| Schedule of Investments (unaudited) | iShares® J.P. Morgan USD Emerging Markets Bond ETF |
| January 31, 2024 | (Percentages shown are based on Net Assets) |
| Security | Par (000) | Value | ||||||
| Corporate Bonds & Notes | ||||||||
| Azerbaijan — 0.3% | ||||||||
| Southern Gas Corridor CJSC, 6.88%, 03/24/26(a) | $ | 48,357 | $ | 48,901,016 | ||||
| Bahrain — 0.2% | ||||||||
| Oil and Gas Holding Co. BSCC (The), 7.50%, 10/25/27(a) | 24,621 | 25,713,557 | ||||||
| Chile — 1.1% | ||||||||
| Corp. Nacional del Cobre de Chile | ||||||||
| 3.00%, 09/30/29 (Call 06/30/29)(a) | 18,054 | 15,959,736 | ||||||
| 3.15%, 01/14/30 (Call 10/14/29)(a) | 15,650 | 13,795,475 | ||||||
| 3.63%, 08/01/27 (Call 05/01/27)(a) | 20,704 | 19,544,576 | ||||||
| 3.70%, 01/30/50 (Call 07/30/49)(a) | 42,433 | 29,024,172 | ||||||
| 4.38%, 02/05/49 (Call 08/05/48)(a) | 20,988 | 16,181,748 | ||||||
| 4.50%, 08/01/47 (Call 02/01/47)(a) | 20,004 | 15,693,138 | ||||||
| 5.95%, 01/08/34 (Call 10/08/33)(a) | 20,950 | 20,901,815 | ||||||
| 6.30%, 09/08/53 (Call 03/08/53)(b) | 12,345 | 12,110,322 | ||||||
| 6.30%, 09/08/53(a) | 2,000 | 1,961,980 | ||||||
| 6.44%, 01/26/36 (Call 10/26/35)(b) | 10,400 | 10,764,000 | ||||||
| Empresa de Transporte de Pasajeros Metro SA, 4.70%, 05/07/50 (Call 11/07/49)(a) | 16,012 | 13,032,647 | ||||||
| 168,969,609 | ||||||||
| China — 1.9% | ||||||||
| CNAC HK Finbridge Co. Ltd. | ||||||||
| 3.00%, 09/22/30(a) | 16,943 | 14,785,309 | ||||||
| 4.13%, 07/19/27(a) | 17,251 | 16,629,791 | ||||||
| 5.13%, 03/14/28(a) | 29,545 | 29,313,072 | ||||||
| Minmetals Bounteous Finance BVI Ltd., 3.38%, | ||||||||
| (Call 09/03/24), (5-year CMT + 5.209%)(a)(c)(d) | 17,074 | 16,823,226 | ||||||
| Sinopec Group Overseas Development 2012 Ltd., 4.88%, 05/17/42(a) | 16,913 | 16,441,550 | ||||||
| Sinopec Group Overseas Development 2017 Ltd., 3.63%, 04/12/27(a) | 17,522 | 17,051,534 | ||||||
| Sinopec Group Overseas Development 2018 Ltd. | ||||||||
| 1.45%, 01/08/26(a) | 20,495 | 19,251,363 | ||||||
| 2.15%, 05/13/25 (Call 04/13/25)(a) | 17,376 | 16,764,539 | ||||||
| 2.30%, 01/08/31 (Call 10/08/30)(a) | 20,436 | 17,841,241 | ||||||
| 2.70%, 05/13/30 (Call 02/13/30)(a) | 25,328 | 23,038,349 | ||||||
| 2.95%, 11/12/29 (Call 08/12/29)(a) | 17,503 | 16,201,477 | ||||||
| SPIC MTN Co. Ltd., 1.63%, 07/27/25(a) | 14,642 | 13,906,825 | ||||||
| State Grid Overseas Investment BVI Ltd. | ||||||||
| 1.63%, 08/05/30 (Call 05/05/30)(a) | 19,556 | 16,524,429 | ||||||
| 3.50%, 05/04/27(a) | 39,619 | 38,411,413 | ||||||
| Three Gorges Finance I Cayman Islands Ltd., 3.15%, 06/02/26(a) | 17,006 | 16,418,017 | ||||||
| 289,402,135 | ||||||||
| Hong Kong — 0.2% | ||||||||
| China Life Insurance Overseas Co. Ltd./Hong Kong, 5.35%, 08/15/33, | ||||||||
| (5-year CMT + 1.232%)(a)(d) | 34,000 | 34,539,240 | ||||||
| Indonesia — 1.0% | ||||||||
| Indonesia Asahan Aluminium PT/Mineral Industri Indonesia Persero PT | ||||||||
| 4.75%, 05/15/25 (Call 04/15/25)(a) | 9,059 | 8,920,284 | ||||||
| 5.45%, 05/15/30 (Call 02/15/30)(a) | 11,993 | 11,919,363 | ||||||
| Pelabuhan Indonesia Persero PT, 4.25%, 05/05/25(a) | 9,080 | 8,926,775 | ||||||
| Pertamina Persero PT | ||||||||
| 1.40%, 02/09/26 (Call 01/09/26)(a) | 10,724 | 9,912,998 | ||||||
| 4.18%, 01/21/50 (Call 07/21/49)(a) | 10,713 | 8,410,883 | ||||||
| Security | Par (000) | Value | ||||||
| Indonesia (continued) | ||||||||
| 5.63%, 05/20/43(a) | $ | 15,335 | $ | 14,857,468 | ||||
| 6.00%, 05/03/42(a) | 13,265 | 13,399,109 | ||||||
| 6.45%, 05/30/44(a) | 15,891 | 16,766,753 | ||||||
| Perusahaan Listrik Negara PT, 4.13%, 05/15/27(a) | 16,083 | 15,542,290 | ||||||
| Perusahaan Perseroan Persero PT Perusahaan | ||||||||
| Listrik Negara | ||||||||
| 4.00%, 06/30/50 (Call 12/30/49)(a) | 11,011 | 8,135,587 | ||||||
| 5.25%, 10/24/42(a) | 10,625 | 9,776,169 | ||||||
| 5.45%, 05/21/28(a) | 10,256 | 10,300,716 | ||||||
| 6.15%, 05/21/48(a) | 10,542 | 10,516,805 | ||||||
| 147,385,200 | ||||||||
| Malaysia — 1.6% | ||||||||
| Petronas Capital Ltd. | ||||||||
| 2.48%, 01/28/32 (Call 10/28/31)(a) | 30,799 | 25,960,169 | ||||||
| 3.40%, 04/28/61 (Call 10/28/60)(a) | 42,037 | 28,918,093 | ||||||
| 3.50%, 03/18/25(a) | 32,123 | 31,516,678 | ||||||
| 3.50%, 04/21/30 (Call 01/21/30)(a) | 54,256 | 50,497,144 | ||||||
| 4.50%, 03/18/45(a) | 36,786 | 32,740,644 | ||||||
| 4.55%, 04/21/50 (Call 10/21/49)(a) | 65,861 | 58,628,804 | ||||||
| 4.80%, 04/21/60 (Call 10/21/59)(a) | 24,139 | 21,944,041 | ||||||
| 250,205,573 | ||||||||
| Mexico — 2.4% | ||||||||
| Banco Nacional de Comercio Exterior | ||||||||
| SNC/Cayman Islands, 4.38%, 10/14/25(a) | 7,933 | 7,775,689 | ||||||
| Comision Federal de Electricidad, 4.69%, 05/15/29 | ||||||||
| (Call 03/15/29)(a) | 10,018 | 9,410,659 | ||||||
| Mexico City Airport Trust, 5.50%, 07/31/47 | ||||||||
| (Call 01/31/47)(a) | 14,482 | 11,879,585 | ||||||
| Petroleos Mexicanos | ||||||||
| 4.50%, 01/23/26 | 9,235 | 8,667,971 | ||||||
| 5.35%, 02/12/28 | 16,523 | 14,435,649 | ||||||
| 5.95%, 01/28/31 (Call 10/28/30) | 31,125 | 24,339,750 | ||||||
| 6.35%, 02/12/48 | 13,269 | 8,213,511 | ||||||
| 6.38%, 01/23/45 | 10,614 | 6,686,820 | ||||||
| 6.49%, 01/23/27 (Call 11/23/26) | 13,024 | 12,248,421 | ||||||
| 6.50%, 03/13/27 | 33,232 | 31,105,152 | ||||||
| 6.50%, 01/23/29 | 10,226 | 9,030,683 | ||||||
| 6.50%, 06/02/41 | 13,279 | 8,839,697 | ||||||
| 6.63%, 06/15/35 | 22,885 | 17,160,317 | ||||||
| 6.70%, 02/16/32 (Call 11/16/31) | 54,117 | 43,913,240 | ||||||
| 6.75%, 09/21/47 | 44,006 | 28,150,638 | ||||||
| 6.84%, 01/23/30 (Call 10/23/29) | 19,077 | 16,293,666 | ||||||
| 6.88%, 08/04/26 | 20,362 | 19,779,647 | ||||||
| 6.95%, 01/28/60 (Call 07/28/59) | 31,643 | 20,204,055 | ||||||
| 7.69%, 01/23/50 (Call 07/23/49) | 64,399 | 44,853,903 | ||||||
| 8.75%, 06/02/29 (Call 04/02/29) | 15,227 | 14,653,888 | ||||||
| 10.00%, 02/07/33 (Call 11/07/32) | 16,820 | 16,546,675 | ||||||
| 374,189,616 | ||||||||
| Netherlands — 0.1% | ||||||||
| MDGH GMTN RSC Ltd., 3.70%, 11/07/49 | ||||||||
| (Call 05/07/49)(a) | 16,129 | 12,278,201 | ||||||
| Oman — 0.2% | ||||||||
| EDO Sukuk Ltd., 5.88%, 09/21/33(a) | 23,850 | 24,231,600 | ||||||
| Panama — 0.2% | ||||||||
| Aeropuerto Internacional de Tocumen SA, 5.13%, 08/11/61 (Call 08/11/60)(a) | 26,233 | 19,262,105 | ||||||
| Banco Nacional de Panama, 2.50%, 08/11/30 | ||||||||
| (Call 05/11/30)(a) | 20,200 | 15,296,450 | ||||||
| 34,558,555 | ||||||||
1
| Schedule of Investments (unaudited) (continued) | iShares® J.P. Morgan USD Emerging Markets Bond ETF |
| January 31, 2024 | (Percentages shown are based on Net Assets) |
| Security | Par (000) | Value | ||||||
| Peru — 0.3% | ||||||||
| Petroleos del Peru SA | ||||||||
| 4.75%, 06/19/32(a) | $ | 23,613 | $ | 17,064,643 | ||||
| 5.63%, 06/19/47(a) | 47,826 | 30,536,423 | ||||||
| 47,601,066 | ||||||||
| Qatar — 0.9% | ||||||||
| Qatar Energy | ||||||||
| 1.38%, 09/12/26 (Call 08/12/26)(a) | 19,618 | 17,925,948 | ||||||
| 2.25%, 07/12/31 (Call 04/12/31)(a) | 46,907 | 39,343,246 | ||||||
| 3.13%, 07/12/41 (Call 01/12/41)(a) | 47,381 | 35,198,160 | ||||||
| 3.30%, 07/12/51 (Call 01/12/51)(a) | 53,567 | 37,383,070 | ||||||
| 129,850,424 | ||||||||
| Saudi Arabia — 0.7% | ||||||||
| Gaci First Investment Co. | ||||||||
| 4.75%, 02/14/30 (Call 01/14/30)(a) | 15,159 | 14,874,769 | ||||||
| 4.88%, 02/14/35 (Call 11/14/34)(a) | 17,555 | 16,633,362 | ||||||
| 5.00%, 10/13/27 (Call 09/13/27)(a) | 10,904 | 10,876,740 | ||||||
| 5.00%, 01/29/29(a) | 3,000 | 2,978,340 | ||||||
| 5.13%, 02/14/53 (Call 08/14/52)(a) | 15,512 | 13,189,078 | ||||||
| 5.25%, 10/13/32 (Call 07/13/32)(a) | 10,787 | 10,854,419 | ||||||
| 5.25%, 01/29/34(a) | 3,000 | 2,965,875 | ||||||
| 5.38%, 01/29/54 (Call 07/29/53)(a) | 3,000 | 2,625,000 | ||||||
| Suci Second Investment Co. | ||||||||
| 6.00%, 10/25/28(a) | 19,700 | 20,438,750 | ||||||
| 6.25%, 10/25/33(a) | 11,000 | 11,907,500 | ||||||
| 107,343,833 | ||||||||
| South Africa — 0.3% | ||||||||
| Eskom Holdings SOC Ltd., 6.35%, 08/10/28(a) | 24,378 | 23,677,133 | ||||||
| Transnet SOC Ltd., 8.25%, 02/06/28(a) | 24,650 | 24,775,715 | ||||||
| 48,452,848 | ||||||||
| Supranational — 0.1% | ||||||||
| Sinopec Group Overseas Development 2015 Ltd., 3.25%, 04/28/25(a) | 20,474 | 20,062,473 | ||||||
| United Arab Emirates — 1.3% | ||||||||
| Abu Dhabi Crude Oil Pipeline LLC, 4.60%, 11/02/47(a) | 24,153 | 21,450,883 | ||||||
| DP World Crescent Ltd. | ||||||||
| 3.88%, 07/18/29(a) | 11,008 | 10,319,450 | ||||||
| 4.85%, 09/26/28(a) | 10,908 | 10,732,927 | ||||||
| 5.50%, 09/13/33(a) | 16,200 | 16,281,000 | ||||||
| DP World Ltd./United Arab Emirates | ||||||||
| 5.63%, 09/25/48(a) | 14,001 | 12,990,128 | ||||||
| 6.85%, 07/02/37(a) | 18,750 | 20,156,250 | ||||||
| DP World Salaam, 6.00%, (Call 10/01/25), | ||||||||
| (5-year CMT + 5.750%)(a)(c)(d) | 16,523 | 16,382,554 | ||||||
| MDGH GMTN RSC Ltd. | ||||||||
| 2.50%, 05/21/26 (Call 04/21/26)(a) | 11,019 | 10,406,068 | ||||||
| 2.88%, 11/07/29 (Call 08/07/29)(a) | 10,940 | 9,863,777 | ||||||
| 2.88%, 05/21/30 (Call 02/21/30)(a) | 10,497 | 9,355,451 | ||||||
| 3.38%, 03/28/32 (Call 12/28/31)(a) | 11,010 | 9,909,000 | ||||||
| 3.40%, 06/07/51 (Call 12/07/50)(a) | 9,759 | 6,953,288 | ||||||
| 3.95%, 05/21/50 (Call 11/21/49)(a) | 22,022 | 17,479,962 | ||||||
| 4.38%, 11/22/33 (Call 08/22/33)(a) | 10,884 | 10,367,010 | ||||||
| 5.50%, 04/28/33 (Call 01/28/33)(a) | 10,929 | 11,297,854 | ||||||
| 193,945,602 | ||||||||
| Venezuela — 0.1% | ||||||||
| Petroleos de Venezuela SA | ||||||||
| 0.00%, 05/16/24(a)(e)(f) | 32,388 | 3,481,644 | ||||||
| 5.38%, 04/12/27(a)(e)(f) | 24,185 | 2,442,685 | ||||||
| 5.50%, 04/12/37(a)(e)(f) | 22,444 | 2,435,196 | ||||||
| Security | Par (000) | Value | ||||||
| Venezuela (continued) | ||||||||
| 6.00%, 11/15/26(a)(e)(f) | $ | 30,450 | $ | 3,273,414 | ||||
| 9.00%, 11/17/21(a)(e)(f) | 28,268 | 3,321,496 | ||||||
| 9.75%, 05/17/35(a)(e)(f) | 31,912 | 3,909,143 | ||||||
| 12.75%, 02/17/22(a)(e)(f) | 14,002 | 1,729,284 | ||||||
| 20,592,862 | ||||||||
| Total Corporate Bonds & Notes — 12.9% | ||||||||
| (Cost: $2,340,069,713) | 1,978,223,410 | |||||||
| Foreign Government Obligations(g) | ||||||||
| Angola — 1.1% | ||||||||
| Angolan Government International Bond | ||||||||
| 8.00%, 11/26/29(a) | 41,961 | 36,401,168 | ||||||
| 8.25%, 05/09/28(a) | 41,784 | 37,605,600 | ||||||
| 8.75%, 04/14/32(a) | 41,599 | 35,567,145 | ||||||
| 9.13%, 11/26/49(a) | 29,951 | 23,623,851 | ||||||
| 9.38%, 05/08/48(a) | 42,150 | 33,720,000 | ||||||
| 166,917,764 | ||||||||
| Argentina — 1.7% | ||||||||
| Argentine Republic Government International Bond | ||||||||
| 1.00%, 07/09/29 (Call 01/29/24) | 30,906 | 12,424,304 | ||||||
| 1.75%, 07/09/30 (Call 01/29/24)(h) | 186,366 | 75,385,020 | ||||||
| 4.88%, 07/09/41 (Call 01/29/24)(h) | 121,620 | 40,377,932 | ||||||
| 5.00%, 07/09/35 (Call 01/29/24)(h) | 238,157 | 79,663,343 | ||||||
| 5.00%, 01/09/38 (Call 01/29/24)(h) | 132,799 | 50,994,840 | ||||||
| 5.00%, 07/09/46 (Call 01/29/24)(h) | 24,518 | 8,311,500 | ||||||
| 267,156,939 | ||||||||
| Azerbaijan — 0.1% | ||||||||
| Republic of Azerbaijan International Bond, 3.50%, 09/01/32(a) | 25,884 | 22,117,878 | ||||||
| Bahrain — 2.4% | ||||||||
| Bahrain Government International Bond | ||||||||
| 5.25%, 01/25/33(a) | 23,809 | 20,922,159 | ||||||
| 5.45%, 09/16/32(a) | 24,042 | 21,667,853 | ||||||
| 5.63%, 09/30/31(a) | 23,813 | 22,146,090 | ||||||
| 5.63%, 05/18/34(a) | 24,395 | 21,620,069 | ||||||
| 6.00%, 09/19/44(a) | 30,198 | 24,082,905 | ||||||
| 6.75%, 09/20/29(a) | 29,818 | 29,929,817 | ||||||
| 7.00%, 01/26/26(a) | 27,737 | 28,038,640 | ||||||
| 7.00%, 10/12/28(a) | 38,435 | 39,347,831 | ||||||
| 7.38%, 05/14/30(a) | 23,988 | 24,737,625 | ||||||
| 7.75%, 04/18/35(a) | 23,977 | 24,696,310 | ||||||
| CBB International Sukuk Co. 7 SPC, 6.88%, 10/05/25(a) | 23,743 | 24,069,466 | ||||||
| CBB International Sukuk Programme Co. | ||||||||
| 3.88%, 05/18/29(a) | 23,598 | 21,356,190 | ||||||
| 3.95%, 09/16/27(a) | 24,246 | 22,882,162 | ||||||
| 4.50%, 03/30/27(a) | 24,321 | 23,439,364 | ||||||
| 6.25%, 10/18/30(a) | 24,095 | 24,305,831 | ||||||
| 373,242,312 | ||||||||
| Bolivia — 0.1% | ||||||||
| Bolivian Government International Bond, 4.50%, 03/20/28(a) | 23,698 | 12,441,450 | ||||||
| Brazil — 3.7% | ||||||||
| Brazil Government International Bond, 6.25%, 03/18/31 | 35,200 | 36,150,400 | ||||||
| Brazilian Government International Bond 2.88%, 06/06/25 | 25,077 | 24,211,844 | ||||||
2
| Schedule of Investments (unaudited) (continued) | iShares® J.P. Morgan USD Emerging Markets Bond ETF |
| January 31, 2024 | (Percentages shown are based on Net Assets) |
| Security | Par (000) | Value | ||||||
| Brazil (continued) | ||||||||
| 3.75%, 09/12/31 | $ | 26,212 | $ | 23,001,030 | ||||
| 3.88%, 06/12/30 | 59,393 | 53,780,361 | ||||||
| 4.50%, 05/30/29 (Call 02/28/29) | 35,120 | 33,592,280 | ||||||
| 4.63%, 01/13/28 (Call 10/13/27) | 50,926 | 50,238,499 | ||||||
| 4.75%, 01/14/50 (Call 07/14/49) | 69,561 | 51,266,457 | ||||||
| 5.00%, 01/27/45 | 56,735 | 44,877,385 | ||||||
| 5.63%, 01/07/41 | 39,930 | 35,976,930 | ||||||
| 5.63%, 02/21/47 | 49,542 | 42,135,471 | ||||||
| 6.00%, 04/07/26 | 37,889 | 38,798,336 | ||||||
| 6.00%, 10/20/33 | 39,359 | 38,847,333 | ||||||
| 6.13%, 03/15/34 | 12,700 | 12,575,540 | ||||||
| 7.13%, 01/20/37 | 29,065 | 31,085,017 | ||||||
| 7.13%, 05/13/54 | 16,800 | 16,783,200 | ||||||
| 8.25%, 01/20/34 | 24,523 | 28,029,789 | ||||||
| 561,349,872 | ||||||||
| Chile — 2.4% | ||||||||
| Chile Government International Bond | ||||||||
| 2.45%, 01/31/31 (Call 10/31/30) | 23,959 | 20,748,494 | ||||||
| 2.55%, 01/27/32 (Call 10/27/31) | 24,462 | 20,915,010 | ||||||
| 2.55%, 07/27/33 (Call 04/27/33) | 35,322 | 29,034,684 | ||||||
| 2.75%, 01/31/27 (Call 12/31/26) | 22,822 | 21,566,790 | ||||||
| 3.10%, 05/07/41 (Call 11/07/40) | 42,365 | 31,667,838 | ||||||
| 3.10%, 01/22/61 (Call 07/22/60) | 30,108 | 19,223,958 | ||||||
| 3.24%, 02/06/28 (Call 11/06/27) | 29,505 | 27,941,235 | ||||||
| 3.25%, 09/21/71 (Call 03/21/71) | 15,548 | 9,958,494 | ||||||
| 3.50%, 01/31/34 (Call 10/31/33) | 22,628 | 19,935,268 | ||||||
| 3.50%, 01/25/50 (Call 07/25/49) | 36,273 | 26,733,201 | ||||||
| 3.50%, 04/15/53 (Call 10/15/52) | 24,002 | 17,581,465 | ||||||
| 3.86%, 06/21/47 | 16,129 | 12,846,749 | ||||||
| 4.00%, 01/31/52 (Call 07/31/51) | 16,438 | 13,101,086 | ||||||
| 4.34%, 03/07/42 (Call 09/07/41) | 31,720 | 27,866,020 | ||||||
| 4.85%, 01/22/29 (Call 12/22/28) | 13,050 | 13,134,825 | ||||||
| 4.95%, 01/05/36 (Call 10/05/35) | 25,805 | 25,237,100 | ||||||
| 5.33%, 01/05/54 (Call 07/05/53) | 23,270 | 22,525,351 | ||||||
| 360,017,568 | ||||||||
| China — 1.4% | ||||||||
| China Development Bank, 1.00%, 10/27/25(a) | 15,635 | 14,673,604 | ||||||
| China Government International Bond | ||||||||
| 0.55%, 10/21/25(a) | 36,150 | 33,767,715 | ||||||
| 1.20%, 10/21/30(a) | 33,976 | 28,505,864 | ||||||
| 1.25%, 10/26/26(a) | 25,939 | 23,963,486 | ||||||
| 1.75%, 10/26/31(a) | 16,678 | 14,224,666 | ||||||
| 2.13%, 12/03/29(a) | 33,408 | 30,338,473 | ||||||
| 2.63%, 11/02/27(a) | 16,558 | 15,774,641 | ||||||
| 3.50%, 10/19/28(a) | 17,250 | 16,953,472 | ||||||
| Export-Import Bank of China (The) | ||||||||
| 2.88%, 04/26/26(a) | 17,058 | 16,503,615 | ||||||
| 3.88%, 05/16/26(a) | 25,486 | 25,144,488 | ||||||
| 219,850,024 | ||||||||
| Colombia — 3.3% | ||||||||
| Colombia Government International Bond | ||||||||
| 3.00%, 01/30/30 (Call 10/30/29) | 26,238 | 21,725,064 | ||||||
| 3.13%, 04/15/31 (Call 01/15/31) | 42,716 | 34,087,368 | ||||||
| 3.25%, 04/22/32 (Call 01/22/32) | 33,436 | 26,029,926 | ||||||
| 3.88%, 04/25/27 (Call 01/25/27) | 32,191 | 30,468,782 | ||||||
| 3.88%, 02/15/61 (Call 08/15/60) | 21,866 | 12,758,811 | ||||||
| 4.13%, 02/22/42 (Call 08/22/41) | 16,826 | 11,349,137 | ||||||
| 4.13%, 05/15/51 (Call 11/15/50) | 25,274 | 15,796,250 | ||||||
| 4.50%, 01/28/26 (Call 10/28/25) | 25,058 | 24,549,009 | ||||||
| 4.50%, 03/15/29 (Call 12/15/28) | 33,525 | 30,826,238 | ||||||
| Security | Par (000) | Value | ||||||
| Colombia (continued) | ||||||||
| 5.00%, 06/15/45 (Call 12/15/44) | $ | 74,895 | $ | 54,523,560 | ||||
| 5.20%, 05/15/49 (Call 11/15/48) | 47,328 | 34,809,744 | ||||||
| 5.63%, 02/26/44 (Call 08/26/43) | 41,758 | 33,134,973 | ||||||
| 6.13%, 01/18/41 | 41,920 | 36,365,600 | ||||||
| 7.38%, 09/18/37 | 30,559 | 30,375,646 | ||||||
| 7.50%, 02/02/34 (Call 11/02/33) | 36,983 | 37,741,151 | ||||||
| 8.00%, 04/20/33 (Call 01/20/33) | 27,502 | 29,160,714 | ||||||
| 8.00%, 11/14/35 (Call 08/14/35) | 21,000 | 22,071,000 | ||||||
| 8.75%, 11/14/53 (Call 05/14/53) | 21,225 | 23,082,188 | ||||||
| 508,855,161 | ||||||||
| Costa Rica — 1.0% | ||||||||
| Costa Rica Government International Bond | ||||||||
| 6.13%, 02/19/31(a) | 28,130 | 28,411,300 | ||||||
| 6.55%, 04/03/34 (Call 01/03/34)(a) | 35,767 | 36,589,641 | ||||||
| 7.00%, 04/04/44(a) | 23,842 | 24,151,946 | ||||||
| 7.16%, 03/12/45(a) | 31,088 | 31,942,920 | ||||||
| 7.30%, 11/13/54 (Call 05/13/53)(a) | 36,005 | 37,607,222 | ||||||
| 158,703,029 | ||||||||
| Dominican Republic — 3.3% | ||||||||
| Dominican Republic International Bond | ||||||||
| 4.50%, 01/30/30(a) | 45,215 | 41,213,472 | ||||||
| 4.88%, 09/23/32(a) | 68,657 | 61,276,372 | ||||||
| 5.30%, 01/21/41(a) | 33,621 | 28,275,261 | ||||||
| 5.50%, 02/22/29 (Call 12/22/28)(a) | 40,150 | 38,833,080 | ||||||
| 5.88%, 01/30/60(a) | 72,378 | 61,340,355 | ||||||
| 5.95%, 01/25/27(a) | 38,169 | 38,188,085 | ||||||
| 6.00%, 07/19/28(a) | 29,146 | 29,218,865 | ||||||
| 6.00%, 02/22/33 (Call 11/22/32)(a) | 39,888 | 38,487,931 | ||||||
| 6.40%, 06/05/49(a) | 34,017 | 31,465,725 | ||||||
| 6.50%, 02/15/48(a) | 22,733 | 21,459,952 | ||||||
| 6.85%, 01/27/45(a) | 45,198 | 44,181,045 | ||||||
| 6.88%, 01/29/26(a) | 39,113 | 39,719,252 | ||||||
| 7.45%, 04/30/44(a) | 34,015 | 35,460,638 | ||||||
| 509,120,033 | ||||||||
| Ecuador — 1.0% | ||||||||
| Ecuador Government International Bond | ||||||||
| 0.00%, 07/31/30(a)(i) | 24,940 | 8,242,709 | ||||||
| 6.90%, 07/31/30(a)(h) | 83,730 | 43,951,744 | ||||||
| 6.90%, 07/31/35(a)(h) | 178,399 | 72,340,906 | ||||||
| 6.90%, 07/31/40(a)(h) | 72,013 | 26,356,601 | ||||||
| 150,891,960 | ||||||||
| Egypt — 2.5% | ||||||||
| Egypt Government International Bond | ||||||||
| 5.80%, 09/30/27(a) | 25,932 | 19,351,755 | ||||||
| 5.88%, 06/11/25(a) | 34,414 | 31,402,775 | ||||||
| 5.88%, 02/16/31(a) | 34,808 | 22,668,710 | ||||||
| 6.59%, 02/21/28(a) | 28,419 | 21,101,107 | ||||||
| 7.05%, 01/15/32(a) | 22,766 | 15,224,763 | ||||||
| 7.30%, 09/30/33(a) | 26,338 | 17,383,080 | ||||||
| 7.50%, 01/31/27(a) | 45,610 | 37,308,980 | ||||||
| 7.50%, 02/16/61(a) | 33,709 | 19,382,675 | ||||||
| 7.60%, 03/01/29(a) | 39,852 | 29,291,220 | ||||||
| 7.63%, 05/29/32(a) | 39,411 | 26,700,952 | ||||||
| 7.90%, 02/21/48(a) | 34,266 | 20,345,438 | ||||||
| 8.50%, 01/31/47(a) | 57,252 | 34,923,720 | ||||||
| 8.70%, 03/01/49(a) | 34,102 | 21,143,240 | ||||||
| 8.88%, 05/29/50(a) | 46,542 | 29,205,105 | ||||||
| Egyptian Financial Co. for Sovereign Taskeek (The), 10.88%, 02/28/26(a) | 34,908 | 34,591,646 | ||||||
| 380,025,166 | ||||||||
3
| Schedule of Investments (unaudited) (continued) | iShares® J.P. Morgan USD Emerging Markets Bond ETF |
| January 31, 2024 | (Percentages shown are based on Net Assets) |
| Security | Par (000) | Value | ||||||
| El Salvador — 0.4% | ||||||||
| El Salvador Government International Bond | ||||||||
| 7.12%, 01/20/50 (Call 07/20/49)(a) | $ | 26,355 | $ | 18,777,938 | ||||
| 7.65%, 06/15/35(a) | 24,109 | 18,780,911 | ||||||
| 9.50%, 07/15/52 (Call 01/15/52)(a) | 24,185 | 20,305,726 | ||||||
| 57,864,575 | ||||||||
| Ghana — 0.8% | ||||||||
| Ghana Government International Bond | ||||||||
| 6.38%, 02/11/27(a)(e)(f) | 30,375 | 13,630,781 | ||||||
| 7.63%, 05/16/29(a)(e)(f) | 24,420 | 10,805,850 | ||||||
| 7.75%, 04/07/29(a)(e)(f) | 24,669 | 10,977,705 | ||||||
| 7.88%, 02/11/35(a)(e)(f) | 24,473 | 10,829,303 | ||||||
| 8.13%, 01/18/26(a)(e)(f) | 24,473 | 11,624,475 | ||||||
| 8.13%, 03/26/32(a)(e)(f) | 30,405 | 13,302,187 | ||||||
| 8.63%, 04/07/34(a)(e)(f) | 24,474 | 10,860,338 | ||||||
| 8.63%, 06/16/49(a)(e)(f) | 24,484 | 10,589,330 | ||||||
| 8.95%, 03/26/51(a)(e)(f) | 23,495 | 10,367,169 | ||||||
| 10.75%, 10/14/30(a) | 24,031 | 15,499,995 | ||||||
| 118,487,133 | ||||||||
| Guatemala — 0.4% | ||||||||
| Guatemala Government Bond | ||||||||
| 6.13%, 06/01/50 (Call 12/01/49)(a) | 33,928 | 30,851,579 | ||||||
| 6.60%, 06/13/36 (Call 03/13/36)(a) | 24,189 | 24,515,551 | ||||||
| 55,367,130 | ||||||||
| Hungary — 2.8% | ||||||||
| Hungary Government International Bond | ||||||||
| 2.13%, 09/22/31(a) | 55,064 | 43,775,880 | ||||||
| 3.13%, 09/21/51(a) | 50,079 | 31,925,363 | ||||||
| 5.25%, 06/16/29(a) | 42,028 | 41,607,720 | ||||||
| 5.50%, 06/16/34(a) | 31,521 | 31,205,790 | ||||||
| 5.50%, 03/26/36(b) | 41,700 | 40,912,912 | ||||||
| 6.13%, 05/22/28(a) | 51,261 | 52,721,938 | ||||||
| 6.25%, 09/22/32(a) | 43,833 | 45,739,735 | ||||||
| 6.75%, 09/25/52(a) | 31,331 | 33,563,334 | ||||||
| 7.63%, 03/29/41 | 40,964 | 47,118,841 | ||||||
| Magyar Export-Import Bank Zrt, 6.13%, 12/04/27(Call 11/04/27)(a) | 29,698 | 30,032,103 | ||||||
| MFB Magyar Fejlesztesi Bank Zrt, 6.50%, 06/29/28(a) | 26,459 | 27,087,401 | ||||||
| 425,691,017 | ||||||||
| India — 0.7% | ||||||||
| Export-Import Bank of India | ||||||||
| 2.25%, 01/13/31(a) | 24,352 | 20,173,197 | ||||||
| 3.25%, 01/15/30(a) | 24,102 | 21,813,756 | ||||||
| 3.38%, 08/05/26(a) | 24,136 | 23,171,284 | ||||||
| 3.88%, 02/01/28(a) | 24,018 | 23,041,428 | ||||||
| 5.50%, 01/18/33(a) | 23,885 | 24,340,009 | ||||||
| 112,539,674 | ||||||||
| Indonesia — 4.1% | ||||||||
| Indonesia Government International Bond | ||||||||
| 1.85%, 03/12/31 | 12,502 | 10,268,643 | ||||||
| 2.15%, 07/28/31 (Call 04/28/31) | 13,054 | 10,819,938 | ||||||
| 2.85%, 02/14/30 | 13,104 | 11,729,521 | ||||||
| 3.05%, 03/12/51 | 20,955 | 14,932,533 | ||||||
| 3.50%, 01/11/28 | 13,005 | 12,388,693 | ||||||
| 3.55%, 03/31/32 (Call 12/31/31) | 10,806 | 9,846,968 | ||||||
| 3.70%, 10/30/49 | 10,487 | 8,194,122 | ||||||
| 3.85%, 07/18/27(a) | 10,725 | 10,389,844 | ||||||
| 3.85%, 10/15/30 | 17,910 | 16,904,533 | ||||||
| 4.10%, 04/24/28 | 10,775 | 10,505,625 | ||||||
| 4.20%, 10/15/50 | 17,221 | 14,596,692 | ||||||
| Security | Par (000) | Value | ||||||
| Indonesia (continued) | ||||||||
| 4.35%, 01/08/27(a) | $ | 13,345 | $ | 13,165,677 | ||||
| 4.35%, 01/11/48 | 18,534 | 16,149,786 | ||||||
| 4.45%, 04/15/70 | 10,828 | 9,162,654 | ||||||
| 4.55%, 01/11/28 (Call 12/11/27) | 11,038 | 10,941,418 | ||||||
| 4.63%, 04/15/43(a) | 16,283 | 15,185,689 | ||||||
| 4.65%, 09/20/32 (Call 06/20/32) | 14,970 | 14,709,672 | ||||||
| 4.75%, 01/08/26(a) | 21,920 | 21,899,450 | ||||||
| 4.75%, 02/11/29 | 12,788 | 12,784,004 | ||||||
| 4.75%, 07/18/47(a) | 11,130 | 10,366,037 | ||||||
| 4.85%, 01/11/33 (Call 10/11/32) | 12,277 | 12,278,350 | ||||||
| 5.13%, 01/15/45(a) | 21,045 | 20,679,027 | ||||||
| 5.25%, 01/17/42(a) | 24,240 | 24,151,766 | ||||||
| 5.25%, 01/08/47(a) | 15,964 | 15,846,026 | ||||||
| 5.35%, 02/11/49 | 10,343 | 10,421,710 | ||||||
| 5.95%, 01/08/46(a) | 13,348 | 14,367,253 | ||||||
| 6.63%, 02/17/37(a) | 15,003 | 17,028,180 | ||||||
| 6.75%, 01/15/44(a) | 21,439 | 25,085,988 | ||||||
| 7.75%, 01/17/38(a) | 21,017 | 26,247,291 | ||||||
| 8.50%, 10/12/35(a) | 16,685 | 21,525,485 | ||||||
| Perusahaan Penerbit SBSN Indonesia III | ||||||||
| 1.50%, 06/09/26(a) | 14,105 | 13,038,309 | ||||||
| 2.55%, 06/09/31(a) | 10,898 | 9,332,611 | ||||||
| 2.80%, 06/23/30(a) | 10,179 | 9,085,877 | ||||||
| 4.15%, 03/29/27(a) | 22,042 | 21,583,967 | ||||||
| 4.33%, 05/28/25(a) | 17,615 | 17,510,191 | ||||||
| 4.40%, 06/06/27(a) | 19,342 | 19,118,358 | ||||||
| 4.40%, 03/01/28(a) | 18,393 | 18,174,583 | ||||||
| 4.45%, 02/20/29(a) | 13,654 | 13,450,692 | ||||||
| 4.55%, 03/29/26(a) | 18,391 | 18,276,240 | ||||||
| 4.70%, 06/06/32(a) | 16,133 | 15,892,780 | ||||||
| 5.40%, 11/15/28(a) | 10,850 | 11,118,375 | ||||||
| 5.60%, 11/15/33(a) | 10,700 | 11,196,052 | ||||||
| 620,350,610 | ||||||||
| Iraq — 0.2% | ||||||||
| Iraq International Bond, 5.80%, 01/15/28(Call 03/17/24)(a) | 36,813 | 34,282,281 | ||||||
| Ivory Coast — 0.5% | ||||||||
| Ivory Coast Government International Bond | ||||||||
| 6.13%, 06/15/33(a) | 29,942 | 26,872,945 | ||||||
| 7.63%, 01/30/33(b) | 22,350 | 22,148,850 | ||||||
| 8.25%, 01/30/37(b) | 31,375 | 31,406,375 | ||||||
| 80,428,170 | ||||||||
| Jamaica — 0.8% | ||||||||
| Jamaica Government International Bond | ||||||||
| 6.75%, 04/28/28 | 30,317 | 31,624,421 | ||||||
| 7.88%, 07/28/45 | 42,847 | 49,809,637 | ||||||
| 8.00%, 03/15/39 | 29,997 | 35,651,435 | ||||||
| 117,085,493 | ||||||||
| Jordan — 0.8% | ||||||||
| Jordan Government International Bond | ||||||||
| 5.75%, 01/31/27(a) | 23,978 | 22,898,990 | ||||||
| 5.85%, 07/07/30(a) | 29,509 | 26,395,801 | ||||||
| 6.13%, 01/29/26(a) | 24,137 | 23,443,061 | ||||||
| 7.38%, 10/10/47(a) | 24,064 | 20,454,400 | ||||||
| 7.50%, 01/13/29(a) | 29,936 | 29,299,860 | ||||||
| 122,492,112 | ||||||||
| Kazakhstan — 0.8% | ||||||||
| Kazakhstan Government International Bond 4.88%, 10/14/44(a) | 25,284 | 23,552,046 | ||||||
4
| Schedule of Investments (unaudited) (continued) | iShares® J.P. Morgan USD Emerging Markets Bond ETF |
| January 31, 2024 | (Percentages shown are based on Net Assets) |
| Security | Par (000) | Value | ||||||
| Kazakhstan (continued) | ||||||||
| 5.13%, 07/21/25(a) | $ | 54,842 | $ | 55,563,172 | ||||
| 6.50%, 07/21/45(a) | 37,169 | 40,941,654 | ||||||
| 120,056,872 | ||||||||
| Kenya — 0.5% | ||||||||
| Republic of Kenya Government International Bond | ||||||||
| 6.30%, 01/23/34(a) | 24,120 | 18,723,150 | ||||||
| 7.25%, 02/28/28(a) | 23,862 | 21,296,835 | ||||||
| 8.00%, 05/22/32(a) | 28,764 | 25,168,500 | ||||||
| 8.25%, 02/28/48(a) | 24,240 | 19,301,100 | ||||||
| 84,489,585 | ||||||||
| Kuwait — 0.7% | ||||||||
| Kuwait International Government Bond, 3.50%, 03/20/27(a) | 107,764 | 105,069,900 | ||||||
| Lebanon — 0.1% | ||||||||
| Lebanon Government International Bond | ||||||||
| 6.00%, 01/27/23(a)(e)(f) | 25,532 | 1,455,324 | ||||||
| 6.10%, 10/04/22(a) | 9,000 | 513,000 | ||||||
| 6.10%, 10/04/24(a)(e)(f) | 21,875 | 1,246,875 | ||||||
| 6.60%, 11/27/26(a)(e)(f) | 39,209 | 2,234,913 | ||||||
| 6.65%, 02/26/30(a)(e)(f) | 34,767 | 1,981,719 | ||||||
| 6.75%, 11/29/27(a)(e)(f) | 24,978 | 1,423,746 | ||||||
| 6.85%, 03/23/27(a)(e)(f) | 30,809 | 1,756,113 | ||||||
| 7.00%, 03/23/32(a)(e)(f) | 25,086 | 1,429,902 | ||||||
| 12,041,592 | ||||||||
| Malaysia — 0.3% | ||||||||
| Malaysia Sovereign Sukuk Bhd, 3.04%, 04/22/25(a) | 21,647 | 21,245,448 | ||||||
| Malaysia Sukuk Global Bhd, 3.18%, 04/27/26(a) | 24,407 | 23,755,821 | ||||||
| 45,001,269 | ||||||||
| Mexico — 3.5% | ||||||||
| Mexico Government International Bond | ||||||||
| 2.66%, 05/24/31 (Call 02/24/31) | 28,734 | 24,136,560 | ||||||
| 3.25%, 04/16/30 (Call 01/16/30) | 20,120 | 18,055,688 | ||||||
| 3.50%, 02/12/34 (Call 11/12/33) | 24,789 | 20,735,998 | ||||||
| 3.75%, 01/11/28 | 15,515 | 14,878,885 | ||||||
| 3.75%, 04/19/71 (Call 10/19/70) | 25,497 | 16,420,068 | ||||||
| 3.77%, 05/24/61 (Call 11/24/60) | 27,252 | 17,822,808 | ||||||
| 4.13%, 01/21/26 | 17,538 | 17,327,544 | ||||||
| 4.15%, 03/28/27 | 19,290 | 19,106,745 | ||||||
| 4.28%, 08/14/41 (Call 02/14/41) | 20,582 | 16,609,674 | ||||||
| 4.35%, 01/15/47 | 11,995 | 9,434,068 | ||||||
| 4.40%, 02/12/52 (Call 08/12/51) | 19,236 | 14,802,102 | ||||||
| 4.50%, 04/22/29 | 26,819 | 26,228,982 | ||||||
| 4.50%, 01/31/50 (Call 07/31/49) | 15,653 | 12,420,655 | ||||||
| 4.60%, 01/23/46 | 20,706 | 16,802,919 | ||||||
| 4.60%, 02/10/48 | 16,114 | 12,947,599 | ||||||
| 4.75%, 04/27/32 (Call 01/27/32) | 21,886 | 20,933,959 | ||||||
| 4.75%, 03/08/44 | 32,310 | 27,027,315 | ||||||
| 4.88%, 05/19/33 (Call 02/19/33) | 19,005 | 18,159,277 | ||||||
| 5.00%, 05/07/29 (Call 04/07/29) | 5,050 | 5,042,425 | ||||||
| 5.00%, 04/27/51 (Call 10/27/50) | 20,382 | 17,212,599 | ||||||
| 5.40%, 02/09/28 (Call 01/09/28) | 10,049 | 10,234,907 | ||||||
| 5.55%, 01/21/45 | 24,418 | 22,781,994 | ||||||
| 5.75%, 12/31/99 | 22,362 | 19,698,686 | ||||||
| 6.00%, 05/07/36 (Call 02/07/36) | 15,510 | 15,711,630 | ||||||
| 6.05%, 01/11/40 | 25,298 | 25,209,457 | ||||||
| 6.34%, 05/04/53 (Call 11/04/52) | 25,427 | 25,274,438 | ||||||
| 6.35%, 02/09/35 (Call 11/09/34) | 24,589 | 25,575,019 | ||||||
| 6.40%, 05/07/54 (Call 11/07/53) | 13,700 | 13,735,620 | ||||||
| Security | Par (000) | Value | ||||||
| Mexico (continued) | ||||||||
| 6.75%, 09/27/34 | $ | 15,508 | $ | 16,593,560 | ||||
| 8.30%, 08/15/31 | 9,426 | 11,292,348 | ||||||
| 532,213,529 | ||||||||
| Morocco — 0.7% | ||||||||
| Morocco Government International Bond | ||||||||
| 3.00%, 12/15/32(a) | 24,106 | 19,417,383 | ||||||
| 4.00%, 12/15/50(a) | 30,257 | 20,618,633 | ||||||
| 5.95%, 03/08/28(a) | 29,970 | 30,569,400 | ||||||
| 6.50%, 09/08/33(a) | 30,227 | 31,247,161 | ||||||
| 101,852,577 | ||||||||
| Nigeria — 1.9% | ||||||||
| Nigeria Government International Bond | ||||||||
| 6.13%, 09/28/28(a) | 29,783 | 25,873,981 | ||||||
| 6.50%, 11/28/27(a) | 35,934 | 32,538,237 | ||||||
| 7.14%, 02/23/30(a) | 30,166 | 26,319,835 | ||||||
| 7.38%, 09/28/33(a) | 35,954 | 29,572,165 | ||||||
| 7.63%, 11/21/25(a) | 26,873 | 26,402,722 | ||||||
| 7.63%, 11/28/47(a) | 35,917 | 27,252,024 | ||||||
| 7.70%, 02/23/38(a) | 30,188 | 23,794,182 | ||||||
| 7.88%, 02/16/32(a) | 35,992 | 31,223,060 | ||||||
| 8.25%, 09/28/51(a) | 29,901 | 23,771,295 | ||||||
| 8.38%, 03/24/29(a) | 29,922 | 28,014,472 | ||||||
| 8.75%, 01/21/31(a) | 23,982 | 22,213,328 | ||||||
| 296,975,301 | ||||||||
| Oman — 3.4% | ||||||||
| Oman Government International Bond | ||||||||
| 4.75%, 06/15/26(a) | 56,546 | 55,697,810 | ||||||
| 5.38%, 03/08/27(a) | 38,679 | 38,727,349 | ||||||
| 5.63%, 01/17/28(a) | 56,173 | 56,826,011 | ||||||
| 6.00%, 08/01/29(a) | 51,684 | 52,782,285 | ||||||
| 6.25%, 01/25/31(a) | 39,120 | 40,452,036 | ||||||
| 6.50%, 03/08/47(a) | 47,530 | 46,811,109 | ||||||
| 6.75%, 10/28/27(a) | 32,305 | 33,839,488 | ||||||
| 6.75%, 01/17/48(a) | 64,781 | 65,266,857 | ||||||
| 7.00%, 01/25/51(a) | 23,911 | 24,625,939 | ||||||
| 7.38%, 10/28/32(a) | 24,460 | 27,211,750 | ||||||
| Oman Sovereign Sukuk Co. | ||||||||
| 4.88%, 06/15/30(a) | 41,345 | 40,621,462 | ||||||
| 5.93%, 10/31/25(a) | 30,385 | 30,612,888 | ||||||
| 513,474,984 | ||||||||
| Pakistan — 0.6% | ||||||||
| Pakistan Global Sukuk Programme Co. Ltd. (The), 7.95%, 01/31/29(a) | 24,126 | 19,544,714 | ||||||
| Pakistan Government International Bond | ||||||||
| 6.00%, 04/08/26(a) | 31,081 | 23,992,201 | ||||||
| 6.88%, 12/05/27(a) | 35,650 | 25,582,797 | ||||||
| 7.38%, 04/08/31(a) | 33,930 | 21,888,582 | ||||||
| 91,008,294 | ||||||||
| Panama — 2.6% | ||||||||
| Panama Government International Bond | ||||||||
| 2.25%, 09/29/32 (Call 06/29/32) | 49,678 | 35,147,185 | ||||||
| 3.16%, 01/23/30 (Call 10/23/29) | 30,522 | 25,501,131 | ||||||
| 3.30%, 01/19/33 (Call 10/19/32) | 19,523 | 14,983,903 | ||||||
| 3.75%, 03/16/25 (Call 12/16/24) | 21,040 | 20,509,792 | ||||||
| 3.87%, 07/23/60 (Call 01/23/60) | 57,592 | 32,193,928 | ||||||
| 3.88%, 03/17/28 (Call 12/17/27) | 24,923 | 22,754,699 | ||||||
| 4.30%, 04/29/53 | 34,030 | 21,489,945 | ||||||
| 4.50%, 05/15/47 (Call 11/15/46) | 22,732 | 15,321,368 | ||||||
| 4.50%, 04/16/50 (Call 10/16/49) | 49,394 | 32,612,388 | ||||||
| 4.50%, 04/01/56 (Call 10/01/55) | 49,297 | 31,328,243 | ||||||
5
| Schedule of Investments (unaudited) (continued) | iShares® J.P. Morgan USD Emerging Markets Bond ETF |
| January 31, 2024 | (Percentages shown are based on Net Assets) |
| Security | Par (000) | Value | ||||||
| Panama (continued) | ||||||||
| 4.50%, 01/19/63 (Call 07/19/62) | $ | 29,251 | $ | 18,120,995 | ||||
| 6.40%, 02/14/35 (Call 11/14/34) | 45,084 | 42,424,044 | ||||||
| 6.70%, 01/26/36 | 39,938 | 38,282,570 | ||||||
| 6.85%, 03/28/54 (Call 09/28/53) | 27,209 | 24,216,010 | ||||||
| 6.88%, 01/31/36 (Call 10/31/35) | 19,750 | 19,011,350 | ||||||
| 393,897,551 | ||||||||
| Paraguay — 0.5% | ||||||||
| Paraguay Government International Bond | ||||||||
| 4.95%, 04/28/31 (Call 01/28/31)(a) | 23,914 | 23,005,268 | ||||||
| 5.40%, 03/30/50 (Call 09/30/49)(a) | 28,300 | 24,366,300 | ||||||
| 6.10%, 08/11/44(a) | 24,058 | 22,903,216 | ||||||
| 70,274,784 | ||||||||
| Peru — 2.6% | ||||||||
| Peruvian Government International Bond | ||||||||
| 1.86%, 12/01/32 (Call 09/01/32) | 23,552 | 18,146,816 | ||||||
| 2.78%, 01/23/31 (Call 10/23/30) | 82,046 | 70,846,721 | ||||||
| 2.78%, 12/01/60 (Call 06/01/60) | 47,630 | 28,149,330 | ||||||
| 3.00%, 01/15/34 (Call 10/15/33) | 52,981 | 44,127,875 | ||||||
| 3.23%, 12/31/99 (Call 01/28/21) | 24,024 | 14,114,100 | ||||||
| 3.30%, 03/11/41 (Call 09/11/40) | 29,607 | 22,368,089 | ||||||
| 3.55%, 03/10/51 (Call 09/10/50) | 41,798 | 30,470,742 | ||||||
| 3.60%, 01/15/72 (Call 07/15/71) | 23,836 | 16,065,464 | ||||||
| 5.63%, 11/18/50 | 60,097 | 60,487,630 | ||||||
| 6.55%, 03/14/37 | 26,592 | 29,211,312 | ||||||
| 8.75%, 11/21/33 | 50,776 | 63,216,120 | ||||||
| 397,204,199 | ||||||||
| Philippines — 3.5% | ||||||||
| Philippine Government International Bond | ||||||||
| 1.65%, 06/10/31 | 23,041 | 18,522,660 | ||||||
| 2.46%, 05/05/30 | 17,940 | 15,669,469 | ||||||
| 2.65%, 12/10/45 | 28,025 | 18,673,058 | ||||||
| 2.95%, 05/05/45 | 24,779 | 17,502,895 | ||||||
| 3.00%, 02/01/28 | 36,435 | 34,207,364 | ||||||
| 3.20%, 07/06/46 | 41,071 | 29,678,315 | ||||||
| 3.70%, 03/01/41 | 36,906 | 30,497,642 | ||||||
| 3.70%, 02/02/42 | 36,972 | 30,198,730 | ||||||
| 3.75%, 01/14/29 | 27,397 | 26,290,435 | ||||||
| 3.95%, 01/20/40 | 36,876 | 31,993,986 | ||||||
| 4.20%, 03/29/47 | 17,754 | 15,026,275 | ||||||
| 5.00%, 07/17/33 | 23,023 | 23,284,541 | ||||||
| 5.00%, 01/13/37 | 24,081 | 24,023,446 | ||||||
| 5.50%, 03/30/26 | 19,109 | 19,365,777 | ||||||
| 5.50%, 01/17/48 | 22,941 | 23,373,667 | ||||||
| 6.38%, 01/15/32 | 18,777 | 20,596,022 | ||||||
| 6.38%, 10/23/34 | 34,660 | 38,433,088 | ||||||
| 7.75%, 01/14/31 | 31,817 | 37,225,890 | ||||||
| 9.50%, 02/02/30 | 36,523 | 45,379,828 | ||||||
| 10.63%, 03/16/25 | 22,251 | 23,579,107 | ||||||
| ROP Sukuk Trust | ||||||||
| 5.05%, 06/06/29(b) | 17,375 | 17,597,617 | ||||||
| 5.05%, 06/06/29(a) | 650 | 658,328 | ||||||
| 541,778,140 | ||||||||
| Poland — 2.0% | ||||||||
| Bank Gospodarstwa Krajowego | ||||||||
| 5.38%, 05/22/33 (a) | 41,926 | 42,026,622 | ||||||
| 6.25%, 10/31/28(a) | 24,475 | 25,698,750 | ||||||
| Republic of Poland Government International Bond | ||||||||
| 3.25%, 04/06/26 | 42,684 | 41,554,155 | ||||||
| 4.88%, 10/04/33 (Call 07/04/33) | 59,951 | 59,636,257 | ||||||
| 5.50%, 11/16/27 (Call 08/16/27) | 35,895 | 37,042,922 | ||||||
| Security | Par (000) |
Value | ||||||
| Poland (continued) | ||||||||
| 5.50%, 04/04/53 (Call 10/04/52) | $ | 59,743 | $ | 60,391,212 | ||||
| 5.75%, 11/16/32 (Call 08/16/32) | 36,624 | 38,836,822 | ||||||
| 305,186,740 | ||||||||
| Qatar — 3.2% | ||||||||
| Qatar Government International Bond | ||||||||
| 3.25%, 06/02/26(a) | 46,908 | 45,500,760 | ||||||
| 3.40%, 04/16/25(a) | 21,970 | 21,530,600 | ||||||
| 3.75%, 04/16/30(a) | 40,278 | 38,918,618 | ||||||
| 4.00%, 03/14/29(a) | 53,835 | 53,027,475 | ||||||
| 4.40%, 04/16/50(a) | 67,019 | 58,527,693 | ||||||
| 4.50%, 04/23/28(a) | 40,351 | 40,507,360 | ||||||
| 4.63%, 06/02/46(a) | 27,076 | 24,842,230 | ||||||
| 4.82%, 03/14/49(a) | 80,360 | 74,835,250 | ||||||
| 5.10%, 04/23/48(a) | 80,892 | 77,989,999 | ||||||
| 5.75%, 01/20/42(a) | 13,651 | 14,589,506 | ||||||
| 6.40%, 01/20/40(a) | 13,339 | 15,089,744 | ||||||
| 9.75%, 06/15/30(a) | 19,079 | 24,588,061 | ||||||
| 489,947,296 | ||||||||
| Romania — 2.6% | ||||||||
| Romanian Government International Bond | ||||||||
| 3.00%, 02/27/27(a) | 32,394 | 30,215,503 | ||||||
| 3.00%, 02/14/31(a) | 31,660 | 26,831,850 | ||||||
| 3.63%, 03/27/32(a) | 25,974 | 22,402,575 | ||||||
| 4.00%, 02/14/51(a) | 47,902 | 34,429,562 | ||||||
| 5.13%, 06/15/48(a) | 28,488 | 24,464,070 | ||||||
| 5.25%, 11/25/27(a) | 23,886 | 23,602,712 | ||||||
| 5.88%, 01/30/29(b) | 41,028 | 41,401,355 | ||||||
| 6.00%, 05/25/34(a) | 24,292 | 24,219,124 | ||||||
| 6.13%, 01/22/44(a) | 24,322 | 23,842,857 | ||||||
| 6.38%, 01/30/34(b) | 39,438 | 40,230,704 | ||||||
| 6.63%, 02/17/28(a) | 34,500 | 35,750,625 | ||||||
| 7.13%, 01/17/33(a) | 38,306 | 41,278,546 | ||||||
| 7.63%, 01/17/53(a) | 30,104 | 33,565,960 | ||||||
| 402,235,443 | ||||||||
| Saudi Arabia — 5.3% | ||||||||
| KSA Sukuk Ltd. | ||||||||
| 2.25%, 05/17/31(a) | 17,285 | 14,541,006 | ||||||
| 2.97%, 10/29/29(a) | 23,819 | 21,645,516 | ||||||
| 3.63%, 04/20/27(a) | 38,441 | 37,095,565 | ||||||
| 4.27%, 05/22/29(a) | 26,421 | 25,892,580 | ||||||
| 4.30%, 01/19/29(a) | 17,551 | 17,265,796 | ||||||
| 4.51%, 05/22/33(a) | 28,271 | 27,458,209 | ||||||
| 5.27%, 10/25/28(a) | 21,962 | 22,483,598 | ||||||
| Saudi Government International Bond | ||||||||
| 2.25%, 02/02/33(a) | 25,233 | 20,375,648 | ||||||
| 2.50%, 02/03/27(a) | 11,261 | 10,529,035 | ||||||
| 2.75%, 02/03/32(a) | 9,236 | 7,908,325 | ||||||
| 2.90%, 10/22/25(a) | 20,449 | 19,733,285 | ||||||
| 3.25%, 10/26/26(a) | 43,708 | 41,850,410 | ||||||
| 3.25%, 10/22/30(a) | 13,859 | 12,594,366 | ||||||
| 3.25%, 11/17/51(a) | 12,437 | 8,239,513 | ||||||
| 3.45%, 02/02/61(a) | 22,774 | 14,916,970 | ||||||
| 3.63%, 03/04/28(a) | 43,065 | 41,288,569 | ||||||
| 3.75%, 01/21/55(a) | 26,604 | 18,789,075 | ||||||
| 4.00%, 04/17/25(a) | 34,189 | 33,633,429 | ||||||
| 4.38%, 04/16/29(a) | 34,737 | 34,042,260 | ||||||
| 4.50%, 04/17/30(a) | 27,082 | 26,506,507 | ||||||
| 4.50%, 10/26/46(a) | 58,656 | 50,004,240 | ||||||
| 4.50%, 04/22/60(a) | 28,881 | 23,538,015 | ||||||
| 4.63%, 10/04/47(a) | 42,523 | 36,569,780 | ||||||
6
| Schedule of Investments (unaudited) (continued) | iShares® J.P. Morgan USD Emerging Markets Bond ETF |
| January 31, 2024 | (Percentages shown are based on Net Assets) |
| Security | Par (000) | Value | ||||||
| Saudi Arabia (continued) | ||||||||
| 4.75%, 01/18/28(a) | $ | 28,482 | $ | 28,517,602 | ||||
| 4.75%, 01/16/30(b) | 23,800 | 23,673,265 | ||||||
| 4.88%, 07/18/33(a) | 33,056 | 32,890,720 | ||||||
| 5.00%, 01/16/34(b) | 24,250 | 24,128,750 | ||||||
| 5.00%, 04/17/49(a) | 31,280 | 28,312,310 | ||||||
| 5.00%, 01/18/53(a) | 29,587 | 26,295,446 | ||||||
| 5.25%, 01/16/50(a) | 32,291 | 30,125,081 | ||||||
| 5.50%, 10/25/32(a) | 21,396 | 22,227,770 | ||||||
| 5.75%, 01/16/54(b) | 25,900 | 25,361,927 | ||||||
| 808,434,568 | ||||||||
| Senegal — 0.3% | ||||||||
| Senegal Government International Bond | ||||||||
| 6.25%, 05/23/33(a) | 26,346 | 22,723,425 | ||||||
| 6.75%, 03/13/48(a) | 24,424 | 18,195,880 | ||||||
| 40,919,305 | ||||||||
| Serbia — 0.3% | ||||||||
| Serbia International Bond | ||||||||
| 2.13%, 12/01/30(a) | 29,402 | 23,448,095 | ||||||
| 6.50%, 09/26/33(a) | 24,023 | 24,538,894 | ||||||
| 47,986,989 | ||||||||
| South Africa — 2.6% | ||||||||
| Republic of South Africa Government | ||||||||
| International Bond | ||||||||
| 4.30%, 10/12/28 | 47,917 | 43,876,399 | ||||||
| 4.85%, 09/27/27 | 23,967 | 23,023,899 | ||||||
| 4.85%, 09/30/29 | 47,979 | 43,610,512 | ||||||
| 4.88%, 04/14/26 | 29,510 | 28,772,250 | ||||||
| 5.00%, 10/12/46 | 24,201 | 16,759,192 | ||||||
| 5.38%, 07/24/44 | 23,858 | 17,759,299 | ||||||
| 5.65%, 09/27/47 | 36,391 | 27,135,859 | ||||||
| 5.75%, 09/30/49 | 71,607 | 53,064,367 | ||||||
| 5.88%, 09/16/25 | 47,589 | 47,529,514 | ||||||
| 5.88%, 06/22/30 | 33,426 | 31,405,398 | ||||||
| 5.88%, 04/20/32 | 34,014 | 31,204,444 | ||||||
| 7.30%, 04/20/52 | 38,488 | 33,984,904 | ||||||
| 398,126,037 | ||||||||
| Sri Lanka — 0.7% | ||||||||
| Sri Lanka Government International Bond | ||||||||
| 6.20%, 05/11/27(a)(e)(f) | 35,960 | 18,253,656 | ||||||
| 6.75%, 04/18/28(a)(e)(f) | 30,025 | 15,318,755 | ||||||
| 6.83%, 07/18/26(a)(e)(f) | 24,029 | 12,579,182 | ||||||
| 6.85%, 03/14/24(a)(e)(f) | 23,998 | 12,307,614 | ||||||
| 6.85%, 11/03/25(a)(e)(f) | 36,000 | 18,768,960 | ||||||
| 7.55%, 03/28/30(a)(e)(f) | 35,682 | 17,934,130 | ||||||
| 7.85%, 03/14/29(a)(e)(f) | 33,597 | 16,894,587 | ||||||
| 112,056,884 | ||||||||
| Trinidad And Tobago — 0.1% | ||||||||
| Trinidad & Tobago Government International Bond, 4.50%, 08/04/26(a) | 24,000 | 23,400,000 | ||||||
| Turkey — 4.9% | ||||||||
| Hazine Mustesarligi Varlik Kiralama AS | ||||||||
| 5.13%, 06/22/26(a) | 26,980 | 25,883,938 | ||||||
| 7.25%, 02/24/27(a) | 33,215 | 33,298,037 | ||||||
| 8.51%, 01/14/29(a) | 26,950 | 27,926,937 | ||||||
| 9.76%, 11/13/25(a) | 27,005 | 28,390,356 | ||||||
| Turkey Government International Bond | ||||||||
| 4.25%, 03/13/25 | 18,103 | 17,668,528 | ||||||
| 4.25%, 04/14/26 | 16,455 | 15,673,388 | ||||||
| 4.75%, 01/26/26 | 18,154 | 17,545,841 | ||||||
| Security | Par (000) | Value | ||||||
| Turkey (continued) | ||||||||
| 4.88%, 10/09/26 | $ | 31,639 | $ | 30,199,425 | ||||
| 4.88%, 04/16/43 | 32,346 | 21,833,550 | ||||||
| 5.13%, 02/17/28 | 21,635 | 20,120,550 | ||||||
| 5.25%, 03/13/30 | 21,485 | 19,003,483 | ||||||
| 5.75%, 05/11/47 | 37,139 | 27,128,183 | ||||||
| 5.88%, 06/26/31 | 18,655 | 16,756,854 | ||||||
| 5.95%, 01/15/31 | 24,157 | 21,934,556 | ||||||
| 6.00%, 03/25/27 | 33,954 | 32,986,311 | ||||||
| 6.00%, 01/14/41 | 32,053 | 25,458,095 | ||||||
| 6.13%, 10/24/28 | 29,596 | 28,392,923 | ||||||
| 6.38%, 10/14/25 | 26,371 | 26,305,073 | ||||||
| 6.50%, 09/20/33 | 16,553 | 15,096,336 | ||||||
| 6.63%, 02/17/45 | 31,893 | 26,351,591 | ||||||
| 6.75%, 05/30/40 | 21,489 | 18,587,985 | ||||||
| 6.88%, 03/17/36 | 29,497 | 26,768,527 | ||||||
| 7.25%, 03/05/38 | 10,630 | 9,885,900 | ||||||
| 7.63%, 04/26/29 | 32,206 | 32,342,875 | ||||||
| 8.00%, 02/14/34 | 15,685 | 15,811,264 | ||||||
| 8.60%, 09/24/27 | 20,866 | 21,883,218 | ||||||
| 9.13%, 07/13/30 | 26,774 | 28,514,310 | ||||||
| 9.38%, 03/14/29 | 24,452 | 26,285,900 | ||||||
| 9.38%, 01/19/33 | 29,631 | 32,149,635 | ||||||
| 9.88%, 01/15/28 | 36,573 | 39,754,851 | ||||||
| 11.88%, 01/15/30 | 16,029 | 19,491,264 | ||||||
| 749,429,684 | ||||||||
| Ukraine — 0.6% | ||||||||
| Ukraine Government International Bond | ||||||||
| 6.88%, 05/21/31(a)(e)(f) | 42,502 | 9,244,185 | ||||||
| 7.25%, 03/15/35(a)(e)(f) | 62,196 | 14,071,845 | ||||||
| 7.38%, 09/25/34(a)(e)(f) | 72,202 | 16,317,652 | ||||||
| 7.75%, 09/01/25(a)(e)(f) | 32,364 | 8,851,554 | ||||||
| 7.75%, 09/01/26(a)(e)(f) | 31,892 | 8,283,947 | ||||||
| 7.75%, 09/01/27(a)(e)(f) | 32,237 | 8,123,724 | ||||||
| 7.75%, 09/01/28(a)(e)(f) | 31,566 | 7,891,500 | ||||||
| 7.75%, 09/01/29(a)(e)(f) | 31,687 | 7,858,376 | ||||||
| 9.75%, 11/01/30(a)(e)(f) | 38,610 | 10,193,040 | ||||||
| 90,835,823 | ||||||||
| United Arab Emirates — 3.2% | ||||||||
| Abu Dhabi Government International Bond | ||||||||
| 1.63%, 06/02/28(a) | 21,187 | 18,909,397 | ||||||
| 1.70%, 03/02/31(a) | 16,416 | 13,707,360 | ||||||
| 1.88%, 09/15/31(a) | 19,295 | 16,135,444 | ||||||
| 2.50%, 04/16/25(a) | 27,874 | 27,037,780 | ||||||
| 2.50%, 09/30/29(a) | 32,578 | 29,564,535 | ||||||
| 2.70%, 09/02/70(a) | 16,222 | 9,517,447 | ||||||
| 3.00%, 09/15/51(a) | 13,802 | 9,385,360 | ||||||
| 3.13%, 05/03/26(a) | 27,106 | 26,191,172 | ||||||
| 3.13%, 10/11/27(a) | 44,552 | 42,547,160 | ||||||
| 3.13%, 04/16/30(a) | 32,677 | 30,389,610 | ||||||
| 3.13%, 09/30/49(a) | 42,899 | 29,868,429 | ||||||
| 3.88%, 04/16/50(a) | 43,202 | 34,615,602 | ||||||
| 4.13%, 10/11/47(a) | 32,315 | 27,184,994 | ||||||
| Emirate of Dubai Government International Bond, 5.25%, 01/30/43(a) | 10,779 | 10,118,786 | ||||||
| Emirate of Dubai Government International Bonds, 3.90%, 09/09/50(a) | 13,730 | 10,005,737 | ||||||
| Finance Department Government of Sharjah | ||||||||
| 4.00%, 07/28/50(a) | 10,925 | 7,019,313 | ||||||
| 6.50%, 11/23/32(a) | 10,810 | 11,161,325 | ||||||
| RAK Capital, 3.09%, 03/31/25(a) | 8,014 | 7,743,528 | ||||||
7
| Schedule of Investments (unaudited) (continued) | iShares® J.P. Morgan USD Emerging Markets Bond ETF |
| January 31, 2024 | (Percentages shown are based on Net Assets) |
| Security | Par (000) | Value | ||||||
| United Arab Emirates (continued) | ||||||||
| Sharjah Sukuk Program Ltd. | ||||||||
| 2.94%, 06/10/27(a) | $ | 10,942 | $ | 10,093,995 | ||||
| 3.23%, 10/23/29(a) | 10,800 | 9,639,000 | ||||||
| 3.85%, 04/03/26(a) | 10,749 | 10,372,785 | ||||||
| 4.23%, 03/14/28(a) | 12,415 | 11,856,325 | ||||||
| UAE International Government Bond | ||||||||
| 2.00%, 10/19/31(a) | 11,350 | 9,519,813 | ||||||
| 2.88%, 10/19/41(a) | 10,947 | 8,018,678 | ||||||
| 3.25%, 10/19/61(a) | 21,438 | 14,711,827 | ||||||
| 4.05%, 07/07/32(a) | 18,760 | 18,173,750 | ||||||
| 4.92%, 09/25/33(a) | 15,800 | 16,376,305 | ||||||
| 4.95%, 07/07/52(a) | 13,477 | 12,803,150 | ||||||
| 482,668,607 | ||||||||
| Uruguay — 2.1% | ||||||||
| Uruguay Government International Bond | ||||||||
| 4.38%, 10/27/27 | 33,953 | 33,918,991 | ||||||
| 4.38%, 01/23/31 (Call 10/23/30) | 49,485 | 48,710,207 | ||||||
| 4.98%, 04/20/55 | 62,151 | 58,390,837 | ||||||
| 5.10%, 06/18/50 | 94,042 | 91,493,916 | ||||||
| 5.75%, 10/28/34 (Call 07/28/34) | 52,822 | 56,598,442 | ||||||
| 7.63%, 03/21/36 | 25,352 | 30,898,197 | ||||||
| 320,010,590 | ||||||||
| Zambia — 0.2% | ||||||||
| Zambia Government International Bond | ||||||||
| 8.50%, 04/14/24(a)(e)(f) | 23,929 | 15,075,270 | ||||||
| 8.97%, 07/30/27(a)(e)(f) | 30,124 | 18,789,845 | ||||||
| 33,865,115 | ||||||||
| Total Foreign Government Obligations — 85.3% | ||||||||
| (Cost: $15,770,918,908) | 13,045,719,009 | |||||||
| Total Long-Term Investments — 98.2% | ||||||||
| (Cost: $18,110,988,621) | 15,023,942,419 | |||||||
| Security | Shares | Value | ||||||
| Short-Term Securities | ||||||||
| Money Market Funds — 0.3% | ||||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares, 5.32%(j)(k) | 36,770,000 | $ | 36,770,000 | |||||
| Total Short-Term Securities — 0.3% | ||||||||
| (Cost: $36,770,000) | 36,770,000 | |||||||
| Total Investments — 98.5% | ||||||||
| (Cost: $18,147,758,621) | 15,060,712,419 | |||||||
| Other Assets Less Liabilities — 1.5% | 235,807,428 | |||||||
| Net Assets — 100.0% | $ | 15,296,519,847 | ||||||
| (a) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
| (b) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
| (c) | Perpetual security with no stated maturity date. |
| (d) | Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
| (e) | Issuer filed for bankruptcy and/or is in default. |
| (f) | Non-income producing security. |
| (g) | U.S. dollar denominated security issued by foreign domiciled entity. |
| (h) | Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. |
| (i) | Zero-coupon bond. |
| (j) | Affiliate of the Fund. |
| (k) | Annualized 7-day yield as of period end. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended January 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| Affiliated Issuer | Value at 10/31/23 | Purchases at Cost | Proceeds from Sale | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 01/31/24 | Shares Held at 01/31/24 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares | $ | 46,700,000 | $ | — | $ | (9,930,000 | )(a) | $ | — | $ | — | $ | 36,770,000 | 36,770,000 | $ | 669,962 | $ | — | ||||||||||||||||||
| (a) | Represents net amount purchased (sold). |
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 each 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 |
8
| Schedule of Investments (unaudited) (continued) | iShares® J.P. Morgan USD Emerging Markets Bond ETF |
| January 31, 2024 |
Fair Value Hierarchy as of Period End (continued)
| ● | 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 | ||||||||||||||||
| Corporate Bonds & Notes | $ | — | $ | 1,978,223,410 | $ | — | $ | 1,978,223,410 | ||||||||
| Foreign Government Obligations | — | 13,045,719,009 | — | 13,045,719,009 | ||||||||||||
| Short-Term Securities | ||||||||||||||||
| Money Market Funds | 36,770,000 | — | — | 36,770,000 | ||||||||||||
| $ | 36,770,000 | $ | 15,023,942,419 | $ | — | $ | 15,060,712,419 | |||||||||
| Portfolio Abbreviation | |
| CJSC | Closed Joint Stock Company |
| CMT | Constant Maturity Treasury |
| Currency Abbreviation | |
| USD | United States Dollar |
9