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

Security	Shares		Value
Common Stocks
Argentina — 0.2%
Globant SA(a)		414	$	58,047
Telecom Argentina SA, ADR		1,092		9,380
YPF SA, ADR		1,790		9,022
				76,449
Brazil — 6.1%
Ambev SA		58,000		133,277
Atacadao SA		5,000		17,022
B2W Cia. Digital(a)		3,068		51,756
B3 SA — Brasil, Bolsa, Balcao		26,000		218,059
Banco Bradesco SA		14,228		46,632
Banco BTG Pactual SA		3,000		26,978
Banco do Brasil SA		10,000		56,784
Banco Santander Brasil SA		4,000		18,781
BB Seguridade Participacoes SA		9,000		41,892
BR Malls Participacoes SA		12,000		21,675
BRF SA(a)		5,321		22,661
CCR SA		15,000		40,600
Centrais Eletricas Brasileiras SA		4,091		21,566
Cia Brasileira de Distribuicao		2,000		23,192
Cia. de Saneamento Basico do Estado de Sao Paulo		4,000		40,007
Cia. Siderurgica Nacional SA		9,000		17,102
Cielo SA		15,000		11,296
Cogna Educacao		19,000		18,401
Cosan SA		2,000		24,249
Energisa SA		2,000		17,492
Engie Brasil Energia SA		3,000		23,426
Equatorial Energia SA		12,000		44,300
Hapvida Participacoes e Investimentos SA(b)		3,000		30,303
Hypera SA		5,000		29,663
IRB Brasil Resseguros S/A		9,000		13,754
JBS SA		14,000		56,633
Klabin SA		11,000		39,920
Localiza Rent a Car SA		8,240		58,381
Lojas Renner SA		11,030		78,291
Magazine Luiza SA		9,000		106,636
Multiplan Empreendimentos Imobiliarios SA		6,000		22,857
Natura & Co. Holding SA		9,000		61,612
Notre Dame Intermedica Participacoes SA		6,000		68,826
Petrobras Distribuidora SA		8,000		31,876
Petroleo Brasileiro SA		45,000		172,672
Raia Drogasil SA		3,000		60,452
Rumo SA(a)		16,000		66,373
Sul America SA		3,000		24,774
Suzano SA(a)		7,000		48,797
TIM Participacoes SA		6,028		15,117
Ultrapar Participacoes SA		9,000		28,370
Vale SA		43,822		427,642
WEG SA		12,040		92,731
				2,472,828
Chile — 0.8%
Banco de Chile		416,060		35,142
Banco de Credito e Inversiones SA		771		25,949
Banco Santander Chile		489,910		19,835
Cencosud SA		18,950		22,005
Cia. Cervecerias Unidas SA		2,740		19,696
Empresa Nacional de Telecomunicaciones SA		170		1,076
Empresas CMPC SA		17,740		35,912
Empresas COPEC SA		5,950		37,317

Security	Shares		Value
Chile (continued)
Enel Americas SA		485,180	$	70,198
Enel Chile SA		357,870		26,662
Falabella SA		11,440		26,497
				320,289
China — 0.1%
Silergy Corp.		1,000		53,955
Colombia — 0.3%
Bancolombia SA		4,510		30,367
Ecopetrol SA		58,920		31,579
Grupo de Inversiones Suramericana SA		4,040		19,803
Interconexion Electrica SA ESP		6,880		36,318
				118,067
Czech Republic — 0.2%
CEZ AS		1,820		35,759
Komercni Banka AS(a)		1,020		21,874
Moneta Money Bank AS(b)		9,020		19,978
				77,611
Egypt — 0.2%
Commercial International Bank Egypt SAE		13,550		54,175
Eastern Co. SAE		13,626		10,850
				65,025
Greece — 0.3%
Alpha Bank AE(a)		16,323		10,077
Eurobank Ergasias Services and Holdings SA, Series A(a)		31,457		13,297
Hellenic Telecommunications Organization SA		2,090		29,432
Jumbo SA		1,570		28,501
Motor Oil Hellas Corinth Refineries SA		180		3,003
National Bank of Greece SA(a)		3,096		4,164
OPAP SA		2,670		24,948
				113,422
Hungary — 0.4%
MOL Hungarian Oil & Gas PLC		5,940		37,583
OTP Bank Nyrt(a)		2,950		98,251
Richter Gedeon Nyrt		1,790		39,151
				174,985
Indonesia — 2.6%
Adaro Energy Tbk PT		187,000		14,079
Astra International Tbk PT		266,000		86,846
Bank Central Asia Tbk PT		123,000		218,470
Bank Mandiri Persero Tbk PT		242,000		74,041
Bank Negara Indonesia Persero Tbk PT		105,000		27,526
Bank Rakyat Indonesia Persero Tbk PT		718,000		144,976
Barito Pacific Tbk PT(a)		354,000		32,710
Charoen Pokphand Indonesia Tbk PT		102,000		40,318
Gudang Garam Tbk PT		7,000		23,357
Hanjaya Mandala Sampoerna Tbk PT		89,000		11,818
Indah Kiat Pulp & Paper Corp. Tbk PT		30,000		10,780
Indocement Tunggal Prakarsa Tbk PT		26,000		21,533
Indofood CBP Sukses Makmur Tbk PT		29,200		16,289
Indofood Sukses Makmur Tbk PT		68,000		26,763
Kalbe Farma Tbk PT		285,000		27,603
Pabrik Kertas Tjiwi Kimia Tbk PT		3,000		815
Perusahaan Gas Negara Tbk PT		155,000		9,124
Semen Indonesia Persero Tbk PT		46,000		30,856
Telekomunikasi Indonesia Persero Tbk PT		614,400		132,468
Unilever Indonesia Tbk PT		95,400		50,606
United Tractors Tbk PT		23,000		24,716

1

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

Security	Shares		Value
Indonesia (continued)
XL Axiata Tbk PT(a)		18,000	$	3,191
				1,028,885
Malaysia — 3.1%
Axiata Group Bhd		39,000		34,089
CIMB Group Holdings Bhd		69,000		59,834
Dialog Group Bhd		44,000		40,382
DiGi.Com Bhd		51,000		53,375
Gamuda Bhd		32,000		28,706
Genting Bhd		34,000		31,282
Genting Malaysia Bhd		40,000		21,346
Hartalega Holdings Bhd		22,000		63,457
Hong Leong Bank Bhd		12,000		37,539
IHH Healthcare Bhd		30,000		37,470
IOI Corp. Bhd		21,000		21,978
Kuala Lumpur Kepong Bhd		7,000		35,487
Malayan Banking Bhd		54,000		93,157
Malaysia Airports Holdings Bhd		14,144		16,267
Maxis Bhd		34,000		41,293
MISC Bhd		24,000		45,819
Petronas Chemicals Group Bhd		28,000		40,575
Petronas Dagangan Bhd		1,500		8,101
Petronas Gas Bhd		10,000		43,703
PPB Group Bhd		9,040		36,098
Press Metal Aluminium Holdings Bhd		25,000		21,679
Public Bank Bhd		41,000		138,254
RHB Bank Bhd		20,000		21,944
Sime Darby Bhd		46,000		22,114
Sime Darby Plantation Bhd		31,000		35,367
Telekom Malaysia Bhd		6,000		5,838
Tenaga Nasional Bhd		39,000		101,010
Top Glove Corp. Bhd		25,000		76,481
YTL Corp. Bhd		61,040		14,602
				1,227,247
Mexico — 3.1%
Alfa SAB de CV, Class A		28,000		14,854
America Movil SAB de CV, Series L, NVS		418,400		280,008
Arca Continental SAB de CV		6,000		26,817
Cemex SAB de CV, CPO, NVS		184,000		43,652
Coca-Cola Femsa SAB de CV		7,000		30,616
Fibra Uno Administracion SA de CV		43,000		32,858
Fomento Economico Mexicano SAB de CV		24,000		162,634
Gruma SAB de CV, Series B		2,600		25,857
Grupo Aeroportuario del Pacifico SAB de CV, Series B		5,000		33,075
Grupo Aeroportuario del Sureste SAB de CV, Class B		2,585		26,697
Grupo Bimbo SAB de CV, Series A		20,000		31,333
Grupo Financiero Banorte SAB de CV, Class O		33,000		100,284
Grupo Financiero Inbursa SAB de CV, Class O		25,000		17,172
Grupo Mexico SAB de CV, Series B		46,000		98,694
Grupo Televisa SAB, CPO(a)		29,900		35,494
Industrias Penoles SAB de CV		1,757		16,742
Infraestructura Energetica Nova SAB de CV		4,000		11,377
Kimberly-Clark de Mexico SAB de CV, Class A		19,000		29,552
Megacable Holdings SAB de CV, CPO		4,000		12,123
Orbia Advance Corp. SAB de CV		13,000		19,115
Promotora y Operadora de Infraestructura SAB de CV(a)		4,300		32,490
Wal-Mart de Mexico SAB de CV		66,000		165,076
				1,246,520
Pakistan — 0.0%
MCB Bank Ltd.		17,000		15,326

Security	Shares		Value
Peru — 0.5%
Cia. de Minas Buenaventura SAA, ADR		2,810	$	22,059
Credicorp Ltd.		860		118,525
Southern Copper Corp.		1,110		40,293
				180,877
Philippines — 1.4%
Aboitiz Equity Ventures Inc.		34,250		29,027
Ayala Corp.		3,700		54,637
Ayala Land Inc.		117,000		73,963
BDO Unibank Inc.		24,800		49,188
Globe Telecom Inc.		250		11,330
GT Capital Holdings Inc.		1,704		13,027
International Container Terminal Services Inc.		12,800		22,176
JG Summit Holdings Inc.		44,240		42,649
Jollibee Foods Corp.		6,900		14,817
Manila Electric Co.		4,100		22,922
Metro Pacific Investments Corp.		270,600		15,449
Metropolitan Bank & Trust Co.		16,047		11,159
PLDT Inc.		1,250		31,485
SM Investments Corp.		4,005		72,394
SM Prime Holdings Inc.		143,000		85,173
Universal Robina Corp.		12,900		33,384
				582,780
Poland — 1.3%
Bank Polska Kasa Opieki SA		2,210		29,009
CD Projekt SA		870		87,734
Dino Polska SA(a)(b)		490		22,345
Grupa Lotos SA		1,280		19,033
KGHM Polska Miedz SA(a)		1,950		42,017
LPP SA		30		51,396
mBank SA(a)		270		14,524
Orange Polska SA(a)		4,260		6,937
PGE Polska Grupa Energetyczna SA(a)		12,140		14,662
Polski Koncern Naftowy ORLEN SA		3,980		66,357
Polskie Gornictwo Naftowe i Gazownictwo SA		24,740		25,975
Powszechna Kasa Oszczednosci Bank Polski SA		11,850		65,994
Powszechny Zaklad Ubezpieczen SA		7,510		55,966
Santander Bank Polska SA(a)		490		19,922
				521,871
Qatar — 1.5%
Commercial Bank PSQC (The)		23,500		23,713
Industries Qatar QSC		21,360		45,907
Masraf Al Rayan QSC		55,800		59,734
Mesaieed Petrochemical Holding Co.		54,800		29,990
Ooredoo QPSC		15,750		27,093
Qatar Electricity & Water Co. QSC		8,800		35,856
Qatar Fuel QSC		2,576		11,256
Qatar International Islamic Bank QSC		7,170		15,194
Qatar Islamic Bank SAQ		14,800		62,243
Qatar National Bank QPSC		57,880		279,458
				590,444
Russia — 5.7%
Alrosa PJSC		31,203		29,153
Gazprom PJSC		134,300		380,136
Inter RAO UES PJSC		590,000		41,293
LUKOIL PJSC		5,340		396,297
Magnit PJSC, GDR(c)		3,760		42,864
Magnitogorsk Iron & Steel Works PJSC		25,000		14,312
MMC Norilsk Nickel PJSC		840		262,912
Mobile TeleSystems PJSC, ADR		6,640		59,030

2

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

Security	Shares		Value
Russia (continued)
Moscow Exchange MICEX-RTS PJSC		6,100	$	9,869
Novatek PJSC, GDR(c)		1,160		167,852
Novolipetsk Steel PJSC		13,800		26,912
PhosAgro PJSC, GDR(c)		1,720		23,736
Polymetal International PLC		2,000		40,019
Polyus PJSC		250		41,311
Rosneft Oil Co. PJSC, GDR(c)		15,610		81,234
Sberbank of Russia PJSC		127,800		362,733
Severstal PAO		3,000		39,691
Surgutneftegas PJSC		92,000		51,586
Tatneft PJSC		19,200		144,595
VTB Bank PJSC, GDR(c)		26,560		26,135
X5 Retail Group NV, GDR(c)		1,780		52,638
				2,294,308
Saudi Arabia — 4.8%
Abdullah Al Othaim Markets Co.		760		23,657
Advanced Petrochemical Co.		2,360		31,112
Al Rajhi Bank		16,410		250,938
Alinma Bank(a)		9,883		39,476
Almarai Co. JSC		3,210		42,842
Arab National Bank		5,450		29,303
Bank AlBilad		5,870		34,691
Bank Al-Jazira		8,380		25,583
Banque Saudi Fransi		6,960		56,340
Bupa Arabia for Cooperative Insurance Co.		860		26,442
Co for Cooperative Insurance (The)(a)		1,360		25,903
Dar Al Arkan Real Estate Development Co.(a)		5,100		9,492
Emaar Economic City(a)		4,782		9,017
Etihad Etisalat Co.(a)		4,350		30,656
Jarir Marketing Co.		880		32,516
National Commercial Bank		16,140		164,247
National Industrialization Co.(a)		4,098		10,972
Rabigh Refining & Petrochemical Co.(a)		2,130		7,824
Riyad Bank		15,770		70,372
Sahara International Petrochemical Co.		6,490		25,429
Samba Financial Group		12,570		80,581
Saudi Airlines Catering Co.		840		17,371
Saudi Arabian Fertilizer Co.		2,220		45,606
Saudi Arabian Mining Co.(a)		4,290		39,163
Saudi Arabian Oil Co.(b)		14,020		125,888
Saudi Basic Industries Corp.		10,530		237,809
Saudi British Bank (The)		7,680		47,854
Saudi Cement Co.		1,520		19,025
Saudi Electricity Co.		10,880		50,031
Saudi Industrial Investment Group		4,740		25,150
Saudi Kayan Petrochemical Co.(a)		12,240		27,643
Saudi Telecom Co.		7,250		197,269
Savola Group (The)		3,110		34,695
Yanbu National Petrochemical Co.		2,860		38,832
				1,933,729
South Africa — 6.2%
Absa Group Ltd.		9,310		42,881
Anglo American Platinum Ltd.		530		33,369
AngloGold Ashanti Ltd.		5,390		129,786
Aspen Pharmacare Holdings Ltd.(a)		3,960		31,375
Bid Corp. Ltd.		4,260		59,516
Bidvest Group Ltd. (The)		4,080		35,143
Capitec Bank Holdings Ltd.		580		27,825
Clicks Group Ltd.		3,250		42,909

Security	Shares		Value
South Africa (continued)
Discovery Ltd.		5,060	$	28,200
Exxaro Resources Ltd.		3,510		24,674
FirstRand Ltd.		43,180		98,290
Gold Fields Ltd.		10,780		83,833
Growthpoint Properties Ltd.		38,130		26,992
Impala Platinum Holdings Ltd.		9,960		66,146
Investec Ltd.		387		668
Kumba Iron Ore Ltd.		480		12,914
Life Healthcare Group Holdings Ltd.		20,850		21,655
Mr. Price Group Ltd.		2,870		21,163
MTN Group Ltd.		22,010		67,293
MultiChoice Group Ltd.(a)		6,840		33,565
Naspers Ltd., Class N		5,560		879,372
Nedbank Group Ltd.		4,711		26,396
NEPI Rockcastle PLC		5,520		28,023
Northam Platinum Ltd.(a)		4,020		24,996
Old Mutual Ltd.		65,260		41,571
Pick n Pay Stores Ltd.		5,100		15,416
PSG Group Ltd.		2,140		19,722
Rand Merchant Investment Holdings Ltd.		9,420		14,518
Redefine Properties Ltd.		7,308		796
Reinet Investments SCA		2,040		31,822
Remgro Ltd.		6,810		53,678
RMB Holdings Ltd.		9,710		29,169
Sanlam Ltd.		24,810		79,611
Sasol Ltd.(a)		6,910		35,472
Shoprite Holdings Ltd.		5,740		33,689
Sibanye Stillwater Ltd.(a)		33,040		60,666
SPAR Group Ltd. (The)		2,350		23,353
Standard Bank Group Ltd.		16,490		95,042
Tiger Brands Ltd.		1,930		17,189
Vodacom Group Ltd.		7,710		55,205
Woolworths Holdings Ltd.		12,440		20,407
				2,474,310
South Korea — 18.2%
Amorepacific Corp.		460		60,543
AMOREPACIFIC Group		360		16,802
BGF retail Co. Ltd.		141		19,013
BNK Financial Group Inc.		1,960		8,040
Celltrion Healthcare Co. Ltd.(a)		733		53,742
Celltrion Inc.(a)		1,194		205,837
Celltrion Pharm Inc.(a)		156		11,551
CJ CheilJedang Corp.		140		33,574
CJ ENM Co. Ltd.		180		17,587
Coway Co. Ltd.		700		37,644
Daelim Industrial Co. Ltd.		450		33,538
Daewoo Shipbuilding & Marine Engineering Co. Ltd.(a)		900		15,842
DB Insurance Co. Ltd.		640		22,428
Douzone Bizon Co. Ltd.		240		23,255
E-MART Inc.		290		26,578
Fila Holdings Corp.		610		18,939
GS Engineering & Construction Corp.		1,020		23,514
GS Holdings Corp.		770		23,440
Hana Financial Group Inc.		3,420		82,155
Hankook Tire & Technology Co. Ltd.		630		11,929
Hanmi Pharm Co. Ltd.		101		19,328
Hanon Systems		3,190		25,088
Hanwha Corp.		780		12,659
Hanwha Solutions Corp.		1,460		19,039

3

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

Security	Shares		Value
South Korea (continued)
HDC Hyundai Development Co-Engineering & Construction, Class E		44	$	709
Helixmith Co. Ltd.(a)		355		17,944
HLB Inc.(a)		520		47,404
Hotel Shilla Co. Ltd.		460		29,417
Hyundai Engineering & Construction Co. Ltd.		1,040		28,720
Hyundai Glovis Co. Ltd.		270		24,636
Hyundai Heavy Industries Holdings Co. Ltd.		220		48,052
Hyundai Marine & Fire Insurance Co. Ltd.		820		16,056
Hyundai Mobis Co. Ltd.		840		134,297
Hyundai Motor Co.		1,940		153,515
Hyundai Steel Co.		960		16,937
Industrial Bank of Korea		1,040		6,953
Kakao Corp.		630		134,043
Kangwon Land Inc.		1,210		23,644
KB Financial Group Inc.		4,800		131,778
KCC Corp.		25		2,897
Kia Motors Corp.		3,190		88,221
KMW Co. Ltd.(a)		170		8,003
Korea Aerospace Industries Ltd.		1,160		23,744
Korea Electric Power Corp.(a)		3,170		55,288
Korea Investment Holdings Co. Ltd.		630		26,809
Korea Shipbuilding & Offshore Engineering Co. Ltd.(a)		670		49,123
Korea Zinc Co. Ltd.		100		30,522
KT&G Corp.		1,460		98,909
Kumho Petrochemical Co. Ltd.		80		4,580
LG Chem Ltd.		570		179,729
LG Corp.		1,350		68,784
LG Display Co. Ltd.(a)		2,800		23,061
LG Electronics Inc.		1,440		68,951
LG Household & Health Care Ltd.		130		143,809
LG Innotek Co. Ltd.		170		20,247
LG Uplus Corp.		1,720		18,263
Lotte Chemical Corp.		220		33,397
Lotte Corp.		390		10,801
Lotte Shopping Co. Ltd.		171		12,289
Medy-Tox Inc.		24		3,275
Mirae Asset Daewoo Co. Ltd.		4,600		22,917
NAVER Corp.		1,560		284,678
NCSoft Corp.		210		133,958
Netmarble Corp.(a)(b)		340		25,340
NH Investment & Securities Co. Ltd.		2,570		20,191
OCI Co. Ltd.(a)		91		2,895
Orion Corp.		340		36,239
Pearl Abyss Corp.(a)		80		13,210
POSCO		920		134,458
POSCO Chemical Co. Ltd.		340		15,237
S-1 Corp.		72		5,418
Samsung Biologics Co. Ltd.(a)(b)		210		105,471
Samsung C&T Corp.		990		79,219
Samsung Electro-Mechanics Co. Ltd.		760		76,709
Samsung Electronics Co. Ltd.		59,590		2,439,512
Samsung Engineering Co. Ltd.(a)		1,950		19,052
Samsung Fire & Marine Insurance Co. Ltd.		410		60,418
Samsung Heavy Industries Co. Ltd.(a)		9,200		35,769
Samsung Life Insurance Co. Ltd.		980		36,163
Samsung SDI Co. Ltd.		730		211,611
Samsung SDS Co. Ltd.		430		66,143
Samsung Securities Co. Ltd.		590		13,315
Shinhan Financial Group Co. Ltd.		5,370		130,732

Security	Shares		Value
South Korea (continued)
Shinsegae Inc.		100	$	19,783
SK Holdings Co. Ltd.		460		88,772
SK Hynix Inc.		6,860		451,443
SK Innovation Co. Ltd.		680		65,065
SK Telecom Co. Ltd.		240		41,859
S-Oil Corp.		620		35,394
Woori Financial Group Inc.		3,870		28,530
Yuhan Corp.		732		30,676
				7,337,049
Taiwan — 20.0%
Accton Technology Corp.		10,000		80,433
Acer Inc.		40,000		21,782
Advantech Co. Ltd.		2,000		19,784
ASE Technology Holding Co. Ltd.		40,000		82,331
Asia Cement Corp.		30,000		43,514
Asustek Computer Inc.		10,000		70,108
AU Optronics Corp.		110,000		27,770
Catcher Technology Co. Ltd.		10,000		72,606
Cathay Financial Holding Co. Ltd.		100,063		133,473
Chailease Holding Co. Ltd.		20,442		79,317
Chang Hwa Commercial Bank Ltd.		80,461		50,380
Cheng Shin Rubber Industry Co. Ltd.		20,000		21,848
China Airlines Ltd.		30,000		8,193
China Development Financial Holding Corp.		170,000		51,467
China Life Insurance Co. Ltd.(a)		40,507		27,994
China Steel Corp.		140,000		92,323
Chunghwa Telecom Co. Ltd.		40,000		147,211
Compal Electronics Inc.		50,000		31,807
CTBC Financial Holding Co. Ltd.		220,000		146,178
Delta Electronics Inc.		30,000		137,885
E.Sun Financial Holding Co. Ltd.		150,691		133,752
Eva Airways Corp.		30,000		10,991
Evergreen Marine Corp. Taiwan Ltd.(a)		30,000		10,891
Far Eastern New Century Corp.		40,000		35,837
Far EasTone Telecommunications Co. Ltd.		22,000		47,407
First Financial Holding Co. Ltd.		131,572		100,131
Formosa Chemicals & Fibre Corp.		50,000		119,900
Formosa Petrochemical Corp.		10,000		29,209
Formosa Plastics Corp.		51,000		140,983
Foxconn Technology Co. Ltd.		20,000		35,903
Fubon Financial Holding Co. Ltd.		80,000		112,973
Globalwafers Co. Ltd.		1,000		12,040
Highwealth Construction Corp.		20,000		29,542
Hon Hai Precision Industry Co. Ltd.		160,200		404,435
Hotai Motor Co. Ltd.		2,600		46,415
Hua Nan Financial Holdings Co. Ltd.		120,070		77,781
Innolux Corp.		90,000		18,644
Inventec Corp.		40,000		32,506
Largan Precision Co. Ltd.		1,000		127,727
Lite-On Technology Corp.		30,000		48,060
MediaTek Inc.		20,000		308,410
Mega Financial Holding Co. Ltd.		130,000		133,139
Micro-Star International Co. Ltd.		10,000		33,639
Nan Ya Plastics Corp.		60,000		125,695
Nanya Technology Corp.		20,000		39,833
Novatek Microelectronics Corp.		10,000		68,276
Pegatron Corp.		30,000		64,446
Pou Chen Corp.		50,000		49,209
Powertech Technology Inc.		10,000		32,306
President Chain Store Corp.		10,000		98,418

4

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

Security	Shares		Value
Taiwan (continued)
Quanta Computer Inc.		40,000	$	93,256
Realtek Semiconductor Corp.		3,000		25,829
Shanghai Commercial & Savings Bank Ltd. (The)		50,437		71,897
Shin Kong Financial Holding Co. Ltd.		134,930		37,479
SinoPac Financial Holdings Co. Ltd.		130,259		51,193
Synnex Technology International Corp.		20,000		29,575
Taishin Financial Holding Co. Ltd.		141,904		61,441
Taiwan Business Bank		72,100		25,454
Taiwan Cement Corp.		60,173		85,274
Taiwan Cooperative Financial Holding Co. Ltd.		120,664		81,983
Taiwan High Speed Rail Corp.		40,000		50,225
Taiwan Mobile Co. Ltd.		21,000		75,187
Taiwan Semiconductor Manufacturing Co. Ltd.		307,000		2,985,645
Tatung Co. Ltd.(a)		20,000		13,822
Uni-President Enterprises Corp.		60,000		145,479
United Microelectronics Corp.		140,000		72,040
Vanguard International Semiconductor Corp.		13,000		31,824
Win Semiconductors Corp.		2,000		17,119
Winbond Electronics Corp.		40,000		18,318
Wistron Corp.		40,598		38,671
WPG Holdings Ltd.		21,520		28,132
Yageo Corp.		3,000		37,019
Yuanta Financial Holding Co. Ltd.		130,000		70,358
Zhen Ding Technology Holding Ltd.		10,000		39,800
				8,061,922
Thailand — 4.0%
Advanced Info Service PCL, NVDR		16,000		96,825
Airports of Thailand PCL, NVDR		57,000		111,097
Asset World Corp. PCL		33,000		4,917
B Grimm Power PCL, NVDR		12,000		19,899
Bangkok Bank PCL, Foreign		7,000		23,876
Bangkok Commercial Asset Management PCL, NVDR		9,000		6,677
Bangkok Dusit Medical Services PCL, NVDR		122,000		86,294
Bangkok Expressway & Metro PCL, NVDR		94,000		29,107
Berli Jucker PCL, NVDR		23,000		30,729
BTS Group Holdings PCL, NVDR		85,000		32,333
Bumrungrad Hospital PCL, NVDR		7,000		26,407
Central Pattana PCL, NVDR		30,000		46,448
Charoen Pokphand Foods PCL, NVDR		29,000		28,717
CP ALL PCL, NVDR(a)		74,000		164,005
Electricity Generating PCL, NVDR		4,000		34,706
Energy Absolute PCL, NVDR		21,000		25,747
Global Power Synergy PCL, NVDR		10,000		23,735
Gulf Energy Development PCL, NVDR		25,500		30,262
Home Product Center PCL, NVDR		64,000		29,777
Indorama Ventures PCL, NVDR		25,000		22,399
Intouch Holdings PCL, NVDR		23,000		38,863
Kasikornbank PCL		16,000		48,915
Kasikornbank PCL, NVDR		11,000		33,197
Krung Thai Bank PCL, NVDR		45,000		14,712
Krungthai Card PCL, NVDR		5,000		6,051
Land & Houses PCL, NVDR		114,000		26,162
Minor International PCL, NVDR(a)		41,000		23,974
Muangthai Capital PCL, NVDR(a)		10,000		17,526
Osotspa PCL, NVDR		12,000		16,033
PTT Exploration & Production PCL, NVDR		19,000		50,173
PTT Global Chemical PCL, NVDR		31,000		41,905
PTT PCL, NVDR		150,000		167,400
Ratch Group PCL, NVDR		14,000		30,808
Siam Cement PCL (The), NVDR		9,000		97,045

Security	Shares		Value
Thailand (continued)
Siam Commercial Bank PCL (The), NVDR		12,000	$	27,916
Srisawad Corp PCL, NVDR(a)		14,000		25,086
Thai Oil PCL, NVDR		23,000		31,091
Thai Union Group PCL, NVDR		66,000		28,425
True Corp. PCL, NVDR		168,000		19,541
				1,618,780
Turkey — 0.7%
Akbank T.A.S.(a)		37,310		31,121
Anadolu Efes Biracilik Ve Malt Sanayii AS(a)		2,796		7,599
Aselsan Elektronik Sanayi Ve Ticaret AS		2,550		11,282
BIM Birlesik Magazalar AS		6,120		58,405
Eregli Demir ve Celik Fabrikalari TAS		24,230		28,594
Haci Omer Sabanci Holding AS		11,405		13,877
KOC Holding AS		12,150		28,747
Tupras Turkiye Petrol Rafinerileri AS(a)		1,780		22,363
Turk Hava Yollari AO(a)		9,270		17,123
Turkcell Iletisim Hizmetleri AS		15,980		33,171
Turkiye Garanti Bankasi AS(a)		32,530		37,292
Turkiye Is Bankasi AS, Class C(a)		10,740		7,793
				297,367
United Arab Emirates — 1.0%
Abu Dhabi Commercial Bank PJSC		30,680		36,751
Aldar Properties PJSC		66,610		31,372
DP World PLC		2,730		42,998
Dubai Islamic Bank PJSC		21,330		20,615
Emaar Malls PJSC(a)		30,530		10,971
Emaar Properties PJSC(a)		48,440		32,969
Emirates NBD Bank PJSC		13,080		30,767
Emirates Telecommunications Group Co. PJSC		21,240		90,438
First Abu Dhabi Bank PJSC		34,120		102,923
				399,804
Total Common Stocks — 82.7% (Cost: $35,157,525)				33,283,850
Investment Companies
India — 13.4%
iShares MSCI India ETF(d)		196,434		5,399,971
Total Investment Companies — 13.4% (Cost: $6,113,091)				5,399,971
Preferred Stocks
Brazil — 2.3%
Banco Bradesco SA, Preference Shares, NVS		57,204		199,593
Braskem SA, Class A, Preference Shares, NVS		1,211		6,185
Centrais Eletricas Brasileiras SA, Class B, Preference Shares, NVS		2,000		11,305
Cia. Energetica de Minas Gerais, Preference Shares, NVS		8,008		15,924
Gerdau SA, Preference Shares, NVS		15,000		37,092
Itau Unibanco Holding SA, Preference Shares, NVS		61,000		258,776
Itausa-Investimentos Itau SA, Preference Shares, NVS		57,034		93,042
Lojas Americanas SA, Preference Shares, NVS		10,057		52,312
Petroleo Brasileiro SA, Preference Shares, NVS		55,000		205,981
Telefonica Brasil SA, Preference Shares, NVS		6,000		52,078
				932,288
Chile — 0.2%
Embotelladora Andina SA, Class B, Preference Shares		10,740		25,623

5

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

Security	Shares		Value
Chile (continued)
Sociedad Quimica y Minera de Chile SA, Series B, Preference Shares		1,540	$	37,580
				63,203
Colombia — 0.1%
Bancolombia SA, Preference Shares, NVS		4,610		30,543
Russia — 0.1%
Surgutneftegas PJSC, Preference Shares, NVS		94,000		47,119
South Korea — 0.9%
Hyundai Motor Co.
Preference Shares, NVS		280		12,729
Series 2, Preference Shares, NVS		250		12,152
Samsung Electronics Co. Ltd., Preference Shares, NVS		10,410		360,183
				385,064
Total Preferred Stocks — 3.6% (Cost: $1,870,925)				1,458,217
Rights
Brazil — 0.0%
Natura & Co. Holding SA, (Expires 06/12/20)(a)		294		270
Total Rights — 0.0% (Cost: $0)				270

Security	Shares		Value
Short-Term Investments
Money Market Funds — 0.1%
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.16%(d)(e)		30,000	$	30,000
Total Short-Term Investments — 0.1% (Cost: $30,000)				30,000
Total Investments in Securities — 99.8% (Cost: $43,171,541)				40,172,308
Other Assets, Less Liabilities — 0.2%				66,049
Net Assets — 100.0%			$	40,238,357

^(a)  Non-income producing security.

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

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

^(d)  Affiliate of the Fund.

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

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		Shares Purchased		Shares Sold			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: Treasury, SL Agency Shares		73,000		—		(43,000	)(b)		30,000	$	30,000	$	450	$	—		$	—
iShares MSCI India ETF		109,842		110,109		(23,517	)		196,434		5,399,971		3,818		(79,535	)		(466,837	)
										$	5,429,971	$	4,268	$	(79,535	)	$	(466,837	)

^(a)  Includes realized capital gain distributions from an affiliated fund, if any. (b) Net of purchases and sales.

Fair Value Measurements

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

6

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

Fair Value Measurements (continued)

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of May 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
Common Stocks	$	31,285,096	$	1,998,754	$	—	$	33,283,850
Investment Companies		5,399,971		—		—		5,399,971
Preferred Stocks		1,458,217		—		—		1,458,217
Rights		270		—		—		270
Money Market Funds		30,000		—		—		30,000
	$	38,173,554	$	1,998,754	$	—	$	40,172,308

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

7