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 1 Iron Street, Boston, MA	02210
(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, 2014

Date of reporting period: July 31, 2014

Item 1. Schedules of Investments.

Schedule of Investments  (Unaudited)

iSHARES^® EMERGING MARKETS CORPORATE BOND ETF

July 31, 2014

Security	Principal (000s)		Value
CORPORATE BONDS & NOTESa — 93.98%
ARGENTINA — 0.25%
YPF SA
8.75%, 04/04/24b	$	30	$	31,200
8.88%, 12/19/18b		20		20,700
				51,900
BERMUDA — 3.09%
Digicel Ltd.
6.00%, 04/15/21 (Call 04/15/16)b		200		203,500
Li & Fung Ltd.
5.25%, 05/13/20b		100		107,827
Noble Group Ltd.
6.75%, 01/29/20b		100		112,000
Ooredoo International Finance Ltd.
5.00%, 10/19/25b		200		214,000
				637,327
BRAZIL — 7.01%
Banco Bradesco SA
5.90%, 01/16/21b		100		105,650
6.75%, 09/29/19b		150		168,375
Banco BTG Pactual SA
4.00%, 01/16/20b		200		193,500
Banco do Brasil SA
5.88%, 01/19/23b		200		204,000
Banco Votorantim SA
7.38%, 01/21/20b		100		111,125
Caixa Economica Federal
2.38%, 11/06/17b		150		145,125
Centrais Eletricas Brasileiras SA
6.88%, 07/30/19b		100		111,000
Itau Unibanco Holding SA
5.13%, 05/13/23b		200		199,250
6.20%, 04/15/20b		100		110,200
Telemar Norte Leste SA
5.50%, 10/23/20b		100		97,750
				1,445,975
BRITISH VIRGIN ISLANDS — 3.95%
CNOOC Finance 2012 Ltd.
5.00%, 05/02/42b		200		208,390
Gerdau Trade Inc.
5.75%, 01/30/21b		100		106,000
Sinochem Overseas Capital Co. Ltd.
4.50%, 11/12/20b		100		106,470
Sinopec Capital 2013 Ltd.
3.13%, 04/24/23b		200		187,836
Sinopec Group Overseas Development 2013 Ltd.
4.38%, 10/17/23b		200		206,399
				815,095

Security	Principal (000s)		Value
CANADA — 0.48%
Pacific Rubiales Energy Corp.
5.13%, 03/28/23 (Call 03/28/18)b	$	100	$	98,500
				98,500
CAYMAN ISLANDS — 14.96%
ADCB Finance (Cayman) Ltd.
2.50%, 03/06/18b		200		201,750
Agile Property Holdings Ltd.
8.88%, 04/28/17 (Call 09/02/14)b		100		104,260
Baidu Inc.
2.25%, 11/28/17		200		201,861
Country Garden Holdings Co. Ltd.
11.13%, 02/23/18 (Call 02/23/15)b		200		218,000
Hutchison Whampoa International Ltd.
4.63%, 09/11/15b		100		104,024
5.75%, 09/11/19b		100		114,661
7.63%, 04/09/19b		100		121,960
Marfrig Overseas Ltd.
9.50%, 05/04/20 (Call 05/04/15)b		100		105,970
Odebrecht Drilling Norbe VIII/IX Ltd.
6.35%, 06/30/21 (Call 06/30/20)b		177		187,090
Petrobras International Finance Co.
3.50%, 02/06/17		75		76,662
5.38%, 01/27/21		200		206,012
5.75%, 01/20/20		100		106,450
5.88%, 03/01/18		100		108,199
6.75%, 01/27/41		75		76,659
6.88%, 01/20/40		75		78,098
7.88%, 03/15/19		100		115,587
QNB Finance Ltd.
2.13%, 02/14/18b		200		200,750
Shimao Property Holdings Ltd.
6.63%, 01/14/20 (Call 01/14/17)b		200		198,500
Swire Pacific MTN Financing Ltd.
5.50%, 08/19/19b		100		112,006
Vale Overseas Ltd.
4.38%, 01/11/22		50		50,961
4.63%, 09/15/20		75		80,027
5.63%, 09/15/19		75		84,600
6.88%, 11/21/36		50		55,735
6.88%, 11/10/39		100		112,647
8.25%, 01/17/34		50		62,521
				3,084,990
CHILE — 3.12%
Banco del Estado de Chile
4.13%, 10/07/20b		150		157,557
Celulosa Arauco y Constitucion SA
4.75%, 01/11/22 (Call 10/11/21)		37		38,198
Cencosud SA
5.50%, 01/20/21b		150		158,047
Corporacion Nacional del Cobre de Chile
4.25%, 07/17/42b		200		182,915
Empresa Nacional del Petroleo
4.75%, 12/06/21b		100		105,363
				642,080

1

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS CORPORATE BOND ETF

July 31, 2014

Security	Principal (000s)		Value
COLOMBIA — 1.78%
Bancolombia SA
5.13%, 09/11/22	$	50	$	50,375
6.13%, 07/26/20c		147		159,495
Ecopetrol SA
5.88%, 05/28/45		50		52,250
7.63%, 07/23/19		87		104,858
				366,978
CURACAO — 0.23%
Teva Pharmaceutical Finance Co. BV
2.95%, 12/18/22		50		47,927
				47,927
HONG KONG — 1.61%
Bank of China Hong Kong Ltd.
5.55%, 02/11/20b		200		218,763
CITIC Pacific Ltd.
6.63%, 04/15/21b		100		113,500
				332,263
INDIA — 1.60%
Axis Bank Ltd.
4.75%, 05/02/16b		100		104,277
ICICI Bank Ltd.
5.00%, 01/15/16b		116		121,068
6.38%, 04/30/22 (Call 04/30/17)b,d		100		104,500
				329,845
INDONESIA — 0.92%
PT Pertamina (Persero) Tbk
5.63%, 05/20/43b		200		189,250
				189,250
IRELAND — 1.54%
AK Transneft OJSC Via TransCapitalInvest Ltd.
8.70%, 08/07/18b		100		115,250
Alfa Bank OJSC Via Alfa Bond Issuance PLC
7.88%, 09/25/17b		100		104,000
Vnesheconombank Via VEB Finance PLC
6.90%, 07/09/20b		100		98,750
				318,000
ISLE OF MAN — 0.24%
AngloGold Ashanti Holdings PLC
5.13%, 08/01/22		50		48,734
				48,734
ISRAEL — 1.11%
Israel Electric Corp. Ltd.
6.88%, 06/21/23b		200		229,500
				229,500

Security	Principal (000s)		Value
KAZAKHSTAN — 1.53%
KazMunayGas National Co. JSC
4.40%, 04/30/23b	$	200	$	199,500
7.00%, 05/05/20b		100		115,500
				315,000
LUXEMBOURG — 7.00%
CSN Resources SA
6.50%, 07/21/20b		100		102,500
Evraz Group SA
9.50%, 04/24/18b		100		104,000
Gazprom OAO Via Gaz Capital SA
7.29%, 08/16/37b		100		105,000
8.15%, 04/11/18b		100		111,000
9.25%, 04/23/19b		100		116,250
Millicom International Cellular SA
4.75%, 05/22/20 (Call 05/22/17)b		200		197,500
Rosneft Finance SA
7.25%, 02/02/20b		100		105,500
Russian Agricultural Bank OJSC Via RSHB Capital SA
6.30%, 05/15/17b		100		99,250
Sberbank of Russia Via SB Capital SA
6.13%, 02/07/22b		200		197,500
Severstal OAO Via Steel Capital SA
6.70%, 10/25/17b		100		105,966
VTB Bank OJSC Via VTB Capital SA
6.25%, 06/30/35b		100		102,500
6.55%, 10/13/20b		100		96,500
				1,443,466
MALAYSIA — 1.18%
Penerbangan Malaysia Bhd
5.63%, 03/15/16b		100		107,046
Petroliam Nasional Bhd
7.63%, 10/15/26b		100		136,160
				243,206
MEXICO — 10.14%
America Movil SAB de CV
5.00%, 10/16/19		125		139,002
5.00%, 03/30/20		100		109,630
6.13%, 03/30/40		100		117,734
Banco Santander Mexico SA
4.13%, 11/09/22b		150		152,025
BBVA Bancomer SA
7.25%, 04/22/20b		100		114,620
Coca-Cola FEMSA SAB de CV
3.88%, 11/26/23		150		153,765
Comision Federal Electricidad
4.88%, 01/15/24b		200		211,000
Grupo Bimbo SAB de CV
4.50%, 01/25/22b		100		104,982
Grupo Televisa SAB de CV CPO
6.63%, 01/15/40		56		68,358
Pemex Project Funding Master Trust
6.63%, 06/15/35		100		118,330
Petroleos Mexicanos
3.50%, 01/30/23		75		72,375
4.88%, 01/24/22		75		80,288

2

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS CORPORATE BOND ETF

July 31, 2014

Security	Principal (000s)		Value
5.50%, 01/21/21	$	150	$	165,795
5.50%, 06/27/44		75		77,423
5.75%, 03/01/18		100		111,250
6.38%, 01/23/45b		50		57,500
6.50%, 06/02/41		115		133,400
6.63%, 06/15/38		25		29,000
8.00%, 05/03/19		60		73,110
				2,089,587
MOROCCO — 1.02%
OCP SA
5.63%, 04/25/24b		200		209,500
				209,500
NETHERLANDS — 4.86%
Kazakhstan Temir Zholy Finance BV
6.38%, 10/06/20b		200		223,750
LUKOIL International Finance BV
6.66%, 06/07/22b		120		126,600
7.25%, 11/05/19b		100		108,875
Majapahit Holding BV
7.75%, 01/20/20b		120		141,750
Petrobras Global Finance BV
3.00%, 01/15/19		50		48,815
4.38%, 05/20/23c		100		95,046
6.25%, 03/17/24		50		52,779
VimpelCom Holdings BV
7.50%, 03/01/22b		200		203,740
				1,001,355
PERU — 0.53%
Banco de Credito del Peru
5.38%, 09/16/20b		100		108,625
				108,625
PHILIPPINES — 0.62%
Power Sector Assets & Liabilities Management Corp.
7.39%, 12/02/24b		100		128,250
				128,250
QATAR — 0.54%
Qatari Diar Finance QSC
5.00%, 07/21/20b		100		112,000
				112,000
SINGAPORE — 1.50%
Flextronics International Ltd.
4.63%, 02/15/20		100		101,250
Oversea-Chinese Banking Corp. Ltd.
3.75%, 11/15/22 (Call 11/15/17)b,d		100		103,010
PSA International Pte Ltd.
3.88%, 02/11/21b		100		105,860
				310,120

Security	Principal (000s)		Value
SOUTH AFRICA — 0.99%
Eskom Holdings Ltd.
5.75%, 01/26/21b	$	200	$	204,540
				204,540
SOUTH KOREA — 6.62%
Hana Bank
4.00%, 11/03/16b		200		211,217
Korea Development Bank (The)
3.25%, 03/09/16		100		103,440
3.88%, 05/04/17		200		212,021
Korea Electric Power Corp.
3.00%, 10/05/15b		100		102,398
Korea Finance Corp.
3.25%, 09/20/16		100		104,120
Korea Gas Corp.
4.25%, 11/02/20b		100		107,319
Korea National Oil Corp.
2.88%, 11/09/15b		100		102,409
National Agricultural Cooperative Federation
4.25%, 01/28/16b		100		104,348
POSCO
4.25%, 10/28/20b		100		105,673
Shinhan Bank
4.38%, 09/15/15b		100		103,766
Woori Bank Co. Ltd.
6.21%, 05/02/37 (Call 05/02/17)b,d		100		108,250
				1,364,961
THAILAND — 0.52%
Bangkok Bank PCL
4.80%, 10/18/20b		100		107,380
				107,380
TURKEY — 2.70%
Akbank TAS
6.50%, 03/09/18b		150		163,500
Turkiye Is Bankasi AS
3.88%, 11/07/17b		200		201,900
Yapi ve Kredi Bankasi AS
4.00%, 01/22/20b		200		191,800
				557,200
UNITED ARAB EMIRATES — 2.38%
Abu Dhabi National Energy Co.
5.88%, 10/27/16b		100		109,972
6.50%, 10/27/36b		100		120,500
Dolphin Energy Ltd.
5.89%, 06/15/19b		135		149,423
DP World Ltd.
6.85%, 07/02/37b		100		111,500
				491,395
UNITED KINGDOM — 1.69%
Standard Bank PLC
8.13%, 12/02/19b		100		118,000
Vedanta Resources PLC
9.50%, 07/18/18b		200		231,000
				349,000

3

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS CORPORATE BOND ETF

July 31, 2014

Security	Principal (000s)		Value
UNITED STATES — 4.32%
Cemex Finance LLC
9.38%, 10/12/22 (Call 10/12/17)b	$	200	$	228,000
Hyundai Capital America
2.13%, 10/02/17b		50		50,567
2.55%, 02/06/19b		100		101,035
JBS USA LLC/JBS USA Finance Inc.
7.25%, 06/01/21 (Call 06/01/15)b		86		92,020
NII Capital Corp.
7.63%, 04/01/21 (Call 04/01/16)		50		13,250
8.88%, 12/15/19 (Call 12/15/14)c		50		17,750
Reliance Holdings USA Inc.
5.40%, 02/14/22b		250		270,757
Southern Copper Corp.
7.50%, 07/27/35		100		117,405
				890,784
VENEZUELA — 3.95%
Petroleos de Venezuela SA
5.00%, 10/28/15		75		70,406
5.25%, 04/12/17b		75		63,188
5.38%, 04/12/27b		100		59,900
5.50%, 04/12/37b		50		28,500
6.00%, 05/16/24b		150		97,875
6.00%, 11/15/26b		175		108,150
8.50%, 11/02/17b		195		181,594
9.00%, 11/17/21b		75		63,750
9.75%, 05/17/35b		80		64,800
12.75%, 02/17/22b		75		75,187
				813,350
TOTAL CORPORATE BONDS & NOTES
(Cost: $19,528,140)				19,378,083
FOREIGN GOVERNMENT OBLIGATIONS — 3.47%
BRAZIL — 1.07%
Banco Nacional de Desenvolvimento Economico e Social
5.50%, 07/12/20b		100		107,750
6.50%, 06/10/19b		100		112,000
				219,750
CAYMAN ISLANDS — 1.35%
International Petroleum Investment Co.
5.00%, 11/15/20b		250		279,062
				279,062
SOUTH KOREA — 1.05%
Export-Import Bank of Korea (The)
4.38%, 09/15/21		200		215,944
				215,944
TOTAL FOREIGN GOVERNMENT OBLIGATIONS
(Cost: $702,260)				714,756

Security	Shares (000s)		Value
SHORT-TERM INVESTMENTS — 3.69%
MONEY MARKET FUNDS — 3.69%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.14%e,f,g		341	$	341,361
BlackRock Cash Funds: Prime, SL Agency Shares
0.12%e,f,g		36		35,599
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%e,f		384		384,407
				761,367
TOTAL SHORT-TERM INVESTMENTS
(Cost: $761,367)				761,367
TOTAL INVESTMENTS IN SECURITIES — 101.14%
(Cost: $20,991,767)				20,854,206
Other Assets, Less Liabilities — (1.14)%				(235,562	)
NET ASSETS — 100.00%			$	20,618,644

CPO  —  Certificates of Participation (Ordinary)

^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  All or a portion of this security represents a security on loan. See Note 1.

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

^e  Affiliated issuer. See Note 2.

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

^g  All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.

4

Schedule of Investments  (Unaudited)

iSHARES^® EMERGING MARKETS HIGH YIELD BOND ETF

July 31, 2014

Security	Principal (000s)		Value
CORPORATE BONDS & NOTESa — 41.38%
ARGENTINA — 0.45%
YPF SA
8.75%, 04/04/24	$	600	$	624,000
8.88%, 12/19/18b		300		310,500
				934,500
AUSTRIA — 0.51%
JBS Investments GmbH
7.25%, 04/03/24 (Call 04/03/19)b		400		413,000
7.75%, 10/28/20 (Call 10/28/17)b		600		643,500
				1,056,500
BARBADOS — 0.31%
Columbus International Inc.
7.38%, 03/30/21 (Call 03/30/18)		600		633,000
				633,000
BERMUDA — 1.33%
Digicel Group Ltd.
7.13%, 04/01/22 (Call 04/01/17)		600		609,000
8.25%, 09/30/20 (Call 09/30/16)b		900		969,750
Digicel Ltd.
6.00%, 04/15/21 (Call 04/15/16)b		1,000		1,017,500
8.25%, 09/01/17 (Call 09/02/14)b		130		132,925
				2,729,175
BRAZIL — 2.20%
Banco BTG Pactual SA
5.75%, 09/28/22b		500		489,400
Banco do Brasil SA
5.88%, 01/19/23b		400		408,000
Banco Votorantim SA
5.25%, 02/11/16b		200		207,800
Centrais Eletricas Brasileiras SA
5.75%, 10/27/21b		1,000		1,010,000
6.88%, 07/30/19b		600		666,000
Oi SA
5.75%, 02/10/22		800		764,000
Telemar Norte Leste SA
5.50%, 10/23/20		1,000		977,500
				4,522,700
BRITISH VIRGIN ISLANDS — 0.57%
Franshion Brilliant Ltd.
5.75%, 03/19/19b		200		206,750
Gold Fields Orogen Holding BVI Ltd.
4.88%, 10/07/20b		400		362,000

Security	Principal (000s)		Value
Trillion Chance Ltd.
8.50%, 01/10/19 (Call 01/10/17)b	$	600	$	612,293
				1,181,043
CANADA — 0.91%
Pacific Rubiales Energy Corp.
5.13%, 03/28/23 (Call 03/28/18)b		600		591,000
5.38%, 01/26/19 (Call 01/26/17)b		500		510,000
7.25%, 12/12/21 (Call 12/12/16)b		700		763,000
				1,864,000
CAYMAN ISLANDS — 4.22%
Agile Property Holdings Ltd.
8.38%, 02/18/19 (Call 02/18/17)b		400		412,346
8.88%, 04/28/17 (Call 09/02/14)b		800		834,080
9.88%, 03/20/17b		200		217,400
Country Garden Holdings Co. Ltd.
7.25%, 04/04/21 (Call 10/04/17)b		200		198,750
7.50%, 01/10/23 (Call 01/10/18)b		500		491,875
7.88%, 05/27/19		400		417,000
11.13%, 02/23/18 (Call 02/23/15)b		600		654,000
Evergrande Real Estate Group Ltd.
8.75%, 10/30/18 (Call 10/30/16)b		900		870,750
Fibria Overseas Finance Ltd.
5.25%, 05/12/24		350		347,025
Global A&T Electronics Ltd.
10.00%, 02/01/19 (Call 02/01/16)b		600		534,000
Greentown China Holdings Ltd.
8.50%, 02/04/18 (Call 02/04/16)b		400		404,000
Kaisa Group Holdings Ltd.
10.25%, 01/08/20 (Call 01/08/17)b		600		637,500
KWG Property Holding Ltd.
8.98%, 01/14/19 (Call 01/14/17)b		400		413,000
Marfrig Overseas Ltd.
9.50%, 05/04/20 (Call 05/04/15)b		400		423,880
MCE Finance Ltd.
5.00%, 02/15/21 (Call 02/15/16)b		600		595,500
Shimao Property Holdings Ltd.
6.63%, 01/14/20 (Call 01/14/17)b		600		595,500
8.13%, 01/22/21 (Call 01/22/18)b		200		208,500
9.65%, 08/03/17 (Call 08/03/14)b		200		209,150
SOHO China Ltd.
5.75%, 11/07/17 (Call 11/07/15)b		200		204,750
				8,669,006
COLOMBIA — 0.70%
Banco Davivienda SA
5.88%, 07/09/22b		200		203,500
Bancolombia SA
5.13%, 09/11/22		800		806,000
6.13%, 07/26/20		400		434,000
				1,443,500
HONG KONG — 1.40%
China CITIC Bank International Ltd.
6.88%, 06/24/20b		300		332,067
CITIC Pacific Ltd.
6.38%, 04/10/20b		200		223,500

5

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS HIGH YIELD BOND ETF

July 31, 2014

Security	Principal (000s)		Value
6.63%, 04/15/21b	$	700	$	794,500
6.80%, 01/17/23b		400		461,500
6.88%, 01/21/18b		800		891,000
Yancoal International Resources Development Co. Ltd.
5.73%, 05/16/22b		200		185,500
				2,888,067
INDIA — 0.73%
ICICI Bank Ltd.
6.38%, 04/30/22 (Call 04/30/17)b,c		654		683,430
IDBI Bank Ltd.
3.75%, 01/25/19b		200		197,506
IDBI Bank Ltd/DIFC Dubai
4.38%, 03/26/18b		600		612,066
				1,493,002
INDONESIA — 3.04%
PT Pertamina (Persero) Tbk
4.30%, 05/20/23b		1,900		1,824,000
5.25%, 05/23/21b		400		416,500
5.63%, 05/20/43b		1,200		1,135,500
6.00%, 05/03/42b		600		590,250
6.45%, 05/30/44b		800		838,000
PT Perusahaan Gas Negara (Persero) Tbk
5.13%, 05/16/24b		600		607,500
5.25%, 10/24/42b		700		630,000
5.50%, 11/22/21b		200		211,750
				6,253,500
IRELAND — 3.13%
Alfa Bank OJSC Via Alfa Bond Issuance PLC
7.50%, 09/26/19b		400		386,000
7.75%, 04/28/21b		500		505,700
7.88%, 09/25/17b		600		624,000
Credit Bank of Moscow
7.70%, 02/01/18b		200		193,500
Gazprombank OAO Via GPB Eurobond Finance PLC
7.50%, 12/28/23 (Call 12/28/18)b,c		400		372,000
Metalloinvest Finance Ltd.
5.63%, 04/17/20b		600		547,500
6.50%, 07/21/16b		400		405,000
Mobile Telesystems OJSC via MTS International Funding Ltd.
5.00%, 05/30/23b		400		371,000
8.63%, 06/22/20b		200		230,960
Nomos Bank OJSC Via Nomos Capital PLC
7.25%, 04/25/18b		400		394,000
Novolipetsk Steel OJSC Via Steel Funding Ltd.
4.45%, 02/19/18b		400		389,500
Sibur Securities Ltd.
3.91%, 01/31/18b		700		637,000
Vimpel Communications Via VIP Finance Ireland Ltd. OJSC
7.75%, 02/02/21b		600		615,750
9.13%, 04/30/18b		700		763,000
				6,434,910
ISLE OF MAN — 0.39%
AngloGold Ashanti Holdings PLC
5.13%, 08/01/22		500		487,344

Security	Principal (000s)		Value
5.38%, 04/15/20	$	300	$	306,437
				793,781
KAZAKHSTAN — 0.50%
BTA Bank JSC
5.50%, 12/21/22b		500		376,350
Halyk Savings Bank of Kazakhstan JSC
7.25%, 05/03/17b		400		433,000
7.25%, 01/28/21b		200		220,540
				1,029,890
LUXEMBOURG — 3.25%
ALROSA Finance SA
7.75%, 11/03/20b		600		639,000
CSN Resources SA
6.50%, 07/21/20b		600		615,000
Evraz Group SA
6.50%, 04/22/20b		800		711,000
8.25%, 11/10/15b		400		410,836
9.50%, 04/24/18b		600		624,000
Millicom International Cellular SA
4.75%, 05/22/20 (Call 05/22/17)b		400		395,000
6.63%, 10/15/21 (Call 10/15/17)b		200		212,500
Minerva Luxembourg SA
7.75%, 01/31/23 (Call 01/31/18)b		400		428,500
Promsvyazbank OJSC via PSB Finance SA
10.20%, 11/06/19b		400		394,000
Russian Standard Bank
9.25%, 07/11/17b		100		98,500
Severstal OAO Via Steel Capital SA
5.90%, 10/17/22b		400		388,000
6.70%, 10/25/17b		500		529,830
TMK OAO Via TMK Capital SA
6.75%, 04/03/20b		200		184,750
7.75%, 01/27/18b		300		300,000
VTB Bank OJSC Via VTB Capital SA
6.95%, 10/17/22b		800		754,600
				6,685,516
MEXICO — 2.49%
Banco Santander Mexico SA
5.95%, 01/30/24 (Call 01/30/19)b,c		800		848,000
BBVA Bancomer SA
7.25%, 04/22/20b		600		687,720
Cemex SAB de CV
5.88%, 03/25/19 (Call 03/25/16)b		400		407,000
6.50%, 12/10/19 (Call 12/10/17)b		400		417,500
7.25%, 01/15/21 (Call 01/15/18)b		500		530,000
9.00%, 01/11/18 (Call 01/11/15)b		600		636,000
9.50%, 06/15/18 (Call 06/15/16)		400		446,000
Empresas ICA SAB CV
8.88%, 05/29/24 (Call 05/29/19)		400		409,000
8.90%, 02/04/21 (Call 02/04/16)		300		315,000
Mexichem SAB de CV
4.88%, 09/19/22b		400		418,000
				5,114,220

6

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS HIGH YIELD BOND ETF

July 31, 2014

Security	Principal (000s)		Value
NETHERLANDS — 3.19%
Majapahit Holding BV
7.75%, 10/17/16b	$	800	$	898,000
7.75%, 01/20/20b		1,000		1,181,250
7.88%, 06/29/37b		200		241,500
8.00%, 08/07/19		200		237,750
Marfrig Holding Europe BV
8.38%, 05/09/18b		600		631,500
Metinvest BV
8.75%, 02/14/18b		500		418,850
VimpelCom Holdings BV
5.20%, 02/13/19b		400		384,000
5.95%, 02/13/23b		500		463,750
6.25%, 03/01/17b		400		405,000
7.50%, 03/01/22b		650		662,155
VTR Finance BV
6.88%, 01/15/24 (Call 01/15/19)b		1,000		1,036,250
				6,560,005
SINGAPORE — 0.22%
Flextronics International Ltd.
5.00%, 02/15/23		450		456,750
				456,750
SOUTH KOREA — 0.37%
Woori Bank Co. Ltd.
6.21%, 05/02/37 (Call 05/02/17)b,c		700		757,750
				757,750
SPAIN — 0.45%
Cemex Espana SA (Luxembourg)
9.25%, 05/12/20 (Call 05/12/15)		600		649,500
9.88%, 04/30/19 (Call 04/30/16)b		250		280,000
				929,500
SRI LANKA — 0.30%
Bank of Ceylon
5.33%, 04/16/18b		200		203,000
6.88%, 05/03/17b		400		425,000
				628,000
TURKEY — 0.92%
Finansbank AS
5.50%, 05/11/16		200		206,200
Turkiye Is Bankasi AS
6.00%, 10/24/22b		500		506,250
Turkiye Vakiflar Bankasi Tao
6.00%, 11/01/22b		600		600,000
Yapi ve Kredi Bankasi AS
5.50%, 12/06/22b		600		581,100
				1,893,550
UNITED KINGDOM — 1.34%
Oschadbank Via SSB #1 PLC
8.25%, 03/10/16b		400		366,080

Security	Principal (000s)		Value
Vedanta Resources PLC
6.00%, 01/31/19b	$	800	$	822,000
6.75%, 06/07/16b		200		209,900
7.13%, 05/31/23b		200		211,250
8.25%, 06/07/21b		600		679,500
9.50%, 07/18/18b		400		462,000
				2,750,730
UNITED STATES — 1.56%
Cemex Finance LLC
6.00%, 04/01/24 (Call 04/01/19)		200		200,000
9.38%, 10/12/22 (Call 10/12/17)b		1,100		1,254,000
JBS USA LLC/JBS USA Finance Inc.
7.25%, 06/01/21 (Call 06/01/15)b		450		481,500
8.25%, 02/01/20 (Call 02/01/15)b		800		864,000
NII Capital Corp.
7.63%, 04/01/21 (Call 04/01/16)		750		198,750
8.88%, 12/15/19 (Call 12/15/14)		300		106,500
10.00%, 08/15/16 (Call 09/02/14)		420		113,400
				3,218,150
VENEZUELA — 6.90%
Petroleos de Venezuela SA
5.00%, 10/28/15		800		751,000
Series 2016
5.13%, 10/28/16		600		527,400
5.25%, 04/12/17b		1,700		1,432,250
5.38%, 04/12/27b		1,570		940,430
5.50%, 04/12/37b		920		524,400
6.00%, 05/16/24b		1,500		945,000
6.00%, 11/15/26b		2,800		1,730,400
8.50%, 11/02/17b		3,400		3,166,250
9.00%, 11/17/21b		1,250		1,062,500
9.75%, 05/17/35b		1,850		1,498,500
12.75%, 02/17/22b		1,600		1,604,000
				14,182,130
TOTAL CORPORATE BONDS & NOTES
(Cost: $85,357,938)				85,102,875
FOREIGN GOVERNMENT OBLIGATIONSa — 55.90%
ARGENTINA — 2.33%
Argentine Republic Government International Bond
2.50%, 12/31/38d,e		2,880		1,563,840
8.28%, 12/31/33e		743		653,910
8.28%, 12/31/33e		2,341		2,089,703
8.75%, 06/02/17e		550		486,200
				4,793,653
BELARUS — 0.26%
Republic of Belarus
8.95%, 01/26/18b		500		535,000
				535,000

7

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS HIGH YIELD BOND ETF

July 31, 2014

Security	Principal (000s)		Value
COSTA RICA — 0.93%
Costa Rica Government International Bond
4.25%, 01/26/23b	$	600	$	565,500
4.38%, 04/30/25b		600		553,500
5.63%, 04/30/43b		200		174,000
7.00%, 04/04/44b		600		630,000
				1,923,000
CROATIA — 2.71%
Croatia Government International Bond
5.50%, 04/04/23b		1,000		1,035,000
6.00%, 01/26/24b		800		854,000
6.25%, 04/27/17b		900		966,375
6.38%, 03/24/21b		900		985,500
6.63%, 07/14/20b		200		222,500
6.75%, 11/05/19b		1,350		1,503,562
				5,566,937
DOMINICAN REPUBLIC — 1.21%
Dominican Republic International Bond
5.88%, 04/18/24b		600		621,000
6.60%, 01/28/24b		200		218,000
7.45%, 04/30/44b		700		745,500
7.50%, 05/06/21b		800		914,000
				2,498,500
ECUADOR — 0.20%
Ecuador Government International Bond
9.38%, 12/15/15b		400		420,000
				420,000
EGYPT — 0.45%
Egypt Government International Bond
5.75%, 04/29/20b		600		624,000
6.88%, 04/30/40b		300		292,560
				916,560
EL SALVADOR — 1.08%
El Salvador Government International Bond
5.88%, 01/30/25b		600		598,500
7.63%, 02/01/41b		450		483,750
7.65%, 06/15/35b		500		545,000
7.75%, 01/24/23b		120		135,300
8.25%, 04/10/32b		400		467,032
				2,229,582
GUATEMALA — 0.36%
Guatemala Government Bond
4.88%, 02/13/28b		300		301,500
5.75%, 06/06/22b		400		431,000
				732,500

Security	Principal (000s)		Value
HUNGARY — 4.41%
Hungary Government International Bond
4.00%, 03/25/19	$	800	$	822,376
4.13%, 02/19/18		900		933,750
5.38%, 02/21/23		1,300		1,384,500
5.38%, 03/25/24		900		951,750
5.75%, 11/22/23		900		978,750
6.25%, 01/29/20		1,200		1,350,300
6.38%, 03/29/21		1,500		1,710,000
7.63%, 03/29/41		732		931,470
				9,062,896
INDONESIA — 8.37%
Indonesia Government International Bond
3.38%, 04/15/23b		900		852,750
3.75%, 04/25/22b		1,200		1,179,000
4.63%, 04/15/43b		1,300		1,179,750
4.88%, 05/05/21b		1,900		2,016,375
5.25%, 01/17/42b		1,000		985,000
5.38%, 10/17/23b		400		434,000
5.88%, 03/13/20b		600		670,500
5.88%, 01/15/24b		1,000		1,123,750
6.63%, 02/17/37b		400		462,000
6.75%, 01/15/44b		1,000		1,193,750
6.88%, 01/17/18b		1,000		1,137,500
7.50%, 01/15/16b		1,000		1,083,800
7.75%, 01/17/38b		1,400		1,813,000
8.50%, 10/12/35b		1,050		1,451,625
11.63%, 03/04/19b		1,200		1,626,000
				17,208,800
JAMAICA — 0.35%
Jamaica Government International Bond
8.00%, 06/24/19		400		429,000
8.00%, 03/15/39		300		287,250
				716,250
LEBANON — 2.76%
Lebanon Government International Bond
4.75%, 11/02/16b		300		303,000
5.15%, 11/12/18b		650		655,363
6.00%, 05/20/19b		200		207,250
6.15%, 06/19/20b		400		407,402
6.38%, 03/09/20		1,000		1,048,000
8.25%, 04/12/21b		1,300		1,495,000
8.50%, 01/19/16b		330		352,275
9.00%, 03/20/17		1,080		1,211,760
				5,680,050
MOROCCO — 0.58%
Morocco Government International Bond
4.25%, 12/11/22b		800		799,000
5.50%, 12/11/42b		400		395,248
				1,194,248

8

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS HIGH YIELD BOND ETF

July 31, 2014

Security	Principal (000s)		Value
NIGERIA — 0.42%
Nigeria Government International Bond
5.13%, 07/12/18b	$	400	$	417,240
6.38%, 07/12/23b		200		216,910
6.75%, 01/28/21b		200		221,000
				855,150
PAKISTAN — 0.89%
Pakistan Government International Bond
6.88%, 06/01/17b		400		414,080
7.13%, 03/31/16b		300		311,310
7.25%, 04/15/19b		600		624,000
8.25%, 04/15/24b		450		479,340
				1,828,730
SERBIA — 1.52%
Republic of Serbia
4.88%, 02/25/20b		1,000		1,022,500
5.25%, 11/21/17b		400		417,000
5.88%, 12/03/18b		500		533,125
7.25%, 09/28/21b		1,000		1,153,750
				3,126,375
SLOVENIA — 2.64%
Slovenia Government International Bond
4.13%, 02/18/19b		600		624,312
4.75%, 05/10/18b		600		642,000
5.25%, 02/18/24b		1,000		1,069,380
5.50%, 10/26/22b		1,400		1,526,000
5.85%, 05/10/23b		1,400		1,561,000
				5,422,692
SRI LANKA — 1.31%
Sri Lanka Government International Bond
5.88%, 07/25/22b		400		413,000
6.00%, 01/14/19b		800		848,000
6.25%, 10/04/20b		1,050		1,115,625
6.25%, 07/27/21b		299		316,940
				2,693,565
TURKEY — 12.64%
Turkey Government International Bond
3.25%, 03/23/23		1,000		930,450
4.88%, 04/16/43		700		661,500
5.13%, 03/25/22		642		679,076
5.38%, 11/04/16b		400		421,240
5.63%, 03/30/21		1,150		1,259,112
5.75%, 03/22/24		1,400		1,536,500
5.88%, 04/24/19b		200		214,740
6.00%, 01/14/41		1,600		1,719,392
6.25%, 09/26/22		1,400		1,594,180
6.63%, 02/17/45		800		927,000
6.75%, 04/03/18		1,250		1,406,250
6.75%, 05/30/40		1,200		1,407,300
6.88%, 03/17/36		1,420		1,695,125
7.00%, 09/26/16		1,100		1,211,375

Security	Principal (000s)		Value
7.00%, 03/11/19	$	800	$	920,000
7.00%, 06/05/20		1,400		1,634,139
7.25%, 03/05/38		610		761,127
7.38%, 02/05/25		1,920		2,344,320
7.50%, 07/14/17		1,000		1,137,444
7.50%, 11/07/19		750		888,225
8.00%, 02/14/34		863		1,147,790
11.88%, 01/15/30		860		1,493,158
				25,989,443
UKRAINE — 2.55%
Ukraine Government International Bond
6.25%, 06/17/16b		800		770,000
6.58%, 11/21/16b		600		573,000
6.75%, 11/14/17b		300		285,150
6.88%, 09/23/15b		300		290,700
7.50%, 04/17/23b		700		658,000
7.75%, 09/23/20b		900		859,500
7.80%, 11/28/22b		1,200		1,149,000
7.95%, 02/23/21b		700		667,660
				5,253,010
VENEZUELA — 7.44%
Venezuela Government International Bond
5.75%, 02/26/16b		775		733,538
6.00%, 12/09/20b		980		739,900
7.00%, 12/01/18b		550		465,850
7.00%, 03/31/38b		650		447,850
7.65%, 04/21/25		850		637,500
7.75%, 10/13/19b		1,400		1,183,000
8.25%, 10/13/24b		1,350		1,056,375
9.00%, 05/07/23b		1,080		904,500
9.25%, 09/15/27		2,220		1,864,800
9.25%, 05/07/28b		1,050		855,750
9.38%, 01/13/34		810		658,125
11.75%, 10/21/26b		1,600		1,518,400
11.95%, 08/05/31b		2,245		2,127,137
12.75%, 08/23/22b		1,600		1,624,000
13.63%, 08/15/18		450		482,175
				15,298,900
VIETNAM — 0.49%
Vietnam Government International Bond
6.75%, 01/29/20b		600		678,750
6.88%, 01/15/16b		300		320,625
				999,375
TOTAL FOREIGN GOVERNMENT OBLIGATIONS
(Cost: $114,422,052)				114,945,216

9

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS HIGH YIELD BOND ETF

July 31, 2014

Security	Shares (000s)		Value
SHORT-TERM INVESTMENTS — 0.69%
MONEY MARKET FUNDS — 0.69%
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%f,g		1,420	$	1,419,852
				1,419,852
TOTAL SHORT-TERM INVESTMENTS
(Cost: $1,419,852)				1,419,852
TOTAL INVESTMENTS IN SECURITIES — 97.97%
(Cost: $201,199,842)				201,467,943
Other Assets, Less Liabilities — 2.03%				4,175,456
NET ASSETS — 100.00%			$	205,643,399

^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  Issuer is in default of interest payments.

^f  Affiliated issuer. See Note 2.

^g  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^® EMERGING MARKETS LOCAL CURRENCY BOND ETF

July 31, 2014

Security	Principal (000s)				Value
FOREIGN GOVERNMENT OBLIGATIONS — 100.52%
BRAZIL — 15.81%
Brazil Letras do Tesouro Nacional
0.00%, 10/01/14		BRL	$	4,576	$	1,984,122
0.00%, 01/01/15		BRL		24,955		10,536,745
0.00%, 07/01/15		BRL		61,400		24,629,559
0.00%, 01/01/16		BRL		15,200		5,761,329
0.00%, 04/01/16		BRL		16,000		5,896,893
0.00%, 07/01/16		BRL		35,680		12,780,743
0.00%, 01/01/17		BRL		14,296		4,837,233
Brazil Notas do Tesouro Nacional Series F
10.00%, 01/01/15		BRL		4,398		1,931,315
10.00%, 01/01/18		BRL		19,339		8,153,249
10.00%, 01/01/21		BRL		35,368		14,393,095
10.00%, 01/01/23		BRL		4,301		1,718,925
Brazilian Government International Bond
8.50%, 01/05/24		BRL		500		205,217
10.25%, 01/10/28		BRL		1,420		636,083
12.50%, 01/05/16		BRL		1,400		636,392
12.50%, 01/05/22		BRL		1,633		825,184
						94,926,084
CHILE — 0.07%
Chile Government International Bond
5.50%, 08/05/20		CLP		237,000		437,119
						437,119
COLOMBIA — 4.31%
Colombia Government International Bond
7.75%, 04/14/21a		COP		496,000		296,666
8.00%, 10/28/15		COP		20,773,000		11,476,718
9.85%, 06/28/27a		COP		2,998,000		2,060,526
Colombian TES
6.00%, 04/28/28		COP		1,153,000		555,236
7.50%, 08/26/26		COP		13,009,800		7,189,073
10.00%, 07/24/24		COP		4,150,000		2,731,513
11.25%, 10/24/18		COP		2,457,000		1,553,768
						25,863,500
CZECH REPUBLIC — 3.83%
Czech Republic Government Bond
3.80%, 04/11/15		CZK		91,940		4,559,126
4.00%, 04/11/17		CZK		50,400		2,682,056
4.20%, 12/04/36		CZK		50,930		3,013,233
4.60%, 08/18/18		CZK		101,550		5,714,424
5.70%, 05/25/24		CZK		76,240		5,105,073
6.95%, 01/26/16		CZK		36,000		1,915,771
						22,989,683
HUNGARY — 2.75%
Hungary Government Bond
5.50%, 02/12/16		HUF		1,251,650		5,576,497

Security	Principal (000s)			Value
6.00%, 11/24/23		HUF	202,740	$	952,120
6.50%, 06/24/19		HUF	844,250		4,007,225
6.75%, 11/24/17		HUF	222,000		1,047,248
7.00%, 06/24/22		HUF	641,000		3,176,753
7.50%, 11/12/20		HUF	222,500		1,119,176
7.75%, 08/24/15		HUF	146,290		659,085
					16,538,104
INDONESIA — 4.28%
Indonesia Treasury Bond
6.63%, 05/15/33		IDR	22,700,000		1,593,069
7.00%, 05/15/22		IDR	6,780,000		550,482
8.25%, 06/15/32		IDR	34,060,000		2,836,004
8.38%, 09/15/26		IDR	6,000,000		518,247
9.50%, 06/15/15		IDR	3,791,000		334,649
9.50%, 07/15/31		IDR	107,554,000		10,009,884
10.00%, 07/15/17		IDR	53,784,000		4,935,910
10.00%, 09/15/24		IDR	7,060,000		684,809
11.00%, 11/15/20		IDR	22,885,000		2,271,204
11.00%, 09/15/25		IDR	19,220,000		1,983,839
					25,718,097
ISRAEL — 4.46%
Israel Government Bond — Fixed
3.50%, 08/31/14		ILS	16,450		4,811,865
4.00%, 01/31/18		ILS	5,950		1,898,414
4.25%, 03/31/23		ILS	13,878		4,566,923
5.50%, 01/31/22		ILS	3,150		1,118,760
5.50%, 01/31/42		ILS	3,582		1,300,828
6.00%, 02/28/19		ILS	37,490		13,087,977
					26,784,767
MALAYSIA — 4.43%
Malaysia Government Bond
3.49%, 03/31/20		MYR	6,899		2,129,537
3.73%, 06/15/28		MYR	1,800		535,737
3.84%, 08/12/15		MYR	30,537		9,619,728
4.13%, 04/15/32		MYR	7,400		2,265,081
4.39%, 04/15/26		MYR	3,660		1,179,090
5.73%, 07/30/19		MYR	31,870		10,891,543
					26,620,716
MEXICO — 7.63%
Mexican Bonos
6.25%, 06/16/16		MXN	45,346		3,607,569
6.50%, 06/10/21		MXN	59,936		4,813,448
7.25%, 12/15/16		MXN	144,781		11,837,975
7.50%, 06/03/27		MXN	32,737		2,769,250
7.75%, 12/14/17		MXN	48,350		4,050,662
7.75%, 11/13/42		MXN	29,961		2,513,856
8.00%, 12/07/23		MXN	81,383		7,118,942
8.50%, 11/18/38		MXN	29,330		2,657,913
10.00%, 12/05/24		MXN	64,800		6,459,639
					45,829,254

11

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS LOCAL CURRENCY BOND ETF

July 31, 2014

Security	Principal (000s)			Value
NIGERIA — 0.65%
Nigeria Government Bond
4.00%, 04/23/15		NGN	205,271	$	1,208,804
10.00%, 07/23/30		NGN	162,000		847,933
15.10%, 04/27/17		NGN	186,700		1,260,427
16.39%, 01/27/22		NGN	75,000		562,848
					3,880,012
PERU — 0.91%
Peru Government Bond
6.85%, 02/12/42		PEN	2,900		1,069,778
8.20%, 08/12/26		PEN	9,937		4,385,508
					5,455,286
PHILIPPINES — 3.60%
Philippine Government Bond
4.00%, 12/06/22		PHP	68,000		1,552,427
5.00%, 08/18/18		PHP	85,070		2,089,478
7.00%, 01/27/16		PHP	216,246		5,292,308
8.00%, 07/19/31		PHP	157,300		5,082,910
8.13%, 12/16/35		PHP	159,860		4,950,872
Philippine Government International Bond
4.95%, 01/15/21		PHP	49,000		1,211,477
6.25%, 01/14/36		PHP	57,000		1,420,739
					21,600,211
POLAND — 4.00%
Poland Government Bond
0.00%, 07/25/15		PLN	7,145		2,236,073
0.00%, 01/25/16		PLN	8,455		2,611,119
3.75%, 04/25/18		PLN	15,000		4,961,893
4.00%, 10/25/23		PLN	9,500		3,181,776
4.75%, 10/25/16		PLN	10,657		3,579,862
5.25%, 10/25/20		PLN	4,000		1,436,788
5.75%, 09/23/22		PLN	16,124		6,030,235
					24,037,746
ROMANIA — 2.02%
Romania Government Bond
5.75%, 01/27/16		RON	10,810		3,426,708
5.85%, 04/26/23		RON	6,000		2,051,229
5.90%, 07/26/17		RON	5,100		1,669,366
6.75%, 06/11/17		RON	5,650		1,882,742
Romanian Government International Bond
4.75%, 08/29/16		RON	9,800		3,100,295
					12,130,340
RUSSIA — 4.09%
Russian Federal Bond - OFZ
6.20%, 01/31/18		RUB	121,380		3,110,463
6.80%, 12/11/19		RUB	46,500		1,172,681
6.88%, 07/15/15		RUB	170,893		4,720,231
7.40%, 04/19/17		RUB	142,140		3,803,767
7.60%, 04/14/21		RUB	221,456		5,706,021
8.10%, 11/26/14		RUB	50,000		1,398,983
8.15%, 02/03/27		RUB	162,635		4,210,951

Security	Principal (000s)			Value
Russian Foreign Bond - Eurobond
7.85%, 03/10/18a		RUB	15,000	$	402,882
					24,525,979
SOUTH AFRICA — 4.34%
South Africa Government Bond
6.25%, 03/31/36a		ZAR	43,064		2,995,091
6.50%, 02/28/41		ZAR	81,983		5,733,673
6.75%, 03/31/21a		ZAR	53,460		4,704,869
8.25%, 09/15/17a		ZAR	103,711		9,971,660
8.75%, 02/28/48a		ZAR	13,000		1,170,491
10.50%, 12/21/26a		ZAR	6,000		653,379
13.50%, 09/15/15a		ZAR	8,000		799,478
					26,028,641
SOUTH KOREA — 24.66%
Korea Monetary Stabilization Bond
2.74%, 02/02/15		KRW	29,859,000		29,097,600
2.82%, 08/02/14		KRW	19,353,190		18,828,808
2.84%, 12/02/14		KRW	11,204,000		10,916,120
Korea Treasury Bond
2.75%, 09/10/17		KRW	5,502,380		5,381,931
3.00%, 12/10/42		KRW	3,025,970		2,771,257
3.13%, 03/10/19		KRW	6,500,000		6,422,912
4.00%, 03/10/16		KRW	10,471,600		10,436,350
4.00%, 12/10/31		KRW	14,305,490		15,365,058
4.75%, 12/10/30		KRW	4,743,000		5,515,650
5.00%, 06/10/20		KRW	8,100,000		8,787,812
5.25%, 09/10/15		KRW	11,702,460		11,733,542
5.25%, 03/10/27		KRW	5,000,000		5,932,140
5.50%, 09/10/17		KRW	4,274,600		4,518,180
5.50%, 12/10/29		KRW	4,354,040		5,423,477
5.75%, 09/10/18		KRW	6,400,000		6,955,972
					148,086,809
THAILAND — 4.39%
Thailand Government Bond
3.13%, 12/11/15		THB	320,206		10,088,434
3.58%, 12/17/27		THB	93,640		2,873,007
3.63%, 05/22/15		THB	—		—
3.78%, 06/25/32		THB	44,242		1,346,012
3.80%, 06/14/41		THB	30,000		884,874
3.88%, 06/13/19		THB	33,600		1,084,660
4.88%, 06/22/29		THB	35,600		1,246,421
5.67%, 03/13/28		THB	189,234		7,105,439
6.15%, 07/07/26		THB	45,029		1,729,907
					26,358,754
TURKEY — 4.29%
Turkey Government Bond
6.30%, 02/14/18		TRY	15,360		6,716,398
7.50%, 09/24/14		TRY	4,521		2,104,383
8.50%, 09/14/22		TRY	6,772		3,100,065
8.80%, 09/27/23		TRY	6,384		2,973,040
9.00%, 01/27/16		TRY	23,119		10,890,543
					25,784,429
TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost: $617,031,490)					603,595,531

12

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS LOCAL CURRENCY BOND ETF

July 31, 2014

Security	Shares (000s)		Value
SHORT-TERM INVESTMENTS — 0.01%
MONEY MARKET FUNDS — 0.01%
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%b,c		42	$	42,105
				42,105
TOTAL SHORT-TERM INVESTMENTS (Cost: $42,105)				42,105
TOTAL INVESTMENTS IN SECURITIES — 100.53% (Cost: $617,073,595)				603,637,636
Other Assets, Less Liabilities — (0.53)%				(3,191,209)
NET ASSETS — 100.00%			$	600,446,427

BRL	—  Brazilian Real
CLP	—  Chilean Peso
COP	—  Colombian Peso
CZK	—  Czech Koruna
HUF	—  Hungarian Forint
IDR	—  Indonesian Rupiah
ILS	—  Israeli Shekel
KRW	—  South Korean Won
MXN	—  Mexican Peso
MYR	—  Malaysian Ringgit
NGN	—  Nigerian Naira
PEN	—  Peru Nuevo
PHP	—  Philippine Peso
PLN	—  Polish Zloty
RON	—  Romanian Leu
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.

13

Schedule of Investments  (Unaudited)

iSHARES^® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF

July 31, 2014

Security	Principal (000s)			Value
CORPORATE BONDS & NOTES — 96.91%
AUSTRIA — 0.32%
BAWAG PSK
8.13%, 10/30/23a		EUR	200	$	327,502
Wienerberger AG
4.00%, 04/17/20		EUR	200		286,065
					613,567
BELGIUM — 0.23%
Barry Callebaut Services NV
5.63%, 06/15/21a		EUR	100		156,559
6.00%, 07/13/17		EUR	200		300,883
					457,442
CANADA — 3.65%
Air Canada
7.63%, 10/01/19 (Call 10/01/16)b		CAD	150		147,428
Armtec Holdings Ltd.
8.88%, 09/22/17 (Call 09/02/14)		CAD	63		40,219
Athabasca Oil Corp.
7.50%, 11/19/17 (Call 11/19/14)a		CAD	200		181,877
7.50%, 11/19/17 (Call 11/19/14)b		CAD	150		132,963
Baytex Energy Corp.
6.63%, 07/19/22 (Call 07/19/17)		CAD	200		197,492
Bombardier Inc.
6.13%, 05/15/21a		EUR	500		728,374
Brookfield Office Properties Inc.
4.00%, 04/16/18		CAD	100		93,924
Canadian Energy Services & Technology Corp.
7.38%, 04/17/20 (Call 04/17/17)		CAD	100		97,139
Cascades Inc.
5.50%, 07/15/21 (Call 07/15/17)b		CAD	200		180,836
Centric Health Corp.
8.63%, 04/18/18 (Call 04/18/16)		CAD	80		62,646
Connacher Oil and Gas Ltd.
8.75%, 08/01/18 (Call 08/01/15)b		CAD	150		107,473
Corus Entertainment Inc.
4.25%, 02/11/20a		CAD	400		364,672
Crew Energy Inc.
8.38%, 10/21/20 (Call 10/21/16)a		CAD	50		49,258
Gateway Casinos & Entertainment Ltd.
8.50%, 11/26/20 (Call 11/26/16)b		CAD	100		93,464
GFL Environmental Corp.
7.50%, 06/18/18 (Call 06/18/15)a		CAD	450		426,790
Gibson Energy Inc.
5.38%, 07/15/22 (Call 07/15/17)b		CAD	200		183,714
7.00%, 07/15/20 (Call 07/15/16)b		CAD	100		99,665
Great Canadian Gaming Corp.
6.63%, 07/25/22 (Call 07/25/17)b		CAD	325		314,208
Iron Mountain Canada Operations ULC
6.13%, 08/15/21 (Call 08/15/17)		CAD	100		94,613
Mattamy Group Corp.
6.88%, 11/15/20 (Call 11/15/15)b		CAD	100		93,924

Security	Principal (000s)			Value
Newalta Corp. Series 2
7.75%, 11/14/19 (Call 11/14/15)		CAD	50	$	49,488
NRL Energy Investments Ltd.
8.25%, 04/13/18 (Call 04/13/15)		CAD	100		83,590
Paramount Resources Ltd.
7.63%, 12/04/19 (Call 12/04/15)		CAD	400		387,192
8.25%, 12/13/17 (Call 09/02/14)		CAD	250		239,060
Parkland Fuel Corp.
5.50%, 05/28/21 (Call 05/28/17)		CAD	400		373,857
Perpetual Energy Inc.
8.75%, 03/15/18 (Call 03/15/15)a		CAD	50		45,928
Postmedia Network Inc.
8.25%, 08/16/17 (Call 08/16/15)b		CAD	136		128,558
Precision Drilling Corp.
6.50%, 03/15/19 (Call 03/15/15)		CAD	100		96,564
Quebecor Media Inc.
6.63%, 01/15/23b		CAD	400		383,043
7.38%, 01/15/21 (Call 01/15/16)		CAD	150		148,980
River Cree Enterprises LP
11.00%, 01/20/21 (Call 01/20/18)b		CAD	100		99,665
Russel Metals Inc.
6.00%, 04/19/22 (Call 04/19/17)b		CAD	50		47,306
6.00%, 04/19/22 (Call 04/19/17)		CAD	100		95,301
Sirius XM Canada Holdings Inc.
5.63%, 04/23/21 (Call 04/23/17)b		CAD	200		184,632
Southern Pacific Resource Corp.
8.75%, 01/25/18 (Call 01/25/15)b		CAD	50		33,528
Tervita Corp.
9.00%, 11/15/18 (Call 11/15/15)b		CAD	125		117,695
Trilogy Energy Corp.
7.25%, 12/13/19 (Call 12/13/15)b		CAD	150		146,052
Vermilion Energy Inc.
6.50%, 02/10/16 (Call 09/02/14)		CAD	100		94,268
Videotron Ltee
5.63%, 06/15/25 (Call 03/15/25)		CAD	175		162,005
6.88%, 07/15/21 (Call 06/15/16)		CAD	225		227,266
YPG Financing Inc.
9.25%, 11/30/18 (Call 09/02/14)b		CAD	253		246,165
					7,080,822
CAYMAN ISLANDS — 0.87%
Brakes Capital
7.13%, 12/15/18 (Call 12/15/15)b		GBP	300		507,756
UPCB Finance II Ltd.
6.38%, 07/01/20 (Call 07/01/15)a		EUR	300		423,728
UPCB Finance Ltd.
7.63%, 01/15/20 (Call 01/15/15)a		EUR	450		635,216
Viridian Group
11.13%, 04/01/17 (Call 04/01/15)a		EUR	91		132,716
					1,699,416
FINLAND — 0.84%
Nokia OYJ
6.75%, 02/04/19a		EUR	300		477,164
Stora Enso OYJ
5.00%, 03/19/18a		EUR	300		436,523
5.50%, 03/07/19a		EUR	300		449,819
UPM-Kymmene OYJ
6.63%, 01/23/17a		GBP	150		274,975
					1,638,481

14

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF

July 31, 2014

Security	Principal (000s)			Value
FRANCE — 14.05%
3AB Optique Developpement SAS
5.63%, 04/15/19 (Call 10/15/15)a		EUR	200	$	256,478
Banque PSA Finance SA
4.00%, 06/24/15a		EUR	400		547,985
4.25%, 02/25/16a		EUR	500		696,564
4.88%, 09/25/15a		EUR	300		417,456
Cegedim SA
6.75%, 04/01/20 (Call 04/01/16)a		EUR	400		577,347
Cerba European Lab
7.00%, 02/01/20 (Call 02/01/16)a		EUR	200		285,663
CGG SA
5.88%, 05/15/20 (Call 05/15/17)a		EUR	250		334,450
Ciments Francais SA
4.75%, 04/04/17a		EUR	300		429,297
CMA CGM SA
8.75%, 12/15/18 (Call 12/15/15)a		EUR	200		275,963
8.88%, 04/15/19 (Call 04/15/15)a		EUR	100		138,416
Crown European Holdings SA
4.00%, 07/15/22 (Call 04/15/22)a		EUR	400		541,095
Darty Financement SAS
5.88%, 03/01/21 (Call 03/01/17)a		EUR	100		139,988
Europcar Groupe SA
9.38%, 04/15/18 (Call 09/01/14)a		EUR	200		281,874
11.50%, 05/15/17a		EUR	200		305,686
Faurecia SA
8.75%, 06/15/19 (Call 06/15/15)a		EUR	100		150,090
9.38%, 12/15/16a		EUR	300		469,812
Financiere Gaillon 8 SAS
7.00%, 09/30/19 (Call 03/31/16)a		EUR	200		252,882
Groupama SA
7.88%, 10/27/39 (Call 10/27/19)c		EUR	450		674,553
Holdikks SAS
6.75%, 07/15/21 (Call 07/15/17)a		EUR	200		257,619
Italcementi Finance SA
6.13%, 02/21/18a		EUR	400		594,297
6.63%, 03/19/20a,d		EUR	350		542,207
La Financiere Atalian SAS
7.25%, 01/15/20 (Call 01/15/17)a		EUR	100		144,843
Labco SAS
8.50%, 01/15/18 (Call 09/01/14)a		EUR	325		459,401
Labeyrie Fine Foods SAS
5.63%, 03/15/21 (Call 03/15/17)a		EUR	150		208,394
Lafarge SA
4.25%, 03/23/16a		EUR	350		492,230
4.75%, 03/23/20a		EUR	200		307,049
4.75%, 09/30/20a		EUR	550		846,469
5.38%, 06/26/17a		EUR	550		818,628
5.88%, 07/09/19a		EUR	350		557,277
6.25%, 04/13/18a		EUR	200		307,026
6.63%, 11/29/18a		EUR	600		948,508
6.75%, 12/16/19a		EUR	450		727,036
8.88%, 11/24/16a		EUR	300		469,504
Loxam SAS
4.88%, 07/23/21 (Call 07/23/17)a		EUR	250		333,141
7.00%, 07/23/22a		EUR	150		195,988
7.38%, 01/24/20 (Call 01/24/16)a		EUR	200		282,987

Security	Principal (000s)			Value
Medi-Partenaires SAS
7.00%, 05/15/20 (Call 05/15/16)a		EUR	200	$	281,315
Nexans SA
4.25%, 03/19/18		EUR	100		139,096
5.75%, 05/02/17		EUR	200		287,336
Novafives SAS
4.50%, 06/30/21 (Call 06/30/17)a		EUR	250		339,421
Novalis SAS
6.00%, 06/15/18 (Call 06/15/15)a		EUR	300		421,470
Numericable Group SA
5.38%, 05/15/22 (Call 05/15/17)a		EUR	650		902,944
5.63%, 05/15/24 (Call 05/15/19)a		EUR	750		1,049,430
Peugeot SA
5.00%, 10/28/16		EUR	400		568,942
5.63%, 06/29/15		EUR	50		69,448
5.63%, 07/11/17		EUR	300		436,543
6.50%, 01/18/19a		EUR	350		533,359
6.88%, 03/30/16a		EUR	200		289,552
7.38%, 03/06/18a		EUR	600		926,017
Renault SA
3.13%, 03/05/21a		EUR	350		495,147
3.63%, 09/19/18a		EUR	450		647,369
4.63%, 05/25/16a		EUR	550		779,590
4.63%, 09/18/17a		EUR	550		803,718
5.63%, 06/30/15		EUR	300		417,787
5.63%, 03/22/17		EUR	250		370,015
Rexel SA
5.13%, 06/15/20 (Call 06/15/16)a		EUR	300		427,792
7.00%, 12/17/18 (Call 06/17/15)a		EUR	350		500,496
SGD Group SAS
5.63%, 05/15/19 (Call 10/15/15)a		EUR	250		342,252
SMCP SAS
8.88%, 06/15/20 (Call 06/15/16)a		EUR	200		286,109
SPCM SA
5.50%, 06/15/20 (Call 06/15/16)a		EUR	200		287,224
Tereos Finance Groupe I
4.25%, 03/04/20 (Call 03/04/19)		EUR	300		410,766
					27,281,341
GERMANY — 8.70%
Bayerische Landbank
5.75%, 10/23/17		EUR	550		816,960
CeramTec Group GmbH
8.25%, 08/15/21 (Call 08/15/16)a		EUR	200		294,200
Commerzbank AG
6.38%, 03/22/19		EUR	800		1,227,642
7.75%, 03/16/21		EUR	900		1,480,655
Deutsche Lufthansa AG
6.50%, 07/07/16		EUR	400		590,546
Deutsche Raststaetten Gruppe IV GmbH
6.75%, 12/30/20 (Call 12/30/16)a		EUR	300		425,651
Franz Haniel & Cie GmbH
5.88%, 02/01/17a		EUR	150		223,178
FTE Verwaltungs GmbH
9.00%, 07/15/20 (Call 07/15/16)a		EUR	200		289,236
Hapag-Lloyd AG
7.75%, 10/01/18 (Call 10/01/15)a		EUR	200		283,656
9.00%, 10/15/15 (Call 10/15/14)a		EUR	159		218,703
Heckler & Koch GmbH
9.50%, 05/15/18 (Call 09/02/14)a		EUR	200		267,600

15

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF

July 31, 2014

Security	Principal (000s)			Value
Heidelberger Druckmaschinen AG
9.25%, 04/15/18 (Call 09/01/14)a		EUR	150	$	213,118
Hornbach Baumarkt AG
3.88%, 02/15/20a		EUR	100		143,248
KM Germany Holdings GmbH
8.75%, 12/15/20 (Call 12/15/15)a		EUR	200		298,597
KP Germany Erste GmbH
11.63%, 07/15/17 (Call 01/15/15)a		EUR	100		149,301
Norddeutsche Landesbank Girozentrale
6.00%, 06/29/20a		EUR	300		450,416
Rheinmetall AG
4.00%, 09/22/17a		EUR	250		365,650
SGL Carbon SE
4.88%, 01/15/21 (Call 01/15/17)a		EUR	100		140,166
Techem Energy Metering Service GmbH & Co. KG
6.13%, 10/01/19 (Call 10/01/15)a		EUR	400		570,880
7.88%, 10/01/20 (Call 10/01/16)a		EUR	200		298,048
ThyssenKrupp AG
3.13%, 10/25/19 (Call 07/25/19)a		EUR	700		975,227
4.00%, 08/27/18		EUR	900		1,292,709
4.38%, 02/28/17		EUR	1,100		1,565,628
Trionista Holdco GmbH
5.00%, 04/30/20 (Call 04/30/16)a		EUR	200		275,882
Trionista TopCo GmbH
6.88%, 04/30/21 (Call 04/30/16)a		EUR	300		424,982
Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH
5.13%, 01/21/23 (Call 01/21/18)a		EUR	300		424,815
5.50%, 09/15/22 (Call 09/15/17)a		EUR	450		643,796
5.63%, 04/15/23 (Call 04/15/18)a		EUR	250		361,260
5.75%, 01/15/23 (Call 01/15/18)a		EUR	300		433,773
7.50%, 03/15/19 (Call 03/15/15)a		EUR	400		567,981
Unitymedia KabelBW GmbH
9.50%, 03/15/21 (Call 03/15/16)a		EUR	300		453,331
9.63%, 12/01/19 (Call 12/01/14)a		EUR	300		427,240
WEPA Hygieneprodukte GmbH
6.50%, 05/15/20 (Call 05/15/16)a		EUR	200		288,562
					16,882,637
IRELAND — 4.30%
AG Spring Finance Ltd.
7.50%, 06/01/18 (Call 06/01/15)a		EUR	200		256,673
Allied Irish Banks PLC
2.75%, 04/16/19a		EUR	300		404,902
2.88%, 11/28/16a		EUR	200		272,278
5.63%, 11/12/14a		EUR	100		135,095
Ardagh Glass Finance PLC
7.13%, 06/15/17 (Call 08/01/14)a		EUR	250		338,364
Ardagh Packaging Finance PLC
9.25%, 10/15/20 (Call 10/15/15)a		EUR	200		292,714
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc.
4.25%, 01/15/22 (Call 06/30/17)a		EUR	700		918,336
Bank of Ireland
2.00%, 05/08/17a		EUR	400		534,489
4.25%, 06/11/24 (Call 06/11/19)a,c		EUR	600		783,399
Eircom Finance Ltd.
9.25%, 05/15/20 (Call 05/15/16)a		EUR	200		294,695
Governor & Co. of the Bank of Ireland (The)
2.75%, 06/05/16a		EUR	350		475,430
3.25%, 01/15/19a		EUR	450		626,499
10.00%, 12/19/22a		EUR	100		171,598

Security	Principal (000s)			Value
Inaer Aviation Finance Ltd.
9.50%, 08/01/17 (Call 08/01/15)a		EUR	200	$	279,502
Nara Cable Funding II Ltd.
8.50%, 03/01/20 (Call 03/01/16)a		EUR	250		397,236
Nara Cable Funding Ltd.
8.88%, 12/01/18 (Call 09/01/14)a		EUR	550		783,133
Ono Finance II PLC
11.13%, 07/15/19 (Call 09/01/14)a		EUR	100		146,427
Rottapharm Ltd.
6.13%, 11/15/19 (Call 11/15/15)a		EUR	200		288,116
Smurfit Kappa Acquisitions
3.25%, 06/01/21 (Call 03/10/21)a		EUR	500		660,080
4.13%, 01/30/20a		EUR	200		281,092
					8,340,058
ITALY — 13.32%
Astaldi SpA
7.13%, 12/01/20 (Call 12/01/16)a		EUR	400		575,875
Banca Monte dei Paschi di Siena SpA
3.63%, 04/01/19a		EUR	600		817,212
4.88%, 05/31/16		EUR	450		610,249
5.00%, 04/21/20a		EUR	400		555,165
5.60%, 09/09/20		EUR	200		282,877
Series 1
7.25%, 07/10/15a		EUR	500		697,767
Banca Popolare di Milano Scarl
4.00%, 01/22/16a		EUR	650		891,063
4.25%, 01/30/19a		EUR	300		421,269
7.13%, 03/01/21a		EUR	400		607,590
Banca Popolare di Vicenza
3.50%, 01/20/17a		EUR	300		410,030
5.00%, 10/25/18a		EUR	300		424,104
6.75%, 02/27/15a		EUR	150		206,224
Banco Popolare SC
2.38%, 01/22/18a		EUR	500		667,149
3.50%, 03/14/19a		EUR	850		1,160,199
3.75%, 01/28/16a		EUR	800		1,096,357
5.47%, 11/12/16a		EUR	100		139,487
6.00%, 11/05/20a		EUR	600		867,693
6.38%, 05/31/21a		EUR	100		147,672
Buzzi Unicem SpA
5.13%, 12/09/16a		EUR	200		287,402
6.25%, 09/28/18a		EUR	200		306,937
Cerved Group SpA
6.38%, 01/15/20 (Call 01/15/16)		EUR	100		142,447
Enel SpA
5.00%, 01/15/75 (Call 01/15/20)a,c		EUR	600		835,488
6.50%, 01/10/74 (Call 01/10/19)c		EUR	800		1,170,929
GTECH SpA
8.25%, 03/31/66 (Call 03/31/16)a,c		EUR	450		645,301
Intesa Sanpaolo SpA
6.63%, 09/13/23a		EUR	375		615,411
IVS F SpA
7.13%, 04/01/20 (Call 04/01/16)a		EUR	100		142,722
Manutencoop Facility Management SpA
8.50%, 08/01/20 (Call 08/01/16)a		EUR	200		285,663
Salini Costruttori SpA
6.13%, 08/01/18a		EUR	200		288,855
Sisal Holding Istituto di Pagamento SpA
7.25%, 09/30/17 (Call 11/01/14)a		EUR	100		135,919

16

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF

July 31, 2014

Security	Principal (000s)			Value
Snai SpA
7.63%, 06/15/18 (Call 12/15/15)a		EUR	300	$	430,348
TeamSystem Holding SpA
7.38%, 05/15/20 (Call 05/15/16)a		EUR	265		373,229
Telecom Italia SpA
4.00%, 01/21/20a		EUR	300		420,753
4.50%, 09/20/17a		EUR	550		790,960
4.50%, 01/25/21a		EUR	500		715,273
4.75%, 05/25/18a		EUR	300		435,571
4.88%, 09/25/20a		EUR	250		364,703
5.13%, 01/25/16a		EUR	150		211,992
5.25%, 02/10/22a		EUR	250		367,705
5.38%, 01/29/19a		EUR	400		593,931
5.63%, 12/29/15a		GBP	100		176,176
6.13%, 12/14/18a		EUR	250		382,434
6.38%, 06/24/19a		GBP	400		727,599
7.00%, 01/20/17a		EUR	200		300,612
8.25%, 03/21/16a		EUR	250		370,875
UniCredit SpA
3.95%, 02/01/16a		EUR	450		618,187
5.00%, 02/01/16a		GBP	150		259,247
6.70%, 06/05/18a		EUR	650		981,428
Unipol Gruppo Finanziario SpA
4.38%, 03/05/21a		EUR	270		385,945
5.00%, 01/11/17a		EUR	300		427,015
Veneto Banca SCPA
4.00%, 01/20/17a		EUR	300		407,374
4.25%, 01/18/16a		EUR	200		272,335
Veneto Banca SPA
4.00%, 05/20/19a		EUR	300		405,945
					25,854,693
JAPAN — 0.26%
SoftBank Corp.
4.63%, 04/15/20a		EUR	350		498,935
					498,935
JERSEY — 0.75%
AA Bond Co. Ltd.
9.50%, 07/31/43 (Call 01/31/16)a		GBP	400		747,917
Aston Martin Capital Ltd.
9.25%, 07/15/18 (Call 09/01/14)b		GBP	200		356,231
Hastings Insurance Group Finance PLC
8.00%, 10/21/20 (Call 10/30/16)b		GBP	200		356,231
					1,460,379
LUXEMBOURG — 17.35%
Aldesa Financial Services SA
7.25%, 04/01/21 (Call 04/01/17)a		EUR	150		203,543
Altice SA
7.25%, 05/15/22 (Call 05/15/17)a		EUR	1,300		1,800,062
ArcelorMittal SA
2.88%, 07/06/20a		EUR	350		468,965
3.00%, 03/25/19a		EUR	400		545,351
5.75%, 03/29/18a		EUR	300		447,962
5.88%, 11/17/17a		EUR	850		1,265,720
10.63%, 06/03/16		EUR	550		855,907
Befesa Zinc SAU Via Zinc Capital SA
8.88%, 05/15/18 (Call 09/01/14)a		EUR	200		284,307

Security	Principal (000s)			Value
Bormioli Rocco Holdings SA
10.00%, 08/01/18 (Call 09/01/14)a		EUR	100	$	142,274
Cabot Financial Luxembourg SA
10.38%, 10/01/19 (Call 10/01/15)b		GBP	100		191,115
Capsugel FinanceCo SCA
9.88%, 08/01/19 (Call 08/01/14)a		EUR	100		143,681
Cirsa Funding Luxembourg SA
8.75%, 05/15/18 (Call 09/01/14)a		EUR	500		681,979
Clariant Finance Luxembourg SA
5.63%, 01/24/17a		EUR	250		371,409
CNH Industrial Finance Europe SA
2.75%, 03/18/19a		EUR	600		808,327
6.25%, 03/09/18a		EUR	650		982,979
ConvaTec Healthcare E SA
7.38%, 12/15/17 (Call 09/02/14)a		EUR	150		210,902
10.88%, 12/15/18 (Call 12/15/14)a		EUR	100		143,835
Dufry Finance SCA
4.50%, 07/15/22 (Call 07/15/17)a		EUR	200		276,565
Espirito Santo Financial Group SA
6.88%, 10/21/19a		EUR	200		10,537
Fiat Finance & Trade SA
4.75%, 03/22/21a		EUR	450		631,071
4.75%, 07/15/22a		EUR	300		420,401
6.38%, 04/01/16a		EUR	400		571,576
6.63%, 03/15/18a		EUR	700		1,044,309
6.75%, 10/14/19a		EUR	550		848,309
7.00%, 03/23/17a		EUR	400		592,279
7.38%, 07/09/18		EUR	300		462,614
7.75%, 10/17/16a		EUR	400		594,138
Findus Bondco SA
9.13%, 07/01/18 (Call 07/01/15)a		EUR	100		144,174
Finmeccanica Finance SA
4.50%, 01/19/21a		EUR	600		842,004
8.00%, 12/16/19a		GBP	250		489,501
FMC Finance VI SA
5.50%, 07/15/16a		EUR	100		144,934
FMC Finance VII SA
5.25%, 02/15/21a		EUR	200		307,125
FMC Finance VIII SA
5.25%, 07/31/19a		EUR	100		152,382
6.50%, 09/15/18a		EUR	250		394,718
Galapagos Holding SA
7.00%, 06/15/22 (Call 06/15/17)a		EUR	150		199,195
Gategroup Finance Luxembourg SA
6.75%, 03/01/19 (Call 03/01/15)a		EUR	200		280,980
GCS Holdco Finance I SA
6.50%, 11/15/18 (Call 11/15/15)a		EUR	200		280,757
Geo Debt Finance SCA
7.50%, 08/01/18 (Call 02/01/15)a		EUR	200		278,652
Gestamp Funding Luxembourg SA
5.88%, 05/31/20 (Call 05/31/16)a		EUR	300		420,801
Grand City Properties SA Series B
6.25%, 06/03/20 (Call 06/03/16)a		EUR	300		434,586
HeidelbergCement Finance BV
5.63%, 01/04/18		EUR	300		452,244
HeidelbergCement Finance Luxembourg SA
2.25%, 03/12/19a		EUR	350		474,739
3.25%, 10/21/20a		EUR	250		352,479
3.25%, 10/21/21a		EUR	300		420,978
4.00%, 03/08/16a		EUR	400		557,332
6.50%, 08/03/15a		EUR	150		211,502

17

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF

July 31, 2014

Security	Principal (000s)			Value
6.75%, 12/15/15a		EUR	400	$	575,343
7.50%, 04/03/20a		EUR	400		675,188
8.00%, 01/31/17a		EUR	500		775,271
8.50%, 10/31/19a		EUR	350		608,438
9.50%, 12/15/18a		EUR	200		349,887
Ineos Group Holdings SA
5.75%, 02/15/19 (Call 02/15/16)a		EUR	300		410,104
6.50%, 08/15/18 (Call 05/15/15)a		EUR	350		485,861
Intralot Capital Luxembourg SA
6.00%, 05/15/21 (Call 05/15/17)a		EUR	150		200,951
Intralot Finance Luxembourg SA
9.75%, 08/15/18 (Call 08/15/16)a		EUR	200		303,994
KION Finance SA
6.75%, 02/15/20 (Call 02/15/16)a		EUR	200		290,435
Magnolia BC SA
9.00%, 08/01/20 (Call 08/01/16)a		EUR	200		275,860
Ontex IV SA
7.50%, 04/15/18 (Call 09/01/14)a		EUR	100		139,072
PagesJaunes Finance & Co.
8.88%, 06/01/18 (Call 08/11/14)a		EUR	200		273,621
Picard Bondco SA
9.00%, 10/01/18 (Call 10/01/14)a		EUR	100		140,660
S&B Minerals Finance SCA/S&B Industrial Minerals North America Inc.
9.25%, 08/15/20 (Call 08/15/16)a		EUR	200		297,750
Servus Luxembourg Holding SCA
7.75%, 06/15/18 (Call 06/15/15)a		EUR	163		231,725
Spie BondCo 3 SCA
11.00%, 08/15/19 (Call 08/15/15)a		EUR	200		301,719
Sunrise Communications Holdings SA
8.50%, 12/31/18 (Call 12/31/14)a		EUR	400		564,663
Sunrise Communications International SA
7.00%, 12/31/17 (Call 09/01/14)a		EUR	200		280,704
Takko Luxembourg 2 S.C.A
9.88%, 04/15/19 (Call 04/15/16)a		EUR	200		251,544
Telenet Finance III Luxembourg SCA
6.63%, 02/15/21 (Call 02/15/16)a		EUR	200		286,800
Telenet Finance Luxembourg SCA
6.38%, 11/15/20 (Call 11/15/15)a		EUR	200		284,405
Telenet Finance V Luxembourg SCA
6.25%, 08/15/22 (Call 08/15/17)a		EUR	200		291,684
6.75%, 08/15/24 (Call 08/15/18)a		EUR	200		300,047
Wind Acquisition Finance SA
4.00%, 07/15/20 (Call 07/15/16)a		EUR	1,300		1,740,618
7.00%, 04/23/21 (Call 04/23/17)a		EUR	1,050		1,507,072
					33,682,616
NETHERLANDS — 9.12%
Brenntag Finance BV
5.50%, 07/19/18a		EUR	200		306,544
Carlson Wagonlit BV
7.50%, 06/15/19 (Call 06/15/15)a		EUR	100		144,143
Constellium NV
4.63%, 05/15/21 (Call 05/15/17)a		EUR	150		205,049
Deutsche Annington Finance BV
4.63%, 04/08/74 (Call 04/08/19)a,c		EUR	400		545,971
EDP Finance BV
2.63%, 04/15/19a		EUR	350		478,088
3.75%, 06/22/15a		EUR	150		205,105
4.13%, 06/29/20a		EUR	100		144,694
4.13%, 01/20/21a		EUR	350		502,217
4.63%, 06/13/16a		EUR	200		282,256

Security	Principal (000s)			Value
4.75%, 09/26/16a		EUR	600	$	855,351
4.88%, 09/14/20a		EUR	500		748,737
5.75%, 09/21/17a		EUR	500		745,816
5.88%, 02/01/16a		EUR	550		783,827
Fresenius Finance BV
2.38%, 02/01/19a		EUR	200		275,512
2.88%, 07/15/20a		EUR	450		632,743
3.00%, 02/01/21a		EUR	200		281,194
4.00%, 02/01/24a		EUR	200		290,370
4.25%, 04/15/19a		EUR	300		445,086
Frigoglass Finance BV
8.25%, 05/15/18 (Call 05/15/15)a		EUR	100		140,606
Goodyear Dunlop Tires Europe BV
6.75%, 04/15/19 (Call 04/15/15)a		EUR	100		142,419
Grupo Antolin Dutch BV
4.75%, 04/01/21 (Call 04/01/17)a		EUR	250		341,736
Grupo Isolux Corsan Finance BV
6.63%, 04/15/21 (Call 04/15/17)a		EUR	500		670,951
Hema Bondco I BV
6.25%, 06/15/19 (Call 06/15/16)a		EUR	200		267,541
Hertz Holdings Netherlands BV
4.38%, 01/15/19a		EUR	400		545,993
InterXion Holding NV
6.00%, 07/15/20 (Call 07/15/16)a		EUR	300		423,477
OI European Group BV
4.88%, 03/31/21a		EUR	300		427,157
6.75%, 09/15/20a		EUR	200		313,092
Phoenix PIB Dutch Finance BV
3.13%, 05/27/20a		EUR	200		264,683
PortAventura Entertainment Barcelona BV
7.25%, 12/01/20 (Call 12/01/16)a		EUR	200		275,126
Refresco Gerber BV
7.38%, 05/15/18 (Call 09/01/14)a		EUR	200		281,114
Schaeffler Finance BV
2.75%, 05/15/19 (Call 05/15/16)a		EUR	250		333,580
3.25%, 05/15/19 (Call 05/15/16)a		EUR	350		466,444
3.50%, 05/15/22 (Call 05/15/17)a		EUR	350		466,837
4.25%, 05/15/18 (Call 05/15/15)a		EUR	300		413,964
7.75%, 02/15/17a		EUR	450		682,380
Selecta Group BV
6.50%, 06/15/20 (Call 12/15/16)a		EUR	200		274,359
SNS BANK NV
6.25%, 10/26/20e		EUR	50		0
Stork Technical Services Holdings BV
11.00%, 08/15/17 (Call 02/15/15)a		EUR	200		280,144
ThyssenKrupp Finance Nederland BV
8.50%, 02/25/16		EUR	500		742,757
Univeg Holding BV
7.88%, 11/15/20 (Call 11/15/16)a		EUR	200		262,364
UPC Holding BV
6.38%, 09/15/22 (Call 09/15/17)a		EUR	300		433,281
6.75%, 03/15/23 (Call 03/15/18)a		EUR	300		440,035
8.38%, 08/15/20 (Call 08/15/15)a		EUR	400		582,432
Ziggo Bond Co. BV
8.00%, 05/15/18 (Call 09/01/14)a		EUR	250		366,244
					17,711,419
NORWAY — 0.07%
Norske Skogindustrier ASA
7.00%, 06/26/17a		EUR	150		137,740
					137,740

18

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF

July 31, 2014

Security	Principal (000s)			Value
PORTUGAL — 2.48%
Banco Comercial Portugues SA
3.38%, 02/27/17a		EUR	300	$	402,778
Banco Espirito Santo SA
2.63%, 05/08/17a		EUR	400		474,476
3.88%, 01/21/15		EUR	150		189,075
4.00%, 01/21/19a		EUR	500		595,404
4.75%, 01/15/18a		EUR	300		368,224
5.88%, 11/09/15a		EUR	400		500,127
7.13%, 11/28/23 (Call 11/28/18)a,c		EUR	400		289,420
Brisa Concessao Rodoviaria SA
3.88%, 04/01/21a		EUR	100		139,364
4.50%, 12/05/16		EUR	400		566,866
6.88%, 04/02/18a		EUR	200		307,829
Caixa Geral de Depositos SA
5.63%, 12/04/15a		EUR	500		694,088
Portucel SA
5.38%, 05/15/20 (Call 05/15/16)a		EUR	200		284,492
					4,812,143
SPAIN — 5.30%
Abengoa Finance SAU
6.00%, 03/31/21a		EUR	300		413,636
8.88%, 02/05/18a		EUR	400		611,698
Abengoa SA
8.50%, 03/31/16		EUR	200		287,664
9.63%, 02/25/15a		EUR	200		277,301
Almirall SA
4.63%, 04/01/21 (Call 04/01/17)a		EUR	200		279,642
Banco de Sabadell SA
2.50%, 12/05/16		EUR	400		549,379
6.25%, 04/26/20		EUR	200		299,712
Bankia SA
3.50%, 01/17/19a		EUR	600		847,173
4.00%, 05/22/24 (Call 05/22/19)a,c		EUR	600		786,075
4.38%, 02/14/17		EUR	200		285,992
Bankinter SA
1.75%, 06/10/19a		EUR	200		268,210
6.38%, 09/11/19		EUR	150		231,146
BPE Financiaciones SA
2.50%, 02/01/17		EUR	500		678,143
2.88%, 05/19/16		EUR	600		818,233
4.00%, 07/17/15a		EUR	200		273,865
CaixaBank SA
5.00%, 11/14/23 (Call 11/14/18)a,c		EUR	600		866,340
Campofrio Food Group SA
8.25%, 10/31/16 (Call 09/01/14)a		EUR	125		173,193
Ence Energia y Celulosa SA
7.25%, 02/15/20 (Call 02/15/16)a		EUR	200		267,823
Mapfre SA
5.92%, 07/24/37 (Call 07/24/17)c		EUR	500		710,250
NH Hotel Group SA
6.88%, 11/15/19 (Call 11/15/17)a		EUR	300		441,018
Obrascon Huarte Lain SA
4.75%, 03/15/22 (Call 03/15/18)a		EUR	250		341,748
7.63%, 03/15/20 (Call 03/15/16)a		EUR	200		293,189
8.75%, 03/15/18 (Call 03/15/15)a		EUR	200		287,670
					10,289,100

Security	Principal (000s)			Value
SWEDEN — 0.90%
Ovako AB
6.50%, 06/01/19 (Call 06/01/16)a		EUR	150	$	204,589
Perstorp Holding AB
9.00%, 05/15/17 (Call 05/15/15)a		EUR	100		144,392
SSAB AB
3.88%, 04/10/19a		EUR	200		265,928
Stena AB
6.13%, 02/01/17a		EUR	200		288,673
Unilabs Subholding AB
8.50%, 07/15/18 (Call 07/15/15)a		EUR	200		282,485
Verisure Holding AB
8.75%, 09/01/18 (Call 09/02/14)a		EUR	300		426,488
8.75%, 12/01/18 (Call 12/01/14)a		EUR	100		142,838
					1,755,393
UNITED KINGDOM — 13.21%
Algeco Scotsman Global Finance PLC
9.00%, 10/15/18 (Call 10/15/15)a		EUR	200		277,648
Alpha Credit Group PLC
3.38%, 06/17/17a		EUR	300		389,398
Arqiva Broadcast Finance PLC
9.50%, 03/31/20 (Call 03/31/16)a		GBP	400		750,449
Bakkavor Finance (2) PLC
8.25%, 02/15/18 (Call 02/15/15)b		GBP	200		354,121
Boparan Finance PLC
4.38%, 07/15/21 (Call 07/15/17)a		EUR	150		189,371
5.25%, 07/15/19 (Call 07/15/16)a		GBP	150		238,050
5.50%, 07/15/21 (Call 07/15/17)a		GBP	200		314,868
British Airways PLC
8.75%, 08/23/16		GBP	175		325,549
Care UK
9.75%, 08/01/17 (Call 09/01/14)b		GBP	150		264,918
Co-Operative Bank PLC
2.38%, 10/23/15a		EUR	200		260,018
5.13%, 09/20/17		GBP	200		334,283
Co-Operative Group Ltd.
6.88%, 07/08/20a,d		GBP	100		176,427
EC Finance PLC
5.13%, 07/15/21 (Call 01/15/17)a		EUR	144		193,057
9.75%, 08/01/17 (Call 08/18/14)a		EUR	200		280,804
Eco-Bat Finance PLC
7.75%, 02/15/17 (Call 09/01/14)a		EUR	200		274,457
Elli Finance UK PLC
8.75%, 06/15/19 (Call 06/15/15)b		GBP	200		367,205
ERB Hellas PLC
4.25%, 06/26/18a		EUR	310		405,622
Gala Group Finance PLC
8.88%, 09/01/18 (Call 09/01/14)b		GBP	315		563,723
Infinis PLC
7.00%, 02/15/19 (Call 02/15/16)b		GBP	200		356,231
International Personal Finance PLC
5.75%, 04/07/21a		EUR	150		204,753
Jaguar Land Rover Automotive PLC
5.00%, 02/15/22a		GBP	300		506,490
8.25%, 03/15/20 (Call 03/15/16)b		GBP	200		373,519
Kerling PLC
10.63%, 02/01/17 (Call 09/01/14)a		EUR	350		494,853
Lowell Group Financing PLC
10.75%, 04/01/19 (Call 04/01/15)a		GBP	100		189,090

19

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF

July 31, 2014

Security	Principal (000s)			Value
Matalan Finance PLC
6.88%, 06/01/19 (Call 05/30/16)b		GBP	200	$	323,309
NBG Finance PLC
4.38%, 04/30/19a		EUR	600		783,132
New Look Bondco I PLC
8.75%, 05/14/18 (Call 05/14/15)a		GBP	300		534,347
Odeon & UCI Finco PLC
9.00%, 08/01/18 (Call 08/11/14)b		GBP	300		513,355
OTE PLC
3.50%, 07/09/20		EUR	400		524,947
4.63%, 05/20/16a		EUR	300		415,449
7.25%, 02/12/15a		EUR	95		130,606
7.88%, 02/07/18a		EUR	550		845,365
Phones4u Finance PLC
9.50%, 04/01/18 (Call 09/01/14)b		GBP	300		518,519
Piraeus Group Finance PLC
5.00%, 03/27/17a		EUR	300		406,642
PPC Finance PLC
5.50%, 05/01/19 (Call 05/01/16)a		EUR	300		401,701
Premier Foods Finance PLC
6.50%, 03/15/21 (Call 03/15/17)a		GBP	100		163,765
6.50%, 03/15/21 (Call 03/15/17)b		GBP	150		245,648
Priory Group No. 3 PLC
7.00%, 02/15/18 (Call 09/01/14)b		GBP	325		572,017
R&R Ice Cream PLC
5.50%, 05/15/20 (Call 05/15/16)a		GBP	150		248,813
Rexam PLC
6.75%, 06/29/67 (Call 06/29/17)a,c		EUR	450		630,399
Royal Bank of Scotland Group PLC
3.63%, 03/25/24 (Call 03/25/19)a,c		EUR	600		815,431
4.63%, 09/22/21 (Call 09/22/16)a,c		EUR	550		757,322
Royal Bank of Scotland PLC (The)
4.35%, 01/23/17a		EUR	450		636,179
6.93%, 04/09/18a		EUR	1,200		1,858,081
Stonegate Pub Co. Financing PLC
5.75%, 04/15/19 (Call 04/15/16)b		GBP	300		509,731
Stretford 79 PLC
6.25%, 07/15/21 (Call 07/15/17)a		GBP	250		414,689
Thomas Cook Finance PLC
7.75%, 06/15/20 (Call 06/15/16)a		EUR	300		428,829
Thomas Cook Group PLC
6.75%, 06/22/15a		EUR	150		206,922
7.75%, 06/22/17a		GBP	150		272,238
Titan Global Finance PLC
4.25%, 07/10/19a		EUR	125		166,088
Towergate Finance PLC
10.50%, 02/15/19 (Call 02/15/15)b		GBP	100		156,590
10.50%, 02/15/19 (Call 02/15/15)a		GBP	100		156,590
Virgin Media Finance PLC
7.00%, 04/15/23 (Call 04/15/18)a		GBP	100		181,914
8.88%, 10/15/19 (Call 10/15/14)a		GBP	100		177,815
Virgin Media Secured Finance PLC
5.50%, 01/15/21		GBP	300		519,152
5.50%, 01/15/25 (Call 01/15/19)b		GBP	250		427,900
6.00%, 04/15/21 (Call 04/15/17)		GBP	100		172,207
6.00%, 04/15/21 (Call 04/15/17)a		GBP	600		1,033,239
6.25%, 03/28/29 (Call 01/15/21)a		GBP	400		702,333
Vougeot Bidco PLC
Series 144
7.88%, 07/15/20 (Call 07/15/16)b		GBP	100		177,271
7.88%, 07/15/20 (Call 07/15/16)a		GBP	100		177,271

Security	Principal or Shares (000s)			Value
William Hill PLC
7.13%, 11/11/16 a		GBP	200	$	366,361
					25,657,071
UNITED STATES — 1.19%
Allied Nevada Gold Corp.
8.75%, 06/01/19 (Call 06/01/16)b		CAD	175		118,955
Axalta Coating Systems U.S. Holdings Inc./Axalta Coating Systems Dutch Holding BV
5.75%, 02/01/21 (Call 02/01/16)a		EUR	100		142,163
Belden Inc.
5.50%, 04/15/23 (Call 04/15/18)a		EUR	200		277,635
Chesapeake Energy Corp.
6.25%, 01/15/17a		EUR	200		290,640
Fiat Finance North America Inc.
5.63%, 06/12/17a		EUR	450		648,863
Fresenius Medical Care US Finance II Inc.
8.75%, 07/15/15a		EUR	100		144,139
Huntsman International LLC
5.13%, 04/15/21a		EUR	200		280,320
Iron Mountain Inc.
6.75%, 10/15/18 (Call 08/14/14)a		EUR	100		134,141
Jarden Corp.
3.75%, 10/01/21a		EUR	200		265,433
					2,302,289
TOTAL CORPORATE BONDS & NOTES
(Cost: $188,220,639)					188,155,542
SHORT-TERM INVESTMENTS — 0.00%
MONEY MARKET FUNDS — 0.00%
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%f,g			7		6,951
					6,951
TOTAL SHORT-TERM INVESTMENTS
(Cost: $6,951)					6,951
TOTAL INVESTMENTS IN SECURITIES — 96.91%
(Cost: $188,227,590)					188,162,493
Other Assets, Less Liabilities — 3.09%					5,986,965
NET ASSETS — 100.00%				$	194,149,458

CAD   —   Canadian Dollar

EUR   —   Euro

GBP   —   British Pound

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

^b  This security may be resold to qualified institutional buyers under Rule 144A 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  Security valued using Level 3 inputs in accordance with management’s fair valuation policy. See Note 1.

^f  Affiliated issuer. See Note 2.

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

See accompanying notes to schedules of investments.

20

Schedule of Investments  (Unaudited)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

July 31, 2014

Security		Principal (000s)		Value
CORPORATE BONDS & NOTES — 95.95%
AUSTRALIA — 0.44%
FMG Resources (August 2006) Pty Ltd.
6.88%, 02/01/18 (Call 09/29/14)a,b	USD	$	250	$	261,250
6.88%, 04/01/22 (Call 04/01/17)a,b	USD		100		106,000
8.25%, 11/01/19 (Call 11/01/15)a,b	USD		100		107,625
					474,875
BELGIUM — 0.15%
Barry Callebaut Services NV
5.63%, 06/15/21c	EUR		100		156,559
					156,559
BERMUDA — 0.18%
Aircastle Ltd.
5.13%, 03/15/21	USD		25		25,188
6.25%, 12/01/19	USD		50		53,812
6.75%, 04/15/17	USD		100		109,067
					188,067
CANADA — 3.11%
Air Canada
6.75%, 10/01/19 (Call 10/01/16)a	USD		50		53,473
7.63%, 10/01/19 (Call 10/01/16)a	CAD		50		49,143
7.75%, 04/15/21a	USD		25		25,938
Armtec Holdings Ltd.
8.88%, 09/22/17 (Call 09/02/14)	CAD		6		3,830
Athabasca Oil Corp.
7.50%, 11/19/17 (Call 11/19/14)c	CAD		100		90,938
Baytex Energy Corp.
6.63%, 07/19/22 (Call 07/19/17)	CAD		50		49,373
Bombardier Inc.
4.75%, 04/15/19a	USD		100		97,440
5.75%, 03/15/22a,b	USD		50		49,250
6.00%, 10/15/22 (Call 04/15/17)a,b	USD		75		73,594
6.13%, 05/15/21c	EUR		100		145,675
6.13%, 01/15/23a	USD		100		98,250
7.75%, 03/15/20a,b	USD		150		162,375
Brookfield Residential Properties Inc.
6.13%, 07/01/22 (Call 07/01/17)a,b	USD		25		25,625
6.50%, 12/15/20 (Call 12/15/15)a	USD		100		104,250
Canadian Energy Services & Technology Corp.
7.38%, 04/17/20 (Call 04/17/17)	CAD		50		48,569
Cascades Inc.
5.50%, 07/15/21 (Call 07/15/17)a	CAD		25		22,604
Centric Health Corp.
8.63%, 04/18/18 (Call 04/18/16)	CAD		20		15,662
Corus Entertainment Inc.
4.25%, 02/11/20c	CAD		50		45,584
First Quantum Minerals Ltd.
6.75%, 02/15/20 (Call 02/15/17)a	USD		85		87,125
7.00%, 02/15/21 (Call 02/15/18)a,b	USD		185		190,087

Security		Principal (000s)		Value
Gateway Casinos & Entertainment Ltd.
8.50%, 11/26/20 (Call 11/26/16)a	CAD		50	$	46,732
Gibson Energy Inc.
5.38%, 07/15/22 (Call 07/15/17)a	CAD		25		22,964
Great Canadian Gaming Corp.
6.63%, 07/25/22 (Call 07/25/17)a	CAD		50		48,340
Kodiak Oil & Gas Corp.
5.50%, 02/01/22 (Call 08/01/17)	USD		50		52,403
8.13%, 12/01/19 (Call 12/01/15)	USD		50		54,900
Mattamy Group Corp.
6.88%, 11/15/20 (Call 11/15/15)a	CAD		50		46,962
MEG Energy Corp.
6.38%, 01/30/23 (Call 07/30/17)a	USD		100		103,683
6.50%, 03/15/21 (Call 03/15/15)a	USD		100		103,275
7.00%, 03/31/24 (Call 09/30/18)a	USD		75		79,909
Newalta Corp. Series 2
7.75%, 11/14/19 (Call 11/14/15)	CAD		22		21,775
Novelis Inc.
8.75%, 12/15/20 (Call 12/15/15)	USD		150		162,375
NRL Energy Investments Ltd.
8.25%, 04/13/18 (Call 04/13/15)	CAD		25		20,897
Paramount Resources Ltd.
7.63%, 12/04/19 (Call 12/04/15)	CAD		50		48,399
8.25%, 12/13/17 (Call 09/26/14)	CAD		50		47,812
Postmedia Network Inc.
8.25%, 08/16/17 (Call 08/16/15)a	CAD		45		42,853
Precision Drilling Corp.
6.63%, 11/15/20 (Call 11/15/15)	USD		100		105,500
Quebecor Media Inc.
6.63%, 01/15/23a	CAD		50		47,880
7.38%, 01/15/21 (Call 01/15/16)	CAD		100		99,320
Russel Metals Inc.
6.00%, 04/19/22 (Call 04/19/17)a	CAD		50		47,306
Tervita Corp.
8.00%, 11/15/18 (Call 11/15/15)	USD		100		103,500
9.00%, 11/15/18 (Call 11/15/15)a	CAD		25		23,539
Videotron Ltd.
5.00%, 07/15/22	USD		100		101,000
5.38%, 06/15/24 (Call 03/15/24)	USD		50		50,500
Videotron Ltee
5.63%, 06/15/25 (Call 03/15/25)	CAD		25		23,144
VPII Escrow Corp./Valeant Pharmaceuticals International Inc.
6.75%, 08/15/18 (Call 08/15/15)	USD		150		158,813
7.50%, 07/15/21 (Call 07/15/16)	USD		150		162,562
YPG Financing Inc.
9.25%, 11/30/18 (Call 09/26/14)a	CAD		51		49,764
					3,314,892
CAYMAN ISLANDS — 0.60%
Offshore Group Investments Ltd.
7.13%, 04/01/23 (Call 04/01/18)	USD		75		74,337
7.50%, 11/01/19 (Call 11/01/15)	USD		100		103,030
UPCB Finance II Ltd.
6.38%, 07/01/20 (Call 07/01/15)	EUR		100		141,243
UPCB Finance III Ltd.
6.63%, 07/01/20 (Call 07/01/15)	USD		150		157,313
UPCB Finance V Ltd.
7.25%, 11/15/21 (Call 11/15/16)	USD		150		163,500
					639,423

21

Schedule of Investments   (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

July 31, 2014

Security		Principal (000s)		Value
FINLAND — 0.36%
Nokia OYJ
5.38%, 05/15/19	USD		75	$	79,842
6.75%, 02/04/19c	EUR		100		159,055
Stora Enso OYJ
5.00%, 03/19/18c	EUR		100		145,507
					384,404
FRANCE — 5.12%
BPCE SA
12.50%, 08/29/49 (Call 09/30/19)a,d	USD		100		137,000
CGG SA
5.88%, 05/15/20 (Call 05/15/17)c	EUR		100		133,780
6.88%, 01/15/22 (Call 07/15/17)a	USD		200		192,500
CMA CGM SA
8.75%, 12/15/18 (Call 12/15/15)c	EUR		100		137,981
Credit Agricole SA
6.64%, 05/29/49 (Call 05/31/17)a,b,d	USD		100		106,000
Crown European Holdings SA
4.00%, 07/15/22 (Call 04/15/22)	EUR		100		135,274
Faurecia SA
9.38%, 12/15/16	EUR		100		156,604
Groupama SA
7.88%, 10/27/39 (Call 10/27/19)d	EUR		50		74,950
Italcementi Finance SA
6.63%, 03/19/20c,e	EUR		50		77,458
La Financiere Atalian SAS
7.25%, 01/15/20 (Call 01/15/17)c	EUR		100		144,843
Lafarge SA
4.75%, 09/30/20c	EUR		100		153,904
5.38%, 06/26/17c	EUR		200		297,683
6.50%, 07/15/16	USD		100		108,960
6.63%, 11/29/18c	EUR		100		158,085
6.75%, 12/16/19c	EUR		100		161,564
Loxam SAS
4.88%, 07/23/21 (Call 07/23/17)c	EUR		100		133,256
Medi-Partenaires SAS
7.00%, 05/15/20 (Call 05/15/16)c	EUR		100		140,657
Nexans SA
5.75%, 05/02/17	EUR		50		71,834
Numericable Group SA
4.88%, 05/15/19 (Call 05/15/16)a	USD		400		402,000
5.38%, 05/15/22 (Call 05/15/17)c	EUR		100		138,915
5.63%, 05/15/24 (Call 05/15/19)c	EUR		100		139,924
6.00%, 05/15/22 (Call 05/15/17)a	USD		200		201,000
6.25%, 05/15/24 (Call 05/15/19)a	USD		200		201,000
Peugeot SA
5.00%, 10/28/16	EUR		100		142,235
5.63%, 06/29/15	EUR		75		104,171
5.63%, 07/11/17	EUR		50		72,757
6.50%, 01/18/19c	EUR		100		152,388
6.88%, 03/30/16c	EUR		50		72,388
7.38%, 03/06/18c	EUR		100		154,336
Renault SA
3.13%, 03/05/21c	EUR		100		141,471
4.63%, 05/25/16c	EUR		100		141,744
4.63%, 09/18/17c	EUR		100		146,131
Rexel SA
5.13%, 06/15/20 (Call 06/15/16)c	EUR		100		142,597
6.13%, 12/15/19 (Call 12/15/15)	USD		200		207,000

Security		Principal (000s)		Value
SGD Group SAS
5.63%, 05/15/19 (Call 10/15/15)c	EUR		100	$	136,901
Societe Generale
5.92%, 12/31/49 (Call 04/05/17)d	USD		100		106,550
Tereos Finance Groupe I
4.25%, 03/04/20 (Call 03/04/19)	EUR		100		136,922
					5,462,763
GERMANY — 2.42%
Bayerische Landbank
5.75%, 10/23/17	EUR		100		148,538
Commerzbank AG
7.75%, 03/16/21	EUR		200		329,034
8.13%, 09/19/23a	USD		200		236,400
Deutsche Lufthansa AG
6.50%, 07/07/16	EUR		100		147,636
Deutsche Raststaetten Gruppe IV GmbH
6.75%, 12/30/20 (Call 12/30/16)c	EUR		100		141,884
Franz Haniel & Cie GmbH
5.88%, 02/01/17	EUR		100		148,786
Hapag-Lloyd AG
9.00%, 10/15/15 (Call 10/15/14)c	EUR		79		109,351
Heidelberger Druckmaschinen AG
9.25%, 04/15/18 (Call 09/01/14)c	EUR		50		71,040
Hornbach Baumarkt AG
3.88%, 02/15/20c	EUR		50		71,624
Norddeutsche Landesbank Girozentrale
6.00%, 06/29/20	EUR		50		75,069
Techem Energy Metering Service GmbH & Co. KG
6.13%, 10/01/19 (Call 10/01/15)c	EUR		100		142,720
ThyssenKrupp AG
3.13%, 10/25/19 (Call 07/25/19)c	EUR		100		139,318
4.00%, 08/27/18	EUR		75		107,726
4.38%, 02/28/17	EUR		100		142,330
Trionista TopCo GmbH
6.88%, 04/30/21 (Call 04/30/16)c	EUR		100		141,661
Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH
5.50%, 09/15/22 (Call 09/15/17)c	EUR		100		143,066
5.75%, 01/15/23 (Call 01/15/18)	EUR		100		144,591
7.50%, 03/15/19 (Call 03/15/15)c	EUR		100		141,995
					2,582,769
IRELAND — 2.03%
AerCap Ireland Capital Ltd./AerCap Global Aviation Trust
3.75%, 05/15/19a	USD		150		147,750
4.50%, 05/15/21a	USD		150		147,750
Allied Irish Banks PLC
2.75%, 04/16/19c	EUR		100		134,967
Ardagh Glass Finance PLC
7.13%, 06/15/17 (Call 08/01/14)c	EUR		50		67,673
Ardagh Packaging Finance PLC
9.13%, 10/15/20 (Call 10/15/15)a	USD		200		216,500
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc.
4.25%, 01/15/22 (Call 06/30/17)c	EUR		100		131,191
Bank of Ireland
4.25%, 06/11/24 (Call 06/11/19)c,d	EUR		100		130,567
Governor & Co. of the Bank of Ireland (The)
2.75%, 06/05/16	EUR		100		135,837
3.25%, 01/15/19c	EUR		100		139,222

22

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

July 31, 2014

Security		Principal (000s)		Value
Grifols Worldwide Operations Ltd.
5.25%, 04/01/22 (Call 04/01/17)a	USD		200	$	201,000
Inaer Aviation Finance Ltd.
9.50%, 08/01/17 (Call 08/01/15)c	EUR		50		69,875
Nara Cable Funding Ltd.
8.88%, 12/01/18 (Call 09/26/14)c	EUR		100		142,388
8.88%, 12/01/18 (Call 09/29/14)a	USD		200		212,500
Rottapharm Ltd.
6.13%, 11/15/19 (Call 11/15/15)c	EUR		100		144,058
Smurfit Kappa Acquisitions
4.13%, 01/30/20c	EUR		100		140,546
					2,161,824
ITALY — 4.73%
Astaldi SpA
7.13%, 12/01/20 (Call 12/01/16)c	EUR		100		143,969
Banca Monte dei Paschi di Siena SpA
3.63%, 04/01/19c	EUR		200		272,404
5.00%, 04/21/20c	EUR		100		138,791
Banca Popolare di Milano Scarl
7.13%, 03/01/21c	EUR		100		151,898
Banca Popolare di Vicenza
6.75%, 02/27/15	EUR		100		137,483
Banco Popolare SC
2.38%, 01/22/18	EUR		100		133,430
3.50%, 03/14/19c	EUR		100		136,494
3.75%, 01/28/16c	EUR		200		274,089
5.47%, 11/12/16c	EUR		50		69,743
6.00%, 11/05/20	EUR		50		72,308
Buzzi Unicem SpA
5.13%, 12/09/16c	EUR		50		71,851
Enel SpA
5.00%, 01/15/75 (Call 01/15/20)c,d	EUR		100		139,248
6.50%, 01/10/74 (Call 01/10/19)d	EUR		100		146,366
8.75%, 09/24/73 (Call 09/24/23)a,d	USD		200		235,500
GTECH SpA
8.25%, 03/31/66 (Call 03/31/16)c,d	EUR		50		71,700
Intesa Sanpaolo SpA
6.63%, 09/13/23c	EUR		108		177,238
Manutencoop Facility Management SpA
8.50%, 08/01/20 (Call 08/01/16)c	EUR		100		142,832
Snai SpA
7.63%, 06/15/18 (Call 12/15/15)c	EUR		100		143,449
TeamSystem Holding SpA
7.38%, 05/15/20 (Call 05/15/16)c	EUR		100		140,841
Telecom Italia SpA
4.00%, 01/21/20c	EUR		100		140,251
4.50%, 01/25/21c	EUR		100		143,054
4.75%, 05/25/18c	EUR		100		145,190
4.88%, 09/25/20c	EUR		100		145,881
5.25%, 02/10/22c	EUR		100		147,082
5.30%, 05/30/24	USD		200		194,688
5.38%, 01/29/19c	EUR		100		148,483
6.13%, 12/14/18	EUR		100		152,974
6.38%, 06/24/19	GBP		100		181,900
7.00%, 01/20/17c	EUR		100		150,306
UniCredit SpA
3.95%, 02/01/16	EUR		150		206,062
6.70%, 06/05/18	EUR		50		75,494
Unipol Gruppo Finanziario SpA
4.38%, 03/05/21c	EUR		100		142,943

Security		Principal (000s)		Value
Veneto Banca SCPA
4.00%, 07/31/15c	EUR		100	$	135,399
4.00%, 01/20/17c	EUR		100		135,791
					5,045,132
JAPAN — 0.32%
SoftBank Corp.
4.50%, 04/15/20	USD		200		201,500
4.63%, 04/15/20c	EUR		100		142,553
					344,053
JERSEY — 0.17%
AA Bond Co. Ltd.
9.50%, 07/31/43 (Call 01/31/16)c	GBP		100		186,979
					186,979
LUXEMBOURG — 8.24%
Altice Financing SA
6.50%, 01/15/22 (Call 12/15/16)a	USD		200		207,500
Altice SA
7.25%, 05/15/22 (Call 05/15/17)c	EUR		200		276,933
7.75%, 05/15/22 (Call 05/15/17)a	USD		225		232,594
ArcelorMittal SA
2.88%, 07/06/20c	EUR		100		133,990
5.00%, 02/25/17	USD		150		155,213
5.75%, 08/05/20	USD		100		104,504
5.88%, 11/17/17	EUR		200		297,817
6.00%, 03/01/21b	USD		100		103,958
6.13%, 06/01/18	USD		300		321,536
6.75%, 02/25/22	USD		50		54,252
10.35%, 06/01/19	USD		150		187,125
Beverage Packaging Holdings Luxembourg II SA/Beverage Packaging Holdings II
5.63%, 12/15/16 (Call 12/15/15)a,b	USD		25		25,125
6.00%, 06/15/17 (Call 06/15/16)a	USD		50		49,500
CHC Helicopter SA
9.25%, 10/15/20 (Call 10/15/15)	USD		90		96,794
Cirsa Funding Luxembourg SA
8.75%, 05/15/18 (Call 09/01/14)c	EUR		50		68,198
CNH Industrial Finance Europe SA
6.25%, 03/09/18c	EUR		200		302,455
ConvaTec Healthcare E SA
7.38%, 12/15/17 (Call 09/02/14)c	EUR		100		140,601
Fiat Finance & Trade SA
4.75%, 03/22/21c	EUR		100		140,238
4.75%, 07/15/22c	EUR		100		140,134
6.38%, 04/01/16c	EUR		100		142,894
6.63%, 03/15/18	EUR		150		223,781
6.75%, 10/14/19c	EUR		100		154,238
7.00%, 03/23/17c	EUR		100		148,070
7.75%, 10/17/16	EUR		100		148,534
Finmeccanica Finance SA
4.50%, 01/19/21	EUR		100		140,334
FMC Finance VIII SA
5.25%, 07/31/19c	EUR		50		76,191
GCS Holdco Finance I SA
6.50%, 11/15/18 (Call 11/15/15)c	EUR		100		140,378
HeidelbergCement Finance Luxembourg SA
3.25%, 10/21/21c	EUR		150		210,489
8.00%, 01/31/17c	EUR		200		310,108

23

Schedule of Investments   (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

July 31, 2014

Security		Principal (000s)		Value
8.50%, 10/31/19c	EUR		100	$	173,839
Ineos Group Holdings SA
6.50%, 08/15/18 (Call 05/15/15)c	EUR		100		138,818
Intelsat (Luxembourg) SA
6.75%, 06/01/18 (Call 06/01/15)	USD		100		104,000
7.75%, 06/01/21 (Call 06/01/17)	USD		100		102,500
8.13%, 06/01/23 (Call 06/01/18)b	USD		100		104,500
Intelsat Jackson Holdings SA
5.50%, 08/01/23 (Call 08/01/18)	USD		145		139,200
6.63%, 12/15/22 (Call 12/15/17)	USD		200		200,000
7.25%, 04/01/19 (Call 04/01/15)b	USD		100		105,125
7.25%, 10/15/20 (Call 10/15/15)	USD		100		106,000
7.50%, 04/01/21 (Call 04/01/16)	USD		150		160,125
Intralot Finance Luxembourg SA
9.75%, 08/15/18 (Call 08/15/16)	EUR		100		151,997
KION Finance SA
6.75%, 02/15/20 (Call 02/15/16)c	EUR		100		145,218
Mallinckrodt International Finance SA/Mallinckrodt CB LLC
5.75%, 08/01/22	USD		50		50,250
Millicom International Cellular SA
6.63%, 10/15/21 (Call 10/15/17)	USD		200		211,500
Nielsen Co. Luxembourg Sarl (The)
5.50%, 10/01/21 (Call 10/01/16)	USD		100		102,375
NII International Telecom SCA
7.88%, 08/15/19 (Call 02/15/17)b	USD		50		41,750
11.38%, 08/15/19 (Call 02/15/17)b	USD		100		84,500
Ontex IV SA
7.50%, 04/15/18 (Call 09/26/14)	EUR		100		139,072
Pacific Drilling SA
5.38%, 06/01/20 (Call 06/01/16)a,b	USD		100		95,750
Spie BondCo 3 SCA
11.00%, 08/15/19 (Call 08/15/15)c	EUR		100		150,859
Sunrise Communications Holdings SA
8.50%, 12/31/18 (Call 12/31/14)c	EUR		100		141,166
Telecom Italia Capital SA
7.00%, 06/04/18			100		113,250
7.18%, 06/18/19	USD		100		113,330
Telenet Finance V Luxembourg SCA
6.25%, 08/15/22 (Call 08/15/17)c	EUR		100		145,842
Trinseo Materials Operating SCA/Trinseo Materials Finance Inc.
8.75%, 02/01/19 (Call 08/01/15)	USD		118		124,490
Wind Acquisition Finance SA
4.00%, 07/15/20 (Call 07/15/16)c	EUR		150		200,840
7.00%, 04/23/21 (Call 04/23/17)c	EUR		200		287,061
7.38%, 04/23/21 (Call 04/23/17)	USD		400		422,000
					8,788,841
NETHERLANDS — 3.10%
Deutsche Annington Finance BV
4.63%, 04/08/74 (Call 04/08/19)c,d	EUR		100		136,493
EDP Finance BV
3.75%, 06/22/15	EUR		100		136,737
4.13%, 01/20/21c	EUR		100		143,490
4.75%, 09/26/16c	EUR		100		142,558
4.90%, 10/01/19a	USD		250		259,700
5.75%, 09/21/17c	EUR		150		223,745
Fresenius Finance BV
4.00%, 02/01/24c	EUR		100		145,185
4.25%, 04/15/19c	EUR		100		148,362
Grupo Isolux Corsan Finance BV
6.63%, 04/15/21 (Call 04/15/17)c	EUR		100		134,190

Security		Principal (000s)		Value
InterXion Holding NV
6.00%, 07/15/20 (Call 07/15/16)c	EUR		100	$	141,159
NXP BV/NXP Funding LLC
3.75%, 06/01/18	USD		200		199,500
OI European Group BV
6.75%, 09/15/20c	EUR		100		156,546
Phoenix PIB Dutch Finance BV
3.13%, 05/27/20	EUR		100		132,342
Schaeffler Finance BV
3.25%, 05/15/19 (Call 05/15/16)c	EUR		100		133,270
4.75%, 05/15/21 (Call 05/15/16)a	USD		200		203,000
7.75%, 02/15/17c	EUR		100		151,640
Sensata Technologies BV
4.88%, 10/15/23	USD		25		24,750
6.50%, 05/15/19 (Call 05/15/15)b	USD		100		104,500
ThyssenKrupp Finance Nederland BV
8.50%, 02/25/16	EUR		150		222,827
UPC Holding BV
6.75%, 03/15/23 (Call 03/15/18)c	EUR		100		146,678
8.38%, 08/15/20 (Call 08/15/15)c	EUR		50		72,804
Ziggo Bond Co. BV
8.00%, 05/15/18 (Call 09/26/14)c	EUR		100		146,498
					3,305,974
NORWAY — 0.04%
Norske Skogindustrier ASA
7.00%, 06/26/17c	EUR		50		45,913
					45,913
PORTUGAL — 0.62%
Banco Espirito Santo SA
2.63%, 05/08/17c	EUR		100		118,619
5.88%, 11/09/15c	EUR		100		125,032
7.13%, 11/28/23 (Call 11/28/18)c,d	EUR		100		72,355
Brisa Concessao Rodoviaria SA
3.88%, 04/01/21c	EUR		100		139,364
4.50%, 12/05/16	EUR		50		70,858
Caixa Geral de Depositos SA
5.63%, 12/04/15c	EUR		100		138,817
					665,045
SINGAPORE — 0.19%
Flextronics International Ltd.
4.63%, 02/15/20	USD		200		202,000
					202,000
SPAIN — 1.32%
Abengoa Finance SAU
8.88%, 02/05/18c	EUR		100		152,924
Abengoa SA
8.50%, 03/31/16	EUR		50		71,916
Banco de Sabadell SA
6.25%, 04/26/20	EUR		50		74,928
Bankia SA
4.00%, 05/22/24 (Call 05/22/19)c,d	EUR		100		131,013
4.38%, 02/14/17	EUR		100		142,996
Bankinter SA
6.38%, 09/11/19	EUR		100		154,097

24

Schedule of Investments   (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

July 31, 2014

Security		Principal (000s)		Value
BBVA International Preferred SAU
5.92%, 04/29/49 (Call 04/18/17)d	USD		50	$	52,250
BPE Financiaciones SA
2.88%, 05/19/16	EUR		100		136,372
4.00%, 07/17/15c	EUR		100		136,933
CaixaBank SA
5.00%, 11/14/23 (Call 11/14/18)c,d	EUR		100		144,390
Mapfre SA
5.92%, 07/24/37 (Call 07/24/17)d	EUR		50		71,025
Obrascon Huarte Lain SA
7.38%, 04/28/15c	EUR		100		138,633
					1,407,477
SWEDEN — 0.13%
Verisure Holding AB
8.75%, 09/01/18 (Call 09/02/14)	EUR		100		142,163
					142,163
UNITED KINGDOM — 6.13%
Algeco Scotsman Global Finance PLC
8.50%, 10/15/18 (Call 10/15/15)a,b	USD		200		205,500
9.00%, 10/15/18 (Call 10/15/15)c	EUR		100		138,824
Alpha Credit Group PLC
3.38%, 06/17/17c	EUR		100		129,799
Arqiva Broadcast Finance PLC
9.50%, 03/31/20 (Call 03/31/16)c	GBP		100		187,612
Boparan Finance PLC
4.38%, 07/15/21 (Call 07/15/17)	EUR		100		126,248
British Airways PLC
8.75%, 08/23/16	GBP		50		93,014
Co-Operative Bank PLC
5.13%, 09/20/17	GBP		50		83,571
EC Finance PLC
9.75%, 08/01/17 (Call 08/18/14)c	EUR		100		140,402
Eco-Bat Finance PLC
7.75%, 02/15/17 (Call 09/26/14)	EUR		100		137,229
ERB Hellas PLC
4.25%, 06/26/18c	EUR		100		130,846
Ineos Finance PLC
7.50%, 05/01/20 (Call 05/01/15)a,b	USD		200		215,000
Infinis PLC
7.00%, 02/15/19 (Call 02/15/16)a	GBP		100		178,116
Inmarsat Finance PLC
4.88%, 05/15/22 (Call 05/15/17)a	USD		100		100,000
Jaguar Land Rover Automotive PLC
8.13%, 05/15/21 (Call 05/15/16)	USD		150		166,212
8.25%, 03/15/20 (Call 03/15/16)	GBP		100		186,760
Kerling PLC
10.63%, 02/01/17 (Call 09/26/14)c	EUR		50		70,693
Matalan Finance PLC
6.88%, 06/01/19 (Call 05/30/16)	GBP		100		161,655
NBG Finance PLC
4.38%, 04/30/19c	EUR		100		130,522
New Look Bondco I PLC
8.75%, 05/14/18 (Call 05/14/15)	GBP		100		178,116
Odeon & UCI Finco PLC
9.00%, 08/01/18 (Call 08/11/14)	GBP		100		171,118
OTE PLC
4.63%, 05/20/16	EUR		150		207,724
Paragon Offshore Ltd.

Security		Principal (000s)		Value
6.75%, 07/15/22 (Call 07/15/18)a	USD		50	$	48,250
7.25%, 08/15/24 (Call 08/15/19)a	USD		50		47,750
Phones4u Finance PLC
9.50%, 04/01/18 (Call 09/26/14)	GBP		100		172,840
Piraeus Group Finance PLC
5.00%, 03/27/17c	EUR		100		135,547
PPC Finance PLC
5.50%, 05/01/19 (Call 05/01/16)c	EUR		100		133,900
Priory Group No. 3 PLC
7.00%, 02/15/18 (Call 09/01/14)	GBP		100		176,005
Rexam PLC
6.75%, 06/29/67 (Call 06/29/17)c,d	EUR		50		70,044
Royal Bank of Scotland Group PLC
3.63%, 03/25/24 (Call 03/25/19)c,d	EUR		100		135,905
4.63%, 09/22/21 (Call 09/22/16)d	EUR		100		137,695
5.13%, 05/28/24	USD		200		200,050
6.00%, 12/19/23	USD		150		159,977
6.10%, 06/10/23	USD		75		80,658
6.13%, 12/15/22	USD		250		269,209
Royal Bank of Scotland PLC (The)
4.35%, 01/23/17	EUR		100		141,373
6.93%, 04/09/18	EUR		100		154,840
Stretford 79 PLC
6.25%, 07/15/21 (Call 07/15/17)c	GBP		100		165,875
Thomas Cook Finance PLC
7.75%, 06/15/20 (Call 06/15/16)c	EUR		100		142,943
Tullow Oil PLC
6.25%, 04/15/22 (Call 04/15/17)	USD		200		202,500
Virgin Media Finance PLC
8.38%, 10/15/19 (Call 10/15/14)	USD		100		104,802
Virgin Media Secured Finance PLC
5.38%, 04/15/21 (Call 04/15/17)	USD		200		203,500
5.50%, 01/15/21	GBP		100		173,051
5.50%, 01/15/25 (Call 01/15/19)	GBP		100		171,160
6.00%, 04/15/21 (Call 04/15/17)c	GBP		100		172,206
					6,539,041
UNITED STATES — 56.55%
Access Midstream Partners LP/ACMP Finance Corp.
4.88%, 05/15/23 (Call 12/15/17)	USD		100		103,374
4.88%, 03/15/24 (Call 03/15/19)	USD		150		155,011
6.13%, 07/15/22 (Call 01/15/17)	USD		50		53,499
Activision Blizzard Inc.
5.63%, 09/15/21 (Call 09/15/16)a	USD		125		131,562
6.13%, 09/15/23 (Call 09/15/18)a	USD		100		107,750
ADT Corp. (The)
2.25%, 07/15/17	USD		100		98,484
3.50%, 07/15/22b	USD		75		66,199
4.13%, 04/15/19b	USD		75		74,518
4.13%, 06/15/23b	USD		50		45,465
6.25%, 10/15/21b	USD		100		103,570
Advanced Micro Devices Inc.
6.75%, 03/01/19a	USD		75		76,875
7.00%, 07/01/24 (Call 07/01/19)a,b	USD		25		24,750
7.50%, 08/15/22	USD		50		52,000
7.75%, 08/01/20 (Call 08/01/15)	USD		50		51,750
AES Corp. (The)
4.88%, 05/15/23 (Call 05/15/18)	USD		150		143,051
7.38%, 07/01/21 (Call 06/01/21)	USD		100		114,558
Affinion Group Inc.
7.88%, 12/15/18 (Call 12/15/14)	USD		50		43,938

25

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

July 31, 2014

Security	Principal (000s)			Value
AK Steel Corp.
7.63%, 05/15/20 (Call 05/15/15)b		USD	40	$	40,700
Alcatel-Lucent USA Inc.
6.75%, 11/15/20 (Call 11/15/16)a		USD	200		207,000
Alcoa Inc.
5.40%, 04/15/21 (Call 01/15/21)		USD	50		53,157
Alere Inc.
7.25%, 07/01/18 (Call 12/15/15)		USD	50		52,875
8.63%, 10/01/18 (Call 10/01/14)		USD	50		52,188
Aleris International Inc.
7.63%, 02/15/18 (Call 09/02/14)		USD	50		51,250
7.88%, 11/01/20 (Call 11/01/15)		USD	50		51,250
Ally Financial Inc.
3.13%, 01/15/16		USD	100		101,240
3.50%, 07/18/16		USD	150		153,000
3.50%, 01/27/19		USD	100		99,250
4.75%, 09/10/18		USD	100		104,500
5.50%, 02/15/17		USD	100		106,599
6.25%, 12/01/17		USD	100		108,485
7.50%, 09/15/20		USD	100		115,174
8.00%, 03/15/20		USD	250		293,750
Alpha Natural Resources Inc.
6.00%, 06/01/19 (Call 09/29/14)		USD	100		68,250
7.50%, 08/01/20 (Call 08/01/16)a,b		USD	100		92,500
9.75%, 04/15/18b		USD	50		43,750
Altegrity Inc.
9.50%, 07/01/19 (Call 07/01/17)a		USD	25		24,969
AMC Entertainment Inc.
9.75%, 12/01/20 (Call 12/01/15)		USD	100		111,750
AMC Networks Inc.
4.75%, 12/15/22 (Call 12/15/17)		USD	100		99,746
American Axle & Manufacturing Inc.
6.25%, 03/15/21 (Call 03/15/16)b		USD	50		53,000
6.63%, 10/15/22 (Call 10/15/17)b		USD	50		53,875
American Energy-Permian Basin LLC/AEPB Finance Corp.
7.13%, 11/01/20 (Call 01/31/17)a		USD	100		97,027
AmeriGas Finance LLC/AmeriGas Finance Corp.
6.75%, 05/20/20 (Call 05/20/16)		USD	100		105,578
7.00%, 05/20/22 (Call 05/20/17)b		USD	100		107,202
Amkor Technology Inc.
6.38%, 10/01/22 (Call 10/01/16)b		USD	50		52,250
6.63%, 06/01/21 (Call 06/01/15)		USD	50		52,375
Amsurg Corp.
5.63%, 07/15/22 (Call 07/15/17)a		USD	25		25,125
Antero Resources Finance Corp.
5.38%, 11/01/21 (Call 11/01/16)		USD	100		102,000
6.00%, 12/01/20 (Call 12/01/15)		USD	50		52,250
APX Group Inc.
6.38%, 12/01/19 (Call 12/01/15)b		USD	50		50,375
8.75%, 12/01/20 (Call 12/01/15)		USD	100		98,750
Aramark Services Inc.
5.75%, 03/15/20 (Call 03/15/15)		USD	100		103,000
Arch Coal Inc.
7.00%, 06/15/19 (Call 06/15/15)b		USD	150		101,250
7.25%, 06/15/21 (Call 06/15/16)b		USD	50		31,976
Ashland Inc.
3.88%, 04/15/18 (Call 03/15/18)		USD	100		100,287
4.75%, 08/15/22 (Call 05/15/22)		USD	150		145,537
Athlon Holdings LP/Athlon Finance Corp.
6.00%, 05/01/22 (Call 05/01/17)a		USD	50		50,402
Atlas Pipeline Partners LP/Atlas Pipeline Finance Corp.
4.75%, 11/15/21 (Call 05/15/16)		USD	50		47,716

Security	Principal (000s)			Value
6.63%, 10/01/20 (Call 10/01/16)		USD	100	$	104,942
Audatex North America Inc.
6.00%, 06/15/21 (Call 06/15/17)a		USD	125		130,937
Avaya Inc.
7.00%, 04/01/19 (Call 04/01/15)a,b		USD	100		98,000
10.50%, 03/01/21 (Call 03/01/17)a,b		USD	100		87,500
Avis Budget Car Rental LLC/Avis Budget Finance Inc.
5.13%, 06/01/22 (Call 06/01/17)a,b		USD	25		24,188
Avon Products Inc.
5.00%, 03/15/23b		USD	100		97,562
Axiall Corp.
4.88%, 05/15/23 (Call 05/15/18)b		USD	50		49,000
B/E Aerospace Inc.
5.25%, 04/01/22 (Call 04/01/17)		USD	150		162,562
6.88%, 10/01/20 (Call 10/01/15)		USD	100		108,625
Ball Corp.
4.00%, 11/15/23		USD	100		92,250
5.00%, 03/15/22		USD	50		49,875
5.75%, 05/15/21 (Call 11/15/15)		USD	100		105,375
Belden Inc.
5.50%, 04/15/23 (Call 04/15/18)c		EUR	100		138,818
Berry Petroleum Co. LLC
6.38%, 09/15/22 (Call 03/15/17)		USD	100		102,071
Berry Plastics Corp.
5.50%, 05/15/22 (Call 05/15/17)b		USD	50		49,125
Best Buy Co. Inc.
5.50%, 03/15/21 (Call 12/15/20)		USD	100		102,500
Big Heart Pet Brands
7.63%, 02/15/19 (Call 09/29/14)		USD	69		71,587
Biomet Inc.
6.50%, 08/01/20 (Call 08/01/15)		USD	125		134,331
6.50%, 10/01/20 (Call 10/01/15)		USD	50		53,344
BMC Software Inc.
8.13%, 07/15/21 (Call 07/15/16)a		USD	150		149,250
Boyd Gaming Corp.
9.13%, 12/01/18 (Call 12/01/14)		USD	25		26,149
BreitBurn Energy Partners LP/BreitBurn Finance Corp.
7.88%, 04/15/22 (Call 01/15/17)		USD	100		104,855
Building Materials Corp. of America
6.75%, 05/01/21 (Call 05/01/16)a		USD	100		106,000
Cablevision Systems Corp.
5.88%, 09/15/22		USD	50		49,750
7.75%, 04/15/18		USD	150		166,875
8.00%, 04/15/20b		USD	75		84,750
8.63%, 09/15/17		USD	100		114,750
Caesars Entertainment Operating Co. Inc.
8.50%, 02/15/20 (Call 02/15/16)b		USD	75		65,250
9.00%, 02/15/20 (Call 02/15/16)			300		251,250
10.00%, 12/15/18 (Call 09/02/14)		USD	300		99,000
10.75%, 02/01/16 (Call 09/02/14)		USD	75		43,875
11.25%, 06/01/17 (Call 09/02/14)		USD	150		132,000
12.75%, 04/15/18 (Call 09/02/14)		USD	50		17,500
Caesars Entertainment Resort Properties LLC/Caesars Entertainment Resort Properties Finance Inc.
8.00%, 10/01/20 (Call 10/01/16)a		USD	100		102,806
11.00%, 10/01/21 (Call 10/01/16)		USD	125		132,872
Caesars Growth Properties Holdings LLC/Caesars Growth Properties Finance Inc.
9.38%, 05/01/22 (Call 05/01/17)a		USD	75		75,937
Calpine Corp.
5.38%, 01/15/23 (Call 10/15/18)		USD	200		196,008
5.75%, 01/15/25 (Call 10/15/19)		USD	25		24,500
5.88%, 01/15/24 (Call 11/01/18)a		USD	25		26,125
6.00%, 01/15/22 (Call 11/01/16)a		USD	25		26,313
7.88%, 01/15/23 (Call 01/15/17)a		USD	100		109,000

26

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

July 31, 2014

Security	Principal (000s)			Value
Calumet Specialty Products Partners LP/Calumet Finance Corp.
6.50%, 04/15/21 (Call 04/15/17)a		USD	100	$	101,000
Case New Holland Industrial Inc.
7.88%, 12/01/17		USD	100		113,250
CBRE Services Inc.
5.00%, 03/15/23 (Call 03/15/18)		USD	50		49,690
CCO Holdings LLC/CCO Holdings Capital Corp.
5.13%, 02/15/23 (Call 02/15/18)		USD	100		97,187
5.25%, 09/30/22 (Call 09/30/17)		USD	100		98,250
5.75%, 09/01/23 (Call 03/01/18)		USD	75		75,000
5.75%, 01/15/24 (Call 07/15/18)		USD	50		49,750
6.50%, 04/30/21 (Call 04/30/15)		USD	150		156,405
6.63%, 01/31/22 (Call 01/31/17)		USD	100		104,750
7.00%, 01/15/19 (Call 09/02/14)		USD	100		104,250
7.38%, 06/01/20 (Call 12/01/15)		USD	150		160,500
CDW LLC/CDW Finance Corp.
8.50%, 04/01/19 (Call 04/01/15)		USD	100		107,050
Celanese U.S. Holdings LLC
4.63%, 11/15/22		USD	100		99,739
6.63%, 10/15/18 (Call 10/15/14)		USD	100		103,552
CenturyLink Inc.
Series V
5.63%, 04/01/20		USD	100		104,000
5.80%, 03/15/22		USD	100		102,750
6.00%, 04/01/17		USD	100		108,625
6.45%, 06/15/21		USD	150		161,625
Series W
6.75%, 12/01/23b		USD	50		54,500
Cenveo Corp.
6.00%, 08/01/19 (Call 02/01/19)a		USD	50		48,125
Cequel Communications Holdings I LLC/Cequel Capital Corp.
5.13%, 12/15/21 (Call 06/15/16)a		USD	125		120,937
6.38%, 09/15/20 (Call 09/15/15)a		USD	100		103,500
Ceridian HCM Holding Inc.
11.00%, 03/15/21 (Call 03/15/16)a		USD	50		57,000
Ceridian LLC
8.88%, 07/15/19 (Call 07/15/15)a		USD	100		111,000
Chaparral Energy Inc.
7.63%, 11/15/22 (Call 05/15/17)		USD	100		105,750
Chesapeake Energy Corp.
3.25%, 03/15/16 (Call 09/29/14)		USD	50		49,947
4.88%, 04/15/22 (Call 04/15/17)		USD	225		225,373
5.38%, 06/15/21 (Call 06/15/16)		USD	50		51,382
5.75%, 03/15/23		USD	100		107,407
6.13%, 02/15/21		USD	100		108,841
6.25%, 01/15/17		EUR	50		72,660
6.63%, 08/15/20		USD	200		223,867
Chesapeake Oilfield Operating LLC/Chesapeake Oilfield Finance Inc.
6.63%, 11/15/19 (Call 11/15/15)		USD	50		53,188
Chrysler Group LLC/CG Co-Issuer Inc.
8.00%, 06/15/19 (Call 06/15/15)		USD	200		213,000
8.25%, 06/15/21 (Call 06/15/16)		USD	250		274,687
CHS/Community Health Systems Inc.
5.13%, 08/15/18 (Call 08/15/15)b		USD	150		153,750
5.13%, 08/01/21 (Call 02/01/17)a		USD	75		75,375
6.88%, 02/01/22 (Call 02/01/18)a		USD	275		283,594
7.13%, 07/15/20 (Call 07/15/16)		USD	100		106,500
8.00%, 11/15/19 (Call 11/15/15)		USD	200		214,000
Cimarex Energy Co.
4.38%, 06/01/24 (Call 03/01/24)		USD	100		102,728

Security	Principal (000s)			Value
Cincinnati Bell Inc.
8.38%, 10/15/20 (Call 10/15/15)		USD	81	$	87,885
Cinemark USA Inc.
5.13%, 12/15/22 (Call 12/15/17)b		USD	50		50,150
CIT Group Inc.
3.88%, 02/19/19		USD	100		100,500
4.25%, 08/15/17		USD	150		153,375
5.00%, 05/15/17		USD	100		105,500
5.00%, 08/15/22		USD	100		103,000
5.00%, 08/01/23		USD	50		51,100
5.25%, 03/15/18		USD	150		159,750
5.38%, 05/15/20		USD	75		80,250
5.50%, 02/15/19a		USD	150		160,500
6.63%, 04/01/18a		USD	100		110,638
Claire’s Stores Inc.
8.88%, 03/15/19 (Call 03/15/15)		USD	50		41,000
9.00%, 03/15/19 (Call 03/15/15)a		USD	100		100,750
Clean Harbors Inc.
5.13%, 06/01/21 (Call 12/01/16)		USD	100		100,250
5.25%, 08/01/20 (Call 08/01/16)		USD	100		100,500
Clear Channel Communications Inc.
9.00%, 12/15/19 (Call 07/15/15)		USD	125		128,125
9.00%, 03/01/21 (Call 03/01/16)		USD	150		155,062
10.00%, 01/15/18 (Call 07/15/16)		USD	50		45,625
11.25%, 03/01/21 (Call 03/01/16)		USD	75		83,437
Clear Channel Worldwide Holdings Inc.
6.50%, 11/15/22 (Call 11/15/17)		USD	200		209,500
Series B
7.63%, 03/15/20 (Call 03/15/15)b		USD	275		291,156
CNH Industrial Capital LLC
3.25%, 02/01/17		USD	100		99,380
3.63%, 04/15/18		USD	100		99,625
3.88%, 11/01/15		USD	100		100,875
Commercial Metals Co.
7.35%, 08/15/18		USD	100		112,484
CommScope Inc.
5.00%, 06/15/21 (Call 06/15/17)a		USD	75		74,250
5.50%, 06/15/24 (Call 06/15/19)a		USD	50		49,625
Concho Resources Inc.
5.50%, 10/01/22 (Call 10/01/17)b		USD	100		104,773
5.50%, 04/01/23 (Call 10/01/17)		USD	100		104,567
6.50%, 01/15/22 (Call 01/15/17)		USD	100		106,592
CONSOL Energy Inc.
5.88%, 04/15/22 (Call 04/15/17)a		USD	150		152,635
8.25%, 04/01/20 (Call 04/01/15)		USD	100		106,677
Constellation Brands Inc.
6.00%, 05/01/22		USD	150		164,812
7.25%, 05/15/17		USD	100		112,250
Covanta Holding Corp.
5.88%, 03/01/24 (Call 03/01/19)		USD	125		126,250
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.
6.13%, 03/01/22 (Call 11/01/16)a		USD	75		77,461
Crimson Merger Sub Inc.
6.63%, 05/15/22 (Call 05/15/17)a,b		USD	125		118,750
Crown Americas LLC/Crown Americas Capital Corp. IV
4.50%, 01/15/23		USD	100		94,500
Crown Castle International Corp.
4.88%, 04/15/22		USD	100		99,750
5.25%, 01/15/23		USD	150		151,500
CSC Holdings LLC
5.25%, 06/01/24a		USD	50		47,875
6.75%, 11/15/21		USD	100		107,250

27

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

July 31, 2014

Security	Principal (000s)			Value
Dana Holding Corp.
5.38%, 09/15/21 (Call 09/15/16)b		USD	100	$	102,647
DaVita HealthCare Partners Inc.
5.13%, 07/15/24 (Call 07/15/19)b		USD	175		172,375
5.75%, 08/15/22 (Call 08/15/17)		USD	50		52,750
6.63%, 11/01/20 (Call 11/01/14)		USD	100		105,250
DCP Midstream LLC
5.85%, 05/21/43 (Call 05/21/23)a,d		USD	100		97,875
Dell Inc.
5.65%, 04/15/18			50		52,750
5.88%, 06/15/19b		USD	150		159,000
Denali Borrower LLC/Denali Finance Corp.
5.63%, 10/15/20 (Call 10/15/16)a		USD	125		130,000
Denbury Resources Inc.
4.63%, 07/15/23 (Call 01/15/18)		USD	100		94,110
5.50%, 05/01/22 (Call 05/01/17)		USD	100		99,340
DISH DBS Corp.
4.25%, 04/01/18b		USD	100		101,507
4.63%, 07/15/17b		USD	100		103,750
5.00%, 03/15/23		USD	175		172,296
5.13%, 05/01/20		USD	100		101,698
5.88%, 07/15/22		USD	150		154,875
6.75%, 06/01/21		USD	150		164,250
7.13%, 02/01/16			100		107,105
7.88%, 09/01/19		USD	150		172,445
DJO Finance LLC/DJO Finance Corp.
9.88%, 04/15/18 (Call 04/15/15)		USD	50		53,250
DPL Inc.
6.50%, 10/15/16 (Call 09/15/16)b		USD	150		158,620
7.25%, 10/15/21 (Call 07/15/21)		USD	100		105,496
DR Horton Inc.
3.63%, 02/15/18 (Call 11/15/17)b		USD	100		101,250
E*TRADE Financial Corp.
6.00%, 11/15/17 (Call 11/15/14)b		USD	100		103,500
Eagle Spinco Inc.
4.63%, 02/15/21 (Call 02/15/18)		USD	100		97,875
El Paso LLC
7.00%, 06/15/17		USD	100		110,760
Endo Finance LLC
5.75%, 01/15/22 (Call 01/15/17)a		USD	75		75,469
Endo Finance LLC & Endo Finco Inc.
5.38%, 01/15/23 (Call 07/15/17)a		USD	25		24,375
7.00%, 07/15/19 (Call 07/15/15)a		USD	100		105,500
Energy Transfer Equity LP
5.88%, 01/15/24		USD	50		50,875
5.88%, 01/15/24 (Call 10/15/23)a		USD	125		127,187
7.50%, 10/15/20		USD	100		113,000
Energy XXI Gulf Coast Inc.
6.88%, 03/15/24 (Call 03/15/19)a		USD	25		25,059
7.50%, 12/15/21 (Call 12/15/16)		USD	55		57,738
9.25%, 12/15/17 (Call 12/15/14)		USD	100		105,326
EP Energy LLC/EP Energy Finance Inc.
Series WI
9.38%, 05/01/20 (Call 05/01/16)		USD	150		166,875
EP Energy LLC/Everest Acquisition Finance Inc. Series WI
6.88%, 05/01/19 (Call 05/01/15)		USD	100		105,243
Equinix Inc.
4.88%, 04/01/20 (Call 04/01/17)		USD	25		25,250
5.38%, 04/01/23 (Call 04/01/18)b		USD	100		100,250
7.00%, 07/15/21 (Call 07/15/16)b		USD	100		109,000

Security	Principal (000s)			Value
EXCO Resources Inc.
8.50%, 04/15/22 (Call 04/15/17)		USD	75	$	75,913
Felcor Lodging LP
5.63%, 03/01/23 (Call 03/01/18)		USD	50		50,125
Ferrellgas LP/Ferrellgas Finance Corp.
6.75%, 01/15/22 (Call 11/15/16)a		USD	25		26,003
Fiat Finance North America Inc.
5.63%, 06/12/17		EUR	100		144,192
Fifth Third Bancorp
5.10%, 12/29/49 (Call 06/30/23)d		USD	100		94,750
First Data Corp.
6.75%, 11/01/20 (Call 11/01/15)a		USD	97		102,820
7.38%, 06/15/19 (Call 06/15/15)a		USD	150		157,875
8.25%, 01/15/21 (Call 01/15/16)a,b		USD	250		266,875
8.88%, 08/15/20 (Call 08/15/15)a		USD	50		54,000
10.63%, 06/15/21 (Call 04/15/16)		USD	33		37,475
11.25%, 01/15/21 (Call 01/15/16)		USD	33		37,414
11.75%, 08/15/21 (Call 05/15/16)		USD	331		381,279
12.63%, 01/15/21 (Call 01/15/16)		USD	300		357,900
FirstEnergy Corp.
Series A
2.75%, 03/15/18 (Call 02/15/18)		USD	100		100,577
Series B
4.25%, 03/15/23 (Call 12/15/22)		USD	50		49,742
Florida East Coast Holdings Corp.
6.75%, 05/01/19 (Call 05/01/16)a		USD	100		102,625
Freescale Semiconductor Inc.
6.00%, 01/15/22 (Call 11/15/16)a		USD	100		103,000
10.75%, 08/01/20 (Call 08/01/15)		USD	50		55,500
Fresenius Medical Care US Finance II Inc.
5.63%, 07/31/19a		USD	200		213,500
Fresenius Medical Care US Finance Inc.
5.75%, 02/15/21a		USD	100		108,000
Frontier Communications Corp.
7.13%, 01/15/23b		USD	100		103,500
7.63%, 04/15/24b		USD	100		104,000
8.25%, 04/15/17b		USD	200		227,750
8.50%, 04/15/20		USD	100		115,750
8.75%, 04/15/22b		USD	50		57,000
Gannett Co. Inc.
5.13%, 10/15/19 (Call 10/15/16)a		USD	100		101,750
6.38%, 10/15/23 (Call 10/15/18)a		USD	100		105,750
Gates Global LLC/Gates Global Co.
6.00%, 07/15/22 (Call 07/15/17)a		USD	75		72,562
General Motors Co.
3.50%, 10/02/18		USD	75		75,562
General Motors Financial Co. Inc.
2.75%, 05/15/16b		USD	100		101,000
3.25%, 05/15/18		USD	100		100,000
4.25%, 05/15/23		USD	205		201,412
4.75%, 08/15/17		USD	250		262,500
GenOn Energy Inc.
9.50%, 10/15/18		USD	100		104,559
9.88%, 10/15/20 (Call 10/15/15)		USD	100		103,947
GLP Capital LP/GLP Financing II Inc.
4.88%, 11/01/20 (Call 08/01/20)		USD	25		25,375
5.38%, 11/01/23 (Call 08/01/23)b		USD	100		101,937
Goodyear Tire & Rubber Co. (The)
6.50%, 03/01/21 (Call 03/01/16)		USD	100		105,750
8.25%, 08/15/20 (Call 08/15/15)		USD	100		108,000
Halcon Resources Corp.
8.88%, 05/15/21 (Call 11/15/16)		USD	125		129,681
9.25%, 02/15/22 (Call 08/15/17)		USD	100		105,381
9.75%, 07/15/20 (Call 07/15/16)		USD	50		53,473

28

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

July 31, 2014

Security	Principal (000s)			Value
Hanesbrands Inc.
6.38%, 12/15/20 (Call 12/15/15)		USD	100	$	106,500
Harbinger Group Inc.
7.75%, 01/15/22 (Call 01/15/17)		USD	50		51,250
7.88%, 07/15/19 (Call 01/15/16)		USD	50		54,500
Harland Clarke Holdings Corp.
9.25%, 03/01/21 (Call 03/01/17)a		USD	100		100,750
HCA Holdings Inc.
4.75%, 05/01/23		USD	100		98,250
5.88%, 03/15/22		USD	100		106,250
6.25%, 02/15/21		USD	75		79,350
6.50%, 02/15/16b		USD	100		106,375
6.50%, 02/15/20		USD	400		436,500
7.25%, 09/15/20 (Call 03/15/15)		USD	100		105,750
7.50%, 02/15/22		USD	200		226,750
7.75%, 05/15/21 (Call 11/15/15)		USD	250		268,125
HCA Inc.
3.75%, 03/15/19		USD	150		148,875
5.00%, 03/15/24b		USD	200		199,000
5.88%, 05/01/23		USD	100		103,250
HD Supply Inc.
7.50%, 07/15/20 (Call 10/15/16)		USD	200		213,062
8.13%, 04/15/19 (Call 04/15/15)		USD	100		108,000
11.00%, 04/15/20 (Call 04/15/16)		USD	100		114,750
11.50%, 07/15/20 (Call 10/15/16)		USD	50		58,375
Hercules Offshore Inc.
8.75%, 07/15/21 (Call 07/15/17)a		USD	50		50,934
Hertz Corp. (The)
5.88%, 10/15/20 (Call 10/15/15)		USD	100		102,401
6.25%, 10/15/22 (Call 10/15/17)		USD	100		103,250
6.75%, 04/15/19 (Call 04/15/15)		USD	150		155,279
Hexion U.S. Finance Corp.
6.63%, 04/15/20 (Call 04/15/15)		USD	125		129,375
Hexion U.S. Finance Corp./Hexion Nova Scotia Finance ULC
9.00%, 11/15/20 (Call 11/15/15)b		USD	100		99,500
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp.
5.63%, 10/15/21 (Call 10/15/16)a		USD	100		104,750
HJ Heinz Co.
4.25%, 10/15/20 (Call 04/15/15)		USD	300		298,125
Hologic Inc.
6.25%, 08/01/20 (Call 08/01/15)b		USD	100		104,500
Hughes Satellite Systems Corp.
6.50%, 06/15/19		USD	100		110,000
7.63%, 06/15/21		USD	100		112,750
Huntington Ingalls Industries Inc.
7.13%, 03/15/21 (Call 03/15/16)		USD	50		53,500
Huntsman International LLC
8.63%, 03/15/21 (Call 09/15/15)b		USD	100		108,500
IAC/InterActiveCorp
4.75%, 12/15/22 (Call 12/15/17)		USD	50		48,000
4.88%, 11/30/18 (Call 11/30/14)		USD	25		25,625
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
4.88%, 03/15/19 (Call 07/15/16)		USD	200		201,000
5.88%, 02/01/22 (Call 08/01/17)b		USD	170		174,462
6.00%, 08/01/20 (Call 02/01/17)b		USD	50		52,500
Infor US Inc.
9.38%, 04/01/19 (Call 04/01/15)		USD	100		109,250
International Lease Finance Corp.
3.88%, 04/15/18		USD	100		99,626
5.75%, 05/15/16b		USD	100		105,589

Security	Principal (000s)			Value
5.88%, 04/01/19		USD	150	$	161,001
5.88%, 08/15/22		USD	100		106,750
8.25%, 12/15/20		USD	200		239,963
8.75%, 03/15/17		USD	200		227,324
inVentiv Health Inc.
9.00%, 01/15/18 (Call 01/15/16)a,b		USD	75		79,125
11.00%, 08/15/18 (Call 09/02/14)a		USD	25		22,750
Iron Mountain Inc.
5.75%, 08/15/24 (Call 08/15/17)		USD	75		74,437
6.00%, 08/15/23 (Call 08/15/18)		USD	100		104,397
7.75%, 10/01/19 (Call 10/01/15)		USD	100		107,719
iStar Financial Inc.
4.00%, 11/01/17 (Call 08/01/17)		USD	150		147,750
Jaguar Holding Co.
9.50%, 12/01/19 (Call 12/01/14)		USD	100		108,000
JC Penney Corp. Inc.
5.65%, 06/01/20b		USD	75		65,625
Jefferies Finance LLC/JFIN Co-Issuer Corp.
6.88%, 04/15/22 (Call 04/15/17)		USD	200		200,803
Kinder Morgan Finance Co. LLC
6.00%, 01/15/18		USD	100		108,233
Kinder Morgan Inc.
5.00%, 02/15/21 (Call 01/15/21)b		USD	100		101,625
5.63%, 11/15/23 (Call 08/15/23)		USD	100		103,000
Kinetic Concepts Inc./KCI USA Inc.
10.50%, 11/01/18 (Call 11/01/15)		USD	150		166,125
12.50%, 11/01/19 (Call 11/01/15)b		USD	50		56,187
L Brands Inc.
5.63%, 02/15/22		USD	100		105,000
6.63%, 04/01/21		USD	100		111,000
6.90%, 07/15/17		USD	100		112,000
7.00%, 05/01/20		USD	100		113,000
Lamar Media Corp.
5.00%, 05/01/23 (Call 05/01/18)		USD	50		49,412
5.38%, 01/15/24 (Call 01/15/19)		USD	25		25,336
Laredo Petroleum Inc.
5.63%, 01/15/22 (Call 01/15/17)		USD	25		25,438
9.50%, 02/15/19 (Call 02/15/15)		USD	100		107,041
Laureate Education Inc.
9.25%, 09/01/19 (Call 09/01/15)a		USD	150		151,875
Lear Corp.
4.75%, 01/15/23 (Call 01/15/18)		USD	25		24,750
5.38%, 03/15/24 (Call 03/15/19)		USD	25		25,250
Lennar Corp.
4.50%, 06/15/19 (Call 04/16/19)		USD	25		25,000
4.75%, 12/15/17 (Call 09/15/17)		USD	100		104,000
4.75%, 11/15/22 (Call 08/15/22)		USD	50		48,500
Level 3 Escrow II Inc.
5.38%, 08/15/22 (Call 08/15/17)		USD	75		73,594
Level 3 Financing Inc.
6.13%, 01/15/21 (Call 11/15/16)b		USD	100		103,875
8.13%, 07/01/19 (Call 07/01/15)		USD	200		215,000
8.63%, 07/15/20 (Call 01/15/16)		USD	100		109,500
Levi Strauss & Co.
6.88%, 05/01/22 (Call 05/01/17)		USD	100		107,500
LifePoint Hospitals Inc.
5.50%, 12/01/21 (Call 12/01/16)		USD	75		76,875
6.63%, 10/01/20 (Call 10/01/15)		USD	50		53,188
Linn Energy LLC/Linn Energy Finance Corp.
6.25%, 11/01/19 (Call 11/01/15)		USD	200		203,509
7.75%, 02/01/21 (Call 09/15/15)		USD	100		104,828
8.63%, 04/15/20 (Call 04/15/15)		USD	100		105,882

29

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

July 31, 2014

Security	Principal (000s)			Value
MarkWest Energy Partners LP/MarkWest Energy Finance Corp.
4.50%, 07/15/23 (Call 04/15/23)		USD	100	$	98,947
6.75%, 11/01/20 (Call 11/01/15)		USD	150		160,384
Masco Corp.
6.13%, 10/03/16b		USD	150		163,519
McClatchy Co. (The)
9.00%, 12/15/22 (Call 12/15/17)		USD	100		110,000
Memorial Production Partners LP/Memorial Production Finance Corp.
6.88%, 08/01/22 (Call 08/01/17)		USD	75		73,757
MetroPCS Wireless Inc.
6.63%, 11/15/20 (Call 11/15/15)		USD	100		104,750
7.88%, 09/01/18 (Call 09/02/14)		USD	100		104,125
MGM Resorts International
5.25%, 03/31/20		USD	100		101,875
6.63%, 12/15/21b		USD	175		189,173
6.75%, 10/01/20		USD	100		109,271
7.50%, 06/01/16		USD	100		108,203
7.63%, 01/15/17		USD	100		110,447
8.63%, 02/01/19		USD	150		174,864
Michaels Stores Inc.
5.88%, 12/15/20 (Call 12/15/16)		USD	50		49,500
Micron Technology Inc.
5.50%, 02/01/25 (Call 08/01/19)		USD	40		39,700
5.88%, 02/15/22 (Call 02/15/17)		USD	50		52,500
Midstates Petroleum Co. Inc./Midstates Petroleum Co. LLC
9.25%, 06/01/21 (Call 06/01/16)		USD	50		51,991
10.75%, 10/01/20 (Call 10/01/16)		USD	50		53,932
MPH Acquisition Holdings LLC
6.63%, 04/01/22 (Call 04/01/17)		USD	100		101,750
Nationstar Mortgage LLC/Nationstar Capital Corp.
6.50%, 07/01/21 (Call 01/01/17)b		USD	100		97,000
7.88%, 10/01/20 (Call 10/01/16)		USD	100		102,000
Navient LLC
5.50%, 01/15/19		USD	200		207,442
5.50%, 01/25/23b		USD	100		96,599
6.00%, 01/25/17		USD	100		107,215
6.25%, 01/25/16		USD	150		158,387
7.25%, 01/25/22		USD	150		164,937
8.00%, 03/25/20		USD	200		226,300
8.45%, 06/15/18		USD	200		231,836
Navistar International Corp.
8.25%, 11/01/21 (Call 11/01/14)b		USD	100		102,510
NBTY Inc.
9.00%, 10/01/18 (Call 10/01/14)		USD	50		52,375
NCR Corp.
4.63%, 02/15/21 (Call 02/15/17)		USD	50		49,250
5.00%, 07/15/22 (Call 07/15/17)		USD	50		49,375
6.38%, 12/15/23 (Call 12/15/18)b		USD	100		105,500
Neiman Marcus Group Ltd. LLC
8.00%, 10/15/21 (Call 10/15/16)		USD	100		105,500
Newfield Exploration Co.
5.63%, 07/01/24		USD	75		81,255
5.75%, 01/30/22		USD	100		108,985
6.88%, 02/01/20 (Call 02/01/15)		USD	100		104,345
NGPL PipeCo LLC
7.12%, 12/15/17b		USD	100		101,393
9.63%, 06/01/19 (Call 06/01/15)b		USD	100		109,117
Nielsen Finance LLC/Nielsen Finance Co.
4.50%, 10/01/20 (Call 10/01/16)		USD	50		49,547
5.00%, 04/15/22 (Call 04/15/17)b		USD	25		24,828
NII Capital Corp.
7.63%, 04/01/21 (Call 04/01/16)		USD	100		27,500

Security	Principal (000s)			Value
8.88%, 12/15/19 (Call 12/15/14)b		USD	50	$	17,938
10.00%, 08/15/16 (Call 09/02/14)		USD	40		10,900
NRG Energy Inc.
6.25%, 05/01/24 (Call 05/01/19)		USD	175		175,963
6.63%, 03/15/23 (Call 09/15/17)		USD	100		104,003
7.63%, 01/15/18		USD	100		110,921
7.88%, 05/15/21 (Call 05/15/16)b		USD	100		108,682
8.25%, 09/01/20 (Call 09/01/15)		USD	50		53,877
Nuance Communications Inc.
5.38%, 08/15/20 (Call 08/15/16)a		USD	100		101,000
NuStar Logistics LP
4.80%, 09/01/20		USD	50		50,524
Nuveen Investments Inc.
9.13%, 10/15/17 (Call 10/15/14)a		USD	50		53,750
9.50%, 10/15/20 (Call 10/15/16)		USD	50		58,500
Oasis Petroleum Inc.
6.88%, 03/15/22 (Call 09/15/17)		USD	100		108,500
7.25%, 02/01/19 (Call 02/01/15)		USD	100		104,500
Party City Holdings Inc.
Series WI
8.88%, 08/01/20 (Call 08/01/15)		USD	100		107,750
Peabody Energy Corp.
6.00%, 11/15/18b		USD	150		149,440
6.25%, 11/15/21b		USD	100		95,038
6.50%, 09/15/20b		USD	100		95,776
Penn Virginia Corp.
8.50%, 05/01/20 (Call 05/01/17)		USD	50		55,000
Penn Virginia Resource Partners LP/Penn Virginia Resource Finance Corp.
8.38%, 06/01/20 (Call 06/01/16)		USD	49		54,390
Petco Animal Supplies Inc.
9.25%, 12/01/18 (Call 09/02/14)		USD	50		53,000
Pinnacle Entertainment Inc.
6.38%, 08/01/21 (Call 08/01/16)		USD	115		118,952
7.50%, 04/15/21 (Call 04/15/15)b		USD	100		105,500
Post Holdings Inc.
6.75%, 12/01/21 (Call 12/01/17)		USD	100		104,125
7.38%, 02/15/22 (Call 02/15/17)		USD	150		159,937
QEP Resources Inc.
5.38%, 10/01/22 (Call 07/01/22)		USD	100		100,695
6.88%, 03/01/21		USD	50		55,449
QVC Inc.
3.13%, 04/01/19		USD	50		50,528
4.85%, 04/01/24		USD	75		77,705
5.13%, 07/02/22		USD	100		106,011
7.50%, 10/01/19 (Call 10/01/14)		USD	100		104,375
Range Resources Corp.
5.00%, 08/15/22 (Call 02/15/17)		USD	100		102,877
5.75%, 06/01/21 (Call 06/01/16)		USD	100		106,500
Realogy Group LLC
7.88%, 02/15/19 (Call 02/15/15)		USD	100		105,125
Regal Entertainment Group
5.75%, 03/15/22 (Call 03/15/17)		USD	100		100,625
Regency Energy Partners LP/Regency Energy Finance Corp.
5.00%, 10/01/22 (Call 07/01/22)		USD	25		24,688
5.50%, 04/15/23 (Call 10/15/17)		USD	50		51,313
5.88%, 03/01/22 (Call 12/01/21)		USD	150		159,000
6.50%, 07/15/21 (Call 07/15/16)		USD	100		105,500
6.88%, 12/01/18 (Call 12/01/14)		USD	100		103,750
Reynolds Group Issuer Inc./Reynolds Group Issuer LLC
5.75%, 10/15/20 (Call 10/15/15)		USD	300		306,750
6.88%, 02/15/21 (Call 02/15/16)		USD	100		106,250
7.13%, 04/15/19 (Call 10/15/14)		USD	200		207,500

30

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

July 31, 2014

Security	Principal (000s)			Value
7.88%, 08/15/19 (Call 08/15/15)		USD	200	$	212,750
8.25%, 02/15/21 (Call 02/15/16)		USD	100		106,000
9.00%, 04/15/19 (Call 10/15/14)		USD	100		104,875
9.88%, 08/15/19 (Call 08/15/15)		USD	250		269,687
Rite Aid Corp.
6.75%, 06/15/21 (Call 06/15/16)		USD	100		103,734
9.25%, 03/15/20 (Call 03/15/16)		USD	50		56,101
RJS Power Holdings LLC
5.13%, 07/15/19 (Call 07/15/16)		USD	75		74,250
Rockies Express Pipeline LLC
5.63%, 04/15/20		USD	75		77,040
6.00%, 01/15/19		USD	50		52,000
6.85%, 07/15/18		USD	50		53,428
Rockwood Specialties Group Inc.
4.63%, 10/15/20 (Call 10/15/15)		USD	100		103,750
Rosetta Resources Inc.
5.63%, 05/01/21 (Call 05/01/17)		USD	50		50,336
5.88%, 06/01/22 (Call 12/01/17)		USD	90		91,268
5.88%, 06/01/24 (Call 06/01/19)		USD	25		25,350
RR Donnelley & Sons Co.
6.00%, 04/01/24		USD	50		49,500
7.88%, 03/15/21b		USD	50		56,500
Sabine Pass Liquefaction LLC
5.63%, 02/01/21 (Call 11/01/20)		USD	200		207,500
5.63%, 04/15/23		USD	100		101,699
5.75%, 05/15/24		USD	300		305,185
6.25%, 03/15/22		USD	100		105,531
Sabine Pass LNG LP
7.50%, 11/30/16		USD	100		108,657
Sally Holdings LLC/Sally Capital Inc.
6.88%, 11/15/19 (Call 11/15/15)		USD	150		161,062
Samson Investment Co.
10.75%, 02/15/20 (Call 02/15/16)		USD	200		203,500
Sanchez Energy Corp.
6.13%, 01/15/23 (Call 07/15/18)		USD	150		150,780
SandRidge Energy Inc.
7.50%, 03/15/21 (Call 03/15/16)		USD	100		104,500
7.50%, 02/15/23 (Call 08/15/17)		USD	50		52,500
8.13%, 10/15/22 (Call 04/15/17)b		USD	100		106,855
SBA Communications Corp.
4.88%, 07/15/22 (Call 07/15/17)		USD	25		24,000
5.63%, 10/01/19 (Call 10/01/16)b		USD	50		52,000
SBA Telecommunications Inc.
5.75%, 07/15/20 (Call 07/15/16)		USD	50		52,000
Sealed Air Corp.
8.13%, 09/15/19 (Call 09/15/15)		USD	100		109,250
8.38%, 09/15/21 (Call 09/15/16)		USD	100		112,000
Sears Holdings Corp.
6.63%, 10/15/18b		USD	100		90,625
Service Corp. International
5.38%, 01/15/22 (Call 07/15/17)		USD	50		50,805
5.38%, 05/15/24 (Call 05/15/19)		USD	50		50,690
ServiceMaster Co. (The)
7.00%, 08/15/20 (Call 08/15/15)		USD	50		51,375
8.00%, 02/15/20 (Call 02/15/15)		USD	33		34,898
SESI LLC
6.38%, 05/01/19 (Call 05/01/15)		USD	100		104,946
Seventy Seven Energy Inc.
6.50%, 07/15/22 (Call 07/15/17)		USD	50		50,106
Sinclair Television Group Inc.
6.13%, 10/01/22 (Call 10/01/17)b		USD	100		102,814
Sirius XM Radio Inc.

Security	Principal (000s)			Value
4.63%, 05/15/23 (Call 05/15/18)		USD	100	$	93,500
5.75%, 08/01/21 (Call 08/01/16)b		USD	100		103,000
6.00%, 07/15/24 (Call 07/15/19)		USD	150		151,500
SM Energy Co.
5.00%, 01/15/24 (Call 07/15/18)		USD	100		99,250
Smithfield Foods Inc.
5.25%, 08/01/18 (Call 08/01/15)		USD	25		25,750
5.88%, 08/01/21 (Call 08/01/16)		USD	50		52,500
6.63%, 08/15/22 (Call 08/15/17)		USD	100		109,000
Spectrum Brands Inc.
6.38%, 11/15/20 (Call 11/15/16)		USD	100		105,750
Springleaf Finance Corp.
Series I
5.40%, 12/01/15b		USD	50		51,813
6.90%, 12/15/17		USD	250		271,250
7.75%, 10/01/21		USD	100		112,500
Sprint Communications Inc.
6.00%, 12/01/16		USD	150		162,750
6.00%, 11/15/22b		USD	200		195,000
7.00%, 03/01/20		USD	100		112,250
7.00%, 08/15/20		USD	50		52,875
8.38%, 08/15/17b		USD	150		170,625
9.00%, 11/15/18		USD	250		293,125
9.13%, 03/01/17		USD	150		171,000
11.50%, 11/15/21		USD	100		132,000
Sprint Corp.
7.13%, 06/15/24		USD	200		203,500
7.25%, 09/15/21		USD	350		370,125
7.88%, 09/15/23a		USD	400		430,000
Standard Pacific Corp.
8.38%, 05/15/18		USD	100		115,625
Steel Dynamics Inc.
5.25%, 04/15/23 (Call 04/15/18)		USD	75		75,418
Suburban Propane Partners LP/Suburban Energy Finance Corp.
5.50%, 06/01/24 (Call 06/01/19)		USD	25		24,750
SunGard Data Systems Inc.
6.63%, 11/01/19 (Call 11/01/15)		USD	50		51,250
7.38%, 11/15/18 (Call 09/02/14)		USD	100		104,000
7.63%, 11/15/20 (Call 11/15/15)		USD	100		105,750
SUPERVALU Inc.
6.75%, 06/01/21 (Call 06/01/17)b		USD	50		50,875
8.00%, 05/01/16		USD	50		54,500
T-Mobile USA Inc.
6.25%, 04/01/21 (Call 04/01/17)		USD	100		104,000
6.46%, 04/28/19 (Call 04/28/15)		USD	150		156,375
6.54%, 04/28/20 (Call 04/28/16)		USD	200		209,250
6.63%, 04/28/21 (Call 04/28/17)		USD	200		210,000
6.63%, 04/01/23 (Call 04/01/18)		USD	200		210,250
6.73%, 04/28/22 (Call 04/28/17)		USD	150		158,250
6.84%, 04/28/23 (Call 04/28/18)		USD	50		53,000
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
4.25%, 11/15/23 (Call 05/15/18)		USD	50		48,620
6.88%, 02/01/21 (Call 02/01/16)		USD	100		106,174
Taylor Morrison Communities Inc./Monarch Communities Inc.
5.25%, 04/15/21 (Call 04/15/16)		USD	200		198,000
Tenet Healthcare Corp.
4.50%, 04/01/21		USD	200		195,750
5.00%, 03/01/19		USD	25		24,688
6.00%, 10/01/20		USD	150		157,125
6.25%, 11/01/18		USD	100		108,375
8.00%, 08/01/20 (Call 08/01/15)		USD	50		53,500
8.13%, 04/01/22		USD	300		336,000

31

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

July 31, 2014

Security	Principal (000s)			Value
Terex Corp.
6.00%, 05/15/21 (Call 11/15/16)		USD	100	$	105,750
Tesoro Corp.
5.38%, 10/01/22 (Call 10/01/17)		USD	50		50,561
Tesoro Logistics LP/Tesoro Logistics Finance Corp.
6.13%, 10/15/21 (Call 10/15/16)b		USD	50		52,243
Toll Brothers Finance Corp.
5.88%, 02/15/22 (Call 11/15/21)		USD	100		108,000
Toys R Us Inc.
10.38%, 08/15/17 (Call 02/15/15)		USD	25		21,250
Toys R Us Property Co. II LLC
8.50%, 12/01/17 (Call 09/02/14)b		USD	50		50,750
TransDigm Inc.
6.00%, 07/15/22 (Call 07/15/17)		USD	150		152,250
6.50%, 07/15/24 (Call 07/15/19)		USD	125		128,437
7.50%, 07/15/21 (Call 07/15/16)		USD	100		109,750
tw telecom holdings Inc.
5.38%, 10/01/22 (Call 10/01/17)		USD	100		108,250
United Rentals (North America) Inc.
5.75%, 11/15/24 (Call 05/15/19)		USD	75		75,905
6.13%, 06/15/23 (Call 12/15/17)		USD	75		77,664
7.38%, 05/15/20 (Call 05/15/16)		USD	150		160,984
7.63%, 04/15/22 (Call 04/15/17)b		USD	100		109,941
8.38%, 09/15/20 (Call 09/15/15)		USD	100		107,594
United States Steel Corp.
7.38%, 04/01/20b		USD	100		109,481
7.50%, 03/15/22 (Call 03/15/17)		USD	100		107,750
Univision Communications Inc.
5.13%, 05/15/23 (Call 05/15/18)		USD	100		103,278
6.75%, 09/15/22 (Call 09/15/17)		USD	90		96,975
6.88%, 05/15/19 (Call 05/15/15)		USD	150		157,650
8.50%, 05/15/21 (Call 11/15/15)b		USD	50		54,000
US Airways Group Inc.
6.13%, 06/01/18		USD	50		52,344
US Foods Inc.
8.50%, 06/30/19 (Call 09/02/14)		USD	100		106,600
USG Corp.
6.30%, 11/15/16		USD	100		106,625
Valeant Pharmaceuticals International Inc.
6.38%, 10/15/20 (Call 10/15/16)		USD	200		206,500
6.75%, 08/15/21 (Call 02/15/16)		USD	100		104,750
6.88%, 12/01/18 (Call 12/01/14)		USD	200		207,500
7.00%, 10/01/20 (Call 10/01/15)		USD	100		105,000
7.25%, 07/15/22 (Call 07/15/16)		USD	50		53,313
Verso Paper Holdings LLC/Verso Paper Inc.
11.75%, 01/15/19 (Call 01/15/15)b		USD	30		31,950
Voya Financial Inc.
5.65%, 05/15/53 (Call 05/15/23)b,d		USD	50		50,688
Vulcan Materials Co.
7.50%, 06/15/21		USD	100		117,250
VWR Funding Inc.
7.25%, 09/15/17 (Call 09/15/14)		USD	50		52,375
Walter Energy Inc.
8.50%, 04/15/21 (Call 04/15/17)b		USD	25		12,034
9.50%, 10/15/19 (Call 10/15/16)b		USD	50		49,683
9.88%, 12/15/20 (Call 12/15/16)b		USD	50		25,750
Weyerhaeuser Real Estate Co.
5.88%, 06/15/24a		USD	50		50,625
Whiting Petroleum Corp.
5.00%, 03/15/19 (Call 12/15/18)		USD	100		105,250
5.75%, 03/15/21 (Call 12/15/20)		USD	150		165,000

Security	Principal or Shares (000s)		Value
WideOpenWest Finance LLC/WideOpenWest Capital Corp.
10.25%, 07/15/19 (Call 07/15/15)b	USD	75	$	83,344
Windstream Corp.
7.50%, 06/01/22 (Call 06/01/17)b	USD	100		106,500
7.50%, 04/01/23 (Call 04/01/16)	USD	100		105,250
7.75%, 10/15/20 (Call 10/15/15)	USD	200		212,500
7.88%, 11/01/17	USD	100		114,000
WMG Acquisition Corp.
6.75%, 04/15/22 (Call 04/15/17)	USD	50		48,875
WPX Energy Inc.
6.00%, 01/15/22 (Call 10/15/21)	USD	100		104,943
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.
5.38%, 03/15/22 (Call 03/15/17)	USD	100		102,125
7.75%, 08/15/20 (Call 08/15/15)	USD	100		107,847
Zayo Group LLC/Zayo Capital Inc.
10.13%, 07/01/20 (Call 07/01/16)b	USD	100		113,750
				60,334,167
TOTAL CORPORATE BONDS & NOTES
(Cost: $100,880,372)				102,372,361
SHORT-TERM INVESTMENTS — 10.82%
MONEY MARKET FUNDS — 10.82%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.14%f,g,h		9,382		9,381,508
BlackRock Cash Funds: Prime, SL Agency Shares
0.12%f,g,h		978		978,357
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%f,g		1,184		1,183,529
				11,543,394
TOTAL SHORT-TERM INVESTMENTS
(Cost: $11,543,394)				11,543,394
TOTAL INVESTMENTS IN SECURITIES — 106.77%
(Cost: $112,423,766)				113,915,755
Other Assets, Less Liabilities — (6.77)%				(7,217,109	)
NET ASSETS — 100.00%			$	106,698,646

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  All or a portion of this security represents a security on loan. See Note 1.

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

^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 1.

See accompanying notes to schedules of investments.

32

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 ETF

Emerging Markets Corporate Bond

Emerging Markets High Yield Bond

Emerging Markets Local Currency Bond

Global ex USD High Yield Corporate Bond

Global High Yield Corporate Bond

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 and, for financial reporting purposes, as of the report date should the reporting date end on a day that the Fund’s listing exchange is not open. Accounting principles generally accepted in the United States of America (“U.S. GAAP”) define 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 default rates. Valuations based on such factors are reported to the Board on a quarterly basis.

33

Notes to Schedules of Investments  (Unaudited) (Continued)

iSHARES^®, INC.

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, reviews of 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 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 is not necessarily an indication of the risk associated with investing in the 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 Global Valuation Committee’s 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 July 31, 2014. The breakdown of each Fund’s investments into major categories is disclosed in its respective schedule of investments.

34

Notes to Schedules of Investments  (Unaudited) (Continued)

iSHARES^®, INC.

iShares ETF and Investment Type	Investments
	Level 1		Level 2		Level 3		Total
Emerging Markets Corporate Bond
Assets:
Corporate Bonds & Notes	$	—	$	19,378,083	$	—	$	19,378,083
Foreign Government Obligations		—		714,756		—		714,756
Money Market Funds		761,367		—		—		761,367
	$	761,367	$	20,092,839	$	—	$	20,854,206
Emerging Markets High Yield Bond
Assets:
Corporate Bonds & Notes	$	—	$	85,102,875	$	—	$	85,102,875
Foreign Government Obligations		—		114,945,216		—		114,945,216
Money Market Funds		1,419,852		—		—		1,419,852
	$	1,419,852	$	200,048,091	$	—	$	201,467,943
Emerging Markets Local Currency Bond
Assets:
Foreign Government Obligations	$	—	$	603,595,531	$	—	$	603,595,531
Money Market Funds		42,105		—		—		42,105
	$	42,105	$	603,595,531	$	—	$	603,637,636
Global ex USD High Yield Corporate Bond
Assets:
Corporate Bonds & Notes	$	—	$	188,155,542	$	0a	$	188,155,542
Money Market Funds		6,951		—		—		6,951
	$	6,951	$	188,155,542	$	0a	$	188,162,493
Global High Yield Corporate Bond
Assets:
Corporate Bonds & Notes	$	—	$	102,372,361	$	—	$	102,372,361
Money Market Funds		11,543,394		—		—		11,543,394
	$	11,543,394	$	102,372,361	$	—	$	113,915,755

^a  Rounds to less than $1.

35

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.

36

Notes to Schedules of Investments  (Unaudited) (Continued)

iSHARES^®, INC.

FEDERAL INCOME TAXES

As of July 31, 2014, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows:

iShares ETF	Tax Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Net Unrealized Appreciation (Depreciation)
Emerging Markets Corporate Bond	$	20,996,339	$	333,994	$	(476,127	)	$	(142,133	)
Emerging Markets High Yield Bond		201,510,614		5,744,493		(5,787,164	)		(42,671	)
Emerging Markets Local Currency Bond		619,280,371		17,593,090		(33,235,825	)		(15,642,735	)
Global ex USD High Yield Corporate Bond		188,227,590		2,791,959		(2,857,056	)		(65,097	)
Global High Yield Corporate Bond		112,423,766		2,838,057		(1,346,068	)		1,491,989

37

Notes to Schedules of Investments  (Unaudited) (Continued)

iSHARES^®, INC.

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. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.

Any cash received as collateral for securities on loan 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 BlackRock Fund Advisors (“BFA”), the Funds’ investment adviser, or its affiliates. As of July 31, 2014, any securities on loan were collateralized by cash. The cash collateral received was invested in money market funds managed by BFA and is disclosed in the schedules of investments.

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, Inc. (“BlackRock”). BlackRock’s indemnity allows for full replacement of securities lent. Each Fund could suffer a loss if the value of the investments purchased with cash collateral falls below the value of the cash collateral received.

2. TRANSACTIONS WITH AFFILIATES

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

38

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/ Manish Mehta

Manish Mehta, President (Principal Executive Officer)

Date: September 24, 2014

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/ Manish Mehta

Manish Mehta, President (Principal Executive Officer)

Date: September 24, 2014

By: /s/ Jack Gee

Jack Gee, Treasurer and Chief Financial Officer (Principal Financial Officer)

Date: September 24, 2014

EX-99.CERT

Form N-Q Exhibit for Item 3(a) EX-99.CERT

I, Manish Mehta, 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 ETF, iShares Emerging Markets High Yield Bond ETF, iShares Emerging Markets Local Currency Bond ETF, iShares Global ex USD High Yield Corporate Bond ETF and iShares Global High Yield Corporate Bond ETF;

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 Registrant’s 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:	September 24, 2014	/s/ Manish Mehta	President (Principal Executive Officer)
		Manish Mehta [Signature]	[Title]

Form N-Q Exhibit for Item 3(a) EX-99.CERT

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 ETF, iShares Emerging Markets High Yield Bond ETF, iShares Emerging Markets Local Currency Bond ETF, iShares Global ex USD High Yield Corporate Bond ETF and iShares Global High Yield Corporate Bond ETF;

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 Registrant’s 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:	September 24, 2014	/s/ Jack Gee	Treasurer and Chief Financial Officer (Principal Financial Officer)
		Jack Gee [Signature]	[Title]