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, 2015

Date of reporting period: January 31, 2015

Item 1. Schedules of Investments.

Schedule of Investments  (Unaudited)

iSHARES^® EMERGING MARKETS CORPORATE BOND ETF

January 31, 2015

Security	Principal (000s)		Value
CORPORATE BONDS & NOTESa — 93.96%
ARGENTINA — 0.25%
YPF SA
8.75%, 04/04/24b	$	40	$	40,300
8.88%, 12/19/18b		20		20,500
				60,800
AUSTRIA — 0.81%
JBS Investments GmbH
7.25%, 04/03/24 (Call 04/03/19)b		200		198,600
				198,600
BERMUDA — 2.57%
Digicel Ltd.
6.00%, 04/15/21 (Call 04/15/16)b		200		187,500
Li & Fung Ltd.
5.25%, 05/13/20b		100		109,625
Noble Group Ltd.
6.75%, 01/29/20b		100		108,000
Ooredoo International Finance Ltd.
5.00%, 10/19/25b		200		223,750
				628,875
BRAZIL — 5.94%
Banco Bradesco SA/Cayman Islands
5.90%, 01/16/21b		100		107,000
Banco BTG Pactual SA/Cayman Islands
4.00%, 01/16/20b		200		183,500
Banco do Brasil SA
5.88%, 01/19/23b		200		201,750
Banco Votorantim SA
7.38%, 01/21/20b		100		106,200
BRF SA
5.88%, 06/06/22b		200		215,546
Caixa Economica Federal
2.38%, 11/06/17b		150		144,750
Centrais Eletricas Brasileiras SA
6.88%, 07/30/19b		100		99,260
Itau Unibanco Holding SA/Cayman Island
5.13%, 05/13/23b		200		197,190
6.20%, 04/15/20b		100		107,116
Telemar Norte Leste SA
5.50%, 10/23/20b		100		89,250
				1,451,562
BRITISH VIRGIN ISLANDS — 4.97%
CNOOC Finance 2012 Ltd.
5.00%, 05/02/42b		200		227,548
Gerdau Trade Inc.
5.75%, 01/30/21b		100		102,150

Security	Principal (000s)		Value
GTL Trade Finance Inc.
5.89%, 04/29/24 (Call 01/29/24)b	$	150	$	147,000
Sinochem Overseas Capital Co. Ltd.
4.50%, 11/12/20b		100		106,336
Sinopec Capital 2013 Ltd.
3.13%, 04/24/23b		200		196,765
Sinopec Group Overseas Development 2013 Ltd.
4.38%, 10/17/23b		200		216,778
State Grid Overseas Investment 2014 Ltd.
4.13%, 05/07/24b		200		218,410
				1,214,987
CANADA — 0.22%
Pacific Rubiales Energy Corp.
5.13%, 03/28/23 (Call 03/28/18)b		100		54,400
				54,400
CAYMAN ISLANDS — 13.56%
ADCB Finance (Cayman) Ltd.
2.50%, 03/06/18b		200		201,500
Agile Property Holdings Ltd.
8.88%, 04/28/17 (Call 03/02/15)b		100		98,500
Alibaba Group Holding Ltd.
3.13%, 11/28/21 (Call 09/28/21)b		200		202,434
Baidu Inc.
2.25%, 11/28/17		200		200,496
Braskem Finance Ltd.
5.38%, 05/02/22b		200		192,000
Country Garden Holdings Co. Ltd.
11.13%, 02/23/18 (Call 03/02/15)b		200		210,750
Hutchison Whampoa International Ltd.
4.63%, 01/13/22b		200		221,289
5.75%, 09/11/19b		100		115,032
7.63%, 04/09/19b		100		121,255
Marfrig Overseas Ltd.
9.50%, 05/04/20 (Call 05/04/15)b		100		93,375
Odebrecht Drilling Norbe VIII/IX Ltd.
6.35%, 06/30/21 (Call 06/30/20)b		172		136,931
Petrobras International Finance Co. SA
3.50%, 02/06/17		75		69,844
5.38%, 01/27/21		200		179,688
5.75%, 01/20/20		100		92,739
6.88%, 01/20/40		75		63,000
7.88%, 03/15/19		100		99,282
QNB Finance Ltd.
2.13%, 02/14/18b		200		200,500
Shimao Property Holdings Ltd.
6.63%, 01/14/20 (Call 01/14/17)b		200		195,000
Swire Pacific MTN Financing Ltd.
5.50%, 08/19/19b		100		113,039
Vale Overseas Ltd.
4.38%, 01/11/22c		50		47,539
4.63%, 09/15/20c		75		74,559
5.63%, 09/15/19c		75		79,487
6.25%, 01/23/17		50		53,181
6.88%, 11/21/36		100		98,106
6.88%, 11/10/39		100		98,190
8.25%, 01/17/34		50		55,479
				3,313,195

1

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS CORPORATE BOND ETF

January 31, 2015

Security	Principal (000s)		Value
CHILE — 2.64%
Banco del Estado de Chile
4.13%, 10/07/20b	$	150	$	158,707
Celulosa Arauco y Constitucion SA
4.75%, 01/11/22 (Call 10/11/21)		37		38,446
Cencosud SA
5.50%, 01/20/21b		150		157,353
Corp. Nacional del Cobre de Chile
4.25%, 07/17/42b		200		187,793
Empresa Nacional del Petroleo
4.75%, 12/06/21b		100		103,843
				646,142
CHINA — 0.60%
Kaisa Group Holdings Ltd.
8.88%, 03/19/18 (Call 03/19/16)b,d		200		147,000
				147,000
COLOMBIA — 2.12%
Bancolombia SA
5.13%, 09/11/22		50		50,280
6.13%, 07/26/20c		147		157,319
Ecopetrol SA
5.88%, 09/18/23		100		106,000
5.88%, 05/28/45		50		48,000
7.38%, 09/18/43		50		55,375
7.63%, 07/23/19		87		101,355
				518,329
HONG KONG — 1.37%
Bank of China Hong Kong Ltd.
5.55%, 02/11/20b		200		219,320
CITIC Ltd.
6.63%, 04/15/21b		100		115,757
				335,077
INDIA — 2.60%
Axis Bank Ltd./Dubai
4.75%, 05/02/16b		100		103,674
Bharti Airtel International Netherlands BV
5.13%, 03/11/23b		200		220,920
ICICI Bank Ltd.
6.38%, 04/30/22 (Call 04/30/17)b, e		100		103,500
State Bank of India/London
3.62%, 04/17/19b		200		207,747
				635,841
INDONESIA — 1.62%
Pertamina Persero PT
4.30%, 05/20/23b		200		198,500
5.63%, 05/20/43b		200		197,500
				396,000

Security	Principal (000s)		Value
IRELAND — 2.12%
AK Transneft OJSC Via TransCapitalInvest Ltd.
8.70%, 08/07/18b	$	100	$	100,500
Alfa Bank OJSC Via Alfa Bond Issuance PLC
7.88%, 09/25/17b		100		94,956
Metalloinvest Finance Ltd.
5.63%, 04/17/20b		200		151,424
Mobile Telesystems OJSC via MTS International Funding Ltd.
8.63%, 06/22/20b		100		96,166
Vnesheconombank Via VEB Finance PLC
6.90%, 07/09/20b		100		74,723
				517,769
ISLE OF MAN — 0.20%
AngloGold Ashanti Holdings PLC
5.13%, 08/01/22		50		47,479
				47,479
ISRAEL — 0.94%
Israel Electric Corp. Ltd.
6.88%, 06/21/23b		200		228,684
				228,684
KAZAKHSTAN — 1.38%
Kazkommertsbank JSC
5.50%, 12/21/22b		100		60,020
KazMunayGas National Co. JSC
4.40%, 04/30/23b		200		175,012
7.00%, 05/05/20b		100		102,150
				337,182
LUXEMBOURG — 5.01%
CSN Resources SA
6.50%, 07/21/20b		100		91,250
Evraz Group SA
9.50%, 04/24/18b		100		87,000
Gazprom OAO Via Gaz Capital SA
7.29%, 08/16/37b		100		85,530
8.15%, 04/11/18b		100		96,500
9.25%, 04/23/19b		100		97,600
Petrobras International Finance Co. SA
5.88%, 03/01/18		100		96,099
6.75%, 01/27/41		75		62,281
Rosneft Finance SA
7.25%, 02/02/20b		100		86,534
Russian Agricultural Bank OJSC Via RSHB Capital SA
6.30%, 05/15/17b		100		88,522
Sberbank of Russia Via SB Capital SA
6.13%, 02/07/22b		200		167,000
Severstal OAO Via Steel Capital SA
6.70%, 10/25/17b		100		93,350
VTB Bank OJSC Via VTB Capital SA
6.25%, 06/30/35b		100		98,000
6.55%, 10/13/20b		100		75,710
				1,225,376

2

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS CORPORATE BOND ETF

January 31, 2015

Security	Principal (000s)		Value
MALAYSIA — 1.00%
Penerbangan Malaysia Bhd
5.63%, 03/15/16b	$	100	$	104,557
Petroliam Nasional Bhd
7.63%, 10/15/26b		100		140,202
				244,759
MEXICO — 10.94%
America Movil SAB de CV
5.00%, 10/16/19		125		140,015
5.00%, 03/30/20		100		111,825
6.13%, 03/30/40		100		125,494
6.38%, 03/01/35		100		128,486
Banco Santander Mexico SA
4.13%, 11/09/22b		150		151,687
BBVA Bancomer SA/Texas
6.75%, 09/30/22b		150		169,557
7.25%, 04/22/20b		100		112,490
Coca-Cola FEMSA SAB de CV
3.88%, 11/26/23		150		162,697
Comision Federal de Electricidad
4.88%, 01/15/24b		200		211,600
Empresas ICA SAB de CV
8.90%, 02/04/21 (Call 02/04/16)b		100		71,900
Grupo Bimbo SAB de CV
4.50%, 01/25/22b		100		107,417
Grupo Televisa SAB
6.63%, 01/15/40		56		71,626
Petroleos Mexicanos
3.50%, 01/30/23		75		70,984
4.88%, 01/24/22		75		78,225
4.88%, 01/18/24		100		103,990
5.50%, 01/21/21		150		162,075
5.50%, 06/27/44		75		75,375
5.75%, 03/01/18		100		108,150
6.38%, 01/23/45		150		167,085
6.50%, 06/02/41		115		128,674
6.63%, 06/15/35		100		114,730
6.63%, 06/15/38		25		27,975
8.00%, 05/03/19		60		71,250
				2,673,307
MOROCCO — 0.89%
OCP SA
5.63%, 04/25/24b		200		218,024
				218,024
NETHERLANDS — 5.96%
Kazakhstan Temir Zholy Finance BV
6.38%, 10/06/20b		200		192,750
LUKOIL International Finance BV
6.66%, 06/07/22b		120		105,000
7.25%, 11/05/19b		100		92,956
Majapahit Holding BV
7.75%, 01/20/20b		120		140,700
7.88%, 06/29/37b		100		124,625
Petrobras Global Finance BV

Security	Principal (000s)		Value
3.00%, 01/15/19	$	50	$	42,690
3.25%, 03/17/17		200		184,508
4.38%, 05/20/23		100		82,340
5.63%, 05/20/43		100		78,000
6.25%, 03/17/24c		50		45,166
VimpelCom Holdings BV
7.50%, 03/01/22b		200		166,216
VTR Finance BV
6.88%, 01/15/24 (Call 01/15/19)b		200		200,510
				1,455,461
PERU — 0.88%
Banco de Credito del Peru/Panama
5.38%, 09/16/20b		100		109,750
BBVA Banco Continental SA
5.00%, 08/26/22b		100		106,250
				216,000
PHILIPPINES — 0.55%
Power Sector Assets & Liabilities Management Corp.
7.39%, 12/02/24b		100		133,375
				133,375
QATAR — 0.46%
Qatari Diar Finance QSC
5.00%, 07/21/20b		100		113,250
				113,250
RUSSIA — 0.97%
Gazprom OAO Via Gaz Capital SA
4.38%, 09/19/22b		200		141,600
6.21%, 11/22/16b		100		96,500
				238,100
SINGAPORE — 3.82%
ABJA Investment Co. Pte Ltd.
4.85%, 01/31/20b		200		205,000
DBS Bank Ltd.
3.63%, 09/21/22 (Call 09/21/17)b,e		200		206,940
Flextronics International Ltd.
4.63%, 02/15/20		100		103,750
Oversea-Chinese Banking Corp. Ltd.
3.75%, 11/15/22 (Call 11/15/17)b,e		100		103,594
PSA International Pte Ltd.
3.88%, 02/11/21b		100		107,883
United Overseas Bank Ltd.
3.75%, 09/19/24 (Call 09/19/19)b,e		200		207,180
				934,347
SOUTH AFRICA — 0.82%
Eskom Holdings Ltd.
5.75%, 01/26/21b		200		199,500
				199,500

3

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS CORPORATE BOND ETF

January 31, 2015

Security	Principal (000s)		Value
SOUTH KOREA — 4.73%
Hana Bank
4.00%, 11/03/16b	$	200	$	208,770
Korea Development Bank (The)
3.25%, 03/09/16		100		102,394
3.25%, 09/20/16		100		103,156
3.88%, 05/04/17		200		210,020
Korea Gas Corp.
4.25%, 11/02/20b		100		110,382
Korea Hydro & Nuclear Power Co. Ltd.
3.00%, 09/19/22b		200		205,065
POSCO
4.25%, 10/28/20b		100		108,381
Woori Bank Co. Ltd.
6.21%, 05/02/37 (Call 05/02/17)b,e		100		106,980
				1,155,148
THAILAND — 2.18%
Bangkok Bank PCL/Hong Kong
4.80%, 10/18/20b		100		110,146
PTT PCL
3.38%, 10/25/22b		200		198,030
PTTEP Canada International Finance Ltd.
5.69%, 04/05/21b		200		225,555
				533,731
TURKEY — 3.14%
Akbank TAS
6.50%, 03/09/18b		150		163,113
Turkiye Garanti Bankasi AS
5.25%, 09/13/22b		200		208,082
Turkiye Is Bankasi
3.88%, 11/07/17b		200		201,629
Yapi ve Kredi Bankasi AS
4.00%, 01/22/20b		200		194,250
				767,074
UNITED ARAB EMIRATES — 2.50%
Abu Dhabi National Energy Co.
5.88%, 10/27/16b		100		107,375
6.50%, 10/27/36b		100		128,125
Dolphin Energy Ltd.
5.89%, 06/15/19b		125		137,177
DP World Ltd.
6.85%, 07/02/37b		100		116,524
Dubai Electricity & Water Authority
7.38%, 10/21/20b		100		122,404
				611,605
UNITED KINGDOM — 1.26%
Standard Bank PLC
8.13%, 12/02/19b		100		108,570
Vedanta Resources PLC
9.50%, 07/18/18b		200		198,000
				306,570

Security	Principal (000s)		Value
UNITED STATES — 3.10%
Cemex Finance LLC
9.38%, 10/12/22 (Call 10/12/17)b	$	200	$	220,190
Hyundai Capital America
2.13%, 10/02/17b		50		50,368
2.55%, 02/06/19b		100		101,310
Reliance Holdings USA Inc.
5.40%, 02/14/22b		250		273,827
Southern Copper Corp.
7.50%, 07/27/35		100		112,628
				758,323
VENEZUELA — 1.84%
Petroleos de Venezuela SA
Series 2016
5.13%, 10/28/16		55		26,950
5.25%, 04/12/17b		100		37,043
5.38%, 04/12/27b		100		30,190
5.50%, 04/12/37b		50		14,798
6.00%, 05/16/24b		150		47,250
6.00%, 11/15/26b		175		53,388
8.50%, 11/02/17b		195		111,442
9.00%, 11/17/21b		75		26,357
9.75%, 05/17/35b		130		46,306
12.75%, 02/17/22b		135		56,889
				450,613
TOTAL CORPORATE BONDS & NOTES
(Cost: $24,411,411)				22,966,485
FOREIGN GOVERNMENT OBLIGATIONSa — 3.80%
BRAZIL — 0.86%
Banco Nacional de Desenvolvimento Economico e Social
5.50%, 07/12/20b		100		104,220
6.50%, 06/10/19b		100		106,595
				210,815
CAYMAN ISLANDS — 1.16%
International Petroleum Investment Co.
5.00%, 11/15/20b		250		282,500
				282,500
SOUTH KOREA — 1.78%
Export-Import Bank of Korea
4.00%, 01/11/17		200		210,203
4.38%, 09/15/21		200		225,829
				436,032
TOTAL FOREIGN GOVERNMENT OBLIGATIONS
(Cost: $908,484)				929,347

4

Schedule of Investments  (Unaudited)(Continued)

iSHARES^® EMERGING MARKETS CORPORATE BOND ETF

January 31, 2015

Security	Shares (000s)		Value
SHORT-TERM INVESTMENTS — 3.17%
MONEY MARKET FUNDS — 3.17%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.15%f,g,h		389	$	389,232
BlackRock Cash Funds: Prime, SL Agency Shares
0.14%f,g,h		31		31,483
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%f,g		353		353,201
				773,916
TOTAL SHORT-TERM INVESTMENTS
(Cost: $773,916)				773,916
TOTAL INVESTMENTS IN SECURITIES — 100.93%
(Cost: $26,093,811)				24,669,748
Other Assets, Less Liabilities — (0.93)%				(226,644	)
NET ASSETS — 100.00%			$	24,443,104

^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  Issuer is in default of interest payments.

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

^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.

5

Schedule of Investments  (Unaudited)

iSHARES^® EMERGING MARKETS HIGH YIELD BOND ETF

January 31, 2015

Security	Principal (000s)		Value
CORPORATE BONDS & NOTESa — 41.27%
ARGENTINA — 0.47%
YPF SA
8.75%, 04/04/24b	$	500	$	503,750
8.88%, 12/19/18b		300		307,500
				811,250
AUSTRIA — 0.58%
JBS Investments GmbH
7.25%, 04/03/24 (Call 04/03/19)b		400		397,200
7.75%, 10/28/20 (Call 10/28/17)b		600		617,820
				1,015,020
BARBADOS — 0.36%
Columbus International Inc.
7.38%, 03/30/21 (Call 03/30/18)b		600		617,250
				617,250
BERMUDA — 1.33%
Digicel Group Ltd.
7.13%, 04/01/22 (Call 04/01/17)b		400		362,380
8.25%, 09/30/20 (Call 09/30/16)b		1,100		1,070,300
Digicel Ltd.
6.00%, 04/15/21 (Call 04/15/16)b		800		750,000
8.25%, 09/01/17 (Call 03/02/15)b		130		131,950
				2,314,630
BRAZIL — 2.33%
Banco BTG Pactual SA/Cayman Islands
5.75%, 09/28/22b		500		443,500
Banco Daycoval SA
5.75%, 03/19/19b		300		299,970
Banco do Brasil SA
5.88%, 01/19/23b		400		403,500
Caixa Economica Federal
7.25%, 07/23/24 (Call 07/23/19)b,c		200		186,730
Centrais Eletricas Brasileiras SA
5.75%, 10/27/21b		800		716,000
6.88%, 07/30/19b		600		595,560
Oi SA
5.75%, 02/10/22b		800		695,000
Telemar Norte Leste SA
5.50%, 10/23/20b		800		714,000
				4,054,260
BRITISH VIRGIN ISLANDS — 0.63%
Gold Fields Orogen Holding BVI Ltd.
4.88%, 10/07/20b		600		531,000

Security	Principal (000s)		Value
Trillion Chance Ltd.
8.50%, 01/10/19 (Call 01/10/17)b	$	600	$	561,397
				1,092,397
CANADA — 0.72%
Pacific Rubiales Energy Corp.
5.13%, 03/28/23 (Call 03/28/18)b		600		326,400
5.38%, 01/26/19 (Call 01/26/17)b		500		328,750
5.63%, 01/19/25 (Call 01/19/20)b		600		342,000
7.25%, 12/12/21 (Call 12/12/16)b		400		260,000
				1,257,150
CAYMAN ISLANDS — 5.08%
Agile Property Holdings Ltd.
8.38%, 02/18/19 (Call 02/18/17)b		400		375,033
8.88%, 04/28/17 (Call 03/02/15)b		400		394,000
9.88%, 03/20/17b		200		201,000
Country Garden Holdings Co. Ltd.
7.25%, 04/04/21 (Call 10/04/17)b		200		195,000
7.50%, 01/10/23 (Call 01/10/18)b		500		475,625
7.88%, 05/27/19 (Call 05/27/17)b		400		408,000
11.13%, 02/23/18 (Call 03/02/15)b		600		632,250
Evergrande Real Estate Group Ltd.
8.75%, 10/30/18 (Call 10/30/16)b		500		468,750
Fibria Overseas Finance Ltd.
5.25%, 05/12/24		350		352,625
Global A&T Electronics Ltd.
10.00%, 02/01/19 (Call 02/01/16)b		400		370,000
Greenland Hong Kong Holdings Ltd.
4.75%, 10/18/16b		800		798,000
Greentown China Holdings Ltd.
8.50%, 02/04/18 (Call 02/04/16)b		400		399,000
Kaisa Group Holdings Ltd.
10.25%, 01/08/20 (Call 01/08/17)b,d		600		450,000
KWG Property Holding Ltd.
8.98%, 01/14/19 (Call 01/14/17)b		400		370,000
Marfrig Overseas Ltd.
9.50%, 05/04/20 (Call 05/04/15)b		400		373,500
MCE Finance Ltd.
5.00%, 02/15/21 (Call 02/15/16)b		600		564,000
Odebrecht Offshore Drilling Finance Ltd.
6.75%, 10/01/22 (Call 12/01/21)b		1,131		810,927
Shimao Property Holdings Ltd.
6.63%, 01/14/20 (Call 01/14/17)b		600		585,000
8.13%, 01/22/21 (Call 01/22/18)b		200		202,500
SOHO China Ltd.
5.75%, 11/07/17 (Call 11/07/15)b		200		202,500
Sunac China Holdings Ltd.
9.38%, 04/05/18 (Call 04/05/16)b		200		198,000
				8,825,710
COLOMBIA — 0.65%
Banco Davivienda SA
5.88%, 07/09/22b		200		202,000
Bancolombia SA
5.13%, 09/11/22		500		502,800
6.13%, 07/26/20		400		428,080
				1,132,880

6

Schedule of Investments (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS HIGH YIELD BOND ETF

January 31, 2015

Security	Principal (000s)		Value
HONG KONG — 0.30%
China CITIC Bank International Ltd.
6.88%, 06/24/20b	$	300	$	337,755
Yancoal International Resources Development Co. Ltd.
5.73%, 05/16/22b		200		179,000
				516,755
INDIA — 0.65%
ICICI Bank Ltd.
6.38%, 04/30/22 (Call 04/30/17)b,c		500		517,500
IDBI Bank Ltd.
3.75%, 01/25/19b		200		201,926
IDBI Bank Ltd./DIFC Dubai
4.38%, 03/26/18b		400		412,164
				1,131,590
INDONESIA — 3.55%
Pertamina Persero PT
4.30%, 05/20/23b		1,100		1,091,750
4.88%, 05/03/22b		200		206,660
5.25%, 05/23/21b		400		423,000
5.63%, 05/20/43b		1,000		987,500
6.00%, 05/03/42b		600		613,500
6.45%, 05/30/44b		800		874,000
6.50%, 05/27/41b		200		217,000
Perusahaan Gas Negara Persero Tbk PT
5.13%, 05/16/24b		800		844,000
Perusahaan Listrik Negara PT
5.25%, 10/24/42b		500		473,750
5.50%, 11/22/21b		400		431,500
				6,162,660
IRELAND — 2.74%
Alfa Bank OJSC Via Alfa Bond Issuance PLC
7.50%, 09/26/19b		400		338,956
7.75%, 04/28/21b		500		423,586
7.88%, 09/25/17b		600		569,736
Bank Otkritie Financial Corp OJSC via OFCB Capital PLC
7.25%, 04/25/18b		200		153,500
Credit Bank of Moscow Via CBOM Finance PLC
7.70%, 02/01/18b		200		158,904
Gazprombank OAO Via GPB Eurobond Finance PLC
7.50%, 12/28/23 (Call 12/28/18)b,c		400		267,800
Metalloinvest Finance Ltd.
5.63%, 04/17/20b		600		454,272
6.50%, 07/21/16b		200		189,000
Mobile Telesystems OJSC via MTS International Funding Ltd.
5.00%, 05/30/23b		200		156,700
8.63%, 06/22/20b		400		384,664
OJSC Novolipetsk Steel via Steel Funding Ltd.
4.45%, 02/19/18b		400		344,000
Sibur Securities Ltd.
3.91%, 01/31/18b		500		413,750
Vimpel Communications Via VIP Finance Ireland Ltd. OJSC
7.75%, 02/02/21b		400		340,000

Security	Principal (000s)		Value
9.13%, 04/30/18b	$	600	$	567,000
				4,761,868
ISLE OF MAN — 0.45%
AngloGold Ashanti Holdings PLC
5.13%, 08/01/22		500		474,786
5.38%, 04/15/20		300		298,682
				773,468
KAZAKHSTAN — 0.47%
Halyk Savings Bank of Kazakhstan JSC
7.25%, 05/03/17b		400		395,000
7.25%, 01/28/21b		200		189,582
Kazkommertsbank JSC
5.50%, 12/21/22b		400		240,080
				824,662
LUXEMBOURG — 4.57%
ALROSA Finance SA
7.75%, 11/03/20b		600		546,000
Consolidated Energy Finance SA
6.75%, 10/15/19 (Call 10/15/16)b		600		576,000
CSN Resources SA
6.50%, 07/21/20b		600		547,500
Evraz Group SA
6.50%, 04/22/20b		800		590,000
7.40%, 04/24/17b		200		175,400
9.50%, 04/24/18b		400		348,000
Millicom International Cellular SA
4.75%, 05/22/20 (Call 05/22/17)b		200		188,500
6.63%, 10/15/21 (Call 10/15/17)b		400		409,000
Minerva Luxembourg SA
7.75%, 01/31/23 (Call 01/31/18)b		600		577,500
Promsvyazbank OJSC via PSB Finance SA
10.20%, 11/06/19b		400		280,000
Puma International Financing SA
6.75%, 02/01/21 (Call 02/01/17)b		400		396,600
Russian Agricultural Bank OJSC Via RSHB Capital SA
5.10%, 07/25/18b		1,000		800,104
6.30%, 05/15/17b		400		354,088
Sberbank of Russia Via SB Capital SA
5.13%, 10/29/22b		1,000		694,256
Severstal OAO Via Steel Capital SA
5.90%, 10/17/22b		200		164,700
6.70%, 10/25/17b		500		466,750
TMK OAO Via TMK Capital SA
6.75%, 04/03/20b		200		112,000
7.75%, 01/27/18b		300		188,424
VTB Bank OJSC Via VTB Capital SA
6.95%, 10/17/22b		800		524,000
				7,938,822
MEXICO — 2.55%
Axtel SAB de CV CPO
9.00%, 01/31/20 (Call 01/31/16)b,e		200		190,000
Banco Santander Mexico SA
5.95%, 01/30/24 (Call 01/30/19)b,c		800		834,000

7

Schedule of Investments (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS HIGH YIELD BOND ETF

January 31, 2015

Security	Principal (000s)		Value
BBVA Bancomer SA/Texas
7.25%, 04/22/20b	$	600	$	674,940
Cemex SAB de CV
5.70%, 01/11/25 (Call 01/11/20)b		600		553,500
5.88%, 03/25/19 (Call 03/25/16)b		400		402,800
6.50%, 12/10/19 (Call 12/10/17)b		400		404,000
7.25%, 01/15/21 (Call 01/15/18)b		500		516,250
9.50%, 06/15/18 (Call 06/15/16)b		400		434,000
Empresas ICA SAB de CV
8.88%, 05/29/24 (Call 05/29/19)b		400		280,500
8.90%, 02/04/21 (Call 02/04/16)b		200		143,800
				4,433,790
NETHERLANDS — 3.38%
Majapahit Holding BV
7.75%, 10/17/16b		600		654,000
7.75%, 01/20/20b		1,000		1,172,500
7.88%, 06/29/37b		200		249,250
8.00%, 08/07/19b		200		234,500
Marfrig Holding Europe BV
6.88%, 06/24/19 (Call 06/24/17)b		400		347,000
8.38%, 05/09/18b		400		376,800
Metinvest BV
8.75%, 02/14/18b		300		135,000
Myriad International Holdings BV
6.00%, 07/18/20b		400		449,040
VimpelCom Holdings BV
5.95%, 02/13/23b		500		378,750
6.25%, 03/01/17b		400		364,032
7.50%, 03/01/22b		850		706,418
VTR Finance BV
6.88%, 01/15/24 (Call 01/15/19)b		800		802,040
				5,869,330
SINGAPORE — 0.74%
ABJA Investment Co. Pte Ltd.
4.85%, 01/31/20b		200		205,000
5.95%, 07/31/24b		600		611,250
Flextronics International Ltd.
5.00%, 02/15/23		450		468,000
				1,284,250
SOUTH AFRICA — 1.19%
Eskom Holdings Ltd.
5.75%, 01/26/21b		800		798,000
6.75%, 08/06/23b		600		607,620
Myriad International Holdings BV
6.38%, 07/28/17b		600		658,200
				2,063,820
SOUTH KOREA — 0.31%
Woori Bank Co. Ltd.
6.21%, 05/02/37 (Call 05/02/17)b,c		500		534,900
				534,900

Security	Principal (000s)		Value
SRI LANKA — 0.61%
Bank of Ceylon
5.33%, 04/16/18b	$	200	$	199,500
6.88%, 05/03/17b		400		414,000
National Savings Bank
8.88%, 09/18/18b		400		441,000
				1,054,500
THAILAND — 0.24%
Krung Thai Bank PCL/Cayman Islands
1.00%, 12/26/24 (Call 12/26/19)b,c		400		415,254
				415,254
TURKEY — 1.21%
Finansbank AS
5.50%, 05/11/16b		200		204,440
Finansbank AS/Turkey
6.25%, 04/30/19b		400		414,800
Turkiye Is Bankasi AS
6.00%, 10/24/22b		500		504,000
Turkiye Vakiflar Bankasi Tao
6.00%, 11/01/22b		400		397,034
Yapi ve Kredi Bankasi AS
5.50%, 12/06/22b		600		576,300
				2,096,574
UNITED KINGDOM — 1.17%
Oschadbank Via SSB #1 PLC
8.25%, 03/10/16b		400		191,429
Vedanta Resources PLC
6.00%, 01/31/19b		800		716,000
6.75%, 06/07/16b		200		194,500
7.13%, 05/31/23b		200		169,500
8.25%, 06/07/21b		400		362,000
9.50%, 07/18/18b		400		396,000
				2,029,429
UNITED STATES — 1.32%
Cemex Finance LLC
6.00%, 04/01/24 (Call 04/01/19)b		600		564,900
9.38%, 10/12/22 (Call 10/12/17)b		500		550,475
JBS USA LLC/JBS USA Finance Inc.
5.88%, 07/15/24 (Call 07/15/19)b		300		289,500
7.25%, 06/01/21 (Call 06/01/15)b		450		463,500
8.25%, 02/01/20 (Call 03/02/15)b		400		420,752
				2,289,127
VENEZUELA — 3.67%
Petroleos de Venezuela SA
Series 2016
5.13%, 10/28/16		500		245,000
5.25%, 04/12/17b		1,625		601,941
5.38%, 04/12/27b		1,570		473,983
5.50%, 04/12/37b		820		242,679
6.00%, 05/16/24b		2,375		748,125

8

Schedule of Investments (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS HIGH YIELD BOND ETF

January 31, 2015

Security	Principal (000s)		Value
6.00%, 11/15/26b	$	2,350	$	716,926
8.50%, 11/02/17b		3,025		1,728,787
9.00%, 11/17/21b		1,300		456,853
9.75%, 05/17/35b		1,600		569,920
12.75%, 02/17/22b		1,400		589,960
				6,374,174
TOTAL CORPORATE BONDS & NOTES
(Cost: $83,893,517)				71,675,520
FOREIGN GOVERNMENT OBLIGATIONSa — 55.94%
ARGENTINA — 2.47%
Argentine Republic Government International Bond
2.50%, 12/31/38d		2,705		1,399,838
8.28%, 12/31/33d		2,657		2,442,343
8.75%, 06/02/17d		475		441,750
				4,283,931
BELARUS — 0.23%
Republic of Belarus
8.95%, 01/26/18b		500		395,000
				395,000
COSTA RICA — 0.75%
Costa Rica Government International Bond
4.25%, 01/26/23b		400		369,500
4.38%, 04/30/25b		200		180,550
5.63%, 04/30/43b		200		165,500
7.00%, 04/04/44b		600		583,500
				1,299,050
CROATIA — 2.83%
Croatia Government International Bond
5.50%, 04/04/23b		1,000		1,056,250
6.00%, 01/26/24b		800		877,400
6.25%, 04/27/17b		900		952,308
6.38%, 03/24/21b		900		988,983
6.63%, 07/14/20b		200		220,376
6.75%, 11/05/19b		750		827,340
				4,922,657
DOMINICAN REPUBLIC — 1.39%
Dominican Republic International Bond
5.88%, 04/18/24b		500		527,500
6.60%, 01/28/24b		300		327,000
7.45%, 04/30/44b		800		880,000
7.50%, 05/06/21b		600		673,500
				2,408,000

Security	Principal (000s)		Value
ECUADOR — 0.51%
Ecuador Government International Bond
7.95%, 06/20/24b	$	1,000	$	885,000
				885,000
EGYPT — 0.42%
Egypt Government International Bond
5.75%, 04/29/20b		400		427,000
6.88%, 04/30/40b		300		305,250
				732,250
EL SALVADOR — 1.35%
El Salvador Government International Bond
5.88%, 01/30/25b		300		299,250
6.38%, 01/18/27b		300		307,500
7.63%, 02/01/41b		450		483,750
7.65%, 06/15/35b		500		541,875
7.75%, 01/24/23b		320		363,600
8.25%, 04/10/32b		300		347,625
				2,343,600
GUATEMALA — 0.44%
Guatemala Government Bond
4.88%, 02/13/28b		300		313,500
5.75%, 06/06/22b		400		446,000
				759,500
HUNGARY — 5.23%
Hungary Government International Bond
4.00%, 03/25/19		500		525,000
4.13%, 02/19/18		700		733,600
5.38%, 02/21/23		900		1,014,300
5.38%, 03/25/24		1,000		1,139,500
5.75%, 11/22/23		1,200		1,391,436
6.25%, 01/29/20		1,200		1,377,720
6.38%, 03/29/21		1,500		1,761,720
7.63%, 03/29/41		632		935,360
Magyar Export-Import Bank Zrt
4.00%, 01/30/20b		200		202,800
				9,081,436
INDONESIA — 8.98%
Indonesia Government International Bond
3.38%, 04/15/23b		900		880,875
3.75%, 04/25/22b		1,200		1,212,000
4.63%, 04/15/43b		900		884,250
4.88%, 05/05/21b		1,300		1,410,500
5.25%, 01/17/42b		1,200		1,275,000
5.38%, 10/17/23b		400		447,000
5.88%, 03/13/20b		800		902,000
5.88%, 01/15/24b		1,000		1,157,500
6.63%, 02/17/37b		600		736,500
6.75%, 01/15/44b		1,000		1,290,000
6.88%, 03/09/17b		400		440,732
6.88%, 01/17/18b		1,000		1,131,250

9

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS HIGH YIELD BOND ETF

January 31, 2015

Security	Principal (000s)		Value
7.75%, 01/17/38b	$	800	$	1,102,000
8.50%, 10/12/35b		950		1,387,000
11.63%, 03/04/19b		1,000		1,338,750
				15,595,357
JAMAICA — 0.61%
Jamaica Government International Bond
7.63%, 07/09/25		400		435,000
8.00%, 06/24/19		400		426,000
8.00%, 03/15/39		200		204,400
				1,065,400
LEBANON — 2.70%
Lebanon Government International Bond
4.75%, 11/02/16b		300		303,235
5.15%, 11/12/18b		650		648,375
6.00%, 05/20/19b		300		306,360
6.15%, 06/19/20		400		406,080
6.38%, 03/09/20		700		724,500
8.25%, 04/12/21b		1,300		1,453,842
9.00%, 03/20/17		780		844,896
				4,687,288
MOROCCO — 0.74%
Morocco Government International Bond
4.25%, 12/11/22b		800		841,000
5.50%, 12/11/42b		400		448,500
				1,289,500
NIGERIA — 0.44%
Nigeria Government International Bond
5.13%, 07/12/18b		400		386,952
6.38%, 07/12/23b		200		183,532
6.75%, 01/28/21b		200		192,500
				762,984
PAKISTAN — 0.92%
Pakistan Government International Bond
6.88%, 06/01/17b		200		204,500
7.13%, 03/31/16b		300		307,500
7.25%, 04/15/19b		400		407,500
8.25%, 04/15/24b		650		672,880
				1,592,380
SERBIA — 1.55%
Republic of Serbia
4.88%, 02/25/20b		600		612,000
5.25%, 11/21/17b		400		414,100
5.88%, 12/03/18b		500		528,120
7.25%, 09/28/21b		1,000		1,144,540
				2,698,760
SLOVENIA — 3.02%
Slovenia Government International Bond

Security	Principal (000s)		Value
4.13%, 02/18/19b	$	800	$	849,400
4.75%, 05/10/18b		200		214,767
5.25%, 02/18/24b		1,000		1,147,500
5.50%, 10/26/22b		1,200		1,386,000
5.85%, 05/10/23b		1,400		1,655,612
				5,253,279
SRI LANKA — 1.42%
Sri Lanka Government International Bond
5.88%, 07/25/22b		400		417,000
6.00%, 01/14/19b		800		835,000
6.25%, 10/04/20b		850		897,812
6.25%, 07/27/21b		299		316,193
				2,466,005
TURKEY — 14.65%
Export Credit Bank of Turkey
5.00%, 09/23/21b		200		205,250
5.38%, 11/04/16b		400		418,016
Turkey Government International Bond
3.25%, 03/23/23		800		773,000
4.88%, 04/16/43		1,400		1,464,610
5.13%, 03/25/22		442		479,570
5.63%, 03/30/21		850		945,115
5.75%, 03/22/24		1,400		1,603,000
5.88%, 04/24/19b		200		213,500
6.00%, 01/14/41		1,600		1,916,000
6.25%, 09/26/22		1,400		1,627,178
6.63%, 02/17/45		800		1,038,240
6.75%, 04/03/18		1,050		1,175,370
6.75%, 05/30/40		1,050		1,365,000
6.88%, 03/17/36		1,420		1,835,350
7.00%, 09/26/16		1,100		1,194,875
7.00%, 03/11/19		800		919,000
7.00%, 06/05/20		950		1,114,958
7.25%, 03/05/38		410		556,985
7.38%, 02/05/25		1,720		2,192,484
7.50%, 07/14/17		1,100		1,230,625
7.50%, 11/07/19		750		888,825
8.00%, 02/14/34		763		1,090,136
11.88%, 01/15/30		660		1,203,956
				25,451,043
UKRAINE — 1.46%
Ukraine Government International Bond
6.25%, 06/17/16b		600		324,900
6.58%, 11/21/16b		400		215,600
6.75%, 11/14/17b		300		155,700
7.50%, 04/17/23b		700		349,664
7.75%, 09/23/20b		800		414,400
7.80%, 11/28/22b		1,200		600,144
7.95%, 02/23/21b		900		468,108
				2,528,516

10

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS HIGH YIELD BOND ETF

January 31, 2015

Security	Principal (000s)		Value
UNITED KINGDOM — 0.05%
Ukreximbank Via Biz Finance PLC
8.75%, 01/22/18b	$	200	$	93,040
				93,040
VENEZUELA — 3.15%
Venezuela Government International Bond
6.00%, 12/09/20b		780		247,650
7.00%, 12/01/18b		550		192,500
7.00%, 03/31/38b		650		206,375
7.65%, 04/21/25		800		258,000
7.75%, 10/13/19b		1,250		409,375
8.25%, 10/13/24b		1,350		442,125
9.00%, 05/07/23b		1,080		359,100
9.25%, 09/15/27		2,070		765,900
9.25%, 05/07/28b		1,075		360,125
9.38%, 01/13/34		810		277,425
11.75%, 10/21/26b		1,350		482,625
11.95%, 08/05/31b		2,145		777,563
12.75%, 08/23/22b		1,450		543,750
13.63%, 08/15/18		300		146,400
				5,468,913
VIETNAM — 0.63%
Vietnam Government International Bond
4.80%, 11/19/24b		400		421,000
6.75%, 01/29/20b		600		677,250
				1,098,250
TOTAL FOREIGN GOVERNMENT OBLIGATIONS
(Cost: $104,731,922)				97,161,139

Security	Shares (000s)		Value
SHORT-TERM INVESTMENTS — 0.48%
MONEY MARKET FUNDS — 0.48%
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%f,g		841	$	840,774
				840,774
TOTAL SHORT-TERM INVESTMENTS
(Cost: $840,774)				840,774
TOTAL INVESTMENTS IN SECURITIES — 97.69%
(Cost: $189,466,213)				169,677,433
Other Assets, Less Liabilities — 2.31%				4,005,395
NET ASSETS — 100.00%			$	173,682,828

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

^d Issuer is in default of interest payments.

^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.

See accompanying notes to schedules of investments.

11

Schedule of Investments  (Unaudited)

iSHARES^® EMERGING MARKETS LOCAL CURRENCY BOND ETF

January 31, 2015

Security	Principal (000s)			Value
FOREIGN GOVERNMENT OBLIGATIONS — 95.96%
BRAZIL — 14.84%
Brazil Letras do Tesouro Nacional
0.00%, 04/01/15		BRL	7,238	$	2,646,949
0.00%, 07/01/15		BRL	3,674		1,305,219
0.00%, 01/01/16		BRL	24,253		8,097,403
0.00%, 04/01/16		BRL	16,000		5,187,704
0.00%, 07/01/16		BRL	35,680		11,234,441
0.00%, 10/01/16		BRL	50,000		15,274,375
0.00%, 01/01/17		BRL	23,632		7,027,667
0.00%, 07/01/17		BRL	9,246		2,602,089
0.00%, 01/01/18		BRL	14,000		3,728,823
Brazil Notas do Tesouro Nacional Series F
10.00%, 01/01/18		BRL	19,339		6,846,924
10.00%, 01/01/19		BRL	1,138		401,382
10.00%, 01/01/21		BRL	20,351		6,979,024
10.00%, 01/01/23		BRL	4,301		1,453,442
10.00%, 01/01/25		BRL	4,760		1,602,382
Brazilian Government International Bond
8.50%, 01/05/24		BRL	500		174,167
10.25%, 01/10/28		BRL	1,420		551,505
12.50%, 01/05/16		BRL	1,400		522,875
12.50%, 01/05/22		BRL	1,633		679,859
					76,316,230
CHILE — 0.14%
Chile Government International Bond
5.50%, 08/05/20		CLP	416,000		698,677
					698,677
COLOMBIA — 4.18%
Colombia Government International Bond
7.75%, 04/14/21		COP	496,000		226,886
9.85%, 06/28/27		COP	2,998,000		1,641,024
Colombian TES
6.00%, 04/28/28		COP	3,295,000		1,232,392
7.50%, 08/26/26		COP	10,345,800		4,481,736
8.00%, 10/28/15		COP	18,677,000		7,854,844
10.00%, 07/24/24		COP	6,127,000		3,116,344
11.00%, 07/24/20		COP	1,988,000		1,022,718
11.25%, 10/24/18		COP	3,899,000		1,905,644
					21,481,588
CZECH REPUBLIC — 3.65%
Czech Republic Government Bond
3.75%, 09/12/20		CZK	62,840		3,076,164
3.80%, 04/11/15		CZK	91,940		3,766,748
4.00%, 04/11/17		CZK	41,660		1,840,822
4.20%, 12/04/36		CZK	55,220		3,462,593
4.60%, 08/18/18		CZK	66,550		3,142,766
5.70%, 05/25/24		CZK	28,340		1,732,845

Security	Principal (000s)			Value
6.95%, 01/26/16		CZK	40,520	$	1,760,051
					18,781,989
HUNGARY — 2.74%
Hungary Government Bond
5.50%, 02/12/16		HUF	1,027,020		3,879,725
5.50%, 06/24/25		HUF	146,000		656,789
6.00%, 11/24/23		HUF	441,220		2,009,036
6.50%, 06/24/19		HUF	501,250		2,138,089
6.75%, 11/24/17		HUF	222,000		914,227
7.00%, 06/24/22		HUF	707,000		3,292,371
7.50%, 11/12/20		HUF	256,400		1,176,511
					14,066,748
INDONESIA — 4.37%
Indonesia Treasury Bond
5.63%, 05/15/23		IDR	7,531,000		546,061
6.63%, 05/15/33		IDR	22,700,000		1,640,385
7.00%, 05/15/22		IDR	17,549,000		1,392,283
8.25%, 06/15/32		IDR	37,060,000		3,155,256
8.38%, 09/15/26		IDR	6,000,000		518,650
9.50%, 06/15/15		IDR	3,791,000		303,460
9.50%, 07/15/31		IDR	83,515,000		7,911,427
10.00%, 07/15/17		IDR	34,387,000		2,913,835
10.00%, 09/15/24		IDR	17,060,000		1,607,350
11.00%, 11/15/20		IDR	5,513,000		517,245
11.00%, 09/15/25		IDR	19,220,000		1,949,690
					22,455,642
ISRAEL — 4.46%
Israel Government Bond - Fixed
4.00%, 01/31/18		ILS	8,380		2,356,911
4.25%, 03/31/23		ILS	15,678		4,831,064
5.50%, 01/31/22		ILS	3,150		1,030,502
5.50%, 01/31/42		ILS	5,562		2,068,208
6.00%, 02/28/19		ILS	28,536		9,227,436
6.25%, 10/30/26		ILS	3,650		1,347,686
Israel Government Bond - Shahar
6.50%, 01/31/16		ILS	7,620		2,062,865
					22,924,672
MALAYSIA — 4.45%
Malaysia Government Bond
3.49%, 03/31/20		MYR	6,899		1,880,016
3.73%, 06/15/28		MYR	1,800		478,727
3.84%, 08/12/15		MYR	31,899		8,816,011
4.13%, 04/15/32		MYR	7,400		1,987,026
4.39%, 04/15/26		MYR	5,522		1,579,325
4.50%, 04/15/30		MYR	3,300		947,795
5.73%, 07/30/19		MYR	24,070		7,185,041
					22,873,941
MEXICO — 8.44%
Mexican Bonos
6.25%, 06/16/16		MXN	14,009		970,949
6.50%, 06/10/21		MXN	59,936		4,339,288

12

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS LOCAL CURRENCY BOND ETF

January 31, 2015

Security	Principal (000s)			Value
7.25%, 12/15/16		MXN	119,719	$	8,535,343
7.50%, 06/03/27		MXN	51,743		4,081,863
7.75%, 12/14/17		MXN	48,350		3,560,262
7.75%, 05/29/31		MXN	27,758		2,266,377
7.75%, 11/13/42		MXN	36,042		3,007,510
8.00%, 06/11/20		MXN	10,320		794,965
8.00%, 12/07/23		MXN	94,542		7,533,806
8.50%, 11/18/38		MXN	27,030		2,403,866
10.00%, 12/05/24		MXN	64,800		5,894,532
					43,388,761
NIGERIA — 0.92%
Nigeria Government Bond
4.00%, 04/23/15		NGN	205,271		1,063,123
10.00%, 07/23/30		NGN	162,000		588,077
13.05%, 08/16/16		NGN	147,000		757,981
15.10%, 04/27/17		NGN	83,926		443,202
16.39%, 01/27/22		NGN	334,422		1,858,195
					4,710,578
PERU — 1.03%
Peru Government Bond
5.70%, 08/12/24		PEN	302		101,227
6.85%, 02/12/42		PEN	2,410		859,624
8.20%, 08/12/26		PEN	10,785		4,341,871
					5,302,722
PHILIPPINES — 4.40%
Philippine Government Bond
2.88%, 05/22/17		PHP	71,850		1,633,226
3.88%, 11/22/19		PHP	25,000		586,709
4.00%, 12/06/22		PHP	44,000		1,024,075
4.13%, 08/20/24		PHP	50,000		1,208,741
5.00%, 08/18/18		PHP	111,330		2,688,251
7.00%, 01/27/16		PHP	158,796		3,761,866
8.00%, 07/19/31		PHP	59,500		2,088,444
8.13%, 12/16/35		PHP	155,821		5,254,643
8.50%, 11/29/32		PHP	50,000		1,721,657
Philippine Government International Bond
4.95%, 01/15/21		PHP	49,000		1,183,521
6.25%, 01/14/36		PHP	57,000		1,496,326
					22,647,459
POLAND — 3.99%
Poland Government Bond
0.00%, 07/25/15		PLN	2,225		595,316
0.00%, 01/25/16		PLN	11,025		2,926,055
3.75%, 04/25/18		PLN	15,000		4,314,935
4.00%, 10/25/23		PLN	7,500		2,358,379
4.75%, 10/25/16		PLN	10,657		3,028,568
5.25%, 10/25/20		PLN	7,244		2,321,024
5.75%, 09/23/22		PLN	14,422		4,963,320
					20,507,597
ROMANIA — 1.68%
Romania Government Bond

Security	Principal (000s)			Value
5.75%, 01/27/16		RON	7,390	$	1,956,229
5.85%, 04/26/23		RON	6,000		1,878,974
5.90%, 07/26/17		RON	4,290		1,195,228
6.75%, 06/11/17		RON	7,370		2,084,070
Romanian Government International Bond
4.75%, 08/29/16		RON	5,820		1,550,046
					8,664,547
RUSSIA — 2.73%
Russian Federal Bond - OFZ
6.20%, 01/31/18		RUB	121,380		1,380,789
6.80%, 12/11/19		RUB	9,238		98,193
6.88%, 07/15/15		RUB	243,856		3,363,531
7.00%, 01/25/23		RUB	88,000		847,778
7.40%, 04/19/17		RUB	171,140		2,098,944
7.50%, 03/15/18		RUB	55,773		655,080
7.50%, 02/27/19		RUB	84,000		940,633
7.60%, 04/14/21		RUB	273,456		2,848,298
8.15%, 02/03/27		RUB	162,635		1,641,960
Russian Foreign Bond - Eurobond
7.85%, 03/10/18a		RUB	15,000		175,764
					14,050,970
SOUTH AFRICA — 4.34%
South Africa Government Bond
6.25%, 03/31/36		ZAR	35,714		2,610,982
6.50%, 02/28/41		ZAR	60,383		4,454,903
6.75%, 03/31/21		ZAR	45,260		3,901,053
8.25%, 09/15/17		ZAR	61,917		5,576,910
8.75%, 02/28/48		ZAR	29,300		2,788,677
10.50%, 12/21/26		ZAR	24,750		2,705,626
13.50%, 09/15/15		ZAR	567		50,944
13.50%, 09/15/16		ZAR	2,667		254,573
					22,343,668
SOUTH KOREA — 20.94%
Korea Monetary Stabilization Bond
2.74%, 02/02/15		KRW	19,768,500		18,076,536
2.76%, 06/02/15		KRW	1,465,000		1,342,975
Korea Treasury Bond
2.75%, 09/10/17		KRW	8,287,860		7,723,412
3.00%, 12/10/42		KRW	3,425,970		3,449,810
3.13%, 03/10/19		KRW	6,500,000		6,197,289
3.75%, 06/10/22		KRW	3,000,000		3,038,268
4.00%, 03/10/16		KRW	9,984,600		9,328,242
4.00%, 12/10/31		KRW	11,475,250		12,826,341
4.75%, 12/10/30		KRW	4,743,000		5,685,355
5.00%, 06/10/20		KRW	8,100,000		8,494,779
5.25%, 09/10/15		KRW	11,702,460		10,905,888
5.25%, 03/10/27		KRW	5,000,000		5,998,125
5.50%, 09/10/17		KRW	4,274,600		4,253,884
5.50%, 12/10/29		KRW	2,932,040		3,735,643
5.75%, 09/10/18		KRW	6,400,000		6,606,467
					107,663,014
THAILAND — 4.48%
Thailand Government Bond

13

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® EMERGING MARKETS LOCAL CURRENCY BOND ETF

January 31, 2015

Security		Principal or Shares (000s)		Value
3.13%, 12/11/15	THB		209,370	$	6,457,974
3.58%, 12/17/27	THB		119,940		3,918,553
3.63%, 05/22/15	THB		14,922		458,105
3.78%, 06/25/32	THB		44,242		1,422,151
3.80%, 06/14/41	THB		30,000		933,868
3.88%, 06/13/19	THB		33,600		1,095,403
4.88%, 06/22/29	THB		49,500		1,865,211
5.67%, 03/13/28	THB		135,670		5,326,571
6.15%, 07/07/26	THB		37,899		1,539,524
					23,017,360
TURKEY — 4.18%
Turkey Government Bond
6.30%, 02/14/18	TRY		6,540		2,634,340
8.50%, 09/14/22	TRY		7,990		3,537,790
8.80%, 09/27/23	TRY		9,184		4,170,010
9.00%, 01/27/16	TRY		20,166		8,416,492
10.50%, 01/15/20	TRY		5,800		2,733,964
					21,492,596
TOTAL FOREIGN GOVERNMENT OBLIGATIONS
(Cost: $550,177,627)					493,388,759
SHORT-TERM INVESTMENTS — 0.20%
MONEY MARKET FUNDS — 0.20%
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%b,c			1,009		1,008,780
					1,008,780
TOTAL SHORT-TERM INVESTMENTS
(Cost: $1,008,780)					1,008,780
TOTAL INVESTMENTS IN SECURITIES — 96.16%
(Cost: $551,186,407)					494,397,539
Other Assets, Less Liabilities — 3.84%					19,748,912
NET ASSETS — 100.00%				$	514,146,451

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 Sol

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.

14

Schedule of Investments  (Unaudited)

iSHARES^® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF

January 31, 2015

Security		Principal (000s)		Value
CORPORATE BONDS & NOTES — 96.43%
AUSTRALIA — 0.38%
Origin Energy Finance Ltd.
4.00%, 09/16/74 (Call 09/16/19)a,b	EUR		750	$	781,804
					781,804
AUSTRIA — 1.01%
BAWAG PSK Bank fuer Arbeit und Wirtschaft und Oesterreichische Postsparkasse AG
8.13%, 10/30/23a	EUR		200		269,136
Heta Asset Resolution AG
4.25%, 10/31/16	EUR		850		576,991
4.38%, 01/24/17	EUR		1,300		876,641
Wienerberger AG
4.00%, 04/17/20	EUR		300		367,931
					2,090,699
BELGIUM — 0.43%
Barry Callebaut Services NV
5.63%, 06/15/21a	EUR		200		271,686
6.00%, 07/13/17	EUR		300		374,927
Ontex Group NV
4.75%, 11/15/21 (Call 11/15/17)a	EUR		200		240,360
					886,973
CANADA — 3.47%
Air Canada
7.63%, 10/01/19 (Call 10/01/16)c	CAD		250		208,506
Armtec Holdings Ltd.
8.88%, 09/22/17 (Call 03/02/15)	CAD		63		27,328
Athabasca Oil Corp.
7.50%, 11/19/17 (Call 03/02/15)c	CAD		250		161,678
7.50%, 11/19/17 (Call 03/02/15)a	CAD		150		97,007
AutoCanada Inc.
5.63%, 05/25/21 (Call 05/25/17)	CAD		100		77,882
Baytex Energy Corp.
6.63%, 07/19/22 (Call 07/19/17)	CAD		250		188,296
Bombardier Inc.
6.13%, 05/15/21a	EUR		500		570,601
Brookfield Office Properties Inc.
4.00%, 04/16/18	CAD		100		80,445
4.30%, 01/17/17	CAD		100		80,642
Canadian Energy Services & Technology Corp.
7.38%, 04/17/20 (Call 04/17/17)	CAD		250		189,282
Cascades Inc.
5.50%, 07/15/21 (Call 07/15/17)c	CAD		200		154,580
Centric Health Corp.
8.63%, 04/18/18 (Call 04/18/16)	CAD		130		83,047
Connacher Oil and Gas Ltd.
8.75%, 08/01/18 (Call 08/01/15)c	CAD		250		59,151
Corus Entertainment Inc.
4.25%, 02/11/20a	CAD		400		302,851

Security		Principal (000s)		Value
Crew Energy Inc.
8.38%, 10/21/20 (Call 10/21/16)a	CAD		150	$	113,273
DHX Media Ltd.
5.88%, 12/02/21 (Call 12/02/17)	CAD		125		98,091
Gateway Casinos & Entertainment Ltd.
8.50%, 11/26/20 (Call 11/26/16)c	CAD		150		117,118
GFL Environmental Corp.
7.50%, 06/18/18 (Call 06/18/15)a	CAD		250		191,254
Gibson Energy Inc.
5.38%, 07/15/22 (Call 07/15/17)c	CAD		125		95,134
5.38%, 07/15/22 (Call 07/15/17)a	CAD		150		113,865
7.00%, 07/15/20 (Call 07/15/16)c	CAD		100		82,022
Great Canadian Gaming Corp.
6.63%, 07/25/22 (Call 07/25/17)c	CAD		325		265,931
Iron Mountain Canada Operations ULC
6.13%, 08/15/21 (Call 08/15/17)	CAD		150		120,076
Mattamy Group Corp.
6.88%, 11/15/20 (Call 11/15/15)c	CAD		100		77,684
Newalta Corp.
Series 2
7.75%, 11/14/19 (Call 11/14/15)	CAD		50		40,715
Noralta Lodge Ltd.
7.50%, 09/24/19 (Call 09/24/16)a	CAD		100		73,445
NRL Energy Investments Ltd.
8.25%, 04/13/18 (Call 04/13/15)	CAD		100		63,883
Paramount Resources Ltd.
7.63%, 12/04/19 (Call 12/04/15)	CAD		300		223,589
8.25%, 12/13/17 (Call 03/02/15)	CAD		300		231,279
Parkland Fuel Corp.
5.50%, 05/28/21 (Call 05/28/17)	CAD		150		116,822
6.00%, 11/21/22 (Call 11/21/17)	CAD		150		118,005
Perpetual Energy Inc.
8.75%, 03/15/18 (Call 03/15/15)a	CAD		100		73,347
8.75%, 07/23/19 (Call 07/23/16)	CAD		100		70,981
Postmedia Network Inc.
8.25%, 08/16/17 (Call 08/16/15)c	CAD		132		105,982
Precision Drilling Corp.
6.50%, 03/15/19 (Call 03/15/15)	CAD		150		112,386
Quebecor Media Inc.
6.63%, 01/15/23c	CAD		400		328,089
7.38%, 01/15/21 (Call 01/15/16)	CAD		150		125,547
River Cree Enterprises LP
11.00%, 01/20/21 (Call 01/20/18)c	CAD		100		82,417
Russel Metals Inc.
6.00%, 04/19/22 (Call 04/19/17)c	CAD		50		39,532
6.00%, 04/19/22 (Call 04/19/17)	CAD		200		159,312
Sirius XM Canada Holdings Inc.
5.63%, 04/23/21 (Call 04/23/17)c	CAD		200		156,552
Southern Pacific Resource Corp.
8.75%, 01/25/18 (Call 03/02/15)c	CAD		50		2,760
Superior Plus LP
6.50%, 12/09/21 (Call 12/09/17)	CAD		200		156,158
Tervita Corp.
9.00%, 11/15/18 (Call 11/15/15)c	CAD		125		84,783
Trilogy Energy Corp.
7.25%, 12/13/19 (Call 12/13/15)c	CAD		250		181,395
Vermilion Energy Inc.
6.50%, 02/10/16 (Call 03/02/15)	CAD		100		78,868
Videotron Ltd.
5.63%, 06/15/25 (Call 03/15/25)	CAD		275		217,774
6.88%, 07/15/21 (Call 06/15/16)	CAD		225		189,663
7.13%, 01/15/20 (Call 03/02/15)	CAD		200		163,467

15

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF

January 31, 2015

Security		Principal (000s)		Value
Wajax Corp.
6.13%, 10/23/20 (Call 10/23/17)a	CAD		100	$	82,417
Yellow Pages Digital & Media Solutions Ltd.
9.25%, 11/30/18 (Call 03/02/15)c	CAD		374		308,711
					7,143,623
CAYMAN ISLANDS — 0.93%
Brakes Capital
7.13%, 12/15/18 (Call 12/15/15)c	GBP		100		152,067
7.13%, 12/15/18 (Call 12/15/15)a	GBP		300		456,202
UPCB Finance II Ltd.
6.38%, 07/01/20 (Call 07/01/15)a	EUR		550		650,129
UPCB Finance Ltd.
7.63%, 01/15/20 (Call 02/13/15)a	EUR		350		409,769
Viridian Group FundCo II Ltd.
11.13%, 04/01/17 (Call 04/01/15)a	EUR		200		238,667
					1,906,834
FINLAND — 0.88%
Nokia OYJ
6.75%, 02/04/19a	EUR		400		542,379
Stora Enso OYJ
5.00%, 03/19/18a	EUR		400		496,144
5.50%, 03/07/19a	EUR		350		449,070
UPM-Kymmene OYJ
6.63%, 01/23/17	GBP		200		326,701
					1,814,294
FRANCE — 13.29%
3AB Optique Developpement SAS
5.63%, 04/15/19 (Call 10/15/15)a	EUR		200		194,093
Banque PSA Finance SA
4.25%, 02/25/16a	EUR		400		467,002
Cegedim SA
6.75%, 04/01/20 (Call 04/01/16)a	EUR		300		367,611
Cerba European Lab SAS
7.00%, 02/01/20 (Call 02/01/16)a	EUR		350		412,731
CGG SA
5.88%, 05/15/20 (Call 05/15/17)a	EUR		250		250,375
Ciments Francais SA
4.75%, 04/04/17a	EUR		350		419,729
CMA CGM SA
8.75%, 12/15/18 (Call 12/15/15)a	EUR		200		240,360
8.88%, 04/15/19 (Call 04/15/15)a	EUR		200		236,410
Crown European Holdings SA
4.00%, 07/15/22 (Call 04/15/22)a	EUR		500		589,615
Darty Financement SAS
5.88%, 03/01/21 (Call 03/01/17)a	EUR		200		239,068
Europcar Groupe SA
9.38%, 04/15/18 (Call 03/02/15)a	EUR		300		353,769
11.50%, 05/15/17a	EUR		200		253,901
Faurecia
8.75%, 06/15/19 (Call 06/15/15)a	EUR		100		123,001
9.38%, 12/15/16a	EUR		400		514,573
Financiere Gaillon 8 SAS
7.00%, 09/30/19 (Call 03/31/16)a	EUR		300		335,573
Groupama SA
7.88%, 10/27/39 (Call 10/27/19)b	EUR		600		767,798

Security		Principal (000s)		Value
Holdikks SAS
6.75%, 07/15/21 (Call 07/15/17)a	EUR		200	$	179,424
Holding Medi-Partenaires SAS
7.00%, 05/15/20 (Call 05/15/16)a	EUR		400		476,770
HomeVi SAS
6.88%, 08/15/21 (Call 08/15/17)a	EUR		300		357,578
Italcementi Finance SA
6.13%, 02/21/18a	EUR		400		499,633
6.63%, 03/19/20a,d	EUR		500		655,348
La Financiere Atalian SAS
7.25%, 01/15/20 (Call 01/15/17)a	EUR		200		241,583
Labco SA
8.50%, 01/15/18 (Call 03/02/15)a	EUR		475		558,795
Labeyrie Fine Foods SAS
5.63%, 03/15/21 (Call 03/15/17)a	EUR		250		287,755
Lafarge SA
4.25%, 03/23/16	EUR		250		293,040
4.75%, 03/23/20	EUR		350		463,891
4.75%, 09/30/20a	EUR		600		806,963
5.38%, 06/26/17a	EUR		400		499,060
5.88%, 07/09/19a	EUR		400		543,777
6.25%, 04/13/18a	EUR		400		513,621
6.63%, 11/29/18a	EUR		750		990,638
6.75%, 12/16/19a	EUR		500		689,287
8.88%, 11/24/16a	EUR		500		643,047
Loxam SAS
4.88%, 07/23/21 (Call 07/23/17)a	EUR		300		336,842
7.00%, 07/23/22 (Call 07/23/17)a	EUR		150		156,573
7.38%, 01/24/20 (Call 01/24/16)a	EUR		250		281,407
Nexans SA
4.25%, 03/19/18	EUR		200		234,718
5.75%, 05/02/17	EUR		300		360,540
Novafives SAS
4.50%, 06/30/21 (Call 06/30/17)a	EUR		250		273,649
Novalis SAS
6.00%, 06/15/18 (Call 06/15/15)a	EUR		300		353,769
Numericable-SFR
5.38%, 05/15/22 (Call 05/15/17)a	EUR		650		772,331
5.63%, 05/15/24 (Call 05/15/19)a	EUR		1,000		1,198,979
Peugeot SA
5.00%, 10/28/16	EUR		500		599,439
5.63%, 07/11/17	EUR		500		616,684
6.50%, 01/18/19a	EUR		400		526,592
6.88%, 03/30/16a	EUR		300		360,091
7.38%, 03/06/18a	EUR		750		981,655
Renault SA
3.13%, 03/05/21a	EUR		350		437,801
3.63%, 09/19/18a	EUR		750		923,331
4.63%, 05/25/16a	EUR		400		474,186
4.63%, 09/18/17a	EUR		750		926,707
5.63%, 03/22/17	EUR		350		434,071
Rexel SA
5.13%, 06/15/20 (Call 06/15/16)a	EUR		450		546,523
7.00%, 12/17/18 (Call 06/17/15)a	EUR		300		357,155
SGD Group SAS
5.63%, 05/15/19 (Call 10/15/15)a	EUR		300		328,379
SMCP SAS
8.88%, 06/15/20 (Call 06/15/16)a	EUR		200		229,075
SPCM SA
5.50%, 06/15/20 (Call 06/15/16)a	EUR		350		418,315
Tereos Finance Groupe I
4.25%, 03/04/20	EUR		400		456,699

16

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF

January 31, 2015

Security		Principal (000s)		Value
THOM Europe SAS
7.38%, 07/15/19 (Call 07/15/16)a	EUR		300	$	333,457
					27,384,787
GERMANY — 8.65%
Bayerische Landbank
5.75%, 10/23/17	EUR		800		1,006,047
CeramTec Group GmbH
8.25%, 08/15/21 (Call 08/15/16)a	EUR		200		244,874
Commerzbank AG
6.38%, 03/22/19	EUR		1,000		1,306,657
7.75%, 03/16/21	EUR		1,000		1,404,085
Deutsche Lufthansa AG
1.13%, 09/12/19a	EUR		300		340,342
6.50%, 07/07/16	EUR		100		122,466
Deutsche Raststaetten Gruppe IV GmbH
6.75%, 12/30/20 (Call 12/30/16)a	EUR		300		363,079
Franz Haniel & Cie GmbH
5.88%, 02/01/17	EUR		250		310,493
FTE Verwaltungs GmbH
9.00%, 07/15/20 (Call 07/15/16)a	EUR		200		229,075
Hapag-Lloyd AG
7.50%, 10/15/19 (Call 10/15/16)a	EUR		200		237,539
7.75%, 10/01/18 (Call 10/01/15)a	EUR		300		356,308
Heckler & Koch GmbH
9.50%, 05/15/18 (Call 03/02/15)a	EUR		200		165,882
Heidelberger Druckmaschinen AG
9.25%, 04/15/18 (Call 03/02/15)a	EUR		250		287,755
Hornbach Baumarkt AG
3.88%, 02/15/20a	EUR		250		309,663
KP Germany Erste GmbH
11.63%, 07/15/17 (Call 03/02/15)a	EUR		200		240,924
KraussMaffei Group GmbH
8.75%, 12/15/20 (Call 12/15/15)a	EUR		180		220,386
Norddeutsche Landesbank Girozentrale
6.00%, 06/29/20	EUR		400		521,931
Pfleiderer GmbH
7.88%, 08/01/19 (Call 08/01/16)a	EUR		250		263,775
Rheinmetall AG
5.25%, 09/22/17	EUR		400		493,869
SGL Carbon SE
4.88%, 01/15/21 (Call 01/15/17)a	EUR		200		236,997
Techem Energy Metering Service GmbH & Co. KG
7.88%, 10/01/20 (Call 10/01/16)a	EUR		200		249,388
Techem GmbH
6.13%, 10/01/19 (Call 10/01/15)a	EUR		400		480,720
ThyssenKrupp AG
3.13%, 10/25/19 (Call 07/25/19)a	EUR		900		1,069,651
4.00%, 08/27/18	EUR		1,250		1,517,556
4.38%, 02/28/17	EUR		1,000		1,197,039
Trionista Holdco GmbH
5.00%, 04/30/20 (Call 04/30/16)a	EUR		200		234,718
Trionista TopCo GmbH
6.88%, 04/30/21 (Call 04/30/16)a	EUR		400		479,591
TUI AG
4.50%, 10/01/19 (Call 10/01/16)a	EUR		250		297,629
Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH
4.00%, 01/15/25 (Call 01/15/20)a	EUR		700		817,562
5.13%, 01/21/23 (Call 01/21/18)a	EUR		300		363,079
5.50%, 09/15/22 (Call 09/15/17)a	EUR		600		729,543
5.63%, 04/15/23 (Call 04/15/18)a	EUR		400		492,004

Security		Principal (000s)		Value
5.75%, 01/15/23 (Call 01/15/18)a	EUR		400	$	492,004
Unitymedia KabelBW GmbH
9.50%, 03/15/21 (Call 03/15/16)a	EUR		400		503,289
WEPA Hygieneprodukte GmbH
6.50%, 05/15/20 (Call 05/15/16)a	EUR		200		244,310
					17,830,230
IRELAND — 3.25%
AG Spring Finance Ltd.
7.50%, 06/01/18 (Call 06/01/15)a	EUR		200		216,098
Allied Irish Banks PLC
2.75%, 04/16/19a	EUR		400		479,817
2.88%, 11/28/16a	EUR		350		408,228
Ardagh Packaging Finance PLC
9.25%, 10/15/20 (Call 10/15/15)a	EUR		300		359,270
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc.
4.25%, 01/15/22 (Call 06/30/17)a	EUR		900		1,007,988
Bank of Ireland
2.00%, 05/08/17a	EUR		400		461,637
2.75%, 06/05/16	EUR		150		173,405
3.25%, 01/15/19a	EUR		550		669,342
4.25%, 06/11/24 (Call 06/11/19)a,b	EUR		550		631,509
10.00%, 12/19/22a	EUR		200		298,475
eircom Finance Ltd.
9.25%, 05/15/20 (Call 05/15/16)a	EUR		300		369,003
Rottapharm Ltd.
6.13%, 11/15/19 (Call 11/15/15)a	EUR		300		358,001
Smurfit Kappa Acquisitions
3.25%, 06/01/21 (Call 03/10/21)a	EUR		500		602,311
4.13%, 01/30/20a	EUR		250		308,913
UT2 Funding PLC
5.32%, 06/30/16	EUR		300		341,921
					6,685,918
ITALY — 13.91%
Astaldi SpA
7.13%, 12/01/20 (Call 12/01/16)a	EUR		550		651,680
Banca Monte dei Paschi di Siena SpA
3.63%, 04/01/19a	EUR		900		1,060,583
4.88%, 05/31/16	EUR		400		450,252
5.00%, 04/21/20a	EUR		400		455,894
5.60%, 09/09/20	EUR		300		344,900
Banca Popolare di Milano Scarl
4.25%, 01/30/19a	EUR		350		432,957
7.13%, 03/01/21a	EUR		400		525,202
Banca Popolare di Vicenza
3.50%, 01/20/17a	EUR		500		582,598
5.00%, 10/25/18a	EUR		200		246,708
Banco Popolare SC
2.38%, 01/22/18a	EUR		700		810,216
3.50%, 03/14/19a	EUR		1,000		1,203,987
3.75%, 01/28/16a	EUR		500		578,883
6.00%, 11/05/20a	EUR		500		626,664
6.38%, 05/31/21a	EUR		200		257,133
Buzzi Unicem SpA
5.13%, 12/09/16 a	EUR		200		239,167
6.25%, 09/28/18 a	EUR		350		448,777
Cerved Group SpA
6.38%, 01/15/20 (Call 01/15/16)a	EUR		200		239,796

17

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF

January 31, 2015

Security		Principal (000s)		Value
Cooperativa Muratori & Cementisti-CMC di Ravenna SC
7.50%, 08/01/21 (Call 08/01/17)a	EUR		250	$	246,849
Enel SpA
5.00%, 01/15/75 (Call 01/15/20)a,b	EUR		700		861,995
6.50%, 01/10/74 (Call 01/10/19)a,b	EUR		950		1,210,051
Iccrea Banca SpA
1.88%, 11/25/19a	EUR		350		402,779
Intesa Sanpaolo SpA
6.63%, 05/08/18a	EUR		200		251,644
6.63%, 09/13/23a	EUR		400		569,152
IVS F SpA
7.13%, 04/01/20 (Call 04/01/16)a	EUR		200		234,718
Manutencoop Facility Management SpA
8.50%, 08/01/20 (Call 08/01/16)a	EUR		300		284,370
Mediobanca SpA
5.00%, 11/15/20	EUR		500		623,705
5.75%, 04/18/23	EUR		400		521,072
Piaggio & C SpA
4.63%, 04/30/21 (Call 04/30/17)a	EUR		100		117,077
Rhino Bondco SpA
7.25%, 11/15/20 (Call 11/01/16)a	EUR		200		232,461
Salini Costruttori SpA
6.13%, 08/01/18	EUR		300		369,237
Sisal Group SpA
7.25%, 09/30/17 (Call 02/09/15)a	EUR		200		223,997
Snai SpA
7.63%, 06/15/18 (Call 12/15/15)a	EUR		200		231,332
TeamSystem Holding SpA
7.38%, 05/15/20 (Call 05/15/16)a	EUR		265		312,496
Telecom Italia SpA
3.25%, 01/16/23a	EUR		500		585,440
4.00%, 01/21/20a	EUR		375		459,409
4.50%, 09/20/17a	EUR		400		488,529
4.50%, 01/25/21a	EUR		350		440,645
4.75%, 05/25/18a	EUR		300		373,146
4.88%, 09/25/20a	EUR		450		575,528
5.25%, 02/10/22a	EUR		550		724,981
5.38%, 01/29/19a	EUR		500		639,528
6.13%, 12/14/18	EUR		250		327,081
6.38%, 06/24/19	GBP		300		503,659
7.00%, 01/20/17a	EUR		400		502,907
8.25%, 03/21/16	EUR		150		183,288
UniCredit SpA
3.95%, 02/01/16	EUR		350		403,844
5.75%, 09/26/17	EUR		700		880,527
5.75%, 10/28/25 (Call 10/28/20)a,b	EUR		800		986,807
6.13%, 04/19/21	EUR		300		386,167
6.70%, 06/05/18	EUR		650		827,013
6.95%, 10/31/22a	EUR		1,300		1,752,248
Unipol Gruppo Finanziario SpA
4.38%, 03/05/21a	EUR		370		466,728
5.00%, 01/11/17a	EUR		250		301,190
Veneto Banca SCPA
4.00%, 01/20/17a	EUR		450		523,455
4.00%, 05/20/19a	EUR		300		353,811
4.25%, 01/18/16a	EUR		100		115,619
					28,649,882

Security		Principal (000s)		Value
JAPAN — 0.32%
SoftBank Corp.
4.63%, 04/15/20a	EUR		550	$	667,972
					667,972
JERSEY — 0.70%
AA Bond Co. Ltd.
9.50%, 07/31/43 (Call 01/31/16)a	GBP		500		822,291
Aston Martin Capital Ltd.
9.25%, 07/15/18 (Call 03/02/15)a	GBP		100		152,068
9.25%, 07/15/18	GBP		100		152,067
Hastings Insurance Group Finance PLC
8.00%, 10/21/20 (Call 10/30/16)c	GBP		100		157,324
8.00%, 10/21/20 (Call 10/30/16)a	GBP		100		157,324
					1,441,074
LUXEMBOURG — 16.13%
Aldesa Financial Services SA
7.25%, 04/01/21 (Call 04/01/17)a	EUR		150		137,953
Altice SA
7.25%, 05/15/22 (Call 05/15/17)a	EUR		1,550		1,839,846
ArcelorMittal
2.88%, 07/06/20a	EUR		400		451,926
3.00%, 03/25/19a	EUR		500		572,233
3.13%, 01/14/22a	EUR		700		774,117
5.75%, 03/29/18a	EUR		300		373,235
5.88%, 11/17/17a	EUR		650		808,668
10.63%, 06/03/16	EUR		650		822,961
Befesa Zinc SAU Via Zinc Capital SA
8.88%, 05/15/18 (Call 03/02/15)a	EUR		300		354,346
Bormioli Rocco Holdings SA
10.00%, 08/01/18 (Call 03/02/15)a	EUR		200		212,149
Cabot Financial Luxembourg SA
10.38%, 10/01/19 (Call 10/01/15)a	GBP		150		247,250
Cirsa Funding Luxembourg SA
8.75%, 05/15/18 (Call 03/02/15)a	EUR		600		696,536
Clariant Finance Luxembourg SA
5.63%, 01/24/17	EUR		400		493,453
CNH Industrial Finance Europe SA
2.75%, 03/18/19a	EUR		700		802,712
2.88%, 09/27/21a	EUR		450		519,127
6.25%, 03/09/18a	EUR		950		1,200,457
ConvaTec Healthcare E SA
7.38%, 12/15/17 (Call 03/02/15)a	EUR		150		175,412
10.88%, 12/15/18 (Call 03/02/15)a	EUR		250		298,334
Dufry Finance SCA
4.50%, 07/15/22 (Call 07/15/17)a	EUR		350		416,680
Fiat Chrysler Finance Europe
4.75%, 03/22/21a	EUR		450		559,591
4.75%, 07/15/22a	EUR		800		999,122
6.38%, 04/01/16a	EUR		400		475,340
6.63%, 03/15/18a	EUR		700		890,197
6.75%, 10/14/19a	EUR		600		797,171
7.00%, 03/23/17a	EUR		500		622,760
7.38%, 07/09/18	EUR		300		393,547
7.75%, 10/17/16a	EUR		500		619,840
Findus Bondco SA
9.13%, 07/01/18 (Call 07/01/15)a	EUR		200		239,231

18

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF

January 31, 2015

Security		Principal (000s)		Value
Finmeccanica SA
4.50%, 01/19/21	EUR		750	$	957,615
8.00%, 12/16/19	GBP		275		491,910
FMC Finance VI SA
5.50%, 07/15/16a	EUR		100		120,525
FMC Finance VII SA
5.25%, 02/15/21a	EUR		200		266,100
FMC Finance VIII SA
5.25%, 07/31/19a	EUR		250		327,956
6.50%, 09/15/18a	EUR		350		465,063
Galapagos Holding SA
7.00%, 06/15/22 (Call 06/15/17)a	EUR		100		104,382
Galapagos SA/Luxembourg
5.38%, 06/15/21 (Call 06/15/17)a	EUR		150		167,829
Gategroup Finance Luxembourg SA
6.75%, 03/01/19 (Call 03/01/16)a	EUR		200		236,975
GCS Holdco Finance I SA
6.50%, 11/15/18 (Call 11/15/15)a	EUR		350		415,693
Geo Debt Finance SCA
7.50%, 08/01/18 (Call 03/02/15)a	EUR		200		202,557
Gestamp Funding Luxembourg SA
5.88%, 05/31/20 (Call 05/31/16)a	EUR		350		418,655
HeidelbergCement Finance Luxembourg SA
2.25%, 03/12/19a	EUR		350		412,034
3.25%, 10/21/20a	EUR		350		433,071
3.25%, 10/21/21a	EUR		400		500,468
4.00%, 03/08/16a	EUR		200		232,799
5.63%, 01/04/18	EUR		500		636,774
7.50%, 04/03/20	EUR		500		731,377
8.00%, 01/31/17a	EUR		500		641,442
8.50%, 10/31/19a	EUR		350		523,008
9.50%, 12/15/18a	EUR		300		443,461
INEOS Group Holdings SA
5.75%, 02/15/19 (Call 02/15/16)a	EUR		450		495,108
6.50%, 08/15/18 (Call 05/15/15)a	EUR		350		393,970
Intralot Capital Luxembourg SA
6.00%, 05/15/21 (Call 05/15/17)a	EUR		250		236,975
Intralot Finance Luxembourg SA
9.75%, 08/15/18 (Call 08/15/16)a	EUR		100		113,974
KION Finance SA
6.75%, 02/15/20 (Call 02/15/16)a	EUR		350		426,554
Magnolia BC SA
9.00%, 08/01/20 (Call 08/01/16)a	EUR		200		214,406
PagesJaunes Finance & Co. SCA
8.88%, 06/01/18 (Call 02/09/15)a	EUR		200		223,738
S&B Minerals Finance SCA/S&B Industrial Minerals North America Inc.
9.25%, 08/15/20 (Call 08/15/16)a	EUR		200		253,901
Servus Luxembourg Holding SCA
7.75%, 06/15/18 (Call 06/15/15)a	EUR		163		193,365
Sunrise Communications Holdings SA
8.50%, 12/31/18 (Call 03/02/15)a	EUR		350		410,953
Takko Luxembourg 2 SCA
9.88%, 04/15/19 (Call 04/15/16)a	EUR		200		91,404
Telenet Finance III Luxembourg SCA
6.63%, 02/15/21 (Call 02/15/16)a	EUR		200		239,707
Telenet Finance Luxembourg SCA
6.38%, 11/15/20 (Call 11/15/15)a	EUR		400		476,376
Telenet Finance V Luxembourg SCA
6.25%, 08/15/22 (Call 08/15/17)a	EUR		350		427,542
6.75%, 08/15/24 (Call 08/15/18)a	EUR		200		253,827
Wind Acquisition Finance SA
4.00%, 07/15/20 (Call 07/15/16)a	EUR		1,600		1,791,979

Security		Principal (000s)		Value
7.00%, 04/23/21 (Call 04/23/17)a	EUR		1,300	$	1,465,152
					33,232,819
NETHERLANDS — 10.12%
Atradius Finance BV
5.25%, 09/23/44 (Call 09/23/24)a, b	EUR		150		169,691
Carlson Wagonlit BV
7.50%, 06/15/19 (Call 06/15/15)a	EUR		200		241,227
Constellium NV
4.63%, 05/15/21 (Call 05/15/17)a	EUR		250		248,259
Deutsche Annington Finance BV
4.63%, 04/08/74 (Call 04/08/19)a,b	EUR		500		600,900
EDP Finance BV
2.63%, 04/15/19a	EUR		450		532,113
2.63%, 01/18/22a	EUR		800		930,069
4.13%, 06/29/20	EUR		250		314,975
4.13%, 01/20/21a	EUR		400		507,043
4.63%, 06/13/16	EUR		350		414,249
4.75%, 09/26/16a	EUR		700		837,060
4.88%, 09/14/20	EUR		500		653,660
5.75%, 09/21/17a	EUR		700		884,196
5.88%, 02/01/16a	EUR		350		414,427
Fresenius Finance BV
2.38%, 02/01/19a	EUR		200		239,324
2.88%, 07/15/20a	EUR		350		426,633
3.00%, 02/01/21a	EUR		350		430,583
4.00%, 02/01/24a	EUR		350		455,584
4.25%, 04/15/19a	EUR		400		507,848
Frigoglass Finance BV
8.25%, 05/15/18 (Call 05/15/15)a	EUR		200		169,268
General Motors Financial International BV
1.88%, 10/15/19a	EUR		450		523,646
Goodyear Dunlop Tires Europe BV
6.75%, 04/15/19 (Call 04/15/15)a	EUR		200		235,131
Grupo Antolin Dutch BV
4.75%, 04/01/21 (Call 04/01/17)a	EUR		350		411,743
Grupo Isolux Corsan Finance BV
6.63%, 04/15/21 (Call 04/15/17)a	EUR		600		583,973
Hema Bondco I BV
6.25%, 06/15/19 (Call 06/15/16)a	EUR		200		185,630
Hertz Holdings Netherlands BV
4.38%, 01/15/19a	EUR		350		398,907
InterXion Holding NV
6.00%, 07/15/20 (Call 07/15/16)a	EUR		300		354,615
LGE HoldCo VI BV
7.13%, 05/15/24 (Call 05/15/19)a	EUR		500		637,574
Nyrstar Netherlands Holdings BV
8.50%, 09/15/19a	EUR		250		279,997
OI European Group BV
4.88%, 03/31/21a	EUR		200		249,105
6.75%, 09/15/20a	EUR		400		539,399
Phoenix PIB Dutch Finance BV
3.13%, 05/27/20a	EUR		200		232,009
3.63%, 07/30/21a	EUR		200		234,830
PortAventura Entertainment Barcelona BV
7.25%, 12/01/20 (Call 12/01/16)a	EUR		200		231,897
Refresco Gerber BV
7.38%, 05/15/18 (Call 03/02/15)a	EUR		350		413,205
Samvardhana Motherson Automotive Systems Group BV
4.13%, 07/15/21 (Call 07/15/17)a	EUR		400		444,609
Schaeffler Finance BV

19

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF

January 31, 2015

Security		Principal (000s)		Value
2.75%, 05/15/19 (Call 05/15/16)a	EUR		350	$	398,907
3.25%, 05/15/19 (Call 05/15/16)a	EUR		350		401,376
3.50%, 05/15/22 (Call 05/15/17)a	EUR		400		468,871
4.25%, 05/15/18 (Call 05/15/15)a	EUR		450		521,132
7.75%, 02/15/17a	EUR		600		755,780
Selecta Group BV
6.50%, 06/15/20 (Call 12/15/16)a	EUR		300		324,994
SNS BANK NV
6.25%, 10/26/20	EUR		50		—
Stork Technical Services Holdings BV
11.00%, 08/15/17 (Call 03/02/15)a	EUR		200		191,272
ThyssenKrupp Finance Nederland BV
8.50%, 02/25/16	EUR		400		486,787
Univeg Holding BV
7.88%, 11/15/20 (Call 11/15/16)a	EUR		250		268,007
UPC Holding BV
6.38%, 09/15/22 (Call 09/15/17)a	EUR		500		604,426
6.75%, 03/15/23 (Call 03/15/18)a	EUR		300		369,850
8.38%, 08/15/20 (Call 02/13/15)a	EUR		500		609,363
Ziggo Bond Finance BV
4.63%, 01/15/25 (Call 01/15/20)a	EUR		300		344,053
Ziggo Secured Finance BV
3.75%, 01/15/25 (Call 01/15/20)a	EUR		150		169,268
					20,847,465
NORWAY — 0.39%
Lock AS
7.00%, 08/15/21 (Call 08/15/17)a	EUR		400		464,922
Lock Lower Holding AS
9.50%, 08/15/22 (Call 08/15/18)a	EUR		200		232,179
Norske Skogindustrier ASA
7.00%, 06/26/17a	EUR		150		101,560
					798,661
PORTUGAL — 1.24%
Banco Comercial Portugues SA
3.38%, 02/27/17a	EUR		400		457,700
Novo Banco SA
2.63%, 05/08/17a	EUR		500		554,332
4.00%, 01/21/19a	EUR		600		681,150
4.75%, 01/15/18a	EUR		400		463,933
7.13%, 11/28/23 (Call 11/28/18)a	EUR		300		27,083
Portucel SA
5.38%, 05/15/20 (Call 05/15/16)a	EUR		300		365,618
					2,549,816
SPAIN — 4.95%
Abengoa Finance SAU
6.00%, 03/31/21a	EUR		400		409,628
8.88%, 02/05/18a	EUR		350		400,882
Abengoa Greenfield SA
5.50%, 10/01/19a	EUR		250		258,133
Abengoa SA
8.50%, 03/31/16	EUR		200		234,153
Almirall SA
4.63%, 04/01/21 (Call 04/01/17)a	EUR		300		359,637
Banco de Sabadell SA
2.50%, 12/05/16	EUR		600		697,179

Security		Principal (000s)		Value
6.25%, 04/26/20	EUR		350	$	450,252
Bankia SA
3.50%, 01/17/19a	EUR		800		976,817
4.00%, 05/22/24 (Call 05/22/19)a,b	EUR		700		780,041
4.38%, 02/14/17	EUR		300		362,053
Bankinter SA
6.38%, 09/11/19	EUR		250		329,595
BPE Financiaciones SA
2.00%, 02/03/20a	EUR		400		455,251
2.50%, 02/01/17	EUR		500		578,284
2.88%, 05/19/16	EUR		600		693,158
CaixaBank SA
5.00%, 11/14/23 (Call 11/14/18)a,b	EUR		500		610,943
Campofrio Food Group SA
8.25%, 10/31/16 (Call 03/02/15)a	EUR		450		520,853
Ence Energia y Celulosa SA
7.25%, 02/15/20 (Call 02/15/16)a	EUR		200		241,511
Mapfre SA
5.92%, 07/24/37 (Call 07/24/17)b	EUR		550		669,679
NH Hotel Group SA
6.88%, 11/15/19 (Call 11/15/17)a	EUR		150		184,502
Obrascon Huarte Lain SA
4.75%, 03/15/22 (Call 03/15/18)a	EUR		250		272,605
7.63%, 03/15/20 (Call 03/15/16)a	EUR		250		297,629
8.75%, 03/15/18 (Call 03/15/15)a	EUR		350		410,756
					10,193,541
SWEDEN — 1.72%
Ovako AB
6.50%, 06/01/19 (Call 06/01/16)a	EUR		250		263,775
Perstorp Holding AB
9.00%, 05/15/17 (Call 05/15/15)a	EUR		200		230,317
SSAB AB
3.88%, 04/10/19a	EUR		350		396,503
Stena AB
6.13%, 02/01/17a	EUR		200		235,524
Unilabs Subholding AB
8.50%, 07/15/18 (Call 07/15/15)a	EUR		350		410,756
Verisure Holding AB
8.75%, 09/01/18 (Call 03/02/15)a	EUR		350		422,111
8.75%, 12/01/18 (Call 03/02/15)a	EUR		200		241,488
Volvo Treasury AB
4.20%, 06/10/75 (Call 06/10/20)a,b	EUR		650		751,830
4.85%, 03/10/78 (Call 03/10/23)a,b	EUR		500		591,731
					3,544,035
UNITED KINGDOM — 13.24%
Algeco Scotsman Global Finance PLC
9.00%, 10/15/18 (Call 10/15/15)a	EUR		200		227,947
Alpha Credit Group PLC
3.38%, 06/17/17a	EUR		400		322,747
Arqiva Broadcast Finance PLC
9.50%, 03/31/20 (Call 03/31/16)a	GBP		500		822,291
Bakkavor Finance 2 PLC
8.25%, 02/15/18 (Call 03/02/15)a	GBP		100		153,194
8.25%, 02/15/18 (Call 03/02/15)c	GBP		100		153,194
Boparan Finance PLC
4.38%, 07/15/21 (Call 07/15/17)a	EUR		250		243,322
5.25%, 07/15/19 (Call 07/15/16)a	GBP		150		198,251
5.50%, 07/15/21 (Call 07/15/17)a	GBP		200		256,825

20

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF

January 31, 2015

Security		Principal (000s)		Value
British Airways PLC
8.75%, 08/23/16	GBP		250	$	409,463
Co-Operative Bank PLC/United Kingdom
5.13%, 09/20/17	GBP		300		431,421
EC Finance PLC
5.13%, 07/15/21 (Call 01/15/17)a	EUR		244		285,667
Eco-Bat Finance PLC
7.75%, 02/15/17 (Call 03/02/15)a	EUR		200		215,534
Elli Finance UK PLC
8.75%, 06/15/19 (Call 06/15/15)c	GBP		200		305,637
8.75%, 06/15/19 (Call 06/15/15)a	GBP		100		152,818
Equiniti Newco 2 PLC
7.13%, 12/15/18 (Call 06/15/15)a	GBP		200		282,357
ERB Hellas PLC
4.25%, 06/26/18a	EUR		350		259,685
Gala Electric Casinos PLC
11.50%, 06/01/19 (Call 06/01/15)a	GBP		200		313,927
Gala Group Finance PLC
8.88%, 09/01/18 (Call 03/02/15)c	GBP		90		140,916
8.88%, 09/01/18 (Call 03/02/15)a	GBP		90		140,916
House of Fraser Funding PLC
8.88%, 08/15/18 (Call 08/15/15)a	GBP		100		159,201
Infinis PLC
7.00%, 02/15/19 (Call 02/15/16)c	GBP		200		318,403
International Personal Finance PLC
5.75%, 04/07/21a	EUR		150		162,663
Iron Mountain Europe PLC
6.13%, 09/15/22 (Call 09/15/17)a	GBP		400		621,787
Jaguar Land Rover Automotive PLC
5.00%, 02/15/22a	GBP		300		483,237
8.25%, 03/15/20 (Call 03/15/16)c	GBP		100		165,960
8.25%, 03/15/20 (Call 03/15/16)a	GBP		300		497,880
Kerling PLC
10.63%, 02/01/17 (Call 03/02/15)a	EUR		600		681,302
Keystone Financing PLC
9.50%, 10/15/19 (Call 10/15/16)a	GBP		200		303,384
Lowell Group Financing PLC
10.75%, 04/01/19 (Call 04/01/15)a	GBP		200		325,912
Matalan Finance PLC
6.88%, 06/01/19 (Call 05/30/16)c	GBP		200		295,874
6.88%, 06/01/19 (Call 05/30/16)a	GBP		100		147,937
NBG Finance PLC
4.38%, 04/30/19a	EUR		500		346,998
New Look Bondco I PLC
8.75%, 05/14/18 (Call 05/14/15)a	GBP		400		630,798
Odeon & UCI Finco PLC
9.00%, 08/01/18 (Call 02/09/15)a	GBP		200		294,373
9.00%, 08/01/18 (Call 02/09/15)c	GBP		100		147,186
OTE PLC
3.50%, 07/09/20a	EUR		550		548,497
4.63%, 05/20/16	EUR		400		440,660
7.88%, 02/07/18a	EUR		550		625,303
Piraeus Group Finance PLC
5.00%, 03/27/17a	EUR		300		238,667
PPC Finance PLC
5.50%, 05/01/19 (Call 05/01/16)a	EUR		300		242,053
Premier Foods Finance PLC
6.50%, 03/15/21 (Call 03/15/17)c	GBP		150		208,952
Priory Group No. 3 PLC
7.00%, 02/15/18 (Call 03/02/15)c	GBP		199		309,286
R&R Ice Cream PLC
5.50%, 05/15/20 (Call 05/15/16)a	GBP		250		365,150

Security		Principal (000s)		Value
Rexam PLC
6.75%, 06/29/67 (Call 06/29/17)a,b	EUR		500	$	568,570
Royal Bank of Scotland Group PLC
3.63%, 03/25/24 (Call 03/25/19)a,b	EUR		750		870,882
Royal Bank of Scotland PLC (The)
4.35%, 01/23/17	EUR		550		654,238
4.63%, 09/22/21 (Call 09/22/16)b	EUR		800		926,413
6.93%, 04/09/18	EUR		1,500		1,943,629
10.50%, 03/16/22 (Call 03/16/17)a,b	EUR		400		534,885
Stonegate Pub Co. Financing PLC
5.75%, 04/15/19 (Call 04/15/16)c	GBP		100		148,688
5.75%, 04/15/19 (Call 04/15/16)a	GBP		100		148,688
Stretford 79 PLC
6.25%, 07/15/21 (Call 07/15/17)a	GBP		250		278,790
Thomas Cook Finance PLC
6.75%, 06/15/21	EUR		300		340,651
7.75%, 06/15/20 (Call 06/15/16)a	EUR		400		469,435
Thomas Cook Group PLC
7.75%, 06/22/17	GBP		250		396,126
Titan Global Finance PLC
4.25%, 07/10/19a	EUR		225		234,986
Towergate Finance PLC
10.50%, 02/15/19 (Call 03/02/15)a	GBP		100		4,506
Travis Perkins PLC
4.38%, 09/15/21a	GBP		200		311,269
Twinkle Pizza PLC
6.63%, 08/01/21 (Call 08/01/17)a	GBP		350		540,121
Virgin Media Finance PLC
4.50%, 01/15/25 (Call 01/15/20)a	EUR		350		405,819
6.38%, 10/15/24 (Call 10/15/19)a	GBP		200		323,873
7.00%, 04/15/23 (Call 04/15/18)a	GBP		100		163,707
Virgin Media Secured Finance PLC
5.13%, 01/15/25 (Call 01/15/20)a	GBP		400		617,281
5.50%, 01/15/21	GBP		400		645,817
5.50%, 01/15/25 (Call 01/15/19)a	GBP		300		467,467
6.00%, 04/15/21 (Call 04/15/17)a	GBP		800		1,267,604
6.25%, 03/28/29 (Call 01/15/21)a	GBP		300		486,616
Vougeot Bidco PLC
7.88%, 07/15/20 (Call 07/15/16)a	GBP		200		316,150
William Hill PLC
7.13%, 11/11/16	GBP		200		321,437
					27,265,223
UNITED STATES — 1.42%
Allied Nevada Gold Corp.
8.75%, 06/01/19 (Call 06/01/16)c	CAD		275		80,248
Axalta Coating Systems U.S. Holdings Inc./Axalta Coating Systems Dutch Holding BV
5.75%, 02/01/21 (Call 02/01/16)a	EUR		200		237,561
Belden Inc.
5.50%, 04/15/23 (Call 04/15/18)a	EUR		400		474,829
Celanese U.S. Holdings LLC
3.25%, 10/15/19	EUR		200		233,307
Chesapeake Energy Corp.
6.25%, 01/15/17	EUR		200		236,999
Fiat Finance North America Inc.
5.63%, 06/12/17	EUR		450		548,874
Huntsman International LLC
5.13%, 04/15/21	EUR		300		355,496
Infor US Inc.
10.00%, 04/01/19 (Call 04/01/15)	EUR		250		304,682

21

Schedule of Investments (Unaudited) (Continued)

iSHARES^® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF

January 31, 2015

Security		Principal or Shares (000s)		Value
Iron Mountain Inc.
6.75%, 10/15/18 (Call 02/13/15)	EUR		100	$	112,845
Jarden Corp.
3.75%, 10/01/21a	EUR		200		236,410
PSPC Escrow Corp.
6.00%, 02/01/23 (Call 02/01/18)a	EUR		100		114,115
					2,935,366
TOTAL CORPORATE BONDS & NOTES
(Cost: $226,852,038)					198,651,016
SHORT-TERM INVESTMENTS — 0.02%
MONEY MARKET FUNDS — 0.02%
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%e,f			30		29,599
					29,599
TOTAL SHORT-TERM INVESTMENTS
(Cost: $29,599)					29,599
TOTAL INVESTMENTS IN SECURITIES — 96.45%
(Cost: $226,881,637)					198,680,615
Other Assets, Less Liabilities — 3.55%					7,315,738
NET ASSETS — 100.00%				$	205,996,353

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

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

^d  Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.

^e  Affiliated issuer. See Note 2.

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

See accompanying notes to schedules of investments.

22

Schedule of Investments (Unaudited)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

January 31, 2015

Security	Principal (000s)			Value
CORPORATE BONDS & NOTES — 97.19%
AUSTRALIA — 0.38%
FMG Resources August 2006 Pty Ltd.
6.88%, 02/01/18 (Call 03/02/15)a,b		USD	67	$	64,666
6.88%, 04/01/22 (Call 04/01/17)a		USD	100		79,500
8.25%, 11/01/19 (Call 11/01/15)a, b		USD	100		89,000
Origin Energy Finance Ltd.
4.00%, 09/16/74 (Call 09/16/19)c, d		EUR	100		104,241
					337,407
AUSTRIA — 0.19%
Heta Asset Resolution AG
4.25%, 10/31/16		EUR	100		67,881
4.38%, 01/24/17		EUR	150		101,151
					169,032
BELGIUM — 0.15%
Barry Callebaut Services NV
5.63%, 06/15/21c		EUR	100		135,843
					135,843
BERMUDA — 0.26%
Aircastle Ltd.
5.13%, 03/15/21		USD	25		25,313
5.50%, 02/15/22		USD	50		51,825
6.25%, 12/01/19		USD	50		54,125
6.75%, 04/15/17		USD	100		106,375
					237,638
CANADA — 3.57%
1011778 BC ULC/New Red Finance Inc.
6.00%, 04/01/22 (Call 10/01/17)a		USD	175		180,250
Air Canada
6.75%, 10/01/19 (Call 10/01/16)a		USD	50		52,875
7.63%, 10/01/19 (Call 10/01/16)a		CAD	50		41,701
7.75%, 04/15/21a,b		USD	25		26,000
Armtec Holdings Ltd.
8.88%, 09/22/17 (Call 03/02/15)		CAD	6		2,603
Athabasca Oil Corp.
7.50%, 11/19/17 (Call 03/02/15)c		CAD	50		32,336
Baytex Energy Corp.
6.63%, 07/19/22 (Call 07/19/17)		CAD	50		37,659
Bombardier Inc.
4.75%, 04/15/19a		USD	100		94,500
5.75%, 03/15/22a		USD	50		46,781
6.00%, 10/15/22 (Call 04/15/17)a,b		USD	75		70,641
6.13%, 05/15/21c		EUR	100		114,120
6.13%, 01/15/23a,b		USD	100		94,750
7.75%, 03/15/20a,b		USD	100		100,687
Brookfield Residential Properties Inc.
6.50%, 12/15/20 (Call 12/15/15)a		USD	100		103,000

Security	Principal (000s)			Value
Brookfield Residential Properties Inc./Brookfield Residential U.S. Corp.
6.13%, 07/01/22 (Call 07/01/17)a		USD	25	$	25,375
Canadian Energy Services & Technology Corp.
7.38%, 04/17/20 (Call 04/17/17)		CAD	50		37,856
Cascades Inc.
5.50%, 07/15/21 (Call 07/15/17)a		CAD	25		19,323
Centric Health Corp.
8.63%, 04/18/18 (Call 04/18/16)		CAD	20		12,777
Corus Entertainment Inc.
4.25%, 02/11/20c		CAD	50		37,856
DHX Media Ltd.
5.88%, 12/02/21 (Call 12/02/17)		CAD	25		19,618
First Quantum Minerals Ltd.
6.75%, 02/15/20 (Call 02/15/17)a,b		USD	85		72,250
7.00%, 02/15/21 (Call 02/15/18)a		USD	185		154,475
Gateway Casinos & Entertainment Ltd.
8.50%, 11/26/20 (Call 11/26/16)a		CAD	50		39,039
Great Canadian Gaming Corp.
6.63%, 07/25/22 (Call 07/25/17)a		CAD	50		40,913
Kodiak Oil & Gas Corp.
5.50%, 02/01/22 (Call 08/01/17)		USD	50		50,562
8.13%, 12/01/19 (Call 12/01/15)		USD	50		50,875
Lundin Mining Corp.
7.50%, 11/01/20 (Call 11/01/17)a		USD	25		24,750
7.88%, 11/01/22 (Call 11/01/18)a,b		USD	25		24,750
Mattamy Group Corp.
6.88%, 11/15/20 (Call 11/15/15)a		CAD	50		38,842
MEG Energy Corp.
6.38%, 01/30/23 (Call 07/30/17)a		USD	50		44,250
6.50%, 03/15/21 (Call 03/15/15)a		USD	100		90,750
7.00%, 03/31/24 (Call 09/30/18)a,b		USD	75		67,500
Newalta Corp.
Series 2
7.75%, 11/14/19 (Call 11/14/15)		CAD	22		17,915
NOVA Chemicals Corp.
5.00%, 05/01/25 (Call 01/31/25)a,b		USD	50		51,625
Novelis Inc.
8.75%, 12/15/20 (Call 12/15/15)		USD	150		161,250
NRL Energy Investments Ltd.
8.25%, 04/13/18 (Call 04/13/15)		CAD	25		15,971
Paramount Resources Ltd.
7.63%, 12/04/19 (Call 12/04/15)		CAD	50		37,265
8.25%, 12/13/17 (Call 03/02/15)		CAD	50		38,546
Postmedia Network Inc.
8.25%, 08/16/17 (Call 08/16/15)a		CAD	44		35,327
Precision Drilling Corp.
6.63%, 11/15/20 (Call 11/15/15)		USD	100		89,757
Quebecor Media Inc.
6.63%, 01/15/23a		CAD	50		41,011
7.38%, 01/15/21 (Call 01/15/16)		CAD	100		83,698
Russel Metals Inc.
6.00%, 04/19/22 (Call 04/19/17)a		CAD	50		39,532
Tervita Corp.
8.00%, 11/15/18 (Call 11/15/15)a		USD	50		44,063
9.00%, 11/15/18 (Call 11/15/15)a		CAD	25		16,957
Ultra Petroleum Corp.
6.13%, 10/01/24 (Call 10/01/19)a		USD	100		85,000
Valeant Pharmaceuticals International Inc.
5.50%, 03/01/23 (Call 03/01/18)a		USD	50		51,187
6.75%, 08/15/18 (Call 08/15/15)a		USD	150		159,750
7.50%, 07/15/21 (Call 07/15/16)a		USD	150		164,625
Videotron Ltd.

23

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

January 31, 2015

Security	Principal (000s)			Value
5.00%, 07/15/22		USD	100	$	102,750
5.38%, 06/15/24 (Call 03/15/24)a		USD	50		51,500
5.63%, 06/15/25 (Call 03/15/25)		CAD	25		19,798
Yellow Pages Digital & Media Solutions Ltd.
9.25%, 11/30/18 (Call 03/02/15)a		CAD	45		37,356
					3,194,547
CAYMAN ISLANDS — 0.61%
Brakes Capital
7.13%, 12/15/18 (Call 12/15/15)c		GBP	100		152,067
Offshore Group Investment Ltd.
7.13%, 04/01/23 (Call 04/01/18)		USD	75		47,999
7.50%, 11/01/19 (Call 11/01/15)		USD	100		64,645
UPCB Finance II Ltd.
6.38%, 07/01/20 (Call 07/01/15)c		EUR	100		118,205
UPCB Finance V Ltd.
7.25%, 11/15/21 (Call 11/15/16)a		USD	150		162,750
					545,666
FINLAND — 0.38%
Nokia OYJ
5.38%, 05/15/19b		USD	75		82,125
6.75%, 02/04/19c		EUR	100		135,595
Stora Enso OYJ
5.00%, 03/19/18c		EUR	100		124,036
					341,756
FRANCE — 4.13%
BPCE SA
12.50%, 08/29/49 (Call 09/30/19)a,d		USD	100		134,950
CGG SA
5.88%, 05/15/20 (Call 05/15/17)c		EUR	100		100,150
CMA CGM SA
8.75%, 12/15/18 (Call 12/15/15)c		EUR	100		120,180
Credit Agricole SA
6.64%, 05/29/49 (Call 05/31/17)a,b ,d		USD	100		105,500
Crown European Holdings SA
4.00%, 07/15/22 (Call 04/15/22)c		EUR	100		117,923
Faurecia
9.38%, 12/15/16c		EUR	100		128,643
Groupama SA
7.88%, 10/27/39 (Call 10/27/19)d		EUR	50		63,983
Holding Medi-Partenaires SAS
7.00%, 05/15/20 (Call 05/15/16)c		EUR	100		119,193
Italcementi Finance SA
6.63%, 03/19/20c,e		EUR	100		131,070
Labco SA
8.50%, 01/15/18 (Call 03/02/15)c		EUR	100		117,641
Lafarge SA
4.75%, 09/30/20c		EUR	100		134,494
5.38%, 06/26/17c		EUR	100		124,765
6.50%, 07/15/16		USD	100		106,003
6.63%, 11/29/18c		EUR	100		132,085
6.75%, 12/16/19c		EUR	100		137,857
Loxam SAS
4.88%, 07/23/21 (Call 07/23/17)c		EUR	100		112,281
Nexans SA
5.75%, 05/02/17		EUR	50		60,090

Security	Principal (000s)			Value
Numericable-SFR
4.88%, 05/15/19 (Call 05/15/16)a		USD	200	$	200,000
5.38%, 05/15/22 (Call 05/15/17)c		EUR	100		118,820
5.63%, 05/15/24 (Call 05/15/19)c		EUR	100		119,898
6.00%, 05/15/22 (Call 05/15/17)a		USD	200		204,000
6.25%, 05/15/24 (Call 05/15/19)a		USD	200		206,750
Peugeot SA
5.00%, 10/28/16		EUR	100		119,888
6.50%, 01/18/19c		EUR	100		131,648
6.88%, 03/30/16c		EUR	50		60,015
7.38%, 03/06/18c		EUR	100		130,887
Renault SA
3.13%, 03/05/21c		EUR	100		125,086
Rexel SA
5.13%, 06/15/20 (Call 06/15/16)c		EUR	100		121,449
SGD Group SAS
5.63%, 05/15/19 (Call 10/15/15)c		EUR	100		109,460
Societe Generale SA
5.92%, 12/31/49 (Call 04/05/17)a,d		USD	100		103,500
					3,698,209
GERMANY — 2.06%
Bayerische Landbank
5.75%, 10/23/17		EUR	100		125,756
Commerzbank AG
7.75%, 03/16/21		EUR	200		280,817
Deutsche Lufthansa AG
1.13%, 09/12/19c		EUR	100		113,447
Deutsche Raststaetten Gruppe IV GmbH
6.75%, 12/30/20 (Call 12/30/16)c		EUR	100		121,026
Heidelberger Druckmaschinen AG
9.25%, 04/15/18 (Call 03/02/15)c		EUR	50		57,551
Hornbach Baumarkt AG
3.88%, 02/15/20c		EUR	50		61,933
Norddeutsche Landesbank Girozentrale
6.00%, 06/29/20		EUR	50		65,241
Techem GmbH
6.13%, 10/01/19 (Call 10/01/15)c		EUR	100		120,180
ThyssenKrupp AG
3.13%, 10/25/19 (Call 07/25/19)c		EUR	100		118,850
4.00%, 08/27/18		EUR	75		91,053
4.38%, 02/28/17		EUR	100		119,704
Trionista TopCo GmbH
6.88%, 04/30/21 (Call 04/30/16)c		EUR	100		119,898
Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH
4.00%, 01/15/25 (Call 01/15/20)c		EUR	100		116,795
5.50%, 09/15/22 (Call 09/15/17)c		EUR	100		121,591
Unitymedia KabelBW GmbH
6.13%, 01/15/25 (Call 01/15/20)a		USD	200		212,000
					1,845,842
IRELAND — 1.51%
AerCap Ireland Capital Ltd./AerCap Global Aviation Trust
3.75%, 05/15/19a		USD	150		150,750
4.50%, 05/15/21a		USD	150		154,875
Allied Irish Banks PLC
2.75%, 04/16/19c		EUR	100		119,954
Ardagh Packaging Finance PLC
9.13%, 10/15/20 (Call 10/15/15)a		USD	200		212,000

24

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

January 31, 2015

Security		Principal (000s)		Value
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc.
4.25%, 01/15/22 (Call 06/30/17)c	EUR		100	$	111,999
Bank of Ireland
3.25%, 01/15/19c	EUR		100		121,698
4.25%, 06/11/24 (Call 06/11/19)c,d	EUR		100		114,820
eircom Finance Ltd.
9.25%, 05/15/20 (Call 05/15/16)c	EUR		100		123,001
Rottapharm Ltd.
6.13%, 11/15/19 (Call 11/15/15)c	EUR		100		119,334
Smurfit Kappa Acquisitions
4.13%, 01/30/20c	EUR		100		123,565
					1,351,996
ITALY — 4.32%
Astaldi SpA
7.13%, 12/01/20 (Call 12/01/16)c	EUR		100		118,487
Banca Monte dei Paschi di Siena SpA
3.63%, 04/01/19c	EUR		100		117,843
5.00%, 04/21/20c	EUR		100		113,974
Banca Popolare di Milano Scarl
7.13%, 03/01/21c	EUR		100		131,301
Banca Popolare di Vicenza
6.75%, 02/27/15c	EUR		100		113,165
Banco Popolare SC
2.38%, 01/22/18c	EUR		100		115,745
3.50%, 03/14/19c	EUR		100		120,399
3.75%, 01/28/16c	EUR		100		115,777
6.00%, 11/05/20c	EUR		50		62,666
Buzzi Unicem SpA
5.13%, 12/09/16c	EUR		50		59,792
Enel SpA
5.00%, 01/15/75 (Call 01/15/20)c,d	EUR		100		123,142
6.50%, 01/10/74 (Call 01/10/19)c,d	EUR		100		127,374
Intesa Sanpaolo SpA
6.63%, 09/13/23c	EUR		108		153,671
Manutencoop Facility Management SpA
8.50%, 08/01/20 (Call 08/01/16)c	EUR		100		94,790
Mediobanca SpA
5.75%, 04/18/23	EUR		100		130,268
TeamSystem Holding SpA
7.38%, 05/15/20 (Call 05/15/16)c	EUR		100		117,923
Telecom Italia SpA
4.00%, 01/21/20c	EUR		100		122,509
4.50%, 01/25/21c	EUR		100		125,898
4.75%, 05/25/18c	EUR		100		124,382
4.88%, 09/25/20c	EUR		100		127,895
5.25%, 02/10/22c	EUR		100		131,815
5.30%, 05/30/24a	USD		200		209,240
5.38%, 01/29/19c	EUR		100		127,906
6.13%, 12/14/18	EUR		100		130,832
6.38%, 06/24/19	GBP		50		83,943
7.00%, 01/20/17c	EUR		100		125,727
UniCredit SpA
3.95%, 02/01/16	EUR		150		173,076
5.75%, 10/28/25 (Call 10/28/20)c,d	EUR		100		123,351
6.70%, 06/05/18	EUR		50		63,616
6.95%, 10/31/22c	EUR		100		134,788
Unipol Gruppo Finanziario SpA
4.38%, 03/05/21c	EUR		100		126,143

Security		Principal (000s)		Value
Veneto Banca SCPA
4.00%, 01/20/17c	EUR		100	$	116,323
					3,863,761
JAPAN — 0.36%
SoftBank Corp.
4.50%, 04/15/20a	USD		200		200,000
4.63%, 04/15/20c	EUR		100		121,450
					321,450
JERSEY — 0.18%
AA Bond Co. Ltd.
9.50%, 07/31/43 (Call 01/31/16)c	GBP		100		164,458
					164,458
LUXEMBOURG — 7.44%
Altice Financing SA
6.50%, 01/15/22 (Call 12/15/16)a	USD		200		203,000
Altice SA
7.25%, 05/15/22 (Call 05/15/17)c	EUR		100		118,700
7.75%, 05/15/22 (Call 05/15/17)a,b	USD		225		231,750
ArcelorMittal
2.88%, 07/06/20c	EUR		100		112,982
5.00%, 02/25/17	USD		150		155,625
5.75%, 08/05/20	USD		100		103,250
5.88%, 11/17/17c	EUR		200		248,821
6.00%, 03/01/21b	USD		150		155,625
6.13%, 06/01/18	USD		100		106,250
6.75%, 02/25/22	USD		50		53,000
10.35%, 06/01/19	USD		150		179,438
Beverage Packaging Holdings Luxembourg II SA/Beverage Packaging Holdings II Issuer Inc.
5.63%, 12/15/16 (Call 12/15/15)a	USD		25		24,625
6.00%, 06/15/17 (Call 06/15/16)a	USD		50		49,219
CHC Helicopter SA
9.25%, 10/15/20 (Call 10/15/15)b	USD		90		84,600
Cirsa Funding Luxembourg SA
8.75%, 05/15/18 (Call 03/02/15)c	EUR		50		58,045
CNH Industrial Finance Europe SA
2.88%, 09/27/21c	EUR		100		115,361
6.25%, 03/09/18c	EUR		100		126,364
ConvaTec Healthcare E SA
7.38%, 12/15/17 (Call 03/02/15)c	EUR		100		116,941
Dufry Finance SCA
4.50%, 07/15/22 (Call 07/15/17)c	EUR		100		119,052
Fiat Chrysler Finance Europe
4.75%, 03/22/21c	EUR		100		124,353
4.75%, 07/15/22c	EUR		100		124,890
6.38%, 04/01/16c	EUR		100		118,835
6.63%, 03/15/18c	EUR		150		190,757
6.75%, 10/14/19c	EUR		100		132,862
7.00%, 03/23/17c	EUR		100		124,552
7.75%, 10/17/16c	EUR		100		123,968
Finmeccanica SA
4.50%, 01/19/21	EUR		100		127,682
FMC Finance VIII SA
5.25%, 07/31/19c	EUR		50		65,591
GCS Holdco Finance I SA
6.50%, 11/15/18 (Call 11/15/15)c	EUR		100		118,769

25

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

January 31, 2015

Security	Principal (000s)			Value
HeidelbergCement Finance Luxembourg SA
3.25%, 10/21/21c		EUR	150	$	187,675
8.00%, 01/31/17c		EUR	100		128,288
8.50%, 10/31/19c		EUR	100		149,431
INEOS Group Holdings SA
6.50%, 08/15/18 (Call 05/15/15)c		EUR	100		112,563
Intelsat Jackson Holdings SA
5.50%, 08/01/23 (Call 08/01/18)		USD	145		143,550
6.63%, 12/15/22 (Call 12/15/17)		USD	100		102,750
7.25%, 04/01/19 (Call 04/01/15)		USD	100		104,125
7.25%, 10/15/20 (Call 10/15/15)		USD	100		105,125
7.50%, 04/01/21 (Call 04/01/16)		USD	150		159,375
Intelsat Luxembourg SA
6.75%, 06/01/18 (Call 06/01/15)		USD	100		101,750
7.75%, 06/01/21 (Call 06/01/17)b		USD	100		99,500
8.13%, 06/01/23 (Call 06/01/18)		USD	100		101,375
Intralot Finance Luxembourg SA
9.75%, 08/15/18 (Call 08/15/16)c		EUR	100		113,973
KION Finance SA
6.75%, 02/15/20 (Call 02/15/16)c		EUR	100		121,873
Mallinckrodt International Finance SA/Mallinckrodt CB LLC
5.75%, 08/01/22 (Call 08/01/17)a,b		USD	50		51,375
Nielsen Co. Luxembourg Sarl (The)
5.50%, 10/01/21 (Call 10/01/16)a		USD	50		51,250
Pacific Drilling SA
5.38%, 06/01/20 (Call 06/01/16)a		USD	100		75,009
Sunrise Communications Holdings SA
8.50%, 12/31/18 (Call 03/02/15)c		EUR	100		117,415
Telecom Italia Capital SA
7.18%, 06/18/19		USD	100		114,723
Telenet Finance V Luxembourg SCA
6.25%, 08/15/22 (Call 08/15/17)c		EUR	100		122,155
Trinseo Materials Operating SCA/Trinseo Materials Finance Inc.
8.75%, 02/01/19 (Call 08/01/15)		USD	118		119,180
Wind Acquisition Finance SA
4.00%, 07/15/20 (Call 07/15/16)c		EUR	150		167,998
7.00%, 04/23/21 (Call 04/23/17)c		EUR	100		112,704
7.38%, 04/23/21 (Call 04/23/17)a		USD	400		386,000
					6,664,069
NETHERLANDS — 2.92%
Deutsche Annington Finance BV
4.63%, 04/08/74 (Call 04/08/19)c,d		EUR	100		120,180
EDP Finance BV
2.63%, 04/15/19c		EUR	100		118,247
4.13%, 01/20/21c		EUR	100		126,761
4.75%, 09/26/16c		EUR	100		119,580
4.90%, 10/01/19a		USD	250		264,700
5.75%, 09/21/17c		EUR	150		189,471
Fresenius Finance BV
4.00%, 02/01/24c		EUR	100		130,167
Grupo Isolux Corsan Finance BV
6.63%, 04/15/21 (Call 04/15/17)c		EUR	100		97,329
LGE HoldCo VI BV
7.13%, 05/15/24 (Call 05/15/19)c		EUR	100		127,515
NXP BV/NXP Funding LLC
3.75%, 06/01/18a		USD	200		201,000
OI European Group BV
6.75%, 09/15/20c		EUR	100		134,850
Phoenix PIB Dutch Finance BV
3.13%, 05/27/20c		EUR	100		116,005

Security	Principal (000s)			Value
Schaeffler Finance BV
3.25%, 05/15/19 (Call 05/15/16)c		EUR	100	$	114,679
4.75%, 05/15/21 (Call 05/15/16)a		USD	200		203,000
7.75%, 02/15/17c		EUR	100		125,963
Selecta Group BV
6.50%, 06/15/20 (Call 12/15/16)c		EUR	100		108,331
Sensata Technologies BV
4.88%, 10/15/23a		USD	25		25,125
5.63%, 11/01/24a		USD	50		52,875
6.50%, 05/15/19 (Call 05/15/15)a		USD	50		52,062
UPC Holding BV
6.75%, 03/15/23 (Call 03/15/18)c		EUR	100		123,283
8.38%, 08/15/20 (Call 02/13/15)c		EUR	50		60,936
					2,612,059
NORWAY — 0.17%
Lock AS
7.00%, 08/15/21 (Call 08/15/17)c		EUR	100		116,230
Norske Skogindustrier ASA
7.00%, 06/26/17c		EUR	50		33,854
					150,084
PORTUGAL — 0.26%
Novo Banco SA
1.00%, 11/28/23 (Call 11/28/18)c		EUR	100		9,028
2.63%, 05/08/17c		EUR	100		110,866
5.88%, 11/09/15c		EUR	100		115,061
					234,955
SINGAPORE — 0.12%
Flextronics International Ltd.
4.63%, 02/15/20		USD	100		104,000
					104,000
SPAIN — 1.24%
Abengoa Finance SAU
8.88%, 02/05/18c		EUR	100		114,538
Abengoa Greenfield SA
5.50%, 10/01/19c		EUR	100		103,253
Abengoa SA
8.50%, 03/31/16		EUR	50		58,538
Banco de Sabadell SA
6.25%, 04/26/20		EUR	50		64,322
Bankia SA
4.00%, 05/22/24 (Call 05/22/19)c,d		EUR	100		111,434
4.38%, 02/14/17		EUR	100		120,684
Bankinter SA
6.38%, 09/11/19		EUR	50		65,919
BBVA International Preferred SAU
5.92%, 04/29/49 (Call 04/18/17)d		USD	50		51,250
BPE Financiaciones SA
2.88%, 05/19/16		EUR	100		115,526
CaixaBank SA
5.00%, 11/14/23 (Call 11/14/18)c,d		EUR	100		122,189
Mapfre SA
5.92%, 07/24/37 (Call 07/24/17)d		EUR	50		60,880

26

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

January 31, 2015

Security	Principal (000s)			Value
Obrascon Huarte Lain SA
7.63%, 03/15/20 (Call 03/15/16)c		EUR	100	$	119,052
					1,107,585
SWEDEN — 0.26%
Verisure Holding AB
8.75%, 09/01/18 (Call 03/02/15)c		EUR	100		120,603
Volvo Treasury AB
4.20%, 06/10/75 (Call 06/10/20)c,d		EUR	100		115,666
					236,269
UNITED KINGDOM — 5.47%
Algeco Scotsman Global Finance PLC
8.50%, 10/15/18 (Call 10/15/15)a,b		USD	200		196,000
Arqiva Broadcast Finance PLC
9.50%, 03/31/20 (Call 03/31/16)c		GBP	100		164,458
Boparan Finance PLC
4.38%, 07/15/21 (Call 07/15/17)c		EUR	100		97,329
British Airways PLC
8.75%, 08/23/16		GBP	50		81,893
Co-Operative Bank PLC/United Kingdom
5.13%, 09/20/17		GBP	50		71,903
EC Finance PLC
5.13%, 07/15/21 (Call 01/15/17)c		EUR	100		117,077
Eco-Bat Finance PLC
7.75%, 02/15/17 (Call 03/02/15)c		EUR	100		107,767
ERB Hellas PLC
4.25%, 06/26/18c		EUR	100		74,196
Gala Group Finance PLC
8.88%, 09/01/18 (Call 03/02/15)c		GBP	90		140,916
Ineos Finance PLC
7.50%, 05/01/20 (Call 05/01/15)a,b		USD	200		211,500
Inmarsat Finance PLC
4.88%, 05/15/22 (Call 05/15/17)a		USD	100		99,875
Iron Mountain Europe PLC
6.13%, 09/15/22 (Call 09/15/17)c		GBP	100		155,447
Jaguar Land Rover Automotive PLC
8.13%, 05/15/21 (Call 05/15/16)a		USD	150		165,000
Kerling PLC
10.63%, 02/01/17 (Call 03/02/15)c		EUR	50		56,775
Matalan Finance PLC
6.88%, 06/01/19 (Call 05/30/16)a		GBP	100		147,937
New Look Bondco I PLC
8.75%, 05/14/18 (Call 05/14/15)a		GBP	100		157,700
OTE PLC
3.50%, 07/09/20c		EUR	100		99,727
4.63%, 05/20/16		EUR	100		110,165
Paragon Offshore PLC
6.75%, 07/15/22 (Call 07/15/18)a		USD	25		12,188
7.25%, 08/15/24 (Call 08/15/19)a		USD	50		24,500
Piraeus Group Finance PLC
5.00%, 03/27/17c		EUR	100		79,556
PPC Finance PLC
5.50%, 05/01/19 (Call 05/01/16)c		EUR	100		80,684
Priory Group No. 3 PLC
7.00%, 02/15/18 (Call 03/02/15)a		GBP	61		95,165
Rexam PLC
6.75%, 06/29/67 (Call 06/29/17)c,d		EUR	50		56,857
Royal Bank of Scotland Group PLC
3.63%, 03/25/24 (Call 03/25/19)c,d		EUR	100		116,118

Security	Principal (000s)			Value
5.13%, 05/28/24		USD	200	$	211,693
6.00%, 12/19/23b		USD	150		167,961
6.10%, 06/10/23		USD	75		83,956
6.13%, 12/15/22		USD	200		225,734
Royal Bank of Scotland PLC (The)
4.35%, 01/23/17		EUR	100		118,952
4.63%, 09/22/21 (Call 09/22/16)d		EUR	100		115,802
6.93%, 04/09/18		EUR	100		129,575
Thomas Cook Finance PLC
7.75%, 06/15/20 (Call 06/15/16)c		EUR	100		117,359
Tullow Oil PLC
6.00%, 11/01/20 (Call 11/01/16)a		USD	200		168,000
Twinkle Pizza PLC
6.63%, 08/01/21 (Call 08/01/17)c		GBP	100		154,320
Virgin Media Secured Finance PLC
5.13%, 01/15/25 (Call 01/15/20)c		GBP	100		154,320
5.38%, 04/15/21 (Call 04/15/17)a		USD	200		208,000
5.50%, 01/15/21		GBP	100		161,454
5.50%, 01/15/25 (Call 01/15/19)c		GBP	100		155,822
					4,893,681
UNITED STATES — 61.21%
Access Midstream Partners LP/ACMP Finance Corp.
4.88%, 05/15/23 (Call 12/15/17)		USD	100		102,500
4.88%, 03/15/24 (Call 03/15/19)		USD	150		153,750
6.13%, 07/15/22 (Call 01/15/17)		USD	50		53,239
Acosta Inc.
7.75%, 10/01/22 (Call 10/01/17)a		USD	50		50,500
Activision Blizzard Inc.
5.63%, 09/15/21 (Call 09/15/16)a		USD	125		133,437
6.13%, 09/15/23 (Call 09/15/18)a		USD	100		109,000
ADT Corp. (The)
2.25%, 07/15/17		USD	50		48,625
3.50%, 07/15/22		USD	75		67,875
4.13%, 04/15/19b		USD	25		25,094
4.13%, 06/15/23b		USD	50		47,000
6.25%, 10/15/21b		USD	100		106,984
Advanced Micro Devices Inc.
6.75%, 03/01/19		USD	50		47,750
7.00%, 07/01/24 (Call 07/01/19)		USD	25		21,875
7.50%, 08/15/22		USD	50		47,188
7.75%, 08/01/20 (Call 08/01/15)b		USD	50		47,750
AECOM Technology Corp.
5.75%, 10/15/22 (Call 10/15/17)a		USD	25		26,156
5.88%, 10/15/24 (Call 07/15/24)a		USD	100		104,375
AES Corp./VA
4.88%, 05/15/23 (Call 05/15/18)		USD	150		145,875
7.38%, 07/01/21 (Call 06/01/21)		USD	100		111,250
Affinion Group Inc.
7.88%, 12/15/18 (Call 03/02/15)b		USD	50		33,125
AK Steel Corp.
7.63%, 05/15/20 (Call 05/15/15)		USD	40		34,400
7.63%, 10/01/21 (Call 10/01/17)		USD	50		42,250
Albertsons Holdings LLC/Saturn Acquisition Merger Sub Inc.
7.75%, 10/15/22 (Call 10/15/17)a,b		USD	100		103,250
Alcatel-Lucent USA Inc.
6.75%, 11/15/20 (Call 11/15/16)a,b		USD	200		208,500
Alcoa Inc.
5.13%, 10/01/24 (Call 07/01/24)b		USD	150		163,875
5.40%, 04/15/21 (Call 01/15/21)b		USD	125		138,110
6.15%, 08/15/20		USD	200		228,000

27

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

January 31, 2015

Security		Principal (000s)		Value
6.75%, 07/15/18	USD		50	$	56,750
Alere Inc.
7.25%, 07/01/18 (Call 12/15/15)	USD		50		52,625
8.63%, 10/01/18 (Call 03/02/15)	USD		50		51,875
Aleris International Inc.
7.63%, 02/15/18 (Call 03/02/15)	USD		50		48,875
7.88%, 11/01/20 (Call 11/01/15)	USD		50		48,750
Ally Financial Inc.
3.50%, 07/18/16	USD		150		153,937
3.50%, 01/27/19	USD		100		98,500
4.75%, 09/10/18	USD		100		103,750
5.13%, 09/30/24b	USD		75		77,250
5.50%, 02/15/17	USD		100		104,875
6.25%, 12/01/17	USD		100		107,766
7.50%, 09/15/20	USD		100		118,678
8.00%, 03/15/20	USD		150		178,687
Alpha Natural Resources Inc.
6.25%, 06/01/21 (Call 06/01/16)b	USD		100		25,000
7.50%, 08/01/20 (Call 08/01/16)a,b	USD		50		23,000
9.75%, 04/15/18	USD		50		17,750
Altegrity Inc.
9.50%, 07/01/19 (Call 07/01/17)a,f	USD		25		25,063
AMC Networks Inc.
4.75%, 12/15/22 (Call 12/15/17)	USD		100		100,000
American Axle & Manufacturing Inc.
6.25%, 03/15/21 (Call 03/15/16)	USD		50		52,875
6.63%, 10/15/22 (Call 10/15/17)	USD		50		53,375
American Energy-Permian Basin LLC/AEPB Finance Corp.
7.13%, 11/01/20 (Call 01/31/17)a,b	USD		100		72,000
AmeriGas Finance LLC/AmeriGas Finance Corp.
6.75%, 05/20/20 (Call 05/20/16)	USD		50		52,250
7.00%, 05/20/22 (Call 05/20/17)	USD		100		105,000
Amkor Technology Inc.
6.38%, 10/01/22 (Call 10/01/16)b	USD		50		49,500
6.63%, 06/01/21 (Call 06/01/15)b	USD		50		50,500
Amsurg Corp.
5.63%, 07/15/22 (Call 07/15/17)a	USD		100		103,250
Antero Resources Corp.
5.13%, 12/01/22 (Call 06/01/17)a	USD		50		47,500
Antero Resources Finance Corp.
5.38%, 11/01/21 (Call 11/01/16)	USD		100		97,250
6.00%, 12/01/20 (Call 12/01/15)	USD		50		49,500
APX Group Inc.
6.38%, 12/01/19 (Call 12/01/15)	USD		50		47,750
8.75%, 12/01/20 (Call 12/01/15)b	USD		75		60,750
Aramark Services Inc.
5.75%, 03/15/20 (Call 03/15/15)	USD		100		103,750
Arch Coal Inc.
7.25%, 06/15/21 (Call 06/15/16)b	USD		150		35,250
Ashland Inc.
3.88%, 04/15/18 (Call 03/15/18)	USD		100		101,500
4.75%, 08/15/22 (Call 05/15/22)	USD		100		101,750
Ashtead Capital Inc.
5.63%, 10/01/24 (Call 10/01/19)a,b	USD		200		207,500
Atlas Pipeline Partners LP/Atlas Pipeline Finance Corp.
4.75%, 11/15/21 (Call 05/15/16)	USD		50		50,140
6.63%, 10/01/20 (Call 10/01/16)	USD		100		100,814
Audatex North America Inc.
6.00%, 06/15/21 (Call 06/15/17)a	USD		125		130,000
6.13%, 11/01/23 (Call 11/01/18)a	USD		40		41,700
Avaya Inc.
7.00%, 04/01/19 (Call 04/01/15)a	USD		100		97,125

Security		Principal (000s)		Value
10.50%, 03/01/21 (Call 03/01/17)a,b	USD		100	$	82,000
Avis Budget Car Rental LLC/Avis Budget Finance Inc.
5.13%, 06/01/22 (Call 06/01/17)a	USD		25		25,188
Avon Products Inc.
5.00%, 03/15/23b	USD		50		43,625
Axiall Corp.
4.88%, 05/15/23 (Call 05/15/18)b	USD		50		48,875
Ball Corp.
4.00%, 11/15/23	USD		100		98,875
5.00%, 03/15/22	USD		50		52,813
5.75%, 05/15/21 (Call 11/15/15)	USD		100		105,187
Belden Inc.
5.50%, 04/15/23 (Call 04/15/18)c	EUR		100		118,707
Berry Petroleum Co. LLC
6.38%, 09/15/22 (Call 03/15/17)	USD		50		34,755
Berry Plastics Corp.
5.50%, 05/15/22 (Call 05/15/17)b	USD		50		51,000
Best Buy Co. Inc.
5.50%, 03/15/21 (Call 12/15/20)	USD		100		103,500
Biomet Inc.
6.50%, 08/01/20 (Call 08/01/15)	USD		125		133,563
6.50%, 10/01/20 (Call 10/01/15)	USD		50		52,990
BMC Software Finance Inc.
8.13%, 07/15/21 (Call 07/15/16)a	USD		125		109,062
Boyd Gaming Corp.
9.13%, 12/01/18 (Call 03/02/15)	USD		25		26,125
BreitBurn Energy Partners LP/BreitBurn Finance Corp.
7.88%, 04/15/22 (Call 01/15/17)	USD		75		47,892
Building Materials Corp. of America
5.38%, 11/15/24 (Call 11/15/19)a	USD		75		75,750
6.75%, 05/01/21 (Call 05/01/16)a,b	USD		100		107,000
Cablevision Systems Corp.
5.88%, 09/15/22	USD		50		50,625
7.75%, 04/15/18	USD		50		54,750
8.00%, 04/15/20	USD		75		84,562
8.63%, 09/15/17	USD		50		55,500
Caesars Entertainment Operating Co. Inc.
9.00%, 02/15/20 (Call 02/15/16)f	USD		150		112,156
11.25%, 06/01/17 (Call 03/02/15)f	USD		150		112,516
Caesars Entertainment Resort Properties LLC/Caesars Entertainment Resort Properties Finance Inc.
8.00%, 10/01/20 (Call 10/01/16)a	USD		50		49,750
11.00%, 10/01/21 (Call 10/01/16)a,b	USD		125		111,562
California Resources Corp.
5.50%, 09/15/21 (Call 06/15/21)a,b	USD		200		168,000
6.00%, 11/15/24 (Call 08/15/24)a	USD		200		163,250
Calpine Corp.
5.38%, 01/15/23 (Call 10/15/18)b	USD		200		203,000
5.75%, 01/15/25 (Call 10/15/19)b	USD		100		102,000
5.88%, 01/15/24 (Call 11/01/18)a	USD		25		26,750
6.00%, 01/15/22 (Call 11/01/16)a	USD		25		26,938
7.88%, 01/15/23 (Call 01/15/17)a	USD		100		112,000
Calumet Specialty Products Partners LP/Calumet Finance Corp.
6.50%, 04/15/21 (Call 04/15/17)a	USD		75		64,125
Case New Holland Industrial Inc.
7.88%, 12/01/17	USD		100		110,685
CBRE Services Inc.
5.00%, 03/15/23 (Call 03/15/18)	USD		50		52,625
CCO Holdings LLC/CCO Holdings Capital Corp.
5.13%, 02/15/23 (Call 02/15/18)	USD		100		99,125
5.25%, 09/30/22 (Call 09/30/17)	USD		100		100,375
5.75%, 09/01/23 (Call 03/01/18)	USD		50		50,750
5.75%, 01/15/24 (Call 07/15/18)	USD		50		50,875

28

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

January 31, 2015

Security	Principal (000s)			Value
6.50%, 04/30/21 (Call 04/30/15)		USD	150	$	158,040
6.63%, 01/31/22 (Call 01/31/17)		USD	100		106,000
7.00%, 01/15/19 (Call 03/02/15)		USD	100		103,876
7.38%, 06/01/20 (Call 12/01/15)		USD	150		160,125
CCOH Safari LLC
5.50%, 12/01/22 (Call 12/01/17)		USD	100		101,125
5.75%, 12/01/24 (Call 12/01/19)b		USD	150		152,400
CDW LLC/CDW Finance Corp.
5.50%, 12/01/24 (Call 06/01/24)		USD	50		50,375
6.00%, 08/15/22 (Call 08/15/17)		USD	50		52,500
8.50%, 04/01/19 (Call 04/01/15)		USD	40		42,060
CenturyLink Inc.
Series V
5.63%, 04/01/20		USD	100		105,600
5.80%, 03/15/22		USD	100		105,750
6.00%, 04/01/17		USD	100		106,750
6.45%, 06/15/21		USD	100		108,940
Series W
6.75%, 12/01/23b		USD	50		55,812
Cenveo Corp.
6.00%, 08/01/19 (Call 02/01/19)a		USD	50		47,625
Cequel Communications Holdings I LLC/Cequel Capital Corp.
5.13%, 12/15/21 (Call 06/15/16)a,b		USD	125		122,812
6.38%, 09/15/20 (Call 09/15/15)a		USD	100		104,620
Chaparral Energy Inc.
7.63%, 11/15/22 (Call 05/15/17)		USD	75		43,125
Chesapeake Energy Corp.
3.25%, 03/15/16 (Call 03/02/15)		USD	50		49,875
4.88%, 04/15/22 (Call 04/15/17)		USD	200		199,500
5.38%, 06/15/21 (Call 06/15/16)b		USD	50		50,284
5.75%, 03/15/23		USD	100		104,000
6.13%, 02/15/21b		USD	100		106,250
6.25%, 01/15/17		EUR	50		59,250
6.63%, 08/15/20b		USD	100		107,505
Chrysler Group LLC/CG Co-Issuer Inc.
8.00%, 06/15/19 (Call 06/15/15)		USD	200		211,000
8.25%, 06/15/21 (Call 06/15/16)		USD	250		277,500
CHS/Community Health Systems Inc.
5.13%, 08/15/18 (Call 08/15/15)		USD	150		155,062
5.13%, 08/01/21 (Call 02/01/17)		USD	75		77,719
6.88%, 02/01/22 (Call 02/01/18)		USD	225		239,344
7.13%, 07/15/20 (Call 07/15/16)		USD	100		106,500
8.00%, 11/15/19 (Call 11/15/15)		USD	150		160,312
Cimarex Energy Co.
4.38%, 06/01/24 (Call 03/01/24)		USD	100		95,168
Cincinnati Bell Inc.
8.38%, 10/15/20 (Call 10/15/15)		USD	81		85,607
Cinemark USA Inc.
5.13%, 12/15/22 (Call 12/15/17)		USD	50		50,000
CIT Group Inc.
3.88%, 02/19/19		USD	100		99,750
4.25%, 08/15/17		USD	150		152,250
5.00%, 05/15/17		USD	100		103,187
5.00%, 08/15/22		USD	100		105,250
5.00%, 08/01/23		USD	50		52,625
5.25%, 03/15/18		USD	50		51,975
5.38%, 05/15/20		USD	75		79,687
5.50%, 02/15/19a		USD	150		158,625
6.63%, 04/01/18a		USD	100		108,000
Claire’s Stores Inc.
8.88%, 03/15/19 (Call 03/15/15)b		USD	25		17,813
9.00%, 03/15/19 (Call 03/15/15)a		USD	100		93,500

Security	Principal (000s)			Value
Clean Harbors Inc.
5.13%, 06/01/21 (Call 12/01/16)		USD	50	$	50,000
5.25%, 08/01/20 (Call 08/01/16)		USD	100		100,500
Clear Channel Worldwide Holdings Inc.
6.50%, 11/15/22 (Call 11/15/17)		USD	200		206,500
Series B
7.63%, 03/15/20 (Call 03/15/15)b		USD	175		185,062
Cliffs Natural Resources Inc.
4.88%, 04/01/21 (Call 01/01/21)b		USD	100		70,000
CNH Industrial Capital LLC
3.25%, 02/01/17b		USD	100		99,000
3.63%, 04/15/18		USD	100		98,500
Commercial Metals Co.
7.35%, 08/15/18		USD	100		108,250
CommScope Inc.
5.00%, 06/15/21 (Call 06/15/17)a		USD	75		72,562
5.50%, 06/15/24 (Call 06/15/19)a		USD	50		48,250
Concho Resources Inc.
5.50%, 10/01/22 (Call 10/01/17)		USD	50		49,875
5.50%, 04/01/23 (Call 10/01/17)b		USD	100		100,500
6.50%, 01/15/22 (Call 01/15/17)		USD	100		104,058
CONSOL Energy Inc.
5.88%, 04/15/22 (Call 04/15/17)		USD	150		129,750
8.25%, 04/01/20 (Call 04/01/15)		USD	100		100,631
Constellation Brands Inc.
4.75%, 11/15/24		USD	50		52,313
6.00%, 05/01/22		USD	150		170,250
7.25%, 05/15/17		USD	100		111,000
Cott Beverages Inc.
6.75%, 01/01/20 (Call 01/01/17)a		USD	50		49,500
Covanta Holding Corp.
5.88%, 03/01/24 (Call 03/01/19)		USD	75		77,250
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.
6.13%, 03/01/22 (Call 11/01/16)		USD	75		73,130
Crimson Merger Sub Inc.
6.63%, 05/15/22 (Call 05/15/17)a		USD	100		87,000
Crown Americas LLC/Crown Americas Capital Corp. IV
4.50%, 01/15/23		USD	100		100,250
Crown Castle International Corp.
4.88%, 04/15/22		USD	50		50,375
5.25%, 01/15/23		USD	150		154,125
CSC Holdings LLC
5.25%, 06/01/24a		USD	50		50,188
6.75%, 11/15/21		USD	100		112,250
Dana Holding Corp.
5.38%, 09/15/21 (Call 09/15/16)		USD	50		51,375
DaVita HealthCare Partners Inc.
5.13%, 07/15/24 (Call 07/15/19)		USD	175		180,196
5.75%, 08/15/22 (Call 08/15/17)		USD	50		53,313
6.63%, 11/01/20 (Call 03/02/15)		USD	100		105,150
DCP Midstream LLC
5.85%, 05/21/43 (Call 05/21/23)a,d		USD	50		45,125
Dell Inc.
5.65%, 04/15/18		USD	50		53,250
5.88%, 06/15/19		USD	100		107,000
Denali Borrower LLC/Denali Finance Corp.
5.63%, 10/15/20 (Call 10/15/16)a		USD	125		133,281
Denbury Resources Inc.
4.63%, 07/15/23 (Call 01/15/18)		USD	100		85,658
5.50%, 05/01/22 (Call 05/01/17)		USD	100		89,000
DISH DBS Corp.
4.25%, 04/01/18b		USD	100		102,000

29

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

January 31, 2015

Security	Principal (000s)			Value
4.63%, 07/15/17		USD	100	$	103,500
5.00%, 03/15/23		USD	125		123,125
5.13%, 05/01/20		USD	100		102,000
5.88%, 07/15/22		USD	150		155,250
5.88%, 11/15/24		USD	150		153,750
6.75%, 06/01/21		USD	150		162,750
7.13%, 02/01/16		USD	100		105,000
7.88%, 09/01/19		USD	100		113,750
DJO Finance LLC/DJO Finance Corp.
9.88%, 04/15/18 (Call 04/15/15)		USD	50		50,125
DPL Inc.
6.50%, 10/15/16 (Call 09/15/16)		USD	27		28,350
7.25%, 10/15/21 (Call 07/15/21)		USD	100		102,503
DR Horton Inc.
3.63%, 02/15/18 (Call 11/15/17)b		USD	100		101,250
Dynegy Finance I Inc./Dynegy Finance II Inc.
6.75%, 11/01/19 (Call 05/01/17)a		USD	250		256,875
7.38%, 11/01/22 (Call 11/01/18)a		USD	100		103,500
7.63%, 11/01/24 (Call 11/01/19)a,b		USD	150		154,500
E*TRADE Financial Corp.
5.38%, 11/15/22 (Call 11/15/17)		USD	30		31,538
Eagle Spinco Inc.
4.63%, 02/15/21 (Call 02/15/18)		USD	50		49,375
Endo Finance LLC
5.75%, 01/15/22 (Call 01/15/17)a		USD	75		75,937
Endo Finance LLC/Endo Finco Inc.
5.38%, 01/15/23 (Call 07/15/17)a		USD	25		24,813
7.00%, 07/15/19 (Call 07/15/15)a		USD	100		104,750
Endo Finance LLC/Endo Ltd./Endo Finco Inc.
6.00%, 02/01/25 (Call 02/01/20)a		USD	200		203,750
Energy Transfer Equity LP
5.88%, 01/15/24		USD	75		77,827
7.50%, 10/15/20		USD	100		111,270
Energy XXI Gulf Coast Inc.
6.88%, 03/15/24 (Call 03/15/19)a		USD	25		11,078
7.50%, 12/15/21 (Call 12/15/16)		USD	55		25,025
9.25%, 12/15/17 (Call 03/02/15)b		USD	100		55,250
EP Energy LLC/Everest Acquisition Finance Inc.
6.88%, 05/01/19 (Call 05/01/15)		USD	100		101,318
9.38%, 05/01/20 (Call 05/01/16)		USD	150		150,558
Equinix Inc.
4.88%, 04/01/20 (Call 04/01/17)b		USD	25		25,563
5.38%, 01/01/22 (Call 01/01/18)		USD	30		31,125
5.38%, 04/01/23 (Call 04/01/18)		USD	100		103,000
5.75%, 01/01/25 (Call 01/01/20)		USD	50		52,000
EXCO Resources Inc.
8.50%, 04/15/22 (Call 04/15/17)		USD	75		45,813
Felcor Lodging LP
5.63%, 03/01/23 (Call 03/01/18)		USD	50		50,625
Ferrellgas LP/Ferrellgas Finance Corp.
6.75%, 01/15/22 (Call 11/15/16)		USD	75		72,985
Fifth Third Bancorp
5.10%, 12/29/49 (Call 06/30/23)d		USD	50		46,625
First Data Corp.
6.75%, 11/01/20 (Call 11/01/15)a		USD	97		103,547
7.38%, 06/15/19 (Call 06/15/15)a		USD	150		157,687
8.25%, 01/15/21 (Call 01/15/16)a		USD	150		160,125
8.88%, 08/15/20 (Call 08/15/15)a		USD	50		53,625
10.63%, 06/15/21 (Call 04/15/16)		USD	33		37,414
11.25%, 01/15/21 (Call 01/15/16)		USD	33		38,115
11.75%, 08/15/21 (Call 05/15/16)		USD	131		150,994
12.63%, 01/15/21 (Call 01/15/16)		USD	250		297,500

Security	Principal (000s)			Value
FirstEnergy Corp.
Series A
2.75%, 03/15/18 (Call 02/15/18)		USD	100	$	102,031
Series B
4.25%, 03/15/23 (Call 12/15/22)		USD	50		52,873
Florida East Coast Holdings Corp.
6.75%, 05/01/19 (Call 05/01/16)a		USD	100		99,250
Freescale Semiconductor Inc.
6.00%, 01/15/22 (Call 11/15/16)a		USD	100		106,000
10.75%, 08/01/20 (Call 08/01/15)		USD	50		54,625
Fresenius Medical Care U.S. Finance II Inc.
5.63%, 07/31/19a		USD	200		218,000
Fresenius Medical Care U.S. Finance Inc.
5.75%, 02/15/21a		USD	100		110,750
Frontier Communications Corp.
6.25%, 09/15/21 (Call 06/15/21)		USD	100		103,000
7.13%, 01/15/23		USD	100		104,750
7.63%, 04/15/24		USD	100		106,125
8.25%, 04/15/17		USD	100		111,000
8.50%, 04/15/20		USD	100		112,250
8.75%, 04/15/22		USD	50		56,750
Gannett Co. Inc.
5.13%, 10/15/19 (Call 10/15/16)		USD	50		51,875
6.38%, 10/15/23 (Call 10/15/18)		USD	100		106,600
Gates Global LLC/Gates Global Co.
6.00%, 07/15/22 (Call 07/15/17)a		USD	75		70,312
General Motors Co.
3.50%, 10/02/18		USD	75		77,250
4.00%, 04/01/25		USD	50		51,440
General Motors Financial Co. Inc.
2.75%, 05/15/16		USD	100		101,170
3.25%, 05/15/18		USD	100		102,000
4.00%, 01/15/25 (Call 10/15/24)		USD	75		76,159
4.25%, 05/15/23		USD	205		212,327
4.38%, 09/25/21		USD	100		106,125
4.75%, 08/15/17		USD	250		263,125
GenOn Energy Inc.
9.50%, 10/15/18		USD	100		99,741
9.88%, 10/15/20 (Call 10/15/15)		USD	50		48,510
GLP Capital LP/GLP Financing II Inc.
4.88%, 11/01/20 (Call 08/01/20)		USD	25		25,688
5.38%, 11/01/23 (Call 08/01/23)		USD	100		104,000
Goodyear Tire & Rubber Co. (The)
6.50%, 03/01/21 (Call 03/01/16)		USD	100		107,250
8.25%, 08/15/20 (Call 08/15/15)		USD	100		106,750
H.J. Heinz Co.
4.25%, 10/15/20 (Call 04/15/15)		USD	250		252,500
4.88%, 02/15/25 (Call 02/15/20)a		USD	150		150,600
Halcon Resources Corp.
8.88%, 05/15/21 (Call 11/15/16)		USD	125		82,177
9.25%, 02/15/22 (Call 08/15/17)		USD	50		32,483
9.75%, 07/15/20 (Call 07/15/16)		USD	50		33,240
Hanesbrands Inc.
6.38%, 12/15/20 (Call 12/15/15)		USD	100		106,000
Harbinger Group Inc.
7.75%, 01/15/22 (Call 01/15/17)		USD	50		50,125
7.88%, 07/15/19 (Call 01/15/16)		USD	50		52,875
Harland Clarke Holdings Corp.
9.25%, 03/01/21 (Call 03/01/17)a		USD	50		46,875
HCA Holdings Inc.
6.25%, 02/15/21		USD	75		81,469
7.75%, 05/15/21 (Call 11/15/15)		USD	150		160,687

30

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

January 31, 2015

Security	Principal (000s)			Value
HCA Inc.
3.75%, 03/15/19		USD	150	$	151,687
4.75%, 05/01/23		USD	100		105,000
5.00%, 03/15/24		USD	100		107,000
5.25%, 04/15/25b		USD	150		163,500
5.38%, 02/01/25		USD	75		77,437
5.88%, 03/15/22		USD	100		111,875
5.88%, 05/01/23		USD	100		109,000
6.50%, 02/15/16		USD	100		105,125
6.50%, 02/15/20		USD	300		338,062
7.50%, 02/15/22		USD	150		176,175
HD Supply Inc.
5.25%, 12/15/21 (Call 12/15/17)a		USD	50		51,750
7.50%, 07/15/20 (Call 10/15/16)		USD	150		157,500
11.00%, 04/15/20 (Call 04/15/16)b		USD	100		114,750
11.50%, 07/15/20 (Call 10/15/16)		USD	50		57,375
Hercules Offshore Inc.
8.75%, 07/15/21 (Call 07/15/17)a		USD	50		17,707
Hertz Corp. (The)
5.88%, 10/15/20 (Call 10/15/15)		USD	100		101,500
6.25%, 10/15/22 (Call 10/15/17)		USD	50		51,000
6.75%, 04/15/19 (Call 04/15/15)		USD	150		155,625
Hexion U.S. Finance Corp.
6.63%, 04/15/20 (Call 04/15/15)		USD	125		118,437
Hexion U.S. Finance Corp./Hexion Nova Scotia Finance ULC
9.00%, 11/15/20 (Call 11/15/15)b		USD	100		67,000
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp.
5.63%, 10/15/21 (Call 10/15/16)		USD	100		105,500
Hologic Inc.
6.25%, 08/01/20 (Call 08/01/15)		USD	100		104,000
HUB International Ltd.
7.88%, 10/01/21 (Call 10/01/16)a		USD	75		75,187
Hughes Satellite Systems Corp.
6.50%, 06/15/19		USD	100		107,002
7.63%, 06/15/21		USD	75		81,939
Huntington Ingalls Industries Inc.
5.00%, 12/15/21 (Call 12/15/17)a		USD	50		51,875
7.13%, 03/15/21 (Call 03/15/16)		USD	50		54,000
Huntsman International LLC
5.13%, 11/15/22 (Call 08/15/22)a		USD	50		49,750
8.63%, 03/15/21 (Call 09/15/15)b		USD	100		107,375
IAC/InterActiveCorp
4.75%, 12/15/22 (Call 12/15/17)		USD	50		48,875
4.88%, 11/30/18 (Call 03/02/15)		USD	25		25,625
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
4.88%, 03/15/19 (Call 07/15/16)		USD	200		203,000
5.88%, 02/01/22 (Call 08/01/17)		USD	170		173,825
6.00%, 08/01/20 (Call 02/01/17)		USD	50		52,381
iHeartCommunications Inc.
9.00%, 12/15/19 (Call 07/15/15)		USD	125		121,875
9.00%, 03/01/21 (Call 03/01/16)		USD	150		145,500
9.00%, 09/15/22 (Call 09/15/17)		USD	50		48,375
10.00%, 01/15/18 (Call 07/15/16)		USD	50		43,125
11.25%, 03/01/21 (Call 03/01/16)		USD	75		76,875
Infor U.S. Inc.
9.38%, 04/01/19 (Call 04/01/15)		USD	100		107,375
International Lease Finance Corp.
3.88%, 04/15/18		USD	100		101,250
5.75%, 05/15/16		USD	100		103,625
5.88%, 04/01/19		USD	50		54,338
5.88%, 08/15/22		USD	100		111,000
8.25%, 12/15/20		USD	100		122,414

Security	Principal (000s)			Value
8.75%, 03/15/17		USD	200	$	222,377
inVentiv Health Inc.
9.00%, 01/15/18 (Call 01/15/16)a		USD	75		77,909
Iron Mountain Inc.
5.75%, 08/15/24 (Call 08/15/17)		USD	75		76,125
6.00%, 08/15/23 (Call 08/15/18)		USD	50		52,250
6.75%, 10/15/18 (Call 02/13/15)		EUR	100		112,845
iStar Financial Inc.
4.00%, 11/01/17 (Call 08/01/17)		USD	150		147,000
J.C. Penney Corp. Inc.
5.65%, 06/01/20		USD	75		62,250
Jaguar Holding Co II/Jaguar Merger Sub Inc.
9.50%, 12/01/19 (Call 03/02/15)a,b		USD	100		107,925
Jefferies Finance LLC/JFIN Co-Issuer Corp.
6.88%, 04/15/22 (Call 04/15/17)a		USD	200		180,731
Kindred Escrow Corp. II
8.00%, 01/15/20a		USD	50		53,500
8.75%, 01/15/23 (Call 01/15/18)a		USD	50		53,375
Kinetic Concepts Inc./KCI USA Inc.
10.50%, 11/01/18 (Call 11/01/15)		USD	150		165,000
12.50%, 11/01/19 (Call 11/01/15)		USD	50		55,562
KLX Inc.
5.88%, 12/01/22 (Call 12/01/17)a,b		USD	75		73,875
L Brands Inc.
5.63%, 02/15/22		USD	100		108,500
6.90%, 07/15/17		USD	100		110,375
7.00%, 05/01/20		USD	100		113,500
Lamar Media Corp.
5.00%, 05/01/23 (Call 05/01/18)		USD	50		50,000
5.38%, 01/15/24 (Call 01/15/19)		USD	75		77,437
Laredo Petroleum Inc.
5.63%, 01/15/22 (Call 01/15/17)		USD	25		22,000
9.50%, 02/15/19 (Call 03/02/15)		USD	100		100,400
Laureate Education Inc.
9.75%, 09/01/19 (Call 09/01/15)a		USD	100		101,500
Lear Corp.
4.75%, 01/15/23 (Call 01/15/18)		USD	25		25,313
5.25%, 01/15/25 (Call 01/15/20)		USD	50		51,063
Lennar Corp.
4.50%, 06/15/19 (Call 04/16/19)		USD	25		25,125
4.75%, 11/15/22 (Call 08/15/22)		USD	50		49,500
Level 3 Communications Inc.
5.75%, 12/01/22 (Call 12/01/17)a		USD	50		50,625
Level 3 Financing Inc.
5.38%, 08/15/22 (Call 08/15/17)a		USD	75		76,312
5.63%, 02/01/23 (Call 02/01/18)a		USD	50		51,110
6.13%, 01/15/21 (Call 11/15/16)		USD	50		51,938
8.13%, 07/01/19 (Call 07/01/15)		USD	200		212,250
8.63%, 07/15/20 (Call 01/15/16)		USD	100		109,050
Levi Strauss & Co.
6.88%, 05/01/22 (Call 05/01/17)b		USD	100		108,000
LifePoint Hospitals Inc.
5.50%, 12/01/21 (Call 12/01/16)		USD	75		79,125
6.63%, 10/01/20 (Call 10/01/15)		USD	50		52,625
Linn Energy LLC/Linn Energy Finance Corp.
6.25%, 11/01/19 (Call 11/01/15)		USD	200		152,895
6.50%, 05/15/19 (Call 05/15/15)		USD	50		38,875
6.50%, 09/15/21 (Call 09/15/17)		USD	50		36,238
7.75%, 02/01/21 (Call 09/15/15)		USD	100		76,000
8.63%, 04/15/20 (Call 04/15/15)		USD	100		79,873
MarkWest Energy Partners LP/MarkWest Energy Finance Corp.
4.50%, 07/15/23 (Call 04/15/23)		USD	100		99,500

31

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

January 31, 2015

Security	Principal (000s)			Value
6.75%, 11/01/20 (Call 11/01/15)b		USD	150	$	158,125
Masco Corp.
6.13%, 10/03/16b		USD	150		159,375
McClatchy Co. (The)
9.00%, 12/15/22 (Call 12/15/17)		USD	50		53,125
McGraw-Hill Global Education Holdings LLC/McGraw-Hill Global Education Finance
9.75%, 04/01/21 (Call 04/01/16)		USD	50		55,375
Memorial Production Partners LP/Memorial Production Finance Corp.
6.88%, 08/01/22 (Call 08/01/17)a,b		USD	75		63,750
MGM Resorts International
5.25%, 03/31/20b		USD	100		100,250
6.00%, 03/15/23b		USD	50		50,625
6.63%, 12/15/21		USD	175		183,750
6.75%, 10/01/20		USD	100		105,750
7.50%, 06/01/16		USD	100		105,500
7.63%, 01/15/17		USD	100		106,750
8.63%, 02/01/19		USD	100		112,750
Michaels Stores Inc.
5.88%, 12/15/20 (Call 12/15/16)a		USD	50		50,875
Micron Technology Inc.
5.50%, 02/01/25 (Call 08/01/19)a		USD	90		90,900
5.88%, 02/15/22 (Call 02/15/17)a		USD	50		52,375
Midstates Petroleum Co. Inc./Midstates Petroleum Co. LLC
9.25%, 06/01/21 (Call 06/01/16)b		USD	50		25,750
10.75%, 10/01/20 (Call 10/01/16)		USD	50		27,250
MPH Acquisition Holdings LLC
6.63%, 04/01/22 (Call 04/01/17)a		USD	100		103,750
Nationstar Mortgage LLC/Nationstar Capital Corp.
6.50%, 07/01/21 (Call 01/01/17)		USD	100		86,750
Navient Corp.
5.50%, 01/15/19		USD	100		103,250
5.50%, 01/25/23		USD	100		96,750
5.88%, 10/25/24		USD	75		70,875
6.00%, 01/25/17		USD	100		104,750
7.25%, 01/25/22		USD	75		81,562
8.00%, 03/25/20b		USD	200		223,500
8.45%, 06/15/18		USD	200		226,000
Navistar International Corp.
8.25%, 11/01/21 (Call 03/02/15)b		USD	100		97,500
NBTY Inc.
9.00%, 10/01/18 (Call 03/02/15)		USD	50		51,188
NCR Corp.
4.63%, 02/15/21 (Call 02/15/17)		USD	50		49,000
5.00%, 07/15/22 (Call 07/15/17)		USD	50		49,125
6.38%, 12/15/23 (Call 12/15/18)b		USD	75		78,375
Neiman Marcus Group Ltd. LLC
8.00%, 10/15/21 (Call 10/15/16)a,b		USD	100		103,750
Newfield Exploration Co.
5.63%, 07/01/24		USD	75		73,687
5.75%, 01/30/22		USD	50		49,375
6.88%, 02/01/20 (Call 03/02/15)		USD	100		101,039
NGPL PipeCo LLC
7.12%, 12/15/17a		USD	100		97,500
9.63%, 06/01/19 (Call 06/01/15)a,b		USD	50		49,125
Nielsen Finance LLC/Nielsen Finance Co.
4.50%, 10/01/20 (Call 10/01/16)		USD	50		50,375
5.00%, 04/15/22 (Call 04/15/17)a		USD	125		125,156
NRG Energy Inc.
6.25%, 07/15/22 (Call 07/15/18)		USD	100		102,500
6.25%, 05/01/24 (Call 05/01/19)		USD	75		74,812
6.63%, 03/15/23 (Call 09/15/17)		USD	100		103,750
7.63%, 01/15/18		USD	100		109,250

Security	Principal (000s)			Value
7.88%, 05/15/21 (Call 05/15/16)		USD	100	$	107,260
8.25%, 09/01/20 (Call 09/01/15)		USD	50		53,250
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		48,375
Oasis Petroleum Inc.
6.88%, 03/15/22 (Call 09/15/17)		USD	150		138,937
7.25%, 02/01/19 (Call 03/02/15)b		USD	50		47,625
OneMain Financial Holdings Inc.
6.75%, 12/15/19 (Call 12/15/16)a		USD	100		103,625
Outfront Media Capital LLC/Outfront Media Capital Corp.
5.25%, 02/15/22 (Call 02/15/17)a		USD	25		25,875
Owens-Brockway Glass Container Inc.
5.00%, 01/15/22a,b		USD	50		51,813
Party City Holdings Inc.
8.88%, 08/01/20 (Call 08/01/15)b		USD	50		54,000
Peabody Energy Corp.
6.00%, 11/15/18		USD	150		121,125
6.25%, 11/15/21b		USD	100		75,500
6.50%, 09/15/20b		USD	50		38,500
Penn Virginia Corp.
8.50%, 05/01/20 (Call 05/01/17)		USD	50		42,000
Penn Virginia Resource Partners LP/Penn Virginia Resource Finance Corp.
8.38%, 06/01/20 (Call 06/01/16)		USD	49		53,410
Petco Animal Supplies Inc.
9.25%, 12/01/18 (Call 03/02/15)a		USD	50		52,063
Pinnacle Entertainment Inc.
6.38%, 08/01/21 (Call 08/01/16)		USD	65		66,787
7.50%, 04/15/21 (Call 04/15/15)		USD	100		104,000
Post Holdings Inc.
6.75%, 12/01/21 (Call 12/01/17)a		USD	100		98,250
7.38%, 02/15/22 (Call 02/15/17)		USD	125		127,500
PPL Energy Supply LLC
4.60%, 12/15/21 (Call 09/15/21)		USD	100		90,102
PSPC Escrow Corp.
6.00%, 02/01/23 (Call 02/01/18)c		EUR	100		114,115
QEP Resources Inc.
5.38%, 10/01/22 (Call 07/01/22)		USD	100		95,125
6.88%, 03/01/21		USD	50		51,750
QVC Inc.
3.13%, 04/01/19		USD	50		50,560
4.85%, 04/01/24		USD	75		78,986
5.13%, 07/02/22		USD	100		107,653
R.R. Donnelley & Sons Co.
6.00%, 04/01/24		USD	50		50,250
7.88%, 03/15/21b		USD	50		55,500
Range Resources Corp.
5.00%, 08/15/22 (Call 02/15/17)		USD	100		99,251
5.75%, 06/01/21 (Call 06/01/16)b		USD	100		103,380
Regal Entertainment Group
5.75%, 03/15/22 (Call 03/15/17)b		USD	100		99,250
Regency Energy Partners LP/Regency Energy Finance Corp.
5.00%, 10/01/22 (Call 07/01/22)		USD	25		26,125
5.50%, 04/15/23 (Call 10/15/17)		USD	50		52,125
5.88%, 03/01/22 (Call 12/01/21)		USD	150		164,344
6.50%, 07/15/21 (Call 07/15/16)b		USD	100		105,500
Reynolds Group Issuer Inc./Reynolds Group Issuer LLC
5.75%, 10/15/20 (Call 10/15/15)		USD	300		308,625
6.88%, 02/15/21 (Call 02/15/16)		USD	100		105,250
7.13%, 04/15/19 (Call 03/02/15)		USD	200		207,000
7.88%, 08/15/19 (Call 08/15/15)		USD	100		105,500

32

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

January 31, 2015

Security	Principal (000s)			Value
8.25%, 02/15/21 (Call 02/15/16)		USD	100	$	101,750
9.00%, 04/15/19 (Call 03/02/15)		USD	100		103,250
9.88%, 08/15/19 (Call 08/15/15)		USD	150		159,562
Rite Aid Corp.
6.75%, 06/15/21 (Call 06/15/16)		USD	100		105,000
9.25%, 03/15/20 (Call 03/15/16)		USD	50		54,812
RJS Power Holdings LLC
5.13%, 07/15/19 (Call 07/15/16)a		USD	75		72,431
Rockies Express Pipeline LLC
5.63%, 04/15/20a		USD	75		74,446
6.00%, 01/15/19a		USD	50		50,125
6.85%, 07/15/18a		USD	50		51,750
Rosetta Resources Inc.
5.63%, 05/01/21 (Call 05/01/17)		USD	50		47,375
5.88%, 06/01/22 (Call 12/01/17)		USD	90		84,375
5.88%, 06/01/24 (Call 06/01/19)		USD	25		22,813
Sabine Pass Liquefaction LLC
5.63%, 02/01/21 (Call 11/01/20)		USD	200		201,000
5.63%, 04/15/23		USD	100		100,500
5.75%, 05/15/24 (Call 02/15/24)		USD	200		201,000
6.25%, 03/15/22		USD	100		104,000
Sabine Pass LNG LP
7.50%, 11/30/16		USD	100		105,250
Sally Holdings LLC/Sally Capital Inc.
6.88%, 11/15/19 (Call 11/15/15)		USD	150		159,375
Samson Investment Co.
9.75%, 02/15/20 (Call 02/15/16)		USD	175		54,250
Sanchez Energy Corp.
6.13%, 01/15/23 (Call 07/15/18)a		USD	150		133,164
SandRidge Energy Inc.
7.50%, 03/15/21 (Call 03/15/16)		USD	100		69,250
7.50%, 02/15/23 (Call 08/15/17)		USD	50		33,188
8.13%, 10/15/22 (Call 04/15/17)		USD	100		67,375
SBA Communications Corp.
4.88%, 07/15/22 (Call 07/15/17)a		USD	25		24,313
5.63%, 10/01/19 (Call 10/01/16)		USD	50		52,000
SBA Telecommunications Inc.
5.75%, 07/15/20 (Call 07/15/16)		USD	50		52,125
Scientific Games International Inc.
7.00%, 01/01/22 (Call 01/01/18)a,b		USD	75		75,937
10.00%, 12/01/22 (Call 12/01/18)a		USD	175		160,344
Sealed Air Corp.
4.88%, 12/01/22 (Call 09/01/22)a		USD	50		51,000
5.13%, 12/01/24 (Call 09/01/24)a		USD	75		76,781
8.38%, 09/15/21 (Call 09/15/16)a		USD	100		112,250
Sears Holdings Corp.
6.63%, 10/15/18b		USD	100		93,000
Service Corp. International/U.S.
5.38%, 01/15/22 (Call 07/15/17)		USD	50		52,310
5.38%, 05/15/24 (Call 05/15/19)		USD	50		51,813
ServiceMaster Co. LLC (The)
7.00%, 08/15/20 (Call 08/15/15)b		USD	50		52,375
8.00%, 02/15/20 (Call 03/02/15)		USD	33		34,898
Seventy Seven Energy Inc.
6.50%, 07/15/22 (Call 07/15/17)		USD	50		20,161
Seventy Seven Operating LLC
6.63%, 11/15/19 (Call 11/15/15)		USD	50		36,331
Sinclair Television Group Inc.
5.63%, 08/01/24 (Call 08/01/19)a		USD	50		49,500
6.13%, 10/01/22 (Call 10/01/17)		USD	100		103,000
Sirius XM Radio Inc.
4.63%, 05/15/23 (Call 05/15/18)a		USD	50		46,875

Security	Principal (000s)			Value
5.75%, 08/01/21 (Call 08/01/16)a,b		USD	100	$	102,500
6.00%, 07/15/24 (Call 07/15/19)a		USD	125		128,437
SM Energy Co.
5.00%, 01/15/24 (Call 07/15/18)		USD	100		89,750
Smithfield Foods Inc.
5.25%, 08/01/18 (Call 08/01/15)a		USD	25		25,625
5.88%, 08/01/21 (Call 08/01/16)a		USD	50		51,250
6.63%, 08/15/22 (Call 08/15/17)		USD	100		105,750
Spectrum Brands Inc.
6.38%, 11/15/20 (Call 11/15/16)		USD	100		105,500
Springleaf Finance Corp.
5.25%, 12/15/19		USD	50		50,000
6.90%, 12/15/17		USD	150		160,500
7.75%, 10/01/21		USD	100		111,000
Sprint Communications Inc.
6.00%, 12/01/16		USD	150		157,125
6.00%, 11/15/22		USD	200		187,250
7.00%, 03/01/20a		USD	100		108,877
7.00%, 08/15/20		USD	50		50,377
8.38%, 08/15/17		USD	100		109,000
9.00%, 11/15/18a		USD	250		290,000
9.13%, 03/01/17		USD	100		110,000
11.50%, 11/15/21		USD	100		121,700
Sprint Corp.
7.13%, 06/15/24		USD	200		193,500
7.25%, 09/15/21		USD	200		200,700
7.88%, 09/15/23		USD	300		305,625
Standard Pacific Corp.
8.38%, 05/15/18		USD	100		112,500
Steel Dynamics Inc.
5.13%, 10/01/21 (Call 10/01/17)a		USD	50		50,875
5.25%, 04/15/23 (Call 04/15/18)		USD	75		76,875
5.50%, 10/01/24 (Call 10/01/19)a		USD	25		25,563
Suburban Propane Partners LP/Suburban Energy Finance Corp.
5.50%, 06/01/24 (Call 06/01/19)		USD	25		24,526
SunGard Data Systems Inc.
6.63%, 11/01/19 (Call 11/01/15)		USD	50		50,250
7.38%, 11/15/18 (Call 03/02/15)		USD	100		104,000
7.63%, 11/15/20 (Call 11/15/15)		USD	100		106,500
SUPERVALU Inc.
6.75%, 06/01/21 (Call 06/01/17)b		USD	50		50,500
8.00%, 05/01/16		USD	22		23,595
T-Mobile USA Inc.
6.00%, 03/01/23 (Call 09/01/18)		USD	100		102,437
6.25%, 04/01/21 (Call 04/01/17)		USD	100		103,275
6.38%, 03/01/25 (Call 09/01/19)		USD	150		152,625
6.46%, 04/28/19 (Call 04/28/15)		USD	150		155,250
6.54%, 04/28/20 (Call 04/28/16)		USD	100		103,969
6.63%, 11/15/20 (Call 11/15/15)		USD	100		104,350
6.63%, 04/28/21 (Call 04/28/17)		USD	200		208,000
6.63%, 04/01/23 (Call 04/01/18)		USD	150		155,625
6.73%, 04/28/22 (Call 04/28/17)		USD	150		156,000
6.84%, 04/28/23 (Call 04/28/18)		USD	50		52,000
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
4.13%, 11/15/19 (Call 11/15/16)a		USD	100		97,386
4.25%, 11/15/23 (Call 05/15/18)		USD	50		47,206
6.88%, 02/01/21 (Call 02/01/16)		USD	100		104,887
Taylor Morrison Communities Inc./Monarch Communities Inc.
5.25%, 04/15/21 (Call 04/15/16)a		USD	100		94,250
Tenet Healthcare Corp.
4.50%, 04/01/21b		USD	100		101,000
5.00%, 03/01/19a		USD	25		25,063

33

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

January 31, 2015

Security	Principal (000s)			Value
5.50%, 03/01/19a		USD	25	$	25,375
6.00%, 10/01/20		USD	150		162,375
6.25%, 11/01/18		USD	100		109,000
8.00%, 08/01/20 (Call 08/01/15)b		USD	50		52,750
8.13%, 04/01/22		USD	300		337,875
Terex Corp.
6.00%, 05/15/21 (Call 11/15/16)		USD	75		76,125
Tesoro Corp.
5.38%, 10/01/22 (Call 10/01/17)b		USD	50		50,992
Tesoro Logistics LP/Tesoro Logistics Finance Corp.
5.88%, 10/01/20 (Call 10/01/16)		USD	50		50,625
6.13%, 10/15/21 (Call 10/15/16)		USD	50		50,625
6.25%, 10/15/22 (Call 10/15/18)a		USD	100		101,250
Toll Brothers Finance Corp.
5.88%, 02/15/22 (Call 11/15/21)		USD	100		109,125
Toys R Us Inc.
10.38%, 08/15/17 (Call 03/02/15)b		USD	25		20,500
Toys R Us Property Co. II LLC
8.50%, 12/01/17 (Call 03/02/15)b		USD	50		49,563
TransDigm Inc.
6.00%, 07/15/22 (Call 07/15/17)		USD	50		50,000
6.50%, 07/15/24 (Call 07/15/19)		USD	125		126,250
7.50%, 07/15/21 (Call 07/15/16)		USD	100		106,000
U.S. Airways Group Inc.
6.13%, 06/01/18b		USD	50		52,625
United Rentals North America Inc.
5.75%, 11/15/24 (Call 05/15/19)		USD	75		76,125
6.13%, 06/15/23 (Call 12/15/17)		USD	75		78,562
7.38%, 05/15/20 (Call 05/15/16)		USD	150		162,000
7.63%, 04/15/22 (Call 04/15/17)		USD	100		110,000
8.38%, 09/15/20 (Call 09/15/15)		USD	100		107,250
United States Steel Corp.
7.38%, 04/01/20		USD	100		102,500
7.50%, 03/15/22 (Call 03/15/17)		USD	50		50,938
Univision Communications Inc.
5.13%, 05/15/23 (Call 05/15/18)a		USD	100		104,250
6.75%, 09/15/22 (Call 09/15/17)a		USD	90		97,875
6.88%, 05/15/19 (Call 05/15/15)a		USD	150		156,375
8.50%, 05/15/21 (Call 11/15/15)a,b		USD	50		53,750
USG Corp.
6.30%, 11/15/16		USD	100		104,500
Valeant Pharmaceuticals International
6.75%, 08/15/21 (Call 02/15/16)a		USD	100		105,250
6.88%, 12/01/18 (Call 02/17/15)a		USD	53		54,961
7.25%, 07/15/22 (Call 07/15/16)a		USD	50		53,500
Valeant Pharmaceuticals International Inc.
6.38%, 10/15/20 (Call 10/15/16)a		USD	200		210,500
7.00%, 10/01/20 (Call 10/01/15)a		USD	100		105,500
Verso Paper Holdings LLC/Verso Paper Inc.
11.75%, 01/15/19 (Call 03/02/15)		USD	30		29,381
Voya Financial Inc.
5.65%, 05/15/53 (Call 05/15/23)d		USD	50		50,375
Vulcan Materials Co.
7.50%, 06/15/21		USD	100		118,000
Walter Energy Inc.
8.50%, 04/15/21 (Call 04/15/17)b		USD	25		3,375
9.50%, 10/15/19 (Call 10/15/16)a,b		USD	50		31,750
9.88%, 12/15/20 (Call 12/15/16)		USD	50		7,000
West Corp.
5.38%, 07/15/22 (Call 07/15/17)a		USD	100		95,750
Whiting Petroleum Corp.
5.00%, 03/15/19 (Call 12/15/18)		USD	100		96,000

Security	Principal or Shares (000s)			Value
5.75%, 03/15/21 (Call 12/15/20)b		USD	50	$	47,500
WideOpenWest Finance LLC/WideOpenWest Capital Corp.
10.25%, 07/15/19 (Call 07/15/15)		USD	75		77,437
Windstream Corp.
7.50%, 06/01/22 (Call 06/01/17)		USD	100		99,750
7.50%, 04/01/23 (Call 04/01/16)		USD	100		99,625
7.75%, 10/15/20 (Call 10/15/15)		USD	100		103,750
7.88%, 11/01/17		USD	100		107,750
WMG Acquisition Corp.
6.75%, 04/15/22 (Call 04/15/17)a,b		USD	50		45,375
WPX Energy Inc.
5.25%, 09/15/24 (Call 06/15/24)		USD	25		23,188
6.00%, 01/15/22 (Call 10/15/21)		USD	100		97,500
WR Grace & Co-Conn
5.13%, 10/01/21a		USD	50		52,000
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.
5.38%, 03/15/22 (Call 03/15/17)		USD	100		101,750
7.75%, 08/15/20 (Call 08/15/15)		USD	100		106,500
Zayo Group LLC/Zayo Capital Inc.
6.00%, 04/01/23 (Call 04/01/18)a		USD	125		125,452
Zebra Technologies Corp.
7.25%, 10/15/22 (Call 10/15/17)a,b		USD	100		107,250
					54,803,501
TOTAL CORPORATE BONDS & NOTES
(Cost: $91,407,752)					87,013,808
SHORT-TERM INVESTMENTS — 11.10%
MONEY MARKET FUNDS — 11.10%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.15%g,h,i			9,112		9,112,438
BlackRock Cash Funds: Prime, SL Agency Shares
0.14%g,h,i			737		737,056
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%h,i			90		90,254
					9,939,748
TOTAL SHORT-TERM INVESTMENTS
(Cost: $9,939,748)					9,939,748
TOTAL INVESTMENTS IN SECURITIES — 108.29%
(Cost: $101,347,500)					96,953,556
Other Assets, Less Liabilities — (8.29)%					(7,422,970	)
NET ASSETS — 100.00%				$	89,530,586

CAD	—  Canadian Dollar
EUR	—  Euro

34

Schedule of Investments  (Unaudited) (Continued)

iSHARES^® GLOBAL HIGH YIELD CORPORATE BOND ETF

January 31, 2015

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  Issuer is in default of interest payments.

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

^h  Affiliated issuer. See Note 2.

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

See accompanying notes to schedules of investments.

35

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

1

Notes to Schedules of Investments (Unaudited) (Continued)

iSHARES^®, INC.

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.

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 January 31, 2015. The breakdown of each Fund’s investments into major categories is disclosed in its respective schedule of investments.

2

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	$	—	$	22,966,485	$	—	$	22,966,485
Foreign Government Obligations		—		929,347		—		929,347
Money Market Funds		773,916		—		—		773,916
	$	773,916	$	23,895,832	$	—	$	24,669,748
Emerging Markets High Yield Bond
Assets:
Corporate Bonds & Notes	$	—	$	71,675,520	$	—	$	71,675,520
Foreign Government Obligations		—		97,161,139		—		97,161,139
Money Market Funds		840,774		—		—		840,774
	$	840,774	$	168,836,659	$	—	$	169,677,433
Emerging Markets Local Currency Bond
Assets:
Foreign Government Obligations	$	—	$	493,388,759	$	—	$	493,388,759
Money Market Funds		1,008,780		—		—		1,008,780
	$	1,008,780	$	493,388,759	$	—	$	494,397,539
Global ex USD High Yield Corporate Bond
Assets:
Corporate Bonds & Notes	$	—	$	198,651,016	$	0a	$	198,651,016
Money Market Funds		29,599		—		—		29,599
	$	29,599	$	198,651,016	$	0a	$	198,680,615
Global High Yield Corporate Bond
Assets:
Corporate Bonds & Notes	$	—	$	87,013,808	$	—	$	87,013,808
Money Market Funds		9,939,748		—		—		9,939,748
	$	9,939,748	$	87,013,808	$	—	$	96,953,556

^a Rounds to less than $1.

FOREIGN CURRENCY TRANSLATION

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

FEDERAL INCOME TAXES

As of January 31, 2015, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows:

3

Notes to Schedules of Investments  (Unaudited) (Continued)

iSHARES^®, INC.

iShares ETF	Tax Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Net Unrealized Appreciation (Depreciation)
Emerging Markets Corporate Bond	$	26,094,057	$	365,911	$	(1,790,220	)	$	(1,424,309	)
Emerging Markets High Yield Bond		190,133,356		5,842,984		(26,298,907	)		(20,455,923	)
Emerging Markets Local Currency Bond		552,362,683		9,888,624		(67,853,768	)		(57,965,144	)
Global ex USD High Yield Corporate Bond		227,007,866		26,197		(28,353,448	)		(28,327,251	)
Global High Yield Corporate Bond		101,347,956		1,247,923		(5,642,323	)		(4,394,400	)

4

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 January 31, 2015, 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.

5

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:	March 27, 2015

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:	March 27, 2015
By:	/s/ Jack Gee
Jack Gee, Treasurer and Chief Financial Officer (Principal Financial Officer)
Date:	March 27, 2015

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: March 27, 2015	/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: March 27, 2015	/s/ Jack Gee	Treasurer and Chief Financial Officer (Principal Financial Officer)
	Jack Gee [Signature]	[Title]