Consolidated Schedule of Investments  (unaudited) May 31, 2020 iShares^® MSCI Emerging Markets ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Argentina — 0.1%
Globant SA(a)(b)		124,190	$	17,412,680
Telecom Argentina SA, ADR		333,584		2,865,487
YPF SA, ADR		642,986		3,240,649
				23,518,816
Brazil — 3.7%
Ambev SA		17,696,815		40,665,105
Atacadao SA		1,513,400		5,152,320
B2W Cia. Digital(a)		787,029		13,276,794
B3 SA — Brasil, Bolsa, Balcao		7,707,401		64,641,070
Banco Bradesco SA		5,051,136		16,554,698
Banco BTG Pactual SA		849,800		7,641,957
Banco do Brasil SA		3,178,274		18,047,536
Banco Santander Brasil SA		1,537,300		7,217,902
BB Seguridade Participacoes SA		2,659,100		12,377,244
BR Malls Participacoes SA		2,953,588		5,334,959
BRF SA(a)		2,121,385		9,034,567
CCR SA		4,598,000		12,445,103
Centrais Eletricas Brasileiras SA		1,084,473		5,716,791
Cia Brasileira de Distribuicao		603,686		7,000,450
Cia. de Saneamento Basico do Estado de Sao Paulo		1,291,124		12,913,380
Cia. Siderurgica Nacional SA		2,404,528		4,569,006
Cielo SA		4,638,776		3,493,324
Cogna Educacao		6,743,180		6,530,745
Cosan SA		606,700		7,356,004
CPFL Energia SA		463,300		2,751,086
Embraer SA(a)		25		33
Energisa SA		639,500		5,593,020
Engie Brasil Energia SA		784,650		6,127,121
Equatorial Energia SA		3,265,900		12,056,728
Hapvida Participacoes e Investimentos SA(c)		842,500		8,510,164
Hypera SA		1,459,400		8,657,890
IRB Brasil Resseguros S/A		2,636,200		4,028,735
JBS SA		4,068,065		16,456,222
Klabin SA		2,614,400		9,487,917
Localiza Rent a Car SA		2,281,008		16,161,217
Lojas Renner SA		3,026,389		21,481,338
Magazine Luiza SA		2,758,400		32,682,705
Multiplan Empreendimentos Imobiliarios SA		1,068,309		4,069,767
Natura & Co. Holding SA		2,466,766		16,886,885
Notre Dame Intermedica Participacoes SA		1,822,000		20,900,112
Petrobras Distribuidora SA		2,734,100		10,893,912
Petroleo Brasileiro SA		14,211,974		54,533,619
Porto Seguro SA		380,700		3,315,555
Raia Drogasil SA		820,500		16,533,579
Rumo SA(a)		4,106,500		17,035,121
Sul America SA		1,078,536		8,906,546
Suzano SA(a)		2,035,200		14,187,305
TIM Participacoes SA		3,217,276		8,068,218
Ultrapar Participacoes SA		2,732,600		8,613,745
Vale SA		13,318,734		129,972,363
WEG SA		3,159,706		24,335,862
				742,215,720
Chile — 0.5%
Aguas Andinas SA, Class A		10,427,826		3,044,687
Banco de Chile		169,914,854		14,351,601
Banco de Credito e Inversiones SA		191,725		6,452,742
Banco Santander Chile		247,596,528		10,024,400

Security	Shares		Value
Chile (continued)
Cencosud SA		5,396,869	$	6,266,856
Cencosud Shopping SA		1,296,012		2,213,135
Cia. Cervecerias Unidas SA		577,362		4,150,238
Colbun SA		31,464,365		5,115,890
Empresa Nacional de Telecomunicaciones SA		599,763		3,798,797
Empresas CMPC SA		4,287,874		8,680,122
Empresas COPEC SA		1,467,876		9,206,127
Enel Americas SA		129,530,437		18,741,053
Enel Chile SA		105,906,317		7,890,363
Falabella SA		2,778,636		6,435,862
				106,371,873
China — 39.7%
360 Security Technology Inc., Class A		481,690		1,196,795
3SBio Inc.(a)(c)		4,812,000		5,711,573
51job Inc., ADR(a)(b)		101,439		6,541,801
58.com Inc., ADR(a)(b)		355,749		17,079,510
AAC Technologies Holdings Inc.(b)		2,721,500		13,974,416
AECC Aviation Power Co. Ltd., Class A		721,673		2,422,634
Agile Group Holdings Ltd.		4,874,000		5,011,712
Agricultural Bank of China Ltd., Class A		18,180,100		8,627,947
Agricultural Bank of China Ltd., Class H		101,944,000		41,166,910
Aier Eye Hospital Group Co. Ltd., Class A		949,286		5,188,861
Air China Ltd., Class A		1,483,493		1,339,745
Air China Ltd., Class H		7,818,000		4,680,108
Aisino Corp., Class A		1,026,474		2,285,288
AK Medical Holdings Ltd.(c)		1,362,000		4,155,761
Alibaba Group Holding Ltd., ADR(a)		6,992,023		1,450,075,650
Alibaba Health Information Technology Ltd.(a)		13,576,000		31,807,529
Alibaba Pictures Group Ltd.(a)(b)		51,270,000		6,217,753
A-Living Services Co. Ltd., Class H(c)		1,669,250		8,937,411
Aluminum Corp. of China Ltd., Class A(a)		2,921,300		1,141,738
Aluminum Corp. of China Ltd., Class H(a)(b)		18,616,000		3,434,509
Angang Steel Co. Ltd., Class A		3,846,777		1,320,883
Anhui Conch Cement Co. Ltd., Class A		984,586		7,806,103
Anhui Conch Cement Co. Ltd., Class H		4,544,000		34,031,635
Anhui Gujing Distillery Co. Ltd., Class A		116,585		2,437,086
Anhui Gujing Distillery Co. Ltd., Class B		300,600		3,362,407
Anhui Kouzi Distillery Co. Ltd., Class A		241,952		1,599,122
ANTA Sports Products Ltd.		4,060,402		36,198,397
Asymchem Laboratories Tianjin Co. Ltd., Class A		84,300		2,559,876
Autobio Diagnostics Co. Ltd., Class A		96,692		1,970,497
Autohome Inc., ADR		221,612		17,048,611
AVIC Aircraft Co. Ltd., Class A		1,019,486		2,447,609
Avic Capital Co. Ltd., Class A		4,700,889		2,486,861
AVIC Jonhon Optronic Technology Co. Ltd., Class A		467,693		2,282,910
AviChina Industry & Technology Co. Ltd., Class H		9,932,000		4,523,282
AVICOPTER PLC, Class A		305,984		1,774,179
BAIC Motor Corp. Ltd., Class H(c)		6,474,000		2,605,971
Baidu Inc., ADR(a)(b)		1,021,266		108,815,892
Bank of Beijing Co. Ltd., Class A		5,486,706		3,737,350
Bank of Chengdu Co. Ltd., Class A		2,282,100		2,538,781
Bank of China Ltd., Class A		8,746,000		4,211,733
Bank of China Ltd., Class H		293,054,000		106,998,171
Bank of Communications Co. Ltd., Class A		10,373,173		7,398,860
Bank of Communications Co. Ltd., Class H		29,836,600		18,092,120
Bank of Guiyang Co. Ltd., Class A		2,703,700		2,921,001
Bank of Hangzhou Co. Ltd., Class A		2,664,745		3,384,771
Bank of Jiangsu Co. Ltd., Class A		3,259,285		2,693,248
Bank of Nanjing Co. Ltd., Class A		2,353,546		2,595,267

1

Consolidated Schedule of Investments  (unaudited) (continued) May 31, 2020 iShares^® MSCI Emerging Markets ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
China (continued)
Bank of Ningbo Co. Ltd., Class A		1,381,881	$	4,939,836
Bank of Shanghai Co. Ltd., Class A		3,477,442		3,931,671
Baoshan Iron & Steel Co. Ltd., Class A		4,398,373		3,002,156
Baozun Inc., ADR(a)(b)		164,870		4,367,406
Beijing Capital International Airport Co. Ltd., Class H		6,890,000		4,293,472
Beijing Enlight Media Co. Ltd., Class A		1,085,695		1,765,493
Beijing Enterprises Holdings Ltd.		1,975,000		6,561,250
Beijing Enterprises Water Group Ltd.		19,742,000		7,462,787
Beijing New Building Materials PLC, Class A		638,113		2,063,744
Beijing Oriental Yuhong Waterproof Technology Co. Ltd., Class A		482,086		2,594,067
Beijing Shiji Information Technology Co. Ltd., Class A		313,130		1,297,679
Beijing Shunxin Agriculture Co. Ltd., Class A		243,500		1,862,567
Beijing Sinnet Technology Co. Ltd., Class A		559,986		1,946,296
Beijing Tiantan Biological Products Corp. Ltd., Class A		368,592		1,980,792
Beijing Tongrentang Co. Ltd., Class A		607,712		2,125,745
BEST Inc., ADR(a)(b)		740,441		3,835,484
Betta Pharmaceuticals Co. Ltd., Class A		113,996		1,672,499
BGI Genomics Co. Ltd., Class A		109,900		1,849,717
Bilibili Inc., ADR(a)		359,313		11,652,521
BOE Technology Group Co. Ltd., Class A		7,938,100		4,110,766
Bosideng International Holdings Ltd.(b)		12,488,000		3,206,182
Brilliance China Automotive Holdings Ltd.		11,548,000		10,101,334
BYD Co. Ltd., Class A		432,612		3,466,717
BYD Co. Ltd., Class H(b)		2,368,500		13,292,446
BYD Electronic International Co. Ltd.(b)		2,589,000		4,956,878
Caitong Securities Co. Ltd., Class A		1,328,965		1,843,878
CanSino Biologics Inc., Class H(a)(c)		216,600		5,069,183
Centre Testing International Group Co. Ltd., Class A		540,400		1,365,294
CGN Power Co. Ltd., Class H(c)		38,538,000		8,850,166
Changchun High & New Technology Industry Group Inc., Class A		45,597		4,238,799
Changjiang Securities Co. Ltd., Class A		2,774,674		2,420,607
Chaozhou Three-Circle Group Co. Ltd., Class A		373,705		1,037,519
China Aoyuan Group Ltd.		4,644,000		4,925,001
China Cinda Asset Management Co. Ltd., Class H		34,168,000		6,303,734
China CITIC Bank Corp. Ltd., Class A		4,672,299		3,273,909
China CITIC Bank Corp. Ltd., Class H		26,952,800		11,718,609
China Communications Construction Co. Ltd., Class H		18,006,000		11,452,662
China Communications Services Corp. Ltd., Class H		9,330,000		6,175,061
China Conch Venture Holdings Ltd.		6,175,500		27,726,410
China Construction Bank Corp., Class A		2,509,868		2,231,632
China Construction Bank Corp., Class H		357,040,760		280,528,735
China East Education Holdings Ltd.(c)		1,879,000		3,689,637
China Eastern Airlines Corp. Ltd., Class A(a)		4,463,097		2,591,564
China Eastern Airlines Corp. Ltd., Class H(a)		3,814,000		1,289,212
China Education Group Holdings Ltd.		2,409,000		4,164,701
China Everbright Bank Co. Ltd., Class A		9,295,803		4,943,610
China Everbright Bank Co. Ltd., Class H		11,716,000		4,746,257
China Everbright International Ltd.		14,315,813		7,350,914
China Everbright Ltd.		3,706,000		5,192,512
China Evergrande Group(b)		6,908,388		14,474,548
China Feihe Ltd.(a)(c)		3,105,000		5,608,309

Security	Shares		Value
China (continued)
China Fortune Land Development Co. Ltd., Class A		776,027	$	2,346,214
China Galaxy Securities Co. Ltd.		966,300		1,321,814
China Galaxy Securities Co. Ltd., Class H		13,438,500		6,449,648
China Gas Holdings Ltd.(b)		9,748,600		34,084,255
China Greatwall Technology Group Co. Ltd., Class A		829,873		1,590,430
China Hongqiao Group Ltd.		7,013,500		3,085,542
China Huarong Asset Management Co. Ltd., Class H(c)		38,449,000		3,918,812
China Huishan Dairy Holdings Co. Ltd.(a)(d)		5,603,350		7
China International Capital Corp. Ltd., Class H(a)(c)		5,044,000		8,160,464
China International Travel Service Corp. Ltd., Class A		477,132		6,741,865
China Jinmao Holdings Group Ltd.		20,168,000		13,946,649
China Jushi Co. Ltd., Class A		1,599,492		1,971,401
China Lesso Group Holdings Ltd.(b)		3,823,000		4,616,602
China Life Insurance Co. Ltd., Class A		677,099		2,419,493
China Life Insurance Co. Ltd., Class H		27,712,000		51,913,074
China Literature Ltd.(a)(c)		1,101,800		6,233,251
China Longyuan Power Group Corp. Ltd., Class H		12,358,000		6,010,793
China Medical System Holdings Ltd.		5,276,000		6,010,461
China Mengniu Dairy Co. Ltd.		10,371,000		37,063,179
China Merchants Bank Co. Ltd., Class A		4,580,389		21,622,617
China Merchants Bank Co. Ltd., Class H		14,576,967		68,267,824
China Merchants Energy Shipping Co. Ltd., Class A		1,799,557		1,487,030
China Merchants Port Holdings Co. Ltd.		5,514,000		6,708,427
China Merchants Securities Co. Ltd., Class A		1,713,984		3,971,432
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A		1,654,690		3,702,393
China Minsheng Banking Corp. Ltd., Class A		10,615,355		8,431,000
China Minsheng Banking Corp. Ltd., Class H		21,473,048		14,932,232
China Mobile Ltd.		22,855,500		159,525,552
China Molybdenum Co. Ltd., Class A		5,188,898		2,477,043
China Molybdenum Co. Ltd., Class H(b)		12,336,000		3,787,857
China National Building Material Co. Ltd., Class H		14,498,000		16,273,074
China National Chemical Engineering Co. Ltd., Class A		3,377,867		2,621,499
China National Nuclear Power Co. Ltd., Class A		4,372,800		2,459,784
China National Software & Service Co. Ltd., Class A		130,299		1,426,265
China Northern Rare Earth Group High-Tech Co. Ltd., Class A		1,385,054		1,962,298
China Oilfield Services Ltd., Class H		6,408,000		5,572,174
China Overseas Land & Investment Ltd.		14,309,960		43,570,514
China Overseas Property Holdings Ltd.		4,245,000		4,803,077
China Pacific Insurance Group Co. Ltd., Class A		1,451,148		5,728,269
China Pacific Insurance Group Co. Ltd., Class H		10,060,000		27,645,207
China Petroleum & Chemical Corp., Class A		6,157,189		3,558,075
China Petroleum & Chemical Corp., Class H		90,350,800		41,847,423
China Power International Development Ltd.		16,983,000		3,724,823
China Railway Construction Corp. Ltd., Class A		2,985,120		3,604,211
China Railway Construction Corp. Ltd., Class H		7,159,000		6,400,706
China Railway Group Ltd., Class A		5,180,600		3,796,397
China Railway Group Ltd., Class H		13,906,000		7,589,005
China Railway Signal & Communication Corp. Ltd., Class H(a)(c)		6,119,000		2,699,907
China Reinsurance Group Corp., Class H		21,095,000		2,204,483
China Resources Beer Holdings Co. Ltd.		5,500,000		29,128,500

2

Consolidated Schedule of Investments  (unaudited) (continued) May 31, 2020 iShares^® MSCI Emerging Markets ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
China (continued)
China Resources Cement Holdings Ltd.		9,410,000	$	11,812,579
China Resources Gas Group Ltd.		3,358,000		18,304,154
China Resources Land Ltd.		11,963,333		47,152,603
China Resources Pharmaceutical Group Ltd.(c)		6,116,000		3,329,831
China Resources Power Holdings Co. Ltd.		7,280,999		8,435,476
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A		383,671		1,449,705
China Shenhua Energy Co. Ltd., Class A		1,106,194		2,529,167
China Shenhua Energy Co. Ltd., Class H		12,775,500		23,339,063
China Shipbuilding Industry Co. Ltd., Class A		5,393,792		3,056,698
China Southern Airlines Co. Ltd., Class A		2,284,200		1,613,307
China Southern Airlines Co. Ltd., Class H(b)		6,276,000		2,574,852
China Spacesat Co. Ltd., Class A		296,300		1,332,155
China State Construction Engineering Corp. Ltd., Class A		8,712,471		6,080,561
China State Construction International Holdings Ltd.(b)		7,864,000		4,849,687
China Taiping Insurance Holdings Co. Ltd.		6,219,260		9,227,389
China Telecom Corp. Ltd., Class H		49,624,000		16,453,836
China Tower Corp. Ltd., Class H(c)		161,666,000		32,537,603
China Traditional Chinese Medicine Holdings Co. Ltd.		9,414,000		3,983,734
China TransInfo Technology Co. Ltd., Class A		563,900		1,744,232
China Unicom Hong Kong Ltd.		22,810,000		13,213,379
China United Network Communications Ltd., Class A		7,066,298		4,892,219
China Vanke Co. Ltd., Class A		2,235,759		8,020,296
China Vanke Co. Ltd., Class H		5,502,931		17,855,595
China Yangtze Power Co. Ltd., Class A		4,961,415		12,043,076
China Yuhua Education Corp Ltd.(c)		3,740,000		3,647,839
Chongqing Changan Automobile Co. Ltd., Class A		1,220,787		1,680,154
Chongqing Rural Commercial Bank Co. Ltd., Class H		9,542,000		3,656,269
Chongqing Zhifei Biological Products Co. Ltd., Class A		342,776		4,009,468
CIFI Holdings Group Co. Ltd.		10,928,000		7,853,046
CITIC Ltd.		21,840,000		20,738,279
CITIC Securities Co. Ltd., Class A		2,485,351		7,725,743
CITIC Securities Co. Ltd., Class H		7,465,000		13,387,111
CNOOC Ltd.		66,459,000		73,995,764
Contemporary Amperex Technology Co. Ltd., Class A		516,929		10,500,639
COSCO SHIPPING Energy Transportation Co. Ltd., Class H		5,604,000		2,769,103
COSCO SHIPPING Holdings Co. Ltd., Class A(a)		3,199,188		1,411,104
COSCO SHIPPING Holdings Co. Ltd., Class H(a)		8,455,000		2,138,021
COSCO SHIPPING Ports Ltd.		7,110,000		3,549,955
Country Garden Holdings Co. Ltd.(b)		28,622,939		35,377,081
Country Garden Services Holdings Co. Ltd.		4,940,000		23,135,337
CRRC Corp. Ltd., Class A		6,393,137		5,211,457
CRRC Corp. Ltd., Class H		15,704,300		7,334,482
CSC Financial Co. Ltd., Class A		641,897		2,865,340
CSPC Pharmaceutical Group Ltd.		17,484,000		34,241,662
Dali Foods Group Co. Ltd.(c)		8,177,000		5,190,406
Daqin Railway Co. Ltd., Class A		3,489,255		3,321,616
Dawning Information Industry Co. Ltd., Class A		381,198		1,980,429
DHC Software Co. Ltd., Class A		893,698		1,345,998
Dongfeng Motor Group Co. Ltd., Class H		10,394,000		6,517,203
Dongxing Securities Co. Ltd., Class A		241,697		353,561
East Money Information Co. Ltd., Class A		1,830,411		3,640,791

Security	Shares		Value
China (continued)
ENN Energy Holdings Ltd.(b)		2,968,100	$	34,616,984
Eve Energy Co. Ltd., Class A(a)		255,089		2,311,902
Everbright Securities Co. Ltd., Class A		1,663,749		2,538,284
Fangda Carbon New Material Co. Ltd., Class A(a)		399,596		524,302
Far East Horizon Ltd.		8,814,000		7,789,434
Fiberhome Telecommunication Technologies Co. Ltd., Class A		378,290		1,475,839
First Capital Securities Co. Ltd., Class A		1,688,500		1,609,734
Focus Media Information Technology Co. Ltd., Class A		3,618,978		2,495,429
Foshan Haitian Flavouring & Food Co. Ltd., Class A		632,818		10,149,185
Fosun International Ltd.		9,803,000		12,584,163
Founder Securities Co. Ltd., Class A		2,557,787		2,470,602
Foxconn Industrial Internet Co. Ltd., Class A		967,397		1,810,781
Fuyao Glass Industry Group Co. Ltd., Class A		938,672		2,573,284
Fuyao Glass Industry Group Co. Ltd., Class H(c)		1,615,600		3,543,440
Ganfeng Lithium Co. Ltd., Class A		287,381		1,985,617
GCL System Integration Technology Co. Ltd., Class A(a)		1,792,200		637,909
GD Power Development Co. Ltd., Class A		11,524,100		2,927,593
GDS Holdings Ltd., ADR(a)(b)		289,949		16,527,093
Geely Automobile Holdings Ltd.(b)		18,870,000		25,805,961
Gemdale Corp., Class A		1,576,430		2,805,545
Genscript Biotech Corp.(a)(b)		3,786,000		8,303,703
GF Securities Co. Ltd., Class A		1,568,994		2,886,483
GF Securities Co. Ltd., Class H		5,082,800		5,173,951
Gigadevice Semiconductor Beijing Inc., Class A		115,910		3,128,868
Glodon Co. Ltd., Class A		394,293		3,155,797
GoerTek Inc., Class A		863,900		2,561,240
GOME Retail Holdings Ltd.(a)(b)		37,180,200		4,604,953
Great Wall Motor Co. Ltd., Class H		11,754,500		7,446,084
Gree Electric Appliances Inc. of Zhuhai, Class A		653,310		5,192,411
Greenland Holdings Corp. Ltd., Class A		3,795,418		2,834,299
Greentown Service Group Co. Ltd.(b)		4,474,000		5,968,412
GSX Techedu Inc., ADR(a)		111,867		3,508,149
Guangdong Haid Group Co. Ltd., Class A		515,827		3,484,831
Guangdong Investment Ltd.		11,226,110		22,101,721
Guangzhou Automobile Group Co. Ltd., Class H		11,163,838		9,174,771
Guangzhou Baiyun International Airport Co. Ltd., Class A		696,891		1,590,431
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A		487,595		2,051,327
Guangzhou Kingmed Diagnostics Group Co. Ltd., Class A		159,384		1,559,980
Guangzhou R&F Properties Co. Ltd., Class H		4,650,800		5,742,247
Guangzhou Shiyuan Electronic Technology Co. Ltd.		146,300		1,861,373
Guosen Securities Co. Ltd., Class A		1,691,969		2,522,295
Guotai Junan Securities Co. Ltd., Class A		2,214,340		4,843,347
Guotai Junan Securities Co. Ltd., Class H(c)		2,179,200		2,862,115
Haidilao International Holding Ltd.(b)(c)		2,856,000		13,799,149
Haier Electronics Group Co. Ltd.		4,915,000		13,696,813
Haier Smart Home Co. Ltd., Class A		1,448,641		3,346,502
Haitian International Holdings Ltd.		2,612,000		5,513,136
Haitong Securities Co. Ltd., Class A		1,991,601		3,210,825
Haitong Securities Co. Ltd., Class H		10,231,200		7,735,109
Hangzhou Hikvision Digital Technology Co. Ltd., Class A		2,086,902		8,001,898
Hangzhou Robam Appliances Co. Ltd., Class A		423,264		2,010,507

3

Consolidated Schedule of Investments  (unaudited) (continued) May 31, 2020 iShares^® MSCI Emerging Markets ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
China (continued)
Hangzhou Tigermed Consulting Co. Ltd., Class A		213,300	$	2,526,242
Hansoh Pharmaceutical Group Co. Ltd.(a)(c)		1,990,000		8,639,337
Henan Shuanghui Investment & Development Co. Ltd., Class A		721,200		3,982,395
Hengan International Group Co. Ltd.		2,516,000		20,547,387
Hengli Petrochemical Co. Ltd., Class A		1,448,391		2,814,216
Hengtong Optic-Electric Co. Ltd., Class A		798,655		1,830,479
Hengyi Petrochemical Co. Ltd., Class A		1,473,049		1,881,354
Hithink RoyalFlush Information Network Co. Ltd., Class A		143,200		2,144,542
Hua Hong Semiconductor Ltd.(a)(b)(c)		1,738,000		3,233,384
Huadong Medicine Co. Ltd., Class A		581,505		1,838,459
Hualan Biological Engineering Inc., Class A		536,136		3,081,723
Huaneng Power International Inc., Class H		15,906,000		5,910,112
Huatai Securities Co. Ltd., Class A		1,689,317		4,074,621
Huatai Securities Co. Ltd., Class H(c)		5,686,200		8,906,008
Huaxia Bank Co. Ltd., Class A		3,866,180		3,437,588
Huaxin Cement Co. Ltd., Class A		450,606		1,562,988
Huayu Automotive Systems Co. Ltd., Class A		740,768		1,980,083
Huazhu Group Ltd., ADR(b)		495,841		16,769,343
Hubei Biocause Pharmaceutical Co. Ltd., Class A		2,212,699		1,510,301
Hundsun Technologies Inc., Class A		220,094		3,235,267
Hutchison China MediTech Ltd., ADR(a)(b)		248,431		5,418,280
HUYA Inc., ADR(a)(b)		233,493		3,623,811
Iflytek Co. Ltd., Class A		559,575		2,495,522
Industrial & Commercial Bank of China Ltd., Class A		13,062,135		9,335,045
Industrial & Commercial Bank of China Ltd., Class H		223,849,085		144,400,132
Industrial Bank Co. Ltd., Class A		4,571,622		10,273,738
Industrial Securities Co. Ltd., Class A		3,200,651		2,542,043
Inner Mongolia BaoTou Steel Union Co. Ltd., Class A		15,376,100		2,360,865
Inner Mongolia Yili Industrial Group Co. Ltd., Class A		1,310,699		5,204,962
Inner Mongolia Yitai Coal Co. Ltd., Class B		4,368,817		2,560,127
Innovent Biologics Inc.(a)(c)		3,462,000		18,893,382
Inspur Electronic Information Industry Co. Ltd., Class A		376,330		2,023,952
iQIYI Inc., ADR(a)(b)		811,344		13,460,197
Jafron Biomedical Co. Ltd., Class A		265,827		2,337,609
JD.com Inc., ADR(a)(b)		2,772,046		150,605,259
Jiangsu Expressway Co. Ltd., Class H		4,912,000		5,785,906
Jiangsu Hengli Hydraulic Co. Ltd., Class A		276,100		2,835,688
Jiangsu Hengrui Medicine Co. Ltd., Class A		1,269,918		13,950,273
Jiangsu King’s Luck Brewery JSC Ltd., Class A		421,413		2,156,417
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd., Class A		340,350		5,012,469
Jiangsu Zhongnan Construction Group Co. Ltd., Class A		1,354,987		1,488,477
Jiangxi Copper Co. Ltd., Class A		463,500		824,883
Jiangxi Copper Co. Ltd., Class H		5,525,000		5,060,960
Jiangxi Zhengbang Technology Co. Ltd., Class A		662,824		1,433,118
Jinke Properties Group Co. Ltd., Class A		2,036,582		2,188,895
Jonjee Hi-Tech Industrial And Commercial Holding Co. Ltd., Class A		296,325		2,274,905
JOYY Inc.(a)(b)		217,284		13,265,188
Juewei Food Co. Ltd., Class A		259,614		2,505,836
Kaisa Group Holdings Ltd.		9,535,000		3,481,364
Kingboard Holdings Ltd.		2,730,500		6,587,582

Security	Shares		Value
China (continued)
Kingdee International Software Group Co. Ltd.(b)		8,788,000	$	15,419,533
Kingsoft Corp. Ltd.(a)(b)		3,126,000		10,102,735
Koolearn Technology Holding Ltd.(a)(c)		828,000		3,348,961
Kunlun Energy Co. Ltd.		13,626,000		8,350,342
Kweichow Moutai Co. Ltd., Class A		290,987		55,506,942
KWG Group Holdings Ltd.		4,866,000		6,792,687
Lee & Man Paper Manufacturing Ltd.(b)		5,234,000		2,815,866
Legend Holdings Corp., Class H(c)		1,563,000		1,891,490
Lenovo Group Ltd.(b)		27,028,000		14,680,413
Lens Technology Co. Ltd., Class A		747,300		1,700,258
Lepu Medical Technology Beijing Co. Ltd., Class A		495,835		2,417,509
Li Ning Co. Ltd.		7,681,500		25,766,869
Lingyi iTech Guangdong Co., Class A(a)		1,450,980		1,826,839
Logan Property Holdings Co. Ltd.		5,318,000		7,917,652
Longfor Group Holdings Ltd.(c)		6,731,000		30,480,983
LONGi Green Energy Technology Co. Ltd., Class A		859,041		3,886,201
Luxshare Precision Industry Co. Ltd., Class A		1,232,448		7,655,277
Luye Pharma Group Ltd.(c)		5,682,000		2,836,968
Luzhou Laojiao Co. Ltd., Class A		361,939		4,309,399
Maanshan Iron & Steel Co. Ltd., Class A		6,682,200		2,443,729
Mango Excellent Media Co. Ltd., Class A(a)		462,800		3,423,746
Meinian Onehealth Healthcare Holdings Co. Ltd., Class A		1,087,580		1,783,739
Meituan Dianping, Class B(a)(b)		12,662,300		239,654,162
Metallurgical Corp. of China Ltd., Class A		7,670,190		2,676,569
Momo Inc., ADR		563,534		10,932,560
Muyuan Foodstuff Co. Ltd., Class A		512,050		8,590,392
NanJi E-Commerce Co. Ltd., Class A(a)		552,000		1,452,388
Nanjing King-Friend Biochemical Pharmaceutical Co. Ltd., Class A		209,690		1,829,907
Nanjing Securities Co. Ltd., Class A		787,500		1,511,421
NARI Technology Co. Ltd., Class A		1,101,583		2,846,138
NAURA Technology Group Co. Ltd., Class A		119,100		2,526,898
NavInfo Co. Ltd., Class A		693,400		1,433,413
NetEase Inc., ADR		264,596		101,313,808
New China Life Insurance Co. Ltd., Class A		661,392		4,038,958
New China Life Insurance Co. Ltd., Class H		2,841,200		8,834,076
New Hope Liuhe Co. Ltd., Class A		1,016,197		3,974,462
New Oriental Education & Technology Group Inc., ADR(a)		532,413		63,868,263
Ninestar Corp., Class A		325,700		1,250,209
Ningbo Joyson Electronic Corp., Class A(a)		314,700		865,796
Ningbo Zhoushan Port Co. Ltd., Class A		614,800		291,773
NIO Inc., ADR(a)(b)		2,827,935		11,255,181
Noah Holdings Ltd.(a)(b)		125,815		3,337,872
Offcn Education Technology Co. Ltd.		369,800		1,517,562
OFILM Group Co. Ltd., Class A(a)		753,465		1,491,323
Orient Securities Co. Ltd., Class A		1,573,886		2,014,535
Oriental Pearl Group Co. Ltd., Class A		194,300		271,210
Ovctek China Inc., Class A		252,900		1,923,878
People’s Insurance Co. Group of China Ltd. (The), Class A		1,214,400		1,052,654
People’s Insurance Co. Group of China Ltd. (The), Class H		31,780,000		9,553,271
Perfect World Co. Ltd., Class A		358,800		2,201,119
PetroChina Co. Ltd., Class A		2,952,100		1,751,267
PetroChina Co. Ltd., Class H		80,016,000		27,460,013
PICC Property & Casualty Co. Ltd., Class H		25,811,192		22,344,613
Pinduoduo Inc., ADR(a)(b)		958,257		64,078,646

4

Consolidated Schedule of Investments  (unaudited) (continued) May 31, 2020 iShares^® MSCI Emerging Markets ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
China (continued)
Ping An Bank Co. Ltd., Class A		4,381,867	$	7,951,240
Ping An Healthcare and Technology Co. Ltd.(a)(b)(c)		1,385,000		18,243,904
Ping An Insurance Group Co. of China Ltd., Class A		2,311,184		22,811,175
Ping An Insurance Group Co. of China Ltd., Class H		21,897,000		216,116,695
Poly Developments and Holdings Group Co. Ltd., Class A		2,733,784		5,479,626
Poly Property Development Co. Ltd.(a)		331,000		3,736,615
Postal Savings Bank of China Co. Ltd., Class H(c)		34,007,000		21,630,049
Power Construction Corp. of China Ltd., Class A		4,088,200		1,945,892
RiseSun Real Estate Development Co. Ltd., Class A		2,108,700		2,292,897
Rongsheng Petro Chemical Co. Ltd., Class A		1,639,372		2,656,697
SAIC Motor Corp. Ltd., Class A		1,682,906		4,209,497
Sanan Optoelectronics Co. Ltd., Class A		1,019,600		3,310,334
Sangfor Technologies Inc., Class A		87,900		2,307,004
Sany Heavy Industry Co. Ltd., Class A		2,021,152		5,171,229
SDIC Capital Co. Ltd., Class A		1,146,500		1,907,579
SDIC Power Holdings Co. Ltd., Class A		1,844,290		1,943,607
Seazen Group Ltd.		8,110,000		7,502,090
Seazen Holdings Co. Ltd., Class A		538,973		2,354,744
Semiconductor Manufacturing International Corp.(a)(b)		12,249,499		26,613,542
SF Holding Co. Ltd., Class A		481,300		3,062,122
SG Micro Corp.		34,900		1,065,580
Shaanxi Coal Industry Co. Ltd., Class A		2,210,370		2,212,159
Shandong Gold Mining Co. Ltd., Class A		661,040		3,423,213
Shandong Weigao Group Medical Polymer Co. Ltd., Class H		8,944,000		15,647,096
Shanghai Baosight Software Co. Ltd., Class A		258,830		2,044,498
Shanghai Construction Group Co. Ltd., Class A		6,151,095		2,653,036
Shanghai Electric Group Co. Ltd., Class A		362,400		220,550
Shanghai Electric Group Co. Ltd., Class H		13,536,000		3,737,200
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class A		773,900		3,321,714
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H		1,694,000		5,376,390
Shanghai Industrial Holdings Ltd.		2,353,000		3,661,099
Shanghai International Airport Co. Ltd., Class A		242,098		2,446,257
Shanghai International Port Group Co. Ltd., Class A		3,436,899		1,942,916
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class B		4,513,206		3,186,323
Shanghai M&G Stationery Inc., Class A		302,937		2,356,534
Shanghai Pharmaceuticals Holding Co. Ltd., Class A		429,500		1,067,125
Shanghai Pharmaceuticals Holding Co. Ltd., Class H		3,697,400		5,848,294
Shanghai Pudong Development Bank Co. Ltd., Class A		6,309,696		9,309,272
Shanghai RAAS Blood Products Co. Ltd., Class A(a)		1,269,800		1,455,160
Shanxi Meijin Energy Co. Ltd., Class A(a)		1,169,300		1,021,722
Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A		224,600		4,016,290
Shengyi Technology Co. Ltd., Class A		593,200		2,219,056
Shennan Circuits Co. Ltd., Class A		129,240		2,723,994
Shenwan Hongyuan Group Co. Ltd., Class A		6,973,340		4,204,912
Shenzhen Expressway Co. Ltd., Class H		1,934,000		1,956,207

Security	Shares		Value
China (continued)
Shenzhen Goodix Technology Co. Ltd., Class A		93,100	$	2,813,454
Shenzhen Inovance Technology Co. Ltd., Class A		558,900		2,678,183
Shenzhen International Holdings Ltd.		3,960,000		6,611,070
Shenzhen Investment Ltd.		11,994,000		3,698,318
Shenzhen Kangtai Biological Products Co. Ltd., Class A		174,786		3,561,983
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A		149,932		5,834,712
Shenzhen Overseas Chinese Town Co. Ltd., Class A		3,311,600		2,699,498
Shenzhen Sunway Communication Co. Ltd., Class A(a)		287,040		1,562,970
Shenzhou International Group Holdings Ltd.(b)		2,975,400		35,373,901
Shimao Property Holdings Ltd.(b)		4,430,500		18,405,638
Shui On Land Ltd.		15,294,000		2,525,651
Sichuan Chuantou Energy Co. Ltd., Class A		2,085,460		2,584,920
Sichuan Kelun Pharmaceutical Co. Ltd., Class A		526,100		1,505,409
Sichuan Swellfun Co. Ltd., Class A		172,893		1,216,057
Silergy Corp.		263,000		14,190,175
SINA Corp.(a)		236,037		7,390,318
Sino Biopharmaceutical Ltd.(b)		25,930,500		40,814,359
Sino-Ocean Group Holding Ltd.		12,371,500		2,857,049
Sinopec Engineering Group Co. Ltd., Class H		5,613,500		2,353,745
Sinopec Shanghai Petrochemical Co. Ltd., Class H		14,731,000		3,630,010
Sinopharm Group Co. Ltd., Class H		4,959,200		12,194,859
Sinotrans Ltd., Class H		251,000		51,813
Sinotruk Hong Kong Ltd.		2,634,500		6,396,760
SOHO China Ltd.(a)		7,961,000		2,680,713
Songcheng Performance Development Co. Ltd., Class A		1,041,413		2,657,244
Spring Airlines Co. Ltd., Class A		476,873		2,386,295
Sun Art Retail Group Ltd.		9,100,000		13,924,139
Sunac China Holdings Ltd.		9,414,000		39,412,244
Suning.com Co. Ltd., Class A		2,496,738		3,056,363
Sunny Optical Technology Group Co. Ltd.		2,668,500		35,254,083
Suzhou Dongshan Precision Manufacturing Co. Ltd., Class A		455,300		1,482,671
TAL Education Group, ADR(a)		1,430,753		80,780,314
TCL Technology Group Corp., Class A		4,124,955		3,005,537
Tencent Holdings Ltd.		21,338,800		1,129,846,926
Tencent Music Entertainment Group, ADR(a)(b)		1,325,005		17,119,065
Tianjin Zhonghuan Semiconductor Co. Ltd., Class A		773,593		1,895,056
Tianma Microelectronics Co. Ltd., Class A		754,579		1,427,172
Tianqi Lithium Corp., Class A		433,404		1,203,261
Tingyi Cayman Islands Holding Corp.		7,456,000		12,813,046
Tongcheng-Elong Holdings Ltd.(a)		2,834,800		5,083,695
Tonghua Dongbao Pharmaceutical Co. Ltd., Class A		745,600		1,648,517
Tongwei Co. Ltd., Class A		972,184		1,859,094
Topchoice Medical Corp., Class A(a)		124,800		2,471,542
Topsports International Holdings Ltd.(b)(c)		4,086,000		5,798,736
Transfar Zhilian Co. Ltd., Class A		1,334,698		1,060,053
TravelSky Technology Ltd., Class H		3,622,000		7,271,103
Trip.com Group Ltd., ADR(a)(b)		1,761,235		46,796,014
Tsingtao Brewery Co. Ltd., Class A		284,700		2,515,098
Tsingtao Brewery Co. Ltd., Class H		1,388,000		9,607,302
Unigroup Guoxin Microelectronics Co. Ltd., Class A		216,800		2,085,023

5

Consolidated Schedule of Investments  (unaudited) (continued) May 31, 2020 iShares^® MSCI Emerging Markets ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
China (continued)
Uni-President China Holdings Ltd.		5,105,000	$	5,282,170
Unisplendour Corp. Ltd., Class A		448,263		2,394,549
Venustech Group Inc., Class A		345,303		1,889,859
Vipshop Holdings Ltd., ADR(a)		1,644,406		28,514,000
Walvax Biotechnology Co. Ltd., Class A		436,294		2,551,676
Wanda Film Holding Co. Ltd., Class A(a)		361,752		815,485
Wanhua Chemical Group Co. Ltd., Class A		739,191		4,795,734
Want Want China Holdings Ltd.		19,135,000		13,750,735
Weibo Corp., ADR(a)(b)		207,080		6,371,852
Weichai Power Co. Ltd., Class A		1,498,444		2,727,410
Weichai Power Co. Ltd., Class H		7,289,800		12,621,483
Wens Foodstuffs Group Co. Ltd., Class A		1,202,075		4,434,667
Western Securities Co. Ltd., Class A		253,180		281,303
Wharf Holdings Ltd. (The)		3,675,000		6,552,509
Will Semiconductor Ltd., Class A		138,200		3,541,324
Wingtech Technology Co. Ltd., Class A(a)		84,200		1,149,197
Winning Health Technology Group Co. Ltd., Class A		509,865		1,658,937
Wuhan Guide Infrared Co. Ltd., Class A		238,700		1,532,648
Wuhu Sanqi Interactive Entertainment Network Technology Group Co. Ltd., Class A		532,188		2,525,668
Wuliangye Yibin Co. Ltd., Class A		920,403		19,039,631
WUS Printed Circuit Kunshan Co. Ltd., Class A		465,583		1,522,656
WuXi AppTec Co. Ltd., Class A		394,220		5,860,310
WuXi AppTec Co. Ltd., Class H(c)		768,992		8,135,382
Wuxi Biologics Cayman Inc.(a)(c)		3,366,500		52,901,522
Wuxi Lead Intelligent Equipment Co. Ltd., Class A		281,825		1,652,194
XCMG Construction Machinery Co. Ltd., Class A		3,422,369		2,804,124
Xiaomi Corp., Class B(a)(b)(c)		38,962,000		60,421,009
Xinhu Zhongbao Co. Ltd., Class A		2,412,050		1,006,676
Xinjiang Goldwind Science & Technology Co. Ltd., Class A		1,688,793		2,234,689
Xinjiang Goldwind Science & Technology Co. Ltd., Class H		1,926,846		1,735,181
Xinyi Solar Holdings Ltd.		14,892,000		10,816,922
Yantai Jereh Oilfield Services Group Co. Ltd., Class A		331,898		1,180,419
Yanzhou Coal Mining Co. Ltd., Class H		6,598,800		5,039,981
Yealink Network Technology Corp. Ltd., Class A		150,587		1,891,744
Yifeng Pharmacy Chain Co. Ltd., Class A		193,059		2,123,751
Yihai International Holding Ltd.		1,788,000		15,974,584
Yonghui Superstores Co. Ltd., Class A		2,355,000		3,063,650
Yonyou Network Technology Co. Ltd., Class A		794,779		3,871,722
Yuexiu Property Co. Ltd.		26,688,000		4,786,004
Yum China Holdings Inc.		1,335,471		61,885,726
Yunda Holding Co. Ltd., Class A		498,465		2,321,791
Yunnan Baiyao Group Co. Ltd., Class A		327,945		4,036,486
Yunnan Energy New Material Co. Ltd.		163,600		1,354,161
Yuzhou Properties Co. Ltd.		7,032,000		2,875,944
Zai Lab Ltd., ADR(a)		189,611		14,107,058
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A		159,150		3,259,329
Zhaojin Mining Industry Co. Ltd., Class H		4,199,000		5,135,663
Zhejiang Century Huatong Group Co. Ltd., Class A		803,788		1,503,414
Zhejiang Chint Electrics Co. Ltd., Class A		809,386		2,872,992
Zhejiang Dahua Technology Co. Ltd., Class A		1,080,684		2,244,574
Zhejiang Expressway Co. Ltd., Class H		5,938,000		4,175,216
Zhejiang Huayou Cobalt Co. Ltd., Class A		287,494		1,302,997
Zhejiang Longsheng Group Co. Ltd., Class A		731,100		1,242,958
Zhejiang NHU Co. Ltd., Class A		839,278		2,963,867

Security	Shares		Value
China (continued)
Zhejiang Sanhua Intelligent Controls Co. Ltd., Class A		822,398	$	2,565,617
Zhejiang Supor Co. Ltd., Class A		241,882		2,285,728
Zhejiang Wolwo Bio-Pharmaceutical Co. Ltd., Class A		173,547		1,394,587
Zhengzhou Yutong Bus Co. Ltd., Class A		1,010,667		1,706,969
Zhenro Properties Group Ltd.		5,187,000		3,299,176
ZhongAn Online P&C Insurance Co. Ltd., Class H(a)(b)(c)		1,339,500		4,726,529
Zhongji Innolight Co. Ltd., Class A		164,500		1,308,570
Zhongsheng Group Holdings Ltd.		2,148,500		11,032,164
Zhuzhou CRRC Times Electric Co. Ltd., Class H		2,106,800		5,449,792
Zijin Mining Group Co. Ltd., Class A		5,077,500		2,679,008
Zijin Mining Group Co. Ltd., Class H		21,058,000		8,422,113
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class A		1,666,568		1,481,818
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class H		5,130,000		4,202,748
ZTE Corp., Class A(a)		861,300		4,334,031
ZTE Corp., Class H(a)		2,854,000		7,216,927
ZTO Express Cayman Inc., ADR(b)		1,374,404		44,833,058
				8,070,194,007
Colombia — 0.2%
Bancolombia SA		887,761		5,977,456
Ecopetrol SA		18,655,856		9,998,816
Grupo de Inversiones Suramericana SA		1,017,668		4,988,360
Interconexion Electrica SA ESP		1,710,320		9,028,462
				29,993,094
Czech Republic — 0.1%
CEZ AS		585,982		11,513,321
Komercni Banka AS(a)		282,387		6,055,888
Moneta Money Bank AS(c)		1,896,794		4,200,981
				21,770,190
Egypt — 0.1%
Commercial International Bank Egypt SAE		5,502,594		22,000,017
Eastern Co. SAE		4,643,222		3,697,387
EISewedy Electric Co.		3,669,043		1,743,603
				27,441,007
Greece — 0.2%
Alpha Bank AE(a)		4,676,150		2,886,840
Eurobank Ergasias Services and Holdings SA, Series A(a)		4,499,245		1,901,798
FF Group(a)(d)		246,892		2,746
Hellenic Telecommunications Organization SA		876,215		12,339,162
Jumbo SA		419,090		7,607,969
Motor Oil Hellas Corinth Refineries SA		243,824		4,068,263
National Bank of Greece SA(a)		405,450		545,262
OPAP SA		699,026		6,531,514
Titan Cement International SA		105,373		1,324,491
				37,208,045
Hong Kong — 0.1%
Kingboard Laminates Holdings Ltd.		4,248,500		3,699,829
Nine Dragons Paper Holdings Ltd.(b)		6,252,000		5,468,786
SSY Group Ltd.		6,008,000		3,681,848
Vinda International Holdings Ltd.		1,121,000		3,405,954
				16,256,417
Hungary — 0.3%
MOL Hungarian Oil & Gas PLC		1,565,758		9,906,713

6

Consolidated Schedule of Investments  (unaudited) (continued) May 31, 2020 iShares^® MSCI Emerging Markets ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
Hungary (continued)
OTP Bank Nyrt(a)		837,306	$	27,886,992
Richter Gedeon Nyrt		551,369		12,059,469
				49,853,174
India — 8.0%
Adani Ports & Special Economic Zone Ltd.		1,994,786		8,541,970
Ambuja Cements Ltd.		2,334,130		5,912,785
Asian Paints Ltd.		1,081,621		24,075,199
Aurobindo Pharma Ltd.		1,053,782		10,391,319
Avenue Supermarts Ltd.(a)(c)		557,213		16,722,746
Axis Bank Ltd.		7,802,778		39,722,671
Bajaj Auto Ltd.		315,830		11,321,075
Bajaj Finance Ltd.		674,317		17,421,909
Bajaj Finserv Ltd.		144,318		8,407,007
Bandhan Bank Ltd.(c)		1,504,411		4,340,168
Berger Paints India Ltd.		825,479		5,368,281
Bharat Forge Ltd.		817,167		3,523,545
Bharat Petroleum Corp. Ltd.		2,452,814		11,119,629
Bharti Airtel Ltd.(a)		9,160,574		66,945,044
Bharti Infratel Ltd.		1,258,396		3,826,799
Biocon Ltd.		952,858		4,469,657
Bosch Ltd.		29,127		3,744,538
Britannia Industries Ltd.		220,305		9,844,148
Cipla Ltd.		1,297,682		11,123,172
Coal India Ltd.		4,672,535		8,731,314
Colgate-Palmolive India Ltd.		230,703		4,245,426
Container Corp. of India Ltd.		814,156		4,049,448
Dabur India Ltd.		2,020,248		12,462,198
Divi’s Laboratories Ltd.		306,894		9,700,393
DLF Ltd.		2,196,603		4,376,285
Dr. Reddy’s Laboratories Ltd.		429,401		23,119,354
Eicher Motors Ltd.		50,243		10,995,570
GAIL India Ltd.		6,017,684		7,349,387
Godrej Consumer Products Ltd.		1,456,943		12,211,799
Grasim Industries Ltd.		1,136,938		8,858,993
Havells India Ltd.		962,783		6,318,497
HCL Technologies Ltd.		4,081,331		29,699,336
HDFC Asset Management Co. Ltd.(c)		155,070		5,176,912
HDFC Life Insurance Co. Ltd.(a)(c)		2,503,742		17,323,761
Hero MotoCorp Ltd.		368,582		11,507,669
Hindalco Industries Ltd.		4,437,212		8,147,811
Hindustan Petroleum Corp. Ltd.		2,298,838		5,914,588
Hindustan Unilever Ltd.		3,067,190		83,451,419
Housing Development Finance Corp. Ltd.		6,126,677		134,409,528
ICICI Bank Ltd.		17,911,224		78,629,009
ICICI Lombard General Insurance Co. Ltd.(c)		717,854		12,348,043
ICICI Prudential Life Insurance Co. Ltd.(c)		1,207,432		6,276,978
Indian Oil Corp. Ltd.		7,072,374		7,781,681
Indraprastha Gas Ltd.		684,879		4,275,951
Info Edge India Ltd.		222,577		7,899,785
Infosys Ltd.		12,713,081		116,175,279
InterGlobe Aviation Ltd.(c)		356,437		4,551,137
ITC Ltd.		12,883,372		33,624,168
JSW Steel Ltd.		3,223,068		7,851,343
Jubilant Foodworks Ltd.		240,415		5,267,009
Larsen & Toubro Ltd.		1,773,569		21,865,799
LIC Housing Finance Ltd.		1,104,064		3,497,641
Lupin Ltd.		836,052		9,616,954
Mahindra & Mahindra Ltd.		2,808,696		16,207,819
Marico Ltd.		1,729,381		7,862,876
Maruti Suzuki India Ltd.		434,800		32,262,587

Security	Shares		Value
India (continued)
Motherson Sumi Systems Ltd.		3,567,572	$	4,496,251
Nestle India Ltd.		87,488		20,294,705
NTPC Ltd.		9,005,029		11,652,814
Oil & Natural Gas Corp. Ltd.		9,329,947		10,265,672
Page Industries Ltd.		21,464		5,355,309
Petronet LNG Ltd.		2,389,855		7,981,854
Pidilite Industries Ltd.		476,540		9,253,981
Piramal Enterprises Ltd.		352,992		4,517,420
Power Grid Corp. of India Ltd.		6,937,743		14,455,113
REC Ltd.		2,636,678		3,087,667
Reliance Industries Ltd.		10,625,812		205,781,682
SBI Life Insurance Co. Ltd.(c)		1,409,505		14,327,820
Shree Cement Ltd.		33,001		9,102,696
Shriram Transport Finance Co. Ltd.		327,219		2,476,550
Siemens Ltd.		249,862		3,599,090
State Bank of India(a)		6,671,377		14,230,977
Sun Pharmaceutical Industries Ltd.		3,142,750		19,710,700
Tata Consultancy Services Ltd.		3,359,370		87,624,729
Tata Consumer Products Ltd.		1,440,498		6,989,486
Tata Motors Ltd.(a)		6,260,442		7,202,929
Tata Steel Ltd.		1,295,446		5,057,321
Tech Mahindra Ltd.		1,745,085		12,241,818
Titan Co. Ltd.		1,176,940		13,852,533
Torrent Pharmaceuticals Ltd.		176,406		5,511,619
UltraTech Cement Ltd.		402,495		20,784,985
United Spirits Ltd.(a)		1,110,443		8,724,503
UPL Ltd.		1,895,294		10,172,484
Vedanta Ltd.		6,926,936		8,446,114
Wipro Ltd.		4,326,533		12,175,772
Zee Entertainment Enterprises Ltd.		3,243,172		7,872,438
				1,618,112,441
Indonesia — 1.5%
Ace Hardware Indonesia Tbk PT		15,298,200		1,628,248
Adaro Energy Tbk PT		55,061,100		4,145,600
Astra International Tbk PT		74,943,800		24,468,304
Bank Central Asia Tbk PT		36,766,900		65,304,658
Bank Mandiri Persero Tbk PT		69,433,900		21,243,637
Bank Negara Indonesia Persero Tbk PT		27,671,676		7,254,108
Bank Rakyat Indonesia Persero Tbk PT		206,477,610		41,691,235
Bank Tabungan Negara Persero Tbk PT		341,400		17,759
Barito Pacific Tbk PT(a)		100,393,000		9,276,561
Bumi Serpong Damai Tbk PT(a)		2,780,400		120,846
Charoen Pokphand Indonesia Tbk PT		27,843,845		11,006,037
Gudang Garam Tbk PT		1,823,600		6,084,908
Hanjaya Mandala Sampoerna Tbk PT		34,817,700		4,623,295
Indah Kiat Pulp & Paper Corp. Tbk PT		10,485,500		3,767,890
Indocement Tunggal Prakarsa Tbk PT		6,510,500		5,391,995
Indofood CBP Sukses Makmur Tbk PT		8,932,400		4,982,824
Indofood Sukses Makmur Tbk PT		16,763,100		6,597,387
Jasa Marga Persero Tbk PT		1,222,600		297,073
Kalbe Farma Tbk PT		80,503,315		7,796,865
Pabrik Kertas Tjiwi Kimia Tbk PT		827,700		224,912
Pakuwon Jati Tbk PT		700,900		17,367
Perusahaan Gas Negara Tbk PT		40,368,300		2,376,231
Semen Indonesia Persero Tbk PT		11,125,100		7,462,422
Telekomunikasi Indonesia Persero Tbk PT		183,850,800		39,639,289
Unilever Indonesia Tbk PT		28,527,200		15,132,498
United Tractors Tbk PT		6,399,753		6,877,216
XL Axiata Tbk PT(a)		12,187,500		2,160,549
				299,589,714

7

Consolidated Schedule of Investments  (unaudited) (continued) May 31, 2020 iShares^® MSCI Emerging Markets ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
Malaysia — 1.8%
AirAsia Group Bhd		1,515,600	$	240,544
AMMB Holdings Bhd		6,624,575		4,830,340
Axiata Group Bhd		10,524,400		9,199,016
Carlsberg Brewery Malaysia Bhd		288,300		1,915,148
CIMB Group Holdings Bhd		20,474,900		17,755,117
Dialog Group Bhd		14,232,412		13,062,064
DiGi.Com Bhd		11,878,000		12,431,259
Fraser & Neave Holdings Bhd		528,600		3,956,445
Gamuda Bhd		6,629,700		5,947,287
Genting Bhd		8,291,300		7,628,568
Genting Malaysia Bhd		11,369,800		6,067,380
Genting Plantations Bhd		1,169,700		2,717,417
HAP Seng Consolidated Bhd		2,380,400		4,101,023
Hartalega Holdings Bhd		6,084,100		17,549,077
Hong Leong Bank Bhd		2,558,400		8,003,275
Hong Leong Financial Group Bhd		919,600		2,834,420
IHH Healthcare Bhd		8,472,200		10,581,724
IJM Corp. Bhd		10,795,940		4,767,845
IOI Corp. Bhd		7,688,320		8,046,430
Kuala Lumpur Kepong Bhd		1,684,000		8,537,173
Malayan Banking Bhd		14,751,100		25,447,556
Malaysia Airports Holdings Bhd		4,021,600		4,625,187
Maxis Bhd(b)		8,975,200		10,900,300
MISC Bhd		4,755,200		9,078,358
Nestle Malaysia Bhd		269,500		8,616,561
Petronas Chemicals Group Bhd		9,212,200		13,349,479
Petronas Dagangan Bhd		993,900		5,367,860
Petronas Gas Bhd		2,707,400		11,832,225
PPB Group Bhd		2,362,860		9,435,135
Press Metal Aluminium Holdings Bhd		5,601,600		4,857,512
Public Bank Bhd		11,183,030		37,709,769
QL Resources Bhd		2,285,600		5,320,362
RHB Bank Bhd		5,998,225		6,581,146
Sime Darby Bhd		10,428,273		5,013,247
Sime Darby Plantation Bhd		8,200,673		9,356,030
Telekom Malaysia Bhd(b)		4,295,900		4,179,795
Tenaga Nasional Bhd		9,342,550		24,197,151
Top Glove Corp. Bhd		5,763,500		17,631,869
Westports Holdings Bhd		3,637,400		3,338,292
YTL Corp. Bhd		11,706,689		2,800,450
				369,809,836
Mexico — 1.8%
Alfa SAB de CV, Class A		11,156,700		5,918,714
America Movil SAB de CV, Series L, NVS		125,416,500		83,933,093
Arca Continental SAB de CV		1,623,536		7,256,474
Becle SAB de CV		1,277,700		2,217,091
Cemex SAB de CV, CPO, NVS		56,636,173		13,436,207
Coca-Cola Femsa SAB de CV		1,978,293		8,652,560
Fibra Uno Administracion SA de CV		11,786,300		9,006,262
Fomento Economico Mexicano SAB de CV		7,256,600		49,173,612
Gruma SAB de CV, Series B		789,090		7,847,487
Grupo Aeroportuario del Pacifico SAB de CV, Series B		1,380,800		9,134,098
Grupo Aeroportuario del Sureste SAB de CV, Class B		780,940		8,065,335
Grupo Bimbo SAB de CV, Series A(b)		6,093,000		9,545,716

Security	Shares		Value
Mexico (continued)
Grupo Carso SAB de CV, Series A1		1,822,141	$	4,116,125
Grupo Financiero Banorte SAB de CV, Class O		9,662,856		29,364,411
Grupo Financiero Inbursa SAB de CV, Class O(b)		8,946,500		6,144,977
Grupo Mexico SAB de CV, Series B		11,821,788		25,363,978
Grupo Televisa SAB, CPO(a)		9,128,800		10,836,705
Industrias Penoles SAB de CV		531,273		5,062,395
Infraestructura Energetica Nova SAB de CV		2,016,500		5,735,199
Kimberly-Clark de Mexico SAB de CV, Class A		5,686,000		8,843,847
Megacable Holdings SAB de CV, CPO		1,172,660		3,554,053
Orbia Advance Corp. SAB de CV		3,920,134		5,764,239
Promotora y Operadora de Infraestructura SAB de CV(a)		872,335		6,591,269
Wal-Mart de Mexico SAB de CV		19,429,700		48,596,748
				374,160,595
Pakistan — 0.0%
Habib Bank Ltd.		2,372,500		1,405,191
MCB Bank Ltd.		1,650,100		1,487,601
Oil & Gas Development Co. Ltd.		2,730,100		1,923,871
				4,816,663
Peru — 0.3%
Cia. de Minas Buenaventura SAA, ADR		827,793		6,498,175
Credicorp Ltd.		251,972		34,726,781
Southern Copper Corp.(b)		311,596		11,310,935
				52,535,891
Philippines — 0.8%
Aboitiz Equity Ventures Inc.		7,658,810		6,490,773
Aboitiz Power Corp.		5,344,564		2,935,181
Altus San Nicolas Corp.		195,768		20,087
Ayala Corp.		1,066,946		15,755,475
Ayala Land Inc.		28,312,500		17,898,064
Bank of the Philippine Islands		3,515,544		4,604,515
BDO Unibank Inc.		7,507,991		14,891,393
Globe Telecom Inc.		126,665		5,740,212
GT Capital Holdings Inc.		377,052		2,882,638
International Container Terminal Services Inc.		3,714,310		6,435,104
JG Summit Holdings Inc.		11,095,504		10,696,574
Jollibee Foods Corp.		1,687,869		3,624,484
Manila Electric Co.		817,620		4,571,048
Megaworld Corp.		43,502,900		2,449,294
Metro Pacific Investments Corp.		54,755,500		3,126,104
Metropolitan Bank & Trust Co.		6,475,865		4,503,170
PLDT Inc.		326,818		8,231,785
Puregold Price Club Inc.		2,375,700		2,158,874
Robinsons Land Corp.		8,108,306		2,367,459
SM Investments Corp.		940,777		17,005,353
SM Prime Holdings Inc.		38,420,225		22,883,639
Universal Robina Corp.		3,415,820		8,839,834
				168,111,060
Poland — 0.7%
Bank Millennium SA(a)		212,862		132,155
Bank Polska Kasa Opieki SA		658,829		8,647,933
CD Projekt SA		251,585		25,370,866
Cyfrowy Polsat SA		981,558		6,402,851
Dino Polska SA(a)(c)		184,592		8,417,786
Grupa Lotos SA		348,302		5,179,037
KGHM Polska Miedz SA(a)		520,331		11,211,767
LPP SA		4,943		8,468,353
mBank SA(a)		56,733		3,051,868
Orange Polska SA(a)		2,487,302		4,050,050

8

Consolidated Schedule of Investments  (unaudited) (continued) May 31, 2020 iShares^® MSCI Emerging Markets ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
Poland (continued)
PGE Polska Grupa Energetyczna SA(a)		3,135,638	$	3,787,010
Polski Koncern Naftowy ORLEN SA		1,113,150		18,558,987
Polskie Gornictwo Naftowe i Gazownictwo SA		6,476,147		6,799,291
Powszechna Kasa Oszczednosci Bank Polski SA		3,237,847		18,032,063
Powszechny Zaklad Ubezpieczen SA		2,231,612		16,630,364
Santander Bank Polska SA(a)		133,306		5,419,863
				150,160,244
Qatar — 0.9%
Barwa Real Estate Co.		5,178,848		4,101,442
Commercial Bank PSQC (The)		7,686,082		7,755,768
Industries Qatar QSC		6,858,425		14,740,238
Masraf Al Rayan QSC		14,134,146		15,130,770
Mesaieed Petrochemical Holding Co.		16,567,169		9,066,745
Ooredoo QPSC		3,138,928		5,399,559
Qatar Electricity & Water Co. QSC		2,074,916		8,454,243
Qatar Fuel QSC		1,917,205		8,377,104
Qatar International Islamic Bank QSC		1,931,280		4,092,723
Qatar Islamic Bank SAQ		4,444,270		18,690,742
Qatar National Bank QPSC		16,695,229		80,608,348
				176,417,682
Russia — 3.4%
Alrosa PJSC		9,588,990		8,958,977
Gazprom PJSC		40,908,530		115,791,560
Gazprom PJSC, ADR		1,401,885		7,786,069
Inter RAO UES PJSC		136,532,000		9,555,525
LUKOIL PJSC		1,551,130		115,114,031
Magnit PJSC, GDR(e)		1,375,275		15,678,135
Magnitogorsk Iron & Steel Works PJSC		8,565,600		4,903,549
MMC Norilsk Nickel PJSC		236,425		73,998,645
Mobile TeleSystems PJSC, ADR		1,710,400		15,205,456
Moscow Exchange MICEX-RTS PJSC		5,075,060		8,210,905
Novatek PJSC, GDR(e)		341,847		49,465,261
Novolipetsk Steel PJSC		4,497,820		8,771,358
PhosAgro PJSC, GDR(e)		478,664		6,605,563
Polymetal International PLC		840,165		16,811,328
Polyus PJSC		118,615		19,600,345
Rosneft Oil Co. PJSC		4,259,277		22,682,781
Rosneft Oil Co. PJSC, GDR(e)		43,844		228,164
Sberbank of Russia PJSC		40,042,941		113,653,279
Severstal PAO		780,002		10,319,606
Surgutneftegas PJSC		21,270,060		11,926,560
Surgutneftegas PJSC, ADR		583,078		3,241,914
Tatneft PJSC		5,367,957		40,426,141
VTB Bank PJSC		12,032,231,998		6,184,635
X5 Retail Group NV, GDR(e)		467,266		13,817,970
				698,937,757
Saudi Arabia — 2.8%
Abdullah Al Othaim Markets Co.		119,099		3,707,285
Advanced Petrochemical Co.		328,884		4,335,692
Al Rajhi Bank		4,587,308		70,148,125
Alinma Bank(a)		4,001,503		15,983,469
Almarai Co. JSC		944,775		12,609,250
Arab National Bank		2,057,266		11,061,123
Bank AlBilad		1,348,655		7,970,444
Bank Al-Jazira		1,758,391		5,368,218
Banque Saudi Fransi		2,132,547		17,262,649
Bupa Arabia for Cooperative Insurance Co.		166,701		5,125,527
Co for Cooperative Insurance (The)(a)		214,286		4,081,443
Dar Al Arkan Real Estate Development Co.(a)		2,202,854		4,099,809

Security	Shares		Value
Saudi Arabia (continued)
Emaar Economic City(a)		1,367,880	$	2,579,307
Etihad Etisalat Co.(a)		1,563,332		11,017,241
Jarir Marketing Co.		209,041		7,724,193
National Commercial Bank		5,256,747		53,494,672
National Industrialization Co.(a)		1,297,306		3,473,437
Rabigh Refining & Petrochemical Co.(a)		843,229		3,097,428
Riyad Bank		4,823,039		21,522,191
Sahara International Petrochemical Co.		1,304,869		5,112,711
Samba Financial Group		3,852,450		24,696,428
Saudi Airlines Catering Co.		122,694		2,537,224
Saudi Arabian Fertilizer Co.		688,392		14,141,798
Saudi Arabian Mining Co.(a)		1,638,698		14,959,370
Saudi Arabian Oil Co.(c)		4,302,508		38,632,915
Saudi Basic Industries Corp.		3,272,993		73,917,117
Saudi British Bank (The)		2,566,570		15,992,282
Saudi Cement Co.		261,118		3,268,259
Saudi Electricity Co.		3,206,621		14,745,387
Saudi Industrial Investment Group		768,204		4,075,989
Saudi Kayan Petrochemical Co.(a)		3,125,201		7,057,939
Saudi Telecom Co.		2,171,883		59,096,026
Savola Group (The)		976,307		10,891,611
Yanbu National Petrochemical Co.		907,683		12,324,139
				566,110,698
Singapore — 0.0%
BOC Aviation Ltd.(c)		785,700		4,318,258
South Africa — 3.6%
Absa Group Ltd.		2,658,495		12,244,805
Anglo American Platinum Ltd.		203,323		12,801,178
AngloGold Ashanti Ltd.		1,559,806		37,558,504
Aspen Pharmacare Holdings Ltd.(a)		1,462,219		11,585,283
Bid Corp. Ltd.		1,266,117		17,688,795
Bidvest Group Ltd. (The)		1,068,959		9,207,375
Capitec Bank Holdings Ltd.(b)		174,711		8,381,708
Clicks Group Ltd.		959,680		12,670,530
Discovery Ltd.		1,507,149		8,399,409
Exxaro Resources Ltd.		962,255		6,764,359
FirstRand Ltd.		12,414,368		28,258,804
Gold Fields Ltd.		3,224,063		25,072,693
Growthpoint Properties Ltd.		10,563,191		7,477,729
Impala Platinum Holdings Ltd.		3,012,545		20,006,737
Investec Ltd.		117,600		202,854
Kumba Iron Ore Ltd.		240,842		6,479,831
Life Healthcare Group Holdings Ltd.		5,343,461		5,549,719
Momentum Metropolitan Holdings		3,587,781		3,508,514
Mr. Price Group Ltd.		972,547		7,171,565
MTN Group Ltd.		6,308,129		19,286,319
MultiChoice Group Ltd.(a)		1,672,139		8,205,380
Naspers Ltd., Class N		1,665,559		263,425,594
Nedbank Group Ltd.		1,383,134		7,749,850
NEPI Rockcastle PLC		1,489,555		7,562,051
Northam Platinum Ltd.(a)		1,315,923		8,182,392
Old Mutual Ltd.		17,818,628		11,350,475
Pepkor Holdings Ltd.(c)		2,278,200		1,550,719
Pick n Pay Stores Ltd.		1,324,486		4,003,622
PSG Group Ltd.		592,592		5,461,211
Rand Merchant Investment Holdings Ltd.		3,035,945		4,678,898
Redefine Properties Ltd.		2,104,379		229,184
Reinet Investments SCA		571,870		8,920,517
Remgro Ltd.		1,954,502		15,405,859

9

Consolidated Schedule of Investments  (unaudited) (continued) May 31, 2020 iShares^® MSCI Emerging Markets ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
South Africa (continued)
RMB Holdings Ltd.		3,020,582	$	9,073,997
Sanlam Ltd.		7,022,451		22,533,824
Sasol Ltd.(a)		2,093,287		10,745,765
Shoprite Holdings Ltd.		1,828,006		10,728,823
Sibanye Stillwater Ltd.(a)		8,607,296		15,804,088
SPAR Group Ltd. (The)		723,087		7,185,548
Standard Bank Group Ltd.		4,768,862		27,485,979
Tiger Brands Ltd.		603,636		5,376,039
Vodacom Group Ltd.		2,385,030		17,077,191
Woolworths Holdings Ltd.		3,735,911		6,128,509
				739,182,226
South Korea — 10.8%
Amorepacific Corp.(b)		118,865		15,644,552
AMOREPACIFIC Group		109,775		5,123,336
BGF retail Co. Ltd.		30,489		4,111,319
BNK Financial Group Inc.		1,045,046		4,286,676
Celltrion Healthcare Co. Ltd.(a)(b)		248,914		18,249,741
Celltrion Inc.(a)(b)		351,400		60,578,869
Celltrion Pharm Inc.(a)		45,147		3,342,872
Cheil Worldwide Inc.		269,931		3,618,115
CJ CheilJedang Corp.		30,968		7,426,619
CJ Corp.		55,305		4,103,944
CJ ENM Co. Ltd.		41,405		4,045,383
CJ Logistics Corp.(a)		34,444		4,477,762
Coway Co. Ltd.		182,906		9,836,117
Daelim Industrial Co. Ltd.		103,151		7,687,704
Daewoo Engineering & Construction Co. Ltd.(a)		698,383		2,159,802
Daewoo Shipbuilding & Marine Engineering Co. Ltd.(a)		143,149		2,519,802
DB Insurance Co. Ltd.		187,720		6,578,423
Doosan Bobcat Inc.		189,299		3,622,582
Douzone Bizon Co. Ltd.		66,165		6,411,078
E-MART Inc.		74,125		6,793,320
Fila Holdings Corp.		185,407		5,756,308
GS Engineering & Construction Corp.		221,569		5,107,832
GS Holdings Corp.		191,832		5,839,611
GS Retail Co. Ltd.		100,798		3,467,233
Hana Financial Group Inc.		1,106,093		26,570,525
Hankook Tire & Technology Co. Ltd.		276,411		5,233,831
Hanmi Pharm Co. Ltd.		24,679		4,722,777
Hanon Systems		696,797		5,480,078
Hanwha Corp.		148,084		2,403,398
Hanwha Life Insurance Co. Ltd.		563,819		694,274
Hanwha Solutions Corp.		393,174		5,127,183
HDC Holdings Co. Ltd.		1		8
HDC Hyundai Development Co-Engineering & Construction, Class E		13,720		221,013
Helixmith Co. Ltd.(a)(b)		91,423		4,621,163
HLB Inc.(a)(b)		146,866		13,388,648
Hotel Shilla Co. Ltd.		116,963		7,479,890
Hyundai Department Store Co. Ltd.		54,627		2,822,987
Hyundai Engineering & Construction Co. Ltd.		289,773		8,002,129
Hyundai Glovis Co. Ltd.		70,651		6,446,415
Hyundai Heavy Industries Holdings Co. Ltd.		36,387		7,947,582
Hyundai Marine & Fire Insurance Co. Ltd.		234,940		4,600,343
Hyundai Mobis Co. Ltd.		247,754		39,610,232
Hyundai Motor Co.		547,303		43,308,728
Hyundai Steel Co.		311,158		5,489,767
Industrial Bank of Korea		920,997		6,157,580
Kakao Corp.		207,150		44,074,468

Security	Shares		Value
South Korea (continued)
Kangwon Land Inc.		423,219	$	8,269,934
KB Financial Group Inc.		1,461,723		40,129,664
KCC Corp.		8,771		1,016,301
Kia Motors Corp.		972,080		26,883,395
KMW Co. Ltd.(a)(b)		98,695		4,646,064
Korea Aerospace Industries Ltd.		278,420		5,699,016
Korea Electric Power Corp.(a)		951,556		16,596,237
Korea Gas Corp.		101,678		2,450,715
Korea Investment Holdings Co. Ltd.		157,061		6,683,447
Korea Shipbuilding & Offshore Engineering Co. Ltd.(a)		144,195		10,572,010
Korea Zinc Co. Ltd.		32,150		9,812,831
Korean Air Lines Co. Ltd.(a)		174,675		2,919,595
KT&G Corp.		435,493		29,502,897
Kumho Petrochemical Co. Ltd.		69,059		3,953,557
LG Chem Ltd.		169,803		53,541,178
LG Corp.		353,900		18,031,483
LG Display Co. Ltd.(a)(b)		870,313		7,167,986
LG Electronics Inc.		390,659		18,705,704
LG Household & Health Care Ltd.		34,662		38,343,849
LG Innotek Co. Ltd.		53,534		6,375,926
LG Uplus Corp.		705,289		7,488,837
Lotte Chemical Corp.(b)		63,762		9,679,241
Lotte Corp.		97,683		2,705,420
Lotte Shopping Co. Ltd.		41,704		2,997,017
Medy-Tox Inc.		6,012		820,403
Meritz Securities Co. Ltd.(b)		1,009,815		2,678,544
Mirae Asset Daewoo Co. Ltd.		1,322,371		6,588,097
NAVER Corp.		459,894		83,924,296
NCSoft Corp.		61,531		39,250,264
Netmarble Corp.(a)(b)(c)		82,413		6,142,129
NH Investment & Securities Co. Ltd.		466,761		3,667,152
OCI Co. Ltd.(a)		26,724		850,196
Orion Corp.		90,785		9,676,305
Ottogi Corp.		5,237		2,329,999
Pan Ocean Co. Ltd.(a)		1,041,037		3,005,133
Pearl Abyss Corp.(a)(b)		23,593		3,895,812
POSCO		275,456		40,258,013
POSCO Chemical Co. Ltd.		82,403		3,692,815
Posco International Corp.		183,568		2,371,584
S-1 Corp.		66,694		5,019,081
Samsung Biologics Co. Ltd.(a)(c)		61,692		30,984,234
Samsung C&T Corp.		315,535		25,248,915
Samsung Card Co. Ltd.		112,200		2,677,145
Samsung Electro-Mechanics Co. Ltd.(b)		208,396		21,033,954
Samsung Electronics Co. Ltd.		17,756,258		726,910,477
Samsung Engineering Co. Ltd.(a)		589,370		5,758,308
Samsung Fire & Marine Insurance Co. Ltd.		115,413		17,007,447
Samsung Heavy Industries Co. Ltd.(a)(b)		1,704,620		6,627,434
Samsung Life Insurance Co. Ltd.		261,444		9,647,536
Samsung SDI Co. Ltd.		204,982		59,419,870
Samsung SDS Co. Ltd.		130,644		20,095,831
Samsung Securities Co. Ltd.		232,514		5,247,500
Shinhan Financial Group Co. Ltd.		1,694,658		41,256,360
Shinsegae Inc.		27,714		5,482,603
SK Holdings Co. Ltd.		130,121		25,111,162
SK Hynix Inc.		2,031,161		133,666,778
SK Innovation Co. Ltd.		205,617		19,674,282
SK Telecom Co. Ltd.		73,099		12,749,311
S-Oil Corp.		168,270		9,606,112

10

Consolidated Schedule of Investments  (unaudited) (continued) May 31, 2020 iShares^® MSCI Emerging Markets ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
South Korea (continued)
Woori Financial Group Inc.		2,019,981	$	14,891,539
Yuhan Corp.		179,671		7,529,513
				2,194,160,457
Taiwan — 11.9%
Accton Technology Corp.		1,905,000		15,322,481
Acer Inc.(b)		11,050,121		6,017,302
Advantech Co. Ltd.		1,325,126		13,107,824
Airtac International Group		477,000		8,181,682
ASE Technology Holding Co. Ltd.		12,366,110		25,452,976
Asia Cement Corp.		8,135,077		11,799,587
Asustek Computer Inc.		2,605,968		18,269,984
AU Optronics Corp.(b)		32,279,000		8,149,036
Catcher Technology Co. Ltd.(b)		2,518,210		18,283,756
Cathay Financial Holding Co. Ltd.		29,365,710		39,170,581
Chailease Holding Co. Ltd.		4,394,991		17,053,004
Chang Hwa Commercial Bank Ltd.		20,363,244		12,750,341
Cheng Shin Rubber Industry Co. Ltd.		7,146,128		7,806,594
Chicony Electronics Co. Ltd.		2,261,998		6,478,995
China Airlines Ltd.		10,182,347		2,780,857
China Development Financial Holding Corp.		48,086,848		14,558,183
China Life Insurance Co. Ltd.(a)		10,134,490		7,003,852
China Steel Corp.		44,013,313		29,024,599
Chunghwa Telecom Co. Ltd.		13,904,410		51,171,934
Compal Electronics Inc.		14,957,908		9,515,272
CTBC Financial Holding Co. Ltd.		65,525,772		43,538,356
Delta Electronics Inc.		7,264,000		33,386,578
E.Sun Financial Holding Co. Ltd.		38,987,170		34,604,765
Eclat Textile Co. Ltd.(b)		725,427		7,465,677
Eva Airways Corp.		8,708,109		3,190,315
Evergreen Marine Corp. Taiwan Ltd.(a)		9,195,810		3,338,362
Far Eastern New Century Corp.(b)		11,048,038		9,898,159
Far EasTone Telecommunications Co. Ltd.		5,876,000		12,662,022
Feng TAY Enterprise Co. Ltd.(b)		1,243,281		7,494,883
First Financial Holding Co. Ltd.		36,922,026		28,098,861
Formosa Chemicals & Fibre Corp.(b)		13,174,090		31,591,490
Formosa Petrochemical Corp.(b)		4,383,000		12,802,301
Formosa Plastics Corp.(b)		14,508,280		40,106,153
Formosa Taffeta Co. Ltd.		3,422,000		3,897,832
Foxconn Technology Co. Ltd.		3,561,637		6,393,746
Fubon Financial Holding Co. Ltd.		24,216,969		34,198,151
Giant Manufacturing Co. Ltd.		1,122,203		8,783,271
Globalwafers Co. Ltd.(b)		814,000		9,800,533
Highwealth Construction Corp.(b)		3,044,170		4,496,551
Hiwin Technologies Corp.(b)		887,649		9,061,263
Hon Hai Precision Industry Co. Ltd.		46,396,873		117,131,823
Hotai Motor Co. Ltd.		1,139,000		20,333,189
Hua Nan Financial Holdings Co. Ltd.		29,748,615		19,270,960
Innolux Corp.(b)		30,946,002		6,410,795
Inventec Corp.		9,266,281		7,530,300
Largan Precision Co. Ltd.		375,000		47,897,585
Lite-On Technology Corp.		7,885,246		12,632,151
MediaTek Inc.		5,622,338		86,699,167
Mega Financial Holding Co. Ltd.		39,965,162		40,930,183
Micro-Star International Co. Ltd.(b)		2,531,000		8,513,938
Nan Ya Plastics Corp.		19,463,160		40,773,781
Nanya Technology Corp.(b)		4,604,000		9,169,665
Nien Made Enterprise Co. Ltd.		623,000		5,332,590
Novatek Microelectronics Corp.(b)		2,161,000		14,754,538
Pegatron Corp.(b)		7,265,414		15,607,634
Phison Electronics Corp.(b)		565,535		5,179,754

Security	Shares		Value
Taiwan (continued)
Pou Chen Corp.		8,683,220	$	8,545,850
Powertech Technology Inc.		2,754,300		8,898,155
President Chain Store Corp.		2,134,000		21,002,398
Quanta Computer Inc.		10,178,000		23,728,893
Realtek Semiconductor Corp.(b)		1,807,637		15,562,836
Ruentex Development Co. Ltd.		2,251,458		3,426,865
Ruentex Industries Ltd.		56,958		123,875
Shanghai Commercial & Savings Bank Ltd. (The)		12,737,318		18,156,776
Shin Kong Financial Holding Co. Ltd.(b)		41,228,586		11,452,004
SinoPac Financial Holdings Co. Ltd.		39,598,626		15,562,491
Standard Foods Corp.		1,737,615		3,674,889
Synnex Technology International Corp.		4,975,834		7,358,103
Taishin Financial Holding Co. Ltd.		35,411,482		15,332,199
Taiwan Business Bank		17,986,493		6,349,936
Taiwan Cement Corp.(b)		17,517,898		24,825,531
Taiwan Cooperative Financial Holding Co. Ltd.		33,631,869		22,850,629
Taiwan High Speed Rail Corp.		7,424,000		9,321,725
Taiwan Mobile Co. Ltd.		5,970,600		21,376,836
Taiwan Semiconductor Manufacturing Co. Ltd.		91,643,000		891,249,159
Tatung Co. Ltd.(a)		6,720,000		4,644,130
Uni-President Enterprises Corp.		17,986,839		43,611,720
United Microelectronics Corp.(b)		41,353,000		21,279,062
Vanguard International Semiconductor Corp.(b)		3,368,000		8,244,729
Walsin Technology Corp.(b)		1,188,000		7,399,034
Win Semiconductors Corp.(b)		1,262,000		10,802,132
Winbond Electronics Corp.		11,258,000		5,155,620
Wistron Corp.		10,470,940		9,973,985
Wiwynn Corp.		296,000		7,896,619
WPG Holdings Ltd.		6,048,449		7,906,798
Yageo Corp.(b)		1,020,861		12,597,136
Yuanta Financial Holding Co. Ltd.		35,281,635		19,094,973
Zhen Ding Technology Holding Ltd.		2,047,075		8,147,393
				2,420,428,643
Thailand — 2.4%
Advanced Info Service PCL, NVDR(b)		4,436,300		26,846,518
Airports of Thailand PCL, NVDR(b)		16,121,300		31,421,584
Asset World Corp. PCL		11,927,600		1,777,329
B Grimm Power PCL, NVDR		2,871,300		4,761,430
Bangkok Bank PCL, Foreign		1,826,400		6,229,626
Bangkok Commercial Asset Management PCL, NVDR		3,133,900		2,325,056
Bangkok Dusit Medical Services PCL, NVDR		35,877,400		25,376,973
Bangkok Expressway & Metro PCL, NVDR		28,946,500		8,963,314
Berli Jucker PCL, NVDR(b)		4,560,100		6,092,557
BTS Group Holdings PCL, NVDR		27,120,900		10,316,344
Bumrungrad Hospital PCL, NVDR		1,599,200		6,032,820
Central Pattana PCL, NVDR(b)		8,782,400		13,597,397
Central Retail Corp. PCL, NVDR(a)(b)		6,407,234		7,754,747
Charoen Pokphand Foods PCL, NVDR		14,911,600		14,766,281
CP ALL PCL, NVDR(a)		21,867,900		48,465,481
Electricity Generating PCL, NVDR		1,111,000		9,639,610
Energy Absolute PCL, NVDR		5,977,200		7,328,224
Global Power Synergy PCL, NVDR		2,644,500		6,276,635
Gulf Energy Development PCL, NVDR(b)		8,344,800		9,903,056
Home Product Center PCL, NVDR		23,080,114		10,738,311
Indorama Ventures PCL, NVDR		6,404,680		5,738,239
Intouch Holdings PCL, NVDR		8,564,300		14,471,271
IRPC PCL, NVDR(b)		43,082,200		3,656,773
Kasikornbank PCL		4,475,600		13,682,870
Kasikornbank PCL, NVDR		2,178,800		6,575,442

11

Consolidated Schedule of Investments  (unaudited) (continued) May 31, 2020 iShares^® MSCI Emerging Markets ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
Thailand (continued)
Krung Thai Bank PCL, NVDR		13,261,900	$	4,335,862
Krungthai Card PCL, NVDR		2,508,000		3,035,461
Land & Houses PCL, NVDR		31,657,000		7,264,888
Minor International PCL, NVDR(a)		10,491,720		6,134,737
Muangthai Capital PCL, NVDR(a)(b)		2,682,000		4,700,456
Osotspa PCL, NVDR		2,611,900		3,489,649
PTT Exploration & Production PCL, NVDR		5,186,739		13,696,513
PTT Global Chemical PCL, NVDR		8,463,630		11,440,933
PTT PCL, NVDR		42,718,500		47,673,900
Ratch Group PCL, NVDR		2,878,100		6,333,449
Siam Cement PCL (The), NVDR		2,915,000		31,431,782
Siam Commercial Bank PCL (The), NVDR		3,201,700		7,448,155
Srisawad Corp PCL, NVDR(a)		2,694,300		4,827,887
Thai Oil PCL, NVDR(b)		4,394,000		5,939,704
Thai Union Group PCL, NVDR(b)		12,244,300		5,273,402
TMB Bank PCL, NVDR		81,017,963		2,928,974
Total Access Communication PCL, NVDR(b)		2,706,200		3,785,787
True Corp. PCL, NVDR(b)		44,359,301		5,159,680
				477,639,107
Turkey — 0.4%
Akbank T.A.S.(a)		11,157,224		9,306,546
Anadolu Efes Biracilik Ve Malt Sanayii AS(a)		826,983		2,247,638
Arcelik AS(a)		176,504		408,043
Aselsan Elektronik Sanayi Ve Ticaret AS		1,293,119		5,721,078
BIM Birlesik Magazalar AS		1,666,123		15,900,404
Enka Insaat ve Sanayi AS		2		1
Eregli Demir ve Celik Fabrikalari TAS		5,390,514		6,361,304
Ford Otomotiv Sanayi AS		262,754		2,382,370
Haci Omer Sabanci Holding AS		3,541,122		4,308,629
KOC Holding AS		2,829,786		6,695,411
TAV Havalimanlari Holding AS		691,427		2,057,607
Tupras Turkiye Petrol Rafinerileri AS(a)		477,154		5,994,590
Turk Hava Yollari AO(a)(b)		1,982,186		3,661,298
Turkcell Iletisim Hizmetleri AS		4,172,707		8,661,663
Turkiye Garanti Bankasi AS(a)		8,689,820		9,961,796
Turkiye Is Bankasi AS, Class C(a)		5,951,437		4,318,642
Yapi ve Kredi Bankasi AS(a)		6,822,845		2,320,458
				90,307,478
United Arab Emirates — 0.6%
Abu Dhabi Commercial Bank PJSC		10,697,150		12,813,923
Aldar Properties PJSC		14,674,267		6,911,365
DP World PLC		629,497		9,914,578
Dubai Islamic Bank PJSC		6,762,898		6,536,158
Emaar Malls PJSC(a)		9,443,654		3,393,715
Emaar Properties PJSC(a)		13,603,594		9,258,806
Emirates NBD Bank PJSC		4,137,793		9,732,935
Emirates Telecommunications Group Co. PJSC		6,670,566		28,402,775
First Abu Dhabi Bank PJSC		10,347,088		31,211,830
				118,176,085
Total Common Stocks — 96.7% (Cost: $19,028,110,107)				19,647,797,178
Preferred Stocks
Brazil — 1.4%
Banco Bradesco SA, Preference Shares, NVS		16,422,827		57,301,939
Braskem SA, Class A, Preference Shares, NVS		716,600		3,660,121
Centrais Eletricas Brasileiras SA, Class B,
Preference Shares, NVS		987,437		5,581,616

Security	Shares		Value
Brazil (continued)
Cia. Energetica de Minas Gerais, Preference Shares, NVS		3,521,310	$	7,002,292
Cia. Paranaense de Energia, Preference Shares, NVS		240,500		2,803,051
Gerdau SA, Preference Shares, NVS		4,078,385		10,085,013
Itau Unibanco Holding SA, Preference Shares, NVS		18,046,179		76,556,124
Itausa-Investimentos Itau SA, Preference Shares, NVS		16,732,292		27,296,148
Lojas Americanas SA, Preference Shares, NVS		2,860,129		14,877,031
Petroleo Brasileiro SA, Preference Shares, NVS		17,160,627		64,268,224
Telefonica Brasil SA, Preference Shares, NVS		1,677,667		14,561,548
				283,993,107
Chile — 0.1%
Embotelladora Andina SA, Class B, Preference Shares		1,250,672		2,983,781
Sociedad Quimica y Minera de Chile SA, Series B, Preference Shares		435,059		10,616,585
				13,600,366
Colombia — 0.0%
Bancolombia SA, Preference Shares, NVS		1,740,769		11,533,379
Russia — 0.1%
Surgutneftegas PJSC, Preference Shares, NVS		26,231,474		13,148,925
South Korea — 0.6%
Amorepacific Corp., Preference Shares, NVS		37,015		1,724,547
Hyundai Motor Co.
Preference Shares, NVS		91,865		4,176,188
Series 2, Preference Shares, NVS		145,823		7,088,332
LG Chem Ltd., Preference Shares, NVS		31,037		4,435,826
LG Household & Health Care Ltd., Preference Shares, NVS		8,299		4,791,300
Samsung Electronics Co. Ltd., Preference Shares, NVS		3,084,076		106,708,108
				128,924,301
Total Preferred Stocks — 2.2% (Cost: $408,524,193)				451,200,078
Rights
Brazil — 0.0%
Natura & Co. Holding SA, (Expires 06/12/20)(a)		128,681		117,993
China — 0.0%
Legend Holdings Corp., Class H, (Expires 07/20/20)(a)(d)		188,246		0	(f)
Total Rights — 0.0% (Cost: $0)				117,993
Short-Term Investments
Money Market Funds — 3.6%
BlackRock Cash Funds: Institutional,
SL Agency Shares, 0.69%(g)(h)(i)		544,674,348		545,491,359

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Consolidated Schedule of Investments  (unaudited) (continued) May 31, 2020 iShares^® MSCI Emerging Markets ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
Money Market Funds (continued)
BlackRock Cash Funds: Treasury, SL Agency Shares,
0.16%(g)(h)		190,040,000	$	190,040,000
				735,531,359
Total Short-Term Investments — 3.6% (Cost: $734,761,018)				735,531,359
Total Investments in Securities — 102.5% (Cost: $20,171,395,318)				20,834,646,608
Other Assets, Less Liabilities — (2.5)%				(500,240,034	)
Net Assets — 100.0%			$	20,334,406,574

^(a)  Non-income producing security.

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

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

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

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

^(f)  Rounds to less than $1.

^(g)  Affiliate of the Fund.

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

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

Affiliates

Investments in issuers considered to be affiliates of the Fund during the period ended May 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 08/31/19	Net Activity		Shares Held at 05/31/20		Value at 05/31/20		Income			Net Realized Gain (Loss)	(a)		Change in Unrealized Appreciation (Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares	639,656,107	(94,981,759	)	544,674,348	$	545,491,359	$	10,249,244	(b)	$	7,725		$	476,741
BlackRock Cash Funds: Treasury, SL Agency Shares	50,332,000	139,708,000		190,040,000		190,040,000		473,611			—			—
					$	735,531,359	$	10,722,855		$	7,725		$	476,741

^(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.

Futures Contracts

Description	Number of Contracts		Expiration Date		Notional Amount (000)		Value/ Unrealized Appreciation (Depreciation)
Long Contracts
MSCI Emerging Markets E-Mini Index		5,602		06/19/20	$	261,305	$	34,883,109

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.

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Consolidated Schedule of Investments  (unaudited) (continued) May 31, 2020 iShares^® MSCI Emerging Markets ETF

Fair Value Measurements (continued)

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of May 31, 2020. The breakdown of the Fund’s investments into major categories is disclosed in the Consolidated Schedule of Investments above.

	Level 1		Level 2		Level 3			Total
Investments
Assets
Common Stocks	$	19,054,222,633	$	593,571,792	$	2,753		$	19,647,797,178
Preferred Stocks		451,200,078		—		—			451,200,078
Rights		117,993		—		0	(a)		117,993
Money Market Funds		735,531,359		—		—			735,531,359
	$	20,241,072,063	$	593,571,792	$	2,753		$	20,834,646,608
Derivative financial instruments(b)
Assets
Futures Contracts	$	34,883,109	$	—	$	—		$	34,883,109

^(a)  Rounds to less than $1.

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

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

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