Schedule of Investments  (unaudited) January 31, 2020 iShares^® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets)

Security	Par (000)			Value
Corporate Bonds & Notes
Australia — 0.2%
FMG Resources August 2006 Pty Ltd.
4.50%, 09/15/27 (Call 06/15/27)(a)		USD	110	$	111,398
4.75%, 05/15/22 (Call 02/15/22)(a)		USD	100		102,688
5.13%, 03/15/23 (Call 12/15/22)(a)		USD	100		104,946
5.13%, 05/15/24 (Call 02/15/24)(a)		USD	100		105,569
					424,601
Austria — 0.1%
Novomatic AG, 1.63%, 09/20/23		EUR	100		112,604
Wienerberger AG, 2.00%, 05/02/24(b)		EUR	50		58,814
					171,418
Belgium — 0.2%
House of Finance NV (The), 4.38%, 07/15/26 (Call 07/15/22)(b)		EUR	100		110,374
Telenet Finance Luxembourg Note SARL, 5.50%, 03/01/28 (Call 12/01/22)(a)		USD	200		212,787
Telenet Finance Luxembourg Notes Sarl, 3.50%, 03/01/28 (Call 12/01/22)(b)		EUR	100		119,063
					442,224
Bermuda — 0.2%
Weatherford International Ltd., 11.00%, 12/01/24 (Call 12/01/21)(a)(c)		USD	350		370,918
Brazil — 0.6%
JBS Investments II GmbH
5.75%, 01/15/28 (Call 07/15/22)(a)(c)		USD	200		211,642
7.00%, 01/15/26 (Call 01/15/22)(a)		USD	200		217,702
JBS USA LUX SA/JBS USA Finance Inc.
5.88%, 07/15/24 (Call 03/02/20)(a)		USD	110		112,959
6.75%, 02/15/28 (Call 02/15/23)(a)		USD	125		138,488
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance Inc.
5.50%, 01/15/30 (Call 01/15/25)(a)		USD	185		200,675
6.50%, 04/15/29 (Call 04/15/24)(a)		USD	215		240,427
					1,121,893
Canada — 3.2%
1011778 BC ULC/New Red Finance Inc.
3.88%, 01/15/28 (Call 09/15/22)(a)		USD	120		120,386
4.25%, 05/15/24 (Call 05/15/20)(a)		USD	200		204,338
4.38%, 01/15/28 (Call 11/15/22)(a)		USD	165		165,388
5.00%, 10/15/25 (Call 10/15/20)(a)		USD	450		464,076
Air Canada
4.75%, 10/06/23 (Call 03/02/20)(a)		CAD	25		19,559
7.75%, 04/15/21(a)		USD	50		53,022
Baytex Energy Corp., 6.63%, 07/19/22 (Call 03/02/20)		CAD	50		38,290
Bombardier Inc.
5.75%, 03/15/22(a)(c)		USD	75		74,824
6.00%, 10/15/22 (Call 03/02/20)(a)		USD	200		196,298
6.13%, 01/15/23(a)		USD	225		222,716
7.50%, 12/01/24 (Call 12/01/20)(a)		USD	175		170,406
7.50%, 03/15/25 (Call 03/15/20)(a)		USD	225		216,717
7.88%, 04/15/27 (Call 04/15/22)(a)		USD	315		297,675
8.75%, 12/01/21(a)		USD	175		187,523
Brookfield Residential Properties Inc./Brookfield Residential U.S. Corp.
6.13%, 07/01/22 (Call 03/02/20)(a)		USD	75		75,938
6.13%, 05/15/23 (Call 03/02/20)(a)		CAD	50		38,621
6.25%, 09/15/27 (Call 09/15/22)(a)		USD	82		87,850

Security	Par (000)			Value
Canada (continued)
CES Energy Solutions Corp., 6.38%, 10/21/24 (Call 10/21/20)		CAD	50	$	36,447
Cott Corp., 5.50%, 07/01/24 (Call 02/10/20)(b)		EUR	100		114,879
Crew Energy Inc., 6.50%, 03/14/24 (Call 03/14/20)(a)		CAD	50		27,031
Garda World Security Corp., 4.63%, 02/15/27 (Call 02/15/23)(a)		USD	50		49,686
GFL Environmental Inc.
5.13%, 12/15/26 (Call 12/15/22)(a)		USD	80		82,588
5.38%, 03/01/23 (Call 03/02/20)(a)		USD	75		76,526
7.00%, 06/01/26 (Call 06/01/21)(a)		USD	95		99,107
8.50%, 05/01/27 (Call 05/01/22)(a)		USD	75		81,549
Gibson Energy Inc., 5.25%, 07/15/24 (Call 07/15/20)(b)		CAD	100		79,536
Iron Mountain Canada Operations ULC, 5.38%, 09/15/23 (Call 02/10/20)(a)		CAD	25		19,523
Mattamy Group Corp., 5.25%, 12/15/27 (Call 12/15/22)(a)		USD	34		35,615
MEG Energy Corp.
6.38%, 01/30/23 (Call 02/18/20)(a)		USD	100		101,224
6.50%, 01/15/25 (Call 03/02/20)(a)		USD	100		104,750
7.00%, 03/31/24 (Call 03/02/20)(a)		USD	150		151,125
7.13%, 02/01/27 (Call 02/01/23)(a)		USD	100		99,112
NOVA Chemicals Corp.
4.88%, 06/01/24 (Call 03/03/24)(a)		USD	165		168,857
5.00%, 05/01/25 (Call 01/31/25)(a)		USD	75		75,141
5.25%, 08/01/23 (Call 03/02/20)(a)		USD	75		75,896
5.25%, 06/01/27 (Call 03/03/27)(a)		USD	175		178,063
NuVista Energy Ltd., 6.50%, 03/02/23 (Call 03/02/20)		CAD	50		35,490
Open Text Corp.
5.63%, 01/15/23 (Call 03/02/20)(a)		USD	125		126,406
5.88%, 06/01/26 (Call 06/01/21)(a)		USD	100		105,594
Parkland Fuel Corp.
5.63%, 05/09/25 (Call 05/09/20)		CAD	100		78,612
5.75%, 09/16/24 (Call 03/02/20)(a)		CAD	25		19,624
5.75%, 09/16/24 (Call 03/02/20)		CAD	50		39,247
5.88%, 07/15/27 (Call 07/15/22)(a)		USD	80		85,026
6.00%, 11/21/22 (Call 03/02/20)		CAD	50		38,472
6.00%, 04/01/26 (Call 04/01/21)(a)		USD	100		105,391
Quebecor Media Inc.
5.75%, 01/15/23		USD	125		135,170
6.63%, 01/15/23(a)		CAD	75		61,931
Russel Metals Inc., 6.00%, 04/19/22 (Call 03/02/20)(a)		CAD	25		19,025
Seven Generations Energy Ltd.
5.38%, 09/30/25 (Call 09/30/20)(a)		USD	150		150,375
6.75%, 05/01/23 (Call 03/02/20)(a)		USD	50		50,984
6.88%, 06/30/23 (Call 03/02/20)(a)		USD	50		51,200
Stars Group Holdings BV/Stars Group US Co-Borrower LLC, 7.00%, 07/15/26 (Call 07/15/21)(a)(c)		USD	175		190,203
Superior Plus LP
5.13%, 08/27/25 (Call 02/27/21)		CAD	50		38,337
5.25%, 02/27/24 (Call 03/02/20)		CAD	50		38,645
Videotron Ltd.
4.50%, 01/15/30 (Call 10/15/24)		CAD	150		115,048
5.00%, 07/15/22		USD	100		104,995
5.13%, 04/15/27 (Call 04/15/22)(a)		USD	75		78,938
5.38%, 06/15/24 (Call 03/15/24)(a)		USD	150		162,729
5.63%, 06/15/25 (Call 03/15/25)		CAD	50		41,078
5.75%, 01/15/26 (Call 09/15/20)(b)		CAD	75		59,172
					6,221,974
Cayman Islands — 0.1%
Transocean Sentry Ltd., 5.38%, 05/15/23 (Call 05/16/21)(a)		USD	75		75,911

1

Schedule of Investments  (unaudited) (continued) January 31, 2020 iShares^® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets)

Security	Par (000)			Value
Cayman Islands (continued)
UPCB Finance VII Ltd., 3.63%, 06/15/29 (Call 06/15/22)(b)		EUR	150	$	175,095
					251,006
China — 0.0%
Moss Creek Resources Holdings Inc., 7.50%, 01/15/26 (Call 01/15/21)(a)		USD	100		73,375
Denmark — 0.2%
DKT Finance ApS, 7.00%, 06/17/23 (Call 06/17/20)(b)		EUR	200		232,175
TDC AS, 6.88%, 02/23/23(b)		GBP	100		149,439
					381,614
Finland — 0.5%
Nokia OYJ
1.00%, 03/15/21 (Call 02/15/21)(b)		EUR	100		111,749
2.00%, 03/11/26 (Call 12/11/25)(b)		EUR	200		230,089
3.38%, 06/12/22		USD	100		101,500
4.38%, 06/12/27(c)		USD	80		84,510
Teollisuuden Voima OYJ
1.13%, 03/09/26 (Call 12/09/25)(b)		EUR	100		111,027
2.00%, 05/08/24 (Call 02/08/24)(b)		EUR	100		116,705
2.13%, 02/04/25 (Call 11/04/24)(b)		EUR	100		117,750
					873,330
France — 3.9%
Altice France SA/France
3.38%, 01/15/28 (Call 09/15/22)(b)		EUR	200		224,966
5.50%, 01/15/28 (Call 09/15/22)(a)(c)		USD	200		204,004
5.88%, 02/01/27 (Call 02/01/22)(b)		EUR	200		245,091
7.38%, 05/01/26 (Call 05/01/21)(a)		USD	800		854,439
8.13%, 02/01/27 (Call 02/01/22)(a)		USD	300		335,044
Banijay Group SAS, 4.00%, 07/01/22 (Call 03/02/20)(b)		EUR	100		112,973
Burger King France SAS, 6.00%, 05/01/24 (Call 05/01/20)(b)		EUR	100		115,065
Casino Guichard Perrachon SA
4.05%, 08/05/26 (Call 05/05/26)(b)		EUR	100		93,240
4.50%, 03/07/24 (Call 12/07/23)(b)		EUR	200		201,854
4.56%, 01/25/23(b)		EUR	100		108,075
5.98%, 05/26/21(b)		EUR	100		116,023
CMA CGM SA
5.25%, 01/15/25 (Call 10/15/20)(b)		EUR	100		86,775
6.50%, 07/15/22 (Call 02/10/20)(b)		EUR	100		98,003
Constellium SE
4.63%, 05/15/21 (Call 03/02/20)(b)		EUR	67		73,940
6.63%, 03/01/25 (Call 03/02/20)(a)(c)		USD	250		258,090
Elis SA
1.00%, 04/03/25 (Call 01/03/25)(b)		EUR	100		109,547
1.63%, 04/03/28 (Call 01/03/28)(b)		EUR	100		110,968
1.75%, 04/11/24 (Call 01/11/24)(b)		EUR	100		113,469
1.88%, 02/15/23 (Call 11/15/22)(b)		EUR	100		113,507
Europcar Mobility Group
4.00%, 04/30/26 (Call 04/30/22)(b)		EUR	150		154,426
4.13%, 11/15/24 (Call 11/15/20)(b)		EUR	100		104,349
Faurecia SE
2.38%, 06/15/27 (Call 06/15/23)(b)		EUR	100		112,637
2.63%, 06/15/25 (Call 06/15/21)(b)		EUR	100		114,231
3.13%, 06/15/26 (Call 06/15/22)(b)		EUR	100		115,760
Fnac Darty SA, 2.63%, 05/30/26 (Call 05/30/22)(b)		EUR	100		113,603
Getlink SE, 3.63%, 10/01/23 (Call 10/01/20)(b)		EUR	100		114,853
Kapla Holding SAS, 3.38%, 12/15/26 (Call 12/15/22)(b)		EUR	100		111,801

Security	Par (000)			Value
France (continued)
La Financiere Atalian SASU
4.00%, 05/15/24 (Call 05/15/20)(b)		EUR	100	$	92,671
5.13%, 05/15/25 (Call 05/15/21)(b)		EUR	100		92,658
Loxam SAS
2.88%, 04/15/26 (Call 04/15/22)(b)		EUR	125		138,563
3.25%, 01/14/25 (Call 07/15/21)(b)		EUR	125		141,129
5.75%, 07/15/27 (Call 07/15/22)(b)		EUR	100		114,266
6.00%, 04/15/25 (Call 04/15/20)(b)		EUR	100		114,165
Mobilux Finance SAS, 5.50%, 11/15/24 (Call 02/10/20)(b)		EUR	100		113,647
Nexans SA, 3.25%, 05/26/21 (Call 02/26/21)(b)		EUR	100		113,700
Novafives SAS, 5.00%, 06/15/25 (Call 06/15/21)(b)		EUR	100		95,446
Orano SA
3.13%, 03/20/23 (Call 12/20/22)(b)		EUR	100		117,063
3.38%, 04/23/26 (Call 01/23/26)(b)		EUR	100		119,660
3.50%, 03/22/21(b)		EUR	100		114,396
4.88%, 09/23/24		EUR	200		256,322
Paprec Holding SA, 4.00%, 03/31/25 (Call 03/31/21)(b)		EUR	100		101,209
Quatrim SASU, 5.88%, 01/15/24 (Call 11/15/21)(b)		EUR	200		231,127
RCI Banque SA, 2.63%, 02/18/30 (Call 02/18/25)(b)(d)		EUR	100		111,624
Rexel SA
2.63%, 06/15/24 (Call 03/15/20)(b)		EUR	100		112,115
2.75%, 06/15/26 (Call 03/15/22)(b)		EUR	125		143,516
SPCM SA, 2.88%, 06/15/23 (Call 02/10/20)(b)		EUR	100		111,437
SPIE SA
2.63%, 06/18/26 (Call 12/18/25)(b)		EUR	100		114,232
3.13%, 03/22/24 (Call 09/22/23)(b)		EUR	100		117,897
Tereos Finance Groupe I SA, 4.13%, 06/16/23 (Call 03/16/23)(b)		EUR	100		98,168
Vallourec SA
2.25%, 09/30/24(b)		EUR	100		80,398
6.63%, 10/15/22 (Call 10/15/20)(b)		EUR	100		99,842
					7,461,984
Germany — 2.5%
Adler Pelzer Holding GmbH, 4.13%, 04/01/24 (Call 04/01/20)(b)		EUR	100		105,334
ADLER Real Estate AG
1.50%, 12/06/21 (Call 11/06/21)(b)		EUR	100		112,785
1.50%, 04/17/22 (Call 03/17/22)(b)		EUR	100		112,672
3.00%, 04/27/26 (Call 02/27/26)(b)		EUR	100		118,257
CBR Fashion Finance BV, 5.13%, 10/01/22 (Call 02/10/20)(b)		EUR	100		112,824
CeramTec BondCo GmbH, 5.25%, 12/15/25 (Call 12/15/20)(b)		EUR	100		114,799
Consus Real Estate AG, 9.63%, 05/15/24 (Call 05/15/21)(b)		EUR	100		123,904
DEMIRE Deutsche Mittelstand Real Estate AG, 1.88%, 10/15/24 (Call 07/15/24)(b)		EUR	100		112,176
Deutsche Bank AG
2.75%, 02/17/25(b)		EUR	225		262,822
4.30%, 05/24/28 (Call 05/24/23)(d)		USD	200		198,327
4.50%, 05/19/26(b)		EUR	100		125,948
Deutsche Bank AG/New York NY, 4.88%, 12/01/32 (Call 12/01/27)(d)		USD	200		199,715
Deutsche Lufthansa AG, 5.13%, 08/12/75 (Call 02/12/21)(b)(d)		EUR	100		115,634
Douglas GmbH, 6.25%, 07/15/22 (Call 02/10/20)(b)		EUR	100		110,589
Hapag-Lloyd AG, 5.13%, 07/15/24 (Call 07/15/20)(b)		EUR	100		115,436
K+S AG
2.63%, 04/06/23 (Call 01/06/23)(b)		EUR	100		110,206
3.25%, 07/18/24 (Call 04/18/24)(b)		EUR	100		110,966

2

Schedule of Investments  (unaudited) (continued) January 31, 2020 iShares^® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets)

Security	Par (000)			Value
Germany (continued)
4.13%, 12/06/21(b)		EUR	100	$	114,758
KME SE, 6.75%, 02/01/23 (Call 03/02/20)(b)		EUR	100		83,219
LANXESS AG, 4.50%, 12/06/76 (Call 06/06/23)(b)(d)		EUR	100		121,168
METRO AG, 1.50%, 03/19/25(b)		EUR	200		230,786
Nidda BondCo GmbH, 5.00%, 09/30/25 (Call 09/30/20)(b)		.EUR	100		111,927
Nidda Healthcare Holding GmbH, 3.50%, 09/30/24 (Call 09/30/20)(b)		EUR	200		223,860
Platin 1426 GmbH, 5.38%, 06/15/23 (Call 02/10/20)(b)		EUR	100		109,913
ProGroup AG, 3.00%, 03/31/26 (Call 03/31/21)(b)		EUR	100		109,527
RWE AG, 3.50%, 04/21/75 (Call 04/21/25)(b)(d)		EUR	50		60,772
Summit Properties Ltd., 2.00%, 01/31/25 (Call 01/31/21)(b)		EUR	100		110,130
Techem Verwaltungsgesellschaft 674 mbH, 6.00%, 07/30/26 (Call 07/30/21)(b)		EUR	100		119,244
Techem Verwaltungsgesellschaft 675 mbH, 2.00%, 07/15/25 (Call 01/15/22)(b)		EUR	100		110,541
Tele Columbus AG, 3.88%, 05/02/25 (Call 05/02/21)(b)		EUR	100		107,362
thyssenkrupp AG
1.38%, 03/03/22 (Call 12/03/21)(b)		EUR	125		138,776
1.88%, 03/06/23 (Call 02/06/23)(b)		EUR	175		193,837
2.50%, 02/25/25(b)		EUR	100		112,522
2.75%, 03/08/21 (Call 12/08/20)(b)		EUR	75		84,205
2.88%, 02/22/24 (Call 11/22/23)(b)		EUR	325		369,256
TUI AG, 2.13%, 10/26/21 (Call 07/26/21)(b)		EUR	100		112,437
					4,886,634
Greece — 0.3%
Crystal Almond SARL, 4.25%, 10/15/24 (Call 10/15/21)(b)		.EUR	100		114,066
Ellaktor Value PLC, 6.38%, 12/15/24 (Call 12/15/21)(b)		EUR	100		113,531
Intralot Capital Luxembourg SA, 5.25%, 09/15/24 (Call 09/15/20)(b)		EUR	100		50,880
Piraeus Bank SA, 9.75%, 06/26/29 (Call 06/26/24)(b)(d)		EUR	100		122,900
Titan Global Finance PLC, 2.38%, 11/16/24 (Call 05/16/24)(b)		EUR	100		114,563
					515,940
Ireland — 1.1%
AIB Group PLC, 1.88%, 11/19/29 (Call 11/19/24)(b)(d)		EUR	100		113,101
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc.
2.13%, 08/15/26 (Call 08/15/22)(b)		EUR	100		113,414
4.25%, 09/15/22 (Call 02/11/20)(a)		USD	200		202,279
4.75%, 07/15/27 (Call 07/15/22)(b)		GBP	100		136,916
5.25%, 08/15/27 (Call 08/15/22)(a)(c)		USD	200		209,499
6.00%, 02/15/25 (Call 02/15/20)(a)		USD	200		208,954
Bank of Ireland Group PLC, 3.13%, 09/19/27 (Call 09/19/22)(b)(d)		GBP	100		135,121
eircom Finance DAC
1.75%, 11/01/24 (Call 11/01/21)(b)		EUR	100		108,855
3.50%, 05/15/26 (Call 05/15/22)(b)		EUR	125		143,595
James Hardie International Finance DAC, 3.63%, 10/01/26 (Call 10/01/21)(b)		EUR	100		117,484
LCPR Senior Secured Financing DAC, 6.75%, 10/15/27 (Call 10/15/22)(a)		USD	280		295,891
Smurfit Kappa Acquisitions ULC, 2.88%, 01/15/26 (Call 10/15/25)(b)		EUR	200		241,591
Smurfit Kappa Treasury ULC, 1.50%, 09/15/27 (Call 06/15/27)(b)		EUR	150		166,644
					2,193,344

Security	Par (000)			Value
Israel — 1.5%
Teva Pharmaceutical Finance Netherlands II BV
1.13%, 10/15/24(b)		EUR	300	$	295,147
1.25%, 03/31/23 (Call 12/31/22)(b)		EUR	200		208,691
1.63%, 10/15/28(b)		EUR	100		89,548
1.88%, 03/31/27 (Call 12/31/26)(b)		EUR	100		94,751
3.25%, 04/15/22 (Call 01/15/22)		EUR	100		111,501
4.50%, 03/01/25 (Call 12/01/24)		EUR	200		223,798
6.00%, 01/31/25 (Call 10/31/24)(b)		EUR	100		118,575
Teva Pharmaceutical Finance Netherlands III BV
2.20%, 07/21/21		USD	200		196,800
2.80%, 07/21/23		USD	500		466,402
3.15%, 10/01/26		USD	550		470,938
6.00%, 04/15/24 (Call 01/15/24)(c)		USD	200		203,310
6.75%, 03/01/28 (Call 12/01/27)(c)		USD	200		208,703
7.13%, 01/31/25 (Call 10/31/24)(a)		USD	200		210,312
					2,898,476
Italy — 4.4%
Banca IFIS SpA, 4.50%, 10/17/27 (Call 10/17/22)(b)(d)		EUR	100		109,314
Banca Monte dei Paschi di Siena SpA
2.63%, 04/28/25(b)		EUR	125		138,721
3.63%, 09/24/24(b)		EUR	100		116,469
5.38%, 01/18/28 (Call 01/18/23)(b)(d)		EUR	100		102,608
10.50%, 07/23/29(b)		EUR	100		135,040
Banca Popolare di Sondrio SCPA, 2.38%, 04/03/24(b)		EUR	100		113,209
Banco BPM SpA
1.75%, 04/24/23(b)		EUR	150		169,353
1.75%, 01/28/25(b)		EUR	100		112,556
2.00%, 03/08/22(b)		EUR	100		113,246
2.50%, 06/21/24(b)		EUR	100		116,313
4.38%, 09/21/27 (Call 09/21/22)(b)(d)		EUR	100		115,516
7.13%, 03/01/21(b)		EUR	100		117,565
BPER Banca, 5.13%, 05/31/27 (Call 05/31/22)(b)(d)		EUR	100		117,655
Fiat Chrysler Finance Europe SA
4.75%, 03/22/21(b)		EUR	300		349,658
4.75%, 07/15/22(b)		EUR	150		184,051
Iccrea Banca SpA, 1.50%, 10/11/22(b)		EUR	150		169,815
Inter Media and Communication SpA, 4.88%, 12/31/22 (Call 02/10/20)(b)		EUR	97		109,965
International Game Technology PLC
3.50%, 06/15/26 (Call 06/15/22)(b)		EUR	150		174,930
4.75%, 02/15/23 (Call 08/15/22)(b)		EUR	100		119,534
Intesa Sanpaolo SpA
2.86%, 04/23/25(b)		EUR	100		118,906
3.93%, 09/15/26(b)		EUR	100		126,708
5.02%, 06/26/24(a)		USD	400		424,675
6.63%, 09/13/23(b)		EUR	300		396,375
Leonardo SpA
1.50%, 06/07/24 (Call 03/07/24)(b)		EUR	100		113,895
5.25%, 01/21/22		EUR	100		121,642
Mediobanca Banca di Credito Finanziario SpA, 5.75%, 04/18/23		EUR	100		126,010
Nexi SpA, 1.75%, 10/31/24(b)		EUR	150		168,637
Rossini Sarl, 6.75%, 10/30/25 (Call 10/30/21)(b)		EUR	100		121,848
Saipem Finance International BV
2.75%, 04/05/22(b)		EUR	100		115,611
3.00%, 03/08/21(b)		EUR	100		114,038
Salini Impregilo SpA
1.75%, 10/26/24(b)		EUR	100		103,619
3.63%, 01/28/27(b)		EUR	104		111,794
Sisal Group SpA, 7.00%, 07/31/23 (Call 02/10/20)(b)		EUR	69		78,601

3

Schedule of Investments  (unaudited) (continued) January 31, 2020 iShares^® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Italy (continued)
Societa Cattolica di Assicurazioni SC, 4.25%, 12/14/47 (Call 12/14/27)(b)(d)	EUR		100	$	114,352
Telecom Italia SpA/Milano
2.38%, 10/12/27 (Call 07/12/27)(b)	EUR		200		227,798
2.50%, 07/19/23(b)	EUR		200		234,342
2.75%, 04/15/25 (Call 01/15/25)(b)	EUR		250		293,155
2.88%, 01/28/26 (Call 10/28/25)(b)	EUR		100		117,223
3.00%, 09/30/25(b)	EUR		100		119,274
3.25%, 01/16/23(b)	EUR		200		238,148
3.63%, 01/19/24(b)	EUR		100		121,695
3.63%, 05/25/26(b)	EUR		200		246,720
4.00%, 04/11/24 (Call 01/11/24)(b)	EUR		200		245,193
5.30%, 05/30/24(a)	USD		200		218,000
UniCredit SpA, 2.73%, 01/15/32 (Call 01/15/27)(b)(d)	EUR		200		227,107
Unione di Banche Italiane SpA
2.63%, 06/20/24(b)	EUR		250		291,655
4.25%, 05/05/26 (Call 05/05/21)(b)(d)	EUR		100		114,335
4.45%, 09/15/27 (Call 09/15/22)(b)(d)	EUR		100		116,797
5.88%, 03/04/29 (Call 03/04/24)(b)(d)	EUR		150		184,631
Unipol Gruppo SpA
3.00%, 03/18/25(b)	EUR		100		119,492
3.50%, 11/29/27 (Call 08/29/27)(b)	EUR		100		122,232
4.38%, 03/05/21(b)	EUR		100		115,857
UnipolSai Assicurazioni SpA, 3.88%, 03/01/28(b)	EUR		100		115,757
					8,511,640
Japan — 0.5%
SoftBank Group Corp.
3.13%, 09/19/25 (Call 06/21/25)(b)	EUR		250		284,261
4.00%, 07/30/22 (Call 04/30/22)(b)	EUR		100		117,973
4.00%, 04/20/23 (Call 01/20/23)(b)	EUR		100		118,001
4.00%, 09/19/29 (Call 06/21/29)(b)	EUR		125		146,628
4.50%, 04/20/25 (Call 01/20/25)(b)	EUR		100		120,852
4.75%, 07/30/25 (Call 04/30/25)(b)	EUR		100		122,052
5.00%, 04/15/28 (Call 01/16/28)(b)	EUR		100		122,554
					1,032,321
Luxembourg — 2.9%
Altice Financing SA
2.25%, 01/15/25 (Call 01/15/22)(b)	EUR		100		108,569
3.00%, 01/15/28 (Call 01/15/23)(b)	EUR		100		108,412
5.25%, 02/15/23 (Call 03/02/20)(b)	EUR		100		112,508
6.63%, 02/15/23 (Call 02/18/20)(a)(c)	USD		200		203,500
7.50%, 05/15/26 (Call 05/15/21)(a)	USD		400		428,480
Altice Finco SA
4.75%, 01/15/28 (Call 10/15/22)(b)	EUR		100		111,857
8.13%, 01/15/24 (Call 02/10/20)(a)	USD		200		205,645
Altice Luxembourg SA
6.25%, 02/15/25 (Call 03/02/20)(b)	EUR		100		114,474
7.63%, 02/15/25 (Call 03/02/20)(a)	USD		200		208,250
8.00%, 05/15/27 (Call 05/15/22)(b)	EUR		200		250,505
10.50%, 05/15/27 (Call 05/15/22)(a)	USD		200		231,662
Arena Luxembourg Finance Sarl, 2.88%, 11/01/24 (Call 11/01/20)(b)	EUR		100		114,374
Connect Finco SARL/Connect U.S. Finco LLC, 6.75%, 10/01/26 (Call 10/01/22)(a)	USD		300		316,687
ContourGlobal Power Holdings SA, 3.38%, 08/01/23 (Call 08/01/20)(b)	EUR		100		113,188
Garfunkelux Holdco 3 SA, 8.50%, 11/01/22 (Call 02/10/20)(b)	GBP		100		130,981
INEOS Finance PLC, 2.13%, 11/15/25 (Call 11/15/20)(b)	EUR		100		110,162

Security	Par (000)			Value
Luxembourg (continued)
INEOS Group Holdings SA, 5.38%, 08/01/24 (Call 02/10/20)(b)		EUR	100	$	113,277
Intelsat Connect Finance SA, 9.50%, 02/15/23 (Call 08/15/20)(a)		USD	200		101,125
Intelsat Jackson Holdings SA
5.50%, 08/01/23 (Call 03/02/20)(c)		USD	350		280,414
8.00%, 02/15/24 (Call 03/02/20)(a)		USD	175		179,375
8.50%, 10/15/24 (Call 10/15/20)(a)		USD	500		418,750
9.50%, 09/30/22(a)		USD	75		85,069
9.75%, 07/15/25 (Call 07/15/21)(a)		USD	300		255,750
Intelsat Luxembourg SA, 8.13%, 06/01/23 (Call 03/17/20)(c)		USD	125		48,906
JBS USA LUX SA/JBS USA Finance Inc., 5.75%, 06/15/25 (Call 06/15/20)(a)		USD	175		180,576
Matterhorn Telecom SA
3.13%, 09/15/26 (Call 09/15/22)(b)		EUR	100		113,462
4.00%, 11/15/27 (Call 11/15/22)(b)		EUR	100		116,690
Monitchem HoldCo 3 SA, 5.25%, 03/15/25 (Call 09/15/21)(b)		EUR	100		115,900
Mytilineos Financial Partners SA, 2.50%, 12/01/24 (Call 06/01/24)(b)		EUR	100		113,830
Summer BC Holdco A Sarl, 9.25%, 10/31/27 (Call 10/31/22)(b)		EUR	100		114,528
Summer BC Holdco B SARL, 5.75%, 10/31/26 (Call 10/31/22)(b)		EUR	200		231,032
Swissport Investments SA, 6.75%, 12/15/21 (Call 02/10/20)(b)		EUR	100		105,587
Vivion Investments Sarl, 3.00%, 08/08/24(b)		EUR	100		115,057
					5,558,582
Netherlands — 3.0%
AerCap Holdings NV, 5.88%, 10/10/79 (Call 10/10/24)(c)(d)		USD	200		212,000
Dufry One BV, 2.00%, 02/15/27 (Call 02/15/23)(b)		EUR	200		219,368
Intertrust Group BV, 3.38%, 11/15/25 (Call 11/15/21)(b)		EUR	100		115,385
InterXion Holding NV, 4.75%, 06/15/25 (Call 06/15/21)(b)		EUR	200		237,702
IPD 3 BV, 4.50%, 07/15/22 (Call 02/10/20)(b)		EUR	100		112,997
Lincoln Financing SARL, 3.63%, 04/01/24 (Call 10/01/20)(b)		EUR	225		254,034
Maxeda DIY Holding BV, 6.13%, 07/15/22 (Call 03/02/20)(b)		EUR	100		106,426
Nielsen Co Luxembourg SARL (The), 5.50%, 10/01/21 (Call 03/02/20)(a)		USD	75		75,113
OCI NV
3.13%, 11/01/24 (Call 11/01/21)(b)		EUR	200		225,496
5.25%, 11/01/24 (Call 11/01/21)(a)		USD	200		206,101
OI European Group BV, 2.88%, 02/15/25 (Call 02/15/22)(b)		EUR	100		113,644
PPF Arena 1 BV, 3.13%, 03/27/26 (Call 12/27/25)(b)		EUR	100		116,817
Promontoria Holding 264 BV, 6.75%, 08/15/23 (Call 08/15/20)(b)		EUR	100		101,009
Saipem Finance International BV, 2.63%, 01/07/25(b)		EUR	100		116,644
Selecta Group BV, 5.88%, 02/01/24 (Call 03/02/20)(b)		EUR	100		111,868
Sensata Technologies BV
4.88%, 10/15/23(a)		USD	75		80,016
5.00%, 10/01/25(a)		USD	150		161,353
5.63%, 11/01/24(a)		USD	50		54,859
Sensata Technologies UK Financing Co. PLC, 6.25%, 02/15/26 (Call 02/15/21)(a)		USD	200		209,802
Sigma Holdco BV, 5.75%, 05/15/26 (Call 05/15/21)(b)		EUR	100		112,063
SRLEV NV, 9.00%, 04/15/41 (Call 04/15/21)(d)		EUR	100		121,129

4

Schedule of Investments  (unaudited) (continued) January 31, 2020 iShares^® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets)

Security	Par (000)			Value
Netherlands (continued)
Starfruit Finco BV/Starfruit U.S. Holdco LLC, 6.50%, 10/01/26 (Call 10/01/21)(b)		EUR	100	$	116,098
Sunshine Mid BV, 6.50%, 05/15/26 (Call 05/15/21)(b)		EUR	100		115,881
Trivium Packaging Finance BV
3.75%, 08/15/26 (Call 08/15/22)(b)		EUR	100		115,932
5.50%, 08/15/26 (Call 08/15/22)(a)		USD	200		211,138
8.50%, 08/15/27 (Call 08/15/22)(a)		USD	200		220,139
United Group BV
3.13%, 02/15/26 (Call 02/15/22)(b)		EUR	100		109,900
3.63%, 02/15/28 (Call 02/15/23)(b)		EUR	100		109,866
4.38%, 07/01/22 (Call 02/10/20)(b)		EUR	100		113,025
4.88%, 07/01/24 (Call 07/01/20)(b)		EUR	100		114,268
UPC Holding BV, 3.88%, 06/15/29 (Call 06/15/22)(b)		EUR	100		116,185
UPCB Finance IV Ltd., 5.38%, 01/15/25 (Call 03/02/20)(a)		USD	200		205,304
Ziggo Bond Co. BV
4.63%, 01/15/25 (Call 02/10/20)(b)		EUR	100		112,896
6.00%, 01/15/27 (Call 01/15/22)(a)		USD	150		157,031
Ziggo BV
2.88%, 01/15/30 (Call 10/15/24)(b)		EUR	100		114,454
4.25%, 01/15/27 (Call 01/15/22)(b)		EUR	200		236,558
4.88%, 01/15/30 (Call 10/15/24)(a)		USD	200		205,954
5.50%, 01/15/27 (Call 01/15/22)(a)		USD	250		263,438
					5,701,893
Norway — 0.1%
Aker BP ASA, 5.88%, 03/31/25 (Call 03/31/21)(a)		USD	150		157,313
Portugal — 0.5%
Banco Comercial Portugues SA, 3.87%, 03/27/30 (Call 03/27/25)(b)(d)		EUR	100		115,050
Caixa Geral de Depositos SA
1.25%, 11/25/24(b)		EUR	100		113,356
5.75%, 06/28/28 (Call 06/28/23)(b)(d)		EUR	100		126,885
EDP - Energias de Portugal SA
1.70%, 07/20/80 (Call 04/20/25)(b)(d)		EUR	100		110,147
4.50%, 04/30/79 (Call 01/30/24)(b)(d)		EUR	200		247,324
Novo Banco SA, 8.50%, 07/06/28 (Call 07/06/23)(b)(d)		EUR	100		121,369
Transportes Aereos Portugueses SA, 5.63%, 12/02/24 (Call 06/02/24)(b)		EUR	100		109,956
					944,087
Singapore — 0.1%
Puma International Financing SA, 5.13%, 10/06/24 (Call 10/06/20)(a)		USD	200		196,500
Spain — 1.8%
ABANCA Corp. Bancaria SA, 4.63%, 04/07/30 (Call 04/07/25)(b)(d)		EUR	100		120,428
Banco de Sabadell SA
1.13%, 03/27/25(b)		EUR	100		111,680
5.38%, 12/12/28 (Call 12/12/23)(b)(d)		EUR	100		125,169
5.63%, 05/06/26(b)		EUR	100		133,138
Bankia SA
1.00%, 06/25/24(b)		EUR	100		113,396
1.13%, 11/12/26(b)		EUR	100		112,923
3.38%, 03/15/27 (Call 03/15/22)(b)(d)		EUR	100		116,814
3.75%, 02/15/29 (Call 02/15/24)(b)(d)		EUR	100		121,299
Cellnex Telecom SA
2.38%, 01/16/24 (Call 10/16/23)(b)		EUR	100		118,672
2.88%, 04/18/25 (Call 01/18/25)(b)		EUR	100		123,076
3.13%, 07/27/22(b)		EUR	100		119,035

Security	Par (000)				Value
Spain (continued)
Cirsa Finance International Sarl
4.75%, 05/22/25 (Call 05/22/21)(b)		EUR	100		$	114,633
6.25%, 12/20/23 (Call 06/20/20)(b)		EUR	100			116,035
Codere Finance 2 Luxembourg SA, 6.75%, 11/01/21 (Call 03/02/20)(b)		EUR	100			105,839
Distribuidora Internacional de Alimentacion SA, 0.88%, 04/06/23 (Call 01/06/23)(b)		EUR	100			56,865
eDreams ODIGEO SA, 5.50%, 09/01/23 (Call 09/01/20)(b)		EUR	100			114,482
El Corte Ingles SA, 3.00%, 03/15/24 (Call 10/15/20)(b)		EUR	100			114,177
Gestamp Funding Luxembourg SA, 3.50%, 05/15/23 (Call 02/10/20)(b)		EUR	100			112,480
Grifols SA
1.63%, 02/15/25 (Call 02/15/22)(b)		EUR	100			112,014
2.25%, 11/15/27 (Call 11/15/22)(b)		EUR	100			113,242
3.20%, 05/01/25 (Call 05/01/20)(b)		EUR	200			225,402
Grupo Isolux Corsan SA
Series B, 6.00%, 12/30/21 (Call 03/02/20)(e)		EUR	28			16
Series C, 1.00%, 12/30/21 (Call 03/02/20)(e)		EUR	0	(f)		0	(g)
Grupo-Antolin Irausa SA, 3.25%, 04/30/24 (Call 04/30/20)(b)		EUR	100			107,090
Ibercaja Banco SA, 2.75%, 07/23/30 (Call 07/23/25)(b)(d)		EUR	100			110,772
Liberbank SA, 6.88%, 03/14/27 (Call 03/14/22)(b)(d)		EUR	100			122,539
NH Hotel Group SA, 3.75%, 10/01/23 (Call 02/10/20)(b)		EUR	90			101,090
Obrascon Huarte Lain SA, 4.75%, 03/15/22 (Call 03/02/20)(b)		EUR	100			86,047
Repsol International Finance BV, 4.50%, 03/25/75 (Call 03/25/25)(b)(d)		EUR	200			252,816
Tasty Bondco 1 SA, 6.25%, 05/15/26 (Call 05/15/22)(b)		EUR	100			116,175
						3,397,344
Sweden — 0.9%
Akelius Residential Property AB, 3.88%, 10/05/78 (Call 07/08/23)(b)(d)		EUR	100			117,765
Dometic Group AB, 3.00%, 05/08/26 (Call 04/08/26)(b)		EUR	125			140,972
Fastighets AB Balder, 3.00%, 03/07/78 (Call 03/07/23)(b)(d)		EUR	100			113,379
Intrum AB
2.75%, 07/15/22 (Call 03/02/20)(b)		EUR	50			56,017
3.13%, 07/15/24 (Call 07/15/20)(b)		EUR	200			225,143
3.50%, 07/15/26 (Call 07/15/22)(b)		EUR	300			337,925
Telefonaktiebolaget LM Ericsson
1.88%, 03/01/24(b)		EUR	100			117,378
4.13%, 05/15/22		USD	125			129,904
Unilabs Subholding AB, 5.75%, 05/15/25 (Call 05/15/20)(b)		EUR	100			114,009
Verisure Midholding AB, 5.75%, 12/01/23 (Call 02/10/20)(b)		EUR	200			227,077
Volvo Car AB
2.13%, 04/02/24 (Call 01/02/24)(b)		EUR	100			114,653
3.25%, 05/18/21(b)		EUR	100			114,598
						1,808,820
Switzerland — 0.2%
Dufry One BV, 2.50%, 10/15/24 (Call 10/15/20)(b)		EUR	100			112,143
Garrett LX I Sarl/Garrett Borrowing LLC, 5.13%, 10/15/26 (Call 10/15/21)(b)		EUR	100			109,084
Transocean Inc., 7.50%, 01/15/26 (Call 01/15/21)(a)		USD	150			139,773
Walnut Bidco PLC, 6.75%, 08/01/24 (Call 08/01/21)(b)		EUR	100			113,979
						474,979

5

Schedule of Investments  (unaudited) (continued) January 31, 2020 iShares^® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets)

Security		Par (000)		Value
United Kingdom — 4.1%
Algeco Global Finance PLC, 6.50%, 02/15/23 (Call 03/02/20)(b)	EUR		100	$	110,129
Ardonagh Midco 3 PLC, 8.38%, 07/15/23 (Call 07/15/20)(b)	GBP		100		133,816
Arqiva Broadcast Finance PLC, 6.75%, 09/30/23 (Call 09/30/20)(b)	GBP		100		139,976
Avon International Capital PLC, 6.50%, 08/15/22 (Call 03/02/20)(a)	USD		50		51,636
Boparan Finance PLC, 4.38%, 07/15/21 (Call 02/10/20)(b)	EUR		100		81,989
Cabot Financial Luxembourg SA, 7.50%, 10/01/23 (Call 02/10/20)(b)	GBP		100		136,645
Centrica PLC, 3.00%, 04/10/76 (Call 04/10/21)(b)(d)	EUR		100		113,678
Co-Operative Group Ltd., 5.13%, 05/17/24 (Call 02/15/24)(b)	GBP		100		141,360
Drax Finco PLC, 4.25%, 05/01/22 (Call 02/10/20)(b)	GBP		100		133,821
eG Global Finance PLC
3.63%, 02/07/24 (Call 11/15/20)(b)	EUR		100		110,044
4.38%, 02/07/25 (Call 05/15/21)(b)	EUR		100		109,655
6.25%, 10/30/25 (Call 10/30/21)(b)	EUR		100		114,698
6.75%, 02/07/25 (Call 05/15/21)(a)	USD		200		202,500
Fiat Chrysler Automobiles NV
3.75%, 03/29/24(b)	EUR		200		248,365
5.25%, 04/15/23	USD		200		214,000
Heathrow Finance PLC
3.88%, 03/01/27(b)	GBP		100		134,377
4.13%, 09/01/29(b)	GBP		100		135,322
Iceland Bondco PLC, 4.63%, 03/15/25 (Call 09/15/20)(b)	GBP		100		107,768
IDH Finance PLC, 6.25%, 08/15/22 (Call 03/02/20)(b)	GBP		100		121,769
INEOS Finance PLC, 2.88%, 05/01/26 (Call 05/01/22)(b)	EUR		100		112,646
INEOS Styrolution Group GmbH, 2.25%, 01/16/27 (Call 01/15/23)(b)	EUR		100		109,395
Inmarsat Finance PLC, 4.88%, 05/15/22 (Call 02/12/20)(a)	USD		200		202,300
International Game Technology PLC
2.38%, 04/15/28 (Call 04/15/23)(b)	EUR		100		108,626
6.25%, 01/15/27 (Call 07/15/26)(a)(c)	USD		200		225,714
International Personal Finance PLC, 5.75%, 04/07/21(b)	EUR		100		111,747
Jaguar Land Rover Automotive PLC
2.20%, 01/15/24(b)	EUR		100		105,579
3.88%, 03/01/23(b)	GBP		100		130,010
4.50%, 01/15/26(b)	EUR		100		108,844
5.00%, 02/15/22(b)	GBP		100		134,659
5.63%, 02/01/23 (Call 03/02/20)(a)	USD		150		150,997
5.88%, 11/15/24 (Call 08/15/24)(b)	EUR		100		116,598
Jerrold Finco PLC, 6.25%, 09/15/21 (Call 09/15/20)(b)	GBP		100		133,830
KCA Deutag UK Finance PLC, 9.88%, 04/01/22 (Call 04/01/20)(a)(c)	USD		200		140,045
Mclaren Finance PLC, 5.00%, 08/01/22 (Call 02/10/20)(b)	GBP		100		127,674
Metro Bank PLC, 5.50%, 06/26/28 (Call 06/26/23)(b)(d)	GBP		100		105,192
Nomad Foods Bondco PLC, 3.25%, 05/15/24 (Call 05/15/20)(b)	EUR		100		113,015
Pinewood Finance Co. Ltd., 3.25%, 09/30/25 (Call 09/30/21)(b)	GBP		100		134,299
Pinnacle Bidco PLC, 6.38%, 02/15/25 (Call 02/15/21)(b)	GBP		100		138,168
Pizzaexpress Financing 2 PLC, 6.63%, 08/01/21 (Call 02/10/20)(b)	GBP		100		118,431
Playtech PLC, 4.25%, 03/07/26 (Call 03/07/22)(b)	EUR		100		114,414
Shop Direct Funding PLC, 7.75%, 11/15/22 (Call 03/02/20)(b)	GBP		100		127,611
Stonegate Pub Co. Financing PLC, 4.88%, 03/15/22 (Call 02/10/20)(b)	GBP		100		133,646

Security		Par (000)		Value
United Kingdom (continued)
Top Gun Realisations 74 PLC, 6.50%, 07/01/22 (Call 02/10/20)(b)(e)	GBP		25	$	5,891
Victoria PLC, 5.25%, 07/15/24 (Call 07/15/21)(b)	EUR		100		115,892
Virgin Media Finance PLC, 4.50%, 01/15/25 (Call 03/02/20)(b)	EUR		100		113,252
Virgin Media Receivables Financing Notes I DAC, 5.50%, 09/15/24 (Call 02/10/20)(b)	GBP		100		135,073
Virgin Media Secured Finance PLC
4.25%, 01/15/30 (Call 10/15/24)(b)	GBP		150		201,973
4.88%, 01/15/27 (Call 01/15/21)(b)	GBP		100		136,425
5.00%, 04/15/27 (Call 04/15/22)(b)	GBP		100		138,985
5.25%, 05/15/29 (Call 05/15/24)(b)	GBP		100		142,115
5.50%, 08/15/26 (Call 08/15/21)(a)	USD		200		209,504
5.50%, 05/15/29 (Call 05/15/24)(a)	USD		200		210,500
Viridian Group FinanceCo PLC/Viridian Power and Energy, 4.00%, 09/15/25 (Call 09/15/20)(b)	EUR		100		113,938
Vodafone Group PLC
3.10%, 01/03/79 (Call 01/03/24)(b)(d)	EUR		300		348,557
4.20%, 10/03/78 (Call 07/03/28)(b)(d)	EUR		100		125,123
7.00%, 04/04/79 (Call 01/04/29)(d)	USD		300		353,433
					7,895,649
United States — 64.8%
Acadia Healthcare Co. Inc., 5.63%, 02/15/23 (Call 03/02/20)	USD		100		101,375
Acrisure LLC/Acrisure Finance Inc.
7.00%, 11/15/25 (Call 11/15/20)(a)	USD		150		147,284
8.13%, 02/15/24 (Call 02/15/21)(a)	USD		120		128,391
10.13%, 08/01/26 (Call 08/01/22)(a)	USD		80		87,660
Adient Global Holdings Ltd., 3.50%, 08/15/24 (Call 05/15/24)(b)	EUR		200		212,205
Adient U.S. LLC, 7.00%, 05/15/26 (Call 05/15/22)(a)	USD		310		339,644
ADT Security Corp. (The)
3.50%, 07/15/22	USD		175		177,677
4.13%, 06/15/23	USD		100		102,017
6.25%, 10/15/21	USD		150		158,737
AECOM
5.13%, 03/15/27 (Call 12/15/26)	USD		150		159,813
5.88%, 10/15/24 (Call 07/15/24)	USD		125		138,327
AES Corp./VA
4.00%, 03/15/21	USD		50		50,715
4.50%, 03/15/23 (Call 03/15/20)	USD		100		102,006
4.88%, 05/15/23 (Call 03/02/20)	USD		86		87,075
5.13%, 09/01/27 (Call 09/01/22)	USD		70		73,857
5.50%, 04/15/25 (Call 04/15/20)	USD		125		129,076
6.00%, 05/15/26 (Call 05/15/21)	USD		75		79,436
AK Steel Corp., 7.63%, 10/01/21 (Call 03/02/20)	USD		75		75,305
Albertsons Companies Inc./Safeway Inc./New Albertsons LP/Albertsons LLC
3.50%, 02/15/23 (Call 12/15/22)(a)	USD		60		61,061
4.63%, 01/15/27 (Call 01/15/23)(a)	USD		140		142,006
4.88%, 02/15/30 (Call 02/15/25)(a)	USD		100		102,648
5.75%, 03/15/25 (Call 03/02/20)	USD		150		155,707
5.88%, 02/15/28 (Call 08/15/22)(a)	USD		125		133,435
6.63%, 06/15/24 (Call 03/02/20)	USD		200		208,494
7.50%, 03/15/26 (Call 03/15/22)(a)	USD		105		116,205
Alcoa Nederland Holding BV
6.75%, 09/30/24 (Call 03/02/20)(a)	USD		200		210,020
7.00%, 09/30/26 (Call 09/30/21)(a)	USD		200		217,250
Allegheny Technologies Inc., 7.88%, 08/15/23 (Call 05/15/23)	USD		75		82,184

6

Schedule of Investments  (unaudited) (continued) January 31, 2020 iShares^® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets)

Security		Par (000)		Value
United States (continued)
Allied Universal Holdco LLC/Allied Universal Finance Corp.
6.63%, 07/15/26 (Call 07/15/22)(a)	USD		160	$	170,100
9.75%, 07/15/27 (Call 07/15/22)(a)	USD		165		176,756
Allison Transmission Inc.
4.75%, 10/01/27 (Call 10/01/22)(a)	USD		50		51,969
5.00%, 10/01/24 (Call 02/11/20)(a)	USD		175		178,862
5.88%, 06/01/29 (Call 06/01/24)(a)	USD		70		76,395
Ally Financial Inc., 5.75%, 11/20/25 (Call 10/21/25)	USD		150		170,834
AMC Entertainment Holdings Inc.
5.75%, 06/15/25 (Call 06/15/20)(c)	USD		100		89,498
5.88%, 11/15/26 (Call 11/15/21)	USD		100		86,603
6.13%, 05/15/27 (Call 05/15/22)(c)	USD		75		64,055
6.38%, 11/15/24 (Call 03/02/20)	GBP		100		124,784
AMC Networks Inc.
4.75%, 12/15/22 (Call 03/02/20)	USD		125		126,035
4.75%, 08/01/25 (Call 08/01/21)(c)	USD		125		126,285
5.00%, 04/01/24 (Call 04/01/20)	USD		125		127,119
American Airlines Group Inc., 5.00%, 06/01/22(a)	USD		145		150,626
American Axle & Manufacturing Inc.
6.25%, 04/01/25 (Call 04/01/20)(c)	USD		110		112,672
6.25%, 03/15/26 (Call 03/15/21)(c)	USD		70		71,386
6.50%, 04/01/27 (Call 04/01/22)	USD		75		76,688
6.63%, 10/15/22 (Call 03/02/20)	USD		50		50,734
American Builders & Contractors Supply Co. Inc., 4.00%, 01/15/28 (Call 01/15/23)(a)	USD		170		170,976
AmeriGas Partners LP/AmeriGas Finance Corp.
5.50%, 05/20/25 (Call 02/20/25)	USD		125		133,916
5.63%, 05/20/24 (Call 03/20/24)	USD		100		106,847
5.75%, 05/20/27 (Call 02/20/27)	USD		75		81,994
5.88%, 08/20/26 (Call 05/20/26)	USD		75		82,275
Anixter Inc., 5.13%, 10/01/21	USD		75		78,289
Antero Midstream Partners LP/Antero Midstream Finance Corp.
5.38%, 09/15/24 (Call 02/18/20)(c)	USD		100		88,550
5.75%, 03/01/27 (Call 03/01/22)(a)	USD		110		86,042
5.75%, 01/15/28 (Call 01/15/23)(a)	USD		100		77,668
Antero Resources Corp.
5.00%, 03/01/25 (Call 03/02/20)(c)	USD		100		66,230
5.13%, 12/01/22 (Call 03/02/20)(c)	USD		150		129,375
5.38%, 11/01/21 (Call 03/02/20)	USD		175		167,125
5.63%, 06/01/23 (Call 03/02/20)	USD		125		90,000
APX Group Inc.
7.63%, 09/01/23 (Call 03/02/20)(c)	USD		75		73,313
7.88%, 12/01/22 (Call 03/02/20)	USD		125		127,635
Aramark International Finance Sarl, 3.13%, 04/01/25 (Call 04/01/20)(b)	EUR		100		112,984
Aramark Services Inc.
4.75%, 06/01/26 (Call 06/01/21)(c)	USD		50		52,051
5.00%, 04/01/25 (Call 04/01/20)(a)(c)	USD		75		78,039
5.00%, 02/01/28 (Call 02/01/23)(a)	USD		200		209,249
Archrock Partners LP/Archrock Partners Finance Corp.
6.25%, 04/01/28 (Call 04/01/23)(a)	USD		75		77,156
6.88%, 04/01/27 (Call 04/01/22)(a)	USD		75		79,623
Arconic Inc.
5.13%, 10/01/24 (Call 07/01/24)	USD		200		215,857
5.40%, 04/15/21 (Call 01/15/21)	USD		175		179,616
5.87%, 02/23/22	USD		100		106,299
Ascent Resources Utica Holdings LLC/ARU Finance Corp.
7.00%, 11/01/26 (Call 11/01/21)(a)	USD		100		72,250

Security		Par (000)		Value
United States (continued)
10.00%, 04/01/22 (Call 04/01/20)(a)	USD		150	$	146,953
Ashland LLC, 4.75%, 08/15/22 (Call 05/15/22)	USD		20		21,037
Ashland Services BV, 2.00%, 01/30/28 (Call 11/01/27)(b)	EUR		100		110,679
Avantor Inc.
4.75%, 10/01/24 (Call 10/01/20)(b)	EUR		100		116,451
6.00%, 10/01/24 (Call 10/01/20)(a)	USD		250		265,701
9.00%, 10/01/25 (Call 10/01/20)(a)	USD		275		303,474
Avis Budget Car Rental LLC/Avis Budget Finance Inc., 5.75%, 07/15/27 (Call 07/15/22)(a)	USD		55		57,367
Avis Budget Finance PLC, 4.75%, 01/30/26 (Call 09/30/21)(b)	EUR		100		116,420
Avon International Operations Inc., 7.88%, 08/15/22 (Call 03/02/20)(a)	USD		100		103,844
Avon Products Inc., 7.00%, 03/15/23	USD		50		54,797
Axalta Coating Systems Dutch Holding B BV, 3.75%, 01/15/25 (Call 03/02/20)(b)	EUR		125		140,799
B&G Foods Inc.
5.25%, 04/01/25 (Call 04/01/20)(c)	USD		125		127,688
5.25%, 09/15/27 (Call 03/01/22)(c)	USD		90		89,572
Ball Corp.
1.50%, 03/15/27 (Call 12/15/26)	EUR		100		110,683
4.00%, 11/15/23	USD		125		131,936
4.38%, 12/15/23	EUR		200		251,433
4.88%, 03/15/26 (Call 12/15/25)	USD		150		164,402
5.00%, 03/15/22	USD		100		105,625
5.25%, 07/01/25	USD		175		195,910
Banff Merger Sub Inc., 9.75%, 09/01/26 (Call 09/01/21)(a)(c)	USD		225		231,154
Bausch Health Americas Inc.
8.50%, 01/31/27 (Call 07/31/22)(a)	USD		290		327,764
9.25%, 04/01/26 (Call 04/01/22)(a)	USD		200		228,000
Bausch Health Companies Inc.
4.50%, 05/15/23 (Call 03/02/20)(b)	EUR		225		250,395
5.00%, 01/30/28 (Call 01/30/23)(a)	USD		195		197,255
5.25%, 01/30/30 (Call 01/30/25)(a)	USD		195		198,432
5.50%, 03/01/23 (Call 03/02/20)(a)	USD		52		52,103
5.50%, 11/01/25 (Call 11/01/20)(a)	USD		275		285,312
5.75%, 08/15/27 (Call 08/15/22)(a)	USD		65		69,540
5.88%, 05/15/23 (Call 03/02/20)(a)	USD		34		34,298
6.13%, 04/15/25 (Call 04/15/20)(a)	USD		550		567,347
6.50%, 03/15/22 (Call 03/02/20)(a)	USD		150		153,159
7.00%, 03/15/24 (Call 03/15/20)(a)	USD		300		311,625
7.00%, 01/15/28 (Call 01/15/23)(a)	USD		110		119,420
7.25%, 05/30/29 (Call 05/30/24)(a)	USD		95		106,623
9.00%, 12/15/25 (Call 12/15/21)(a)	USD		300		338,625
Beacon Roofing Supply Inc., 4.88%, 11/01/25 (Call 11/01/20)(a)(c)	USD		225		223,640
Belden Inc., 3.88%, 03/15/28 (Call 03/15/23)(b)	EUR		150		176,251
Berry Global Inc.
1.00%, 01/15/25 (Call 10/15/24)(b)	EUR		100		109,658
1.50%, 01/15/27 (Call 10/15/26)(b)	EUR		100		110,220
4.50%, 02/15/26 (Call 02/15/21)(a)	USD		65		65,848
4.88%, 07/15/26 (Call 07/15/22)(a)	USD		210		219,187
5.13%, 07/15/23 (Call 03/02/20)	USD		100		101,875
5.50%, 05/15/22 (Call 03/02/20)	USD		50		50,371
5.63%, 07/15/27 (Call 07/15/22)(a)(c)	USD		65		69,253
6.00%, 10/15/22 (Call 03/02/20)	USD		33		33,578
Blue Cube Spinco LLC
9.75%, 10/15/23 (Call 10/15/20)	USD		100		107,000
10.00%, 10/15/25 (Call 10/15/20)	USD		100		109,360

7

Schedule of Investments  (unaudited) (continued) January 31, 2020 iShares^® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets)

Security		Par (000)		Value
United States (continued)
Blue Racer Midstream LLC/Blue Racer Finance Corp., 6.13%, 11/15/22 (Call 03/02/20)(a)	USD		125	$	122,344
Boyd Gaming Corp.
4.75%, 12/01/27 (Call 12/01/22)(a)	USD		140		142,712
6.00%, 08/15/26 (Call 08/15/21)	USD		100		106,044
6.38%, 04/01/26 (Call 04/01/21)	USD		125		132,805
Brand Industrial Services Inc., 8.50%, 07/15/25 (Call 07/15/20)(a)	USD		150		150,352
Brookfield Property REIT Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL, 5.75%, 05/15/26 (Call 05/15/22)(a)	USD		170		177,667
Buckeye Partners LP
4.13%, 12/01/27 (Call 09/01/27)	USD		25		24,572
6.38%, 01/22/78 (Call 01/22/23)(d)	USD		50		41,250
Caesars Resort Collection LLC/CRC Finco Inc., 5.25%, 10/15/25 (Call 10/15/20)(a)	USD		275		279,469
California Resources Corp., 8.00%, 12/15/22 (Call 03/02/20)(a)(c)	USD		275		93,500
Callon Petroleum Co.
6.13%, 10/01/24 (Call 03/02/20)(c)	USD		100		95,788
6.38%, 07/01/26 (Call 07/01/21)(c)	USD		50		47,250
Calpine Corp.
4.50%, 02/15/28 (Call 02/15/23)(a)	USD		205		203,462
5.13%, 03/15/28 (Call 03/15/23)(a)(c)	USD		215		214,059
5.25%, 06/01/26 (Call 06/01/21)(a)	USD		200		206,377
5.50%, 02/01/24 (Call 03/02/20)	USD		100		101,300
5.75%, 01/15/25 (Call 03/02/20)	USD		175		179,769
Calumet Specialty Products Partners LP/Calumet Finance Corp., 11.00%, 04/15/25 (Call 10/15/21)(a)(c)	USD		70		77,350
Catalent Pharma Solutions Inc., 4.75%, 12/15/24 (Call 03/02/20)(b)	EUR		100		113,206
CBL & Associates LP
5.25%, 12/01/23 (Call 09/01/23)(c)	USD		75		45,462
5.95%, 12/15/26 (Call 09/15/26)	USD		100		51,593
CCO Holdings LLC/CCO Holdings Capital Corp.
4.00%, 03/01/23 (Call 02/18/20)(a)	USD		100		101,629
4.75%, 03/01/30 (Call 09/01/24)(a)	USD		500		514,062
5.00%, 02/01/28 (Call 08/01/22)(a)	USD		425		443,971
5.13%, 02/15/23 (Call 03/02/20)	USD		100		101,125
5.13%, 05/01/23 (Call 03/02/20)(a)(c)	USD		200		203,750
5.13%, 05/01/27 (Call 05/01/22)(a)(c)	USD		550		576,125
5.25%, 09/30/22 (Call 03/02/20)	USD		150		151,687
5.38%, 05/01/25 (Call 05/01/20)(a)	USD		150		155,087
5.38%, 06/01/29 (Call 06/01/24)(a)	USD		225		240,678
5.50%, 05/01/26 (Call 05/01/21)(a)	USD		250		261,875
5.75%, 09/01/23 (Call 03/02/20)	USD		75		76,045
5.75%, 02/15/26 (Call 02/15/21)(a)	USD		425		446,362
5.88%, 04/01/24 (Call 03/02/20)(a)	USD		275		284,625
5.88%, 05/01/27 (Call 05/01/21)(a)	USD		100		105,156
CDK Global Inc.
4.88%, 06/01/27 (Call 06/01/22)	USD		75		78,833
5.00%, 10/15/24 (Call 07/15/24)	USD		75		81,575
5.25%, 05/15/29 (Call 05/15/24)(a)	USD		100		106,320
5.88%, 06/15/26 (Call 06/15/21)(c)	USD		100		106,227
CDW LLC/CDW Finance Corp.
4.25%, 04/01/28 (Call 10/01/22)	USD		120		124,950
5.00%, 09/01/25 (Call 03/02/20)	USD		75		77,906
5.50%, 12/01/24 (Call 06/01/24)	USD		100		111,316
Cedar Fair LP, 5.25%, 07/15/29 (Call 07/15/24)(a)	USD		70		73,763

Security		Par (000)		Value
United States (continued)
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op, 5.38%, 04/15/27 (Call 04/15/22)	USD		100	$	106,000
Centene Corp.
4.25%, 12/15/27 (Call 12/15/22)(a)	USD		400		417,000
4.63%, 12/15/29 (Call 12/15/24)(a)	USD		345		371,254
4.75%, 05/15/22 (Call 03/02/20)	USD		125		127,378
4.75%, 01/15/25 (Call 03/02/20)	USD		250		258,750
5.25%, 04/01/25 (Call 04/01/20)(a)	USD		150		155,437
5.38%, 06/01/26 (Call 06/01/21)(a)	USD		275		292,531
5.38%, 08/15/26 (Call 08/15/21)(a)	USD		110		116,938
6.13%, 02/15/24 (Call 03/02/20)	USD		150		155,062
CenturyLink Inc.
4.00%, 02/15/27 (Call 02/15/23)(a)	USD		200		201,750
5.13%, 12/15/26 (Call 12/15/22)(a)(c)	USD		225		231,750
5.63%, 04/01/25 (Call 01/01/25)	USD		75		79,524
Series T, 5.80%, 03/15/22	USD		225		237,093
Series W, 6.75%, 12/01/23	USD		100		111,138
Series Y, 7.50%, 04/01/24 (Call 01/01/24)	USD		150		169,500
CF Industries Inc., 3.45%, 06/01/23	USD		150		154,488
Change Healthcare Holdings LLC/Change Healthcare Finance Inc., 5.75%, 03/01/25 (Call 03/01/20)(a)	USD		190		193,199
Charles River Laboratories International Inc.
4.25%, 05/01/28 (Call 05/01/23)(a)	USD		80		81,216
5.50%, 04/01/26 (Call 04/01/21)(a)	USD		100		106,518
Chemours Co. (The)
4.00%, 05/15/26 (Call 05/15/21)	EUR		100		100,274
5.38%, 05/15/27 (Call 02/15/27)	USD		75		64,453
6.63%, 05/15/23 (Call 03/02/20)	USD		125		122,638
7.00%, 05/15/25 (Call 05/15/20)(c)	USD		125		118,958
Cheniere Energy Partners LP
4.50%, 10/01/29 (Call 10/01/24)(a)	USD		220		223,850
5.25%, 10/01/25 (Call 10/01/20)	USD		261		268,994
5.63%, 10/01/26 (Call 10/01/21)	USD		180		189,000
Chesapeake Energy Corp., 11.50%, 01/01/25 (Call 01/01/22)(a)	USD		348		280,795
CHS/Community Health Systems Inc.
5.13%, 08/01/21 (Call 02/22/20)	USD		125		125,044
6.25%, 03/31/23 (Call 03/31/20)	USD		475		484,005
6.88%, 04/01/28 (Call 04/01/23)(a)	USD		265		160,987
8.00%, 03/15/26 (Call 03/15/22)(a)	USD		325		339,121
8.00%, 12/15/27 (Call 12/15/22)(a)	USD		109		112,951
8.13%, 06/30/24 (Call 06/30/21)(a)	USD		225		202,236
8.63%, 01/15/24 (Call 01/15/21)(a)	USD		150		159,352
9.88%, 06/30/23 (Call 06/30/20)(a)(h)	USD		300		282,918
Churchill Downs Inc.
4.75%, 01/15/28 (Call 01/15/23)(a)	USD		50		51,750
5.50%, 04/01/27 (Call 04/01/22)(a)	USD		100		105,351
Cincinnati Bell Inc., 7.00%, 07/15/24 (Call 03/02/20)(a)	USD		100		104,784
Cinemark USA Inc.
4.88%, 06/01/23 (Call 03/02/20)	USD		125		126,758
5.13%, 12/15/22 (Call 03/02/20)	USD		50		50,500
CIT Group Inc.
4.13%, 03/09/21 (Call 02/09/21)	USD		75		76,264
4.75%, 02/16/24 (Call 11/16/23)	USD		100		106,923
5.00%, 08/15/22	USD		175		185,946
5.00%, 08/01/23	USD		100		107,848
5.25%, 03/07/25 (Call 12/07/24)	USD		75		82,936
6.13%, 03/09/28(c)	USD		50		59,688
Citgo Holding Inc., 9.25%, 08/01/24 (Call 08/01/21)(a)	USD		190		203,789

8

Schedule of Investments  (unaudited) (continued) January 31, 2020 iShares^® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets)

Security		Par (000)		Value
United States (continued)
Clear Channel Worldwide Holdings Inc.
5.13%, 08/15/27 (Call 08/15/22)(a)	USD		200	$	206,000
9.25%, 02/15/24 (Call 02/15/21)(a)(c)	USD		294		319,271
Clearway Energy Operating LLC
4.75%, 03/15/28 (Call 03/15/23)(a)	USD		75		77,128
5.75%, 10/15/25 (Call 10/15/21)	USD		110		115,569
Cleveland-Cliffs Inc.
4.88%, 01/15/24 (Call 01/15/21)(a)	USD		75		75,469
5.75%, 03/01/25 (Call 03/02/20)	USD		126		122,564
5.88%, 06/01/27 (Call 06/01/22)(a)	USD		125		115,288
CNX Resources Corp.
5.88%, 04/15/22 (Call 03/02/20)	USD		165		161,287
7.25%, 03/14/27 (Call 03/14/22)(a)	USD		75		61,935
Colfax Corp.
3.25%, 05/15/25 (Call 05/15/20)(b)	EUR		100		112,963
6.00%, 02/15/24 (Call 02/15/21)(a)	USD		100		105,282
6.38%, 02/15/26 (Call 02/15/22)(a)	USD		65		70,158
CommScope Inc.
5.50%, 03/01/24 (Call 03/01/21)(a)	USD		210		215,977
5.50%, 06/15/24 (Call 02/11/20)(a)	USD		85		84,150
6.00%, 03/01/26 (Call 03/01/22)(a)	USD		255		267,431
8.25%, 03/01/27 (Call 03/01/22)(a)	USD		155		158,596
CommScope Technologies LLC
5.00%, 03/15/27 (Call 03/15/22)(a)	USD		125		112,993
6.00%, 06/15/25 (Call 06/15/20)(a)	USD		250		239,925
Comstock Resources Inc., 9.75%, 08/15/26 (Call 08/15/21)	USD		25		20,375
Coty Inc., 4.75%, 04/15/26 (Call 04/15/21)(b)	EUR		100		116,199
Covanta Holding Corp.
5.88%, 03/01/24 (Call 03/02/20)	USD		50		51,000
5.88%, 07/01/25 (Call 07/01/20)	USD		50		51,915
6.00%, 01/01/27 (Call 01/01/22)	USD		50		51,843
Credit Acceptance Corp.
5.13%, 12/31/24 (Call 12/31/21)(a)	USD		50		52,250
6.63%, 03/15/26 (Call 03/15/22)(a)	USD		100		108,102
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.
5.63%, 05/01/27 (Call 05/01/22)(a)	USD		110		110,825
5.75%, 04/01/25 (Call 04/01/20)	USD		75		76,148
6.25%, 04/01/23 (Call 02/18/20)	USD		100		100,915
Crown Americas LLC/Crown Americas Capital Corp. IV, 4.50%, 01/15/23	USD		175		184,208
Crown Americas LLC/Crown Americas Capital Corp. V, 4.25%, 09/30/26 (Call 03/31/26)	USD		50		52,125
Crown Americas LLC/Crown Americas Capital Corp. VI, 4.75%, 02/01/26 (Call 02/01/21)	USD		100		103,625
Crown European Holdings SA
0.75%, 02/15/23 (Call 01/15/23)(b)	EUR		100		110,178
2.25%, 02/01/23 (Call 11/01/22)(b)	EUR		100		115,185
2.88%, 02/01/26 (Call 08/01/25)(b)	EUR		100		119,021
3.38%, 05/15/25 (Call 11/15/24)(b)	EUR		100		120,704
4.00%, 07/15/22 (Call 04/15/22)(b)	EUR		100		118,875
CrownRock LP/CrownRock Finance Inc., 5.63%, 10/15/25 (Call 10/15/20)(a)	USD		175		176,330
CSC Holdings LLC
5.25%, 06/01/24(c)	USD		125		135,195
5.38%, 07/15/23 (Call 02/11/20)(a)	USD		200		204,750
5.38%, 02/01/28 (Call 02/01/23)(a)	USD		200		212,574
5.50%, 05/15/26 (Call 05/15/21)(a)	USD		200		210,220
5.50%, 04/15/27 (Call 04/15/22)(a)	USD		200		212,279

Security		Par (000)		Value
United States (continued)
5.75%, 01/15/30 (Call 01/15/25)(a)	USD		400	$	430,008
6.50%, 02/01/29 (Call 02/01/24)(a)	USD		300		333,705
6.63%, 10/15/25 (Call 10/15/20)(a)	USD		200		211,131
6.75%, 11/15/21	USD		150		161,065
7.50%, 04/01/28 (Call 04/01/23)(a)	USD		200		226,862
10.88%, 10/15/25 (Call 10/15/20)(a)	USD		225		249,218
CVR Energy Inc.
5.25%, 02/15/25 (Call 02/15/22)(a)	USD		75		74,100
5.75%, 02/15/28 (Call 02/15/23)(a)	USD		100		98,025
Dana Financing Luxembourg Sarl, 5.75%, 04/15/25 (Call 04/15/20)(a)	USD		75		78,247
Dana Inc., 5.50%, 12/15/24 (Call 03/02/20)	USD		75		77,211
Darling Global Finance BV, 3.63%, 05/15/26 (Call 05/15/21)(b)	EUR		100		115,293
DaVita Inc.
5.00%, 05/01/25 (Call 05/01/20)(c)	USD		200		204,832
5.13%, 07/15/24 (Call 02/18/20)	USD		275		281,179
DCP Midstream Operating LP
3.88%, 03/15/23 (Call 12/15/22)	USD		75		76,946
4.75%, 09/30/21 (Call 06/30/21)(a)	USD		75		76,892
5.13%, 05/15/29 (Call 02/15/29)	USD		110		116,782
5.38%, 07/15/25 (Call 04/15/25)	USD		150		163,890
5.85%, 05/21/43 (Call 05/21/23)(a)(d)	USD		75		69,495
Dell Inc., 4.63%, 04/01/21	USD		50		51,129
Dell International LLC/EMC Corp.
5.88%, 06/15/21 (Call 02/18/20)(a)	USD		132		133,447
7.13%, 06/15/24 (Call 02/18/20)(a)	USD		225		236,610
Denbury Resources Inc.
7.75%, 02/15/24 (Call 08/15/20)(a)	USD		100		80,188
9.00%, 05/15/21 (Call 03/02/20)(a)	USD		125		116,406
9.25%, 03/31/22 (Call 03/02/20)(a)	USD		75		66,063
Diamond Offshore Drilling Inc., 7.88%, 08/15/25 (Call 05/15/25)	USD		75		60,957
Diamond Resorts International Inc.
7.75%, 09/01/23 (Call 03/02/20)(a)	USD		75		77,156
10.75%, 09/01/24 (Call 03/02/20)(a)	USD		100		104,417
Diamond Sports Group LLC/Diamond Sports Finance Co.
5.38%, 08/15/26 (Call 08/15/22)(a)	USD		480		476,928
6.63%, 08/15/27 (Call 08/15/22)(a)(c)	USD		290		271,220
DISH DBS Corp.
5.00%, 03/15/23	USD		250		254,124
5.88%, 07/15/22	USD		325		340,795
5.88%, 11/15/24(c)	USD		350		354,173
6.75%, 06/01/21	USD		350		366,187
7.75%, 07/01/26(c)	USD		300		314,822
Diversified Healthcare Trust, 4.75%, 02/15/28 (Call 08/15/27)(c)	USD		75		78,419
Dun & Bradstreet Corp./The
6.88%, 08/15/26 (Call 02/15/22)(a)	USD		100		109,426
10.25%, 02/15/27 (Call 02/15/22)(a)(c)	USD		105		120,033
Edgewell Personal Care Co.
4.70%, 05/19/21	USD		75		76,792
4.70%, 05/24/22(c)	USD		75		77,379
Elanco Animal Health Inc.
3.91%, 08/27/21	USD		100		102,786
4.27%, 08/28/23 (Call 07/28/23)	USD		100		106,509
4.90%, 08/28/28 (Call 05/28/28)	USD		100		114,000
Eldorado Resorts Inc.
6.00%, 04/01/25 (Call 04/01/20)	USD		100		104,825
6.00%, 09/15/26 (Call 09/15/21)	USD		90		98,600

9

Schedule of Investments  (unaudited) (continued) January 31, 2020 iShares^® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets)

Security		Par (000)		Value
United States (continued)
EMC Corp., 3.38%, 06/01/23 (Call 03/01/23)	USD		175	$	177,331
Encompass Health Corp.
4.50%, 02/01/28 (Call 02/01/23)	USD		80		82,450
4.75%, 02/01/30 (Call 02/01/25)	USD		75		78,000
5.75%, 11/01/24 (Call 03/02/20)	USD		87		88,148
Endeavor Energy Resources LP/EER Finance Inc.
5.50%, 01/30/26 (Call 01/30/21)(a)	USD		75		76,712
5.75%, 01/30/28 (Call 01/30/23)(a)	USD		155		161,200
Endo Dac/Endo Finance LLC/Endo Finco Inc.
6.00%, 07/15/23 (Call 03/02/20)(a)	USD		200		153,125
6.00%, 02/01/25 (Call 03/02/20)(a)(c)	USD		200		139,000
Energizer Gamma Acquisition BV, 4.63%, 07/15/26 (Call 07/15/21)(b)	EUR		100		115,669
Energizer Holdings Inc.
5.50%, 06/15/25 (Call 06/15/20)(a)	USD		75		77,555
6.38%, 07/15/26 (Call 07/15/21)(a)	USD		115		122,414
7.75%, 01/15/27 (Call 01/15/22)(a)	USD		65		71,825
EnLink Midstream Partners LP
4.15%, 06/01/25 (Call 03/01/25)	USD		100		92,248
4.40%, 04/01/24 (Call 01/01/24)	USD		75		71,508
4.85%, 07/15/26 (Call 04/15/26)	USD		100		91,963
Envision Healthcare Corp., 8.75%, 10/15/26 (Call 10/15/21)(a)	USD		200		120,680
ESH Hospitality Inc.
4.63%, 10/01/27 (Call 10/01/22)(a)	USD		125		125,156
5.25%, 05/01/25 (Call 05/01/20)(a)	USD		175		179,375
Exela Intermediate LLC/Exela Finance Inc., 10.00%, 07/15/23 (Call 07/15/20)(a)	USD		150		58,500
Extraction Oil & Gas Inc.
5.63%, 02/01/26 (Call 02/01/21)(a)	USD		100		48,788
7.38%, 05/15/24 (Call 05/15/20)(a)	USD		100		49,775
Ferrellgas LP/Ferrellgas Finance Corp.
6.50%, 05/01/21 (Call 03/02/20)(c)	USD		75		65,143
6.75%, 01/15/22 (Call 03/02/20)(c)	USD		100		85,000
6.75%, 06/15/23 (Call 02/18/20)	USD		75		63,563
Fifth Third Bancorp., 5.10%, (Call 06/30/23)(d)(i)	USD		75		77,719
Flex Acquisition Co. Inc.
6.88%, 01/15/25 (Call 03/02/20)(a)	USD		100		100,125
7.88%, 07/15/26 (Call 07/15/21)(a)	USD		75		76,364
Fortress Transportation & Infrastructure Investors LLC
6.50%, 10/01/25 (Call 10/01/21)(a)	USD		100		106,375
6.75%, 03/15/22 (Call 03/15/20)(a)	USD		100		103,325
Foxtrot Escrow Issuer LLC/Foxtrot Escrow Corp., 12.25%, 11/15/26 (Call 11/15/22)(a)	USD		115		119,217
Freedom Mortgage Corp.
8.13%, 11/15/24 (Call 11/15/20)(a)	USD		75		74,417
8.25%, 04/15/25 (Call 04/15/21)(a)	USD		100		97,797
Freeport-McMoRan Inc.
3.55%, 03/01/22 (Call 12/01/21)	USD		298		301,571
3.88%, 03/15/23 (Call 12/15/22)	USD		350		357,133
4.55%, 11/14/24 (Call 08/14/24)	USD		125		132,223
5.00%, 09/01/27 (Call 09/01/22)	USD		105		108,806
5.25%, 09/01/29 (Call 09/01/24)(c)	USD		85		89,586
Frontier Communications Corp.
6.88%, 01/15/25 (Call 10/15/24)	USD		100		46,030
7.13%, 01/15/23	USD		125		59,041
7.63%, 04/15/24(c)	USD		100		46,269
8.00%, 04/01/27 (Call 04/01/22)(a)	USD		235		245,575
8.50%, 04/01/26 (Call 04/01/21)(a)	USD		275		281,605
8.75%, 04/15/22	USD		75		34,570

Security		Par (000)		Value
United States (continued)
10.50%, 09/15/22 (Call 06/15/22)	USD		350	$	160,230
11.00%, 09/15/25 (Call 06/15/25)	USD		525		240,844
FXI Holdings Inc., 7.88%, 11/01/24 (Call 11/01/20)(a)	USD		75		70,898
Genesis Energy LP/Genesis Energy Finance Corp.
6.00%, 05/15/23 (Call 03/02/20)(c)	USD		50		50,253
6.25%, 05/15/26 (Call 02/15/21)	USD		50		47,484
6.50%, 10/01/25 (Call 10/01/20)	USD		100		97,705
6.75%, 08/01/22 (Call 02/16/20)	USD		150		152,802
7.75%, 02/01/28 (Call 02/01/23)	USD		145		146,201
Genworth Holdings Inc., 7.63%, 09/24/21	USD		100		105,551
Golden Nugget Inc.
6.75%, 10/15/24 (Call 03/02/20)(a)	USD		175		179,643
8.75%, 10/01/25 (Call 10/01/20)(a)	USD		125		131,426
Goodyear Tire & Rubber Co. (The)
4.88%, 03/15/27 (Call 12/15/26)(c)	USD		100		103,010
5.00%, 05/31/26 (Call 05/31/21)	USD		175		182,219
5.13%, 11/15/23 (Call 03/02/20)(c)	USD		125		127,031
Gray Television Inc.
5.13%, 10/15/24 (Call 02/11/20)(a)(c)	USD		75		77,604
5.88%, 07/15/26 (Call 07/15/21)(a)(c)	USD		150		157,448
7.00%, 05/15/27 (Call 05/15/22)(a)	USD		100		108,500
Griffon Corp., 5.25%, 03/01/22 (Call 03/02/20)	USD		125		125,073
Gulfport Energy Corp.
6.00%, 10/15/24 (Call 03/02/20)	USD		125		69,688
6.38%, 05/15/25 (Call 05/15/20)	USD		75		37,377
Hanesbrands Finance Luxembourg SCA, 3.50%, 06/15/24 (Call 03/15/24)(b)	EUR		100		119,688
Hanesbrands Inc.
4.63%, 05/15/24 (Call 02/15/24)(a)	USD		175		183,681
4.88%, 05/15/26 (Call 02/15/26)(a)(c)	USD		150		157,698
Harland Clarke Holdings Corp.
8.38%, 08/15/22 (Call 03/02/20)(a)	USD		125		108,429
9.25%, 03/01/21 (Call 03/02/20)(a)(c)	USD		125		125,234
HCA Inc.
5.38%, 02/01/25(c)	USD		425		474,980
5.38%, 09/01/26 (Call 03/01/26)	USD		170		191,904
5.63%, 09/01/28 (Call 03/01/28)	USD		250		289,687
5.88%, 05/01/23	USD		200		220,235
5.88%, 02/15/26 (Call 08/15/25)	USD		250		287,187
5.88%, 02/01/29 (Call 08/01/28)	USD		170		200,829
7.50%, 02/15/22	USD		350		385,000
Herc Holdings Inc., 5.50%, 07/15/27 (Call 07/15/22)(a)	USD		190		198,493
Hertz Corp. (The)
5.50%, 10/15/24 (Call 02/11/20)(a)	USD		125		127,099
6.00%, 01/15/28 (Call 01/15/23)(a)(c)	USD		160		160,800
6.25%, 10/15/22 (Call 03/02/20)	USD		75		75,907
7.13%, 08/01/26 (Call 08/01/22)(a)	USD		85		90,645
Hertz Holdings Netherlands BV, 5.50%, 03/30/23 (Call 03/30/20)(b)	EUR		100		113,590
Hess Midstream Operations LP
5.13%, 06/15/28 (Call 06/15/23)(a)	USD		100		103,223
5.63%, 02/15/26 (Call 02/15/21)(a)	USD		100		104,595
Hilcorp Energy I LP/Hilcorp Finance Co.
5.00%, 12/01/24 (Call 03/02/20)(a)	USD		75		68,263
5.75%, 10/01/25 (Call 04/01/20)(a)	USD		75		67,617
6.25%, 11/01/28 (Call 11/01/23)(a)(c)	USD		100		88,125
Hilton Domestic Operating Co. Inc.
4.25%, 09/01/24 (Call 02/25/20)	USD		175		177,529
4.88%, 01/15/30 (Call 01/15/25)	USD		130		137,832
5.13%, 05/01/26 (Call 05/01/21)	USD		250		261,562

10

Schedule of Investments  (unaudited) (continued) January 31, 2020 iShares^® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets)

Security		Par (000)		Value
United States (continued)
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp.
4.63%, 04/01/25 (Call 04/01/20)	USD		100	$	102,064
4.88%, 04/01/27 (Call 04/01/22)	USD		100		104,873
Hologic Inc.
4.38%, 10/15/25 (Call 10/15/20)(a)	USD		100		102,000
4.63%, 02/01/28 (Call 02/01/23)(a)	USD		125		131,505
Howard Hughes Corp. (The), 5.38%, 03/15/25 (Call 03/15/20)(a)	USD		125		129,075
HUB International Ltd., 7.00%, 05/01/26 (Call 05/01/21)(a)	USD		175		180,664
Hughes Satellite Systems Corp.
5.25%, 08/01/26	USD		150		162,680
6.63%, 08/01/26(c)	USD		100		110,541
7.63%, 06/15/21	USD		100		106,563
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
4.75%, 09/15/24 (Call 06/15/24)(a)	USD		125		127,733
5.25%, 05/15/27 (Call 11/15/26)(a)	USD		122		122,226
5.88%, 02/01/22 (Call 02/01/20)	USD		200		200,000
6.25%, 02/01/22 (Call 03/02/20)	USD		250		254,375
6.25%, 05/15/26 (Call 05/15/22)	USD		190		199,914
6.38%, 12/15/25 (Call 12/15/20)	USD		150		156,994
6.75%, 02/01/24 (Call 03/02/20)	USD		75		77,912
iHeartCommunications Inc.
4.75%, 01/15/28 (Call 01/15/23)(a)	USD		70		71,174
5.25%, 08/15/27 (Call 08/15/22)(a)	USD		120		125,128
6.38%, 05/01/26 (Call 05/01/22)	USD		125		135,313
8.38%, 05/01/27 (Call 05/01/22)	USD		200		217,873
Infor U.S. Inc.
5.75%, 05/15/22 (Call 02/18/20)	EUR		100		112,043
6.50%, 05/15/22 (Call 02/18/20)	USD		225		226,642
International Game Technology PLC
3.50%, 07/15/24 (Call 01/15/24)(b)	EUR		100		117,087
6.50%, 02/15/25 (Call 08/15/24)(a)	USD		200		225,021
Intrado Corp., 8.50%, 10/15/25 (Call 10/15/20)(a)	USD		175		139,125
IQVIA Inc.
2.25%, 01/15/28 (Call 07/15/22)(b)	EUR		100		112,418
2.88%, 09/15/25 (Call 09/15/20)(b)	EUR		100		112,939
3.25%, 03/15/25 (Call 03/15/20)(b)	EUR		300		337,519
5.00%, 10/15/26 (Call 10/15/21)(a)	USD		200		209,321
5.00%, 05/15/27 (Call 05/15/22)(a)	USD		200		211,008
Iron Mountain Inc.
4.88%, 09/15/27 (Call 09/15/22)(a)(c)	USD		225		231,176
4.88%, 09/15/29 (Call 09/15/24)(a)	USD		145		147,540
5.25%, 03/15/28 (Call 12/27/22)(a)	USD		150		156,875
5.75%, 08/15/24 (Call 02/11/20)(c)	USD		175		176,653
6.00%, 08/15/23 (Call 02/11/20)	USD		75		76,620
Iron Mountain UK PLC, 3.88%, 11/15/25 (Call 11/15/20)(b)	GBP		100		133,987
iStar Inc.
4.25%, 08/01/25 (Call 05/01/25)	USD		100		100,500
4.75%, 10/01/24 (Call 07/01/24)	USD		125		130,449
5.25%, 09/15/22 (Call 03/02/20)	USD		50		51,188
Jaguar Holding Co. II/Pharmaceutical Product Development LLC, 6.38%, 08/01/23 (Call 03/02/20)(a)	USD		150		154,255
JC Penney Corp. Inc.
5.88%, 07/01/23 (Call 03/02/20)(a)	USD		75		65,207
8.63%, 03/15/25 (Call 03/15/21)(a)(c)	USD		75		41,982
KB Home, 7.00%, 12/15/21 (Call 09/15/21)	USD		75		80,267
Kennedy-Wilson Inc., 5.88%, 04/01/24 (Call 03/02/20)	USD		150		153,566

Security		Par (000)		Value
United States (continued)
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC
4.75%, 06/01/27 (Call 06/01/22)(a)	USD		100	$	105,394
5.00%, 06/01/24 (Call 03/02/20)(a)	USD		175		179,977
5.25%, 06/01/26 (Call 06/01/21)(a)	USD		175		183,312
Kraton Polymers LLC/Kraton Polymers Capital Corp., 5.25%, 05/15/26 (Call 05/15/21)(b)	EUR		100		113,701
L Brands Inc.
5.25%, 02/01/28	USD		75		74,438
5.63%, 02/15/22	USD		125		131,785
5.63%, 10/15/23	USD		75		81,656
6.63%, 04/01/21	USD		50		52,438
7.50%, 06/15/29 (Call 06/15/24)(c)	USD		75		80,732
LABL Escrow Issuer LLC 6.75%, 07/15/26 (Call 07/15/22)(a)	USD		100		107,403
10.50%, 07/15/27 (Call 07/15/22)(a)	USD		105		111,051
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.
4.25%, 02/01/27 (Call 02/01/23)(a)	USD		80		79,800
5.25%, 03/15/22 (Call 09/15/21)(a)	USD		75		77,443
5.25%, 10/01/25 (Call 10/01/20)(a)	USD		60		61,730
Lamar Media Corp.
3.75%, 02/15/28 (Call 02/15/23)(a)	USD		40		40,267
4.00%, 02/15/30 (Call 02/15/25)(a)	USD		25		25,188
5.00%, 05/01/23 (Call 03/02/20)	USD		50		50,866
5.38%, 01/15/24 (Call 02/20/20)	USD		75		76,425
5.75%, 02/01/26 (Call 02/01/21)	USD		120		126,784
Lamb Weston Holdings Inc.
4.63%, 11/01/24 (Call 11/01/21)(a)	USD		100		104,971
4.88%, 11/01/26 (Call 11/01/21)(a)	USD		125		131,969
Laredo Petroleum Inc.
9.50%, 01/15/25 (Call 01/15/22)	USD		95		86,213
10.13%, 01/15/28 (Call 01/15/23)	USD		60		53,475
Lennar Corp.
4.13%, 01/15/22 (Call 10/15/21)	USD		75		76,969
4.50%, 04/30/24 (Call 01/31/24)	USD		100		106,826
4.75%, 04/01/21 (Call 02/01/21)	USD		75		76,633
4.75%, 11/15/22 (Call 08/15/22)	USD		75		79,031
4.75%, 05/30/25 (Call 02/28/25)	USD		100		109,105
4.75%, 11/29/27 (Call 05/29/27)	USD		125		138,094
4.88%, 12/15/23 (Call 09/15/23)	USD		55		59,060
5.88%, 11/15/24 (Call 05/15/24)	USD		100		112,560
Level 3 Financing Inc.
4.63%, 09/15/27 (Call 09/15/22)(a)	USD		145		149,080
5.13%, 05/01/23 (Call 03/02/20)	USD		175		175,821
5.25%, 03/15/26 (Call 03/15/21)	USD		125		130,096
5.38%, 08/15/22 (Call 03/02/20)	USD		139		139,556
5.38%, 01/15/24 (Call 03/02/20)	USD		125		126,875
5.38%, 05/01/25 (Call 05/01/20)	USD		125		129,063
5.63%, 02/01/23 (Call 03/02/20)	USD		75		75,210
Levi Strauss & Co., 3.38%, 03/15/27 (Call 03/15/22)	EUR		100		117,139
Liberty Mutual Group Inc., 3.63%, 05/23/59 (Call 05/23/24)(b)(d)	EUR		100		115,409
Lions Gate Capital Holdings LLC
5.88%, 11/01/24 (Call 03/02/20)(a)	USD		100		97,764
6.38%, 02/01/24 (Call 02/01/21)(a)	USD		40		40,030
Live Nation Entertainment Inc., 4.75%, 10/15/27 (Call 10/15/22)(a)	USD		150		154,500
LKQ European Holdings BV, 4.13%, 04/01/28 (Call 04/01/23)(b)	EUR		100		121,341

11

Schedule of Investments  (unaudited) (continued) January 31, 2020 iShares^® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets)

Security		Par (000)		Value
United States (continued)
LKQ Italia Bondco SpA, 3.88%, 04/01/24 (Call 01/01/24)(b)	EUR		100	$	122,777
LPL Holdings Inc.
4.63%, 11/15/27 (Call 11/15/22)(a)	USD		50		50,875
5.75%, 09/15/25 (Call 03/15/20)(a)	USD		150		156,419
Mallinckrodt International Finance SA/Mallinckrodt CB LLC
5.50%, 04/15/25 (Call 04/15/20)(a)	USD		100		36,500
5.63%, 10/15/23 (Call 03/02/20)(a)	USD		100		38,766
5.75%, 08/01/22 (Call 03/02/20)(a)	USD		100		47,625
Marriott Ownership Resorts Inc./ILG LLC, 6.50%, 09/15/26 (Call 09/15/21)	USD		100		108,470
Matador Resources Co., 5.88%, 09/15/26 (Call 09/15/21)	USD		175		170,734
Match Group Inc., 5.00%, 12/15/27 (Call 12/15/22)(a)	USD		75		78,816
Mattel Inc.
5.88%, 12/15/27 (Call 12/15/22)(a)	USD		60		63,141
6.75%, 12/31/25 (Call 12/31/20)(a)(c)	USD		250		268,125
Mauser Packaging Solutions Holding Co.
4.75%, 04/15/24 (Call 04/15/20)(b)	EUR		100		112,956
5.50%, 04/15/24 (Call 04/15/20)(a)	USD		225		231,267
7.25%, 04/15/25 (Call 04/15/20)(a)(c)	USD		225		223,875
MEDNAX Inc.
5.25%, 12/01/23 (Call 03/02/20)(a)	USD		100		102,226
6.25%, 01/15/27 (Call 01/15/22)(a)	USD		165		168,094
Meredith Corp., 6.88%, 02/01/26 (Call 02/01/21)(c)	USD		200		205,500
Meritage Homes Corp., 6.00%, 06/01/25 (Call 03/01/25)	USD		50		56,539
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer Inc.
4.50%, 09/01/26 (Call 06/01/26)	USD		75		78,000
5.63%, 05/01/24 (Call 02/01/24)	USD		200		217,783
5.75%, 02/01/27 (Call 11/01/26)(c)	USD		130		144,357
MGM Resorts International
4.63%, 09/01/26 (Call 06/01/26)	USD		100		104,993
5.50%, 04/15/27 (Call 01/15/27)	USD		170		187,000
5.75%, 06/15/25 (Call 03/15/25)	USD		175		194,766
6.00%, 03/15/23(c)	USD		200		219,440
7.75%, 03/15/22	USD		150		166,475
Molina Healthcare Inc., 5.38%, 11/15/22 (Call 08/15/22)	USD		150		158,827
Moss Creek Resources Holdings Inc., 10.50%, 05/15/27 (Call 05/15/22)(a)	USD		75		60,198
MPH Acquisition Holdings LLC, 7.13%, 06/01/24 (Call 03/02/20)(a)	USD		250		242,684
MPT Operating Partnership LP/MPT Finance Corp.
3.33%, 03/24/25 (Call 12/24/24)	EUR		100		122,829
3.69%, 06/05/28 (Call 04/06/28)	GBP		100		140,182
4.00%, 08/19/22 (Call 05/19/22)	EUR		100		120,290
4.63%, 08/01/29 (Call 08/01/24)(c)	USD		140		146,585
5.00%, 10/15/27 (Call 10/15/22)	USD		225		237,094
5.25%, 08/01/26 (Call 08/01/21)	USD		75		78,891
6.38%, 03/01/24 (Call 03/02/20)	USD		75		77,369
MSCI Inc.
4.00%, 11/15/29 (Call 11/15/24)(a)	USD		125		127,930
4.75%, 08/01/26 (Call 08/01/21)(a)	USD		100		104,930
5.25%, 11/15/24 (Call 03/02/20)(a)(c)	USD		56		57,574
5.38%, 05/15/27 (Call 05/15/22)(a)	USD		75		81,381
5.75%, 08/15/25 (Call 08/15/20)(a)	USD		100		104,345
Murphy Oil Corp.
5.75%, 08/15/25 (Call 08/15/20)	USD		75		77,237
5.88%, 12/01/27 (Call 12/01/22)(c)	USD		80		82,000
6.88%, 08/15/24 (Call 03/02/20)	USD		50		52,131

Security		Par (000)		Value
United States (continued)
Nabors Industries Inc.
4.63%, 09/15/21	USD		13	$	13,000
5.75%, 02/01/25 (Call 11/01/24)	USD		150		123,000
Nabors Industries Ltd.
7.25%, 01/15/26 (Call 07/15/22)(a)	USD		50		49,915
7.50%, 01/15/28 (Call 01/15/23)(a)(c)	USD		50		49,500
Nationstar Mortgage Holdings Inc.
6.00%, 01/15/27 (Call 01/15/23)(a)	USD		35		35,634
8.13%, 07/15/23 (Call 07/15/20)(a)	USD		125		132,631
9.13%, 07/15/26 (Call 07/15/21)(a)	USD		150		166,755
Nationstar Mortgage LLC/Nationstar Capital Corp., 6.50%, 07/01/21 (Call 02/15/20)	USD		67		66,985
Navient Corp.
5.00%, 03/15/27 (Call 09/15/26)(c)	USD		100		99,750
5.50%, 01/25/23	USD		175		183,526
5.88%, 10/25/24	USD		75		79,305
6.13%, 03/25/24	USD		150		160,246
6.50%, 06/15/22	USD		175		186,375
6.63%, 07/26/21	USD		100		104,750
6.75%, 06/25/25	USD		75		81,589
6.75%, 06/15/26(c)	USD		75		81,642
7.25%, 01/25/22(c)	USD		175		187,906
7.25%, 09/25/23	USD		75		83,195
Navios Maritime Holdings Inc./Navios Maritime Finance II U.S. Inc., 7.38%, 01/15/22 (Call 03/03/20)(a)	USD		100		53,444
Navistar International Corp., 6.63%, 11/01/25 (Call 11/01/20)(a)	USD		150		157,406
NCR Corp.
5.00%, 07/15/22 (Call 03/02/20)(c)	USD		100		100,845
5.75%, 09/01/27 (Call 09/01/22)(a)	USD		75		79,846
6.13%, 09/01/29 (Call 09/01/24)(a)	USD		85		92,806
6.38%, 12/15/23 (Call 03/02/20)	USD		100		102,455
Neiman Marcus Group Ltd. LLC/Neiman Marcus Group LLC/Mariposa Borrower/NMG, 8.00%, 10/25/24 (Call 03/02/20)(a)	USD		83		27,308
Netflix Inc.
3.63%, 05/15/27	EUR		200		236,193
3.63%, 06/15/30 (Call 03/15/30)(b)	EUR		200		229,622
3.88%, 11/15/29(b)	EUR		100		116,832
4.38%, 11/15/26(c)	USD		175		184,025
4.63%, 05/15/29	EUR		200		246,908
4.88%, 04/15/28	USD		275		293,569
4.88%, 06/15/30 (Call 03/15/30)(a)(c)	USD		165		172,287
5.38%, 02/01/21	USD		75		77,172
5.38%, 11/15/29(a)	USD		135		146,892
5.50%, 02/15/22(c)	USD		75		79,414
5.75%, 03/01/24(c)	USD		50		55,451
5.88%, 02/15/25	USD		100		112,361
5.88%, 11/15/28	USD		300		337,830
6.38%, 05/15/29	USD		150		175,001
Nexstar Broadcasting Inc.
5.63%, 08/01/24 (Call 02/11/20)(a)	USD		125		130,103
5.63%, 07/15/27 (Call 07/15/22)(a)	USD		285		299,754
NextEra Energy Operating Partners LP
3.88%, 10/15/26 (Call 07/15/26)(a)	USD		75		75,584
4.25%, 07/15/24 (Call 04/15/24)(a)	USD		95		98,893
4.25%, 09/15/24 (Call 07/15/24)(a)	USD		100		104,095
4.50%, 09/15/27 (Call 06/15/27)(a)	USD		75		78,281
NGL Energy Partners LP/NGL Energy Finance Corp.
7.50%, 11/01/23 (Call 03/02/20)	USD		100		99,970

12

Schedule of Investments  (unaudited) (continued) January 31, 2020 iShares^® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets)

Security		Par (000)		Value
United States (continued)
7.50%, 04/15/26 (Call 04/15/22)(a)	USD		70	$	67,638
Nielsen Co Luxembourg SARL/The, 5.00%, 02/01/25 (Call 03/02/20)(a)(c)	USD		75		76,509
Nielsen Finance LLC/Nielsen Finance Co., 5.00%, 04/15/22 (Call 03/02/20)(a)	USD		325		325,704
Noble Holding International Ltd.
7.88%, 02/01/26 (Call 02/01/21)(a)	USD		110		79,535
7.95%, 04/01/25 (Call 01/01/25)(c)	USD		50		23,441
NortonLifeLock Inc.
3.95%, 06/15/22 (Call 03/15/22)	USD		75		76,890
5.00%, 04/15/25 (Call 04/15/20)(a)	USD		150		152,893
Novelis Corp.
4.75%, 01/30/30 (Call 01/30/25)(a)	USD		195		195,926
5.88%, 09/30/26 (Call 09/30/21)(a)	USD		250		265,312
NRG Energy Inc.
5.25%, 06/15/29 (Call 06/15/24)(a)	USD		90		96,984
5.75%, 01/15/28 (Call 01/15/23)	USD		150		161,437
6.63%, 01/15/27 (Call 07/15/21)	USD		250		268,750
7.25%, 05/15/26 (Call 05/15/21)	USD		125		135,087
NuStar Logistics LP
5.63%, 04/28/27 (Call 01/28/27)	USD		75		77,250
6.00%, 06/01/26 (Call 03/01/26)	USD		75		79,259
Oasis Petroleum Inc.
6.25%, 05/01/26 (Call 05/01/21)(a)	USD		50		37,758
6.88%, 03/15/22 (Call 03/02/20)	USD		125		120,000
OI European Group BV, 3.13%, 11/15/24 (Call 08/15/24)(b)	EUR		100		116,513
Olin Corp.
5.00%, 02/01/30 (Call 02/01/24)	USD		75		76,175
5.13%, 09/15/27 (Call 03/15/22)	USD		100		104,125
5.63%, 08/01/29 (Call 08/01/24)	USD		95		100,225
Ortho-Clinical Diagnostics Inc./Ortho-Clinical Diagnostics SA, 6.63%, 05/15/22 (Call 03/02/20)(a)	USD		46		45,928
Outfront Media Capital LLC/Outfront Media Capital Corp.
4.63%, 03/15/30 (Call 03/15/25)(a)	USD		75		77,061
5.00%, 08/15/27 (Call 08/15/22)(a)	USD		135		141,392
5.63%, 02/15/24 (Call 03/02/20)	USD		50		51,047
Owens-Brockway Glass Container Inc.
5.00%, 01/15/22(a)	USD		100		103,547
5.88%, 08/15/23(a)	USD		125		134,064
Pacific Drilling SA, 8.38%, 10/01/23 (Call 10/01/20)(a)	USD		100		82,900
Panther BF Aggregator 2 LP/Panther Finance Co. Inc.
4.38%, 05/15/26 (Call 05/15/22)(b)	EUR		100		114,095
6.25%, 05/15/26 (Call 05/15/22)(a)	USD		165		176,979
8.50%, 05/15/27 (Call 05/15/22)(a)	USD		300		322,500
Par Pharmaceutical Inc., 7.50%, 04/01/27 (Call 04/01/22)(a)	USD		255		259,424
Parsley Energy LLC/Parsley Finance Corp.
5.25%, 08/15/25 (Call 08/15/20)(a)	USD		100		102,844
5.38%, 01/15/25 (Call 03/02/20)(a)(c)	USD		85		87,665
5.63%, 10/15/27 (Call 10/15/22)(a)	USD		100		105,728
6.25%, 06/01/24 (Call 03/02/20)(a)	USD		50		51,906
PBF Holding Co. LLC/PBF Finance Corp.
6.00%, 02/15/28 (Call 02/15/23)(a)	USD		110		112,486
7.00%, 11/15/23 (Call 02/14/20)	USD		75		77,708
7.25%, 06/15/25 (Call 06/15/20)	USD		100		106,375
PDC Energy Inc.
5.75%, 05/15/26 (Call 05/15/21)	USD		100		96,905
6.13%, 09/15/24 (Call 03/02/20)	USD		50		49,996

Security		Par (000)		Value
United States (continued)
Peabody Energy Corp.
6.00%, 03/31/22 (Call 03/02/20)(a)	USD		75	$	69,237
6.38%, 03/31/25 (Call 03/31/20)(a)	USD		75		62,162
Penske Automotive Group Inc.
5.50%, 05/15/26 (Call 05/15/21)	USD		60		62,400
5.75%, 10/01/22 (Call 03/02/20)	USD		75		75,975
Performance Food Group Inc., 5.50%, 10/15/27 (Call 10/15/22)(a)	USD		155		162,834
PetSmart Inc.
5.88%, 06/01/25 (Call 06/01/20)(a)	USD		192		197,731
7.13%, 03/15/23 (Call 03/02/20)(a)	USD		300		297,172
8.88%, 06/01/25 (Call 06/01/20)(a)(c)	USD		100		102,038
Photo Holdings Merger Sub Inc., 8.50%, 10/01/26 (Call 10/01/22)(a)(c)	USD		125		116,875
Pilgrim’s Pride Corp.
5.75%, 03/15/25 (Call 03/15/20)(a)	USD		150		154,432
5.88%, 09/30/27 (Call 09/30/22)(a)	USD		125		132,761
Pitney Bowes Inc.
4.13%, 10/01/21 (Call 09/01/21)	USD		75		76,492
4.63%, 05/15/22 (Call 04/15/22)	USD		75		76,184
4.63%, 03/15/24 (Call 12/15/23)(c)	USD		75		71,288
5.20%, 04/01/23 (Call 03/01/23)	USD		50		50,016
Post Holdings Inc.
5.00%, 08/15/26 (Call 08/15/21)(a)	USD		250		259,297
5.50%, 03/01/25 (Call 03/01/20)(a)(c)	USD		125		129,818
5.50%, 12/15/29 (Call 12/15/24)(a)(c)	USD		120		127,032
5.63%, 01/15/28 (Call 12/01/22)(a)	USD		175		185,783
5.75%, 03/01/27 (Call 03/01/22)(a)	USD		225		237,867
Prestige Brands Inc.
5.13%, 01/15/28 (Call 01/15/23)(a)	USD		37		38,657
6.38%, 03/01/24 (Call 03/02/20)(a)	USD		100		103,375
Prime Security Services Borrower LLC/Prime Finance Inc. 5.25%, 04/15/24(a)	USD		140		146,309
5.75%, 04/15/26(a)	USD		205		216,016
6.25%, 01/15/28 (Call 01/15/23)(a)	USD		170		167,957
9.25%, 05/15/23 (Call 02/15/20)(a)	USD		228		238,796
PTC Inc.
3.63%, 02/15/25 (Call 02/15/22)(a)	USD		40		40,350
4.00%, 02/15/28 (Call 02/15/23)(a)	USD		35		35,350
PulteGroup Inc.
4.25%, 03/01/21 (Call 02/01/21)	USD		50		50,875
5.00%, 01/15/27 (Call 10/15/26)	USD		75		82,884
5.50%, 03/01/26 (Call 12/01/25)	USD		105		117,632
QEP Resources Inc.
5.25%, 05/01/23 (Call 02/01/23)	USD		75		72,037
5.38%, 10/01/22 (Call 07/01/22)	USD		75		75,188
5.63%, 03/01/26 (Call 12/01/25)(c)	USD		75		67,125
Qorvo Inc.
4.38%, 10/15/29 (Call 10/15/24)(a)	USD		65		67,503
5.50%, 07/15/26 (Call 07/15/21)	USD		150		158,280
Quicken Loans Inc.
5.25%, 01/15/28 (Call 01/15/23)(a)	USD		175		181,984
5.75%, 05/01/25 (Call 05/01/20)(a)	USD		200		206,624
QVC Inc.
4.38%, 03/15/23	USD		125		129,486
4.45%, 02/15/25 (Call 11/15/24)	USD		100		102,745
4.75%, 02/15/27	USD		60		60,554
4.85%, 04/01/24	USD		100		105,033
5.13%, 07/02/22	USD		75		79,125
Qwest Corp., 6.75%, 12/01/21	USD		175		187,250

13

Schedule of Investments  (unaudited) (continued) January 31, 2020 iShares^® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets)

Security	Par (000)			Value
United States (continued)
Rackspace Hosting Inc., 8.63%, 11/15/24 (Call 03/02/20)(a)(c)		USD	175	$	173,328
Range Resources Corp.
4.88%, 05/15/25 (Call 02/15/25)(c)		USD	100		77,992
5.00%, 08/15/22 (Call 05/15/22)		USD	125		118,463
5.00%, 03/15/23 (Call 12/15/22)(c)		USD	100		86,250
9.25%, 02/01/26 (Call 02/01/22)(a)		USD	75		66,389
Realogy Group LLC/Realogy Co-Issuer Corp.
4.88%, 06/01/23 (Call 03/01/23)(a)(c)		USD	75		75,000
5.25%, 12/01/21 (Call 03/02/20)(a)		USD	75		75,617
9.38%, 04/01/27 (Call 04/01/22)(a)		USD	100		103,740
Refinitiv U.S. Holdings Inc.
4.50%, 05/15/26 (Call 11/15/21)(b)		EUR	100		120,235
6.25%, 05/15/26 (Call 11/15/21)(a)		USD	175		189,656
6.88%, 11/15/26 (Call 11/15/21)(b)		EUR	100		125,530
8.25%, 11/15/26 (Call 11/15/21)(a)		USD	250		279,219
RegionalCare Hospital Partners Holdings Inc., 8.25%, 05/01/23 (Call 03/02/20)(a)		USD	125		131,145
RegionalCare Hospital Partners Holdings Inc./LifePoint Health Inc., 9.75%, 12/01/26 (Call 12/01/21)(a)		USD	225		250,564
Reynolds Group Issuer Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer Lu
5.13%, 07/15/23 (Call 03/02/20)(a)		USD	225		229,509
7.00%, 07/15/24 (Call 03/02/20)(a)		USD	125		128,531
Rite Aid Corp., 6.13%, 04/01/23 (Call 03/02/20)(a)		USD	250		226,250
Rowan Companies Inc., 4.88%, 06/01/22 (Call 03/01/22)		USD	75		55,686
Ryman Hospitality Properties Inc., 4.75%, 10/15/27 (Call 10/15/22)(a)		USD	115		118,983
Sabre GLBL Inc., 5.25%, 11/15/23 (Call 03/02/20)(a)		USD	125		127,969
Samsonite Finco Sarl, 3.50%, 05/15/26 (Call 05/15/21)(b)		EUR	100		110,200
SBA Communications Corp.
3.88%, 02/15/27 (Call 02/15/23)(a)		USD	100		101,375
4.00%, 10/01/22 (Call 03/02/20)		USD	150		152,625
4.88%, 07/15/22 (Call 02/20/20)		USD	100		101,270
4.88%, 09/01/24 (Call 03/02/20)		USD	150		155,062
Scientific Games International Inc.
3.38%, 02/15/26 (Call 02/15/21)(b)		EUR	100		112,709
5.00%, 10/15/25 (Call 10/15/20)(a)		USD	175		179,980
7.00%, 05/15/28 (Call 05/15/23)(a)		USD	115		120,966
7.25%, 11/15/29 (Call 11/15/24)(a)(c)		USD	65		69,692
8.25%, 03/15/26 (Call 03/15/22)(a)		USD	200		216,004
Sealed Air Corp.
4.00%, 12/01/27 (Call 09/01/27)(a)		USD	70		70,601
4.50%, 09/15/23 (Call 06/15/23)(b)		EUR	100		124,013
4.88%, 12/01/22 (Call 09/01/22)(a)		USD	75		78,934
5.13%, 12/01/24 (Call 09/01/24)(a)		USD	75		80,913
5.25%, 04/01/23 (Call 01/01/23)(a)		USD	50		53,262
5.50%, 09/15/25 (Call 06/15/25)(a)		USD	75		82,476
Select Medical Corp., 6.25%, 08/15/26 (Call 08/15/22)(a)		USD	200		216,032
Sensata Technologies Inc., 4.38%, 02/15/30 (Call 11/15/29)(a)(c)		USD	70		70,955
Service Corp. International/U.S.
4.63%, 12/15/27 (Call 12/15/22)		USD	75		78,657
5.13%, 06/01/29 (Call 06/01/24)		USD	100		106,610
5.38%, 05/15/24 (Call 03/02/20)		USD	125		128,320
ServiceMaster Co. LLC (The), 5.13%, 11/15/24 (Call 02/11/20)(a)		USD	150		155,062
SESI LLC
7.13%, 12/15/21 (Call 03/02/20)(c)		USD	100		87,340
7.75%, 09/15/24 (Call 09/15/20)		USD	75		46,684

Security	Par (000)			Value
United States (continued)
Signature Aviation U.S. Holdings Inc.
4.00%, 03/01/28 (Call 03/01/23)(a)		USD	115	$	113,800
5.38%, 05/01/26 (Call 05/01/21)(a)		USD	100		103,509
Silgan Holdings Inc., 3.25%, 03/15/25 (Call 03/15/20)		EUR	100		112,263
Sinclair Television Group Inc.
5.13%, 02/15/27 (Call 08/15/21)(a)(c)		USD	50		51,311
5.50%, 03/01/30 (Call 12/01/24)(a)		USD	100		102,215
5.63%, 08/01/24 (Call 02/18/20)(a)		USD	125		128,756
Sirius XM Radio Inc.
3.88%, 08/01/22 (Call 08/01/20)(a)		USD	125		126,842
4.63%, 05/15/23 (Call 03/02/20)(a)		USD	100		100,828
4.63%, 07/15/24 (Call 07/15/21)(a)		USD	250		259,531
5.00%, 08/01/27 (Call 08/01/22)(a)		USD	250		262,428
5.38%, 04/15/25 (Call 04/15/20)(a)		USD	175		180,486
5.38%, 07/15/26 (Call 07/15/21)(a)		USD	175		184,406
5.50%, 07/01/29 (Call 07/01/24)(a)		USD	190		204,696
Six Flags Entertainment Corp.
4.88%, 07/31/24 (Call 03/02/20)(a)		USD	150		153,187
5.50%, 04/15/27 (Call 04/15/22)(a)(c)		USD	65		67,363
SM Energy Co.
5.00%, 01/15/24 (Call 03/02/20)		USD	75		68,377
5.63%, 06/01/25 (Call 06/01/20)(c)		USD	75		67,688
6.13%, 11/15/22 (Call 03/02/20)		USD	75		74,264
6.63%, 01/15/27 (Call 01/15/22)(c)		USD	75		67,740
6.75%, 09/15/26 (Call 09/15/21)(c)		USD	75		68,344
Solera LLC/Solera Finance Inc., 10.50%, 03/01/24 (Call 03/02/20)(a)		USD	275		291,087
Southwestern Energy Co.
6.20%, 01/23/25 (Call 10/23/24)		USD	125		104,063
7.50%, 04/01/26 (Call 04/01/21)(c)		USD	125		104,114
7.75%, 10/01/27 (Call 10/01/22)(c)		USD	75		62,156
Spectrum Brands Inc.
4.00%, 10/01/26 (Call 10/01/21)(b)		EUR	100		116,552
5.75%, 07/15/25 (Call 07/15/20)		USD	175		181,736
Springleaf Finance Corp.
5.38%, 11/15/29 (Call 05/15/29)		USD	150		156,167
5.63%, 03/15/23		USD	100		107,125
6.13%, 05/15/22		USD	200		213,626
6.13%, 03/15/24 (Call 09/15/23)		USD	215		234,678
6.63%, 01/15/28 (Call 07/15/27)		USD	135		151,852
6.88%, 03/15/25		USD	200		226,289
7.13%, 03/15/26		USD	250		287,150
7.75%, 10/01/21		USD	100		107,627
Sprint Communications Inc.
6.00%, 11/15/22		USD	325		335,450
11.50%, 11/15/21		USD	175		196,219
Sprint Corp.
7.13%, 06/15/24		USD	400		413,500
7.25%, 09/15/21		USD	300		314,226
7.25%, 02/01/28 (Call 10/01/27)(a)		USD	100		99,000
7.63%, 02/15/25 (Call 11/15/24)		USD	250		261,063
7.63%, 03/01/26 (Call 11/01/25)		USD	225		234,792
7.88%, 09/15/23		USD	500		531,195
SS&C Technologies Inc., 5.50%, 09/30/27 (Call 03/30/22)(a)		USD	325		344,597
SSL Robotics LLC, 9.75%, 12/31/23 (Call 12/15/21)(a)		USD	180		198,576
Standard Industries Inc./NJ
2.25%, 11/21/26 (Call 08/21/26)(b)		EUR	100		112,420
4.75%, 01/15/28 (Call 01/15/23)(a)		USD	125		128,438
5.00%, 02/15/27 (Call 02/15/22)(a)		USD	75		78,215

14

Schedule of Investments  (unaudited) (continued) January 31, 2020 iShares^® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets)

Security	Par (000)			Value
United States (continued)
5.38%, 11/15/24 (Call 03/02/20)(a)		USD	250	$	256,076
5.50%, 02/15/23 (Call 03/02/20)(a)		USD	100		101,525
6.00%, 10/15/25 (Call 10/15/20)(a)		USD	125		130,372
Staples Inc.
7.50%, 04/15/26 (Call 04/15/22)(a)		USD	300		307,845
10.75%, 04/15/27 (Call 04/15/22)(a)(c)		USD	160		162,468
Starwood Property Trust Inc.
3.63%, 02/01/21 (Call 11/01/20)		USD	75		75,293
4.75%, 03/15/25 (Call 09/15/24)(c)		USD	75		78,379
5.00%, 12/15/21 (Call 09/15/21)		USD	150		153,562
Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.50%, 06/01/24 (Call 03/02/20)		USD	75		76,624
Summit Materials LLC/Summit Materials Finance Corp., 6.13%, 07/15/23 (Call 02/18/20)		USD	100		101,160
Sunoco LP/Sunoco Finance Corp.
4.88%, 01/15/23 (Call 03/02/20)		USD	175		179,375
5.50%, 02/15/26 (Call 02/15/21)		USD	100		102,876
5.88%, 03/15/28 (Call 03/15/23)(c)		USD	60		63,450
6.00%, 04/15/27 (Call 04/15/22)		USD	105		110,676
Talen Energy Supply LLC
6.50%, 06/01/25 (Call 06/01/20)		USD	100		77,667
6.63%, 01/15/28 (Call 01/15/23)(a)		USD	70		69,642
7.25%, 05/15/27 (Call 05/15/22)(a)		USD	115		117,803
10.50%, 01/15/26 (Call 01/15/22)(a)		USD	100		88,698
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.
4.75%, 10/01/23 (Call 10/01/20)(a)		USD	75		75,194
5.50%, 09/15/24 (Call 03/02/20)(a)		USD	100		101,088
5.50%, 01/15/28 (Call 01/15/23)(a)		USD	150		150,062
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
4.25%, 11/15/23 (Call 03/02/20)		USD	100		101,000
5.00%, 01/15/28 (Call 01/15/23)		USD	100		101,750
5.13%, 02/01/25 (Call 03/02/20)		USD	50		51,574
5.25%, 05/01/23 (Call 03/02/20)		USD	75		75,756
5.38%, 02/01/27 (Call 02/01/22)(c)		USD	100		104,055
5.50%, 03/01/30 (Call 03/01/25)(a)		USD	170		175,272
5.88%, 04/15/26 (Call 04/15/21)		USD	200		211,485
6.50%, 07/15/27 (Call 07/15/22)(c)		USD	125		136,562
6.75%, 03/15/24 (Call 03/02/20)		USD	75		77,626
6.88%, 01/15/29 (Call 01/15/24)(c)		USD	100		110,260
Taylor Morrison Communities Inc.
5.75%, 01/15/28 (Call 10/15/27)(a)		USD	65		71,192
5.88%, 06/15/27 (Call 03/15/27)(a)		USD	75		83,739
TEGNA Inc.
4.63%, 03/15/28 (Call 03/15/23)(a)		USD	140		140,311
5.00%, 09/15/29 (Call 09/15/24)(a)		USD	145		146,424
6.38%, 10/15/23 (Call 02/11/20)		USD	100		102,095
Tempur Sealy International Inc.
5.50%, 06/15/26 (Call 06/15/21)		USD	75		78,598
5.63%, 10/15/23 (Call 03/02/20)		USD	75		77,126
Tenet Healthcare Corp.
4.63%, 07/15/24 (Call 07/15/20)		USD	300		307,875
4.63%, 09/01/24 (Call 09/01/21)(a)		USD	135		139,509
4.88%, 01/01/26 (Call 03/01/22)(a)		USD	360		373,725
5.13%, 05/01/25 (Call 05/01/20)		USD	200		203,500
5.13%, 11/01/27 (Call 11/01/22)(a)		USD	240		251,064
6.25%, 02/01/27 (Call 02/01/22)(a)		USD	260		275,138
6.75%, 06/15/23		USD	300		324,882
7.00%, 08/01/25 (Call 08/01/20)		USD	75		77,813

Security	Par (000)			Value
United States (continued)
8.13%, 04/01/22		USD	450	$	491,557
Tenneco Inc., 4.88%, 04/15/22 (Call 03/02/20)(b)		EUR	175		193,988
TerraForm Power Operating LLC
4.25%, 01/31/23 (Call 10/31/22)(a)		USD	100		102,627
4.75%, 01/15/30 (Call 01/15/25)(a)		USD	125		131,673
5.00%, 01/31/28 (Call 07/31/27)(a)		USD	75		81,297
Terrier Media Buyer Inc., 8.88%, 12/15/27 (Call 12/15/22)(a)		USD	175		180,031
Tesla Inc., 5.30%, 08/15/25 (Call 08/15/20)(a)(c)		USD	300		304,125
T-Mobile USA Inc.
4.00%, 04/15/22 (Call 03/16/22)		USD	75		77,111
4.50%, 02/01/26 (Call 02/01/21)		USD	150		154,639
4.75%, 02/01/28 (Call 02/01/23)		USD	250		265,498
5.13%, 04/15/25 (Call 04/15/20)		USD	75		77,296
5.38%, 04/15/27 (Call 04/15/22)		USD	75		80,282
6.00%, 03/01/23 (Call 02/11/20)		USD	175		178,178
6.00%, 04/15/24 (Call 02/11/20)		USD	225		231,884
6.38%, 03/01/25 (Call 02/11/20)		USD	325		336,166
6.50%, 01/15/24 (Call 02/11/20)		USD	150		154,051
6.50%, 01/15/26 (Call 01/15/21)		USD	325		346,499
Toll Brothers Finance Corp.
3.80%, 11/01/29 (Call 08/01/29)		USD	75		75,350
4.35%, 02/15/28 (Call 11/15/27)		USD	50		52,630
4.38%, 04/15/23 (Call 01/15/23)		USD	50		52,484
4.88%, 03/15/27 (Call 12/15/26)		USD	85		93,381
5.88%, 02/15/22 (Call 11/15/21)		USD	50		52,954
TransDigm Inc.
5.50%, 11/15/27 (Call 11/15/22)(a)		USD	420		423,612
6.25%, 03/15/26 (Call 03/15/22)(a)		USD	675		728,578
6.38%, 06/15/26 (Call 06/15/21)		USD	250		263,900
6.50%, 07/15/24 (Call 03/02/20)		USD	200		206,522
6.50%, 05/15/25 (Call 05/15/20)		USD	150		156,061
7.50%, 03/15/27 (Call 03/15/22)		USD	75		82,125
Transocean Guardian Ltd., 5.88%, 01/15/24 (Call 07/15/21)(a)		USD	104		106,734
Transocean Inc.
7.25%, 11/01/25 (Call 11/01/21)(a)		USD	100		93,518
8.00%, 02/01/27 (Call 02/01/23)(a)		USD	65		60,531
9.00%, 07/15/23 (Call 02/16/20)(a)		USD	125		134,219
Transocean Phoenix 2 Ltd., 7.75%, 10/15/24 (Call 10/15/20)(a)(c)		USD	70		74,076
Transocean Pontus Ltd., 6.13%, 08/01/25 (Call 08/01/21)(a)		USD	67		68,691
Transocean Poseidon Ltd., 6.88%, 02/01/27 (Call 02/01/22)(a)		USD	80		84,000
Transocean Proteus Ltd., 6.25%, 12/01/24 (Call 12/01/20)(a)		USD	88		90,531
TRI Pointe Group Inc./TRI Pointe Homes Inc., 5.88%, 06/15/24		USD	50		54,498
Triumph Group Inc.
6.25%, 09/15/24 (Call 09/15/20)(a)		USD	50		51,617
7.75%, 08/15/25 (Call 08/15/20)		USD	67		65,451
Tronox Finance PLC, 5.75%, 10/01/25 (Call 10/01/20)(a)(c)		USD	75		74,508
Tronox Inc., 6.50%, 04/15/26 (Call 04/15/21)(a)(c)		USD	100		100,062
U.S. Steel Corp.
6.25%, 03/15/26 (Call 03/15/21)		USD	100		84,438
6.88%, 08/15/25 (Call 08/15/20)(c)		USD	125		112,500
Uber Technologies Inc.
7.50%, 11/01/23 (Call 11/01/20)(a)		USD	75		78,849
7.50%, 09/15/27 (Call 09/15/22)(a)		USD	190		200,629

15

Schedule of Investments  (unaudited) (continued) January 31, 2020 iShares^® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets)

Security	Par (000)			Value
United States (continued)
8.00%, 11/01/26 (Call 11/01/21)(a)		USD	225	$	239,872
United Airlines Holdings Inc., 4.25%, 10/01/22		USD	50		51,765
United Rentals North America Inc.
3.88%, 11/15/27 (Call 11/15/22)		USD	118		119,256
4.63%, 10/15/25 (Call 10/15/20)		USD	130		133,000
4.88%, 01/15/28 (Call 01/15/23)		USD	275		286,691
5.25%, 01/15/30 (Call 01/15/25)(c)		USD	100		107,100
5.50%, 07/15/25 (Call 07/15/20)		USD	100		103,520
5.50%, 05/15/27 (Call 05/15/22)		USD	175		186,557
5.88%, 09/15/26 (Call 09/15/21)		USD	175		186,109
6.50%, 12/15/26 (Call 12/15/21)		USD	200		217,573
Uniti Group LP/Uniti Fiber Holdings Inc./CSL Capital LLC, 7.13%, 12/15/24 (Call 03/02/20)(a)		USD	75		59,438
Uniti Group LP/Uniti Group Finance Inc./CSL Capital LLC
6.00%, 04/15/23 (Call 03/02/20)(a)(c)		USD	100		95,852
8.25%, 10/15/23 (Call 03/02/20)(c)		USD	175		142,078
Univision Communications Inc.
5.13%, 05/15/23 (Call 03/02/20)(a)		USD	200		200,210
5.13%, 02/15/25 (Call 02/15/20)(a)(c)		USD	250		249,025
USA Compression Partners LP/USA Compression Finance Corp.
6.88%, 04/01/26 (Call 04/01/21)		USD	100		104,131
6.88%, 09/01/27 (Call 09/01/22)		USD	105		109,184
Valaris PLC, 7.75%, 02/01/26 (Call 11/01/25)		USD	150		75,139
Vector Group Ltd.
6.13%, 02/01/25 (Call 03/02/20)(a)		USD	125		124,121
10.50%, 11/01/26 (Call 11/01/21)(a)		USD	85		89,024
VeriSign Inc.
4.63%, 05/01/23 (Call 03/02/20)		USD	100		101,235
4.75%, 07/15/27 (Call 07/15/22)		USD	125		131,569
5.25%, 04/01/25 (Call 01/01/25)		USD	75		82,656
Veritas U.S. Inc./Veritas Bermuda Ltd., 10.50%, 02/01/24 (Call 02/11/20)(a)(c)		USD	200		183,381
Verscend Escrow Corp., 9.75%, 08/15/26 (Call 08/15/21)(a)		USD	200		217,500
Vertiv Group Corp., 9.25%, 10/15/24 (Call 03/02/20)(a)		USD	125		133,887
ViacomCBS Inc.
5.88%, 02/28/57 (Call 02/28/22)(d)		USD	100		104,903
6.25%, 02/28/57 (Call 02/28/27)(c)(d)		USD	100		113,531
ViaSat Inc.
5.63%, 09/15/25 (Call 09/15/20)(a)		USD	100		101,970
5.63%, 04/15/27 (Call 04/15/22)(a)		USD	105		109,841
VICI Properties LP/VICI Note Co. Inc.
3.50%, 02/15/25 (Call 02/15/22)(a)		USD	50		50,762
3.75%, 02/15/27 (Call 02/15/23)(a)		USD	45		45,225
4.13%, 08/15/30 (Call 02/15/25)(a)		USD	60		60,768
4.25%, 12/01/26 (Call 12/01/22)(a)		USD	200		205,500
4.63%, 12/01/29 (Call 12/01/24)(a)		USD	155		162,023
Viking Cruises Ltd., 5.88%, 09/15/27 (Call 09/15/22)(a)		USD	125		128,281
Vistra Energy Corp., 5.88%, 06/01/23 (Call 03/02/20)		USD	75		76,406
Vistra Operations Co. LLC
5.00%, 07/31/27 (Call 07/31/22)(a)(c)		USD	155		159,650
5.50%, 09/01/26 (Call 09/01/21)(a)		USD	175		181,941
5.63%, 02/15/27 (Call 02/15/22)(a)		USD	200		207,250
VOC Escrow Ltd., 5.00%, 02/15/28 (Call 02/15/23)(a)		USD	100		103,391
Western Digital Corp., 4.75%, 02/15/26 (Call 11/15/25)(c)		USD	375		398,789
Whiting Petroleum Corp.
5.75%, 03/15/21 (Call 12/15/20)(c)		USD	125		115,582
6.25%, 04/01/23 (Call 01/01/23)		USD	50		35,000
6.63%, 01/15/26 (Call 10/15/25)		USD	175		98,380

Security		Par/ Shares (000)		Value
United States (continued)
William Lyon Homes Inc., 5.88%, 01/31/25 (Call 03/02/20).	USD		100	$	103,031
WMG Acquisition Corp., 4.13%, 11/01/24 (Call 02/10/20)(b)	EUR		90		102,821
Wolverine Escrow LLC
8.50%, 11/15/24 (Call 11/15/21)(a)	USD		75		77,109
9.00%, 11/15/26 (Call 11/15/22)(a)	USD		150		155,025
13.13%, 11/15/27 (Call 11/15/22)(a)	USD		100		103,363
WPX Energy Inc.
4.50%, 01/15/30 (Call 01/15/25)	USD		100		100,625
5.25%, 09/15/24 (Call 06/15/24)	USD		100		104,847
5.25%, 10/15/27 (Call 10/15/22)	USD		90		93,872
5.75%, 06/01/26 (Call 06/01/21)	USD		75		78,889
8.25%, 08/01/23 (Call 06/01/23)	USD		43		49,565
WR Grace & Co.-Conn, 5.13%, 10/01/21(a)	USD		120		124,725
Wyndham Destinations Inc.
3.90%, 03/01/23 (Call 12/01/22)	USD		38		38,619
4.25%, 03/01/22 (Call 12/01/21)	USD		106		108,520
5.75%, 04/01/27 (Call 01/01/27)	USD		50		54,668
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.
4.25%, 05/30/23 (Call 02/28/23)(a)(c)	USD		75		77,422
5.25%, 05/15/27 (Call 02/15/27)(a)	USD		125		129,688
5.50%, 03/01/25 (Call 12/01/24)(a)	USD		275		287,025
Xerox Corp.
4.13%, 03/15/23 (Call 02/15/23)	USD		150		154,920
4.50%, 05/15/21	USD		150		153,199
XPO Logistics Inc.
6.13%, 09/01/23 (Call 03/02/20)(a)	USD		125		128,742
6.50%, 06/15/22 (Call 03/02/20)(a)	USD		175		178,006
6.75%, 08/15/24 (Call 08/15/21)(a)	USD		150		162,016
Yum! Brands Inc., 4.75%, 01/15/30 (Call 10/15/29)(a)	USD		120		128,250
Zayo Group LLC/Zayo Capital Inc.
5.75%, 01/15/27 (Call 01/15/22)(a)	USD		300		306,560
6.00%, 04/01/23 (Call 03/02/20)	USD		200		204,246
6.38%, 05/15/25 (Call 05/15/20)	USD		125		127,899
					124,772,957
Total Corporate Bonds & Notes — 97.9% (Cost: $188,789,506)					188,740,816
Short-Term Investments
Money Market Funds — 9.0%
BlackRock Cash Funds: Institutional, SL Agency Shares,     1.78%(j)(k)(l)			16,299		16,308,553
BlackRock Cash Funds: Treasury, SL Agency Shares,     1.50%(j)(k)			1,001		1,001,000
					17,309,553
Total Short-Term Investments — 9.0% (Cost: $17,300,495)					17,309,553
Total Investments in Securities — 106.9% (Cost: $206,090,001)					206,050,369
Other Assets, Less Liabilities — (6.9)%					(13,375,286	)
Net Assets — 100.0%				$	192,675,083

^(a)  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.

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

16

Schedule of Investments  (unaudited) (continued) January 31, 2020 iShares^® US & Intl High Yield Corp Bond ETF

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

^(d)  Security is issued at a fixed coupon rate, which converts to a variable rate at a specified date.

^(e)  Issuer filed for bankruptcy and/or is in default.

^(f)  Rounds to less than 1,000.

^(g)  Rounds to less than $1.

^(h)  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.

⁽ⁱ⁾  Perpetual security with no stated maturity date.

^(j)  Affiliate of the Fund.

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

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

Affiliates

Investments in issuers considered to be affiliates of the Fund during the three months ended January 31, 2020, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Shares Held at 10/31/19 (000)	Net Activity (000)		Shares Held at 01/31/20 (000)		Value at 01/31/20		Income			Net Realized Gain (Loss)	(a)		Change in Unrealized Appreciation (Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares	20,898	(4,599	)	16,299	$	16,308,553	$	27,027	(b)	$	2,225		$	(818	)
BlackRock Cash Funds: Treasury, SL Agency Shares	2,846	(1,845	)	1,001		1,001,000		3,918			—			—
					$	17,309,553	$	30,945		$	2,225		$	(818	)

^(a)  Includes realized capital gain distributions from an affiliated fund, if any.

^(b)  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.

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 January 31, 2020. 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
Corporate Bonds & Notes	$	—	$	188,740,816	$	—	$	188,740,816
Money Market Funds		17,309,553		—		—		17,309,553
	$	17,309,553	$	188,740,816	$	—	$	206,050,369

Currency Abbreviations
CAD	Canadian Dollar
EUR	Euro
GBP	British Pound

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