LEGAL PROCEEDINGS

In re: Jensen, et al., v. iShares Trust, et al.,
CGC 16-552567

On June 16, 2016, Garth Jensen, Philip
Steele, Seth Hardy, Ray Moylan, Kenneth
Powaga, Cynthia Powaga, Roger Foster and
Robert Kachelek (the "Plaintiffs"), investors in
certain iShares funds (iShares Core S&P
Small-Cap ETF, iShares Russell 1000 Growth
ETF, iShares Core S&P 500 ETF, iShares
Russell Mid-Cap Growth ETF, iShares Russell
Mid-Cap ETF, iShares Russell Mid-Cap Value
ETF, iShares Select Dividend ETF, iShares
Morningstar Mid-Cap ETF, iShares
Morningstar Large-Cap ETF, iShares U.S.
Aerospace & Defense ETF and iShares U.S.
Preferred Stock ETF) filed a putative class
action lawsuit against iShares Trust,
BlackRock, Inc. and certain of its advisory
affiliates, and certain directors/trustees and
officers of the Funds (collectively,
"Defendants"). The lawsuit alleges the
Defendants violated federal securities laws by
failing to adequately disclose in the
prospectuses issued by the funds noted
above the risks of using stop-loss orders in
the event of a 'flash crash', such as the one
that occurred on May 6, 2010. The plaintiffs'
complaint was dismissed in December 2016
and on January 6, 2017, plaintiffs filed an
amended complaint. On April 27, 2017, the
court partially granted the defendants' motion
for judgment on the pleadings, dismissing
certain of the plaintiffs' claims. On September
18, 2017, the Court issued a Statement of
Decision holding that the Plaintiffs lack
standing to assert their claims. On October
11, 2017, the Court entered final judgment
dismissing all of the Plaintiffs' claims with
prejudice. On December 1, 2017, the Plaintiffs
appealed the Court's decision.

INTERNAL CONTROL RPT

Report of Independent Registered Public
Accounting Firm

To the Board of Trustees of iShares Trust and
Shareholders of
iShares Asia 50 ETF, iShares Core S&P 500 ETF, iShares
Core S&P Mid-Cap ETF,
iShares Core S&P Small-Cap ETF, iShares Core S&P
Total U.S. Stock Market ETF,
iShares Core S&P U.S. Growth ETF, iShares Core S&P
U.S. Value ETF,
iShares Currency Hedged JPX-Nikkei 400 ETF, iShares
Emerging Markets Infrastructure ETF,
iShares Europe ETF, iShares Expanded Tech Sector ETF,
iShares Expanded Tech-Software Sector ETF,
iShares Focused Value Factor ETF, iShares Global 100
ETF, iShares Global Clean Energy ETF,
iShares Global Comm Services ETF, iShares Global
Consumer Discretionary ETF,
iShares Global Consumer Staples ETF, iShares Global
Energy ETF, iShares Global Financials ETF,
iShares Global Healthcare ETF, iShares Global
Industrials ETF, iShares Global Infrastructure ETF,
iShares Global Materials ETF, iShares Global Tech ETF,
iShares Global Timber & Forestry ETF,
iShares Global Utilities ETF, iShares iBonds Sep 2019
Term Muni Bond ETF,
iShares iBonds Sep 2020 Term Muni Bond ETF, iShares
India 50 ETF
iShares International Developed Property ETF, iShares
International Dividend Growth ETF,
iShares International Preferred Stock ETF, iShares JPX-
Nikkei 400 ETF, iShares Latin America 40 ETF,
iShares Micro-Cap ETF, iShares Mortgage Real Estate
ETF, iShares Nasdaq Biotechnology ETF,
iShares North American Natural Resources ETF,
iShares North American Tech-Multimedia Networking
ETF, iShares PHLX Semiconductor ETF,
iShares Preferred and Income Securities ETF, iShares
Residential Real Estate ETF,
iShares Russell 1000 ETF, iShares Russell 1000 Growth
ETF,
iShares Russell 1000 Pure U.S. Revenue ETF, iShares
Russell 1000 Value ETF,
iShares Russell 2000 ETF, iShares Russell 2000 Growth
ETF, iShares Russell 2000 Value ETF,
iShares Russell 2500 ETF, iShares Russell 3000 ETF,
iShares Russell Mid-Cap ETF,
iShares Russell Mid-Cap Growth ETF, iShares Russell
Mid-Cap Value ETF, iShares Russell Top 200 ETF,
iShares Russell Top 200 Growth ETF, iShares Russell
Top 200 Value ETF,
iShares S&P 100 ETF, iShares S&P 500 Growth ETF,
iShares S&P 500 Value ETF,
iShares S&P Mid-Cap 400 Growth ETF, iShares S&P
Mid-Cap 400 Value ETF,
iShares S&P Small-Cap 600 Growth ETF, iShares S&P
Small-Cap 600 Value ETF,
iShares U.S. Aerospace & Defense ETF, iShares U.S.
Broker-Dealers & Securities Exchanges ETF,
iShares U.S. Healthcare Providers ETF, iShares U.S.
Home Construction ETF,
iShares U.S. Infrastructure ETF, iShares U.S. Insurance
ETF, iShares U.S. Medical Devices ETF,
iShares U.S. Oil & Gas Exploration & Production ETF,
iShares U.S. Oil Equipment & Services ETF,
iShares U.S. Pharmaceuticals ETF, iShares U.S. Real
Estate ETF,
iShares U.S. Regional Banks ETF and iShares U.S.
Telecommunications ETF


In planning and performing our audits of the financial
statements of the funds listed in Appendix A, (hereafter
referred to as the "Funds") as of and for the periods
ended March 31, 2019, in accordance with the standards
of the Public Company Accounting Oversight Board
(United States) ("PCAOB"), we considered the Funds'
internal control over financial reporting, including
controls over safeguarding securities, as a basis for
designing our auditing procedures for the purpose of
expressing our opinion on the financial statements and
to comply with the requirements of Form N-CEN, but
not for the purpose of expressing an opinion on the
effectiveness of the Funds' internal control over financial
reporting.  Accordingly, we do not express an opinion on
the effectiveness of the Funds' internal control over
financial reporting.

The management of the Funds is responsible for
establishing and maintaining effective internal control
over financial reporting.  In fulfilling this responsibility,
estimates and judgments by management are required to
assess the expected benefits and related costs of controls.
A company's internal control over financial reporting is a
process designed to provide reasonable assurance
regarding the reliability of financial reporting and the
preparation of financial statements for external purposes
in accordance with generally accepted accounting
principles.  A company's internal control over financial
reporting includes those policies and procedures that (1)
pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and
dispositions of the assets of the company; (2) provide
reasonable assurance that transactions are recorded as
necessary to permit preparation of financial statements
in accordance with generally accepted accounting
principles, and that receipts and expenditures of the
company are being made only in accordance with
authorizations of management and directors of the
company; and (3) provide reasonable assurance
regarding prevention or timely detection of unauthorized
acquisition, use or disposition of a company's assets that
could have a material effect on the financial statements.

Because of its inherent limitations, internal control over
financial reporting may not prevent or detect
misstatements.  Also, projections of any evaluation of
effectiveness to future periods are subject to the risk that
controls may become inadequate because of changes in
conditions, or that the degree of compliance with the
policies or procedures may deteriorate.

A deficiency in internal control over financial reporting
exists when the design or operation of a control does not
allow management or employees, in the normal course of
performing their assigned functions, to prevent or detect
misstatements on a timely basis.  A material weakness is
a deficiency, or a combination of deficiencies, in internal
control over financial reporting, such that there is a
reasonable possibility that a material misstatement of
the company's annual or interim financial statements
will not be prevented or detected on a timely basis.

Our consideration of the Funds' internal control over
financial reporting was for the limited purpose described
in the first paragraph and would not necessarily disclose
all deficiencies in internal control over financial
reporting that might be material weaknesses under
standards established by the PCAOB.  However, we
noted no deficiencies in the Funds' internal control over
financial reporting and its operation, including controls
over safeguarding securities, that we consider to be
material weaknesses as defined above as of March 31,
2019.

This report is intended solely for the information and use
of the Board of Trustees of iShares Trust and the
Securities and Exchange Commission and is not
intended to be and should not be used by anyone other
than these specified parties.




/s/PricewaterhouseCoopers LLP
San Francisco, California
May 22, 2019






Appendix A

iShares Trust
iShares Asia 50 ETF
iShares Core S&P 500 ETF
iShares Core S&P Mid-Cap ETF
iShares Core S&P Small-Cap ETF
iShares Core S&P Total U.S. Stock Market ETF
iShares Core S&P U.S. Growth ETF
iShares Core S&P U.S. Value ETF
iShares Currency Hedged JPX-Nikkei 400 ETF
iShares Emerging Markets Infrastructure ETF
iShares Europe ETF
iShares Expanded Tech Sector ETF
iShares Expanded Tech-Software Sector ETF
iShares Focused Value Factor ETF*
iShares Global 100 ETF
iShares Global Clean Energy ETF
iShares Global Comm Services ETF
iShares Global Consumer Discretionary ETF
iShares Global Consumer Staples ETF
iShares Global Energy ETF
iShares Global Financials ETF
iShares Global Healthcare ETF
iShares Global Industrials ETF
iShares Global Infrastructure ETF
iShares Global Materials ETF
iShares Global Tech ETF
iShares Global Timber & Forestry ETF
iShares Global Utilities ETF
iShares iBonds Sep 2019 Term Muni Bond ETF
iShares iBonds Sep 2020 Term Muni Bond ETF
iShares India 50 ETF
iShares International Developed Property ETF
iShares International Dividend Growth ETF
iShares International Preferred Stock ETF
iShares JPX-Nikkei 400 ETF
iShares Latin America 40 ETF
iShares Micro-Cap ETF
iShares Mortgage Real Estate ETF
iShares Nasdaq Biotechnology ETF
iShares North American Natural Resources ETF
iShares North American Tech-Multimedia Networking
ETF
iShares PHLX Semiconductor ETF
iShares Preferred and Income Securities ETF
iShares Residential Real Estate ETF
iShares Russell 1000 ETF
iShares Russell 1000 Growth ETF
iShares Russell 1000 Pure U.S. Revenue ETF
iShares Russell 1000 Value ETF
iShares Russell 2000 ETF
iShares Russell 2000 Growth ETF
iShares Russell 2000 Value ETF
iShares Russell 2500 ETF
iShares Russell 3000 ETF
iShares Russell Mid-Cap ETF
iShares Russell Mid-Cap Growth ETF
iShares Russell Mid-Cap Value ETF
iShares Russell Top 200 ETF
iShares Russell Top 200 Growth ETF
iShares Russell Top 200 Value ETF
iShares S&P 100 ETF
iShares S&P 500 Growth ETF
iShares S&P 500 Value ETF
iShares S&P Mid-Cap 400 Growth ETF
iShares S&P Mid-Cap 400 Value ETF
iShares S&P Small-Cap 600 Growth ETF
iShares S&P Small-Cap 600 Value ETF
iShares U.S. Aerospace & Defense ETF
iShares U.S. Broker-Dealers & Securities Exchanges ETF
iShares U.S. Healthcare Providers ETF
iShares U.S. Home Construction ETF
iShares U.S. Infrastructure ETF**
iShares U.S. Insurance ETF
iShares U.S. Medical Devices ETF
iShares U.S. Oil & Gas Exploration & Production ETF
iShares U.S. Oil Equipment & Services ETF
iShares U.S. Pharmaceuticals ETF
iShares U.S. Real Estate ETF
iShares U.S. Regional Banks ETF
iShares U.S. Telecommunications ETF

* March 19, 2019 (commencement of operations)
through March 31, 2019
** April 3, 2018 (commencement of operations) through
March 31, 2019