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

Security	Shares		Value
Common Stocks
Argentina — 0.2%
Banco Macro SA, ADR		294	$	7,600
Globant SA(a)		270		28,890
Grupo Financiero Galicia SA, ADR		570		7,615
Telecom Argentina SA, ADR		1,410		14,636
YPF SA, ADR		936		8,995
				67,736
Brazil — 7.2%
Ambev SA		34,800		148,556
Atacadao SA		1,200		5,338
B2W Cia. Digital(a)		1,368		18,228
B3 SA — Brasil, Bolsa, Balcao		16,800		189,602
Banco Bradesco SA		7,844		57,972
Banco BTG Pactual SA		1,800		29,906
Banco do Brasil SA		6,000		67,843
Banco Santander Brasil SA		2,400		25,031
BB Seguridade Participacoes SA		6,000		48,885
BR Malls Participacoes SA		8,400		30,932
BRF SA(a)		4,200		36,355
CCR SA		9,000		36,589
Centrais Eletricas Brasileiras SA		2,400		19,770
Cia. de Saneamento Basico do Estado de Sao Paulo		3,000		40,726
Cia. Siderurgica Nacional SA		5,400		16,041
Cielo SA		9,000		16,602
Cogna Educacao		11,400		27,635
Cosan SA		1,200		17,624
Embraer SA		6,000		25,542
Energisa SA		600		6,525
Engie Brasil Energia SA		1,800		19,910
Equatorial Energia SA		9,000		43,933
Hapvida Participacoes e Investimentos SA(b)		1,200		15,808
Hypera SA		3,000		23,627
IRB Brasil Resseguros S/A		5,400		47,419
JBS SA		8,400		56,579
Klabin SA		6,600		27,659
Localiza Rent a Car SA		4,800		51,130
Lojas Renner SA		6,630		81,223
Magazine Luiza SA		4,800		51,118
Multiplan Empreendimentos Imobiliarios SA		3,600		24,623
Natura Cosmeticos SA		3,600		28,199
Notre Dame Intermedica Participacoes SA		2,400		32,177
Petrobras Distribuidora SA		4,800		32,285
Petroleo Brasileiro SA		24,600		181,520
Raia Drogasil SA		1,800		48,100
Rumo SA(a)		10,200		58,933
Sul America SA		1,200		15,095
Suzano SA		4,200		38,302
TIM Participacoes SA		6,000		19,213
Ultrapar Participacoes SA		4,800		24,759
Vale SA(a)		24,671		291,620
WEG SA		7,240		52,087
				2,131,021
Chile — 1.0%
Banco de Chile		257,298		26,051
Banco de Credito e Inversiones SA		463		20,645
Banco Santander Chile		487,830		25,978
Cencosud SA		11,370		14,443
Cia. Cervecerias Unidas SA		1,644		15,097
Empresas CMPC SA		10,644		23,018

Security	Shares		Value
Chile (continued)
Empresas COPEC SA		3,120	$	24,746
Enel Americas SA		291,108		55,716
Enel Chile SA		338,172		25,309
Latam Airlines Group SA		2,724		28,522
SACI Falabella		6,864		27,475
				287,000
Colombia — 0.4%
Bancolombia SA		2,706		32,002
Ecopetrol SA		35,352		33,001
Grupo Argos SA/Colombia		3,846		19,163
Grupo de Inversiones Suramericana SA		2,424		22,284
Interconexion Electrica SA ESP		4,128		22,231
				128,681
Czech Republic — 0.3%
CEZ AS		1,092		24,198
Komercni Banka AS		702		24,053
Moneta Money Bank AS(b)		7,524		25,000
				73,251
Egypt — 0.2%
Commercial International Bank Egypt SAE		9,973		48,751
Eastern Co. SAE		14,766		13,713
				62,464
Greece — 0.5%
Alpha Bank AE(a)		13,860		29,189
Eurobank Ergasias SA(a)		20,004		21,086
Hellenic Telecommunications Organization SA		2,070		31,132
Jumbo SA		1,104		22,154
National Bank of Greece SA(a)		3,564		12,080
OPAP SA		2,460		30,270
				145,911
Hungary — 0.4%
MOL Hungarian Oil & Gas PLC		3,312		32,046
OTP Bank Nyrt		1,602		75,495
Richter Gedeon Nyrt		1,074		20,596
				128,137
Indonesia — 2.9%
Adaro Energy Tbk PT		112,200		9,784
Astra International Tbk PT		144,600		66,636
Bank Central Asia Tbk PT		82,200		182,990
Bank Mandiri Persero Tbk PT		152,400		75,363
Bank Negara Indonesia Persero Tbk PT		63,000		33,499
Bank Rakyat Indonesia Persero Tbk PT		462,000		133,965
Barito Pacific Tbk PT		212,400		20,480
Charoen Pokphand Indonesia Tbk PT		61,200		29,179
Gudang Garam Tbk PT		4,200		15,000
Hanjaya Mandala Sampoerna Tbk PT		53,700		7,367
Indah Kiat Pulp & Paper Corp. Tbk PT		18,000		8,678
Indocement Tunggal Prakarsa Tbk PT		15,600		21,456
Indofood CBP Sukses Makmur Tbk PT		12,600		10,117
Indofood Sukses Makmur Tbk PT		40,800		22,996
Kalbe Farma Tbk PT		171,000		18,488
Pabrik Kertas Tjiwi Kimia Tbk PT		12,600		8,218
Perusahaan Gas Negara Tbk PT		93,000		12,659
Semen Indonesia Persero Tbk PT		27,600		22,405
Telekomunikasi Indonesia Persero Tbk PT		387,600		107,995
Unilever Indonesia Tbk PT		11,400		33,784
United Tractors Tbk PT		13,800		20,473

1

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

Security	Shares		Value
Indonesia (continued)
XL Axiata Tbk PT(a)		10,800	$	2,557
				864,089
Malaysia — 2.8%
Axiata Group Bhd		23,400		23,139
British American Tobacco Malaysia Bhd		1,200		4,683
CIMB Group Holdings Bhd		43,800		54,324
Dialog Group Bhd		26,400		21,176
DiGi.Com Bhd		30,600		32,824
Gamuda Bhd		22,800		20,526
Genting Bhd		20,400		28,477
Genting Malaysia Bhd		24,000		18,044
Hartalega Holdings Bhd		13,200		16,593
Hong Leong Bank Bhd		7,200		29,134
IHH Healthcare Bhd		18,000		23,144
IOI Corp. Bhd		12,600		13,123
Kuala Lumpur Kepong Bhd		4,800		26,824
Malayan Banking Bhd		32,400		66,173
Malaysia Airports Holdings Bhd		4,800		9,539
Maxis Bhd		20,400		25,302
MISC Bhd		14,400		28,100
Nestle Malaysia Bhd		600		20,587
Petronas Chemicals Group Bhd		16,800		28,399
Petronas Gas Bhd		4,200		15,587
PPB Group Bhd		7,240		31,550
Press Metal Aluminium Holdings Bhd		15,000		16,880
Public Bank Bhd		24,600		115,564
RHB Bank Bhd		5,400		7,318
Sime Darby Bhd		27,600		14,869
Sime Darby Plantation Bhd		18,600		22,178
Telekom Malaysia Bhd		3,600		3,241
Tenaga Nasional Bhd		22,800		71,842
Top Glove Corp. Bhd		15,000		16,162
YTL Corp. Bhd		36,640		7,325
				812,627
Mexico — 3.5%
Alfa SAB de CV, Class A		16,800		13,230
America Movil SAB de CV, Series L, NVS		261,000		200,713
Arca Continental SAB de CV		3,600		19,104
Cemex SAB de CV, CPO, NVS		110,400		40,469
Coca-Cola Femsa SAB de CV		4,200		24,149
Fibra Uno Administracion SA de CV		25,800		39,509
Fomento Economico Mexicano SAB de CV		15,600		141,944
Gruma SAB de CV, Series B		1,560		15,756
Grupo Aeroportuario del Pacifico SAB de CV, Series B		3,000		30,574
Grupo Aeroportuario del Sureste SAB de CV, Class B		1,890		32,331
Grupo Bimbo SAB de CV, Series A		13,800		23,913
Grupo Financiero Banorte SAB de CV, Class O		21,000		110,827
Grupo Financiero Inbursa SAB de CV, Class O		15,000		17,849
Grupo Mexico SAB de CV, Series B		27,600		72,277
Grupo Televisa SAB, CPO		18,000		39,266
Industrias Penoles SAB de CV		1,200		12,753
Infraestructura Energetica Nova SAB de CV		1,800		7,400
Kimberly-Clark de Mexico SAB de CV, Class A		15,000		28,800
Megacable Holdings SAB de CV, CPO		2,400		8,519
Orbia Advance Corp. SAB de CV		7,800		17,067
Promotora y Operadora de Infraestructura SAB de CV		3,000		28,752
Wal-Mart de Mexico SAB de CV		42,600		118,984
				1,044,186

Security	Shares		Value
Pakistan — 0.0%
MCB Bank Ltd.		5,400	$	6,975
Peru — 0.6%
Cia. de Minas Buenaventura SAA, ADR		1,686		25,914
Credicorp Ltd.		534		112,775
Southern Copper Corp.		666		25,328
				164,017
Philippines — 1.6%
Aboitiz Equity Ventures Inc.		21,900		21,096
Ayala Corp.		2,220		35,212
Ayala Land Inc.		70,200		62,857
BDO Unibank Inc.		19,380		57,894
GT Capital Holdings Inc.		1,184		20,842
International Container Terminal Services Inc.		7,680		18,681
JG Summit Holdings Inc.		26,580		40,224
Jollibee Foods Corp.		4,140		15,643
Manila Electric Co.		2,460		15,443
Metro Pacific Investments Corp.		162,600		13,759
Metropolitan Bank & Trust Co.		6,847		8,927
PLDT Inc.		750		15,866
SM Investments Corp.		2,160		45,058
SM Prime Holdings Inc.		85,800		65,851
Universal Robina Corp.		7,740		22,863
				460,216
Poland — 1.4%
Bank Polska Kasa Opieki SA		1,326		35,531
CCC SA		252		7,242
CD Projekt SA		522		35,035
Dino Polska SA(a)(b)		252		8,711
Grupa Lotos SA		726		17,019
KGHM Polska Miedz SA(a)		1,170		26,894
LPP SA		12		26,694
mBank SA(a)		210		19,985
Orange Polska SA(a)		2,556		4,176
PGE Polska Grupa Energetyczna SA(a)		7,284		16,244
Polski Koncern Naftowy ORLEN SA		2,388		56,723
Polskie Gornictwo Naftowe i Gazownictwo SA		14,844		17,535
Powszechna Kasa Oszczednosci Bank Polski SA		7,110		65,700
Powszechny Zaklad Ubezpieczen SA		5,382		53,255
Santander Bank Polska SA		294		20,672
				411,416
Qatar — 1.4%
Commercial Bank PSQC (The)		14,100		16,858
Industries Qatar QSC		13,243		36,546
Masraf Al Rayan QSC		33,480		35,185
Mesaieed Petrochemical Holding Co.		32,880		23,335
Ooredoo QPSC		12,060		22,846
Qatar Electricity & Water Co. QSC		5,280		23,247
Qatar Fuel QSC		1,730		10,597
Qatar Insurance Co. SAQ		14,760		12,369
Qatar International Islamic Bank QSC		2,608		6,521
Qatar Islamic Bank SAQ		8,880		36,019
Qatar National Bank QPSC		35,544		186,767
				410,290
Russia — 5.8%
Alrosa PJSC		18,360		22,254
Gazprom PJSC		83,340		333,957
Inter RAO UES PJSC		354,000		24,563
LUKOIL PJSC		3,162		301,957

2

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

Security	Shares		Value
Russia (continued)
Magnit PJSC, GDR(c)		1,692	$	19,314
MMC Norilsk Nickel PJSC		504		133,673
Mobile TeleSystems PJSC, ADR		4,416		41,687
Moscow Exchange MICEX-RTS PJSC		3,220		5,296
Novatek PJSC, GDR(c)		726		143,748
Novolipetsk Steel PJSC		8,280		16,673
PhosAgro PJSC, GDR(c)		1,272		15,671
Polymetal International PLC		687		10,324
Polyus PJSC		96		10,293
Rosneft Oil Co. PJSC, GDR(c)		9,366		63,501
Sberbank of Russia PJSC		28,603		104,131
Sberbank of Russia PJSC, ADR		13,306		194,667
Severstal PJSC		1,800		25,430
Surgutneftegas PJSC		59,400		40,758
Tatneft PJSC		11,520		132,712
VTB Bank PJSC, GDR(c)		15,936		21,992
X5 Retail Group NV, GDR(c)		1,068		35,628
				1,698,229
Saudi Arabia — 3.7%
Advanced Petrochemical Co.		1,650		20,636
Al Rajhi Bank		10,092		167,393
Alinma Bank		3,558		21,633
Almarai Co. JSC		1,926		25,295
Arab National Bank		1,107		7,528
Bank AlBilad		3,522		24,231
Bank Al-Jazira		5,028		18,262
Banque Saudi Fransi		4,176		37,306
Bupa Arabia for Cooperative Insurance Co.		684		18,422
Co for Cooperative Insurance (The)(a)		1,026		19,097
Dar Al Arkan Real Estate Development Co.(a)		3,060		9,466
Etihad Etisalat Co.(a)		2,610		15,646
Jarir Marketing Co.		528		22,274
National Commercial Bank		8,250		101,200
Riyad Bank		11,142		65,366
Sahara International Petrochemical Co.		3,894		16,199
Samba Financial Group		7,542		58,626
Saudi Airlines Catering Co.		504		11,935
Saudi Arabian Fertilizer Co.		1,332		26,036
Saudi Arabian Mining Co.(a)		2,574		29,481
Saudi Basic Industries Corp.		5,286		128,273
Saudi British Bank (The)		3,487		31,708
Saudi Cement Co.		912		16,538
Saudi Electricity Co.		6,528		35,303
Saudi Industrial Investment Group		2,844		15,335
Saudi Kayan Petrochemical Co.(a)		7,344		19,741
Saudi Telecom Co.		3,540		87,981
Savola Group (The)(a)		1,482		12,409
Yanbu National Petrochemical Co.		1,716		22,926
				1,086,246
South Africa — 7.0%
Absa Group Ltd.		5,880		59,093
Anglo American Platinum Ltd.		474		39,222
AngloGold Ashanti Ltd.		3,414		63,855
Aspen Pharmacare Holdings Ltd.(a)		2,376		19,037
Bid Corp. Ltd.		2,694		59,317
Bidvest Group Ltd. (The)		2,448		33,909
Capitec Bank Holdings Ltd.		348		33,659
Clicks Group Ltd.		1,950		33,329
Discovery Ltd.		3,036		24,461

Security	Shares		Value
South Africa (continued)
Exxaro Resources Ltd.		2,106	$	19,163
FirstRand Ltd.		26,598		113,667
Foschini Group Ltd. (The)		1,956		20,715
Gold Fields Ltd.		6,948		36,487
Growthpoint Properties Ltd.		22,878		35,614
Impala Platinum Holdings Ltd.(a)		5,976		45,922
Investec Ltd.		2,838		16,310
Kumba Iron Ore Ltd.		288		7,388
Life Healthcare Group Holdings Ltd.		12,510		21,105
Mr. Price Group Ltd.		1,722		20,566
MTN Group Ltd.		13,206		83,248
MultiChoice Group Ltd.(a)		3,834		31,718
Naspers Ltd., Class N		3,396		485,512
Nedbank Group Ltd.		2,827		42,252
NEPI Rockcastle PLC		3,312		28,032
Northam Platinum Ltd.(a)		2,412		17,613
Old Mutual Ltd.		39,156		49,543
Pick n Pay Stores Ltd.		3,720		17,233
PSG Group Ltd.		1,284		20,437
Rand Merchant Investment Holdings Ltd.		11,652		24,007
Redefine Properties Ltd.		43,848		24,628
Reinet Investments SCA		1,224		23,825
Remgro Ltd.		4,086		53,595
RMB Holdings Ltd.		5,826		32,066
Sanlam Ltd.		14,886		77,625
Sasol Ltd.		4,146		74,698
Shoprite Holdings Ltd.		3,444		30,122
Sibanye Gold Ltd.(a)		16,992		33,490
SPAR Group Ltd. (The)		1,410		19,815
Standard Bank Group Ltd.		10,602		119,919
Tiger Brands Ltd.		1,158		16,145
Vodacom Group Ltd.		4,626		38,238
Woolworths Holdings Ltd./South Africa		7,464		26,580
				2,073,160
South Korea — 16.7%
Amorepacific Corp.		294		47,044
AMOREPACIFIC Group		216		14,849
BGF retail Co. Ltd.		85		12,090
BNK Financial Group Inc.		2,364		13,930
Celltrion Healthcare Co. Ltd.(a)		420		17,513
Celltrion Inc.(a)		708		104,298
CJ CheilJedang Corp.		84		17,637
CJ ENM Co. Ltd.		108		13,953
Daelim Industrial Co. Ltd.		270		20,550
Daewoo Shipbuilding & Marine Engineering Co. Ltd.(a)		480		10,708
DB Insurance Co. Ltd.		384		18,109
E-MART Inc.		174		19,298
Fila Korea Ltd.		438		19,135
GS Engineering & Construction Corp.		612		15,544
GS Holdings Corp.		462		18,716
Hana Financial Group Inc.		2,052		62,108
Hankook Tire & Technology Co. Ltd.		588		16,553
Hanmi Pharm Co. Ltd.		60		16,230
Hanon Systems		1,914		17,501
Hanwha Chemical Corp.		1,086		16,136
Hanwha Corp.		468		9,727
HDC Hyundai Development Co-Engineering & Construction, Class E		198		4,635
Helixmith Co. Ltd.(a)		172		13,237
HLB Inc.(a)		318		30,988

3

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

Security	Shares		Value
South Korea (continued)
Hotel Shilla Co. Ltd.		276	$	19,792
Hyundai Engineering & Construction Co. Ltd.		624		21,634
Hyundai Glovis Co. Ltd.		186		23,700
Hyundai Heavy Industries Holdings Co. Ltd.		84		24,607
Hyundai Marine & Fire Insurance Co. Ltd.		546		12,943
Hyundai Mobis Co. Ltd.		522		108,276
Hyundai Motor Co.		1,164		119,243
Hyundai Steel Co.		726		19,515
Industrial Bank of Korea		2,232		22,204
Kakao Corp.		426		56,084
Kangwon Land Inc.		726		18,040
KB Financial Group Inc.		3,174		123,746
KCC Corp.		42		7,716
Kia Motors Corp.		2,160		79,092
KMW Co. Ltd.(a)		216		8,485
Korea Aerospace Industries Ltd.		696		21,979
Korea Electric Power Corp.(a)		1,902		44,927
Korea Investment Holdings Co. Ltd.		378		22,946
Korea Shipbuilding & Offshore Engineering Co. Ltd.(a)		324		32,917
Korea Zinc Co. Ltd.		78		26,811
KT&G Corp.		906		75,017
LG Chem Ltd.		396		102,759
LG Corp.		810		48,690
LG Display Co. Ltd.(a)		1,680		20,909
LG Electronics Inc.		864		51,131
LG Household & Health Care Ltd.		84		89,963
LG Innotek Co. Ltd.		102		10,536
LG Uplus Corp.		1,032		11,708
Lotte Chemical Corp.		132		24,586
Lotte Corp.		234		7,063
Lotte Shopping Co. Ltd.		103		11,554
Medy-Tox Inc.		42		10,749
Mirae Asset Daewoo Co. Ltd.		2,760		16,894
NAVER Corp.		1,086		158,144
NCSoft Corp.		138		57,600
Netmarble Corp.(a)(b)		204		15,199
NH Investment & Securities Co. Ltd.		1,542		16,188
OCI Co. Ltd.		156		8,175
Orion Corp./Republic of Korea		270		23,545
Pearl Abyss Corp.(a)		48		7,530
POSCO		588		114,748
POSCO Chemical Co. Ltd.		204		8,308
Samsung Biologics Co. Ltd.(a)(b)		138		45,975
Samsung C&T Corp.		606		50,742
Samsung Electro-Mechanics Co. Ltd.		456		42,853
Samsung Electronics Co. Ltd.		36,912		1,571,920
Samsung Engineering Co. Ltd.(a)		1,170		18,623
Samsung Fire & Marine Insurance Co. Ltd.		246		48,423
Samsung Heavy Industries Co. Ltd.(a)		3,636		21,425
Samsung Life Insurance Co. Ltd.		588		35,644
Samsung SDI Co. Ltd.		438		85,661
Samsung SDS Co. Ltd.		282		46,676
Samsung Securities Co. Ltd.		354		10,820
Shinhan Financial Group Co. Ltd.		3,222		118,798
Shinsegae Inc.		60		14,300
SK Holdings Co. Ltd.		300		65,402
SK Hynix Inc.		4,158		284,792
SK Innovation Co. Ltd.		408		50,605
SK Telecom Co. Ltd.		174		36,239
S-Oil Corp.		372		28,093

Security	Shares		Value
South Korea (continued)
Woongjin Coway Co. Ltd.		420	$	31,861
Woori Financial Group Inc.		3,456		34,234
Yuhan Corp.		102		18,653
				4,917,881
Taiwan — 17.8%
Acer Inc.		24,000		14,120
Advantech Co. Ltd.		2,000		19,633
ASE Technology Holding Co. Ltd.		30,000		74,335
Asia Cement Corp.		18,000		26,814
Asustek Computer Inc.		6,000		45,329
AU Optronics Corp.		30,000		8,633
Catcher Technology Co. Ltd.		6,000		49,065
Cathay Financial Holding Co. Ltd.		62,063		84,824
Chailease Holding Co. Ltd.		12,442		55,664
Chang Hwa Commercial Bank Ltd.		50,461		37,957
Cheng Shin Rubber Industry Co. Ltd.		12,000		16,362
China Airlines Ltd.		48,000		14,175
China Development Financial Holding Corp.		102,000		32,462
China Life Insurance Co. Ltd./Taiwan(a)		24,507		20,362
China Steel Corp.		66,000		50,619
Chunghwa Telecom Co. Ltd.		30,000		111,109
Compal Electronics Inc.		30,000		18,485
CTBC Financial Holding Co. Ltd.		144,000		103,125
Delta Electronics Inc.		18,000		82,594
E.Sun Financial Holding Co. Ltd.		90,691		80,405
Far Eastern New Century Corp.		30,000		29,252
Far EasTone Telecommunications Co. Ltd.		12,000		28,751
First Financial Holding Co. Ltd.		79,572		59,854
Formosa Chemicals & Fibre Corp.		30,000		85,839
Formosa Petrochemical Corp.		12,000		37,757
Formosa Plastics Corp.		36,000		114,688
Foxconn Technology Co. Ltd.		12,000		26,194
Fubon Financial Holding Co. Ltd.		48,000		70,481
Highwealth Construction Corp.		6,000		9,154
Hon Hai Precision Industry Co. Ltd.		96,200		279,042
Hotai Motor Co. Ltd.		2,600		50,874
Hua Nan Financial Holdings Co. Ltd.		72,070		51,258
Innolux Corp.		84,000		21,750
Inventec Corp.		30,000		22,468
Largan Precision Co. Ltd.		1,000		145,360
Lite-On Technology Corp.		18,000		28,554
MediaTek Inc.		12,000		165,779
Mega Financial Holding Co. Ltd.		96,000		95,338
Micro-Star International Co. Ltd.		6,000		16,499
Nan Ya Plastics Corp.		42,000		98,425
Nanya Technology Corp.		12,000		28,003
Novatek Microelectronics Corp.		6,000		43,952
Pegatron Corp.		12,000		26,745
Pou Chen Corp.		24,000		31,268
Powertech Technology Inc.		6,000		18,505
President Chain Store Corp.		6,000		60,078
Quanta Computer Inc.		24,000		47,433
Realtek Semiconductor Corp.		6,000		45,329
Shanghai Commercial & Savings Bank Ltd. (The)		32,437		53,051
Shin Kong Financial Holding Co. Ltd.		92,258		30,389
SinoPac Financial Holdings Co. Ltd.		114,259		48,122
Synnex Technology International Corp.		12,000		14,493
Taishin Financial Holding Co. Ltd.		91,904		42,924
Taiwan Business Bank		44,100		18,068
Taiwan Cement Corp.		33,173		45,013

4

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

Security	Shares		Value
Taiwan (continued)
Taiwan Cooperative Financial Holding Co. Ltd.		72,664	$	49,418
Taiwan High Speed Rail Corp.		24,000		28,279
Taiwan Mobile Co. Ltd.		12,000		45,034
Taiwan Semiconductor Manufacturing Co. Ltd.		188,000		1,879,353
Uni-President Enterprises Corp.		36,000		85,544
United Microelectronics Corp.		96,000		47,039
Vanguard International Semiconductor Corp.		12,000		28,161
Win Semiconductors Corp.		2,000		19,829
Winbond Electronics Corp.		42,000		24,021
Wistron Corp.		30,598		27,779
WPG Holdings Ltd.		13,520		16,817
Yuanta Financial Holding Co. Ltd.		78,000		50,491
				5,238,527
Thailand — 4.1%
Advanced Info Service PCL, NVDR		10,200		71,561
Airports of Thailand PCL, NVDR		37,200		92,946
B Grimm Power PCL, NVDR		7,200		12,628
Bangkok Bank PCL, Foreign		2,400		14,098
Bangkok Dusit Medical Services PCL, NVDR		73,200		59,592
Bangkok Expressway & Metro PCL, NVDR		56,400		20,158
Banpu PCL, NVDR		43,800		16,814
Berli Jucker PCL, NVDR		16,800		25,297
BTS Group Holdings PCL, NVDR		10,800		4,897
Bumrungrad Hospital PCL, NVDR		4,200		18,834
Central Pattana PCL, NVDR		18,000		37,081
Charoen Pokphand Foods PCL, NVDR		35,400		32,216
CP ALL PCL, NVDR		44,400		111,670
Electricity Generating PCL, NVDR		2,400		27,401
Energy Absolute PCL, NVDR		12,600		17,826
Global Power Synergy PCL, NVDR		3,600		9,710
Gulf Energy Development PCL, NVDR		3,600		19,896
Home Product Center PCL, NVDR		38,400		20,968
Indorama Ventures PCL, NVDR		15,600		17,940
Intouch Holdings PCL, NVDR		13,800		26,831
Kasikornbank PCL, Foreign		9,600		49,243
Kasikornbank PCL, NVDR		6,600		33,855
Krung Thai Bank PCL, NVDR		42,600		23,120
Land & Houses PCL, NVDR		68,400		22,183
Minor International PCL, NVDR		19,800		25,227
Muangthai Capital PCL, NVDR		3,600		7,178
Osotspa PCL, NVDR		7,200		9,769
PTT Exploration & Production PCL, NVDR		11,400		45,272
PTT Global Chemical PCL, NVDR		18,600		33,085
PTT PCL, NVDR		90,000		128,816
Ratch Group PCL, NVDR		8,400		19,667
Siam Cement PCL (The), NVDR		5,400		68,086
Siam Commercial Bank PCL (The), NVDR		7,200		28,831
Srisawad Corp PCL, NVDR		3,600		7,476
Thai Oil PCL, NVDR		10,200		23,291
Thai Union Group PCL, NVDR		39,600		18,085
True Corp. PCL, NVDR		120,600		17,720
			1,219,268
Turkey — 0.8%
Akbank T.A.S.(a)		24,546		33,207
BIM Birlesik Magazalar AS		3,672		29,409
Eregli Demir ve Celik Fabrikalari TAS		14,538		20,300
Haci Omer Sabanci Holding AS		12,780		20,249
KOC Holding AS		7,290		25,411
Tupras Turkiye Petrol Rafinerileri AS		1,008		21,745

Security	Shares		Value
Turkey (continued)
Turk Hava Yollari AO(a)		5,562	$	13,228
Turkcell Iletisim Hizmetleri AS		9,588		22,637
Turkiye Garanti Bankasi AS(a)		19,518		34,322
Turkiye Is Bankasi AS, Class C(a)		6,444		6,900
				227,408
United Arab Emirates — 1.0%
Abu Dhabi Commercial Bank PJSC		18,408		37,837
Aldar Properties PJSC		47,850		28,268
DP World PLC		1,638		20,540
Dubai Islamic Bank PJSC		12,798		18,466
Emaar Malls PJSC		3,744		1,947
Emaar Properties PJSC		29,064		32,679
Emirates Telecommunications Group Co. PJSC		13,404		59,482
First Abu Dhabi Bank PJSC		20,472		84,716
				283,935
Total Common Stocks — 81.3% (Cost: $23,462,728)				23,942,671
Investment Companies
India — 13.7%
iShares MSCI India ETF(d)		117,042		4,033,267
Total Investment Companies — 13.7% (Cost: $4,029,159)				4,033,267
Preferred Stocks
Brazil — 3.6%
Banco Bradesco SA, Preference Shares, NVS		32,476		256,302
Braskem SA, Class A, Preference Shares, NVS		1,200		7,944
Centrais Eletricas Brasileiras SA, Class B, Preference Shares, NVS		1,200		10,197
Cia. Brasileira de Distribuicao, Preference Shares, NVS		600		11,375
Cia. Energetica de Minas Gerais, Preference Shares, NVS		4,808		14,839
Gerdau SA, Preference Shares, NVS		9,000		36,185
Itau Unibanco Holding SA, Preference Shares, NVS		38,400		316,042
Itausa-Investimentos Itau SA, Preference Shares, NVS		34,234		107,439
Lojas Americanas SA, Preference Shares, NVS		6,000		31,615
Petroleo Brasileiro SA, Preference Shares, NVS		31,800		219,230
Telefonica Brasil SA, Preference Shares, NVS		3,600		47,892
				1,059,060
Chile — 0.1%
Embotelladora Andina SA, Class B, Preference Shares, NVS		5,124		13,018
Sociedad Quimica y Minera de Chile SA, Series B, Preference Shares, NVS		924		21,871
			34,889
Colombia — 0.1%
Bancolombia SA, Preference Shares, NVS		2,766		34,014
Russia — 0.1%
Surgutneftegas PJSC, Preference Shares, NVS		56,400		31,671
South Korea — 0.8%
Hyundai Motor Co.
Preference Shares, NVS		168		10,255
Series 2, Preference Shares, NVS		258		17,758

5

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

Security	Shares		Value
South Korea (continued)
Samsung Electronics Co. Ltd., Preference Shares, NVS		6,246	$	216,018
				244,031
Total Preferred Stocks — 4.7% (Cost: $1,403,235)				1,403,665
Rights
Brazil — 0.0%
Centrais Eletricas Brasileiras SA, (12/17/19)(a)		736		19
South Korea — 0.0%
AMOREPACIFIC Group, (Expires 12/06/19)(a)		14		0	(e)
Total Rights — 0.0% (Cost: $0)				19
Short-Term Investments
Money Market Funds — 0.1%
BlackRock Cash Funds: Treasury, SL Agency Shares,     1.57%(d)(f)		15,000		15,000
Total Short-Term Investments — 0.1% (Cost: $15,000)				15,000
Total Investments in Securities — 99.8% (Cost: $28,910,122)				29,394,622
Other Assets, Less Liabilities — 0.2%				58,465
Net Assets — 100.0%			$	29,453,087

^(a)  Non-income producing security.

^(b)  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.

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

^(d)  Affiliate of the Fund.

^(e)  Rounds to less than $1.

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

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		Shares Purchased		Shares Sold			Shares Held at 11/30/19		Value at 11/30/19		Income		Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)
BlackRock Cash Funds: Treasury, SL Agency Shares		73,000		—		(58,000	)(a)		15,000	$	15,000	$	146	$	—	$	—
iShares MSCI India ETF		109,842		7,200		—			117,042		4,033,267		—		—		250,391
										$	4,048,267	$	146	$	—	$	250,391

^(a) Net of purchases and sales.

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.

6

Schedule of Investments  (unaudited) (continued) November 30, 2019 iShares^® MSCI Emerging Markets ex China ETF     

Fair Value Measurements (continued)

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 Schedule of Investments above.

	Level 1		Level 2			Level 3		Total
Investments
Assets
Common Stocks	$	23,942,671	$	—		$	—	$	23,942,671
Investment Companies		4,033,267		—			—		4,033,267
Preferred Stocks		1,403,665		—			—		1,403,665
Rights		19		0	(a)		—		19
Money Market Funds		15,000		—			—		15,000
	$	29,394,622	$	0	(a)	$	—	$	29,394,622

^(a)  Rounds to less than $1.

Portfolio Abbreviations — Equity
ADR	American Depositary Receipt
CPO	Certificates of Participation (Ordinary)
GDR	Global Depositary Receipt
NVDR	Non-Voting Depositary Receipt
NVS	Non-Voting Shares

7