Schedule

of

Investments

(unaudited)

April

30,

2023

iShares

®

ESG

Aware

Aggressive

Allocation

ETF

1

(Percentages

shown

are

based

on

Net

Assets)

Affiliates

Investments

in

issuers

considered

to

be

affiliate(s)

of

the

Fund

during

the period

ended

April

30,

2023

for

purposes

of

Section

2(a)(3)

of

the

Investment

Company

Act

of

1940,

as

amended,

were

as

follows:

Security

Shares

Value

Investment

Companies

Domestic

Equity

—

51.6%

(a)

iShares

ESG

Aware

MSCI

USA

ETF

.......

113,683

$

10,405,405

iShares

ESG

Aware

MSCI

USA

Small-Cap

ETF

32,761

1,097,493

11,502,898

Domestic

Fixed

Income

—

20.0%

iShares

ESG

Aware

U.S.

Aggregate

Bond

ETF

(a)

..........................

92,667

4,466,549

International

Equity

—

28.2%

(a)

iShares

ESG

Aware

MSCI

EAFE

ETF

......

60,146

4,438,173

iShares

ESG

Aware

MSCI

EM

ETF

........

59,269

1,843,859

6,282,032

Total

Long-Term

Investments

—

99.8%

(Cost:

$23,500,464)

...............................

22,251,479

Security

Shares

Value

Short-Term

Securities

Money

Market

Funds

—

0.2%

BlackRock

Cash

Funds:

Treasury,

SL

Agency

Shares,

4.75%

(a)(b)

..................

33,718

$

33,718

Total

Short-Term

Securities

—

0.2%

(Cost:

$33,718)

..................................

33,718

Total

Investments

—

100.0%

(Cost:

$23,534,182)

...............................

22,285,197

Liabilities

in

Excess

of

Other

Assets

—

(0.0)

%

.............

(7,905)

Net

Assets

—

100.0%

...............................

$

22,277,292

(a)

Affiliate

of

the

Fund.

(b)

Annualized

7-day

yield

as

of

period

end.

Affiliated

Issuer

Value

at

07/31/22

Purchases

at

Cost

Proceeds

from

Sale

Net

Realized

Gain

(Loss)

Change

in

Unrealized

Appreciation

(Depreciation)

Value

at

04/30/23

Shares

Held

at

04/30/23

Income

Capital

Gain

Distributions

from

Underlying

Funds

BlackRock

Cash

Funds:

Treasury,

SL

Agency

Shares

........

$

20,000

$

13,718

(a)

$

—

$

—

$

—

$

33,718

33,718

$

911

$

—

iShares

ESG

Aware

MSCI

EAFE

ETF

..................

3,785,623

366,236

(169,003)

(20,475)

475,792

4,438,173

60,146

17,781

—

iShares

ESG

Aware

MSCI

EM

ETF

..................

1,687,296

223,927

(22,154)

(10,648)

(34,562)

1,843,859

59,269

29,042

—

iShares

ESG

Aware

MSCI

USA

ETF

..................

9,687,455

910,705

(189,622)

(29,378)

26,245

10,405,405

113,683

132,768

—

iShares

ESG

Aware

MSCI

USA

Small-Cap

ETF

..........

1,139,735

95,866

(92,279)

(18,602)

(27,227)

1,097,493

32,761

13,455

—

iShares

ESG

Aware

U.S.

Aggregate

Bond

ETF

......

4,312,148

559,284

(226,598)

(44,619)

(133,666)

4,466,549

92,667

79,394

—

$

(123,722)

$

306,582

$

22,285,197

$

273,351

$

—

—

—

(a)

Represents

net

amount

purchased

(sold).

Schedule

of

Investments

(unaudited)

(continued)

April

30,

2023

iShares

®

ESG

Aware

Aggressive

Allocation

ETF

2

Fair

Value

Hierarchy

as

of

Period

End

Various

inputs

are

used

in

determining

the

fair

value

of

financial

instruments.

These

inputs

to

valuation

techniques

are

categorized

into

a

fair

value

hierarchy

consisting

of

three

broad

levels

for

financial

reporting

purposes

as

follows:

Level

1

—

Unadjusted

price

quotations

in

active

markets/exchanges

for

identical

assets

or

liabilities

that

the

Fund

has

the

ability

to

access;

Level

2

—

Other

observable

inputs

(including,

but

not

limited

to,

quoted

prices

for

similar

assets

or

liabilities

in

markets

that

are

active,

quoted

prices

for

identical

or

similar

assets

or

liabilities

in

markets

that

are

not

active,

inputs

other

than

quoted

prices

that

are

observable

for

the

assets

or

liabilities

(such

as

interest

rates,

yield

curves,

volatilities,

prepayment

speeds,

loss

severities,

credit

risks

and

default

rates)

or

other

market-corroborated

inputs);

and

Level

3

—

Unobservable

inputs

based

on

the

best

information

available

in

the

circumstances,

to

the

extent

observable

inputs

are

not

available

(including

the

Valuation

Committee's

assumptions

used

in

determining

the

fair

value

of

financial

instruments).

The

hierarchy

gives

the

highest

priority

to

unadjusted

quoted

prices

in

active

markets

for

identical

assets

or

liabilities

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements).

Accordingly,

the

degree

of

judgment

exercised

in

determining

fair

value

is

greatest

for

instruments

categorized

in

Level

3.

The

inputs

used

to

measure

fair

value

may

fall

into

different

levels

of

the

fair

value

hierarchy.

In

such

cases,

for

disclosure

purposes,

the

fair

value

hierarchy

classification

is

determined

based

on

the

lowest

level

input

that

is

significant

to

the

fair

value

measurement

in

its

entirety.

Investments

classified

within

Level

3

have

significant

unobservable

inputs

used

by

the

Valuation

Committee

in

determining

the

price

for

Fair

Valued

Investments.

Level

3

investments

include

equity

or

debt

issued

by

privately

held

companies

or

funds.

There

may

not

be

a

secondary

market,

and/

or

there

are

a

limited

number

of

investors.

The

categorization

of

a

value

determined

for

financial

instruments

is

based

on

the

pricing

transparency

of

the

financial

instruments

and

is

not

necessarily

an

indication

of

the

risks

associated

with

investing

in

those

securities.

For

information

about

the

Fund’s

policy

regarding

valuation

of

financial

instruments,

refer

to

its

most

recent

financial

statements.

The

following

table

summarizes

the

Fund’s

financial

instruments

categorized

in

the

fair

value

hierarchy.

The

breakdown

of

the

Fund's

financial

instruments

into

major

categories

is

disclosed

in

the

Schedule

of

Investments

above.

Level

1

Level

2

Level

3

Total

Assets

Investments

Long-Term

Investments

Investment

Companies

....................................

$

22,251,479

$

—

$

—

$

22,251,479

Short-Term

Securities

Money

Market

Funds

......................................

33,718

—

—

33,718

$

22,285,197

$

—

$

—

$

22,285,197

Portfolio

Abbreviation

EAFE

Europe,

Australasia

and

Far

East

EM

Emerging

Markets

ESG

Environmental,

Social

And

Governance

ETF

Exchange-Traded

Fund

MSCI

Morgan

Stanley

Capital

International