iShares Dow Jones U.S. ETF

IYY |NYSE Arca

Semi-Annual Shareholder Report — October 31, 2024

This semi-annual shareholder report contains important information about iShares Dow Jones U.S. ETF (the “Fund”) for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Fund at blackrock.com/fundreports. You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Fund name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
iShares Dow Jones U.S. ETF	$11	0.20%^{Footnote Reference(a)}

⁽ᵃ⁾ Annualized.

Fund performance

Average annual total returns

........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6-Month Total Returns	1 Year	5 Years	10 Years
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	13.76%	37.86%	14.58%	12.38%
S&P Total Market Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	13.84	37.99	14.51	12.37
Dow Jones U.S. Index™........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	13.87	38.10	14.79	12.58

The Fund has added the S&P Total Market Index in response to new regulatory requirements.

Key Fund statistics

Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	$2,211,565,744
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1,030
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2%

Certain sectors and markets performed exceptionally well based on market conditions during the one-year period. Achieving such exceptional returns involves the risk of volatility and investors should not expect that such exceptional returns will be repeated.

Past performance is not an indication of future results.Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit iShares.com for more recent performance information.

What did the Fund invest in?

(as of October 31, 2024)

Sector allocation

Sector	Percent of Total Investments^{Footnote Reference(a)}
Information Technology........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	30.5%
Financials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	13.8
Health Care........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	11.0
Consumer Discretionary........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	10.2
Industrials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	9.4
Communication Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	8.7
Consumer Staples........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	5.5
Energy........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.4
Real Estate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.5
Materials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.5
Utilities........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.5

Ten largest holdings

Security	Percent of Total Investments^{Footnote Reference(a)}
Apple, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6.5%
NVIDIA Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6.2
Microsoft Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	5.7
Amazon.com, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.3
Meta Platforms, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.3
Alphabet, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.9
Alphabet, Inc., Class C, NVS........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.6
Berkshire Hathaway, Inc., Class B........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.6
Broadcom, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.5
Tesla, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.3

⁽ᵃ⁾ Excludes money market funds.

Additional information

If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund’s prospectus, and proxy voting policies and procedures, please visit blackrock.com/fundreports. For proxy voting records, visit blackrock.com/proxyrecords.

The Fund is not sponsored, endorsed, issued, sold or promoted by S&P Dow Jones Indices LLC and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.

©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

iShares Dow Jones U.S. ETF

Semi-Annual Shareholder Report — October 31, 2024

IYY-10/24-SAR

iShares MSCI KLD 400 Social ETF

DSI |NYSE Arca

Semi-Annual Shareholder Report — October 31, 2024

This semi-annual shareholder report contains important information about iShares MSCI KLD 400 Social ETF (the “Fund”) for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Fund at blackrock.com/fundreports. You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Fund name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
iShares MSCI KLD 400 Social ETF	$13	0.25%^{Footnote Reference(a)}

⁽ᵃ⁾ Annualized.

Fund performance

Average annual total returns

........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6-Month Total Returns	1 Year	5 Years	10 Years
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	12.70%	37.85%	15.24%	12.69%
MSCI USA Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	14.11	38.40	15.27	12.95
MSCI KLD 400 Social Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	12.84	38.07	15.50	13.06

The Fund has added the MSCI USA Index in response to new regulatory requirements.

Key Fund statistics

Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	$4,696,097,626
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	405
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1%

What did the Fund invest in?

(as of October 31, 2024)

Sector allocation

Sector	Percent of Total Investments^{Footnote Reference(a)}
Information Technology........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	37.7%
Financials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	12.3
Health Care........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	9.1
Industrials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	9.0
Consumer Discretionary........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	9.0
Communication Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	8.8
Consumer Staples........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	5.9
Real Estate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.0
Materials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.8
Energy........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.4
Utilities........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.0

Ten largest holdings

Security	Percent of Total Investments^{Footnote Reference(a)}
NVIDIA Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	12.4%
Microsoft Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	10.9
Alphabet, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.8
Alphabet, Inc., Class C, NVS........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.3
Tesla, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.7
Visa, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.7
Mastercard, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.6
Home Depot, Inc. (The)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.5
Procter & Gamble Co. (The)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.5
AbbVie, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.4

⁽ᵃ⁾ Excludes money market funds.

Additional information

The Fund is not sponsored, endorsed, issued, sold or promoted by MSCI Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.

iShares MSCI KLD 400 Social ETF

Semi-Annual Shareholder Report — October 31, 2024

DSI-10/24-SAR

iShares MSCI USA ESG Select ETF

SUSA |NYSE Arca

Semi-Annual Shareholder Report — October 31, 2024

This semi-annual shareholder report contains important information about iShares MSCI USA ESG Select ETF (the “Fund”) for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Fund at blackrock.com/fundreports. You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Fund name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
iShares MSCI USA ESG Select ETF	$13	0.25%^{Footnote Reference(a)}

⁽ᵃ⁾ Annualized.

Fund performance

Average annual total returns

........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6-Month Total Returns	1 Year	5 Years	10 Years
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	13.75%	37.84%	14.97%	12.55%
MSCI USA Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	14.11	38.40	15.27	12.95
MSCI USA Extended ESG Select Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	13.90	38.10	15.25	12.93

The Fund has added the MSCI USA Index in response to new regulatory requirements.

Key Fund statistics

Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	$3,650,515,736
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	178
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	9%

The performance of MSCI USA Extended ESG Select Index in this report reflects the performance of the MSCI USA ESG Select Index through May 31, 2018 and, beginning on June 1, 2018, the performance of MSCI USA Extended ESG Select Index.

What did the Fund invest in?

(as of October 31, 2024)

Sector allocation

Sector	Percent of Total Investments^{Footnote Reference(a)}
Information Technology........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	34.0%
Industrials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	11.9
Health Care........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	11.5
Financials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	10.2
Consumer Staples........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	8.4
Consumer Discretionary........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	7.1
Communication Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6.2
Energy........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.9
Materials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.4
Real Estate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.6
Utilities........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	0.8

Ten largest holdings

Security	Percent of Total Investments^{Footnote Reference(a)}
NVIDIA Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	5.1%
Apple, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.9
Microsoft Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.7
Alphabet, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.0
Alphabet, Inc., Class C, NVS........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.9
Coca-Cola Co. (The)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.8
Home Depot, Inc. (The)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.7
Broadcom, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.7
Eli Lilly & Co.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.5
Kellanova........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.4

⁽ᵃ⁾ Excludes money market funds.

Additional information

iShares MSCI USA ESG Select ETF

Semi-Annual Shareholder Report — October 31, 2024

SUSA-10/24-SAR

iShares U.S. Basic Materials ETF

IYM |NYSE Arca

Semi-Annual Shareholder Report — October 31, 2024

This semi-annual shareholder report contains important information about iShares U.S. Basic Materials ETF (the “Fund”) for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Fund at blackrock.com/fundreports. You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Fund name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
iShares U.S. Basic Materials ETF	$20	0.38%^{Footnote Reference(a)}

⁽ᵃ⁾ Annualized.

Fund performance

Average annual total returns

........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6-Month Total Returns	1 Year	5 Years	10 Years
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.96%	20.93%	11.56%	7.57%
Russell 3000^® Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	13.85	37.86	14.60	12.44
Russell 1000 Basic Materials RIC 22.5/45 Capped Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.15	21.39	11.99	7.99

The Fund has added the Russell 3000^® Index in response to new regulatory requirements.

Key Fund statistics

Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	$567,474,517
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	39
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	10%

The performance of the Russell 1000 Basic Materials RIC 22.5/45 Capped Index in this report reflects the performance of the Dow Jones U.S. Basic Materials Index^TM through September 19, 2021 and, beginning on September 20, 2021, the performance of the Russell 1000 Basic Materials RIC 22.5/45 Capped Index.

What did the Fund invest in?

(as of October 31, 2024)

Industry allocation

Industry	Percent of Total Investments^{Footnote Reference(a)}
Chemicals........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	59.0%
Metals & Mining........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	28.2
Containers & Packaging........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	5.7
Trading Companies & Distributors........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.1
Machinery........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.2
Aerospace & Defense........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	0.8

Ten largest holdings

Security	Percent of Total Investments^{Footnote Reference(a)}
Linde PLC........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	21.3%
Air Products and Chemicals, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	8.2
Freeport-McMoRan, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	7.6
Ecolab, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	7.3
Fastenal Co.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.1
Newmont Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.9
Nucor Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.4
Steel Dynamics, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.2
International Paper Co.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.1
International Flavors & Fragrances, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.0

⁽ᵃ⁾ Excludes money market funds.

Additional information

The Fund is not sponsored, endorsed, issued, sold or promoted by FTSE Russell or S&P Dow Jones Indices LLC and their affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.

iShares U.S. Basic Materials ETF

Semi-Annual Shareholder Report — October 31, 2024

IYM-10/24-SAR

iShares U.S. Consumer Discretionary ETF

IYC |NYSE Arca

Semi-Annual Shareholder Report — October 31, 2024

This semi-annual shareholder report contains important information about iShares U.S. Consumer Discretionary ETF (the “Fund”) for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Fund at blackrock.com/fundreports. You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Fund name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
iShares U.S. Consumer Discretionary ETF	$20	0.38%^{Footnote Reference(a)}

⁽ᵃ⁾ Annualized.

Fund performance

Average annual total returns

........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6-Month Total Returns	1 Year	5 Years	10 Years
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	12.60%	35.79%	10.40%	11.48%
Russell 3000^® Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	13.85	37.86	14.60	12.44
Russell 1000 Consumer Discretionary 40 Act 15/22.5 Daily Capped Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	12.80	36.28	10.81	11.93

The Fund has added the Russell 3000^® Index in response to new regulatory requirements.

Key Fund statistics

Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	$1,024,354,022
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	179
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	12%

The performance of the Russell 1000 Consumer Discretionary 40 Act 15/22.5 Daily Capped Index in this report reflects the performance of the Russell 1000 Consumer Discretionary 40 Act 15/22.5 Daily Capped Index through June 23, 2019, the performance of the Dow Jones U.S. Consumer Services Capped (TR) Index^TM beginning on June 24, 2019 through September 19, 2021 and, beginning on September 20, 2021, the performance of the Russell 1000 Consumer Discretionary 40 Act 15/22.5 Daily Capped Index.

What did the Fund invest in?

(as of October 31, 2024)

Industry allocation

Industry	Percent of Total Investments^{Footnote Reference(a)}
Consumer Discretionary Distribution & Retail........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	32.5%
Consumer Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	19.1
Media & Entertainment........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	13.6
Automobiles & Components........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	10.5
Consumer Staples Distribution & Retail........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	10.3
Consumer Durables & Apparel........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	7.9
Transportation........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.4
Commercial & Professional Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.2
Household & Personal Products........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	0.4
Capital Goods........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	0.1

Ten largest holdings

Security	Percent of Total Investments^{Footnote Reference(a)}
Amazon.com, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	14.5%
Tesla, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	7.9
Home Depot, Inc. (The)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.4
Netflix, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.3
Walmart, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.2
Costco Wholesale Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.2
McDonald's Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.6
Walt Disney Co. (The)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.0
Booking Holdings, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.7
Lowe's Companies, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.6

⁽ᵃ⁾ Excludes money market funds.

Additional information

iShares U.S. Consumer Discretionary ETF

Semi-Annual Shareholder Report — October 31, 2024

IYC-10/24-SAR

iShares U.S. Consumer Staples ETF

IYK |NYSE Arca

Semi-Annual Shareholder Report — October 31, 2024

This semi-annual shareholder report contains important information about iShares U.S. Consumer Staples ETF (the “Fund”) for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Fund at blackrock.com/fundreports. You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Fund name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
iShares U.S. Consumer Staples ETF	$19	0.38%^{Footnote Reference(a)}

⁽ᵃ⁾ Annualized.

Fund performance

Average annual total returns

........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6-Month Total Returns	1 Year	5 Years	10 Years
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.50%	14.59%	12.45%	9.62%
Russell 3000^® Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	13.85	37.86	14.60	12.44
Russell 1000 Consumer Staples RIC 22.5/45 Capped Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.70	15.03	12.91	10.07

The Fund has added the Russell 3000^® Index in response to new regulatory requirements.

Key Fund statistics

Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	$1,307,826,155
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	58
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6%

The performance of the Russell 1000 Consumer Staples RIC 22.5/45 Capped Index in this report reflects the performance of the Dow Jones U.S. Consumer Goods Index^TM through September 19, 2021 and, beginning on September 20, 2021, the performance of the Russell 1000 Consumer Staples RIC 22.5/45 Capped Index.

What did the Fund invest in?

(as of October 31, 2024)

Industry allocation

Industry	Percent of Total Investments^{Footnote Reference(a)}
Food, Beverage & Tobacco........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	57.3%
Household & Personal Products........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	26.4
Health Care Equipment & Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	8.1
Consumer Staples Distribution & Retail........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6.2
Materials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.0

Ten largest holdings

Security	Percent of Total Investments^{Footnote Reference(a)}
Procter & Gamble Co. (The)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	15.9%
Coca-Cola Co. (The)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	10.5
PepsiCo, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	9.5
Philip Morris International, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	8.7
Altria Group, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.4
Mondelez International, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.3
Colgate-Palmolive Co.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.6
CVS Health Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.3
McKesson Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.1
Kimberly-Clark Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.1

⁽ᵃ⁾ Excludes money market funds.

Additional information

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by FTSE Russell or S&P Dow Jones Indices LLC and their affiliates, nor do these companies make any representation regarding the advisability of investing in the Funds. BlackRock is not affiliated with the companies listed above.

iShares U.S. Consumer Staples ETF

Semi-Annual Shareholder Report — October 31, 2024

IYK-10/24-SAR

iShares U.S. Energy ETF

IYE |NYSE Arca

Semi-Annual Shareholder Report — October 31, 2024

This semi-annual shareholder report contains important information about iShares U.S. Energy ETF (the “Fund”) for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Fund at blackrock.com/fundreports. You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Fund name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
iShares U.S. Energy ETF	$19	0.38%^{Footnote Reference(a)}

⁽ᵃ⁾ Annualized.

Fund performance

Average annual total returns

........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6-Month Total Returns	1 Year	5 Years	10 Years
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	(3.32)%	7.01%	13.22%	2.90%
Russell 3000^® Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	13.85	37.86	14.60	12.44
Russell 1000 Energy RIC 22.5/45 Capped Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	(3.13)	7.43	13.67	3.30

The Fund has added the Russell 3000^® Index in response to new regulatory requirements.

Key Fund statistics

Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	$1,246,930,127
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	45
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	8%

The performance of the Russell 1000 Energy RIC 22.5/45 Capped Index in this report reflects the performance of the Dow Jones U.S. Oil & Gas Index^TMthrough September 19, 2021 and, beginning on September 20, 2021, the performance of the Russell 1000 Energy RIC 22.5/45 Capped Index.

What did the Fund invest in?

(as of October 31, 2024)

Industry allocation

Industry	Percent of Total Investments^{Footnote Reference(a)}
Oil, Gas & Consumable Fuels........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	89.9%
Energy Equipment & Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	8.3
Semiconductors & Semiconductor Equipment........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.8

Ten largest holdings

Security	Percent of Total Investments^{Footnote Reference(a)}
Exxon Mobil Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	22.7%
Chevron Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	14.9
ConocoPhillips........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	7.4
EOG Resources, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.1
Williams Companies, Inc. (The)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.7
Schlumberger N.V.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.3
ONEOK, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.3
Marathon Petroleum Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.0
Phillips 66........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.0
Kinder Morgan, Inc., Class P........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.8

⁽ᵃ⁾ Excludes money market funds.

Additional information

iShares U.S. Energy ETF

Semi-Annual Shareholder Report — October 31, 2024

IYE-10/24-SAR

iShares U.S. Financial Services ETF

IYG |NYSE Arca

Semi-Annual Shareholder Report — October 31, 2024

This semi-annual shareholder report contains important information about iShares U.S. Financial Services ETF (the “Fund”) for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Fund at blackrock.com/fundreports. You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Fund name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
iShares U.S. Financial Services ETF	$21	0.38%^{Footnote Reference(a)}

⁽ᵃ⁾ Annualized.

Fund performance

Average annual total returns

........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6-Month Total Returns	1 Year	5 Years	10 Years
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	16.80%	50.49%	11.38%	11.38%
S&P Total Market Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	13.84	37.99	14.51	12.37
Dow Jones U.S. Financial Services Index™........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	17.01	51.08	11.81	11.83

The Fund has added the S&P Total Market Index in response to new regulatory requirements.

Key Fund statistics

Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	$1,473,614,680
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	105
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2%

What did the Fund invest in?

(as of October 31, 2024)

Industry allocation

Industry	Percent of Total Investments^{Footnote Reference(a)}
Financial Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	68.5%
Banks........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	31.5

Industry

Percent of Total InvestmentsFootnote Reference(a)

Financial Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

68.5%

Banks........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

31.5

Ten largest holdings

Security	Percent of Total Investments^{Footnote Reference(a)}
Berkshire Hathaway, Inc., Class B........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	14.5%
JPMorgan Chase & Co.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	11.1
Visa, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	8.5
Mastercard, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	7.2
Bank of America Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	5.0
Wells Fargo & Co.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.9
Goldman Sachs Group, Inc. (The)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.9
S&P Global, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.7
American Express Co.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.7
Morgan Stanley........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.5

⁽ᵃ⁾ Excludes money market funds.

Additional information

iShares U.S. Financial Services ETF

Semi-Annual Shareholder Report — October 31, 2024

IYG-10/24-SAR

iShares U.S. Financials ETF

IYF |NYSE Arca

Semi-Annual Shareholder Report — October 31, 2024

This semi-annual shareholder report contains important information about iShares U.S. Financials ETF (the “Fund”) for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Fund at blackrock.com/fundreports. You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Fund name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
iShares U.S. Financials ETF	$21	0.38%^{Footnote Reference(a)}

⁽ᵃ⁾ Annualized.

Fund performance

Average annual total returns

........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6-Month Total Returns	1 Year	5 Years	10 Years
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	17.91%	49.38%	12.17%	11.29%
Russell 3000^® Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	13.85	37.86	14.60	12.44
Russell 1000 Financials 40 Act 15/22.5 Daily Capped Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	18.13	49.99	12.63	11.74

The Fund has added the Russell 3000^® Index in response to new regulatory requirements.

Key Fund statistics

Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	$3,278,651,286
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	141
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2%

The performance of the Russell 1000 Financials 40 Act 15/22.5 Daily Capped Index in this report reflects the performance of the Dow Jones U.S. Financials Capped (TR) Index^TM through September 19, 2021 and, beginning on September 20, 2021, the performance of the Russell 1000 Financials 40 Act 15/22.5 Daily Capped Index.

What did the Fund invest in?

(as of October 31, 2024)

Industry allocation

Industry	Percent of Total Investments^{Footnote Reference(a)}
Financial Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	47.4%
Banks........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	30.5
Insurance........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	21.7
Commercial & Professional Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	0.4

Ten largest holdings

Security	Percent of Total Investments^{Footnote Reference(a)}
Berkshire Hathaway, Inc., Class B........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	12.1%
JPMorgan Chase & Co.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	9.6
Bank of America Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.5
Wells Fargo & Co.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.1
Goldman Sachs Group, Inc. (The)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.0
S&P Global, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.7
BlackRock, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.6
Progressive Corp. (The)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.6
Morgan Stanley........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.4
Citigroup, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.2

⁽ᵃ⁾ Excludes money market funds.

Additional information

The Fund is not sponsored, endorsed, issued, sold or promoted by FTSE Russell or S&P Dow Jones and their affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.

iShares U.S. Financials ETF

Semi-Annual Shareholder Report — October 31, 2024

IYF-10/24-SAR

iShares U.S. Healthcare ETF

IYH |NYSE Arca

Semi-Annual Shareholder Report — October 31, 2024

This semi-annual shareholder report contains important information about iShares U.S. Healthcare ETF (the “Fund”) for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Fund at blackrock.com/fundreports. You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Fund name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
iShares U.S. Healthcare ETF	$20	0.38%^{Footnote Reference(a)}

⁽ᵃ⁾ Annualized.

Fund performance

Average annual total returns

........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6-Month Total Returns	1 Year	5 Years	10 Years
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6.18%	20.77%	10.69%	9.62%
Russell 3000^® Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	13.85	37.86	14.60	12.44
Russell 1000 Health Care RIC 22.5/45 Capped Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6.37	21.22	11.12	10.05

The Fund has added the Russell 3000^® Index in response to new regulatory requirements.

Key Fund statistics

Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	$3,305,990,724
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	110
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3%

The performance of the Russell 1000 Health Care RIC 22.5/45 Capped Index in this report reflects the performance of the Dow Jones U.S. Health Care Index^TM through September 19, 2021 and, beginning on September 20, 2021, the performance of the Russell 1000 Health Care RIC 22.5/45 Capped Index.

What did the Fund invest in?

(as of October 31, 2024)

Industry allocation

Industry	Percent of Total Investments^{Footnote Reference(a)}
Pharmaceuticals........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	30.9%
Health Care Equipment & Supplies........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	21.1
Biotechnology........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	18.9
Health Care Providers & Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	17.6
Life Sciences Tools & Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	10.8
Health Care Technology........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	0.7

Ten largest holdings

Security	Percent of Total Investments^{Footnote Reference(a)}
Eli Lilly & Co.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	11.9%
UnitedHealth Group, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	9.3
Johnson & Johnson........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6.9
AbbVie, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6.5
Merck & Co., Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.6
Thermo Fisher Scientific, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.7
Abbott Laboratories........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.5
Intuitive Surgical, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.2
Amgen, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.1
Pfizer, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.9

⁽ᵃ⁾ Excludes money market funds.

Additional information

iShares U.S. Healthcare ETF

Semi-Annual Shareholder Report — October 31, 2024

IYH-10/24-SAR

iShares U.S. Industrials ETF

IYJ |Cboe BZX Exchange

Semi-Annual Shareholder Report — October 31, 2024

This semi-annual shareholder report contains important information about iShares U.S. Industrials ETF (the “Fund”) for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Fund at blackrock.com/fundreports. You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Fund name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
iShares U.S. Industrials ETF	$20	0.38%^{Footnote Reference(a)}

⁽ᵃ⁾ Annualized.

Fund performance

Average annual total returns

........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6-Month Total Returns	1 Year	5 Years	10 Years
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	11.31%	38.22%	11.86%	11.16%
Russell 3000^® Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	13.85	37.86	14.60	12.44
Russell 1000 Industrials 40 Act 15/22.5 Daily Capped Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	11.52	38.75	12.30	11.63

The Fund has added the Russell 3000^® Index in response to new regulatory requirements.

Key Fund statistics

Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	$1,537,927,026
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	193
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3%

The performance of the Russell 1000 Industrials 40 Act 15/22.5 Daily Capped Index in this report reflects the performance of the Dow Jones U.S. Industrials Index^TM through September 19, 2021 and, beginning on September 20, 2021, the performance of the Russell 1000 Industrials 40 Act 15/22.5 Daily Capped Index.

What did the Fund invest in?

(as of October 31, 2024)

Industry allocation

Industry	Percent of Total Investments^{Footnote Reference(a)}
Capital Goods........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	48.4%
Financial Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	22.3
Transportation........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	8.6
Materials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	7.5
Commercial & Professional Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6.7
Software & Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.0
Technology Hardware & Equipment........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.6
Consumer Durables & Apparel........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	0.4
Pharmaceuticals, Biotechnology & Life Sciences........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	0.4
Semiconductors & Semiconductor Equipment........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	0.1
Other^{Footnote Reference(b)}........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	0.0^{Footnote Reference(c)}

Ten largest holdings

Security	Percent of Total Investments^{Footnote Reference(a)}
Visa, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6.9%
Mastercard, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6.2
Accenture PLC, Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.2
General Electric Co........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.8
Caterpillar, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.8
RTX Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.4
American Express Co.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.3
Union Pacific Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.1
Honeywell International, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.0
Eaton Corp. PLC........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.0

⁽ᵃ⁾ Excludes money market funds.

⁽ᵇ⁾ Ten largest industries are presented. Additional industries are found in Other.

⁽ᶜ⁾Rounds to less than 0.1%.

Additional information

iShares U.S. Industrials ETF

Semi-Annual Shareholder Report — October 31, 2024

IYJ-10/24-SAR

iShares U.S. Technology ETF

IYW |NYSE Arca

Semi-Annual Shareholder Report — October 31, 2024

This semi-annual shareholder report contains important information about iShares U.S. Technology ETF (the “Fund”) for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Fund at blackrock.com/fundreports. You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Fund name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
iShares U.S. Technology ETF	$21	0.38%^{Footnote Reference(a)}

⁽ᵃ⁾ Annualized.

Fund performance

Average annual total returns

........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6-Month Total Returns	1 Year	5 Years	10 Years
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	17.78%	45.86%	23.85%	20.39%
Russell 3000^® Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	13.85	37.86	14.60	12.44
Russell 1000 Technology RIC 22.5/45 Capped Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	18.03	46.28	24.31	20.89

The Fund has added the Russell 3000^® Index in response to new regulatory requirements.

Key Fund statistics

Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	$18,536,634,853
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	144
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	5%

The performance of the Russell 1000 Technology RIC 22.5/45 Capped Index in this report reflects the performance of the Dow Jones U.S. Technology Total Return Index through June 23, 2019, the performance of the Dow Jones U.S. Technology Capped Index^TM beginning on June 24, 2019 through September 19, 2021 and, beginning on September 20, 2021, the performance of the Russell 1000 Technology RIC 22.5/45 Capped Index.

What did the Fund invest in?

(as of October 31, 2024)

Industry allocation

Industry	Percent of Total Investments^{Footnote Reference(a)}
Software........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	34.1%
Semiconductors & Semiconductor Equipment........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	31.7
Technology Hardware, Storage & Peripherals........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	17.0
Interactive Media & Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	9.3
IT Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.1
Electronic Equipment, Instruments & Components........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.6
Professional Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	1.0
Hotels, Restaurants & Leisure........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	0.5
Electrical Equipment........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	0.4
Communications Equipment........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	0.1
Other^{Footnote Reference(b)}........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	0.2

Ten largest holdings

Security	Percent of Total Investments^{Footnote Reference(a)}
Apple, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	15.5%
NVIDIA Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	14.8
Microsoft Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	14.3
Meta Platforms, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.1
Broadcom, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.4
Alphabet, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.7
Salesforce, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.4
Oracle Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.3
Alphabet, Inc., Class C, NVS........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.2
Advanced Micro Devices, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.1

⁽ᵃ⁾ Excludes money market funds.

⁽ᵇ⁾ Ten largest industries are presented. Additional industries are found in Other.

Additional information

iShares U.S. Technology ETF

Semi-Annual Shareholder Report — October 31, 2024

IYW-10/24-SAR

iShares U.S. Transportation ETF

IYT |Cboe BZX Exchange

Semi-Annual Shareholder Report — October 31, 2024

This semi-annual shareholder report contains important information about iShares U.S. Transportation ETF (the “Fund”) for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Fund at blackrock.com/fundreports. You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Fund name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
iShares U.S. Transportation ETF	$20	0.38%^{Footnote Reference(a)}

⁽ᵃ⁾ Annualized.

Fund performance

Average annual total returns

........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6-Month Total Returns	1 Year	5 Years	10 Years
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	8.35%	28.72%	9.29%	7.10%
S&P Total Market Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	13.84	37.99	14.51	12.37
S&P Transportation Select Industry FMC Capped Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	8.57	29.23	10.30	7.73

The Fund has added the S&P Total Market Index in response to new regulatory requirements.

Key Fund statistics

Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	$647,757,785
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	47
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	5%

The performance of the S&P Transportation Select Industry FMC Capped Index in this report reflects the performance of the Dow Jones Transportation Average Index^TM through July 18, 2021 and, beginning on July 19, 2021, the performance of the S&P Transportation Select Industry FMC Capped Index.

What did the Fund invest in?

(as of October 31, 2024)

Industry allocation

Industry	Percent of Total Investments^{Footnote Reference(a)}
Ground Transportation........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	61.1%
Air Freight & Logistics........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	19.6
Passenger Airlines........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	17.2
Marine Transportation........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.1

Ten largest holdings

Security	Percent of Total Investments^{Footnote Reference(a)}
Uber Technologies, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	17.4%
Union Pacific Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	16.3
United Parcel Service, Inc., Class B........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	8.6
Delta Air Lines, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	5.5
Old Dominion Freight Line, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.5
United Airlines Holdings, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.4
CSX Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.3
Norfolk Southern Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.2
FedEx Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.1
Southwest Airlines Co.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.1

⁽ᵃ⁾ Excludes money market funds.

Additional information

iShares U.S. Transportation ETF

Semi-Annual Shareholder Report — October 31, 2024

IYT-10/24-SAR

iShares U.S. Utilities ETF

IDU |NYSE Arca

Semi-Annual Shareholder Report — October 31, 2024

This semi-annual shareholder report contains important information about iShares U.S. Utilities ETF (the “Fund”) for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Fund at blackrock.com/fundreports. You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Fund name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
iShares U.S. Utilities ETF	$21	0.38%^{Footnote Reference(a)}

⁽ᵃ⁾ Annualized.

Fund performance

Average annual total returns

........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6-Month Total Returns	1 Year	5 Years	10 Years
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	19.47%	38.93%	7.43%	9.01%
Russell 3000^® Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	13.85	37.86	14.60	12.44
Russell 1000 Utilities RIC 22.5/45 Capped Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	19.71	39.49	7.84	9.46

The Fund has added the Russell 3000^® Index in response to new regulatory requirements.

Key Fund statistics

Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	$1,456,367,908
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	47
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2%

The performance of the Russell 1000 Utilities RIC 22.5/45 Capped Index in this report reflects the performance of the Dow Jones Utilities Index^TMthrough September 19, 2021 and, beginning on September 20, 2021, the performance of the Russell 1000 Utilities RIC 22.5/45 Capped Index.

What did the Fund invest in?

(as of October 31, 2024)

Industry allocation

Industry	Percent of Total Investments^{Footnote Reference(a)}
Electric Utilities........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	58.0%
Multi-Utilities........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	22.5
Commercial Services & Supplies........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	10.3
Independent Power and Renewable Electricity Producers........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	4.4
Water Utilities........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.6
Gas Utilities........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	2.2

Ten largest holdings

Security	Percent of Total Investments^{Footnote Reference(a)}
NextEra Energy, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	11.6%
Southern Co. (The)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	7.1
Duke Energy Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6.3
Waste Management, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	6.2
Constellation Energy Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	5.9
Sempra........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.8
American Electric Power Co., Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.7
Dominion Energy, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.5
Public Service Enterprise Group, Inc.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.2
PG&E Corp.........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................	3.1

⁽ᵃ⁾ Excludes money market funds.

Additional information

iShares U.S. Utilities ETF

Semi-Annual Shareholder Report — October 31, 2024

IDU-10/24-SAR