-ADR 0.00000000</title>
        <cusip>55315J102</cusip>
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      <invstOrSec>
        <name>OTP BANK PLC /HUF/</name>
        <lei>529900W3MOO00A18X956</lei>
        <title>OTP BANK PLC /HUF/ 0.00000000</title>
        <cusip>X60746181</cusip>
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        <name>CYFROWY POLSAT SA /PLN/</name>
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        <title>CYFROWY POLSAT SA /PLN/ 0.00000000</title>
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        <name>LPP SA /PLN/</name>
        <lei>259400NUS7MKGPJL4752</lei>
        <title>LPP SA /PLN/ 0.00000000</title>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>MONETA MONEY BANK AS /CZK/</name>
        <lei>I6USJ58BDV2BO5KP3C31</lei>
        <title>MONETA MONEY BANK AS /CZK/ 144A 0.00000000</title>
        <cusip>X3R0GS100</cusip>
        <identifiers>
          <isin value="CZ0008040318"/>
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        <balance>853432.00000000</balance>
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        <currencyConditional curCd="CZK" exchangeRt="21.48900000"/>
        <valUSD>3471076.22000000</valUSD>
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        <invCountry>CZ</invCountry>
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      <invstOrSec>
        <name>DWS</name>
        <lei>N/A</lei>
        <title>DWS Gov&amp;Agency Sec Portfolio DWS Gov Cash Inst Shs</title>
        <cusip>147539670</cusip>
        <identifiers>
          <isin value="US1475396701"/>
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        <balance>6888303.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6888303.00000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
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        <name>ROSNEFT OIL CO PJSC-REGS GDR</name>
        <lei>N/A</lei>
        <title>ROSNEFT OIL CO PJSC-REGS GDR REG S 0.00000000</title>
        <cusip>67812M207</cusip>
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        <balance>702997.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5172651.93000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
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        <name>DWS</name>
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        <title>DWS CENTRAL CASH MANAGEMENT GOVERNMENT FUND 0.00000000</title>
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        <balance>2600675.47000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2600657.66000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>SBERBANK PJSC -SPONSORED ADR</name>
        <lei>N/A</lei>
        <title>SBERBANK PJSC -SPONSORED ADR 0.00000000</title>
        <cusip>80585Y308</cusip>
        <identifiers>
          <isin value="US80585Y3080"/>
        </identifiers>
        <balance>1024191.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17052780.15000000</valUSD>
        <pctVal>8.424554929065</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SEVERSTAL PAO - GDR REG S</name>
        <lei>N/A</lei>
        <title>SEVERSTAL PAO - GDR REG S 0.00000000</title>
        <cusip>818150302</cusip>
        <identifiers>
          <isin value="US8181503025"/>
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        <balance>140000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3444000.00000000</valUSD>
        <pctVal>1.701433251381</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ANADOLU EFES BIRACILIK V /TRY/</name>
        <lei>7890006LGARYVIPOJX03</lei>
        <title>ANADOLU EFES BIRACILIK VE /TRY/ 0.00000000</title>
        <cusip>M10225106</cusip>
        <identifiers>
          <isin value="TRAAEFES91A9"/>
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        <balance>337167.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="8.41920000"/>
        <valUSD>889853.04000000</valUSD>
        <pctVal>0.439612529354</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MMC NORILSK NICKEL PJSC-ADR</name>
        <lei>253400JPTEEW143W3E47</lei>
        <title>MMC NORILSK NICKEL PJSC-ADR 0.00000000</title>
        <cusip>55315J102</cusip>
        <identifiers>
          <isin value="US55315J1025"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6912000.00000000</valUSD>
        <pctVal>3.414723180471</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
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        <name>PKO BANK POLSKI SA /PLN/</name>
        <lei>P4GTT6GF1W40CVIMFR43</lei>
        <title>PKO BANK POLSKI SA /PLN/ 0.00000000</title>
        <cusip>X6919X108</cusip>
        <identifiers>
          <isin value="PLPKO0000016"/>
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        <balance>416090.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>
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        <name>POLYMETAL INTERNATIONAL  /GBP/</name>
        <lei>213800JKJ5HJWYS4GR61</lei>
        <title>POLYMETAL INTERNATIONAL PLC /GBP/ 0.00000000</title>
        <cusip>G7179S101</cusip>
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          <isin value="JE00B6T5S470"/>
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        <issuerCat>CORP</issuerCat>
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        <name>MOL HUNGARIAN OIL AND GA /HUF/</name>
        <lei>213800R83KX5FQFGXS67</lei>
        <title>MOL HUNGARIAN OIL AND GAS PL /HUF/ 0.00000000</title>
        <cusip>X5S32S129</cusip>
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          <isin value="HU0000153937"/>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <ncom:dateSigned>2021-08-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Central and Eastern Europe Fund, Inc.</ncom:nameOfApplicant>
      <ncom:signature>Diane Kenneally </ncom:signature>
      <ncom:signerName>Diane Kenneally </ncom:signerName>
      <ncom:title>Treasurer and Chief Financial Officer </ncom:title>
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<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">The Central and Eastern Europe Fund, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 15pc">Schedule of Investments</TD>
  <TD STYLE="text-align: right">as of July 31, 2021 (Unaudited)</TD></TR>
</TABLE>


<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 1pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 74%; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; width: 13%; text-align: right"><A NAME="a_hd_65ace629a918454d99a5d1a05c57908e"></A><FONT STYLE="font-size: 8pt"><B>Shares</B></FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; width: 13%; text-align: right"><A NAME="a_hd_dbfbf17f10124f348d5cb17f5d81057b"></A><FONT STYLE="font-size: 8pt"><B>Value ($)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 12.2pt; text-indent: -12.2pt"><FONT STYLE="font-size: 8pt"><B>Russia&nbsp;&nbsp;71.1%</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Common Stocks </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Banks 14.7% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Sberbank of Russia PJSC</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,400,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">10,050,070</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Sberbank of Russia PJSC (ADR)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,024,191</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">17,052,780</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">TCS Group Holding PLC (GDR) (Registered)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">33,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,729,760</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>29,832,610</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Food &amp; Staples Retailing 5.1% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Magnit PJSC (GDR) (Registered)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">319,550</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4,670,223</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">X5 Retail Group NV (GDR) (Registered)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">174,884</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">5,662,744</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>10,332,967</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Interactive Media &amp; Services 4.5% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Yandex NV ''A''*</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">133,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>9,051,980</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Metals &amp; Mining 14.1% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Alrosa PJSC</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,670,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,958,817</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Magnitogorsk Iron &amp; Steel Works PJSC (GDR) (Registered)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">100,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,230,000</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">MMC Norilsk Nickel PJSC (ADR)<SUP>&dagger;</SUP></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">205,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">7,084,600</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Novolipetsk Steel PJSC (GDR) (Registered)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">70,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,455,600</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Polymetal International PLC</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">330,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">7,172,576</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Polyus PJSC (GDR) (Registered)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">42,817</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4,123,277</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Severstal PJSC (GDR) (Registered)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">140,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,444,000</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>28,468,870</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Multiline Retail 0.5% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Fix Price Group Ltd. (GDR) (Registered)*</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">125,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>955,625</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Oil, Gas &amp; Consumable Fuels 30.1% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Gazprom PJSC (ADR)<SUP>&dagger;</SUP></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,878,242</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">22,434,308</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Lukoil PJSC (ADR)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">239,500</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">20,547,902</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Novatek PJSC (GDR) (Registered)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">28,440</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">6,330,744</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Rosneft Oil Co PJSC (GDR) (Registered)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">702,997</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">5,172,652</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Tatneft PAO (ADR)<SUP>&dagger;</SUP></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">160,548</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">6,401,049</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>60,886,655</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Wireless Telecommunication Services 2.1% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Mobile Telesystems PJSC (ADR)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">510,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>4,357,950</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Total Russia </B>(Cost $84,712,698)</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>&#9;143,886,657</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 12.2pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 12.2pt; text-indent: -12.2pt"><FONT STYLE="font-size: 8pt"><B>Poland&nbsp;&nbsp;12.2%</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Common Stocks </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Banks 3.4% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Bank Polska Kasa Opieki SA*</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">110,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,689,352</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Powszechna Kasa Oszczednosci Bank Polski SA*</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">416,090</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4,089,889</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>6,779,241</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Diversified Telecommunication Services 1.0% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Orange Polska SA*</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,050,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>2,089,254</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Entertainment 0.9% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">CD Projekt SA<SUP>&dagger;</SUP></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">38,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>1,823,550</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Food &amp; Staples Retailing 0.5% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Eurocash SA</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">320,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>1,019,924</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Insurance 1.5% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Powszechny Zaklad Ubezpieczen SA*</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">320,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>3,125,438</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Internet &amp; Direct Marketing Retail 1.8% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Allegro.eu SA 144A*</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">210,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>3,605,735</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Media 0.8% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Cyfrowy Polsat SA</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">185,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>1,641,582</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Metals &amp; Mining 2.1% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">KGHM Polska Miedz SA</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">83,131</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>4,202,222</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>Shares</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>Value ($)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Textiles, Apparel &amp; Luxury Goods 0.2% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">LPP SA</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">137</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>492,527</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Total Poland </B>(Cost $21,437,091)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>&#9;24,779,473</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 12.2pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 12.2pt; text-indent: -12.2pt"><FONT STYLE="font-size: 8pt"><B>Hungary&nbsp;&nbsp;7.8%</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Common Stocks </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Banks 2.7% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">OTP Bank Nyrt*</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">101,478</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>5,488,663</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Diversified Telecommunication Services 0.5% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Magyar Telekom Telecommunications PLC (ADR)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">740,433</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>1,050,921</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Oil, Gas &amp; Consumable Fuels 2.1% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">MOL Hungarian Oil &amp; Gas PLC*</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">515,985</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>4,123,773</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Pharmaceuticals 2.5% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Richter Gedeon Nyrt</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">185,071</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>5,093,979</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 0.5pt solid"><FONT STYLE="font-size: 8pt"><B>Total Hungary </B>(Cost $12,436,136)</FONT></TD>
    <TD STYLE="border-top: black 0.5pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top: black 0.5pt solid"><FONT STYLE="font-size: 8pt"><B>&#9;15,757,336</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 12.2pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 12.2pt; text-indent: -12.2pt"><FONT STYLE="font-size: 8pt"><B>Turkey&nbsp;&nbsp;3.2%</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Common Stocks </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Banks 1.1% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Akbank T.A.S.</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,700,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>2,311,621</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Beverages 0.4% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Anadolu Efes Biracilik ve Malt Sanayii AS</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">337,167</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>889,853</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Food &amp; Staples Retailing 1.3% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Sok Marketler Ticaret AS</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,861,004</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>2,526,520</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Food Products 0.4% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Ulker Biskuvi Sanayi AS</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">301,791</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>714,761</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 0.5pt solid"><FONT STYLE="font-size: 8pt"><B>Total Turkey </B>(Cost $7,639,123)</FONT></TD>
    <TD STYLE="border-top: black 0.5pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top: black 0.5pt solid"><FONT STYLE="font-size: 8pt"><B>&#9;6,442,755</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 12.2pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 12.2pt; text-indent: -12.2pt"><FONT STYLE="font-size: 8pt"><B>Moldova&nbsp;&nbsp;2.0%</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Common Stocks </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Beverages 2.0% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Purcari Wineries PLC&nbsp;&nbsp;(Cost $2,547,425)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,110,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>3,948,416</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 12.2pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 12.2pt; text-indent: -12.2pt"><FONT STYLE="font-size: 8pt"><B>Czech Republic&nbsp;&nbsp;1.9%</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Common Stocks </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Banks 1.7% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Moneta Money Bank AS 144A*</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">853,432</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>3,471,076</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Electric Utilities 0.2% </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">CEZ AS</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">15,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>416,725</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 0.5pt solid"><FONT STYLE="font-size: 8pt"><B>Total Czech Republic </B>(Cost $3,386,246)</FONT></TD>
    <TD STYLE="border-top: black 0.5pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top: black 0.5pt solid"><FONT STYLE="font-size: 8pt"><B>&#9;3,887,801</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 12.2pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 12.2pt; text-indent: -12.2pt"><A NAME="a_hd_c4b42aa14f6140eb93552d1b1144fcc6"></A><FONT STYLE="font-size: 8pt"><B>Securities Lending Collateral</B></FONT><A NAME="a_hd_4cf7ea4374994a3aa6daf8f6ad09e08e"></A><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;</B></FONT><A NAME="a_hd_7326efab92f7422786c9e960c7b0cf86"></A><FONT STYLE="font-size: 8pt"><B>3.4%</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">DWS Government &amp; Agency Securities Portfolio ''DWS Government Cash Institutional Shares'', 0.01% (Cost $6,888,303) (a) (b)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 12.2pt; text-align: right; text-indent: -12.2pt"><FONT STYLE="font-size: 8pt">6,888,303</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 8pt"><B>&#9;6,888,303</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><A NAME="a_hd_9f9c80a93fe640a4aadc1179f4df77dd"></A><FONT STYLE="font-size: 8pt"><B>Cash Equivalents</B></FONT><A NAME="a_hd_a624f8f380ff4b65854b0d81feca0400"></A><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;</B></FONT><A NAME="a_hd_67f87e28c2794ba79dca7716cb6751e7"></A><FONT STYLE="font-size: 8pt"><B>1.4%</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">DWS Central Cash Management Government Fund, 0.03% (Cost $2,869,073) (b)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">2,869,073</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 8pt"><B>&#9;2,869,073</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>% of Net </B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>Assets</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>Value ($)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Total Investment Portfolio</B> (Cost $141,916,095)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">103.0</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>&#9;208,459,814</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><B>Other Assets and Liabilities, Net</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(3.0)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6,096,916)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Net Assets</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">100.0</FONT></TD>
    <TD STYLE="text-align: right; border-top: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>&#9;202,362,898</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">For information on the Fund&rsquo;s policies
regarding the valuation of investments and other significant accounting policies, please refer to the Fund&rsquo;s most recent semi-annual
or annual financial statements.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A summary of the Fund&rsquo;s transactions with affiliated
    investments during the period ended July 31, 2021 are as follows:</P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Value ($) at 10/31/2020</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Purchases Cost<BR>
($)</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Sales Proceeds<BR>
($)</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Net <BR>
Realized<BR>
Gain/ <BR>
(Loss)<BR>
($)</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Net<BR>
Change in<BR>
Unrealized<BR>
Appreciation/<BR>
(Depreciation)<BR>
($)</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Income<BR>
($)</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Capital<BR>
Gain<BR>
Distributions<BR>
($)</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Number<BR>
of Shares<BR>
at<BR>
7/31/2021</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Value ($)<BR>
at<BR>
7/31/2021</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5"><FONT STYLE="font-size: 8pt"><B>Securities Lending Collateral 3.4%</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9"><FONT STYLE="font-size: 8pt">DWS Government &amp; Agency Securities Portfolio ''DWS Government Cash Institutional Shares'', 0.01% (a) (b)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 0.5pt solid"><FONT STYLE="font-size: 8pt">2,351</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt">6,885,952 (c)</FONT></TD>
    <TD STYLE="border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&ndash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt">11,198</FONT></TD>
    <TD STYLE="border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&ndash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt">6,888,303</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt">6,888,303</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5"><FONT STYLE="font-size: 8pt"><B>Cash Equivalents 1.4%</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5"><FONT STYLE="font-size: 8pt">DWS Central Cash Management Government Fund, 0.03% (b)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 0.5pt solid"><FONT STYLE="font-size: 8pt">3,745,774</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt">44,678,292</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt">45,554,993</FONT></TD>
    <TD STYLE="border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&ndash;</FONT></TD>
    <TD STYLE="border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&ndash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;2,119</FONT></TD>
    <TD STYLE="border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&ndash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt">2,869,073</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt">2,869,073</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 0.5pt solid"><FONT STYLE="font-size: 8pt"><B>3,748,125</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>51,564,244</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>45,554,993</B></FONT></TD>
    <TD STYLE="border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>&ndash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>&ndash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>13,317</B></FONT></TD>
    <TD STYLE="border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>&ndash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>9,757,376</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>9,757,376</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 1pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 8pt">*</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 95%; text-align: justify"><FONT STYLE="font-size: 8pt">Non-income producing security.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">&dagger;</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">All or a portion of these securities were on loan. The value of all securities loaned at July 31, 2021 amounted to $6,683,988 which is 3.3% of net assets.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">(a)</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">(b)</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">(c)</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">Represents the net increase (purchases cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended July 31, 2021.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 1pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 8pt">144A:</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 95%; text-align: justify"><FONT STYLE="font-size: 8pt">Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">ADR:</FONT></TD>
    <TD></TD>
    <TD><FONT STYLE="font-size: 8pt">American Depositary Receipt</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">GDR:</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt"></FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">Global Depositary Receipt</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">PJSC:</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt"></FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 8pt">Public Joint Stock Company</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="text-align: left"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;For purposes of its industry concentration policy, the Fund classifies issuers of portfolio securities at the industry subgroup level. Certain of the categories in the above Schedule of Investments consist of multiple industry sub-groups or industries.</FONT></P>
                                             <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Fair Value Measurements</B></FONT></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">Various inputs are used in determining the value of the Fund&rsquo;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&rsquo;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 associated with investing in those securities.</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9"><FONT STYLE="font-size: 8pt">The following is a summary of the inputs used as of July 31, 2021 in valuing the Fund&rsquo;s investments.&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 0.5pt solid"><FONT STYLE="font-size: 8pt"><B>Assets</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Level 1</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Level 2</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Level 3</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;Common Stocks (d) </FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.25in; width: 34%"><FONT STYLE="font-size: 8pt">Russia</FONT></TD>
    <TD STYLE="padding-right: 0.05in; width: 3%"><FONT STYLE="font-size: 8pt"><A NAME="a_hs_b4b124b9174e4bdb8debbb0e22190f65"></A>$</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; width: 11%; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;143,886,657</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; width: 3%; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_6d889d158e574f9e8f0236d442e55a44"></A>$</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; width: 11%; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;&mdash;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; width: 3%; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_52abe5b0a2e941eb98eb0a7367e165f4"></A>$</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; width: 11%; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;&mdash;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; width: 3%; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_3965ccf302664ca3bb10310f0c2a0cb2"></A>$</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; width: 11%; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;143,886,657</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.25in"><FONT STYLE="font-size: 8pt">Poland</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_7e66f2ef903645d3a54b8fa6ab78f9a4"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">24,779,473</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_cc8c6607e1994b9289fff08c5fbfdc39"></A>&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;&mdash;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_b9be7f2e783d4218a69b8b3f3ecd21cd"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_1007ded82ac944b2851fadc954376a59"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">24,779,473</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.25in"><FONT STYLE="font-size: 8pt">Hungary</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_8555d64046714431a6985e59f0db146b"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">15,757,336</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_5040ac00e87c4caaa9c34a8137228203"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_b1bf51883f3b44bbbbd6da89255a4cf5"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_894a502b66214a03bd98f5a14e00287a"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">15,757,336</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.25in"><FONT STYLE="font-size: 8pt">Turkey</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_a332fa49af1142838e74e315b0065cf9"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">6,442,755</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_1f2b0bb4cf9c43c6826e50a58a4fcbe0"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_ad20b308febc42029beb38fc51f6ce67"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_40484f7fa85247fe9aabcfb8c67e0a0b"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">6,442,755</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.25in"><FONT STYLE="font-size: 8pt">Moldova</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_ba560031cc2045d88c2c8badbd8d27b9"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">3,948,416</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_a9518cd7384b4193a1b27c9996f1255b"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_af12f88c90514b688d85126de046c93c"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_f3673ee8c1fd486b985bea5fc6a5fab4"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">3,948,416</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.25in"><FONT STYLE="font-size: 8pt">Czech Republic</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_5becc908444a4069a82fe71756587ad2"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">3,887,801</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_cef3f9c9b79440c78d90c8dbac82f3af"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_95510fac85fc4f25859faf7ac25fc347"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;<A NAME="a_hs_70500141c46648bc905aed417b60a5e3"></A>&nbsp;&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">3,887,801</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.05in"><FONT STYLE="font-size: 8pt">Short-Term Instruments (d)</FONT></TD>
    <TD STYLE="padding-right: 0.05in"><FONT STYLE="font-size: 8pt">&#9;</FONT></TD>
    <TD STYLE="padding-right: 0.05in; text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 8pt">9,757,376</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0.05in; vertical-align: bottom"><FONT STYLE="font-size: 8pt">9,757,376</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid"><FONT STYLE="font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 0.5pt solid"><FONT STYLE="font-size: 8pt"><B><A NAME="a_hs_ace50a6a2c664b98a46975ec63d768a9"></A>$</B></FONT></TD>
    <TD STYLE="padding-right: 0.05in; text-align: right; border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; vertical-align: bottom"><FONT STYLE="font-size: 8pt"><B>&#9;208,459,814</B></FONT></TD>
    <TD STYLE="padding-right: 0.05in; text-align: right; border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; vertical-align: bottom"><FONT STYLE="font-size: 8pt"><B>&#9;<A NAME="a_hs_0e13a4738d5448d2bd315d2389707448"></A>$</B></FONT></TD>
    <TD STYLE="padding-right: 0.05in; text-align: right; border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; vertical-align: bottom"><FONT STYLE="font-size: 8pt"><B>&#9;&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 0.05in; text-align: right; border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; vertical-align: bottom"><FONT STYLE="font-size: 8pt"><B>&#9;<A NAME="a_hs_d3996853a0e5400ca2b976e1448020bf"></A>$</B></FONT></TD>
    <TD STYLE="padding-right: 0.05in; text-align: right; border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; vertical-align: bottom"><FONT STYLE="font-size: 8pt"><B>&#9;&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 0.05in; text-align: right; border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; vertical-align: bottom"><FONT STYLE="font-size: 8pt"><B>&#9;<A NAME="a_hs_58e4584d1e98426080781a05d5ad7681"></A>$</B></FONT></TD>
    <TD STYLE="padding-right: 0.05in; text-align: right; border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; vertical-align: bottom"><FONT STYLE="font-size: 8pt"><B>&#9;208,459,814</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.05in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.05in; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.05in; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.05in; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.05in; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">(d) See Schedule of Investments for additional detailed categorizations.</P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>OBTAIN AN OPEN-END FUND PROSPECTUS</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>To obtain a summary prospectus, if available, or prospectus, download
    one from fundsus.dws.com, talk to your</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>financial representative or call (800) 728-3337. We advise you to carefully
    consider the product's objectives, risks,</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>charges and expenses before investing. The summary prospectus and prospectus
    contain this and other important information about the investment product. Please read the prospectus carefully before you invest.</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 8pt"><B>CLOSED-END
                                            FUNDS</B></FONT></P>
                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Closed-end funds, unlike open-end funds, are not continuously offered. There is a one time public offering and once issued, shares of closed-end funds are sold in the open market through a stock exchange. Shares of closed-end funds frequently trade at a discount to net asset value. The price of the fund&rsquo;s shares is determined by a number of factors, several of which are beyond the control of the fund. Therefore, the fund cannot predict whether its shares will trade at, below or above net asset value.</FONT></P>
                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">The
brand DWS represents DWS Group GmbH &amp; 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.</FONT></P>
                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"> NO BANK GUARANTEE
| NOT FDIC INSURED | MAY LOSE VALUE</FONT></P>
                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"> CEE-PH3</FONT></P>
                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">R-080548-1 (1/23)</FONT></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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