| Schedule of Investments (unaudited) April 30, 2022 |
BlackRock World ex U.S. Carbon Transition Readiness ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Common Stocks |
||||||||
| Australia — 7.8% | ||||||||
| Aristocrat Leisure Ltd. |
50,267 | $ | 1,166,311 | |||||
| Australia & New Zealand Banking Group Ltd. |
134,769 | 2,564,545 | ||||||
| BHP Group Ltd. |
55,778 | 1,863,846 | ||||||
| BlueScope Steel Ltd. |
15,865 | 225,530 | ||||||
| Cochlear Ltd. |
22,712 | 3,658,161 | ||||||
| Commonwealth Bank of Australia |
17,702 | 1,286,644 | ||||||
| CSL Ltd. |
16,366 | 3,123,453 | ||||||
| Fortescue Metals Group Ltd. |
24,716 | 373,535 | ||||||
| Glencore PLC |
417,667 | 2,573,524 | ||||||
| Goodman Group |
28,557 | 475,300 | ||||||
| Lendlease Corp. Ltd. |
32,732 | 280,394 | ||||||
| Macquarie Group Ltd. |
50,100 | 7,212,545 | ||||||
| Medibank Pvt Ltd. |
523,044 | 1,175,354 | ||||||
| National Australia Bank Ltd. |
125,584 | 2,866,916 | ||||||
| Rio Tinto Ltd. |
20,040 | 1,585,242 | ||||||
| Rio Tinto PLC |
46,259 | 3,268,483 | ||||||
| Santos Ltd. |
49,355 | 275,799 | ||||||
| SEEK Ltd. |
7,849 | 153,804 | ||||||
| Sonic Healthcare Ltd. |
12,692 | 327,786 | ||||||
| Stockland |
305,610 | 884,566 | ||||||
| Tabcorp Holdings Ltd. |
165,831 | 634,173 | ||||||
| Wesfarmers Ltd. |
86,356 | 2,988,183 | ||||||
| Westpac Banking Corp. |
118,737 | 1,987,656 | ||||||
|
|
|
|||||||
| 40,951,750 | ||||||||
| Austria — 0.2% | ||||||||
| Erste Group Bank AG |
10,521 | 327,579 | ||||||
| Verbund AG |
6,513 | 696,170 | ||||||
| voestalpine AG |
5,177 | 134,720 | ||||||
|
|
|
|||||||
| 1,158,469 | ||||||||
| Belgium — 0.8% | ||||||||
| Ageas SA/NV |
1,336 | 63,930 | ||||||
| Anheuser-Busch InBev SA/NV |
54,442 | 3,132,567 | ||||||
| KBC Group NV |
9,145 | 622,151 | ||||||
| Umicore SA |
9,185 | 353,103 | ||||||
|
|
|
|||||||
| 4,171,751 | ||||||||
| Canada — 11.8% | ||||||||
| Algonquin Power & Utilities Corp. |
61,289 | 887,382 | ||||||
| Alimentation Couche-Tard Inc. |
66,466 | 2,958,931 | ||||||
| AltaGas Ltd. |
3,507 | 80,205 | ||||||
| Ballard Power Systems Inc.(a)(b) |
65,297 | 542,341 | ||||||
| Bank of Montreal |
22,378 | 2,372,714 | ||||||
| Bank of Nova Scotia (The) |
50,935 | 3,225,441 | ||||||
| BlackBerry Ltd.(a) |
49,432 | 282,820 | ||||||
| Brookfield Asset Management Inc., Class A |
90,347 | 4,506,625 | ||||||
| Canadian Imperial Bank of Commerce |
18,370 | 2,030,831 | ||||||
| Canadian National Railway Co |
13,360 | 1,571,190 | ||||||
| Canadian Tire Corp. Ltd., Class A, NVS |
1,512 | 208,266 | ||||||
| CGI Inc.(a) |
7,714 | 615,126 | ||||||
| Dollarama Inc. |
9,352 | 519,924 | ||||||
| Empire Co. Ltd., Class A, NVS |
12,692 | 419,197 | ||||||
| Enbridge Inc. |
185,871 | 8,111,103 | ||||||
| Fortis Inc. |
3,507 | 170,648 | ||||||
| Franco-Nevada Corp. |
34,402 | 5,202,678 | ||||||
| Hydro One Ltd.(c) |
97,027 | 2,623,086 | ||||||
| Keyera Corp. |
6,012 | 149,148 | ||||||
| Loblaw Companies Ltd. |
8,350 | 763,794 | ||||||
| Metro Inc. |
8,183 | 449,774 | ||||||
| National Bank of Canada |
23,046 | 1,609,533 | ||||||
| Security | Shares | Value | ||||||
| Canada (continued) | ||||||||
| Northland Power Inc. |
38,433 | $ | 1,159,886 | |||||
| Nutrien Ltd. |
1,670 | 164,108 | ||||||
| Parkland Corp. |
27,221 | 773,202 | ||||||
| Power Corp. of Canada |
2,171 | 63,880 | ||||||
| Restaurant Brands International Inc. |
30,728 | 1,755,442 | ||||||
| RioCan REIT |
161,322 | 3,013,839 | ||||||
| Ritchie Bros Auctioneers Inc. |
5,511 | 303,552 | ||||||
| Royal Bank of Canada |
44,255 | 4,469,767 | ||||||
| Shopify Inc., Class A(a) |
3,674 | 1,571,613 | ||||||
| Sun Life Financial Inc. |
84,335 | 4,195,578 | ||||||
| TC Energy Corp. |
27,712 | 1,465,793 | ||||||
| Toronto-Dominion Bank (The) |
47,595 | 3,437,777 | ||||||
| Tourmaline Oil Corp. |
2,338 | 120,408 | ||||||
| Wheaton Precious Metals Corp. |
1,670 | 74,852 | ||||||
|
|
|
|||||||
| 61,870,454 | ||||||||
| Denmark — 3.1% | ||||||||
| Carlsberg A/S, Class B |
9,018 | 1,145,585 | ||||||
| DSV A/S |
32,899 | 5,393,846 | ||||||
| Novo Nordisk A/S, Class B |
49,098 | 5,608,279 | ||||||
| Novozymes A/S, Class B |
30,060 | 2,095,468 | ||||||
| Orsted AS(c) |
4,676 | 517,308 | ||||||
| Vestas Wind Systems A/S |
60,214 | 1,535,517 | ||||||
|
|
|
|||||||
| 16,296,003 | ||||||||
| Finland — 0.7% | ||||||||
| Fortum Oyj |
8,350 | 138,826 | ||||||
| Orion Oyj, Class B |
51,436 | 2,017,449 | ||||||
| UPM-Kymmene Oyj |
14,028 | 485,261 | ||||||
| Wartsila OYJ Abp |
159,485 | 1,280,639 | ||||||
|
|
|
|||||||
| 3,922,175 | ||||||||
| France — 9.2% | ||||||||
| Air Liquide SA |
4,676 | 808,987 | ||||||
| Alstom SA |
9,185 | 201,890 | ||||||
| Amundi SA(c) |
12,358 | 743,087 | ||||||
| ArcelorMittal SA |
7,139 | 208,157 | ||||||
| AXA SA |
71,643 | 1,895,317 | ||||||
| BioMerieux |
12,191 | 1,160,605 | ||||||
| BNP Paribas SA |
40,915 | 2,121,499 | ||||||
| Bollore SE |
294,254 | 1,373,114 | ||||||
| Capgemini SE |
12,525 | 2,549,827 | ||||||
| Cie. de Saint-Gobain |
19,539 | 1,139,869 | ||||||
| Danone SA |
1,169 | 70,691 | ||||||
| Dassault Systemes SE |
30,728 | 1,358,926 | ||||||
| Electricite de France SA |
51,640 | 469,461 | ||||||
| Engie SA |
28,557 | 336,986 | ||||||
| EssilorLuxottica SA |
3,173 | 540,196 | ||||||
| Gecina SA |
4,843 | 545,555 | ||||||
| Getlink SE |
115,230 | 2,108,606 | ||||||
| Hermes International |
167 | 205,921 | ||||||
| Ipsen SA |
6,179 | 640,538 | ||||||
| Kering SA |
1,837 | 977,417 | ||||||
| Klepierre SA |
27,889 | 667,541 | ||||||
| La Francaise des Jeux SAEM(c) |
7,515 | 280,617 | ||||||
| Legrand SA |
40,414 | 3,581,253 | ||||||
| L’Oreal SA |
9,688 | 3,524,590 | ||||||
| LVMH Moet Hennessy Louis Vuitton SE |
8,183 | 5,295,506 | ||||||
| Publicis Groupe SA |
5,845 | 350,914 | ||||||
| Remy Cointreau SA |
668 | 132,420 | ||||||
| Renault SA(a) |
10,521 | 257,066 | ||||||
| Sanofi |
41,583 | 4,395,110 | ||||||
| 1 |
| Schedule of Investments (unaudited) (continued) April 30, 2022 |
BlackRock World ex U.S. Carbon Transition Readiness ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| France (continued) |
||||||||
| Sartorius Stedim Biotech |
668 | $ | 218,589 | |||||
| Schneider Electric SE |
25,628 | 3,676,827 | ||||||
| SEB SA |
1,837 | 220,600 | ||||||
| Societe Generale SA |
33,901 | 814,778 | ||||||
| Sodexo SA |
3,507 | 263,816 | ||||||
| Teleperformance |
5,177 | 1,858,083 | ||||||
| TotalEnergies SE |
44,923 | 2,205,853 | ||||||
| Worldline SA/France(a)(c) |
27,555 | 1,084,129 | ||||||
|
|
|
|||||||
| 48,284,341 | ||||||||
| Germany — 4.5% | ||||||||
| adidas AG |
7,181 | 1,448,114 | ||||||
| Allianz SE, Registered |
21,065 | 4,752,982 | ||||||
| BASF SE |
835 | 43,974 | ||||||
| Bayer AG, Registered |
19,205 | 1,265,053 | ||||||
| Bayerische Motoren Werke AG |
4,155 | 339,321 | ||||||
| Commerzbank AG(a) |
7,348 | 47,970 | ||||||
| Continental AG(a) |
10,688 | 732,567 | ||||||
| Delivery Hero SE(a)(c) |
4,349 | 152,880 | ||||||
| Deutsche Bank AG, Registered(a) |
39,746 | 397,433 | ||||||
| Deutsche Lufthansa AG, Registered(a) |
87,508 | 651,022 | ||||||
| Deutsche Post AG, Registered |
4,509 | 192,636 | ||||||
| Fresenius SE & Co. KGaA |
2,505 | 88,547 | ||||||
| HeidelbergCement AG |
44,088 | 2,539,796 | ||||||
| HelloFresh SE(a) |
2,171 | 91,517 | ||||||
| Henkel AG & Co. KGaA |
7,849 | 498,106 | ||||||
| Infineon Technologies AG |
53,106 | 1,507,319 | ||||||
| KION Group AG |
5,678 | 315,844 | ||||||
| Mercedes-Benz Group AG |
1,837 | 128,225 | ||||||
| Merck KGaA |
5,010 | 929,492 | ||||||
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered |
4,008 | 954,468 | ||||||
| Puma SE |
2,505 | 184,314 | ||||||
| Rational AG |
167 | 101,878 | ||||||
| SAP SE |
25,885 | 2,623,340 | ||||||
| Siemens AG, Registered |
15,364 | 1,889,080 | ||||||
| Telefonica Deutschland Holding AG |
75,484 | 227,020 | ||||||
| United Internet AG, Registered |
28,557 | 918,703 | ||||||
| Zalando SE(a)(c) |
9,519 | 374,537 | ||||||
|
|
|
|||||||
| 23,396,138 | ||||||||
| Hong Kong — 2.0% | ||||||||
| AIA Group Ltd. |
534,400 | 5,249,816 | ||||||
| Budweiser Brewing Co. APAC Ltd.(c) |
584,500 | 1,454,351 | ||||||
| Futu Holdings Ltd., ADR(a)(b) |
5,511 | 176,297 | ||||||
| Hang Seng Bank Ltd. |
64,200 | 1,136,690 | ||||||
| Hong Kong Exchanges & Clearing Ltd. |
20,700 | 878,073 | ||||||
| Melco Resorts & Entertainment Ltd., ADR(a) |
40,080 | 229,258 | ||||||
| MTR Corp. Ltd. |
56,000 | 297,534 | ||||||
| Sands China Ltd.(a) |
52,800 | 116,380 | ||||||
| SITC International Holdings Co. Ltd. |
18,000 | 59,840 | ||||||
| Swire Pacific Ltd., Class A |
133,500 | 760,404 | ||||||
| WH Group Ltd.(c) |
314,000 | 216,848 | ||||||
|
|
|
|||||||
| 10,575,491 | ||||||||
| Ireland — 0.1% | ||||||||
| CRH PLC |
11,022 | 435,643 | ||||||
| Kerry Group PLC, Class A |
1,002 | 110,991 | ||||||
| Smurfit Kappa Group PLC |
4,342 | 183,475 | ||||||
|
|
|
|||||||
| 730,109 | ||||||||
| Israel — 0.4% | ||||||||
| Bank Hapoalim BM |
22,331 | 207,035 | ||||||
| Security | Shares | Value | ||||||
| Israel (continued) | ||||||||
| Bank Leumi Le-Israel BM |
43,684 | $ | 458,453 | |||||
| Fiverr International Ltd.(a)(b) |
835 | 44,464 | ||||||
| Inmode Ltd.(a) |
3,674 | 92,254 | ||||||
| Israel Discount Bank Ltd., Class A |
35,905 | 212,071 | ||||||
| Mizrahi Tefahot Bank Ltd. |
3,340 | 123,545 | ||||||
| Nice Ltd.(a) |
3,006 | 625,035 | ||||||
| Wix.com Ltd.(a) |
1,837 | 138,620 | ||||||
|
|
|
|||||||
| 1,901,477 | ||||||||
| Italy — 1.9% | ||||||||
| Amplifon SpA |
23,046 | 919,417 | ||||||
| Enel SpA |
783,397 | 5,094,346 | ||||||
| Intesa Sanpaolo SpA |
1,131,456 | 2,305,587 | ||||||
| Poste Italiane SpA(c) |
63,961 | 626,763 | ||||||
| UniCredit SpA |
95,357 | 882,537 | ||||||
|
|
|
|||||||
| 9,828,650 | ||||||||
| Japan — 19.3% | ||||||||
| Advantest Corp. |
2,500 | 170,620 | ||||||
| Ajinomoto Co. Inc. |
29,300 | 761,259 | ||||||
| Asahi Group Holdings Ltd. |
2,400 | 90,463 | ||||||
| Astellas Pharma Inc. |
81,500 | 1,240,896 | ||||||
| Capcom Co. Ltd. |
3,300 | 87,077 | ||||||
| Central Japan Railway Co. |
16,700 | 2,102,282 | ||||||
| Chugai Pharmaceutical Co. Ltd. |
19,100 | 572,334 | ||||||
| CyberAgent Inc. |
30,900 | 326,454 | ||||||
| Daifuku Co. Ltd. |
10,300 | 633,333 | ||||||
| Daiichi Sankyo Co. Ltd. |
42,600 | 1,072,621 | ||||||
| Daikin Industries Ltd. |
18,300 | 2,796,562 | ||||||
| Denso Corp. |
36,400 | 2,218,407 | ||||||
| Eisai Co. Ltd. |
7,462 | 324,977 | ||||||
| ENEOS Holdings Inc. |
447,700 | 1,575,283 | ||||||
| Fast Retailing Co. Ltd. |
3,900 | 1,795,583 | ||||||
| Fuji Electric Co. Ltd. |
21,500 | 942,790 | ||||||
| FUJIFILM Holdings Corp. |
70,200 | 3,858,981 | ||||||
| Fujitsu Ltd. |
24,500 | 3,703,154 | ||||||
| Hankyu Hanshin Holdings Inc. |
39,500 | 1,042,468 | ||||||
| Hitachi Ltd. |
8,400 | 398,382 | ||||||
| Honda Motor Co. Ltd. |
204,600 | 5,381,706 | ||||||
| Hoya Corp. |
3,900 | 387,044 | ||||||
| Ibiden Co. Ltd. |
6,700 | 250,391 | ||||||
| Inpex Corp. |
37,500 | 446,181 | ||||||
| Ito En Ltd. |
1,800 | 73,972 | ||||||
| Japan Metropolitan Fund Invest |
501 | 398,209 | ||||||
| Japan Real Estate Investment Corp. |
167 | 808,256 | ||||||
| JFE Holdings Inc. |
32,200 | 393,765 | ||||||
| Keyence Corp. |
500 | 201,002 | ||||||
| Kirin Holdings Co. Ltd. |
10,700 | 155,982 | ||||||
| Komatsu Ltd. |
56,200 | 1,264,864 | ||||||
| Kubota Corp. |
58,400 | 992,138 | ||||||
| Kurita Water Industries Ltd. |
62,500 | 2,132,269 | ||||||
| Kyocera Corp. |
14,500 | 761,351 | ||||||
| Lasertec Corp. |
1,700 | 227,122 | ||||||
| M3 Inc. |
17,800 | 568,424 | ||||||
| Mazda Motor Corp. |
52,000 | 369,239 | ||||||
| McDonald’s Holdings Co. Japan Ltd. |
1,700 | 67,444 | ||||||
| Mitsubishi Corp. |
2,500 | 83,939 | ||||||
| Mitsubishi Electric Corp. |
416,400 | 4,361,494 | ||||||
| Mitsubishi Heavy Industries Ltd. |
50,100 | 1,712,925 | ||||||
| Mitsui OSK Lines Ltd. |
15,000 | 351,167 | ||||||
| Miura Co. Ltd. |
5,400 | 112,793 | ||||||
| Murata Manufacturing Co. Ltd. |
8,300 | 494,742 | ||||||
| 2 |
| Schedule of Investments (unaudited) (continued) April 30, 2022 |
BlackRock World ex U.S. Carbon Transition Readiness ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Japan (continued) | ||||||||
| NEC Corp. |
2,500 | $ | 96,990 | |||||
| NGK Insulators Ltd. |
58,600 | 788,265 | ||||||
| Nidec Corp. |
30,800 | 1,991,191 | ||||||
| Nihon M&A Center Holdings Inc. |
16,700 | 205,641 | ||||||
| Nintendo Co. Ltd. |
8,400 | 3,833,682 | ||||||
| Nippon Building Fund Inc. |
167 | 866,948 | ||||||
| Nippon Express Holdings Inc. |
17,800 | 1,043,627 | ||||||
| Nippon Paint Holdings Co. Ltd. |
50,100 | 396,859 | ||||||
| Nippon Prologis REIT Inc. |
501 | 1,386,652 | ||||||
| Nippon Steel Corp. |
80,300 | 1,275,050 | ||||||
| Nippon Telegraph & Telephone Corp. |
126,000 | 3,713,137 | ||||||
| Nippon Yusen KK |
15,261 | 1,100,989 | ||||||
| Nissan Chemical Corp. |
7,400 | 390,887 | ||||||
| Nissan Motor Co. Ltd.(a) |
38,900 | 155,738 | ||||||
| Nitto Denko Corp. |
6,600 | 442,998 | ||||||
| Nomura Holdings Inc. |
150,600 | 579,878 | ||||||
| Nomura Research Institute Ltd. |
19,300 | 545,735 | ||||||
| NTT Data Corp. |
50,100 | 923,739 | ||||||
| Olympus Corp. |
68,600 | 1,207,437 | ||||||
| Omron Corp. |
38,300 | 2,257,941 | ||||||
| Oriental Land Co. Ltd./Japan |
5,900 | 892,494 | ||||||
| Panasonic Holdings Corp. |
264,200 | 2,354,866 | ||||||
| Persol Holdings Co. Ltd. |
8,200 | 162,685 | ||||||
| Recruit Holdings Co. Ltd. |
54,663 | 1,983,261 | ||||||
| Renesas Electronics Corp.(a) |
12,800 | 136,678 | ||||||
| Ricoh Co. Ltd. |
11,300 | 82,511 | ||||||
| Rinnai Corp. |
1,000 | 63,919 | ||||||
| Rohm Co. Ltd. |
8,732 | 610,025 | ||||||
| Sekisui Chemical Co. Ltd. |
163,600 | 2,215,330 | ||||||
| Sekisui House Ltd. |
5,500 | 95,524 | ||||||
| Shin-Etsu Chemical Co. Ltd. |
8,200 | 1,126,963 | ||||||
| Shiseido Co. Ltd. |
24,264 | 1,146,994 | ||||||
| SoftBank Group Corp. |
3,600 | 148,069 | ||||||
| Sony Group Corp. |
45,700 | 3,943,956 | ||||||
| SUMCO Corp. |
44,515 | 641,090 | ||||||
| Sumitomo Metal Mining Co. Ltd. |
27,300 | 1,197,289 | ||||||
| Sysmex Corp. |
5,600 | 367,346 | ||||||
| Takeda Pharmaceutical Co. Ltd. |
26,800 | 777,643 | ||||||
| TDK Corp. |
12,600 | 389,236 | ||||||
| Terumo Corp. |
1,800 | 53,577 | ||||||
| Tokyo Electron Ltd. |
1,800 | 759,503 | ||||||
| Toray Industries Inc. |
163,700 | 775,821 | ||||||
| Toshiba Corp. |
36,400 | 1,511,631 | ||||||
| TOTO Ltd. |
4,500 | 151,645 | ||||||
| Toyota Industries Corp. |
18,900 | 1,133,561 | ||||||
| Toyota Motor Corp. |
406,000 | 6,956,284 | ||||||
| Yamaha Corp. |
1,700 | 64,952 | ||||||
| Yamato Holdings Co. Ltd. |
9,500 | 177,764 | ||||||
|
|
|
|||||||
| 100,834,346 | ||||||||
| Netherlands — 4.1% | ||||||||
| Adyen NV(a)(c) |
167 | 280,108 | ||||||
| Akzo Nobel NV |
53,941 | 4,679,192 | ||||||
| ASM International NV |
167 | 50,182 | ||||||
| ASML Holding NV |
13,360 | 7,582,314 | ||||||
| CNH Industrial NV |
59,118 | 837,483 | ||||||
| EXOR NV |
668 | 46,356 | ||||||
| ING Groep NV |
220,106 | 2,085,330 | ||||||
| Koninklijke Ahold Delhaize NV |
68,804 | 2,029,440 | ||||||
| Koninklijke DSM NV |
7,849 | 1,319,492 | ||||||
| Koninklijke Philips NV |
33,734 | 881,507 | ||||||
| Security | Shares | Value | ||||||
| Netherlands (continued) | ||||||||
| NN Group NV |
3,507 | $ | 171,779 | |||||
| Prosus NV |
18,203 | 877,906 | ||||||
| Stellantis NV |
32,565 | 437,206 | ||||||
|
|
|
|||||||
| 21,278,295 | ||||||||
| New Zealand — 0.1% | ||||||||
| Fisher & Paykel Healthcare Corp. Ltd. |
17,535 | 240,968 | ||||||
| Mercury NZ Ltd. |
51,671 | 200,332 | ||||||
| Meridian Energy Ltd. |
38,142 | 115,763 | ||||||
|
|
|
|||||||
| 557,063 | ||||||||
| Norway — 1.2% | ||||||||
| Aker BP ASA |
6,179 | 221,387 | ||||||
| DNB Bank ASA |
31,229 | 605,134 | ||||||
| Equinor ASA |
36,239 | 1,224,862 | ||||||
| Norsk Hydro ASA |
351,292 | 2,949,982 | ||||||
| Orkla ASA |
127,254 | 1,032,621 | ||||||
| Schibsted ASA, Class A |
3,696 | 77,020 | ||||||
|
|
|
|||||||
| 6,111,006 | ||||||||
| Portugal — 0.3% | ||||||||
| Galp Energia SGPS SA |
128,089 | 1,559,053 | ||||||
|
|
|
|||||||
| Singapore — 1.5% | ||||||||
| City Developments Ltd. |
135,900 | 833,218 | ||||||
| DBS Group Holdings Ltd. |
89,100 | 2,161,621 | ||||||
| Keppel Corp. Ltd. |
477,692 | 2,355,881 | ||||||
| Sea Ltd., ADR(a) |
1,002 | 82,926 | ||||||
| STMicroelectronics NV |
67,802 | 2,505,091 | ||||||
|
|
|
|||||||
| 7,938,737 | ||||||||
| Spain — 3.0% | ||||||||
| Amadeus IT Group SA(a) |
25,551 | 1,601,100 | ||||||
| Banco Bilbao Vizcaya Argentaria SA |
198,062 | 1,039,281 | ||||||
| Banco Santander SA |
640,946 | 1,873,067 | ||||||
| CaixaBank SA |
1,099,702 | 3,549,722 | ||||||
| Iberdrola SA |
442,810 | 5,088,243 | ||||||
| Industria de Diseno Textil SA |
28,112 | 589,432 | ||||||
| Siemens Gamesa Renewable Energy SA(a) |
39,579 | 630,437 | ||||||
| Telefonica SA |
233,077 | 1,133,836 | ||||||
|
|
|
|||||||
| 15,505,118 | ||||||||
| Sweden — 3.2% | ||||||||
| Alfa Laval AB |
10,855 | 302,163 | ||||||
| Atlas Copco AB, Class A |
7,348 | 333,135 | ||||||
| Boliden AB |
42,904 | 1,860,368 | ||||||
| Electrolux AB, Class B |
85,838 | 1,309,064 | ||||||
| EQT AB |
19,372 | 548,263 | ||||||
| Evolution AB(c) |
5,177 | 531,151 | ||||||
| Fastighets AB Balder, Class B(a) |
15,531 | 769,829 | ||||||
| H & M Hennes & Mauritz AB, Class B |
3,980 | 50,105 | ||||||
| Hexagon AB, Class B |
33,581 | 433,293 | ||||||
| Husqvarna AB, Class B |
31,229 | 298,521 | ||||||
| Investor AB, Class B |
52,939 | 1,018,700 | ||||||
| Kinnevik AB, Class B(a) |
1,670 | 32,686 | ||||||
| Lundin Energy AB |
66,132 | 2,734,284 | ||||||
| Nibe Industrier AB, Class B |
73,859 | 724,143 | ||||||
| Skandinaviska Enskilda Banken AB, Class A |
34,826 | 390,542 | ||||||
| Svenska Handelsbanken AB, Class A |
9,686 | 97,696 | ||||||
| Tele2 AB, Class B |
263,398 | 3,491,152 | ||||||
| Telefonaktiebolaget LM Ericsson, Class B |
118,904 | 948,524 | ||||||
| Telia Co. AB |
71,309 | 295,976 | ||||||
| Volvo AB, Class B |
25,630 | 408,886 | ||||||
|
|
|
|||||||
| 16,578,481 | ||||||||
| 3 |
| Schedule of Investments (unaudited) (continued) April 30, 2022 |
BlackRock World ex U.S. Carbon Transition Readiness ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Switzerland — 9.5% | ||||||||
| ABB Ltd., Registered |
154,809 | $ | 4,644,570 | |||||
| Alcon Inc. |
835 | 59,620 | ||||||
| Chocoladefabriken Lindt & Spruengli AG, Participation Certificates, NVS |
167 1,872,902 | |||||||
| Chocoladefabriken Lindt & Spruengli AG, Registered |
1 | 118,633 | ||||||
| Coca-Cola HBC AG, Class DI |
10,688 | 216,687 | ||||||
| Credit Suisse Group AG, Registered |
68,303 | 463,594 | ||||||
| Geberit AG, Registered |
167 | 95,236 | ||||||
| Givaudan SA, Registered |
1,002 | 3,982,471 | ||||||
| Julius Baer Group Ltd. |
7,181 | 343,164 | ||||||
| Nestle SA, Registered |
94,188 | 12,159,113 | ||||||
| Novartis AG, Registered |
52,772 | 4,663,422 | ||||||
| Partners Group Holding AG |
835 | 884,680 | ||||||
| Roche Holding AG, Bearer |
2,842 | 1,141,760 | ||||||
| Roche Holding AG, NVS |
29,392 | 10,898,957 | ||||||
| Schindler Holding AG, Participation Certificates, NVS |
1,169 | 224,595 | ||||||
| Siemens Energy AG(a) |
7,136 | 137,455 | ||||||
| Sonova Holding AG, Registered |
1,837 | 662,470 | ||||||
| Straumann Holding AG |
3,340 | 393,758 | ||||||
| Swiss Re AG |
9,519 | 780,623 | ||||||
| UBS Group AG, Registered |
33,922 | 575,881 | ||||||
| Zurich Insurance Group AG |
11,857 | 5,398,131 | ||||||
|
|
|
|||||||
| 49,717,722 | ||||||||
| United Kingdom — 13.3% | ||||||||
| 3i Group PLC |
23,547 | 385,352 | ||||||
| abrdn plc |
34,402 | 80,780 | ||||||
| Associated British Foods PLC |
8,183 | 163,748 | ||||||
| AstraZeneca PLC |
45,758 | 6,106,006 | ||||||
| Auto Trader Group PLC(c) |
56,446 | 445,481 | ||||||
| Aviva PLC |
159,151 | 853,865 | ||||||
| Barclays PLC |
743,484 | 1,366,628 | ||||||
| Barratt Developments PLC |
13,694 | 83,780 | ||||||
| Berkeley Group Holdings PLC |
30,060 | 1,524,538 | ||||||
| BP PLC |
570,639 | 2,754,927 | ||||||
| British Land Co PLC/The |
18,370 | 118,329 | ||||||
| BT Group PLC |
666,998 | 1,479,125 | ||||||
| Coca-Cola Europacific Partners PLC |
52,605 | 2,627,620 | ||||||
| Diageo PLC |
84,772 | 4,229,178 | ||||||
| Entain PLC(a) |
60,287 | 1,132,812 | ||||||
| Experian PLC |
56,947 | 1,966,628 | ||||||
| Ferguson PLC |
22,700 | 2,847,697 | ||||||
| GlaxoSmithKline PLC |
281,228 | 6,339,605 | ||||||
| HSBC Holdings PLC |
659,650 | 4,122,238 | ||||||
| Informa PLC(a) |
18,704 | 132,684 | ||||||
| Intertek Group PLC |
2,672 | 166,505 | ||||||
| J Sainsbury PLC |
495,990 | 1,447,177 | ||||||
| JD Sports Fashion PLC |
276,013 | 454,780 | ||||||
| Johnson Matthey PLC |
16,700 | 459,388 | ||||||
| Land Securities Group PLC |
41,583 | 389,989 | ||||||
| Lloyds Banking Group PLC |
2,531,553 | 1,437,828 | ||||||
| London Stock Exchange Group PLC |
10,020 | 987,889 | ||||||
| M&G PLC |
66,633 | 176,907 | ||||||
| NatWest Group PLC |
250,667 | 672,486 | ||||||
| Ocado Group PLC(a) |
11,857 | 135,604 | ||||||
| Security | Shares | Value | ||||||
| United Kingdom (continued) | ||||||||
| Prudential PLC |
122,244 | $ | 1,521,749 | |||||
| Reckitt Benckiser Group PLC |
1,002 | 78,141 | ||||||
| RELX PLC |
65,631 | 1,955,179 | ||||||
| Rolls-Royce Holdings PLC(a) |
130,427 | 133,709 | ||||||
| Sage Group PLC/The |
29,392 | 269,718 | ||||||
| Segro PLC |
162,491 | 2,720,441 | ||||||
| Shell PLC |
220,607 | 5,922,392 | ||||||
| Standard Chartered PLC |
84,502 | 577,683 | ||||||
| Taylor Wimpey PLC |
165,831 | 260,812 | ||||||
| Unilever PLC |
123,079 | 5,721,957 | ||||||
| Vodafone Group PLC |
2,959,574 | 4,480,674 | ||||||
| Whitbread PLC(a) |
15,030 | 524,650 | ||||||
| WPP PLC |
17,702 | 220,653 | ||||||
|
|
|
|||||||
| 69,477,332 | ||||||||
|
|
|
|||||||
| Total Common Stocks — 98.0% |
512,643,961 | |||||||
|
|
|
|||||||
| Preferred Stocks |
||||||||
| Germany — 0.7% |
||||||||
| Bayerische Motoren Werke AG, Preference Shares, NVS |
12,358 | 910,396 | ||||||
| Henkel AG & Co. KGaA, Preference Shares, NVS |
18,036 | 1,158,115 | ||||||
| Sartorius AG, Preference Shares, NVS |
167 | 62,613 | ||||||
| Volkswagen AG, Preference Shares, NVS |
8,350 | 1,293,135 | ||||||
|
|
|
|||||||
| 3,424,259 | ||||||||
|
|
|
|||||||
| Total Preferred Stocks — 0.7% |
3,424,259 | |||||||
|
|
|
|||||||
| Short-Term Investments |
||||||||
| Money Market Funds — 0.6% |
||||||||
| BlackRock Cash Funds: Institutional, |
409,716 | 409,716 | ||||||
| BlackRock Cash Funds: Treasury, |
2,460,000 | 2,460,000 | ||||||
|
|
|
|||||||
| 2,869,716 | ||||||||
|
|
|
|||||||
| Total Short-Term Investments — 0.6% |
2,869,716 | |||||||
|
|
|
|||||||
| Total Investments in Securities — 99.3% |
518,937,936 | |||||||
| Other Assets, Less Liabilities — 0.7% |
|
3,914,063 | ||||||
|
|
|
|||||||
| Net Assets — 100.0% |
|
$ | 522,851,999 | |||||
|
|
|
|||||||
| (a) | Non-income producing security. |
| (b) | All or a portion of this security is on loan. |
| (c) | 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. |
| (d) | Affiliate of the Fund. |
| (e) | Annualized 7-day yield as of period end. |
| (f) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
| 4 |
| Schedule of Investments (unaudited) (continued) April 30, 2022 |
BlackRock World ex U.S. Carbon Transition Readiness ETF |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended April 30, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| Affiliated Issuer | Value at 07/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 04/30/22 |
Shares Held at 04/30/22 |
Income | Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
| BlackRock Cash Funds: Institutional, |
$ — | $409,524 | (a) | $ | — | $ | 52 | $ | 140 | $ | 409,716 | 409,716 | $ | 4,814 | (b) | $ | — | |||||||||||||||||||
| BlackRock Cash Funds: Treasury, |
3,020,000 | — | (560,000 | )(a) | — | — | 2,460,000 | 2,460,000 | 962 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| $ | 52 | $ | 140 | $ | 2,869,716 | $ | 5,776 | $ | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| (a) | Represents net amount purchased (sold). |
| (b) | All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts
|
|
||||||||||||||||
| Description | Number of Contracts |
Expiration Date |
Notional Amount (000) |
Value/ Unrealized Appreciation (Depreciation) |
||||||||||||
|
|
||||||||||||||||
| Long Contracts |
||||||||||||||||
| MSCI EAFE Index |
57 | 06/17/22 | $ | 5,690 | $ | (288,005 | ) | |||||||||
|
|
|
|||||||||||||||
Fair Value Measurements
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 |
| • | Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global 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 Global 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.
| 5 |
| Schedule of Investments (unaudited) (continued) April 30, 2022 |
BlackRock World ex U.S. Carbon Transition Readiness ETF |
Fair Value Measurements (continued)
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 | |||||||||||||
|
|
||||||||||||||||
| Investments |
||||||||||||||||
| Assets |
||||||||||||||||
| Common Stocks |
$ | 65,491,517 | $ | 447,152,444 | $ | — | $ | 512,643,961 | ||||||||
| Preferred Stocks |
— | 3,424,259 | — | 3,424,259 | ||||||||||||
| Money Market Funds |
2,869,716 | — | — | 2,869,716 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 68,361,233 | $ | 450,576,703 | $ | — | $ | 518,937,936 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Derivative financial instruments(a) |
||||||||||||||||
| Liabilities |
||||||||||||||||
| Futures Contracts |
$ | (288,005 | ) | $ | — | $ | — | $ | (288,005 | ) | ||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
| Portfolio Abbreviations - Equity | ||
| ADR |
American Depositary Receipt | |
| NVS |
Non-Voting Shares | |
| REIT |
Real Estate Investment Trust | |
| 6 |