The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ISHARES INC MIN VOL GBL ETF 464286525 70,674 879,681 SH   DFND NONE 879,681 0 0
ISHARES TR CORE US AGGRD ET 464287226 101,126 876,534 SH   DFND NONE 876,534 0 0
INVESCO EXCHNG TRADED FD TR SR LN ETF 46138G508 42,498 2,077,117 SH   DFND NONE 2,077,117 0 0
VANGUARD CHARLOTTE FDS INTL BD IDX ETF 92203J407 75,541 1,342,708 SH   DFND NONE 1,342,708 0 0
SPDR SERIES TRUST BLOMBERG INTL TR 78464A516 31,101 1,118,735 SH   DFND NONE 1,118,735 0 0
INVESCO EXCHNG TRADED FD TR S&P GBL WATER 46138E263 12,780 385,403 SH   DFND NONE 385,403 0 0
SPDR SERIES TRUST BLMBRG BRC CNVRT 78464A359 45,705 954,968 SH   DFND NONE 954,968 0 0
INVESCO DB MLTI SECTR CMMTY AGRICULTURE FD 46140H106 7,301 518,882 SH   DFND NONE 518,882 0 0
INVESCO DB MLTI SECTR CMMTY BASE METALS FD 46140H700 8,871 718,284 SH   DFND NONE 718,284 0 0
ISHARES INC EM MKT SM-CP ETF 464286475 1,401 43,663 SH   DFND NONE 43,663 0 0
ISHARES TR JPMORGAN USD EMG 464288281 63,513 656,944 SH   DFND NONE 656,944 0 0
ISHARES INC EM HGHYL BD ETF 464286285 7,049 185,405 SH   DFND NONE 185,405 0 0
VANECK VECTORS ETF TR JP MORGAN MKTS 92189H300 36,994 1,299,392 SH   DFND NONE 1,299,392 0 0
SPDR INDEX SHS FDS S&P EMKTSC ETF 78463X756 3,681 111,185 SH   DFND NONE 111,185 0 0
FIRST TR EXCHANGE TRADED FD WTR ETF 33733B100 10,958 229,505 SH   DFND NONE 229,505 0 0
ISHARES TR FLTG RATE NT ETF 46429B655 31,850 653,473 SH   DFND NONE 653,473 0 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 43,398 1,883,605 SH   DFND NONE 1,883,605 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 25,253 170,570 SH   DFND NONE 170,570 0 0
SPDR INDEX SHS FDS GLB NAT RESRCE 78463X541 36,616 1,183,440 SH   DFND NONE 1,183,440 0 0
FLEXSHARES TR MORNSTAR UPSTR 33939L407 60,359 2,679,059 SH   DFND NONE 2,679,059 0 0
ISHARES TR GLB INFRASTR ETF 464288372 83,192 2,436,081 SH   DFND NONE 2,436,081 0 0
VANECK VECTORS ETF TR INTL HIGH YIELD 92189F445 2,764 130,048 SH   DFND NONE 130,048 0 0
ISHARES TR MICRO-CAP ETF 464288869 42,995 641,427 SH   DFND NONE 641,427 0 0
SPDR SERIES TRUST BLOOMBERG BRCLYS 78468R622 45,142 476,488 SH   DFND NONE 476,488 0 0
GLOBAL X FDS LITHIUM BTRY ETF 37954Y855 10,271 473,099 SH   DFND NONE 473,099 0 0
VANECK VECTORS ETF TR AGRIBUSINESS ETF 92189F700 57,136 1,112,243 SH   DFND NONE 1,112,243 0 0
INVESCO ACTIVELY MANAGD ETF OPTIMUM YIELD 46090F100 12,709 1,075,230 SH   DFND NONE 1,075,230 0 0
ISHARES TR PFD AND INCM SEC 464288687 27,894 876,059 SH   DFND NONE 876,059 0 0
INVESCO EXCHANGE TRADED FD T WATER RES ETF 46137V142 21,827 696,687 SH   DFND NONE 696,687 0 0
INVESCO EXCHNG TRADED FD TR GLOBAL WATER 46138E651 10,303 420,375 SH   DFND NONE 420,375 0 0
SPDR INDEX SHS FDS DJ INTL RL ETF 78463X863 61,992 2,315,724 SH   DFND NONE 2,315,724 0 0
SCHWAB STRATEGIC TR US TIPS ETF 808524870 99,804 1,735,416 SH   DFND NONE 1,735,416 0 0
GLOBAL X FDS GLOBAL X SILVER 37954Y848 20,577 862,768 SH   DFND NONE 862,768 0 0
ISHARES TR 0-5YR INVT GR CP 46434V100 7,730 154,163 SH   DFND NONE 154,163 0 0
ISHARES SILVER TRUST ISHARES 46428Q109 15,519 1,189,165 SH   DFND NONE 1,189,165 0 0
ISHARES TR 20 YR TR BD ETF 464287432 5,708 34,603 SH   DFND NONE 34,603 0 0
ISHARES TR USD INV GRDE ETF 464288620 31,957 570,449 SH   DFND NONE 570,449 0 0
VANGUARD INDEX FDS SMALL CP ETF 922908751 78,684 681,605 SH   DFND NONE 681,605 0 0
VANGUARD SCOTTSDALE FDS LG-TERM COR BD 92206C813 9,931 102,241 SH   DFND NONE 102,241 0 0
VANGUARD SCOTTSDALE FDS MORTG-BACK SEC 92206C771 82,393 1,511,798 SH   DFND NONE 1,511,798 0 0
VANGUARD INDEX FDS REAL ESTATE ETF 922908553 69,964 1,001,631 SH   DFND NONE 1,001,631 0 0
INVESCO EXCHNG TRADED FD TR VAR RATE PFD 46138G870 5,199 242,264 SH   DFND NONE 242,264 0 0
VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 61,937 791,533 SH   DFND NONE 791,533 0 0
VANGUARD WHITEHALL FDS INC EMERG MKT BD ETF 921946885 6,981 99,168 SH   DFND NONE 99,168 0 0
SPDR SERIES TRUST FTSE INT GVT ETF 78464A490 12,902 264,442 SH   DFND NONE 264,442 0 0
ISHARES TR GL TIMB FORE ETF 464288174 15,532 322,771 SH   DFND NONE 322,771 0 0