N-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS

OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-09102

iShares, Inc.

(Exact name of Registrant as specified in charter)

c/o: State Street Bank and Trust Company

200 Clarendon Street, Boston, MA 02116

(Address of principal executive offices) (Zip code)

The Corporation Trust Incorporated

351 West Camden Street, Baltimore, MD 21201

(Name and address of agent for service)

Registrant’s telephone number, including area code: (415) 670-2000

Date of fiscal year end: October 31, 2013

Date of reporting period: January 31, 2013

Item 1. Schedules of Investments.

Schedule of Investments  (Unaudited)

iSHARES^® EMERGING MARKETS CORPORATE BOND FUND

January 31, 2013

Security	Principal (000s)		Value
CORPORATE BONDS & NOTESa — 47.47%
BRAZIL — 13.20%
Banco Bradesco SA
4.50%, 01/12/17b	$	200	$	213,000
5.90%, 01/16/21b		100		109,250
Banco Santander Brasil SA
4.50%, 04/06/15b		200		207,500
Banco Votorantim SA
7.38%, 01/21/20b		200		228,000
Braskem Finance Ltd.
7.00%, 05/07/20b		100		112,000
Fibria Overseas Finance Ltd.
7.50%, 05/04/20 (Call 05/04/15)b		100		110,000
Gerdau Trade Inc.
5.75%, 01/30/21b		100		110,500
GTL Trade Finance Inc.
7.25%, 10/20/17b		200		233,000
Itau Unibanco Holding SA
5.50%, 08/06/22b		200		209,000
5.75%, 01/22/21b		100		107,000
6.20%, 04/15/20b		100		109,750
JBS USA LLC
7.25%, 06/01/21 (Call 06/01/15)b		86		89,332
8.25%, 02/01/20 (Call 02/01/15)b		38		40,850
Odebrecht Drilling Norbe VIII/IX Ltd.
6.35%, 06/30/21 (Call 06/30/20)b		97		108,528
Odebrecht Finance Ltd.
6.00%, 04/05/23b		200		229,000
OGX Austria GmbH
8.50%, 06/01/18 (Call 06/01/15)b		200		186,500
Telemar Norte Leste SA
5.50%, 10/23/20b		200		211,000
Vale Overseas Ltd.
4.38%, 01/11/22		200		206,570
4.63%, 09/15/20		175		186,423
6.88%, 11/21/36		119		139,955
6.88%, 11/10/39		100		118,598
8.25%, 01/17/34		50		66,490
Vale SA
5.63%, 09/11/42		35		35,665
Voto Votorantim Overseas Trading Co.
6.63%, 09/25/19b		100		117,000
				3,484,911
CHILE — 0.15%
Celulosa Arauco y Constitucion SA
4.75%, 01/11/22		37		38,460
				38,460
CHINA — 1.21%
Agile Property Holdings Ltd.
8.88%, 04/28/17 (Call 04/28/14)b		100		105,000
Evergrande Real Estate Group Ltd.
13.00%, 01/27/15b		100		107,250

Security	Principal (000s)		Value
Shimao Property Holdings Ltd.
9.65%, 08/03/17 (Call 08/03/14)b	$	100	$	107,745
				319,995
COLOMBIA — 0.62%
Bancolombia SA
6.13%, 07/26/20		147		162,802
				162,802
HONG KONG — 5.12%
Bank of China Hong Kong Ltd.
5.55%, 02/11/20b		100		111,438
CITIC Pacific Ltd.
6.63%, 04/15/21b		100		103,312
Hongkong Land Finance Co. Ltd.
4.50%, 10/07/25		200		205,692
Hutchison Whampoa Finance (CI) Ltd.
7.45%, 08/01/17b		100		122,027
Hutchison Whampoa International Ltd.
4.63%, 09/11/15b		100		107,911
5.75%, 09/11/19b		100		117,057
7.63%, 04/09/19b		200		253,190
Li & Fung Ltd.
5.25%, 05/13/20		100		107,790
Noble Group Ltd.
6.75%, 01/29/20b		100		108,750
Swire Pacific MTN Financing Ltd.
5.50%, 08/19/19		100		115,530
				1,352,697
INDIA — 3.18%
Axis Bank Ltd.
4.75%, 05/02/16b		100		104,858
ICICI Bank Ltd.
5.00%, 01/15/16b		116		122,960
5.75%, 11/16/20b		200		217,132
Reliance Holdings USA Inc.
5.40%, 02/14/22b		250		277,393
Vedanta Resources PLC
9.50%, 07/18/18b		100		118,250
				840,593
ISRAEL — 0.80%
Teva Pharmaceutical Finance Co. BV
2.95%, 12/18/22		150		148,537
Teva Pharmaceutical Finance LLC
6.15%, 02/01/36		50		62,720
				211,257
JAMAICA — 0.83%
Digicel Group Ltd.
10.50%, 04/15/18 (Call 04/15/14)b		100		111,500
Digicel Ltd.
12.00%, 04/01/14 (Call 03/04/13)b		100		107,750
				219,250

1

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS CORPORATE BOND FUND

January 31, 2013

Security	Principal (000s)		Value
KAZAKHSTAN — 0.42%
Halyk Savings Bank of Kazakhstan JSC
7.25%, 05/03/17b	$	100	$	110,750
				110,750
MEXICO — 6.73%
America Movil SAB de CV
3.13%, 07/16/22		400		397,405
5.00%, 03/30/20		100		114,272
5.75%, 01/15/15		60		65,226
6.13%, 03/30/40		100		124,151
6.38%, 03/01/35		50		62,915
BBVA Bancomer SA Texas Agency
4.50%, 03/10/16b		158		167,085
7.25%, 04/22/20b		100		113,500
Cemex Espana SA (Luxembourg)
9.25%, 05/12/20 (Call 05/12/15)b		170		182,750
9.88%, 04/30/19 (Call 04/30/16)b		150		168,375
Cemex Finance LLC
9.50%, 12/14/16 (Call 12/14/13)b		100		106,750
Grupo Bimbo SAB de CV
4.50%, 01/25/22b		100		108,565
Grupo Televisa SAB
6.63%, 01/15/40		56		70,719
NII Capital Corp.
10.00%, 08/15/160 (Call 08/15/13)		100		96,750
				1,778,463
PERU — 0.97%
Banco de Credito del Peru
5.38%, 09/16/20b		100		111,500
Southern Copper Corp.
5.25%, 11/08/42		90		87,579
6.75%, 04/16/40		48		56,152
				255,231
QATAR — 0.40%
CBQ Finance Ltd.
5.00%, 11/18/14b		100		105,750
				105,750
RUSSIA — 5.32%
Alfa Bank OJSC Via Alfa Bond Issuance PLC
7.88%, 09/25/17b		200		226,500
ALROSA Finance SA
8.88%, 11/17/14b		100		110,860
Evraz Group SA
9.50%, 04/24/18b		100		115,801
LUKOIL International Finance BV
6.38%, 11/05/14b		100		107,740
6.66%, 06/07/22b		120		144,900
Severstal OAO Via Steel Capital SA
6.70%, 10/25/17b		100		109,800
TNK-BP Finance SA
6.63%, 03/20/17b		119		135,065
7.88%, 03/13/18b		100		120,750
Vimpel Communications Via VIP Finance Ireland Ltd. OJSC
6.49%, 02/02/16b		200		213,700
9.13%, 04/30/18b		100		118,750
				1,403,866

Security	Principal (000s)		Value
SINGAPORE — 1.58%
DBS Bank Ltd.
2.35%, 02/28/17b	$	200	$	205,385
Oversea-Chinese Banking Corp. Ltd.
3.75%, 11/15/22 (Call 11/15/17)c		100		105,301
PSA International Pte Ltd.
3.88%, 02/11/21b		100		106,992
				417,678
SOUTH AFRICA — 0.19%
AngloGold Ashanti Holdings PLC
5.13%, 08/01/22		50		50,713
				50,713
SOUTH KOREA — 3.90%
Hana Bank
4.00%, 11/03/16b		200		217,298
Hyundai Capital America
2.13%, 10/02/17b		50		50,360
Hyundai Capital Services Inc.
6.00%, 05/05/15b		200		219,179
POSCO
8.75%, 03/26/14b		100		108,401
Shinhan Bank
4.38%, 09/15/15b		200		215,415
Woori Bank Co. Ltd.
4.75%, 01/20/16b		200		218,374
				1,029,027
THAILAND — 1.28%
Bangkok Bank PCL
4.80%, 10/18/20b		100		110,232
PTTEP Canada International Finance Ltd.
5.69%, 04/05/21b		200		228,075
				338,307
TURKEY — 0.79%
Akbank TAS
5.00%, 10/24/22b		200		208,858
				208,858
UKRAINE — 0.40%
Metinvest BV
10.25%, 05/20/15b		100		105,750
				105,750
UNITED ARAB EMIRATES — 0.38%
Dolphin Energy Ltd.
5.89%, 06/15/19b		89		99,953
				99,953
TOTAL CORPORATE BONDS & NOTES
(Cost: $12,297,520)				12,534,311

2

Schedule of Investments (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS CORPORATE BOND FUND

January 31, 2013

Security	Principal (000s)		Value
FOREIGN AGENCY OBLIGATIONSa — 50.54%
BRAZIL — 7.25%
Banco do Brasil SA
4.50%, 01/22/15b	$	200	$	209,000
5.38%, 01/15/21b		100		105,000
Banco Nacional de Desenvolvimento Economico e Social
6.37%, 06/16/18b		100		118,000
6.50%, 06/10/19b		100		120,000
Centrais Eletricas Brasileiras SA
6.88%, 07/30/19b		100		115,250
Petrobras International Finance Co.
3.88%, 01/27/16		100		104,731
5.38%, 01/27/21		300		328,686
5.75%, 01/20/20		350		391,041
6.75%, 01/27/41		75		87,661
6.88%, 01/20/40		75		88,644
7.88%, 03/15/19		200		246,368
				1,914,381
CHILE — 2.22%
Banco del Estado de Chile
4.13%, 10/07/20b		150		162,607
Corporacion Nacional del Cobre de Chile
4.25%, 07/17/42b		200		191,440
7.50%, 01/15/19b		100		127,192
Empresa Nacional del Petroleo
4.75%, 12/06/21b		100		105,265
				586,504
CHINA — 3.62%
Amber Circle Funding Ltd.
3.25%, 12/04/22b		200		197,888
CNOOC Finance 2012 Ltd.
5.00%, 05/02/42b		200		221,949
CNPC (HK) Overseas Capital Ltd.
3.13%, 04/28/16b		200		209,780
Sinochem Overseas Capital Co. Ltd.
4.50%, 11/12/20b		100		106,152
Sinopec Group Overseas Development 2012 Ltd.
4.88%, 05/17/42b		200		219,249
				955,018
COLOMBIA — 0.18%
Ecopetrol SA
7.63%, 07/23/19		37		47,175
				47,175
INDIA — 1.18%
Indian Oil Corp. Ltd.
4.75%, 01/22/15b		100		104,840
State Bank of India
4.50%, 10/23/14		200		207,828
				312,668
INDONESIA — 2.30%
Majapahit Holding BV

Security	Principal (000s)		Value
7.25%, 06/28/17b	$	100	$	117,250
7.75%, 01/20/20b		220		273,900
PT Pertamina (Persero) Tbk
4.88%, 05/03/22b		200		215,000
				606,150
ISRAEL — 0.84%
Israel Electric Corp. Ltd.
6.70%, 02/10/17b		200		221,000
				221,000
KAZAKHSTAN — 1.44%
KazMunaiGaz Finance Sub BV
7.00%, 05/05/20b		100		121,750
KazMunaiGaz National Co.
9.13%, 07/02/18b		200		258,300
				380,050
MALAYSIA — 1.85%
Penerbangan Malaysia Bhd
5.63%, 03/15/16b		100		112,784
Petronas Capital Ltd.
5.25%, 08/12/19b		200		235,238
7.88%, 05/22/22b		100		140,932
				488,954
MEXICO — 4.85%
Comision Federal de Electricidad
4.88%, 05/26/21b		200		222,000
Pemex Project Funding Master Trust
5.75%, 03/01/18		200		230,500
6.63%, 06/15/35		100		120,750
Petroleos Mexicanos
4.88%, 03/15/15		150		160,500
4.88%, 01/24/22		75		82,594
5.50%, 01/21/21		100		114,750
5.50%, 06/27/44		25		25,687
6.50%, 06/02/41		210		247,275
8.00%, 05/03/19		60		76,800
				1,280,856
PHILIPPINES — 0.44%
Power Sector Assets & Liabilities Management Corp.
6.88%, 11/02/16b		100		117,500
				117,500
QATAR — 2.52%
Qatari Diar Finance QSC
3.50%, 07/21/15b		100		104,500
5.00%, 07/21/20b		100		115,250
Qtel International Finance Ltd.
5.00%, 10/19/25b		200		221,500
Ras Laffan Liquefied Natural Gas Co. Ltd. II
5.30%, 09/30/20b		199		223,001
				664,251

3

Schedule of Investments (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS CORPORATE BOND FUND

January 31, 2013

Security	Principal (000s)		Value
RUSSIA — 5.11%
Gazprom OAO Via Gaz Capital SA
4.95%, 05/23/16b	$	259	$	276,970
7.29%, 08/16/37b		100		125,000
8.63%, 04/28/34b		50		69,975
Russian Agricultural Bank OJSC Via RSHB Capital SA
6.30%, 05/15/17b		100		111,000
Sberbank of Russia Via SB Capital SA
6.13%, 02/07/22b		200		228,258
Transneft OJSC Via TransCapitalInvest Ltd.
8.70%, 08/07/18b		100		127,775
Vnesheconombank Via VEB Finance PLC
5.45%, 11/22/17b		100		110,170
VTB Bank OJSC Via VTB Capital SA
6.25%, 06/30/35b		100		107,750
6.47%, 03/04/15b		180		192,690
				1,349,588
SOUTH AFRICA — 0.84%
Eskom Holdings Ltd.
5.75%, 01/26/21b		200		221,000
				221,000
SOUTH KOREA — 5.89%
Export-Import Bank of Korea (The)
4.38%, 09/15/21		200		218,583
5.88%, 01/14/15		100		108,925
Korea Development Bank
3.25%, 03/09/16		100		105,770
3.88%, 05/04/17		200		216,363
Korea Expressway Corp.
5.13%, 05/20/15b		50		54,020
Korea Finance Corp.
3.25%, 09/20/16		100		105,933
Korea Gas Corp.
4.25%, 11/02/20b		100		108,323
6.00%, 07/15/14b		100		106,793
Korea Hydro & Nuclear Power Co. Ltd.
6.25%, 06/17/14b		200		213,476
Korea National Oil Corp.
2.88%, 11/09/15b		200		208,458
National Agricultural Cooperative Federation
4.25%, 01/28/16b		100		107,259
				1,553,903
UKRAINE — 0.39%
Naftogaz of Ukraine
9.50%, 09/30/14		100		102,750
				102,750
UNITED ARAB EMIRATES — 5.65%
Abu Dhabi National Energy Co.
6.50%, 10/27/36b		100		127,500
DP World Ltd.
6.85%, 07/02/37b		100		115,000
Dubai Electricity & Water Authority
7.38%, 10/21/20b		100		122,000
8.50%, 04/22/15b		100		112,000

Security	Principal (000s)		Value
IPIC GMTN Ltd.
5.00%, 11/15/20b	$	250	$	282,188
MDC-GMTN BV
3.75%, 04/20/16b		200		210,636
National Bank of Abu Dhabi PJSC
4.25%, 03/25/15b		200		210,100
Taqa Abu Dhabi National Energy Co.
4.75%, 09/15/14b		300		313,500
				1,492,924
VENEZUELA — 3.97%
Petroleos de Venezuela SA
4.90%, 10/28/14		200		191,000
5.38%, 04/12/27b		100		72,000
8.50%, 11/02/17b		270		264,600
9.00%, 11/17/21b		310		294,500
12.75%, 02/17/22b		200		227,000
				1,049,100
TOTAL FOREIGN AGENCY OBLIGATIONS
(Cost: $13,132,780)				13,343,772
Security	Shares		Value
SHORT-TERM INVESTMENTS — 0.71%
MONEY MARKET FUNDS — 0.71%
BlackRock Cash Funds: Treasury, SL Agency Shares
0.03%d,e		188,829		188,829
				188,829
TOTAL SHORT-TERM INVESTMENTS
(Cost: $188,829)				188,829
TOTAL INVESTMENTS IN SECURITIES — 98.72%
(Cost: $25,619,129)				26,066,912
Other Assets, Less Liabilities — 1.28%				336,867
NET ASSETS — 100.00%			$	26,403,779

^a  Investments are denominated in U.S. dollars.

^b  This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

^c  Variable rate security. Rate shown is as of report date.

^d  Affiliated issuer. See Note 2.

^e  The rate quoted is the annualized seven-day yield of the fund at period end.

See accompanying notes to schedules of investments.

4

Schedule of Investments  (Unaudited)

iSHARES^® EMERGING MARKETS HIGH YIELD BOND FUND

January 31, 2013

Security	Principal (000s)		Value
CORPORATE BONDS & NOTESa — 24.68%
BRAZIL — 3.73%
Banco BTG Pactual SA
5.75%, 09/28/22b	$	700	$	710,500
Fibria Overseas Finance Ltd.
6.75%, 03/03/21 (Call 03/03/16)b		1,050		1,155,000
7.50%, 05/04/20 (Call 05/04/15)b		1,100		1,210,000
JBS USA LLC
7.25%, 06/01/21 (Call 06/01/15)b		50		51,937
8.25%, 02/01/20 (Call 02/01/15)b		1,480		1,591,000
11.63%, 05/01/14		600		668,250
OGX Austria GmbH
8.38%, 04/01/22 (Call 04/01/17)b		200		179,500
8.50%, 06/01/18 (Call 06/01/15)b		3,060		2,853,450
				8,419,637
CHINA — 5.21%
Agile Property Holdings Ltd.
8.88%, 04/28/17 (Call 04/28/14)b		1,600		1,680,000
CITIC Pacific Ltd.
6.63%, 04/15/21b		1,500		1,549,678
6.88%, 01/21/18b		1,000		1,054,608
CITIC Resources Finance 2007 Ltd.
6.75%, 05/15/14b		1,000		1,042,500
Country Garden Holdings Co. Ltd.
11.25%, 04/22/17 (Call 04/22/14)b		1,600		1,780,000
Evergrande Real Estate Group Ltd.
13.00%, 01/27/15b		1,450		1,555,125
Kaisa Group Holdings Ltd.
10.25%, 01/08/20b		600		610,879
13.50%, 04/28/15b		400		432,000
Longfor Properties Co. Ltd.
9.50%, 04/07/16 (Call 04/07/14)b		500		541,250
Shimao Property Holdings Ltd.
9.65%, 08/03/17 (Call 08/03/14)b		500		538,725
SOHO China Ltd.
5.75%, 11/07/17 (Call 11/07/15)b		1,000		982,880
				11,767,645
INDIA — 1.13%
ICICI Bank Ltd.
6.38%, 04/30/22 (Call 04/30/17)b,c		654		676,890
Vedanta Resources PLC
8.25%, 06/07/21b		600		690,000
9.50%, 07/18/18b		1,000		1,182,500
				2,549,390
JAMAICA — 1.57%
Digicel Group Ltd.
8.25%, 09/30/20 (Call 09/30/16)b		1,500		1,672,500
10.50%, 04/15/18 (Call 04/15/14)b		800		892,000

Security	Principal (000s)		Value
Digicel Ltd.
8.25%, 09/01/17 (Call 09/01/13)b	$	930	$	985,800
				3,550,300
KAZAKHSTAN — 0.39%
Halyk Savings Bank of Kazakhstan JSC
7.25%, 05/03/17b		200		221,500
7.25%, 01/28/21b		600		666,000
				887,500
MEXICO — 3.97%
Cemex Espana SA (Luxembourg)
9.25%, 05/12/20 (Call 05/12/15)b		1,750		1,881,250
9.88%, 04/30/19 (Call 04/30/16)b		1,150		1,290,875
Cemex Finance LLC
9.38%, 10/12/22 (Call 10/12/17)b		700		791,000
9.50%, 12/14/16 (Call 12/14/13)b		1,200		1,281,000
Cemex SAB de CV
9.00%, 01/11/18 (Call 01/11/15)b		1,397		1,508,760
NII Capital Corp.
7.63%, 04/01/21 (Call 04/01/16)		750		588,750
8.88%, 12/15/19 (Call 12/15/14)		1,200		1,008,000
10.00%, 08/15/16 (Call 08/15/13)		620		599,850
				8,949,485
RUSSIA — 6.09%
Alfa Bank OJSC Via Alfa Bond Issuance PLC
7.75%, 04/28/21b		1,250		1,441,250
7.88%, 09/25/17b		1,400		1,585,500
ALROSA Finance SA
7.75%, 11/03/20b		1,000		1,175,000
8.88%, 11/17/14b		416		461,178
Evraz Group SA
8.25%, 11/10/15b		400		441,000
9.50%, 04/24/18b		1,700		1,968,617
Home Credit & Finance Bank LLC
9.38%, 04/24/20 (Call 04/24/18)b,c		500		538,100
Severstal OAO Via Steel Capital SA
6.70%, 10/25/17b		1,500		1,647,000
Vimpel Communications Via VIP Finance Ireland Ltd. OJSC
7.75%, 02/02/21b		200		229,000
9.13%, 04/30/18b		1,850		2,196,875
VimpelCom Holdings BV
6.25%, 03/01/17b		600		642,150
7.50%, 03/01/22b		1,250		1,425,000
				13,750,670
SOUTH AFRICA — 0.26%
Gold Fields Orogen Holding BVI Ltd.
4.88%, 10/07/20b		600		584,605
				584,605
SOUTH KOREA — 0.43%
Woori Bank Co. Ltd.
6.21%, 05/02/37 (Call 05/02/17)b,c		900		967,500
				967,500

5

Schedule of Investments (Unaudited)(Continued)

iSHARES^® EMERGING MARKETS HIGH YIELD BOND FUND

January 31, 2013

Security	Principal (000s)		Value
TURKEY — 0.95%
Turkiye Is Bankasi
6.00%, 10/24/22b	$	700	$	735,000
Turkiye Vakiflar Bankasi Tao
6.00%, 11/01/22b		600		622,500
Yapi ve Kredi Bankasi AS
5.50%, 12/06/22b		800		796,000
				2,153,500
UKRAINE — 0.47%
Metinvest BV
10.25%, 05/20/15b		1,000		1,057,500
				1,057,500
UNITED ARAB EMIRATES — 0.48%
Atlantic Finance Ltd.
10.75%, 05/27/14bd		1,000		1,087,500
				1,087,500
TOTAL CORPORATE BONDS & NOTES
(Cost: $54,354,058)				55,725,232
FOREIGN AGENCY OBLIGATIONSa — 10.41%
PHILIPPINES — 1.11%
Power Sector Assets & Liabilities Management Corp.
7.25%, 05/27/19b		460		584,200
7.39%, 12/02/24b		1,400		1,914,500
				2,498,700
TURKEY — 0.58%
Export Credit Bank of Turkey
5.38%, 11/04/16b		1,000		1,077,500
5.88%, 04/24/19b		200		223,500
				1,301,000
UKRAINE — 1.11%
Naftogaz of Ukraine
9.50%, 09/30/14		1,511		1,552,552
Ukreximbank Via Biz Finance PLC
8.38%, 04/27/15b		960		967,200
				2,519,752
VENEZUELA — 7.61%
Petroleos de Venezuela SA
4.90%, 10/28/14		2,200		2,101,000
5.00%, 10/28/15		3,500		3,193,750
5.25%, 04/12/17b		100		86,750
5.38%, 04/12/27b		2,270		1,634,400
5.50%, 04/12/37b		820		576,050
8.50%, 11/02/17b		3,680		3,606,400
9.00%, 11/17/21b		2,750		2,612,500

Security	Principal (000s)		Value
12.75%, 02/17/22b	$	2,970	$	3,370,950
				17,181,800
TOTAL FOREIGN AGENCY OBLIGATIONS
(Cost: $22,616,206)				23,501,252
FOREIGN GOVERNMENT OBLIGATIONSa — 62.46%
ARGENTINA — 1.91%
Argentina (Republic of)
2.50%, 12/31/38d		4,500		1,496,250
8.28%, 12/31/33		3,439		2,150,887
8.75%, 06/02/17		850		673,625
				4,320,762
BELARUS — 0.75%
Belarus (Republic of)
8.75%, 08/03/15b		800		842,000
8.95%, 01/26/18b		800		857,000
				1,699,000
COSTA RICA — 0.36%
Costa Rica (Republic of)
4.25%, 01/26/23b		800		820,000
				820,000
CROATIA — 2.51%
Croatia (Republic of)
6.25%, 04/27/17b		1,200		1,320,000
6.38%, 03/24/21b		1,300		1,469,000
6.75%, 11/05/19b		2,500		2,867,500
				5,656,500
DOMINICAN REPUBLIC — 0.89%
Dominican Republic
7.50%, 05/06/21b		700		798,000
9.04%, 01/23/18b		1,060		1,198,012
				1,996,012
ECUADOR — 0.09%
Ecuador (Republic of)
9.38%, 12/15/15b		200		206,500
				206,500
EGYPT — 0.55%
Egypt (Arab Republic of)
5.75%, 04/29/20b		1,100		1,045,000
6.88%, 04/30/40b		200		188,000
				1,233,000
EL SALVADOR — 1.37%
El Salvador (Republic of)
7.63%, 02/01/41b		900		1,059,750
7.65%, 06/15/35b		985		1,159,838
7.75%, 01/24/23b		720		878,400
				3,097,988

6

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS HIGH YIELD BOND FUND

January 31, 2013

Security	Principal (000s)		Value
GUATEMALA — 0.30%
Guatemala (Republic of)
5.75%, 06/06/22b	$	600	$	685,500
				685,500
HUNGARY — 3.21%
Hungary (Republic of)
4.75%, 02/03/15		2,095		2,147,375
6.25%, 01/29/20		1,300		1,426,750
6.38%, 03/29/21		2,000		2,180,000
7.63%, 03/29/41		1,282		1,496,735
				7,250,860
JAMAICA — 0.55%
Jamaica (Government of)
8.00%, 06/24/19		1,200		1,152,000
8.00%, 03/15/39		100		88,250
				1,240,250
LEBANON — 4.24%
Lebanon (Republic of)
4.75%, 11/02/16b		910		919,100
5.15%, 11/12/18		2,400		2,412,000
6.38%, 03/09/20		900		945,000
7.38%, 04/14/14b		100		106,000
8.25%, 04/12/21b		1,000		1,160,000
8.50%, 01/19/16b		650		728,000
9.00%, 05/02/14		500		541,250
9.00%, 03/20/17		2,380		2,748,900
				9,560,250
MOROCCO — 0.63%
Morocco (Republic of)
4.25%, 12/11/22b		800		816,000
5.50%, 12/11/42b		600		613,500
				1,429,500
PAKISTAN — 0.36%
Pakistan (Islamic Republic of)
6.88%, 06/01/17b		800		718,000
7.13%, 03/31/16b		100		92,250
				810,250
PHILIPPINES — 9.15%
Philippines (Republic of the)
4.00%, 01/15/21		1,420		1,565,550
5.00%, 01/13/37		860		987,925
5.50%, 03/30/26		200		245,250
6.38%, 01/15/32		1,600		2,078,000
6.38%, 10/23/34		1,900		2,536,500
6.50%, 01/20/20		2,000		2,525,000
7.75%, 01/14/31		1,900		2,764,500
8.38%, 06/17/19		1,200		1,630,500

Security	Principal (000s)		Value
9.38%, 01/18/17	$	50	$	65,438
9.50%, 02/02/30		1,573		2,597,416
9.88%, 01/15/19		1,400		1,989,750
10.63%, 03/16/25		980		1,666,000
				20,651,829
ROMANIA — 1.07%
Romania (Republic of)
6.75%, 02/07/22b		2,000		2,407,960
				2,407,960
SERBIA — 1.50%
Serbia (Republic of)
6.75%, 11/01/24 (Call 05/01/13)b,d		944		944,000
7.25%, 09/28/21b		2,100		2,441,250
				3,385,250
SRI LANKA — 1.27%
Sri Lanka (Democratic Socialist Republic of)
6.25%, 10/04/20b		1,350		1,458,000
6.25%, 07/27/21b		1,301		1,414,516
				2,872,516
TURKEY — 15.92%
Turkey (Republic of)
3.25%, 03/23/23		1,000		959,800
5.13%, 03/25/22		642		723,855
5.63%, 03/30/21		1,400		1,630,888
6.00%, 01/14/41		3,000		3,570,000
6.25%, 09/26/22		2,800		3,416,000
6.75%, 04/03/18		1,250		1,490,625
6.75%, 05/30/40		2,330		3,031,796
6.88%, 03/17/36		1,920		2,486,400
7.00%, 09/26/16		1,600		1,861,600
7.00%, 03/11/19		1,100		1,347,500
7.00%, 06/05/20		2,750		3,451,250
7.25%, 03/15/15		2,100		2,335,200
7.25%, 03/05/38		810		1,105,650
7.38%, 02/05/25		2,520		3,316,320
7.50%, 07/14/17		1,680		2,030,280
7.50%, 11/07/19		750		952,500
8.00%, 02/14/34		543		785,992
11.88%, 01/15/30		760		1,444,000
				35,939,656
UKRAINE — 2.71%
Ukraine (Government of)
6.25%, 06/17/16b		1,200		1,200,000
6.58%, 11/21/16b		600		606,000
6.75%, 11/14/17b		1,100		1,108,250
6.88%, 09/23/15b		600		604,500
7.75%, 09/23/20b		1,477		1,536,080
7.95%, 02/23/21b		1,000		1,060,000
				6,114,830

7

Schedule of Investments (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS HIGH YIELD BOND FUND

January 31, 2013

Security	Principal (000s)		Value
VENEZUELA — 12.24%
Venezuela (Bolivarian Republic of)
5.75%, 02/26/16b	$	885	$	856,238
7.00%, 12/01/18b		2,800		2,683,800
7.65%, 04/21/25		1,650		1,501,500
7.75%, 10/13/19b		1,850		1,788,025
8.25%, 10/13/24b		1,550		1,464,750
8.50%, 10/08/14		790		809,750
9.00%, 05/07/23b		3,280		3,255,400
9.25%, 09/15/27		2,820		2,869,350
9.25%, 05/07/28b		3,000		2,985,000
9.38%, 01/13/34		1,010		1,015,050
11.75%, 10/21/26b		2,500		2,833,750
11.95%, 08/05/31b		2,770		3,178,575
12.75%, 08/23/22b		2,000		2,400,000
				27,641,188
VIETNAM — 0.88%
Vietnam (Socialist Republic of)
6.75%, 01/29/20b		1,640		1,886,000
6.88%, 01/15/16b		100		110,000
				1,996,000
TOTAL FOREIGN GOVERNMENT OBLIGATIONS
(Cost: $139,699,335)				141,015,601
Security	Shares		Value
SHORT-TERM INVESTMENTS — 0.56%
MONEY MARKET FUNDS — 0.56%
BlackRock Cash Funds: Treasury, SL Agency Shares
0.03%e,f		1,258,766		1,258,766
				1,258,766
TOTAL SHORT-TERM INVESTMENTS
(Cost: $1,258,766)				1,258,766
TOTAL INVESTMENTS IN SECURITIES — 98.11%
(Cost: $217,928,365)				221,500,851
Other Assets, Less Liabilities — 1.89%				4,270,777
NET ASSETS — 100.00%			$	225,771,628

^a  Investments are denominated in U.S. dollars.

^b  This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

^c  Variable rate security. Rate shown is as of report date.

^d  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.

^e  Affiliated issuer. See Note 2.

^f  The rate quoted is the annualized seven-day yield of the fund at period end.

See accompanying notes to schedules of investments.

8

Schedule of Investments (Unaudited)

iSHARES^® EMERGING MARKETS LOCAL CURRENCY BOND FUND

January 31, 2013

Security		Principal (000s)		Value
FOREIGN AGENCY OBLIGATIONS — 0.68%
RUSSIA — 0.68%
Russian Agricultural Bank OJSC
7.50%, 03/25/13a	RUB		85,000	$	2,827,646
					2,827,646
TOTAL FOREIGN AGENCY OBLIGATIONS
(Cost: $2,694,302)					2,827,646
FOREIGN GOVERNMENT OBLIGATIONS — 97.39%
BRAZIL — 12.28%
Brazil (Federative Republic of)
0.00%, 01/01/14	BRL		28,249		13,319,796
0.00%, 04/01/14	BRL		20,675		9,566,858
0.00%, 01/01/15	BRL		34,052		14,763,593
9.76%, 01/01/21	BRL		25,562		13,262,631
					50,912,878
CHILE — 0.14%
Chile (Republic of)
5.50%, 08/05/20	CLP		237,000		560,854
					560,854
COLOMBIA — 4.31%
Colombia (Republic of)
7.50%, 08/26/26	COP		5,893,800		3,934,113
7.75%, 04/14/21	COP		200,000		140,731
9.25%, 05/14/14	COP		18,940,000		11,309,087
9.85%, 06/28/27	COP		2,802,000		2,424,556
12.00%, 10/22/15	COP		100,000		67,662
					17,876,149
CZECH REPUBLIC — 4.42%
Czech (Republic of)
2.75%, 03/31/14	CZK		3,700		201,009
2.80%, 09/16/13	CZK		101,610		5,452,788
4.60%, 08/18/18	CZK		122,070		7,563,841
5.70%, 05/25/24	CZK		71,960		5,095,035
					18,312,673
EGYPT — 2.54%
Egypt (Arab Republic of)
16.15%, 01/17/15	EGP		11,200		1,712,423
16.15%, 07/03/15	EGP		33,210		5,099,945
16.55%, 04/10/17	EGP		10,000		1,548,681
16.58%, 08/14/17	EGP		14,000		2,166,568
					10,527,617

Security		Principal (000s)		Value
HUNGARY — 4.39%
Hungary (Republic of)
5.50%, 02/12/16	HUF		2,585,560	$	12,011,347
6.00%, 11/24/23	HUF		306,200		1,371,113
6.50%, 06/24/19	HUF		78,730		375,312
6.75%, 02/12/13	HUF		422,750		1,960,828
7.00%, 06/24/22	HUF		230,000		1,116,127
7.75%, 08/24/15	HUF		279,000		1,364,338
					18,199,065
INDONESIA — 4.46%
Indonesia (Republic of)
6.63%, 05/15/33	IDR		6,000,000		637,041
9.50%, 06/15/15	IDR		3,096,000		352,855
9.50%, 07/15/31	IDR		76,873,000		10,507,371
10.00%, 07/15/17	IDR		49,028,000		6,060,898
10.00%, 09/15/24	IDR		3,168,000		434,715
11.00%, 09/15/25	IDR		3,420,000		503,144
					18,496,024
ISRAEL — 4.37%
Israel (State of)
3.50%, 09/30/13	ILS		21,601		5,879,081
6.00%, 02/28/19	ILS		39,434		12,252,162
					18,131,243
MALAYSIA — 4.32%
Malaysia (Federation of)
3.49%, 03/31/20	MYR		2,300		741,796
3.70%, 02/25/13	MYR		9,180		2,955,786
3.84%, 08/12/15	MYR		4,060		1,329,608
5.73%, 07/30/19	MYR		35,244		12,869,675
					17,896,865
MEXICO — 7.40%
United Mexican States
6.25%, 06/16/16	MXN		20,756		1,713,649
6.50%, 06/10/21	MXN		12,887		1,113,891
6.50%, 06/09/22	MXN		82,427		7,184,478
7.25%, 12/15/16	MXN		106,910		9,176,503
7.50%, 06/03/27	MXN		7,850		735,629
7.75%, 11/13/42	MXN		45,103		4,314,375
8.50%, 11/18/38	MXN		17,930		1,848,012
9.00%, 06/20/13	MXN		57,407		4,592,443
					30,678,980
PERU — 1.23%
Peru (Republic of)
8.20%, 08/12/26	PEN		9,393		5,109,981
					5,109,981
PHILIPPINES — 4.58%
Philippines (Republic of the)
4.95%, 01/15/21	PHP		73,000		2,067,900
6.25%, 01/14/36	PHP		27,000		842,817

9

Schedule of Investments (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS LOCAL CURRENCY BOND FUND

January 31, 2013

Security	Principal (000s)			Value
7.00%, 01/27/16		PHP	271,436	$	7,398,257
8.13%, 12/16/35		PHP	251,936		8,664,356
					18,973,330
POLAND — 4.39%
Poland (Republic of)
0.00%, 01/25/14		PLN	2,968		929,099
5.25%, 04/25/13		PLN	4,503		1,459,507
5.75%, 04/25/14		PLN	20,409		6,782,678
5.75%, 09/23/22		PLN	24,251		9,016,935
					18,188,219
RUSSIA — 3.76%
Russian Federation (The)
7.85%, 03/10/18a		RUB	430,000		15,575,999
					15,575,999
SOUTH AFRICA — 4.45%
South Africa (Republic of)
6.25%, 03/31/36		ZAR	25,112		2,246,746
6.50%, 02/28/41		ZAR	54,115		4,923,066
8.25%, 09/15/17		ZAR	91,529		11,259,938
					18,429,750
SOUTH KOREA — 21.52%
Korea (Republic of)
3.00%, 12/10/13		KRW	21,013,800		19,339,334
3.75%, 06/10/13		KRW	17,353,440		15,990,743
4.00%, 03/10/16		KRW	11,531,450		10,964,316
4.00%, 12/10/31		KRW	2,384,120		2,436,239
4.75%, 09/17/13		KRW	1,396,960		1,298,409
4.75%, 12/10/30		KRW	8,328,320		9,251,726
5.00%, 06/10/20		KRW	5,600,000		5,798,482
5.25%, 09/10/15		KRW	11,702,460		11,411,275
5.50%, 09/10/17		KRW	481,600		491,266
5.50%, 12/10/29		KRW	5,259,930		6,269,119
5.75%, 09/10/13		KRW	600,300		560,952
5.75%, 09/10/18		KRW	1,800,000		1,890,329
Korea Monetary Stabilization Bond
2.82%, 08/02/14		KRW	3,780,000		3,474,090
					89,176,280
THAILAND — 4.46%
Thailand (Kingdom of)
3.13%, 12/11/15		THB	246,082		8,282,202
3.63%, 05/22/15		THB	72,531		2,468,243
5.67%, 03/13/28		THB	148,660		5,885,630
6.15%, 07/07/26		THB	45,029		1,859,704
					18,495,779
TURKEY — 4.37%
Turkey (Republic of)
8.50%, 09/14/22		TRY	800		510,457
9.00%, 01/27/16		TRY	23,330		14,296,936
10.00%, 04/10/13		TRY	4,701		2,694,303

Security	Principal (000s)				Value
16.00%, 08/28/13		TRY		1,000	$	602,012
						18,103,708
Total FOREIGN GOVERNMENT OBLIGATIONS
(Cost: $394,157,940)						403,645,394
Security			Shares		Value
SHORT-TERM INVESTMENTS — 0.06%
MONEY MARKET FUNDS — 0.06%
BlackRock Cash Funds: Treasury, SL Agency Shares
0.03%b,c				251,388		251,388
						251,388
TOTAL SHORT-TERM INVESTMENTS
(Cost: $251,388)						251,388
TOTAL INVESTMENTS IN SECURITIES — 98.13%
(Cost: $397,103,630)						406,724,428
Other Assets, Less Liabilities — 1.87%						7,758,007
NET ASSETS — 100.00%					$	414,482,435

BRL	—  Brazilian Real
CLP	—  Chilean Peso
COP	—  Colombian Peso
CZK	—  Czech Koruna
EGP	—  Egyptian Pound
HUF	—  Hungarian Forint
IDR	—  Indonesian Rupiah
ILS	—  Israeli Shekel
KRW	—  South Korean Won
MXN	—  Mexican Peso
MYR	—  Malaysian Ringgit
PEN	—  Peru Nuevo
PHP	—  Philippine Peso
PLN	—  Polish Zloty
RUB	—  New Russian Ruble
THB	—  Thai Baht
TRY	—  Turkish Lira
ZAR	—  South African Rand

^a  This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

^b  Affiliated issuer. See Note 2.

^c  The rate quoted is the annualized seven-day yield of the fund at period end.

See accompanying notes to schedules of investments.

10

Schedule of Investments (Unaudited)

iSHARES^® GLOBAL EX USD HIGH YIELD CORPORATE BOND FUND

January 31, 2013

Security		Principal (000s)		Value
CORPORATE BONDS & NOTES — 92.18%
AUSTRALIA — 0.37%
Santos Finance Ltd.
8.25%, 09/22/70 (Call 09/22/17)a	EUR		100	$	142,968
					142,968
CANADA — 3.47%
Air Canada
10.13%, 08/01/15 (Call 03/04/13)b	CAD		150		159,516
Armtec Holdings Ltd.
8.88%, 09/22/17 (Call 09/22/13)	CAD		13		10,022
Athabasca Oil Corp.
7.50%, 11/19/17 (Call 11/19/14)c	CAD		100		101,116
Bombardier Inc.
6.13%, 05/15/21c	EUR		100		141,218
Cascades Inc.
7.75%, 12/15/16 (Call 12/15/13)c	CAD		50		52,560
Connacher Oil and Gas Ltd.
8.75%, 08/01/18 (Call 08/01/15)b	CAD		100		63,200
Gateway Casinos & Entertainment Ltd.
8.88%, 11/15/17 (Call 11/15/13)b	CAD		100		105,797
Great Canadian Gaming Corp.
6.63%, 07/25/22 (Call 07/25/17)b	CAD		25		26,093
Mattamy Group Corp.
6.88%, 11/15/20 (Call 11/15/15)b	CAD		50		50,183
Paramount Resources Ltd.
8.25%, 12/13/17 (Call 12/13/13)	CAD		150		154,947
Postmedia Network Inc.
8.25%, 08/16/17 (Call 08/16/15)b	CAD		50		51,188
Quebecor Media Inc.
6.63%, 01/15/23b	CAD		100		103,869
7.38%, 01/15/21 (Call 01/15/16)b	CAD		150		164,439
Trident Exploration Corp.
8.25%, 04/13/18 (Call 04/13/15)	CAD		50		47,206
Vermilion Energy Inc.
6.50%, 02/10/16 (Call 02/10/14)	CAD		100		107,624
					1,338,978
FINLAND — 1.82%
Nokia OYJ
5.50%, 02/04/14c	EUR		200		279,668
6.75%, 02/04/19	EUR		100		142,815
Stora Enso OYJ
5.00%, 03/19/18c	EUR		100		139,337
5.50%, 03/07/19c	EUR		100		140,287
					702,107
FRANCE — 13.11%
Alcatel-Lucent
8.50%, 01/15/16c	EUR		100		143,658
Cegedim SA
7.00%, 07/27/15	EUR		50		70,500
Ciments Francais SA
4.75%, 04/04/17	EUR		100		140,108

Security		Principal (000s)		Value
CMA CGM SA
8.88%, 04/15/19 (Call 04/15/15)c	EUR		100	$	118,026
Crown European Holdings SA
7.13%, 08/15/18 (Call 08/15/14)c	EUR		100		146,260
Europcar Groupe SA
9.38%, 04/15/18c	EUR		100		123,863
Faurecia SA
9.38%, 12/15/16c	EUR		100		151,350
Financiere Atalian SA
7.25%, 01/15/20 (Call 01/15/17)c	EUR		100		134,654
Groupama SA
7.88%, 10/27/39 (Call 10/27/19)a	EUR		150		178,159
Labco SAS
8.50%, 01/15/18 (Call 01/15/14)c	EUR		125		178,159
Lafarge SA
4.25%, 03/23/16	EUR		150		209,555
5.38%, 06/26/17c	EUR		550		797,585
Nexans SA
5.75%, 05/02/17	EUR		100		143,545
PagesJaunes Finance & Co.
8.88%, 06/01/18 (Call 06/01/14)c	EUR		100		126,577
Peugeot SA
5.63%, 06/29/15	EUR		150		206,868
5.63%, 07/11/17	EUR		300		402,672
Renault SA
4.63%, 09/18/17c	EUR		150		206,852
5.63%, 06/30/15	EUR		500		719,805
Rexel SA
8.25%, 12/15/16 (Call 12/15/13)	EUR		150		220,075
Wendel SA
4.38%, 08/09/17	EUR		150		207,173
4.88%, 09/21/15	EUR		100		140,406
4.88%, 05/26/16	EUR		100		141,961
6.75%, 04/20/18	EUR		100		151,407
					5,059,218
GERMANY — 14.17%
ATU Auto-Teile-Unger Handels GmbH & Co. KG
11.00%, 05/15/14c	EUR		100		129,632
Beverage Packaging Holdings (Luxembourg) II SA
9.50%, 06/15/17 (Call 03/01/13)c	EUR		150		208,870
Brenntag Finance BV
5.50%, 07/19/18c	EUR		100		151,738
Conti Gummi Finance BV
6.50%, 01/15/16c	EUR		200		286,354
Deutsche Lufthansa AG
6.50%, 07/07/16	EUR		100		154,009
6.75%, 03/24/14	EUR		150		215,665
Franz Haniel & Cie GmbH
5.88%, 02/01/17	EUR		250		383,720
6.25%, 02/08/18	EUR		100		151,689
Hapag-Lloyd AG
9.00%, 10/15/15 (Call 10/15/13)c	EUR		100		143,036
Heckler & Koch GmbH
9.50%, 05/15/18 (Call 05/15/14)c	EUR		100		119,338
Heidelberger Druckmaschinen AG
9.25%, 04/15/18 (Call 04/15/14)c	EUR		50		62,044
Kabel Deutschland Vertrieb und Service GmbH
6.50%, 06/29/18 (Call 06/30/14)c	EUR		200		286,751
Kinove German Bondco GmbH
10.00%, 06/15/18 (Call 06/15/14)c	EUR		90		135,044

11

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL EX USD HIGH YIELD CORPORATE BOND FUND

January 31, 2013

Security	Principal (000s)			Value
KM Holdings
8.75%, 12/15/20		EUR	100	$	142,527
Styrolution Group GmbH
7.63%, 05/15/16 (Call 05/15/13)c		EUR	125		172,220
Techem Energy Metering Service GmbH & Co. KG
7.88%, 10/01/20 (Call 10/01/16)c		EUR	100		146,599
ThyssenKrupp AG
4.38%, 03/18/15		EUR	150		211,017
4.38%, 02/28/17		EUR	250		350,837
ThyssenKrupp Finance Nederland BV
8.50%, 02/25/16		EUR	200		311,923
Unitymedia Hessen GmbH & Co. KG / Unitymedia NRW GmbH
5.13%, 01/21/23 (Call 01/21/18)c		EUR	100		132,584
5.50%, 09/15/22 (Call 09/15/17)c		EUR	150		204,373
Unitymedia Hessen GmbH & Co. KG/ Unitymedia NRW GmbH
5.75%, 01/15/23 (Call 01/15/18)c		EUR	100		136,894
7.50%, 03/15/19 (Call 03/15/15)c		EUR	100		148,465
8.13%, 12/01/17 (Call 03/01/13)c		EUR	235		342,961
Unitymedia KabelBW GmbH
9.50%, 03/15/21 (Call 03/15/16)c		EUR	100		155,115
9.63%, 12/01/19 (Call 12/01/14)c		EUR	100		149,823
UPCB Finance II Ltd.
6.38%, 07/01/20 (Call 07/01/15)c		EUR	150		215,012
UPCB Finance Ltd.
7.63%, 01/15/20 (Call 01/15/15)c		EUR	150		219,390
					5,467,630
GREECE — 1.23%
OTE PLC
7.25%, 02/12/15c,d		EUR	350		475,882
					475,882
IRELAND — 2.99%
Allied Irish Banks PLC
5.63%, 11/12/14c		EUR	100		137,437
Ardagh Glass Finance PLC
7.13%, 06/15/17 (Call 06/15/13)c		EUR	150		205,985
Ardagh Packaging Finance PLC
7.38%, 10/15/17 (Call 10/15/14)c		EUR	150		218,117
9.25%, 10/15/20 (Call 10/15/15)c		EUR	100		145,807
Governor & Co. of the Bank of Ireland (The)
10.00%, 12/19/22c		EUR	100		147,957
Smurfit Kappa Acquisitions
7.75%, 11/15/19 (Call 11/15/14)c		EUR	200		297,270
					1,152,573
ITALY — 6.93%
Banca Monte dei Paschi di Siena SpA
4.88%, 05/31/16		EUR	150		178,159
5.00%, 04/21/20c		EUR	100		120,324
Banca Popolare di Milano Scarl
7.13%, 03/01/21c		EUR	100		137,118
Banca Popolare di Vicenza
6.75%, 02/27/15c		EUR	150		213,779
Banco Popolare
6.00%, 11/05/20c		EUR	250		336,126
Buzzi Unicem SpA
6.25%, 09/28/18c		EUR	100		145,072
Cerved Technologies SpA
6.38%, 01/15/20 (Call 01/15/16)c		EUR	100		134,722

Security	Principal (000s)			Value
Fiat Finance & Trade SA
6.88%, 02/13/15		EUR	150	$	213,179
Italcementi Finance SA
6.63%, 03/19/20d		EUR	150		205,137
Lottomatica Group SpA
8.25%, 03/31/66 (Call 03/31/16)a,c		EUR	150		209,973
Unipol Gruppo Finanziario SpA
5.00%, 01/11/17c		EUR	150		205,911
Wind Acquisition Finance SA
11.75%, 07/15/17 (Call 07/15/13)c		EUR	400		575,311
					2,674,811
JAPAN — 0.54%
Tokyo Electric Power Co. Inc.
4.50%, 03/24/14		EUR	150		208,191
					208,191
LUXEMBOURG — 10.81%
Capsugel FinanceCo SCA
9.88%, 08/01/19 (Call 08/01/14)c		EUR	100		152,368
Clariant Finance Luxembourg SA
5.63%, 01/24/17		EUR	150		224,013
Codere Finance Luxembourg SA
8.25%, 06/15/15 (Call 06/15/13)c		EUR	100		110,386
ConvaTec Healthcare E SA
7.38%, 12/15/17 (Call 12/15/13)c		EUR	150		218,117
Fiat Finance & Trade SA
6.38%, 04/01/16c		EUR	550		767,573
Fiat Industrial Finance Europe SA
5.25%, 03/11/15c		EUR	300		424,527
6.25%, 03/09/18c		EUR	150		225,121
FMC Finance VIII SA
6.50%, 09/15/18c		EUR	250		397,039
Ineos Group Holdings SA
7.88%, 02/15/16 (Call 03/01/13)c		EUR	250		339,085
KION Finance SA
7.88%, 04/15/18 (Call 04/15/14)c		EUR	100		143,545
Numericable Finance & Co.
12.38%, 02/15/19 (Call 02/15/16)c		EUR	100		156,780
Ontex IV SA
7.50%, 04/15/18 (Call 04/15/14)c		EUR	100		140,151
Spie BondCo 3 SCA
11.00%, 08/15/19 (Call 08/15/15)c		EUR	100		149,879
Telenet Finance III Luxembourg SCA
6.63%, 02/15/21 (Call 02/15/16)c		EUR	100		144,846
Telenet Finance V Luxembourg SCA
6.75%, 08/15/24 (Call 08/15/18)c		EUR	100		144,789
Wind Acquisition Finance SA
7.38%, 02/15/18 (Call 11/15/13)c		EUR	100		140,898
Xefin Lux SCA
8.00%, 06/01/18 (Call 06/01/14)c		EUR	100		146,260
Zinc Capital SA
8.88%, 05/15/18 (Call 05/15/14)c		EUR	100		144,733
					4,170,110
NETHERLANDS — 10.37%
Conti-Gummi Finance BV
7.50%, 09/15/17 (Call 09/15/13)c		EUR	300		433,130
EDP Finance BV
5.75%, 09/21/17c		EUR	250		357,991

12

Schedule of Investments (Unaudited) (Continued)

iSHARES^® GLOBAL EX USD HIGH YIELD CORPORATE BOND FUND

January 31, 2013

Security	Principal (000s)			Value
Fresenius Finance BV
2.88%, 07/15/20c		EUR	50	$	67,106
4.25%, 04/15/19c		EUR	150		217,608
Goodyear Dunlop Tires Europe BV
6.75%, 04/15/19 (Call 04/15/15)c		EUR	100		145,920
HeidelbergCement Finance BV
5.63%, 01/04/18		EUR	150		218,127
8.00%, 01/31/17c		EUR	500		781,658
OI European Group BV
6.75%, 09/15/20c		EUR	100		152,707
Phoenix PIB Finance BV
9.63%, 07/15/14c		EUR	125		186,925
Portugal Telecom International Finance BV
5.88%, 04/17/18c		EUR	140		196,794
Refresco Group BV
7.38%, 05/15/18 (Call 05/15/14)c		EUR	100		141,283
Schaeffler Finance BV
7.75%, 02/15/17c		EUR	250		381,769
SNS Bank
6.25%, 10/26/20		EUR	50		52,684
UPC Holding BV
8.38%, 08/15/20 (Call 08/15/15)c		EUR	200		298,741
Ziggo Bond Co. BV
8.00%, 05/15/18 (Call 05/15/14)c		EUR	250		367,063
					3,999,506
NORWAY — 0.25%
Norske Skogindustrier ASA
7.00%, 06/26/17		EUR	100		94,566
					94,566
PORTUGAL — 6.95%
Banco Comercial Portugues SA
5.63%, 04/23/14		EUR	200		276,030
Banco Espirito Santo SA
4.75%, 01/15/18c		EUR	100		134,061
5.63%, 06/05/14		EUR	400		553,819
5.88%, 11/09/15c		EUR	100		140,409
Brisa Concessao Rodoviaria SA
4.50%, 12/05/16		EUR	100		134,892
EDP Finance BV
3.25%, 03/16/15		EUR	150		203,512
3.75%, 06/22/15		EUR	150		205,799
5.88%, 02/01/16c		EUR	250		359,684
Espirito Santo Financial Group SA
6.88%, 10/21/19		EUR	100		133,195
Portugal Telecom International Finance BV
4.38%, 03/24/17		EUR	250		339,428
5.00%, 11/04/19		EUR	150		201,197
					2,682,026
SPAIN — 5.84%
Abengoa SA
9.63%, 02/25/15c		EUR	200		284,484
Banco de Sabadell SA
6.25%, 04/26/20		EUR	50		64,137
Bankia SA
4.38%, 02/14/17		EUR	100		130,819
BPE Financiaciones SA
4.00%, 07/17/15		EUR	200		269,797

Security	Principal (000s)			Value
Campofrio Food Group SA
8.25%, 10/31/16 (Call 10/31/13)c		EUR	125	$	177,650
Cirsa Funding Luxembourg SA
8.75%, 05/15/18 (Call 05/15/14)c		EUR	150		200,075
Inaer Aviation Finance Ltd.
9.50%, 08/01/17 (Call 08/01/13)c		EUR	100		134,849
Mapfre SA
5.13%, 11/16/15		EUR	200		281,377
5.13%, 11/16/15		EUR	100		140,689
Nara Cable Funding Ltd.
8.88%, 12/01/18 (Call 12/01/13)c		EUR	200		278,538
Obrascon Huarte Lain SA
7.38%, 04/28/15		EUR	100		144,733
8.75%, 03/15/18 (Call 03/15/15)		EUR	100		147,506
					2,254,654
SWEDEN — 0.57%
Verisure Holding AB
8.75%, 09/01/18 (Call 09/01/14)c		EUR	150		217,523
					217,523
SWITZERLAND — 0.76%
Sunrise Communications Holdings SA
8.50%, 12/31/18 (Call 12/31/14)c		EUR	200		293,424
					293,424
UNITED KINGDOM — 10.67%
Algeco Scotsman Global Finance PLC
9.00%, 10/15/18 (Call 10/15/15)c		EUR	100		140,717
Anglian Water Osprey Financing PLC
7.00%, 01/31/18		GBP	100		172,544
Aston Martin Capital Ltd.
9.25%, 07/15/18 (Call 07/15/14)b		GBP	100		160,923
Bakkavor Finance (2) PLC
8.25%, 02/15/18 (Call 02/15/15)b		GBP	100		161,320
Boparan Finance PLC
9.75%, 04/30/18 (Call 04/30/14)c		EUR	100		150,403
Co-Operative Group Ltd.
1.00%, 07/08/20d		GBP	100		168,058
EC Finance PLC
9.75%, 08/01/17 (Call 08/01/14)c		EUR	200		292,972
Gala Group Finance PLC
8.88%, 09/01/18 (Call 06/01/14)b		GBP	150		247,925
HBOS PLC
4.88%, 03/20/15		EUR	250		349,340
Heathrow Finance PLC
7.13%, 03/01/17		GBP	50		86,764
Jaguar Land Rover PLC
8.13%, 05/15/18 (Call 05/15/14)b		GBP	125		217,008
Kerling PLC
10.63%, 02/01/17 (Call 02/01/14)c		EUR	100		131,611
Matalan Finance PLC
8.88%, 04/29/16 (Call 04/30/13)b		GBP	100		160,130
Odeon & UCI Finco PLC
9.00%, 08/01/18 (Call 08/01/14)b		GBP	100		165,449
Phones4u Finance PLC
9.50%, 04/01/18 (Call 04/01/14)b		GBP	100		167,265
Priory Group No. 3 PLC
7.00%, 02/15/18 (Call 02/15/14)b		GBP	125		206,108

13

Schedule of Investments (Unaudited) (Continued)

iSHARES^® GLOBAL EX USD HIGH YIELD CORPORATE BOND FUND

January 31, 2013

Security	Principal (000s)			Value
R & R Ice Cream PLC
8.38%, 11/15/17 (Call 11/15/13)c		EUR	100	$	146,260
Rexam PLC
6.75%, 06/29/67 (Call 06/29/17)a,c		EUR	150		214,147
Royal Bank of Scotland Group PLC
4.63%, 09/22/21 (Call 09/22/16)a		EUR	150		197,247
Thomas Cook Group PLC
6.75%, 06/22/15		EUR	100		123,184
7.75%, 06/22/17		GBP	50		68,967
Virgin Media Finance PLC Series .
5.13%, 02/15/22		GBP	100		158,941
Viridian Group
11.13%, 04/01/17c		EUR	100		142,074
William Hill PLC
7.13%, 11/11/16		GBP	50		88,418
					4,117,775
UNITED STATES — 1.33%
GMAC International Finance BV
7.50%, 04/21/15		EUR	250		369,611
Levi Strauss & Co.
7.75%, 05/15/18 (Call 05/15/14)		EUR	100		144,393
					514,004
TOTAL CORPORATE BONDS & NOTES
(Cost: $33,471,666)					35,565,946
FOREIGN AGENCY OBLIGATIONS — 1.65%
DENMARK — 0.58%
DONG Energy A/S
7.75%, 06/01/3010 (Call 06/01/21)a		EUR	150		223,207
					223,207
PORTUGAL — 1.07%
Caixa Geral de Depositos SA
5.13%, 02/19/14		EUR	200		275,552
5.63%, 12/04/15c		EUR	100		140,468
					416,020
TOTAL FOREIGN AGENCY OBLIGATIONS
(Cost: $620,274)					639,227

Security	Shares		Value
SHORT-TERM INVESTMENTS — 0.01%
MONEY MARKET FUNDS — 0.01%
BlackRock Cash Funds: Treasury, SL Agency Shares
0.03%e,f		4,005	$	4,005
				4,005
TOTAL SHORT-TERM INVESTMENTS
(Cost: $4,005)				4,005
TOTAL INVESTMENTS IN SECURITIES — 93.84%
(Cost: $34,095,945)				36,209,178
Other Assets, Less Liabilities — 6.16%				2,375,120
NET ASSETS — 100.00%			$	38,584,298

CAD	—  Canadian Dollar
EUR	—  Euro
GBP	—  British Pound

^a  Variable rate security. Rate shown is as of report date.

^b  This security may be resold to qualified institutional buyers under Rule 144A of the Securities Act of 1933.

^c  This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

^d  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.

^e  Affiliated issuer. See Note 2.

^f  The rate quoted is the annualized seven-day yield of the fund at period end.

See accompanying notes to schedules of investments.

14

Schedule of Investments (Unaudited)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND FUND

January 31, 2013

Security		Principal (000s)		Value
CORPORATE BONDS & NOTES — 96.67%
AUSTRALIA — 0.98%
FMG Resources (August 2006) Pty Ltd.
6.88%, 02/01/18 (Call 02/01/14)a	USD		250	$	258,750
7.00%, 11/01/15 (Call 03/04/13)a	USD		100		104,083
					362,833
CANADA — 3.23%
Air Canada
10.13%, 08/01/15 (Call 03/04/13)a	CAD		50		53,172
Armtec Holdings Ltd.
8.88%, 09/22/17 (Call 09/22/13)	CAD		6		4,625
Bombardier Inc.
6.13%, 05/15/21b	EUR		100		141,218
7.75%, 03/15/20a,c	USD		150		169,500
Great Canadian Gaming Corp.
6.63%, 07/25/22 (Call 07/25/17)a	CAD		50		52,185
Inmet Mining Corp.
8.75%, 06/01/20 (Call 06/01/16)a	USD		100		111,083
MEG Energy Corp.
6.38%, 01/30/23 (Call 07/30/17)a	USD		100		104,371
Novelis Inc.
8.75%, 12/15/20 (Call 12/15/15)	USD		150		169,375
Paramount Resources Ltd.
8.25%, 12/13/17 (Call 12/13/13)	CAD		50		51,649
Precision Drilling Corp.
6.63%, 11/15/20 (Call 11/15/15)	USD		100		106,667
Quebecor Media Inc.
7.38%, 01/15/21 (Call 01/15/16)a	CAD		100		109,626
Trident Exploration Corp.
8.25%, 04/13/18 (Call 04/13/15)	CAD		25		23,603
Videotron Ltee
5.00%, 07/15/22	USD		100		104,000
					1,201,074
FINLAND — 0.38%
Nokia OYJ
6.75%, 02/04/19	EUR		100		142,815
					142,815
FRANCE — 4.44%
Credit Agricole SA
6.64%, 12/31/49 (Call 05/31/17)a,d	USD		100		91,500
Faurecia SA
9.38%, 12/15/16b	EUR		100		151,350
Groupama SA
7.88%, 10/27/39 (Call 10/27/19)d	EUR		50		59,386
Lafarge SA
5.38%, 06/26/17b	EUR		250		362,539
6.63%, 11/29/18	EUR		100		150,167
Peugeot SA
5.63%, 06/29/15	EUR		75		103,434
5.63%, 07/11/17	EUR		50		67,112

Security		Principal (000s)		Value
Renault SA
5.63%, 06/30/15	EUR		150	$	215,941
Rexel SA
8.25%, 12/15/16 (Call 12/15/13)	EUR		100		146,717
Societe Generale SA
5.92%, 12/31/49 (Call 04/05/17)a,d	USD		100		94,000
Wendel SA
4.38%, 08/09/17	EUR		50		69,058
4.88%, 11/04/14	EUR		100		141,056
					1,652,260
GERMANY — 3.06%
ATU Auto-Teile-Unger Handels GmbH & Co. KG
11.00%, 05/15/14b	EUR		100		129,632
Beverage Packaging Holdings (Luxembourg) II SA
9.50%, 06/15/17 (Call 03/01/13)b	EUR		100		139,246
Franz Haniel & Cie GmbH
5.88%, 02/01/17	EUR		100		153,488
Kabel Deutschland Vertrieb und Service GmbH
6.50%, 06/29/18 (Call 06/30/14)b	EUR		100		143,375
ThyssenKrupp AG
4.38%, 02/28/17	EUR		100		140,335
Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH
5.75%, 01/15/23 (Call 01/15/18)b	EUR		100		136,894
7.50%, 03/15/19 (Call 03/15/15)b	EUR		100		148,465
UPCB Finance Ltd.
7.63%, 01/15/20 (Call 01/15/15)b	EUR		100		146,260
					1,137,695
GREECE — 0.37%
OTE PLC
7.25%, 02/12/15b,e	EUR		100		135,966
					135,966
IRELAND — 0.59%
Ardagh Packaging Finance PLC
7.38%, 10/15/17 (Call 10/15/14)b	EUR		150		218,117
					218,117
ITALY — 2.41%
Banca Monte dei Paschi di Siena SpA
5.00%, 04/21/20b	EUR		100		120,324
Banco Popolare
6.00%, 11/05/20b	EUR		50		67,225
Fiat Finance & Trade SA
7.63%, 09/15/14	EUR		100		143,613
Italcementi Finance SA
6.63%, 03/19/20e	EUR		50		68,379
Lottomatica Group SpA
8.25%, 03/31/66 (Call 03/31/16)b,d	EUR		50		69,991
Wind Acquisition Finance SA
7.25%, 02/15/18 (Call 11/15/13)a	USD		200		209,500
11.75%, 07/15/17 (Call 07/15/13)b	EUR		150		215,742
					894,774

15

Schedule of Investments (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND FUND

January 31, 2013

Security		Principal (000s)		Value
JAMAICA — 0.30%
Digicel Group Ltd.
10.50%, 04/15/18 (Call 04/15/14)a	USD		100	$	111,750
					111,750
JAPAN — 0.19%
Tokyo Electric Power Co. Inc.
4.50%, 03/24/14	EUR		50		69,397
					69,397
LUXEMBOURG — 4.29%
CHC Helicopter SA
9.25%, 10/15/20 (Call 10/15/15)	USD		100		107,000
ConvaTec Healthcare E SA
7.38%, 12/15/17 (Call 12/15/13)b	EUR		100		145,411
Fiat Finance & Trade SA
6.38%, 04/01/16b	EUR		250		348,897
Fiat Industrial Finance Europe SA
5.25%, 03/11/15b	EUR		100		141,509
Ineos Group Holdings SA
7.88%, 02/15/16 (Call 03/01/13)b	EUR		50		67,817
Intelsat (Luxembourg) SA
11.25%, 02/04/17 (Call 03/04/13)	USD		150		158,738
Intelsat Jackson Holdings SA
6.63%, 12/15/22 (Call 12/15/17)a	USD		100		101,406
7.25%, 04/01/19 (Call 04/01/15)	USD		200		214,333
Ontex IV SA
7.50%, 04/15/18 (Call 04/15/14)b	EUR		100		140,151
Telenet Finance V Luxembourg SCA
6.25%, 08/15/22 (Call 08/15/17)b	EUR		100		144,563
Trinseo Materials Operating SCA/Trinseo Materials Finance Inc.
8.75%, 02/01/19 (Call 08/01/15)a	USD		25		24,932
					1,594,757
MEXICO — 0.21%
NII Capital Corp.
7.63%, 04/01/21 (Call 04/01/16)	USD		100		78,375
					78,375
NETHERLANDS — 4.63%
Conti-Gummi Finance BV
7.50%, 09/15/17 (Call 09/15/13)b	EUR		100		144,377
EDP Finance BV
5.75%, 09/21/17b	EUR		150		214,795
Fresenius Finance BV
4.25%, 04/15/19b	EUR		100		145,072
HeidelbergCement Finance BV
8.00%, 01/31/17b	EUR		200		312,663
InterGen NV
9.00%, 06/30/17 (Call 03/04/13)a	USD		75		69,375
LyondellBasell Industries NV
5.00%, 04/15/19 (Call 01/15/19)	USD		100		110,375
6.00%, 11/15/21 (Call 08/17/21)	USD		200		236,000
NXP BV/NXP Funding LLC
9.75%, 08/01/18 (Call 08/01/14)a	USD		100		115,500
Schaeffler Finance BV
7.75%, 02/15/17b	EUR		100		152,708

Security		Principal (000s)		Value
UPC Holding BV
8.38%, 08/15/20 (Call 08/15/15)b	EUR		50	$	74,685
Ziggo Bond Co. BV
8.00%, 05/15/18 (Call 05/15/14)b	EUR		100		146,825
					1,722,375
NORWAY — 0.13%
Norske Skogindustrier ASA
7.00%, 06/26/17	EUR		50		47,283
					47,283
PORTUGAL — 1.47%
Banco Comercial Portugues SA
5.63%, 04/23/14	EUR		100		138,015
Banco Espirito Santo SA
5.63%, 06/05/14	EUR		150		207,682
Portugal Telecom International Finance BV
4.38%, 03/24/17	EUR		50		67,886
5.00%, 11/04/19	EUR		100		134,131
					547,714
SPAIN — 1.90%
Abengoa SA
9.63%, 02/25/15b	EUR		50		71,121
Campofrio Food Group SA
8.25%, 10/31/16 (Call 10/31/13)b	EUR		100		142,120
Cirsa Funding Luxembourg SA
8.75%, 05/15/18 (Call 05/15/14)b	EUR		50		66,691
Mapfre SA
5.13%, 11/16/15	EUR		100		140,689
Nara Cable Funding Ltd.
8.88%, 12/01/18 (Call 12/01/13)b	EUR		100		139,269
Obrascon Huarte Lain SA
7.38%, 04/28/15	EUR		100		144,733
					704,623
SWEDEN — 0.39%
Verisure Holding AB
8.75%, 09/01/18 (Call 09/01/14)b	EUR		100		145,015
					145,015
UNITED KINGDOM — 4.24%
Boparan Finance PLC
9.88%, 04/30/18 (Call 04/30/14)a	GBP		100		176,381
CEVA Group PLC
11.50%, 04/01/18 (Call 04/01/14)a	USD		100		88,125
EC Finance PLC
9.75%, 08/01/17 (Call 08/01/14)b	EUR		100		146,486
HBOS PLC
4.88%, 03/20/15	EUR		100		139,736
6.75%, 05/21/18a	USD		200		219,500
Ineos Finance PLC
9.00%, 05/15/15 (Call 05/15/13)a	USD		100		105,625
9.25%, 05/15/15 (Call 05/15/13)b	EUR		50		71,801
Jaguar Land Rover PLC
8.25%, 03/15/20 (Call 03/15/16)b	GBP		100		176,460
Kerling PLC
10.63%, 02/01/17 (Call 02/01/14)b	EUR		50		65,806

16

Schedule of Investments (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND FUND

January 31, 2013

Security		Principal (000s)		Value
Phones4u Finance PLC
9.50%, 04/01/18 (Call 04/01/14)a	GBP		100	$	167,265
Royal Bank of Scotland Group PLC
4.63%, 09/22/21 (Call 09/22/16)d	EUR		100		131,498
William Hill PLC
7.13%, 11/11/16	GBP		50		88,418
					1,577,101
UNITED STATES — 63.46%
Advanced Micro Devices Inc.
8.13%, 12/15/17 (Call 12/15/13)c	USD		100		93,875
AES Corp. (The)
8.00%, 10/15/17	USD		250		288,988
Aircastle Ltd.
6.25%, 12/01/19	USD		50		53,904
Alere Inc.
8.63%, 10/01/18 (Call 10/01/14)	USD		50		51,917
Ally Financial Inc.
4.63%, 06/26/15	USD		100		104,719
5.50%, 02/15/17	USD		100		107,750
6.75%, 12/01/14	USD		100		108,000
8.00%, 03/15/20	USD		250		306,562
Alpha Natural Resources Inc.
6.00%, 06/01/19 (Call 06/01/14)	USD		100		90,000
AMC Entertainment Inc.
9.75%, 12/01/20 (Call 12/01/15)	USD		100		116,375
AmeriGas Finance LLC/AmeriGas Finance Corp.
6.75%, 05/20/20 (Call 05/20/16)	USD		100		107,958
Arch Coal Inc.
7.00%, 06/15/19 (Call 06/15/15)c	USD		200		180,250
Avaya Inc.
9.75%, 11/01/15 (Call 03/04/13)c	USD		100		95,250
Ball Corp.
5.75%, 05/15/21 (Call 11/15/15)	USD		100		107,000
Berry Plastics Corp.
9.50%, 05/15/18 (Call 05/15/14)	USD		100		111,500
Bill Barrett Corp.
7.00%, 10/15/22 (Call 10/15/17)	USD		100		102,625
Biomet Inc.
6.50%, 08/01/20 (Call 08/01/15)a	USD		50		52,667
6.50%, 10/01/20 (Call 10/01/15)a	USD		50		51,125
Boyd Gaming Corp.
9.13%, 12/01/18 (Call 12/01/14)	USD		100		103,875
Cablevision Systems Corp.
7.75%, 04/15/18	USD		150		168,165
Caesars Entertainment Operating Co. Inc.
9.00%, 02/15/20 (Call 02/15/16)a,c	USD		100		102,500
12.75%, 04/15/18 (Call 04/15/14)	USD		50		38,156
Calpine Corp.
7.50%, 02/15/21 (Call 11/01/15)a	USD		315		345,712
Case New Holland Inc.
7.88%, 12/01/17	USD		100		117,917
CCO Holdings LLC/CCO Holdings Capital Corp.
6.50%, 04/30/21 (Call 04/30/15)c	USD		150		160,500
7.00%, 01/15/19 (Call 01/15/14)	USD		100		108,083
7.88%, 04/30/18 (Call 04/30/13)	USD		150		160,437
CDW LLC/CDW Finance Corp.
8.50%, 04/01/19 (Call 04/01/15)	USD		100		110,500
Cengage Learning Acquisitions Inc.
12.00%, 06/30/19 (Call 06/30/15)a	USD		50		21,500
CenturyLink Inc.
6.45%, 06/15/21	USD		150		163,591

Security		Principal (000s)		Value
Ceridian Corp.
11.25%, 11/15/15 (Call 03/04/13)	USD		100	$	101,191
Chaparral Energy Inc.
7.63%, 11/15/22 (Call 04/15/17)c	USD		100		107,673
Chesapeake Energy Corp.
6.63%, 08/15/20c	USD		200		219,249
6.78%, 03/15/19 (Call 03/04/13)c	USD		100		100,918
Chrysler Group LLC/CG Co-Issuer Inc.
8.00%, 06/15/19 (Call 06/15/15)	USD		200		218,750
Cincinnati Bell Inc.
8.38%, 10/15/20 (Call 10/15/15)	USD		81		88,023
CIT Group Inc.
5.00%, 05/15/17	USD		100		106,688
5.25%, 03/15/18	USD		150		160,558
5.50%, 02/15/19a	USD		150		161,250
CityCenter Holdings LLC/CityCenter Finance Corp.
7.63%, 01/15/16 (Call 01/15/14)	USD		100		107,604
Claire’s Stores Inc. Series 144a
9.00%, 03/15/19 (Call 03/15/15)a	USD		100		109,625
Clean Harbors Inc.
5.13%, 06/01/21 (Call 12/01/16)a	USD		100		103,000
Clear Channel Communications Inc.
9.00%, 12/15/19 (Call 07/15/15)a	USD		75		71,063
9.00%, 03/01/21 (Call 03/01/16)	USD		100		93,250
Clear Channel Worldwide Holdings Inc.
Series B
7.63%, 03/15/20 (Call 03/15/15)	USD		125		131,250
Clearwire Communications LLC/Clearwire Finance Inc.
12.00%, 12/01/15 (Call 03/04/13)a	USD		150		162,375
CommScope Inc.
8.25%, 01/15/19 (Call 01/15/15)a	USD		100		109,167
Community Health Systems Inc.
7.13%, 07/15/20 (Call 07/15/16)	USD		100		108,000
8.00%, 11/15/19 (Call 11/15/15)	USD		100		110,250
Concho Resources Inc.
6.50%, 01/15/22 (Call 01/15/17)	USD		100		109,000
CONSOL Energy Inc.
8.00%, 04/01/17 (Call 04/01/14)	USD		150		162,375
Continental Airlines Inc.
6.75%, 09/15/15 (Call 03/04/13)a	USD		100		105,000
Continental Resources Inc.
5.00%, 09/15/22 (Call 03/15/17)c	USD		100		106,625
Cricket Communications Inc.
7.75%, 10/15/20 (Call 10/15/15)	USD		100		103,438
Crown Castle International Corp.
5.25%, 01/15/23a	USD		50		52,125
DaVita HealthCare Partners Inc.
6.38%, 11/01/18 (Call 11/01/13)	USD		100		106,833
Del Monte Corp.
7.63%, 02/15/19 (Call 02/15/14)	USD		100		104,375
Denbury Resources Inc.
8.25%, 02/15/20 (Call 02/15/15)	USD		100		111,500
DISH DBS Corp.
4.63%, 07/15/17c	USD		100		104,500
5.88%, 07/15/22	USD		150		159,375
6.75%, 06/01/21	USD		150		167,973
7.88%, 09/01/19	USD		150		177,000
DPL Inc.
7.25%, 10/15/21 (Call 07/15/21)	USD		100		107,875
E*TRADE Financial Corp.
6.00%, 11/15/17 (Call 11/15/14)	USD		100		103,500
El Paso Corp.
7.00%, 06/15/17	USD		100		114,000

17

Schedule of Investments (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND FUND

January 31, 2013

Security		Principal (000s)		Value
Endo Health Solutions Inc.
7.00%, 07/15/19 (Call 07/15/15)	USD		100	$	108,719
Energy Future Intermediate Holding Co. LLC/EFIH Finance Inc.
10.00%, 12/01/20 (Call 12/01/15)a	USD		150		171,750
11.75%, 03/01/22 (Call 03/01/17)a	USD		50		56,875
Energy Transfer Equity LP
7.50%, 10/15/20	USD		150		172,875
Energy XXI Gulf Coast Inc.
9.25%, 12/15/17 (Call 12/15/14)	USD		100		113,708
EP Energy LLC/EP Energy Finance Inc. Series WI
9.38%, 05/01/20 (Call 05/01/16)	USD		100		112,583
Equinix Inc.
7.00%, 07/15/21 (Call 07/15/16)	USD		100		111,750
First Data Corp.
7.38%, 06/15/19 (Call 06/15/15)a,c	USD		150		157,537
8.25%, 01/15/21 (Call 01/15/16)a	USD		100		102,625
11.25%, 03/31/16 (Call 03/04/13)c	USD		100		99,839
12.63%, 01/15/21 (Call 01/15/16)c	USD		150		160,125
Freescale Semiconductor Inc.
9.25%, 04/15/18 (Call 04/15/14)a	USD		200		219,000
10.75%, 08/01/20 (Call 08/01/15)	USD		50		55,625
Fresenius Medical Care US Finance II Inc.
5.63%, 07/31/19a	USD		200		216,000
Frontier Communications Corp.
8.25%, 04/15/17c	USD		200		231,500
8.50%, 04/15/20c	USD		100		115,250
GenOn Energy Inc.
9.50%, 10/15/18	USD		100		118,667
Goodyear Tire & Rubber Co. (The)
8.25%, 08/15/20 (Call 08/15/15)	USD		100		110,000
Halcon Resources Corp.
8.88%, 05/15/21 (Call 11/15/16)a	USD		25		26,635
9.75%, 07/15/20 (Call 07/15/16)a	USD		50		54,750
Hanesbrands Inc.
6.38%, 12/15/20 (Call 12/15/15)	USD		100		108,438
Harrah’s Operating Co. Inc.
10.00%, 12/15/18 (Call 12/15/13)	USD		150		102,047
10.75%, 02/01/16 (Call 03/04/13)	USD		25		21,938
11.25%, 06/01/17 (Call 06/01/13)	USD		150		159,905
HCA Holdings Inc.
7.75%, 05/15/21 (Call 11/15/15)	USD		100		109,250
HCA Inc.
5.88%, 05/01/23	USD		100		104,188
6.50%, 02/15/20	USD		400		446,333
8.50%, 04/15/19 (Call 04/15/14)	USD		150		166,625
HD Supply Inc.
10.50%, 01/15/21 (Call 01/15/16)a	USD		25		25,684
11.00%, 04/15/20 (Call 04/15/16)a	USD		100		119,333
Health Management Associates Inc.
7.38%, 01/15/20 (Call 01/15/16)	USD		100		110,250
Hertz Corp. (The)
6.75%, 04/15/19 (Call 04/15/15)	USD		150		163,125
Hexion U.S. Finance Corp.
6.63%, 04/15/20 (Call 04/15/15)a	USD		25		24,796
Hexion U.S. Finance Corp./Hexion Nova Scotia Finance ULC
9.00%, 11/15/20 (Call 11/15/15)c	USD		100		93,000
Host Hotels & Resorts LP
5.88%, 06/15/19 (Call 06/15/15)c	USD		100		108,750
Hughes Satellite Systems Corp.
7.63%, 06/15/21	USD		100		114,500
Huntsman International LLC
5.50%, 06/30/16 (Call 03/04/13)c	USD		100		100,550

Security		Principal (000s)		Value
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
7.75%, 01/15/16 (Call 02/19/13)c	USD		100	$	104,001
8.00%, 01/15/18 (Call 01/15/14)	USD		100		106,925
Infor US Inc.
9.38%, 04/01/19 (Call 04/01/15)	USD		100		113,625
International Lease Finance Corp.
4.88%, 04/01/15	USD		200		208,070
5.65%, 06/01/14	USD		100		104,250
8.25%, 12/15/20	USD		200		245,000
8.75%, 03/15/17	USD		200		235,500
inVentiv Health Inc.
9.00%, 01/15/18 (Call 01/15/16)a	USD		25		25,688
10.00%, 08/15/18 (Call 08/15/14)a	USD		25		21,813
JC Penney Corp. Inc.
5.65%, 06/01/20	USD		25		20,792
Kinetic Concepts Inc./KCI USA Inc.
10.50%, 11/01/18 (Call 11/01/15)a	USD		100		106,583
Laureate Education Inc.
9.25%, 09/01/19 (Call 09/01/15)a	USD		50		54,438
Lear Corp.
4.75%, 01/15/23 (Call 01/15/18)a	USD		25		24,859
Lennar Corp.
4.75%, 12/15/17 (Call 09/15/17)	USD		100		105,083
Level 3 Financing Inc.
8.13%, 07/01/19 (Call 07/01/15)	USD		200		218,400
Limited Brands Inc.
6.90%, 07/15/17	USD		200		229,625
Linn Energy LLC/Linn Energy Finance Corp.
6.25%, 11/01/19 (Call 11/01/15)a	USD		200		200,000
MarkWest Energy Partners LP/MarkWest Energy Finance Corp.
6.75%, 11/01/20 (Call 11/01/15)	USD		150		164,125
Masco Corp.
6.13%, 10/03/16	USD		150		167,640
McClatchy Co. (The)
9.00%, 12/15/22 (Call 12/15/17)a,c	USD		100		105,250
MetroPCS Wireless Inc.
7.88%, 09/01/18 (Call 09/01/14)c	USD		100		108,150
MGM Resorts International
6.63%, 12/15/21	USD		75		77,143
7.50%, 06/01/16c	USD		100		109,250
8.63%, 02/01/19	USD		150		171,199
Momentive Performance Materials Inc.
8.88%, 10/15/20 (Call 10/15/15)	USD		50		51,636
9.00%, 01/15/21 (Call 01/15/16)c	USD		25		19,531
Newfield Exploration Co.
5.75%, 01/30/22	USD		100		110,083
NGPL PipeCo LLC
9.63%, 06/01/19 (Call 06/01/15)a	USD		100		115,366
Nielsen Finance LLC / Nielsen Finance Co.
4.50%, 10/01/20 (Call 10/01/16)a	USD		50		49,000
NRG Energy Inc.
7.63%, 05/15/19 (Call 05/15/14)	USD		250		268,021
8.25%, 09/01/20 (Call 09/01/15)c	USD		50		56,250
Nuveen Investments Inc.
9.50%, 10/15/20 (Call 10/15/16)a,c	USD		50		51,125
Oasis Petroleum Inc.
7.25%, 02/01/19 (Call 02/01/15)	USD		100		108,333
Offshore Group Investments Ltd.
7.50%, 11/01/19 (Call 11/01/15)a	USD		50		51,125
11.50%, 08/01/15 (Call 03/04/13)	USD		46		50,025
Peabody Energy Corp.
6.00%, 11/15/18c	USD		150		157,125

18

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND FUND

January 31, 2013

Security		Principal (000s)		Value
Pinnacle Foods Finance LLC
9.25%, 04/01/15 (Call 03/04/13)	USD		113	$	114,130
Plains Exploration & Production Co.
6.63%, 05/01/21 (Call 05/01/16)	USD		100		110,400
Post Holdings Inc.
7.38%, 02/15/22 (Call 02/15/17)	USD		50		55,500
Quicksilver Resources Inc.
8.25%, 08/01/15 (Call 03/04/13)	USD		100		96,000
R.R. Donnelley & Sons Co.
8.25%, 03/15/19	USD		100		101,375
Range Resources Corp.
5.00%, 08/15/22 (Call 02/15/17)	USD		100		104,667
RBS Global Inc./Rexnord LLC
8.50%, 05/01/18 (Call 05/01/14)	USD		100		110,000
Realogy Corp.
7.88%, 02/15/19 (Call 02/15/15)a	USD		100		110,000
Regency Energy Partners LP/ Regency Energy Finance Corp.
6.88%, 12/01/18 (Call 12/01/14)	USD		100		108,167
Reynolds Group Issuer Inc./ Reynolds Group Issuer LLC
5.75%, 10/15/20 (Call 10/15/15)	USD		100		102,250
7.13%, 04/15/19 (Call 10/15/14)	USD		350		374,937
9.88%, 08/15/19 (Call 08/15/15)	USD		150		164,266
Rite Aid Corp.
9.50%, 06/15/17 (Call 03/04/13)c	USD		150		156,675
Rockies Express Pipeline LLC
5.63%, 04/15/20 a	USD		75		70,951
Royal Bank of Scotland Group PLC
5.05%, 01/08/15	USD		100		103,039
Sabine Pass LNG LP
7.50%, 11/30/16	USD		100		110,625
Samson Investment Co.
9.75%, 02/15/20 (Call 02/15/16)a	USD		150		159,656
SandRidge Energy Inc.
7.50%, 03/15/21 (Call 03/15/16)	USD		100		106,019
8.00%, 06/01/18 (Call 06/01/13)a	USD		200		210,000
Seagate HDD Cayman
7.75%, 12/15/18 (Call 12/15/14)	USD		100		110,408
Sealed Air Corp.
8.13%, 09/15/19 (Call 09/15/15)a	USD		100		114,000
Sears Holdings Corp.
6.63%, 10/15/18c	USD		100		94,975
ServiceMaster Co.
8.00%, 02/15/20 (Call 02/15/15)	USD		50		52,826
Smithfield Foods Inc.
6.63%, 08/15/22 (Call 08/15/17)	USD		100		110,000
Springleaf Finance Corp.
6.90%, 12/15/17	USD		150		142,594
Sprint Nextel Corp.
7.00%, 08/15/20	USD		50		54,375
9.00%, 11/15/18a	USD		150		185,281
9.13%, 03/01/17	USD		150		175,875
11.50%, 11/15/21	USD		100		137,000
Standard Pacific Corp.
8.38%, 05/15/18	USD		100		118,658
Suburban Propane Partners LP/ Suburban Energy Finance Corp.
7.50%, 10/01/18 (Call 10/01/14)	USD		84		90,552
SunGard Data Systems Inc.
6.63%, 11/01/19 (Call 11/01/15)a	USD		50		51,625
7.38%, 11/15/18 (Call 11/15/13)	USD		100		106,833
SUPERVALU Inc.
8.00%, 05/01/16	USD		50		49,821
Tenet Healthcare Corp.
8.88%, 07/01/19 (Call 07/01/14)	USD		150		169,500

Security		Principal (000s)		Value
Tesoro Corp.
5.38%, 10/01/22 (Call 10/01/17)	USD		50	$	52,146
Texas Competitive Electric Holdings Co. LLC/TCEH Finance Inc.
11.50%, 10/01/20 (Call 04/01/16)a,c	USD		150		118,876
Toys R Us Property Co. I LLC
10.75%, 07/15/17 (Call 07/15/13)	USD		100		107,417
TransDigm Inc.
7.75%, 12/15/18 (Call 12/15/14)	USD		150		166,687
U.S. Foodservice Inc.
8.50%, 06/30/19 (Call 06/30/14)a	USD		50		51,938
United Rentals (North America) Inc.
7.38%, 05/15/20 (Call 05/15/16)	USD		150		164,538
8.38%, 09/15/20 (Call 09/15/15)c	USD		100		109,875
United States Steel Corp.
7.38%, 04/01/20c	USD		100		106,167
Univision Communications Inc.
6.88%, 05/15/19 (Call 05/15/15)a	USD		150		157,406
UPCB Finance III Ltd.
6.63%, 07/01/20 (Call 07/01/15)a	USD		150		160,031
USG Corp.
6.30%, 11/15/16	USD		100		105,250
Valeant Pharmaceuticals International Inc.
6.88%, 12/01/18 (Call 12/01/14)a	USD		200		211,750
Vanguard Health Holding Co. II LLC/ Vanguard Holding Co. II Inc.
8.00%, 02/01/18 (Call 02/01/14)	USD		100		105,792
Vulcan Materials Co.
7.50%, 06/15/21	USD		100		115,833
West Corp.
8.63%, 10/01/18 (Call 10/01/14)	USD		100		107,250
WideOpenWest Finance LLC/ WideOpenWest Capital Corp.
10.25%, 07/15/19 (Call 07/15/15)a	USD		75		82,500
Windstream Corp.
7.75%, 10/15/20 (Call 10/15/15)c	USD		200		218,000
WPX Energy Inc.
6.00%, 01/15/22 (Call 10/15/21)	USD		100		108,400
Wynn Las Vegas LLC
7.75%, 08/15/20 (Call 08/15/15)	USD		100		112,938
XM Satellite Radio Inc.
7.63%, 11/01/18 (Call 11/01/14)a	USD		150		165,750
Zayo Group LLC/Zayo Capital Inc.
10.13%, 07/01/20 (Call 07/01/16)	USD		100		117,000
					23,584,857
TOTAL CORPORATE BONDS & NOTES
(Cost: $34,240,495)					35,928,781
FOREIGN AGENCY OBLIGATIONS — 0.58%
DENMARK — 0.20%
DONG Energy A/S
7.75%, 06/01/3010 (Call 06/01/21)d	EUR		50		74,403
					74,403
PORTUGAL — 0.38%
Caixa Geral de Depositos SA
5.63%, 12/04/15b	EUR		100		140,468
					140,468
TOTAL FOREIGN AGENCY OBLIGATIONS
(Cost: $211,904)					214,871

19

Schedule of Investments (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND FUND

January 31, 2013

Security	Shares		Value
SHORT-TERM INVESTMENTS — 8.90%
MONEY MARKET FUNDS — 8.90%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.22%f,g,h		2,993,381		2,993,381
BlackRock Cash Funds: Prime, SL Agency Shares
0.20%f,g,h		270,807		270,807
BlackRock Cash Funds: Treasury, SL Agency Shares
0.03%f,g		42,993		42,993
				3,307,181
TOTAL SHORT-TERM INVESTMENTS
(Cost: $3,307,181)				3,307,181
TOTAL INVESTMENTS IN SECURITIES — 106.15%
(Cost: $37,759,580)				39,450,833
Other Assets, Less Liabilities — (6.15)%				(2,284,538	)
NET ASSETS — 100.00%			$	37,166,295

CAD	—   Canadian Dollar
EUR	—   Euro
GBP	—   British Pound
USD	—   United States Dollar

^a  This security may be resold to qualified institutional buyers under Rule 144A of the Securities Act of 1933.

^b  This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

^c  All or a portion of this security represents a security on loan. See Note 3.

^d  Variable rate security. Rate shown is as of report date.

^e  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.

^f  Affiliated issuer. See Note 2.

^g  The rate quoted is the annualized seven-day yield of the fund at period end.

^h  All or a portion of this security represents an investment of securities lending collateral. See Note 3.

See accompanying notes to schedules of investments.

20

Notes to Schedules of Investments  (Unaudited)

iSHARES^®, INC.

iShares, Inc. (the “Company”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Company was incorporated under the laws of the State of Maryland on September 1, 1994 pursuant to amended and restated Articles of Incorporation.

These schedules of investments relate only to the following funds (each, a “Fund,” and collectively, the “Funds”):

iShares Bond Fund

Emerging Markets Corporate

Emerging Markets High Yield

Emerging Markets Local Currency

Global ex USD High Yield Corporate

Global High Yield Corporate

1. SIGNIFICANT ACCOUNTING POLICIES

SECURITY VALUATION

Each Fund’s investments are valued at fair value each day that the Fund’s listing exchange is open. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) provides oversight of the valuation of investments for the Funds. The investments of each Fund are valued pursuant to policies and procedures developed by the Global Valuation Committee and approved by the Board of Directors of the Company (the “Board”).

• Fixed income investments are valued at the last available bid price received from independent pricing services. In determining the value of a fixed income investment, pricing services may use certain information with respect to transactions in such investments, quotations from dealers, pricing matrixes, market transactions in comparable investments, various relationships observed in the market between investments and calculated yield measures.

• Open-end U.S. mutual funds are valued at that day’s published net asset value (NAV).

In the event that application of these methods of valuation results in a price for an investment which is deemed not to be representative of the fair value of such investment or if a price is not available, the investment will be valued based upon other available factors deemed relevant by the Global Valuation Committee, in accordance with policies approved by the Board. These factors include but are not limited to (i) attributes specific to the investment; (ii) the principal market for the investment; (iii) the customary participants in the principal market for the investment; (iv) data assumptions by market participants for the investment, if reasonably available; (v) quoted prices for similar investments in active markets; and (vi) other factors, such as future cash flows, interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and/or other default rates. Valuations based on such factors are reported to the Board on a quarterly basis.

The Global Valuation Committee employs various methods for calibrating valuation approaches for investments where an active market does not exist, including regular due diligence of the Company’s pricing vendors, a regular review of key inputs and assumptions, transactional back-testing or disposition analysis to compare unrealized gains and losses to realized gains and losses, reviews of missing or stale prices and large movements in market values, and reviews of market related activity.

Fair value pricing could result in a difference between the prices used to calculate a Fund’s net asset value and the prices used by the Fund’s underlying index, which in turn could result in a difference between the Fund’s performance and the performance of the Fund’s underlying index.

Various inputs are used in determining the fair value of financial instruments. Inputs may be based on independent market data (“observable inputs”) or they may be internally developed (“unobservable inputs”). These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes. The level of a value determined for a financial instrument within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value

1

Notes to Schedules of Investments (Unaudited) (Continued)

iSHARES^®, INC.

measurement in its entirety. The categorization of a value determined for a financial instrument within the hierarchy is based upon the pricing transparency of the instrument and does not necessarily correspond to the Funds’ perceived risk of that instrument. The three levels of the fair value hierarchy are as follows:

• Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities;

• Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability (such as exchange rates, financing terms, interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs; and

• Level 3 — Unobservable inputs for the asset or liability, including the Funds’ assumptions used in determining the fair value of investments.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. In accordance with the Company’s policy, transfers between different levels of the fair value hierarchy are deemed to have occurred as of the beginning of the reporting period.

The following table summarizes the value of each of the Funds’ investments according to the fair value hierarchy as of January 31, 2013. The breakdown of each Fund’s investments into major categories is disclosed in its respective schedule of investments.

iShares Bond Fund and Investment Type	Investments
	Level 1		Level 2		Level 3		Total
Emerging Markets Corporate
Assets:
Corporate Bonds & Notes	$	—	$	12,534,311	$	—	$	12,534,311
Foreign Agency Obligations		—		13,343,772		—		13,343,772
Short-Term Investments		188,829		—		—		188,829
	$	188,829	$	25,878,083	$	—	$	26,066,912
Emerging Markets High Yield
Assets:
Corporate Bonds & Notes	$	—	$	55,725,232	$	—	$	55,725,232
Foreign Agency Obligations		—		23,501,252		—		23,501,252
Foreign Government Obligations		—		141,015,601		—		141,015,601
Short-Term Investments		1,258,766		—		—		1,258,766
	$	1,258,766	$	220,242,085	$	—	$	221,500,851
Emerging Markets Local Currency
Assets:
Foreign Agency Obligations	$	—	$	2,827,646	$	—	$	2,827,646
Foreign Government Obligations		—		403,645,394		—		403,645,394
Short-Term Investments		251,388		—		—		251,388
	$	251,388	$	406,473,040	$	—	$	406,724,428
Global ex USD High Yield Corporate
Assets:
Corporate Bonds & Notes	$	—	$	35,565,946	$	—	$	35,565,946
Foreign Agency Obligations		—		639,227		—		639,227
Short-Term Investments		4,005		—		—		4,005
	$	4,005	$	36,205,173	$	—	$	36,209,178
Global High Yield Corporate
Assets:
Corporate Bonds & Notes	$	—	$	35,928,781	$	—	$	35,928,781
Foreign Agency Obligations		—		214,871		—		214,871
Short-Term Investments		3,307,181		—		—		3,307,181
	$	3,307,181	$	36,143,652	$	—	$	39,450,833

2

Notes to Schedules of Investments (Unaudited) (Continued)

iSHARES^®, INC.

FOREIGN CURRENCY TRANSLATION

The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies, as well as investment securities and other assets and liabilities denominated in foreign currencies, are translated into U.S. dollars using exchange rates deemed appropriate by the investment adviser. Purchases and sales of securities, income receipts and expense payments are translated into U.S. dollars on the respective dates of such transactions.

FEDERAL INCOME TAXES

As of January 31, 2013, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows:

iShares Bond Fund	Tax Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Net Unrealized Appreciation (Depreciation)
Emerging Markets Corporate	$	25,621,816	$	601,190	$	(156,094	)	$	445,096
Emerging Markets High Yield		217,940,841		5,487,790		(1,927,780	)		3,560,010
Emerging Markets Local Currency		397,307,878		22,142,130		(12,725,580	)		9,416,550
Global ex USD High Yield Corporate		34,095,945		2,209,102		(95,869	)		2,113,233
Global High Yield Corporate		37,759,580		1,827,587		(136,334	)		1,691,253

RECENT ACCOUNTING STANDARD

In December 2011, the Financial Accounting Standards Board issued guidance to enhance current disclosure requirements on offsetting of certain assets and liabilities and enable financial statement users to compare financial statements prepared under U.S. GAAP and International Financial Reporting Standards (IFRS). The new disclosures are required for investments and derivative financial instruments subject to master netting agreements or similar agreements and require an entity to disclose both gross and net information about such investments and transactions eligible for offset in the statement of assets and liabilities. In addition, the standard requires disclosure of collateral received and posted in connection with master netting agreements or similar agreements. The guidance is effective for financial statements for fiscal years beginning after January 1, 2013, and interim periods within those fiscal years. Management is evaluating the impact of this guidance on the Funds’ financial statements and disclosures.

2. TRANSACTIONS WITH AFFILIATES

Each Fund may invest its positive cash balances in certain money market funds managed by BlackRock Fund Advisors (“BFA”), the Funds’ investment adviser, or an affiliate. BFA is a California corporation indirectly owned by BlackRock, Inc. (“BlackRock”).

3. LOANS OF PORTFOLIO SECURITIES

Each Fund may lend its investment securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by a bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current value of the loaned securities plus the interest accrued on such securities, if any, for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter, at a value equal to at least 100% of the current value of the securities on loan plus accrued interest, if any. The market value of the loaned securities is determined at the close of each business day of the Funds and any additional required collateral is delivered to the Funds on the next business day. The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, the Funds benefit from a borrower default indemnity provided by BlackRock. BlackRock’s indemnity allows for full replacement of securities lent. Any securities lending cash collateral may be reinvested in certain short-term instruments either directly on behalf of a fund or through one or more joint accounts or money market funds, including those managed by

3

Notes to Schedules of Investments (Unaudited) (Continued)

iSHARES^®, INC.

BFA or its affiliates. Each Fund could suffer a loss if the value of an investment purchased with cash collateral falls below the value of the cash collateral received.

As of January 31, 2013, any securities on loan were collateralized by cash. The cash collateral received was invested in money market funds managed by BFA.

4

Item 2. Controls and Procedures.

(a) The President (the Registrant’s Principal Executive Officer) and Chief Financial Officer (the Registrant’s Principal Financial Officer) have concluded that, based on their evaluation as of a date within 90 days of the filing date of this report, the disclosure controls and procedures of the Registrant (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are reasonably designed to achieve the purposes described in Section 4(a) of the certifications filed with this Form N-Q.

(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the Registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 3. Exhibits.

(a) Certifications of the President (the Registrant’s Principal Executive Officer) and Chief Financial Officer (the Registrant’s Principal Financial Officer) as required by Rule 30a-2(a) under the Investment Company Act of 1940 are filed with this Form N-Q as exhibits.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

iShares, Inc.

By:	/s/ Michael Latham
	Michael Latham, President (Principal Executive Officer)
Date:	March 27, 2013

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By:	/s/ Michael Latham
	Michael Latham, President (Principal Executive Officer)
Date:	March 27, 2013

By:	/s/ Jack Gee
	Jack Gee, Treasurer and Chief Financial Officer (Principal Financial Officer)
Date:	March 27, 2013

EX-99.CERT

EX-99.CERT

Form N-Q Exhibit for Item 3(a)

I, Michael Latham, certify that:

1. I have reviewed this report on Form N-Q for the following five series of iShares, Inc.: iShares Emerging Markets Corporate Bond Fund, iShares Emerging Markets High Yield Bond Fund, iShares Emerging Markets Local Currency Bond Fund, iShares Global ex USD High Yield Corporate Bond Fund and iShares Global High Yield Corporate Bond Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the Registrant as of the end of the fiscal quarter for which the report is filed;

4. The Registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, 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;

(c) Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5. The Registrant’s other certifying officer and I have disclosed to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Date: March 27, 2013	/s/ Michael Latham	President (Principal Executive Officer)
	Michael Latham [Signature]	[Title]

EX-99.CERT

Form N-Q Exhibit for Item 3(a)

I, Jack Gee, certify that:

1. I have reviewed this report on Form N-Q for the following five series of iShares, Inc.: iShares Emerging Markets Corporate Bond Fund, iShares Emerging Markets High Yield Bond Fund, iShares Emerging Markets Local Currency Bond Fund, iShares Global ex USD High Yield Corporate Bond Fund and iShares Global High Yield Corporate Bond Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the Registrant as of the end of the fiscal quarter for which the report is filed;

4. The Registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, 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;

(c) Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5. The Registrant’s other certifying officer and I have disclosed to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions):

(b) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize, and report financial information; and

(c) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Date: March 27, 2013	/s/ Jack Gee	Treasurer and Chief Financial Officer (Principal Financial Officer)
	Jack Gee [Signature]	[Title]