GUINNESS ATKINSON RENMINBI YUAN & BOND FUND

Schedule of Investments

at September 30, 2021 (Unaudited)

Principal Amount (CNH)		Corporate Bonds: 78.5%	Value
		Auto-Cars/Light Trucks: 12.0%
	3,000,000	BMW Finance, 2.800%, 8/11/23	$	465,258
	1,000,000	Volkswagen International Finance NV, 2.900%, 01/21/24		154,692
				619,950
		Commercial Banks: 30.3%
	1,000,000	Bank of China, 3.300%, 04/17/22		155,305
	1,000,000	Bank of China, 3.008%, 04/28/26		155,089
	2,000,000	CBQ Finance Ltd., 4.000%, 08/05/23		313,088
	1,000,000	China Construction Bank, 2.850%, 04/22/23		154,771
	4,000,000	First Abu Dhabi Bank, 3.400%, 08/18/25		623,154
	1,000,000	QNB Finance Ltd., 3.800%, 06/17/25		157,200
				1,558,607
		Diversified Operations: 6.0%
	1,000,000	HSBC Holding, 3.400%, 06/29/27		155,677
	1,000,000	Wharf Finance Lrd., 3.250%, 01/14/24		154,281
				309,958
		Export/Import Bank: 15.2%
	1,000,000	China Development Bank, 3.030%, 11/27/23		155,956
	1,000,000	China Development Bank, 3.230%, 11/27/25		157,423
	1,000,000	European International Bank, 2.700%, 04/22/24		155,277
	1,000,000	Export-Import Bank of Korea, 4.500%, 01/27/24		160,500
	1,000,000	Kreditanstalt Fuer Wiederaufbau, 2.700%, 03/25/24		155,543
				784,699
		Finance-Mtg Loan/Banker: 3.0%
	1,000,000	Hong Kong Mortgage Corp. Ltd., 2.700%, 02/09/24		154,500
		Transportation Services: 3.0%
	1,000,000	GLP China Holding Ltd., 4.000%, 02/7/24		154,625
		Real Estate Operator/Developer: 9.0%
	1,000,000	Sun Hung Kai Properties 3.200%, 08/14/27		153,895
	1,000,000	Wharf Real Estate Investment Company Ltd., 3.200%, 09/15/23		155,239
	1,000,000	Zhenro Properties Group Ltd., 7.120%, 06/30/22		152,760
				461,894
		Total Corporate Bonds	$	4,044,233
		(cost $3,923,665)
		Total Investments in Securities		4,044,233
		(cost $3,923,665): 78.5%
		China Yuan (Offshore): 19.0%		979,994
		Other Assets less Liabilities: 2.5%		130,631
		Net Assets: 100.0%	$	5,154,858

CNH - The official currency of the People’s Republic of China.