Consolidated Schedule of Investments  (unaudited)  November 30, 2019 iShares^® MSCI Emerging Markets Small-Cap ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Argentina — 0.7%
Adecoagro SA(a)(b)		35,510	$	244,309
Arcos Dorados Holdings Inc., Class A		36,131		278,209
Central Puerto SA, ADR		30,207		119,922
Cresud SACIF y A, ADR(a)(b)		12,049		69,282
Despegar.com Corp.(a)		15,147		188,126
Empresa Distribuidora y Comercializadora Norte SA, ADR(a)		6,622		35,030
Grupo Supervielle SA, ADR		18,720		52,416
Loma Negra Cia Industrial Argentina SA, ADR(a)		19,269		126,405
Pampa Energia SA, ADR(a)		16,313		222,509
Transportadora de Gas del Sur SA, Class B		22,281		134,354
				1,470,562
Brazil — 7.0%
AES Tiete Energia SA		38,841		116,202
Aliansce Sonae Shopping Centers SA(a)		23,749		249,831
Alupar Investimento SA		47,908		294,588
Anima Holding SA		13,200		70,303
Arezzo Industria e Comercio SA		14,300		211,373
Banco Inter SA		20,900		222,430
BK Brasil Operacao e Assessoria a Restaurantes SA		53,500		210,923
BR Properties SA(a)		37,441		113,962
Camil Alimentos SA		45,300		80,566
Cia. de Locacao das Americas		90,000		369,723
Cia. de Saneamento de Minas Gerais-COPASA		19,300		312,621
Cia. de Saneamento do Parana		18,800		408,164
Cia. Hering		43,500		329,828
Construtora Tenda SA		19,600		110,462
Cosan Logistica SA(a)		41,322		209,625
CVC Brasil Operadora e Agencia de Viagens SA		39,600		375,930
Cyrela Brazil Realty SA Empreendimentos e Participacoes		74,300		471,634
Dommo Energia SA(a)		41,000		100,844
Duratex SA		93,900		319,344
EcoRodovias Infraestrutura e Logistica SA		57,699		196,501
EDP — Energias do Brasil SA		93,400		439,355
Enauta Participacoes SA		28,200		91,970
Eneva SA(a)		32,900		296,453
Even Construtora e Incorporadora SA(a)		33,500		99,035
Ez Tec Empreendimentos e Participacoes SA		27,077		277,542
Fleury SA		59,500		401,048
Grendene SA		87,300		221,951
Grupo SBF SA(a)		18,400		117,581
Guararapes Confeccoes SA		30,400		145,806
Iguatemi Empresa de Shopping Centers SA		26,200		294,079
Instituto Hermes Pardini SA		17,300		101,714
Iochpe Maxion SA		32,205		147,380
JSL SA		18,400		93,081
Light SA		69,000		334,042
Linx SA		49,200		369,788
LOG Commercial Properties e Participacoes SA		18,760		124,851
M. Dias Branco SA		22,300		174,464
Mahle-Metal Leve SA		12,000		70,355
Marfrig Global Foods SA(a)		66,400		168,030
Minerva SA(a)		42,400		147,407
Movida Participacoes SA		39,400		153,750
MRV Engenharia e Participacoes SA		88,100		366,085
Odontoprev SA		76,900		289,719
Omega Geracao SA(a)		15,000		131,010

Security	Shares		Value
Brazil (continued)
Petro Rio SA(a)		31,000	$	170,532
Qualicorp Consultoria e Corretora de Seguros SA		67,000		583,119
Santos Brasil Participacoes SA		82,500		139,311
Sao Martinho SA		54,600		269,882
Ser Educacional SA(c)		20,335		112,104
SLC Agricola SA		29,000		131,684
Smiles Fidelidade SA		18,100		148,796
TOTVS SA		45,900		702,346
Transmissora Alianca de Energia Eletrica SA		66,200		443,076
Trisul SA		28,000		88,139
Tupy SA		18,700		87,125
Via Varejo SA(a)		291,900		608,197
Wiz Solucoes e Corretagem de Seguros SA		24,900		74,082
YDUQS Part		79,300		795,382
				14,185,125
Chile — 1.0%
AES Gener SA		907,122		171,999
Besalco SA		123,622		59,749
CAP SA		20,312		131,651
Cia. Sud Americana de Vapores SA(a)		3,687,431		119,682
Engie Energia Chile SA		146,116		181,079
Forus SA		31,895		45,456
Grupo Security SA		348,670		81,442
Inversiones Aguas Metropolitanas SA		118,072		113,411
Inversiones La Construccion SA		10,339		99,800
Parque Arauco SA		172,505		368,774
Ripley Corp. SA		227,770		94,710
Salfacorp SA		106,599		54,169
SMU SA		712,147		127,970
SONDA SA		149,913		127,104
Vina Concha y Toro SA		111,198		198,440
				1,975,436
China — 10.5%
21Vianet Group Inc., ADR(a)(b)		17,401		117,805
360 Finance Inc., ADR(a)(b)		13,141		124,839
361 Degrees International Ltd.		292,000		52,971
500.com Ltd., ADR(a)(b)		5,593		53,413
AGTech Holdings Ltd.(a)(b)		1,232,000		55,086
Ajisen China Holdings Ltd.		156,000		49,225
AK Medical Holdings Ltd.(c)		106,000		119,572
Anxin-China Holdings Ltd.(a)(d)		1,084,000		1
Ascletis Pharma Inc.(a)(b)(c)		111,000		47,220
Asia Cement China Holdings Corp.		144,500		194,199
AVIC International Holdings Ltd., Class H(a)		94,000		95,708
Beijing Capital Land Ltd., Class H		312,000		105,624
Beijing Gas Blue Sky Holdings Ltd.(a)(b)		2,232,000		55,602
Beijing Tong Ren Tang Chinese Medicine Co. Ltd.(b)		97,000		125,901
Bitauto Holdings Ltd., ADR(a)(b)		8,569		127,335
Boshiwa International Holding Ltd.(a)(b)(d)		32,000		41
Camsing International Holding Ltd.(a)(b)(d)		164,000		21,349
Canvest Environmental Protection Group Co. Ltd.		360,000		154,067
CAR Inc.(a)(b)		244,000		178,922
Central China Real Estate Ltd.		284,000		152,018
CGN Meiya Power Holdings Co. Ltd.(a)(c)		426,000		59,320
Changyou.com Ltd., ADR		6,056		57,835
Chaowei Power Holdings Ltd.		196,000		68,858
China Aircraft Leasing Group Holdings Ltd.		134,500		139,865
China Animal Healthcare Ltd.(a)(b)(d)		126,000		644
China BlueChemical Ltd., Class H		610,000		145,725

1

Consolidated Schedule of Investments  (unaudited) (continued) November 30, 2019 iShares^® MSCI Emerging Markets Small-Cap ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
China (continued)
China Datang Corp. Renewable Power Co. Ltd., Class H		852,000	$	83,810
China Dili Group(a)(b)		883,999		276,682
China Dongxiang Group Co. Ltd.		1,357,000		152,555
China Everbright Greentech Ltd.(c)		352,000		192,464
China Foods Ltd.		280,000		112,676
China Grand Pharmaceutical and Healthcare Holdings Ltd., Class A		360,000		203,737
China Harmony New Energy Auto Holding Ltd.		265,500		106,841
China High Speed Transmission Equipment Group Co. Ltd.(b)		147,000		86,385
China Huiyuan Juice Group Ltd.(a)(d)		379,000		54,712
China Lilang Ltd.		139,000		112,226
China LNG Group Ltd.(a)		778,000		43,732
China Logistics Property Holdings Co. Ltd.(a)(b)(c)		267,000		104,034
China Lumena New Materials Corp.(a)(b)(d)		210,000		0	(e)
China Maple Leaf Educational Systems Ltd.		472,000		164,614
China Meidong Auto Holdings Ltd.		120,000		135,211
China Merchants Land Ltd.		756,000		109,135
China Metal Recycling Holdings Ltd.(a)(d)		12,000		0	(e)
China Metal Resources Utilization Ltd.(a)(b)(c)		316,000		121,108
China Modern Dairy Holdings Ltd.(a)		755,000		110,919
China New Higher Education Group Ltd.(b)(c)		165,000		55,227
China Oriental Group Co. Ltd.		328,000		135,344
China Overseas Grand Oceans Group Ltd.		460,000		257,980
China Overseas Property Holdings Ltd.		430,000		264,776
China Resources Medical Holdings Co. Ltd.		285,000		157,651
China SCE Group Holdings Ltd.		573,000		273,040
China Shineway Pharmaceutical Group Ltd.		84,000		86,170
China South City Holdings Ltd.		1,746,000		202,978
China Suntien Green Energy Corp. Ltd., Class H		481,000		132,113
China Tian Lun Gas Holdings Ltd.		101,000		88,771
China Travel International Investment Hong Kong Ltd.		898,000		141,106
China Water Affairs Group Ltd.(b)		258,000		198,088
China Youzan Ltd.(a)(b)		3,072,000		186,414
China Yuhua Education Corp Ltd.(b)(c)		378,000		232,274
China ZhengTong Auto Services Holdings Ltd.(b)		334,000		95,151
Chinasoft International Ltd.(b)		610,000		289,892
CIMC Enric Holdings Ltd.		188,000		103,033
CITIC Resources Holdings Ltd.		802,000		50,203
COFCO Meat Holdings Ltd.(a)		398,000		123,044
Colour Life Services Group Co. Ltd.(b)		120,000		66,686
Concord New Energy Group Ltd.		2,810,000		132,822
Consun Pharmaceutical Group Ltd.		141,000		78,896
COSCO SHIPPING International Hong Kong Co. Ltd.		350,000		90,767
Cosmo Lady China Holdings Co. Ltd.(c)		228,000		30,584
CPMC Holdings Ltd.		174,000		76,244
Dah Chong Hong Holdings Ltd.		364,000		166,939
Daqo New Energy Corp., ADR(a)		3,148		119,876
Dawnrays Pharmaceutical Holdings Ltd.		387,000		69,215
Digital China Holdings Ltd.(b)		222,000		110,323
Dongyue Group Ltd.		381,000		194,205
Essex Bio-Technology Ltd.		107,000		81,059
Fanhua Inc., ADR		15,416		419,315
Fantasia Holdings Group Co. Ltd.(b)		586,500		98,153
FinVolution Group		24,934		73,057
Fu Shou Yuan International Group Ltd.(b)		298,000		256,209
Fufeng Group Ltd.		482,400		211,380
GCL-Poly Energy Holdings Ltd.(a)		3,735,000		109,267
Gemdale Properties & Investment Corp. Ltd.		1,830,000		212,743
Genertec Universal Medical Group Co. Ltd.(b)(c)		316,500		220,360

Security	Shares		Value
China (continued)
Glorious Property Holdings Ltd.(a)		965,000	$	30,327
Goodbaby International Holdings Ltd.(a)		312,000		59,787
Grand Baoxin Auto Group Ltd.(a)		253,500		46,958
Greenland Hong Kong Holdings Ltd.		289,000		108,175
Guorui Properties Ltd.(b)		356,000		71,402
Haichang Ocean Park Holdings Ltd.(a)(c)		479,000		61,804
Hangzhou Steam Turbine Co. Ltd., Class B		99,980		98,348
Harbin Electric Co. Ltd., Class H(a)		276,000		69,461
HC Group Inc.(a)(b)		187,000		60,918
HengTen Networks Group Ltd.(a)		6,568,000		94,814
Hi Sun Technology China Ltd.(a)		915,000		149,622
Honghua Group Ltd.(a)		837,000		47,583
Hope Education Group Co. Ltd.(c)		628,000		104,296
Hua Han Health Industry Holdings Ltd.(a)(d)		1,112,400		35,527
Huabao International Holdings Ltd.(b)		287,000		93,494
Huangshi Dongbei Electrical Appliance Co. Ltd., Class B		65,300		82,278
Huifu Payment Ltd.(a)(b)(c)		189,200		76,862
IGG Inc.(b)		337,000		245,827
IMAX China Holding Inc.(c)		36,700		78,485
Jianpu Technology Inc., ADR(a)(b)		16,908		35,507
Jiayuan International Group Ltd.		350,000		133,691
Jinchuan Group International Resources Co. Ltd.(b)		852,000		65,306
JinkoSolar Holding Co. Ltd., ADR(a)(b)		10,202		187,207
JNBY Design Ltd.		54,500		75,890
Jumei International Holding Ltd., ADR(a)(b)		27,253		51,236
Kasen International Holdings Ltd.(a)(b)		192,000		85,358
Konka Group Co. Ltd., Class B		328,300		99,818
Lifetech Scientific Corp.(a)		786,000		134,552
Lonking Holdings Ltd.		594,000		169,221
Luthai Textile Co. Ltd., Class B		57,700		50,345
LVGEM China Real Estate Investment Co. Ltd.		374,000		124,702
Meitu Inc.(a)(c)		651,000		119,759
MMG Ltd.(a)		732,000		159,908
Nam Tai Property Inc.(a)		17,565		161,071
National Agricultural Holdings Ltd.(a)(b)(d)		354,000		24,421
NetDragon Websoft Holdings Ltd.(b)		68,000		157,235
OneSmart International Education Group Ltd., ADR(a)		28,865		205,230
Panda Green Energy Group Ltd.(a)(b)		1,448,000		37,737
PAX Global Technology Ltd.		275,000		120,149
Phoenix Media Investment Holdings Ltd.		534,000		38,203
Poly Property Group Co. Ltd.		666,000		238,229
Pou Sheng International Holdings Ltd.		680,000		227,601
Q Technology Group Co. Ltd.(a)		123,000		182,275
Qutoutiao Inc., ADR(a)(b)		18,988		55,635
Realord Group Holdings Ltd.(a)(b)		246,000		150,848
Redco Properties Group Ltd.(c)		274,000		159,267
Road King Infrastructure Ltd.		77,000		140,076
Ronshine China Holdings Ltd.		178,500		207,512
Sany Heavy Equipment International Holdings Co. Ltd.		305,000		153,128
Seaspan Corp.		26,147		307,227
Shandong Airlines Co. Ltd., Class B		49,400		53,769
Shang Gong Group Co. Ltd., Class B(a)		11,500		4,865
Shanghai Fudan Microelectronics Group Co. Ltd., Class H(a)(b)		90,000		57,488
Shanghai Haixin Group Co., Class B		207,000		77,211
Shanghai Haohai Biological Technology Co. Ltd., Class H(b)(c)		15,500		91,878
Shanghai Industrial Urban Development Group Ltd.		628,000		77,821
Shanghai Jinjiang International Industrial Investment Co. Ltd., Class B		112,700		94,104

2

Consolidated Schedule of Investments  (unaudited) (continued) November 30, 2019 iShares^® MSCI Emerging Markets Small-Cap ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
China (continued)
Sheng Ye Capital Ltd.		140,000	$	127,163
Shougang Concord International Enterprises Co. Ltd.		2,644,000		116,532
Shougang Fushan Resources Group Ltd.		798,000		173,307
Sihuan Pharmaceutical Holdings Group Ltd.		1,111,000		126,319
Silver Grant International Holdings Group Ltd.(a)		498,000		76,344
Sinopec Kantons Holdings Ltd.		318,000		125,124
Skyfame Realty Holdings Ltd.		1,054,000		137,342
Skyworth Group Ltd.		550,000		147,552
SMI Holdings Group Ltd.(a)(d)		468,800		94,625
Sohu.com Ltd., ADR(a)(b)		10,158		104,018
Superb Summit International Group Ltd.(a)(b)(d)		238,250		304
Tarena International Inc., ADR(a)		2,482		2,184
TCL Electronics Holdings Ltd.		248,000		108,987
Texhong Textile Group Ltd.		98,000		101,784
Tian Ge Interactive Holdings Ltd.(a)(c)		229,000		54,707
Tiangong International Co. Ltd.		352,000		136,254
Tianjin Development Holdings Ltd.		384,000		105,961
Tianjin Port Development Holdings Ltd.		1,132,000		108,460
Tianneng Power International Ltd.(b)		222,000		146,057
Tong Ren Tang Technologies Co. Ltd., Class H		177,000		152,630
Tongda Group Holdings Ltd.		1,170,000		86,692
Truly International Holdings Ltd.(a)		584,000		76,098
Vinda International Holdings Ltd.		95,000		166,025
Wasion Holdings Ltd.		170,000		80,355
West China Cement Ltd.		820,000		129,897
Wisdom Education International Holdings Co. Ltd.		196,000		86,385
Wise Talent Information Technology Co. Ltd.(a)		41,400		96,681
X Financial, ADR(b)		17,439		30,867
Xiamen International Port Co. Ltd., Class H		704,000		100,729
Xingda International Holdings Ltd.		338,000		90,677
Xtep International Holdings Ltd.		336,000		172,985
Yadea Group Holdings Ltd.(b)(c)		388,000		99,134
YiChang HEC ChangJiang Pharmaceutical Co. Ltd., Class H(c)		38,800		203,969
Yixin Group Ltd.(a)(b)(c)		468,500		107,732
Yuexiu REIT		473,000		313,007
Yuexiu Transport Infrastructure Ltd.		314,000		274,378
Zai Lab Ltd., ADR(a)		10,922		434,696
Zhou Hei Ya International Holdings Co. Ltd.(c)		187,500		120,964
Zhuguang Holdings Group Co. Ltd.(a)(b)		882,000		120,563
				21,434,277
Colombia — 0.2%
Cementos Argos SA		109,992		193,496
CEMEX Latam Holdings SA(a)		67,062		85,056
Corp. Financiera Colombiana SA(a)		25,082		209,660
				488,212
Czech Republic — 0.1%
Central European Media Enterprises Ltd., Class A(a)		37,363		167,037
Egypt — 0.5%
Alexandria Mineral Oils Co.		33,097		8,007
Egyptian Financial Group-Hermes Holding Co.		168,661		184,355
Ezz Steel Co. SAE(a)		62,196		43,715
Heliopolis Housing		48,118		72,237
Juhayna Food Industries		158,112		83,372
Medinet Nasr Housing(a)		232,002		69,514
Oriental Weavers		93,438		60,225
Palm Hills Developments SAE(a)		505,972		63,089
Pioneers Holding For Financial Investments SAE(a)		184,547		62,279
Six of October Development & Investment		76,695		71,224

Security	Shares		Value
Egypt (continued)
Talaat Moustafa Group		266,332	$	145,888
Telecom Egypt Co.		111,432		72,306
				936,211
Greece — 0.8%
Aegean Airlines SA		19,512		179,641
GEK Terna Holding Real Estate Construction SA(a)		30,545		239,457
Hellenic Exchanges-Athens Stock Exchange SA		32,964		167,010
Mytilineos SA		36,555		407,086
Piraeus Bank SA(a)		86,086		301,841
Public Power Corp. SA(a)(b)		33,459		119,309
Terna Energy SA		18,727		153,624
				1,567,968
Hong Kong — 0.2%
Ever Sunshine Lifestyle Services Group Ltd.		198,000		117,367
Glory Sun Financial Group Ltd.(b)		4,112,000		149,714
NOVA Group Holdings Ltd.		455,000		88,352
				355,433
Hungary — 0.1%
Magyar Telekom Telecommunications PLC		142,197		206,332
Opus Global Nyrt(a)		65,940		68,586
				274,918
India — 14.0%
Aarti Industries Ltd.		13,804		162,338
Aarti Surfactants Ltd.(a)		853		5,718
Aavas Financiers Ltd.(a)		7,470		184,648
Adani Enterprises Ltd.		41,100		123,121
Adani Power Ltd.(a)		235,115		208,445
Adani Transmission Ltd.(a)		86,739		375,008
Aditya Birla Fashion and Retail Ltd.(a)		61,769		193,950
Aegis Logistics Ltd.		29,081		79,292
AIA Engineering Ltd.		13,435		307,935
Ajanta Pharma Ltd.		7,725		107,350
Alembic Pharmaceuticals Ltd.		16,563		127,425
Amara Raja Batteries Ltd.		12,342		129,145
Apollo Hospitals Enterprise Ltd.		25,013		502,509
Apollo Tyres Ltd.		81,509		190,940
Arvind Fashions Ltd.(a)		9,654		46,199
Arvind Ltd.		30,831		18,566
Astral Poly Technik Ltd.		19,639		310,432
Atul Ltd.		5,164		291,272
AU Small Finance Bank Ltd.(c)		44,812		514,569
Avanti Feeds Ltd.		12,250		87,362
Bajaj Consumer Care Ltd.(a)		20,914		71,747
Balkrishna Industries Ltd.		25,390		327,827
Balrampur Chini Mills Ltd.		46,520		99,217
BASF India Ltd.		4,933		68,789
Bata India Ltd.		11,072		251,428
Bayer CropScience Ltd./India		3,393		175,774
Birla Corp. Ltd.		5,441		49,618
Blue Dart Express Ltd.		2,241		64,062
Can Fin Homes Ltd.		10,656		59,164
Canara Bank(a)		49,954		158,175
Ceat Ltd.		6,793		89,186
Century Textiles & Industries Ltd.		10,967		70,774
CESC Ltd.		20,471		214,334
CG Power and Industrial Solutions Ltd.(a)		114,439		21,855
Chalet Hotel Ltd.(a)		20,251		100,200
Cholamandalam Financial Holdings Ltd.(a)		24,901		172,220
City Union Bank Ltd.		95,796		300,191

3

Consolidated Schedule of Investments  (unaudited) (continued) November 30, 2019 iShares^® MSCI Emerging Markets Small-Cap ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
India (continued)
Coromandel International Ltd.		26,064	$	172,543
CRISIL Ltd.		6,886		153,193
Crompton Greaves Consumer Electricals Ltd.		120,632		428,213
Dalmia Bharat Ltd.(a)		14,435		177,254
DCB Bank Ltd.		57,345		145,686
Dilip Buildcon Ltd.(c)		9,866		56,256
Dish TV India Ltd.		188,504		33,503
Dr Lal PathLabs Ltd.(c)		8,784		191,984
eClerx Services Ltd.		7,846		58,038
Edelweiss Financial Services Ltd.		141,381		243,297
EIH Ltd.		58,895		131,808
Endurance Technologies Ltd.(c)		10,292		159,464
Engineers India Ltd.		67,582		99,624
Equitas Holdings Ltd./India(a)		54,595		80,404
Eris Lifesciences Ltd.(a)(c)		13,345		85,739
Escorts Ltd.		18,234		161,961
Exide Industries Ltd.		72,458		197,009
Federal Bank Ltd.		460,723		570,947
Finolex Cables Ltd.		26,167		134,104
Fortis Healthcare Ltd.(a)		140,857		272,436
Future Consumer Ltd.(a)		152,652		58,837
Future Lifestyle Fashions Ltd.		17,739		101,359
GE T&D India Ltd.		24,210		53,828
Gillette India Ltd.		2,265		216,703
Glenmark Pharmaceuticals Ltd.		42,976		202,067
GMR Infrastructure Ltd.(a)		331,240		101,121
Godrej Industries Ltd.		29,356		178,827
Godrej Properties Ltd.(a)		17,628		223,319
Graphite India Ltd.		19,077		86,719
Great Eastern Shipping Co. Ltd. (The)		20,742		92,972
Gujarat Fluorochemicals Ltd.(a)		13,205		79,805
Gujarat Gas Ltd.		57,011		168,957
Gujarat Pipavav Port Ltd.		85,782		107,620
Gujarat State Petronet Ltd.		49,870		149,636
HEG Ltd.		3,404		53,721
Hemisphere Properties India Ltd.(a)		28,290		60,719
Hexaware Technologies Ltd.		38,818		183,653
ICICI Securities Ltd.(c)		18,938		91,723
IDFC First Bank Ltd.(a)		598,838		391,086
IDFC Ltd.		230,407		114,340
IIFL Finance Ltd.		39,155		91,996
IIFL Wealth Management Ltd.		8,686		158,785
India Cements Ltd. (The)		70,030		78,779
Indiabulls Housing Finance Ltd.		84,710		343,032
Indiabulls Real Estate Ltd.(a)		67,873		64,384
Indiabulls Ventures Ltd.		51,027		121,810
Indian Bank(a)		33,388		59,993
Indian Hotels Co. Ltd. (The)		159,054		331,245
Indraprastha Gas Ltd.		64,217		370,107
Info Edge India Ltd.		2,027		74,419
Inox Leisure Ltd.		19,914		99,712
Ipca Laboratories Ltd.		14,394		229,261
IRB Infrastructure Developers Ltd.(a)		47,364		50,277
Jain Irrigation Systems Ltd.		18,051		2,630
Jindal Steel & Power Ltd.(a)		127,796		286,812
JK Cement Ltd.		9,099		146,764
JM Financial Ltd.		72,357		91,635
JSW Energy Ltd.		110,684		113,095
Jubilant Foodworks Ltd.		22,419		505,711
Jubilant Life Sciences Ltd.		23,708		168,612

Security	Shares		Value
India (continued)
Just Dial Ltd.(a)		12,099	$	95,460
Kajaria Ceramics Ltd.		21,835		163,159
Karur Vysya Bank Ltd. (The)		107,545		94,671
Kaveri Seed Co. Ltd.		9,794		66,986
KEC International Ltd.		23,264		91,402
KEI Industries Ltd.		13,151		95,153
KPIT Technologies Ltd.(a)		56,135		76,607
KRBL Ltd.		17,825		51,099
L&T Technology Services Ltd.(c)		6,619		137,547
Mahanagar Gas Ltd.		13,378		194,626
Mahindra CIE Automotive Ltd.(a)		37,545		79,604
Manappuram Finance Ltd.		75,871		163,297
Max Financial Services Ltd.(a)		42,875		301,761
Minda Industries Ltd.		22,924		110,821
Mindtree Ltd.		13,682		133,478
Motilal Oswal Financial Services Ltd.		11,174		119,742
Mphasis Ltd.		29,122		356,568
Multi Commodity Exchange of India Ltd.		8,465		138,815
Muthoot Finance Ltd.		3,267		30,879
Natco Pharma Ltd.		28,079		232,402
National Aluminium Co. Ltd.		160,084		99,080
NBCC India Ltd.		151,216		81,681
NCC Ltd./India		131,322		108,829
NIIT Technologies Ltd.		6,898		143,364
Oberoi Realty Ltd.		18,351		132,227
Oil India Ltd.		66,637		143,097
Persistent Systems Ltd.		13,881		132,420
Pfizer Ltd.		3,681		212,447
Phoenix Mills Ltd. (The)		19,253		201,984
PI Industries Ltd.		18,776		387,848
PNB Housing Finance Ltd.(c)		18,996		141,085
Polycab India Ltd.(a)		10,228		131,775
Power Finance Corp. Ltd.(a)		199,425		318,302
Prestige Estates Projects Ltd.		38,569		163,335
Procter & Gamble Health Ltd.(a)		1,375		83,091
PVR Ltd.		10,006		252,669
Quess Corp. Ltd.(a)(c)		13,201		95,689
Radico Khaitan Ltd.		17,307		75,440
Rain Industries Ltd.		27,782		40,625
Rajesh Exports Ltd.		25,269		237,464
Ramco Cements Ltd. (The)		23,024		256,983
Raymond Ltd.		9,255		94,663
RBL Bank Ltd.(c)		92,583		482,871
Redington India Ltd.		84,077		134,019
Sadbhav Engineering Ltd.		29,205		52,415
Sanofi India Ltd.		1,850		182,411
Schaeffler India Ltd.		2,671		161,885
Sobha Ltd.		14,589		84,356
Spandana Sphoorty Financial Ltd.(a)		5,863		100,955
SpiceJet Ltd.(a)		50,873		74,745
SRF Ltd.		4,656		207,798
Sterlite Technologies Ltd.		32,867		56,811
Strides Pharma Science Ltd.		15,455		83,493
Sundaram Finance Ltd.		9,772		222,098
Sundram Fasteners Ltd.		20,591		134,016
Sunteck Realty Ltd.		18,879		102,741
Supreme Industries Ltd.		12,017		190,974
Suzlon Energy Ltd.(a)		710,403		22,776
Symphony Ltd.		6,720		107,576
Syngene International Ltd.(c)		33,582		148,348

4

Consolidated Schedule of Investments  (unaudited) (continued) November 30, 2019 iShares^® MSCI Emerging Markets Small-Cap ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
India (continued)
Tata Chemicals Ltd.		24,541	$	231,564
Tata Communications Ltd.		23,008		142,771
Tata Elxsi Ltd.		4,400		49,494
Tata Global Beverages Ltd.		93,432		420,875
TeamLease Services Ltd.(a)		3,320		115,658
Thermax Ltd.		10,047		143,792
Thomas Cook India Ltd.		26,201		57,871
Time Technoplast Ltd.		7,977		5,743
Timken India Ltd.		7,687		92,078
Torrent Power Ltd.		38,260		149,387
TTK Prestige Ltd.		1,446		115,860
Tube Investments of India Ltd.		25,799		169,260
Vakrangee Ltd.		137,910		79,492
Varun Beverages Ltd.		23,307		234,963
V-Guard Industries Ltd.		41,658		137,684
Vinati Organics Ltd.		4,567		126,733
VIP Industries Ltd.		12,737		76,249
V-Mart Retail Ltd.		2,897		70,927
Vodafone Idea Ltd.(a)		2,598,918		248,163
Voltas Ltd.		30,768		300,485
WABCO India Ltd.		1,994		173,216
Welspun India Ltd.		100,657		74,085
Yes Bank Ltd.		565,287		538,200
				28,493,332
Indonesia — 2.1%
AKR Corporindo Tbk PT		581,100		140,074
Alam Sutera Realty Tbk PT(a)		4,709,800		80,138
Aneka Tambang Tbk		2,536,600		134,878
Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT		734,600		81,767
Bank Tabungan Pensiunan Nasional Syariah Tbk PT(a)		576,100		161,741
Bumi Resources Tbk PT(a)		16,500,100		76,037
Ciputra Development Tbk PT		3,004,163		214,051
Global Mediacom Tbk PT(a)		2,483,100		56,686
Hanson International Tbk PT(a)		26,654,000		94,484
Indika Energy Tbk PT		630,500		48,500
Indo Tambangraya Megah Tbk PT		120,700		87,498
Indosat Tbk PT(a)		405,800		82,282
Inti Agri Resources Tbk PT(a)		12,327,500		43,699
Japfa Comfeed Indonesia Tbk PT		1,090,900		128,773
Kresna Graha Investama Tbk PT(a)		3,570,000		127,816
Link Net Tbk PT		409,600		121,384
Lippo Karawaci Tbk PT(a)		8,913,800		154,198
Matahari Department Store Tbk PT		711,100		177,964
Medco Energi Internasional Tbk PT(a)		1,839,866		92,613
Media Nusantara Citra Tbk PT		1,578,900		139,924
Mitra Adiperkasa Tbk PT		2,584,700		185,996
Panin Financial Tbk PT(a)		4,209,100		82,362
Pelayaran Tamarin Samudra Tbk PT(a)		2,447,300		79,813
Perusahaan Perkebunan London Sumatra Indonesia Tbk PT		1,102,100		107,046
PP Persero Tbk PT		956,525		91,550
PP Properti Tbk PT		7,245,769		31,850
Ramayana Lestari Sentosa Tbk PT		932,100		67,074
Sawit Sumbermas Sarana Tbk PT		1,413,600		87,692
Sentul City Tbk PT(a)		6,882,000		38,057
Sitara Propertindo Tbk PT(a)		2,239,400		112,724
Sri Rejeki Isman Tbk PT		4,581,600		79,906
Sugih Energy Tbk PT(a)(d)		1,824,800		517
Summarecon Agung Tbk PT		2,770,100		200,319

Security	Shares		Value
Indonesia (continued)
Surya Citra Media Tbk PT		1,814,200	$	154,345
Timah Tbk PT		1,023,796		51,172
Tower Bersama Infrastructure Tbk PT		2,736,000		212,401
Tunas Baru Lampung Tbk PT		1,032,400		61,849
Waskita Beton Precast Tbk PT		3,668,000		76,455
Waskita Karya Persero Tbk PT		1,504,000		130,620
Wijaya Karya Persero Tbk PT		983,348		120,958
				4,217,213
Malaysia — 3.3%
Aeon Co. M Bhd		238,000		85,478
AEON Credit Service M Bhd(b)		35,600		125,472
Alliance Bank Malaysia Bhd		269,300		174,095
Berjaya Sports Toto Bhd		261,100		165,669
Bermaz Auto Bhd		289,300		146,157
Bumi Armada Bhd(a)		898,300		108,618
Bursa Malaysia Bhd		186,250		269,352
Cahya Mata Sarawak Bhd		192,900		110,849
Carlsberg Brewery Malaysia Bhd(b)		49,900		326,653
DRB-Hicom Bhd(b)		232,600		128,650
Eastern & Oriental Bhd		1,200		161
Ekovest Bhd		434,600		81,166
FGV Holdings Bhd(a)		490,100		156,072
Frontken Corp. Bhd		220,400		104,487
Globetronics Technology Bhd		191,066		96,071
Hengyuan Refining Co. Bhd(a)		38,600		40,388
Hibiscus Petroleum Bhd(a)(b)		418,600		89,704
IGB REIT		531,200		244,201
Inari Amertron Bhd(b)		773,850		337,222
Kossan Rubber Industries		188,100		188,258
KPJ Healthcare Bhd		698,700		151,400
Magnum Bhd		252,200		164,852
Mah Sing Group Bhd		369,757		61,530
Malaysia Building Society Bhd		548,900		110,398
Malaysian Pacific Industries Bhd		28,900		76,947
Malaysian Resources Corp. Bhd		598,100		106,688
My EG Services Bhd(b)		627,100		177,177
Padini Holdings Bhd(b)		127,900		105,652
Pentamaster Corp. Bhd(a)		115,100		123,464
Pos Malaysia Bhd(b)		144,700		49,198
Sapura Energy Bhd		1,952,200		128,542
Scientex BHD(b)		88,200		196,610
Serba Dinamik Holdings Bhd		199,200		207,952
Sime Darby Property Bhd		721,600		135,629
SKP Resources Bhd		295,200		86,938
SP Setia Bhd Group		467,200		145,423
Sunway Bhd		589,774		248,534
Sunway Construction Group Bhd		186,020		81,062
Sunway REIT		472,100		210,249
Supermax Corp. Bhd		279,000		90,851
Syarikat Takaful Malaysia Keluarga Bhd		72,400		100,370
TIME dotCom Bhd		133,900		291,749
UMW Holdings Bhd		96,600		101,075
Velesto Energy Bhd(a)		844,700		77,866
ViTrox Corp. Bhd		59,300		110,038
VS Industry Bhd(b)		441,025		141,500
WCT Holdings Bhd(a)		243,115		49,770
Yinson Holdings Bhd(b)		171,400		266,754
				6,776,941

5

Consolidated Schedule of Investments  (unaudited) (continued) November 30, 2019 iShares^® MSCI Emerging Markets Small-Cap ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
Mexico — 2.8%
Banco del Bajio SA(c)		209,500	$	325,546
Bolsa Mexicana de Valores SAB de CV		139,800		304,821
Concentradora Fibra Danhos SA de CV		81,400		119,896
Concentradora Fibra Hotelera Mexicana SA de CV(c)		270,400		127,399
Concentradora Hipotecaria SAPI de CV		140,400		144,031
Consorcio ARA SAB de CV		334,300		69,583
Controladora Vuela Cia. de Aviacion SAB de CV, Class A(a)		196,500		208,836
Corp Inmobiliaria Vesta SAB de CV		199,200		336,706
Credito Real SAB de CV SOFOM ER		77,500		91,345
Genomma Lab Internacional SAB de CV, Class B(a)(b)		219,100		204,773
Gentera SAB de CV		317,200		303,938
Grupo Aeromexico SAB de CV(a)(b)		114,500		90,459
Grupo Aeroportuario del Centro Norte SAB de CV		96,700		643,791
Grupo Cementos de Chihuahua SAB de CV		51,300		269,788
Grupo Comercial Chedraui SA de CV		101,000		140,066
Grupo Herdez SAB de CV(b)		70,600		138,265
Hoteles City Express SAB de CV(a)(b)		130,600		107,062
La Comer SAB de CV(a)(b)		139,500		185,304
Macquarie Mexico Real Estate Management SA de CV(c)		232,600		324,236
PLA Administradora Industrial S. de RL de CV		235,500		384,783
Prologis Property Mexico SA de CV		105,000		223,291
Qualitas Controladora SAB de CV		53,000		225,879
Regional SAB de CV		69,100		377,782
Telesites SAB de CV(a)(b)		416,900		301,366
Unifin Financiera SAB de CV		37,500		57,445
				5,706,391
Pakistan — 0.6%
Bank Alfalah Ltd.		203,850		59,929
Engro Corp. Ltd./Pakistan		99,930		217,549
Engro Fertilizers Ltd.		178,000		79,091
Fauji Fertilizer Co. Ltd.		158,000		108,258
Hub Power Co. Ltd. (The)(a)		235,904		137,961
Indus Motor Co. Ltd.		4,100		32,285
Lucky Cement Ltd.		44,450		120,338
Millat Tractors Ltd.		6,558		30,971
Nishat Mills Ltd.		55,964		36,142
Pakistan Oilfields Ltd.		44,200		120,006
Pakistan State Oil Co. Ltd.		24,308		28,693
Searle Co. Ltd. (The)		31,247		36,978
SUI Northern Gas Pipeline		61,500		29,778
United Bank Ltd./Pakistan		140,800		148,278
				1,186,257
Philippines — 1.0%
Alliance Global Group Inc.		1,172,700		255,241
Bloomberry Resorts Corp.		1,155,100		253,229
Cebu Air Inc.		71,050		129,334
Cosco Capital Inc.		881,600		118,148
D&L Industries Inc.		863,400		149,011
DoubleDragon Properties Corp.(a)		241,610		93,192
Filinvest Land Inc.		3,277,000		99,313
First Gen Corp.		367,200		180,655
Manila Water Co. Inc.		365,000		134,321
Megawide Construction Corp.(a)		187,500		63,023
Petron Corp.		997,200		89,093
Pilipinas Shell Petroleum Corp.		124,100		80,836
Semirara Mining & Power Corp.		291,400		125,013
Vista Land & Lifescapes Inc.		1,314,000		196,525

Security	Shares		Value
Philippines (continued)
Wilcon Depot Inc.		491,900	$	179,084
				2,146,018
Poland — 1.1%
Alior Bank SA(a)		26,572		200,425
Asseco Poland SA		23,399		338,925
Budimex SA		3,686		149,851
Ciech SA(a)(b)		8,081		74,383
Enea SA(a)		65,302		149,353
Energa SA(a)		67,342		118,549
Eurocash SA(b)		24,318		138,532
Famur SA		101,649		81,479
Grupa Azoty SA(a)		14,637		120,433
Jastrzebska Spolka Weglowa SA		18,244		97,493
KRUK SA(b)		5,258		203,004
PKP Cargo SA		10,469		55,141
PLAY Communications SA(c)		34,421		287,791
Tauron Polska Energia SA(a)		324,010		147,795
Warsaw Stock Exchange		8,727		86,689
				2,249,843
Qatar — 1.1%
Doha Bank QPSC		461,889		318,979
Gulf International Services QSC(a)		281,755		136,897
Gulf Warehousing Co.		111,376		159,608
Medicare Group		47,418		111,960
Qatar Aluminum Manufacturing Co.		778,636		170,456
Qatar Gas Transport Co. Ltd.		738,081		509,716
Qatar National Cement Co. QSC		59,766		93,479
Qatar Navigation QSC		178,639		299,398
United Development Co. QSC		517,621		199,221
Vodafone Qatar QSC		564,075		184,766
				2,184,480
Russia — 1.0%
Aeroflot PJSC		156,286		250,077
Credit Bank of Moscow PJSC		2,847,100		263,092
Detsky Mir PJSC(c)		92,090		135,577
LSR Group PJSC, GDR(f)		78,696		177,066
M.Video PJSC(a)		21,390		164,178
Mechel PJSC, ADR(a)		37,359		69,114
Mosenergo PJSC		2,936,432		111,413
Raspadskaya OJSC		180		287
Rostelecom PJSC		241,990		303,099
Safmar Financial Investment		18,620		145,437
Sistema PJSFC, GDR(f)		53,371		249,136
TMK PJSC, GDR(f)		23,599		75,045
Unipro PJSC		4,535,000		191,363
				2,134,884
Saudi Arabia — 2.4%
Abdullah Al Othaim Markets Co.		13,660		274,293
Al Hammadi Co. for Development and Investment(a)		20,652		105,848
Al Rajhi Co for Cooperative Insurance(a)		5,369		85,904
Aldrees Petroleum and Transport Services Co.		8,800		129,301
Arabian Cement Co./Saudi Arabia		14,660		129,008
Arriyadh Development Co.		30,428		113,922
City Cement Co.		27,716		123,576
Dallah Healthcare Co.		8,978		103,666
Eastern Province Cement Co.		12,608		109,942
Fawaz Abdulaziz Al Hokair & Co.(a)		21,979		132,695
Herfy Food Services Co.		6,746		94,444
Leejam Sports Co. JSC		8,303		159,418

6

Consolidated Schedule of Investments  (unaudited) (continued) November 30, 2019 iShares^® MSCI Emerging Markets Small-Cap ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
Saudi Arabia (continued)
Maharah Human Resources Co.		4,579	$	104,401
Mobile Telecommunications Co.(a)		74,552		218,288
Mouwasat Medical Services Co.		15,225		339,416
National Agriculture Development Co. (The)(a)		12,367		84,425
National Gas & Industrialization Co.		18,924		150,130
National Medical Care Co.		6,231		80,089
Qassim Cement Co. (The)		16,377		248,494
Saudi Chemical Co. Holding		16,032		94,995
Saudi Pharmaceutical Industries & Medical Appliances Corp.		20,441		138,726
Saudi Public Transport Co.(a)		18,247		80,676
Saudi Real Estate Co.(a)		25,012		80,705
Saudi Research & Marketing Group(a)		11,236		195,057
Saudia Dairy & Foodstuff Co.		5,447		178,952
Seera Group Holding		52,791		265,504
Southern Province Cement Co.		19,264		288,703
United Electronics Co.		8,914		162,829
United International Transportation Co.		10,389		94,748
Yamama Cement Co.(a)		36,533		216,081
Yanbu Cement Co.		24,759		226,793
				4,811,029
South Africa — 4.9%
Adcock Ingram Holdings Ltd.		16,754		62,897
Advtech Ltd.		169,293		123,622
AECI Ltd.		34,049		244,638
African Rainbow Minerals Ltd.		32,286		334,450
Alexander Forbes Group Holdings Ltd.		283,652		104,533
Astral Foods Ltd.		12,494		169,841
Attacq Ltd.		183,122		160,589
AVI Ltd.		97,692		578,898
Barloworld Ltd.		61,619		478,848
Brait SE(a)(b)		109,200		117,152
Cashbuild Ltd.		6,424		93,381
City Lodge Hotels Ltd.(b)		12,074		66,744
Coronation Fund Managers Ltd.		61,704		177,284
Curro Holdings Ltd.		47,032		54,694
DataTec Ltd.		62,885		148,661
Dis-Chem Pharmacies Ltd.(c)		105,834		187,356
Emira Property Fund Ltd.		153,117		137,411
Equites Property Fund Ltd.		116,266		159,645
Famous Brands Ltd.(b)		23,934		130,344
Grindrod Ltd.		150,131		52,970
Harmony Gold Mining Co. Ltd.(a)		144,658		444,448
Hosken Consolidated Investments Ltd.		15,878		99,886
Hudaco Industries Ltd.		10,975		80,951
Hyprop Investments Ltd.		67,251		270,509
Imperial Logistics Ltd.		46,270		171,622
Investec Property Fund Ltd.		99,565		104,641
JSE Ltd.		26,403		221,632
KAP Industrial Holdings Ltd.		822,282		232,885
Massmart Holdings Ltd.		34,261		100,050
Motus Holdings Ltd.		48,270		233,724
Murray & Roberts Holdings Ltd.		43,742		30,359
Nampak Ltd.(a)		208,413		78,228
Netcare Ltd.		336,109		458,758
Oceana Group Ltd.(b)		29,061		123,538
Omnia Holdings Ltd.(b)		54,877		129,206
Pioneer Foods Group Ltd.		35,609		261,849
PPC Ltd.(a)		493,608		102,070
Resilient REIT Ltd.		87,257		397,191

Security	Shares		Value
South Africa (continued)
Reunert Ltd.		52,947	$	248,962
Royal Bafokeng Platinum Ltd.(a)		32,181		96,172
SA Corporate Real Estate Ltd.		617,799		136,183
Sappi Ltd.		162,513		441,967
Steinhoff International Holdings NV(a)(b)		1,125,773		76,061
Stor-Age Property REIT Ltd.		79,020		77,602
Sun International Ltd./South Africa(a)		40,898		110,528
Super Group Ltd./South Africa(a)		113,340		220,446
Tongaat Hulett Ltd.(a)(d)		42,716		32,748
Transaction Capital Ltd.		103,240		154,300
Trencor Ltd.(a)		55,199		108,718
Truworths International Ltd.		120,043		418,631
Tsogo Sun Gaming Ltd.(a)		148,059		124,587
Tsogo Sun Hotels Ltd.(a)		166,791		42,799
Vukile Property Fund Ltd.		230,393		309,748
Wilson Bayly Holmes-Ovcon Ltd.		15,648		150,083
Zeder Investments Ltd.		311,139		104,046
				9,979,086
South Korea — 15.3%
ABLBio Inc.(a)(b)		7,727		117,428
Advanced Process Systems Corp.		3,943		95,975
Aekyung Industrial Co. Ltd.		2,157		50,677
AfreecaTV Co. Ltd.		2,615		150,105
Ahnlab Inc.		2,266		121,055
AK Holdings Inc.		1,786		47,631
Alteogen Inc.(a)		2,695		113,856
Amicogen Inc.(a)		4,418		92,014
Ananti Inc.(a)		9,302		86,235
Anterogen Co. Ltd.(a)		1,761		61,575
Asiana Airlines Inc.(a)		35,260		158,814
BGF Co. Ltd.		11,684		55,099
BH Co. Ltd.(a)		7,017		123,569
Binex Co. Ltd.(a)		10,691		69,243
Binggrae Co. Ltd.		2,434		111,896
Boryung Pharmaceutical Co. Ltd.		7,135		95,141
Bukwang Pharmaceutical Co. Ltd.		13,041		161,198
Cafe24 Corp.(a)		2,053		85,082
Caregen Co. Ltd.(a)(d)		2,119		111,879
Celltrion Pharm Inc.(a)		4,866		146,044
Chabiotech Co. Ltd.(a)		12,759		155,551
Chong Kun Dang Pharmaceutical Corp.		2,322		180,271
CJ CGV Co. Ltd.		4,887		152,053
CMG Pharmaceutical Co. Ltd.(a)		33,483		111,690
Com2uSCorp.		3,078		262,678
Cosmax Inc.		2,398		164,245
CrystalGenomics Inc.(a)(b)		11,378		131,972
Cuckoo Homesys Co. Ltd.		2,382		91,053
Dae Hwa Pharmaceutical Co. Ltd.		4,729		46,243
Daea TI Co. Ltd.(b)		19,483		83,135
Daeduck Electronics Co.		17,259		148,312
Daesang Corp.		6,833		133,924
Daewoong Co. Ltd.		8,208		87,559
Daewoong Pharmaceutical Co. Ltd.		1,462		164,005
Daishin Securities Co. Ltd.(b)		10,662		108,773
Daou Technology Inc.		10,180		162,463
DB HiTek Co. Ltd.		11,905		191,504
Dentium Co. Ltd.		2,482		118,095
DGB Financial Group Inc.		51,665		310,126
DIO Corp.(a)		3,599		125,385
Dong-A Socio Holdings Co. Ltd.		1,545		134,075

7

Consolidated Schedule of Investments  (unaudited) (continued) November 30, 2019 iShares^® MSCI Emerging Markets Small-Cap ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
South Korea (continued)
Dong-A ST Co. Ltd.		1,817	$	166,909
Dongjin Semichem Co. Ltd.		10,315		126,629
DongKook Pharmaceutical Co. Ltd.		1,822		117,081
Dongkuk Steel Mill Co. Ltd.(a)		20,532		103,603
Dongsuh Cos. Inc.		10,303		150,905
Dongsung Pharmaceutical Co. Ltd.(a)(b)		6,086		80,896
Dongwon F&B Co. Ltd.		429		81,721
Dongwon Industries Co. Ltd.		558		104,877
Doosan Heavy Industries & Construction Co. Ltd.(a)		42,767		197,695
Doosan Infracore Co. Ltd.(a)(b)		44,529		202,070
DoubleUGames Co. Ltd.		2,905		118,669
Douzone Bizon Co. Ltd.		5,833		352,602
Duk San Neolux Co. Ltd.(a)		4,298		76,961
Easy Bio Inc.(b)		15,193		65,601
Ecopro BM Co. Ltd.(a)		2,874		121,296
Ecopro Co. Ltd.(a)		6,233		103,430
Enzychem Lifesciences Corp.(a)		2,182		102,713
Eo Technics Co Ltd.		2,692		205,122
Eugene Corp.		15,252		61,982
Eutilex Co. Ltd.(a)		1,068		49,550
F&F Co. Ltd.		1,851		173,166
Feelux Co. Ltd.(a)(b)		17,618		131,559
Foosung Co. Ltd.(a)(b)		16,526		109,553
GemVax & Kael Co. Ltd.(a)		10,151		218,292
Genexine Co. Ltd.(a)		4,196		185,794
Grand Korea Leisure Co. Ltd.		10,626		175,428
Green Cross Cell Corp.		1,878		65,746
Green Cross Corp./South Korea		1,972		212,034
Green Cross Holdings Corp.		7,121		130,826
Green Cross LabCell Corp.		1,584		43,652
GS Home Shopping Inc.		1,131		143,152
G-treeBNT Co. Ltd.(a)		7,105		174,745
Halla Holdings Corp.		3,094		122,723
Hana Tour Service Inc.		3,328		136,794
Hanall Biopharma Co. Ltd.(a)		9,017		258,414
Handsome Co. Ltd.		4,553		122,195
Hanil Cement Co. Ltd./New		756		61,893
Hanjin Kal Corp.		10,815		328,254
Hanjin Transportation Co. Ltd.		2,430		60,588
Hankook Technology Group Co. Ltd.		9,566		116,219
Hansae Co. Ltd.		6,419		96,735
Hansol Chemical Co. Ltd.		2,932		250,715
Hanssem Co. Ltd.		3,262		175,921
Hanwha Aerospace Co. Ltd.(a)		10,961		356,814
Hanwha General Insurance Co. Ltd.		20,754		50,253
Hanwha Investment & Securities Co. Ltd.(a)		46,686		79,052
Harim Holdings Co. Ltd.		13,438		88,969
HDC Holdings Co. Ltd.		11,913		115,484
Hite Jinro Co. Ltd.		9,843		235,419
HLB Life Science Co. Ltd.(a)(b)		11,748		230,753
HS Industries Co. Ltd.		14,402		137,174
Huchems Fine Chemical Corp.		6,444		117,298
Hugel Inc.(a)		744		240,053
Huons Co. Ltd.		1,880		84,836
Huons Global Co. Ltd.		1,978		54,844
Hwaseung Enterprise Co. Ltd.		6,424		89,740
Hyosung Advanced Materials Corp.(a)		900		78,864
Hyosung Chemical Corp.		710		84,756
Hyosung Corp.		2,976		200,055
Hyosung Heavy Industries Corp.(a)		2,004		43,010

Security	Shares		Value
South Korea (continued)
Hyosung TNC Co. Ltd.		932	$	125,461
Hyundai Bioscience Co. Ltd.(a)		10,370		127,304
Hyundai Construction Equipment Co. Ltd.(b)		3,905		92,075
Hyundai Electric & Energy System Co. Ltd.(a)(b)		3,592		27,400
Hyundai Elevator Co. Ltd.		4,847		291,358
Hyundai Greenfood Co. Ltd.		15,432		152,863
Hyundai Home Shopping Network Corp.		2,361		169,906
Hyundai Livart Furniture Co. Ltd.		5,517		63,991
Hyundai Merchant Marine Co. Ltd.(a)		83,310		254,624
Hyundai Mipo Dockyard Co. Ltd.		7,312		278,576
Hyundai Rotem Co. Ltd.(a)		13,869		177,890
Hyundai Wia Corp.		4,968		223,763
Iljin Materials Co. Ltd.(a)		6,779		225,555
Ilyang Pharmaceutical Co. Ltd.(a)		4,005		72,223
InBody Co. Ltd.		4,050		76,978
Innocean Worldwide Inc.		2,937		159,637
Innox Advanced Materials Co. Ltd.(a)		2,207		91,931
Inscobee Inc.(a)(b)		27,327		69,755
iNtRON Biotechnology Inc.(a)		7,829		87,825
IS Dongseo Co. Ltd.		5,414		153,095
JB Financial Group Co. Ltd.		43,593		199,299
Jeil Pharmaceutical Co. Ltd.		1,961		58,026
Jejuair Co. Ltd.		2,605		55,027
Jin Air Co. Ltd.		4,449		54,240
JW Pharmaceutical Corp.		4,662		121,173
JYP Entertainment Corp.		7,972		149,836
KEPCO Engineering & Construction Co. Inc.		4,485		71,766
KEPCO Plant Service & Engineering Co. Ltd.		7,068		212,731
Kginicis Co. Ltd.		5,968		81,349
KIWOOM Securities Co. Ltd.		3,738		238,303
Koh Young Technology Inc.(b)		3,278		278,081
Kolmar Korea Co. Ltd.		4,308		172,699
Kolmar Korea Holdings Co. Ltd.		3,148		58,634
Kolon Corp.		2,636		40,171
Kolon Industries Inc.		5,655		228,613
Komipharm International Co. Ltd.(a)		11,761		134,921
Korea Electric Terminal Co. Ltd.		1,718		59,562
Korea Line Corp.(a)		4,275		79,083
Korea Petrochemical Ind. Co Ltd.		1,089		108,333
Korea REIT Co. Ltd.		67,198		122,602
Korean Reinsurance Co.		30,912		221,146
KT Skylife Co. Ltd.		10,250		77,234
Kuk-Il Paper Manufacturing Co. Ltd.(a)		26,198		151,934
Kumho Tire Co. Inc.(a)		34,409		123,664
Kyung Dong Navien Co. Ltd.		2,142		79,159
L&F Co. Ltd.(b)		4,378		75,058
LEENO Industrial Inc.		3,250		162,342
LegoChem Biosciences Inc.(a)		2,647		113,845
LF Corp.		6,979		105,765
LG Hausys Ltd.		2,418		118,121
LG International Corp.		10,949		137,656
LIG Nex1 Co. Ltd.		3,368		97,662
Lock&Lock Co. Ltd.		7,068		84,973
Lotte Chilsung Beverage Co. Ltd.		1,155		131,522
LOTTE Fine Chemical Co. Ltd.		6,031		229,517
LOTTE Himart Co. Ltd.		2,905		76,858
Lotte Tour Development Co. Ltd.(a)		4,174		46,823
LS Corp.		5,950		222,404
LS Industrial Systems Co. Ltd.		4,674		199,441
Maeil Dairies Co. Ltd.		1,490		105,965

8

Consolidated Schedule of Investments  (unaudited) (continued) November 30, 2019 iShares^® MSCI Emerging Markets Small-Cap ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
South Korea (continued)
Mando Corp.		10,061	$	295,999
Mcnex Co. Ltd.		3,977		90,742
Medipost Co. Ltd.(a)		5,086		145,111
MeereCo. Inc.		1,117		31,539
MegaStudyEdu Co. Ltd.		2,661		83,807
Meritz Financial Group Inc.		14,297		151,304
Meritz Fire & Marine Insurance Co. Ltd.		15,801		246,149
Mezzion Pharma Co. Ltd.(a)(b)		1,978		234,115
Mirae Asset Life Insurance Co. Ltd.		27,956		100,591
Mirae Asset Maps Asia Pacific Real Estate 1 Investment		23,978		103,533
Modetour Network Inc.		4,851		67,560
Muhak Co. Ltd.		6,418		48,686
Namhae Chemical Corp.(b)		8,117		56,145
Naturecell Co. Ltd.(a)(b)		15,265		134,408
NEPES Corp.		5,303		101,243
Nexen Tire Corp.		12,069		93,290
NHN Corp.(a)		3,145		180,262
NHN KCP Corp.		4,548		74,699
NICE Holdings Co. Ltd.		6,784		115,733
NICE Information Service Co. Ltd.		10,638		125,190
NKMax Co. Ltd.(a)		9,554		84,527
NongShim Co. Ltd.		963		191,190
Orion Holdings Corp.		8,376		123,390
Oscotec Inc.(a)		6,370		122,422
Osstem Implant Co. Ltd.(a)		3,716		125,686
Paradise Co. Ltd.		14,976		238,368
Partron Co. Ltd.		11,793		118,314
Pharmicell Co. Ltd.(a)(b)		17,692		114,886
Poongsan Corp.		6,065		109,115
Posco ICT Co. Ltd.		22,340		92,867
Prostemics Co. Ltd.(a)		2,669		7,965
RFHIC Corp.		3,995		112,969
S&T Motiv Co. Ltd.		2,799		95,855
Sam Chun Dang Pharm Co. Ltd.		4,318		113,329
Samjin Pharmaceutical Co. Ltd.		3,270		68,797
Samwha Capacitor Co. Ltd.(b)		2,667		99,802
Samyang Corp.		1,887		83,714
Samyang Foods Co. Ltd.(b)		1,252		91,689
Samyang Holdings Corp.		1,310		72,978
Sangsangin Co. Ltd.(a)		12,889		89,480
Seegene Inc.(a)		6,493		154,746
Seojin System Co. Ltd.		4,370		91,385
Seoul Semiconductor Co. Ltd.		11,710		131,361
SFA Engineering Corp.		5,707		206,073
Shinsegae International Inc.		831		149,505
Silicon Works Co. Ltd.		3,669		116,486
SillaJen Inc.(a)		19,358		237,642
SK Chemicals Co. Ltd.		2,807		166,830
SK Discovery Co. Ltd.		4,651		104,152
SK Gas Ltd.		1,475		107,395
SK Materials Co. Ltd.		1,469		216,404
SK Networks Co. Ltd.		46,828		226,776
SKC Co. Ltd.		6,607		265,421
SKCKOLONPI Inc.		4,781		137,826
SL Corp.		4,320		68,577
SM Entertainment Co. Ltd.(a)		5,874		190,968
Songwon Industrial Co. Ltd.		5,115		66,474
Soulbrain Co. Ltd.(b)		3,048		181,670
SPC Samlip Co. Ltd.		744		57,068
STCUBE(a)(b)		7,208		61,636

Security	Shares		Value
South Korea (continued)
Taekwang Industrial Co. Ltd.		160	$	145,485
Taeyoung Engineering & Construction Co. Ltd.		11,930		116,154
Taihan Fiberoptics Co. Ltd.(a)		21,127		58,490
Telcon RF Pharmaceutical Inc.(a)		23,887		147,025
Theragen Etex Co. Ltd.(a)		9,250		71,735
Tokai Carbon Korea Co. Ltd.		1,697		74,710
Tongyang Inc.		67,365		81,273
Tongyang Life Insurance Co. Ltd.		15,651		52,539
Toptec Co. Ltd.		6,767		54,599
Vieworks Co. Ltd.		2,585		61,498
Webzen Inc.(a)		5,955		79,659
Wemade Co. Ltd.		3,040		74,639
WONIK IPS Co. Ltd.		8,644		223,208
YG Entertainment Inc.(b)		3,662		77,044
Young Poong Corp.		189		100,969
Youngone Corp.		7,730		232,656
Yuanta Securities Korea Co. Ltd.(a)		35,450		83,887
Yungjin Pharmaceutical Co. Ltd.(a)		34,362		189,098
Yuyang DNU Co. Ltd.(a)(b)		17,278		76,944
				31,074,916
Spain — 0.0%
Banco Bilbao Vizcaya Argentaria SA, ADR		20,968		109,663
Taiwan — 20.4%
AcBel Polytech Inc.		158,000		122,214
A-DATA Technology Co. Ltd.		70,000		118,844
Advanced Ceramic X Corp.		13,000		126,547
Advanced Wireless Semiconductor Co.		41,000		149,834
AmTRAN Technology Co. Ltd.(a)		376,312		130,739
Arcadyan Technology Corp.		43,541		136,429
Ardentec Corp.		132,000		119,408
Asia Optical Co. Inc.		71,000		182,442
Asia Pacific Telecom Co. Ltd.(a)		647,000		171,343
Asia Vital Components Co. Ltd.		92,000		119,559
ASMedia Technology Inc.		8,000		148,670
ASPEED Technology Inc.		9,000		251,323
AURAS Technology Co. Ltd.		19,000		125,793
BES Engineering Corp.		491,000		125,846
Bizlink Holding Inc.		34,770		259,261
Brighton-Best International Taiwan Inc.		172,000		170,250
Capital Securities Corp.		607,530		211,069
Career Technology MFG. Co. Ltd.		129,990		155,082
Casetek Holdings Ltd.		52,816		88,631
Cathay Real Estate Development Co. Ltd.		167,300		114,054
Center Laboratories Inc.		82,474		165,702
Century Iron & Steel Industrial Co. Ltd.		34,000		79,566
Charoen Pokphand Enterprise		55,000		117,353
Cheng Loong Corp.		275,000		169,450
Cheng Uei Precision Industry Co. Ltd.		110,000		155,569
Chicony Power Technology Co. Ltd.		49,000		102,784
Chilisin Electronics Corp.		60,459		191,421
China Bills Finance Corp.		316,000		154,839
China General Plastics Corp.		115,966		80,388
China Man-Made Fiber Corp.		430,223		111,114
China Motor Corp.		79,200		101,886
China Petrochemical Development Corp.		927,600		297,034
China Steel Chemical Corp.		63,000		255,011
Chin-Poon Industrial Co. Ltd.		118,000		120,087
Chipbond Technology Corp.		182,000		374,612
ChipMOS Technologies Inc.		170,000		190,836

9

Consolidated Schedule of Investments  (unaudited) (continued) November 30, 2019 iShares^® MSCI Emerging Markets Small-Cap ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
Taiwan (continued)
Chlitina Holding Ltd.		15,000	$	117,501
Chong Hong Construction Co. Ltd.		72,424		194,409
Chroma ATE Inc.		106,000		484,653
Chung Hung Steel Corp.		349,000		111,642
Chunghwa Precision Test Tech Co. Ltd.		6,000		173,449
Cleanaway Co. Ltd.		34,000		173,842
Clevo Co.		132,000		164,402
CMC Magnetics Corp.(a)		316,238		104,167
Compeq Manufacturing Co. Ltd.		297,000		476,497
Concraft Holding Co. Ltd.		18,869		105,135
Coretronic Corp.		116,400		152,412
CSBC Corp. Taiwan(a)		61,455		53,578
CTCI Corp.		177,000		218,418
Cub Elecparts Inc.		16,992		137,560
Darfon Electronics Corp.		66,000		85,879
Darwin Precisions Corp.		112,000		54,879
E Ink Holdings Inc.		254,000		268,898
Egis Technology Inc.		18,000		136,871
Elan Microelectronics Corp.		82,000		240,271
Elite Material Co. Ltd.		82,000		327,887
Elite Semiconductor Memory Technology Inc.		127,000		132,159
eMemory Technology Inc.		21,000		218,875
Ennoconn Corp.		16,372		137,638
Epistar Corp.		322,000		346,163
Eternal Materials Co. Ltd.		279,399		240,842
Everlight Electronics Co. Ltd.		116,000		126,606
Far Eastern Department Stores Ltd.		284,000		244,808
Far Eastern International Bank		763,518		301,548
Faraday Technology Corp.		71,000		129,152
Farglory Land Development Co. Ltd.		90,000		112,830
Feng Hsin Steel Co. Ltd.		161,000		285,479
Firich Enterprises Co. Ltd.		82,155		101,379
FLEXium Interconnect Inc.		86,418		320,061
Formosa Sumco Technology Corp.		23,000		81,415
Foxsemicon Integrated Technology Inc.		19,200		105,406
Fulgent Sun International Holding Co. Ltd.		31,000		127,005
General Interface Solution Holding Ltd.		73,000		252,421
Genius Electronic Optical Co. Ltd.		21,585		288,644
Getac Technology Corp.		126,000		193,891
Gigabyte Technology Co. Ltd.		156,000		257,184
Ginko International Co. Ltd.		13,000		89,690
Global Unichip Corp.		24,000		209,633
Goldsun Building Materials Co. Ltd.		326,000		145,314
Gourmet Master Co. Ltd.		28,821		115,717
Grand Pacific Petrochemical(a)		279,000		166,428
Grape King Bio Ltd.		38,000		238,508
Great Wall Enterprise Co. Ltd.		193,789		251,521
Greatek Electronics Inc.		101,000		152,110
Hannstar Board Corp.		85,000		120,073
HannStar Display Corp.		755,320		170,074
Holtek Semiconductor Inc.		59,000		131,109
Holy Stone Enterprise Co. Ltd.		42,050		135,754
Hota Industrial Manufacturing Co. Ltd.		62,192		232,375
Hsin Kuang Steel Co. Ltd.		86,000		78,924
HTC Corp.		208,000		238,947
Huaku Development Co. Ltd.		68,080		209,748
Hung Sheng Construction Ltd.(a)		199,400		146,721
IBF Financial Holdings Co. Ltd.		675,869		242,565
International CSRC Investment Holdings Co.		217,945		218,584
International Games System Co. Ltd.		19,000		230,413

Security	Shares		Value
Taiwan (continued)
ITEQ Corp.		55,600	$	254,214
Jentech Precision Industrial Co. Ltd.		20,000		127,825
Jih Sun Financial Holdings Co. Ltd.		473,444		149,433
Johnson Health Tech Co. Ltd.		29,000		84,594
Kenda Rubber Industrial Co. Ltd.		166,341		166,284
Kindom Development Co. Ltd.		104,000		105,498
King Slide Works Co. Ltd.		18,000		210,026
King Yuan Electronics Co. Ltd.		311,000		376,130
King’s Town Bank Co. Ltd.		252,000		270,084
Kinpo Electronics		468,000		182,534
Kinsus Interconnect Technology Corp.		80,000		139,231
LandMark Optoelectronics Corp.		22,400		186,480
Lealea Enterprise Co. Ltd.		234,590		72,736
Lien Hwa Industrial Holdings Corp.		227,068		264,573
Longchen Paper & Packaging Co. Ltd.		195,751		84,689
Lotes Co. Ltd.		21,968		218,524
Lotus Pharmaceutical Co. Ltd.(a)		27,000		98,671
Lung Yen Life Service Corp.		71,000		149,398
Machvision Inc.		10,000		95,213
Macronix International		549,000		594,695
Makalot Industrial Co. Ltd.		60,036		299,093
Mercuries & Associates Holding Ltd.		119,436		83,772
Mercuries Life Insurance Co. Ltd.(a)		352,246		136,232
Merida Industry Co. Ltd.		65,000		372,823
Merry Electronics Co. Ltd.		55,224		283,265
Mitac Holdings Corp.		261,985		243,433
momo.com Inc.		14,000		128,480
Nan Kang Rubber Tire Co. Ltd.		142,000		224,329
Nan Ya Printed Circuit Board Corp.		68,000		114,112
OBI Pharma Inc.(a)		39,184		181,726
On-Bright Electronics Inc.		11,000		65,256
Oriental Union Chemical Corp.		186,000		128,631
Pan Jit International Inc.		99,900		85,623
Pan-International Industrial Corp.		149,722		120,227
Parade Technologies Ltd.		21,000		412,284
PChome Online Inc.(a)		29,305		110,937
PharmaEngine Inc.		31,756		73,066
PharmaEssentia Corp.(a)		51,000		186,378
Pharmally International Holding Co. Ltd.		21,603		151,169
Pixart Imaging Inc.		39,635		168,878
Poya International Co. Ltd.		16,453		232,959
President Securities Corp.		269,741		122,005
Primax Electronics Ltd.		116,000		237,623
Prince Housing & Development Corp.		461,917		169,564
Qisda Corp.		434,000		314,364
Radiant Opto-Electronics Corp.		133,000		510,021
Radium Life Tech Co. Ltd.		243,341		93,714
Rexon Industrial Corp. Ltd.		40,000		103,309
RichWave Technology Corp.		15,000		82,595
Ritek Corp.(a)		548,218		125,418
Roo Hsing Co. Ltd.(a)		172,000		67,367
Run Long Construction Co. Ltd.		65,000		125,055
Sanyang Motor Co. Ltd.		182,820		126,132
ScinoPharm Taiwan Ltd.		3,708		3,488
SDI Corp.		41,000		81,972
Sercomm Corp.		68,000		168,716
Shin Zu Shing Co. Ltd.		47,000		192,557
Shinkong Synthetic Fibers Corp.		374,135		144,084
Sigurd Microelectronics Corp.		119,125		136,263
Silergy Corp.		21,000		611,199

10

Consolidated Schedule of Investments  (unaudited) (continued) November 30, 2019 iShares^® MSCI Emerging Markets Small-Cap ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
Taiwan (continued)
Simplo Technology Co. Ltd.		48,600	$	485,833
Sinbon Electronics Co. Ltd.		64,000		245,424
Sino-American Silicon Products Inc.		148,000		421,049
Sinyi Realty Inc.		116,778		120,183
Sitronix Technology Corp.		34,000		188,329
Soft-World International Corp.		28,140		72,954
Sporton International Inc.		23,330		157,901
St. Shine Optical Co. Ltd.		14,000		222,546
Sunny Friend Environmental Technology Co. Ltd.		20,000		157,978
Supreme Electronics Co. Ltd.		131,000		127,305
TA Chen Stainless Pipe		268,188		255,790
Taichung Commercial Bank Co. Ltd.		790,156		309,479
TaiDoc Technology Corp.		16,000		65,551
TaiMed Biologics Inc.(a)		54,000		241,589
Tainan Spinning Co. Ltd.		465,190		160,855
Taiwan Cogeneration Corp.		149,000		142,844
Taiwan Fertilizer Co. Ltd.		231,000		367,201
Taiwan Glass Industry Corp.		374,000		139,742
Taiwan Hon Chuan Enterprise Co. Ltd.		96,004		184,705
Taiwan Paiho Ltd.		78,050		198,256
Taiwan Secom Co. Ltd.		103,450		299,054
Taiwan Semiconductor Co. Ltd.		71,000		116,353
Taiwan Shin Kong Security Co. Ltd.		154,640		189,052
Taiwan Styrene Monomer		190,000		132,020
Taiwan Surface Mounting Technology Corp.		74,000		269,219
Taiwan TEA Corp.		285,000		152,726
Taiwan Union Technology Corp.		69,000		303,043
TCI Co. Ltd.		27,528		284,208
Teco Electric and Machinery Co. Ltd.		596,000		529,378
Test Research Inc.		52,000		87,262
Ton Yi Industrial Corp.		398,000		155,884
Tong Hsing Electronic Industries Ltd.		42,000		174,825
Tong Yang Industry Co. Ltd.		111,133		164,639
Topco Scientific Co. Ltd.		47,000		153,275
TPK Holding Co. Ltd.(a)		93,000		168,866
Transcend Information Inc.		64,000		149,981
Tripod Technology Corp.		126,000		522,410
TSRC Corp.		211,000		168,742
TTY Biopharm Co. Ltd.		64,450		178,286
Tung Ho Steel Enterprise Corp.		237,000		175,553
TXC Corp.		94,000		126,163
U-Ming Marine Transport Corp.		144,000		159,289
Unimicron Technology Corp.		376,000		568,735
Union Bank of Taiwan(a)		398,530		144,989
Unitech Printed Circuit Board Corp.		169,420		196,571
United Integrated Services Co. Ltd.		44,400		255,394
United Renewable Energy Co. Ltd.(a)		614,563		144,624
UPC Technology Corp.		289,741		101,137
USI Corp.		371,070		166,620
Visual Photonics Epitaxy Co. Ltd.		49,425		192,772
Voltronic Power Technology Corp.		17,080		392,985
Wafer Works Corp.		154,681		169,584
Wah Lee Industrial Corp.		87,000		161,394
Walsin Lihwa Corp.		805,000		374,658
Wistron NeWeb Corp.		87,481		215,043
WT Microelectronics Co. Ltd.		158,757		222,183
XinTec Inc.(a)		54,000		116,812
Xxentria Technology Materials Corp.		53,000		117,776
Yang Ming Marine Transport Corp.(a)		372,820		89,079
YFY Inc.		500,000		212,222

Security	Shares		Value
Taiwan (continued)
Yieh Phui Enterprise Co. Ltd.		451,797	$	135,937
Yulon Finance Corp.		40,800		153,783
Yulon Motor Co. Ltd.		284,000		178,253
YungShin Global Holding Corp.		94,200		130,445
Yungtay Engineering Co. Ltd.		44,000		90,277
				41,511,020
Thailand — 4.3%
AEON Thana Sinsap Thailand PCL, NVDR		25,400		161,810
Amata Corp. PCL, NVDR		315,800		221,559
AP Thailand PCL, NVDR(b)		805,600		182,621
Asia Aviation PCL, NVDR(a)(b)		1,292,100		94,072
Bangchak Corp. PCL, NVDR		365,300		302,226
Bangkok Airways PCL, NVDR		394,000		92,576
Bangkok Chain Hospital PCL, NVDR		483,600		278,469
Bangkok Land PCL, NVDR		6,392,700		272,908
Bangkok Life Assurance PCL, NVDR		198,200		142,989
Beauty Community PCL, NVDR(b)		725,300		46,085
Central Plaza Hotel PCL, NVDR		95,200		87,426
CH Karnchang PCL, NVDR		435,800		284,116
Chularat Hospital PCL, NVDR(b)		1,953,800		170,697
CK Power PCL, NVDR(b)		781,000		136,984
Com7 PCL, NVDR		173,100		160,397
Eastern Polymer Group PCL, NVDR		404,300		98,341
Eastern Water Resources Development and Management PCL, NVDR		366,800		132,311
Esso Thailand PCL, NVDR(b)		414,500		101,507
GFPT PCL, NVDR		207,900		85,313
Gunkul Engineering PCL, NVDR(b)		1,535,899		153,501
Hana Microelectronics PCL, NVDR		206,500		213,556
Italian-Thai Development PCL, NVDR		1,583,700		81,760
Jasmine International PCL, NVDR		1,213,800		208,878
KCE Electronics PCL, NVDR(b)		228,500		147,456
Khon Kaen Sugar Industry PCL, NVDR		1,072,030		76,631
Kiatnakin Bank PCL, NVDR		113,832		258,046
LPN Development PCL, NVDR		545,900		83,102
Major Cineplex Group PCL, NVDR(b)		229,200		187,350
MBK PCL, NVDR		397,500		293,348
Mega Lifesciences PCL, NVDR		131,900		133,133
Plan B Media PCL, NVDR(b)		784,800		207,774
Pruksa Holding PCL, NVDR		261,300		134,033
PTG Energy PCL, NVDR		253,000		163,266
Quality Houses PCL, NVDR		3,285,367		291,380
Sansiri PCL, NVDR(b)		5,027,400		184,675
Siam Global House PCL, NVDR(b)		524,079		294,841
Siamgas & Petrochemicals PCL, NVDR(b)		290,600		80,782
Sino-Thai Engineering & Construction PCL, NVDR		307,928		148,780
Sri Trang Agro-Industry PCL, NVDR		274,880		90,057
Star Petroleum Refining PCL, NVS		188,500		62,069
Supalai PCL, NVDR		534,900		308,009
Super Energy Corp. PCL, NVDR		4,797,800		88,914
Taokaenoi Food & Marketing PCL, Class R, NVDR(b)		193,900		69,943
Thai Airways International PCL, NVDR(a)		322,300		73,595
Thai Vegetable Oil PCL, NVDR(b)		223,400		190,371
Thanachart Capital PCL, NVDR		122,500		226,007
Thonburi Healthcare Group PCL, NVDR(b)		182,800		160,311
Tipco Asphalt PCL, NVDR		236,900		174,828
Tisco Financial Group PCL, NVDR		46,840		151,134
TTW PCL, NVDR(b)		509,700		229,401
U City PCL, NVDR(a)(b)		1,004,400		63,819
WHA Corp. PCL, NVDR		3,247,200		453,485

11

Consolidated Schedule of Investments  (unaudited) (continued) November 30, 2019 iShares^® MSCI Emerging Markets Small-Cap ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
Thailand (continued)
Workpoint Entertainment PCL, NVDR		79,600	$	37,933
				8,774,575
Turkey — 1.3%
Aygaz AS		22,069		46,955
Coca-Cola Icecek AS		24,356		146,725
Dogan Sirketler Grubu Holding AS		397,710		122,564
Emlak Konut Gayrimenkul Yatirim Ortakligi AS		613,277		155,895
Enerjisa Enerji AS(c)		87,604		107,989
Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class D(b)		334,393		139,149
Koza Altin Isletmeleri AS(a)		14,472		184,947
Koza Anadolu Metal Madencilik Isletmeleri AS(a)		63,668		101,873
Mavi Giyim Sanayi Ve Ticaret AS, Class B(a)(c)		13,404		105,673
MLP Saglik Hizmetleri AS(a)(b)(c)		33,695		90,757
Otokar Otomotiv Ve Savunma Sanayi AS		4,232		110,157
Pegasus Hava Tasimaciligi AS(a)		11,551		145,908
Petkim Petrokimya Holding AS(a)(b)		334,046		208,797
Sasa Polyester Sanayi AS		61,328		68,018
Soda Sanayii AS		138,125		139,484
Tekfen Holding AS		64,028		210,695
Trakya Cam Sanayii AS		186,656		107,246
Turkiye Halk Bankasi AS(a)		201,569		202,499
Ulker Biskuvi Sanayi AS(a)		51,852		195,545
				2,590,876
United Arab Emirates — 0.7%
Air Arabia PJSC(a)		836,795		330,330
Amanat Holdings PJSC		517,924		123,941
Arabtec Holding PJSC		303,311		101,567
Dana Gas PJSC		1,174,512		297,693
Drake & Scull International PJSC(a)(d)		241,185		18,760
Dubai Financial Market PJSC(a)		683,212		172,052
Dubai Investments PJSC		678,294		232,675
DXB Entertainments PJSC(a)		1,589,507		88,711
				1,365,729
Total Common Stocks — 97.4% (Cost: $203,005,813)				198,167,432
Preferred Stocks
Brazil — 2.2%
Alpargatas SA, Preference Shares, NVS		58,850		442,318
Azul SA, Preference Shares, NVS		81,900		1,028,520
Banco ABC Brasil SA, Preference Shares, NVS		24,869		108,221
Banco do Estado do Rio Grande do Sul SA, Class B, Preference Shares, NVS		58,700		279,458
Bradespar SA, Preference Shares, NVS		66,900		541,111
Cia. de Saneamento do Parana, Preference Shares, NVS		26,900		117,695
Cia. Energetica de Sao Paulo, Class B, Preference Shares, NVS		57,300		407,088

Security	Shares		Value
Brazil (continued)
Cia. Paranaense de Energia, Preference Shares, NVS		29,800	$	445,770
Gol Linhas Aereas Inteligentes SA, Preference Shares, NVS		32,300		260,184
Marcopolo SA, Preference Shares, NVS		157,869		133,291
Metalurgica Gerdau SA, Preference Shares, NVS		215,300		397,167
Randon SA Implemetos e Participacoes, Preference Shares, NVS		52,725		134,546
Unipar Carbocloro SA, Preference Shares, NVS		15,283		108,217
				4,403,586
Colombia — 0.0%
Avianca Holdings SA, Preference Shares, NVS		112,263		56,699
Total Preferred Stocks — 2.2% (Cost: $2,733,160)				4,460,285
Rights
South Korea — 0.0%
Hyundai Electric & Energy System Co. Ltd., (Expires 12/10/19)(a)		2,220		3,383
Total Rights — 0.0% (Cost: $19,516)				3,383
Short-Term Investments
Money Market Funds — 5.2%
BlackRock Cash Funds: Institutional, SL Agency Shares,     1.82%(g)(h)(i)		10,483,481		10,487,674
Total Short-Term Investments — 5.2% (Cost: $10,483,591)				10,487,674
Total Investments in Securities — 104.8% (Cost: $216,242,080)				213,118,774
Other Assets, Less Liabilities — (4.8)%				(9,707,993	)
Net Assets — 100.0%			$	203,410,781

^(a)  Non-income producing security.

^(b)  All or a portion of this security is on loan.

^(c)  Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

^(d)  Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

^(e)  Rounds to less than $1.

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

^(g)  Affiliate of the Fund.

^(h)  Annualized 7-day yield as of period-end.

⁽ⁱ⁾  All or a portion of this security was purchased with cash collateral received from loaned securities.

12

Consolidated Schedule of Investments  (unaudited) (continued) November 30, 2019 iShares^® MSCI Emerging Markets Small-Cap  ETF

Affiliates

Investments in issuers considered to be affiliates of the Fund during the three months ended November 30, 2019, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Shares Held at 08/31/19		Net Activity			Shares Held at 11/30/19		Value at 11/30/19		Income			Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares		17,922,363		(7,438,882	)		10,483,481	$	10,487,674	$	185,552	(a)	$	2,637	$	(3,834	)
BlackRock Cash Funds: Treasury, SL Agency Shares		110,000		(110,000	)		—		—		2,392			—		—
								$	10,487,674	$	187,944		$	2,637	$	(3,834	)

^(a)  Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.

Futures Contracts

Description	Number of Contracts		Expiration Date		Notional Amount (000)		Value/ Unrealized Appreciation (Depreciation)
Long Contracts
MSCI Emerging Markets E-Mini		13		12/20/19	$	675	$	(4,440	)

Fair Value Measurements

Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at iShares.com and on the U.S. Securities and Exchange Commission website at sec.gov.

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of November 30, 2019. The breakdown of the Fund’s investments into major categories is disclosed in the Consolidated Schedule of Investments above.

	Level 1			Level 2		Level 3		Total
Investments
Assets
Common Stocks	$	197,705,467		$	66,437	$	395,528	$	198,167,432
Preferred Stocks		4,460,285			—		—		4,460,285
Rights		3,383			—		—		3,383
Money Market Funds		10,487,674			—		—		10,487,674
	$	212,656,809		$	66,437	$	395,528	$	213,118,774
Derivative financial instruments(a)
Liabilities
Futures Contracts	$	(4,440	)	$	—	$	—	$	(4,440	)

^(a)  Shown at the unrealized appreciation (depreciation) on the contracts.

Portfolio Abbreviations — Equity
ADR	American Depositary Receipt
GDR	Global Depositary Receipt
NVDR	Non-Voting Depositary Receipt
NVS	Non-Voting Shares

13