Schedule of Investments  (unaudited) July 31, 2020 iShares^® J.P. Morgan EM Local Currency Bond ETF (Percentages shown are based on Net Assets)

Security	Par (000)			Value
Foreign Government Obligations
Brazil — 7.4%
Brazil Letras do Tesouro Nacional
0.00%, 01/01/22(a)		BRL	17,524	$	3,239,590
0.00%, 07/01/22(a)		BRL	15,000		2,708,067
0.00%, 07/01/23(a)		BRL	30,000		5,104,403
0.00%, 01/01/24(a)		BRL	22,000		3,611,164
Brazil Notas do Tesouro Nacional
Series F, 10.00%, 01/01/23		BRL	26,557		5,810,561
Series F, 10.00%, 01/01/25		BRL	24,399		5,564,026
Series F, 10.00%, 01/01/27		BRL	17,193		3,992,504
Series F, 10.00%, 01/01/29		BRL	9,263		2,190,413
Series F, 10.00%, 01/01/31		BRL	1,000		238,852
Brazilian Government International Bond
8.50%, 01/05/24		BRL	500		108,173
10.25%, 01/10/28		BRL	1,420		326,219
12.50%, 01/05/22		BRL	707		154,187
					33,048,159
Chile — 4.4%
Bonos de la Tesoreria de la Republica en pesos
2.50%, 03/01/25		CLP	1,150,000		1,601,499
4.00%, 03/01/23(b)(c)		CLP	1,460,000		2,103,658
4.50%, 03/01/26		CLP	2,700,000		4,134,513
4.70%, 09/01/30(b)(c)		CLP	2,225,000		3,533,436
5.00%, 03/01/35		CLP	2,650,000		4,397,656
6.00%, 01/01/43		CLP	2,090,000		4,123,061
					19,893,823
China — 7.4%
China Government Bond
1.99%, 04/09/25		CNY	12,510		1,738,027
2.68%, 05/21/30		CNY	13,620		1,903,547
2.85%, 06/04/27		CNY	5,650		803,090
2.94%, 10/17/24		CNY	16,470		2,380,515
3.12%, 12/05/26		CNY	18,900		2,731,970
3.13%, 11/21/29		CNY	28,130		4,052,988
3.19%, 04/11/24		CNY	20,830		3,034,414
3.22%, 12/06/25		CNY	25,410		3,712,118
3.25%, 06/06/26		CNY	20,680		3,018,174
3.25%, 11/22/28		CNY	22,650		3,290,829
3.29%, 10/18/23		CNY	22,730		3,327,910
3.29%, 05/23/29		CNY	20,990		3,060,381
					33,053,963
Colombia — 4.2%
Colombia Government International Bond, 9.85%, 06/28/27		COP	745,000		250,664
Colombian TES
5.75%, 11/03/27		COP	2,105,500		584,539
6.00%, 04/28/28		COP	11,091,900		3,109,346
6.25%, 11/26/25		COP	5,636,100		1,659,852
7.00%, 05/04/22		COP	10,139,900		2,915,527
7.00%, 06/30/32		COP	6,515,700		1,829,962
7.25%, 10/18/34		COP	5,940,800		1,678,410
7.50%, 08/26/26		COP	8,400,400		2,602,535
7.75%, 09/18/30		COP	5,458,100		1,661,070
10.00%, 07/24/24		COP	8,136,400		2,709,231
					19,001,136
Czech Republic — 4.5%
Czech Republic Government Bond 0.25%, 02/10/27		CZK	34,860		1,513,549

Security	Par (000)			Value
Czech Republic (continued)
0.45%, 10/25/23(c)		CZK	33,060	$	1,489,402
0.95%, 05/15/30(c)		CZK	37,660		1,704,776
1.00%, 06/26/26(c)		CZK	46,880		2,143,520
1.20%, 03/13/31		CZK	22,790		1,053,529
2.00%, 10/13/33		CZK	38,550		1,951,755
2.40%, 09/17/25(c)		CZK	39,750		1,946,234
2.50%, 08/25/28(c)		CZK	43,880		2,230,181
2.75%, 07/23/29		CZK	31,470		1,650,446
3.85%, 09/29/21(c)		CZK	32,750		1,539,948
4.70%, 09/12/22(c)		CZK	27,780		1,371,290
5.70%, 05/25/24(c)		CZK	30,480		1,647,603
					20,242,233
Dominican Republic — 4.3%
Dominican Republic International Bond
8.90%, 02/15/23(c)		DOP	529,750		8,869,710
9.75%, 06/05/26(c)		DOP	639,250		10,663,539
					19,533,249
Hungary — 4.5%
Hungary Government Bond
1.75%, 10/26/22		HUF	579,510		2,035,032
2.50%, 10/27/21		HUF	216,210		761,338
2.50%, 10/24/24		HUF	622,510		2,256,194
2.75%, 12/22/26		HUF	557,540		2,063,423
3.00%, 06/26/24		HUF	442,420		1,628,819
3.00%, 10/27/27		HUF	607,770		2,278,386
3.00%, 08/21/30		HUF	487,340		1,808,150
3.25%, 10/22/31		HUF	240,370		913,039
5.50%, 06/24/25		HUF	512,500		2,116,451
6.00%, 11/24/23		HUF	429,590		1,711,765
6.75%, 10/22/28		HUF	282,400		1,331,089
7.00%, 06/24/22		HUF	325,530		1,253,459
					20,157,145
Indonesia — 7.9%
Indonesia Treasury Bond
5.63%, 05/15/23		IDR	20,533,000		1,420,434
6.13%, 05/15/28		IDR	23,496,000		1,547,356
6.50%, 06/15/25		IDR	34,793,000		2,436,702
6.63%, 05/15/33		IDR	16,767,000		1,085,261
7.00%, 05/15/22		IDR	21,359,000		1,517,074
7.00%, 05/15/27		IDR	22,863,000		1,599,627
7.00%, 09/15/30		IDR	38,339,000		2,661,409
7.50%, 08/15/32		IDR	7,610,000		531,657
7.50%, 06/15/35		IDR	11,967,000		837,895
7.50%, 05/15/38		IDR	15,632,000		1,076,038
8.13%, 05/15/24		IDR	21,224,000		1,564,180
8.25%, 05/15/29		IDR	22,717,000		1,698,329
8.25%, 06/15/32		IDR	8,396,000		616,761
8.25%, 05/15/36		IDR	20,595,000		1,516,413
8.38%, 03/15/24		IDR	27,875,000		2,065,805
8.38%, 09/15/26		IDR	24,637,000		1,856,212
8.38%, 03/15/34		IDR	37,324,000		2,782,683
8.38%, 04/15/39		IDR	18,883,000		1,407,818
8.75%, 05/15/31		IDR	16,167,000		1,240,208
9.00%, 03/15/29		IDR	25,574,000		1,981,109
9.50%, 07/15/31		IDR	5,720,000		458,384
10.50%, 08/15/30		IDR	6,985,000		593,247
11.00%, 09/15/25		IDR	8,194,000		676,286
Perusahaan Penerbit SBSN Indonesia 6.63%, 10/15/24		IDR	11,181,000		784,489

1

Schedule of Investments  (unaudited) (continued) July 31, 2020 iShares^® J.P. Morgan EM Local Currency Bond ETF (Percentages shown are based on Net Assets)

Security	Par (000)			Value
Indonesia (continued)
8.25%, 09/15/23		IDR	8,832,000	$	639,282
8.88%, 11/15/31		IDR	13,500,000		1,023,766
					35,618,425
Malaysia — 4.4%
Malaysia Government Bond
3.48%, 03/15/23		MYR	3,759		920,611
3.48%, 06/14/24		MYR	1,666		413,455
3.50%, 05/31/27		MYR	6,599		1,677,064
3.62%, 11/30/21		MYR	2,340		564,446
3.73%, 06/15/28		MYR	2,777		716,355
3.76%, 04/20/23		MYR	1,950		481,205
3.80%, 08/17/23		MYR	2,620		650,250
3.83%, 07/05/34		MYR	2,042		527,973
3.89%, 08/15/29		MYR	6,179		1,613,608
3.90%, 11/30/26		MYR	1,355		350,494
3.90%, 11/16/27		MYR	3,857		1,006,777
3.91%, 07/15/26		MYR	2,014		519,056
3.96%, 09/15/25		MYR	5,406		1,386,626
4.06%, 09/30/24		MYR	3,201		813,650
4.18%, 07/15/24		MYR	3,282		835,555
4.76%, 04/07/37		MYR	3,424		961,486
Malaysia Government Investment Issue
3.47%, 10/15/30		MYR	1,201		304,881
3.66%, 10/15/24		MYR	2,142		536,921
3.73%, 03/31/26		MYR	2,700		687,577
3.95%, 04/14/22		MYR	2,154		525,246
4.09%, 11/30/23		MYR	2,600		653,219
4.13%, 08/15/25		MYR	3,955		1,019,952
4.13%, 07/09/29		MYR	3,126		825,183
4.26%, 07/26/27		MYR	2,796		741,039
4.37%, 10/31/28		MYR	3,793		1,014,109
					19,746,738
Mexico — 7.6%
Mexican Bonos
6.75%, 03/09/23		MXN	29,300		1,387,961
7.25%, 12/09/21		MXN	43,480		2,029,676
7.50%, 06/03/27		MXN	59,885		3,016,416
8.50%, 05/31/29		MXN	57,900		3,108,844
8.50%, 11/18/38		MXN	39,505		2,142,878
10.00%, 12/05/24		MXN	56,923		3,070,798
10.00%, 11/20/36		MXN	20,123		1,235,182
Series M, 5.75%, 03/05/26		MXN	52,162		2,411,434
Series M, 6.50%, 06/09/22		MXN	74,923		3,493,944
Series M, 7.75%, 05/29/31		MXN	40,507		2,084,827
Series M, 7.75%, 11/23/34		MXN	19,000		977,900
Series M, 7.75%, 11/13/42		MXN	43,840		2,192,178
Series M, 8.00%, 12/07/23		MXN	48,615		2,409,744
Series M, 8.00%, 09/05/24		MXN	56,100		2,818,651
Series M, 8.00%, 11/07/47		MXN	34,151		1,745,169
					34,125,602
Peru — 4.4%
Peru Government Bond
5.35%, 08/12/40(b)(c)		PEN	3,752		1,102,495
5.40%, 08/12/34(b)(c)		PEN	5,180		1,600,082
5.70%, 08/12/24		PEN	2,714		900,764
5.94%, 02/12/29(b)(c)		PEN	7,807		2,652,083
6.15%, 08/12/32(b)(c)		PEN	7,061		2,371,629
6.35%, 08/12/28		PEN	8,181		2,841,046
6.90%, 08/12/37		PEN	8,542		2,994,538

Security	Par (000)			Value
Peru (continued)
6.95%, 08/12/31		PEN	8,398	$	3,011,930
8.20%, 08/12/26		PEN	6,186		2,332,795
					19,807,362
Philippines — 4.5%
Philippine Government International Bond
3.90%, 11/26/22		PHP	309,000		6,369,242
6.25%, 01/14/36		PHP	530,000		13,828,916
					20,198,158
Poland — 4.8%
Republic of Poland Government Bond
2.25%, 04/25/22		PLN	7,776		2,161,918
2.25%, 10/25/24		PLN	5,744		1,654,295
2.50%, 01/25/23		PLN	6,817		1,935,099
2.50%, 04/25/24		PLN	5,487		1,586,674
2.50%, 07/25/26		PLN	8,746		2,568,593
2.50%, 07/25/27		PLN	6,668		1,967,780
2.75%, 04/25/28		PLN	6,300		1,891,933
2.75%, 10/25/29		PLN	5,719		1,741,041
3.25%, 07/25/25		PLN	5,929		1,789,433
4.00%, 10/25/23		PLN	5,587		1,676,272
5.75%, 10/25/21		PLN	3,375		967,636
5.75%, 09/23/22		PLN	4,932		1,481,576
					21,422,250
Romania — 4.5%
Romania Government Bond
3.25%, 04/29/24		RON	5,565		1,344,887
3.40%, 03/08/22		RON	5,355		1,311,844
3.50%, 12/19/22		RON	6,225		1,525,674
3.65%, 09/24/31		RON	2,650		611,737
4.00%, 10/27/21		RON	5,745		1,418,620
4.25%, 06/28/23		RON	6,280		1,566,376
4.40%, 09/25/23		RON	2,520		632,728
4.50%, 06/17/24		RON	5,775		1,456,786
4.75%, 02/24/25		RON	8,000		2,030,532
4.85%, 04/22/26		RON	7,680		1,972,790
5.00%, 02/12/29		RON	8,605		2,249,868
5.80%, 07/26/27		RON	8,060		2,193,445
5.85%, 04/26/23		RON	6,500		1,685,636
					20,000,923
Russia — 4.4%
Russian Federal Bond — OFZ
6.00%, 10/06/27		RUB	76,886		1,062,930
6.50%, 02/28/24		RUB	48,482		689,739
6.90%, 05/23/29		RUB	54,154		787,611
7.00%, 12/15/21		RUB	61,167		852,625
7.00%, 01/25/23		RUB	45,284		645,585
7.00%, 08/16/23		RUB	42,159		605,755
7.05%, 01/19/28		RUB	59,753		877,062
7.10%, 10/16/24		RUB	74,677		1,091,670
7.15%, 11/12/25		RUB	62,129		914,030
7.25%, 05/10/34		RUB	85,094		1,270,118
7.40%, 12/07/22		RUB	76,477		1,096,477
7.40%, 07/17/24		RUB	74,913		1,102,166
7.60%, 07/20/22		RUB	88,509		1,263,009
7.65%, 04/10/30		RUB	49,893		759,564
7.70%, 03/23/33		RUB	100,764		1,553,025
7.70%, 03/16/39		RUB	44,785		703,609
7.75%, 09/16/26		RUB	82,744		1,260,240
7.95%, 10/07/26		RUB	66,927		1,028,356

2

Schedule of Investments  (unaudited) (continued) July 31, 2020 iShares^® J.P. Morgan EM Local Currency Bond ETF (Percentages shown are based on Net Assets)

Security	Par (000)			Value
Russia (continued)
8.15%, 02/03/27		RUB	74,310	$	1,153,714
8.50%, 09/17/31		RUB	58,340		948,989
					19,666,274
South Africa — 4.6%
Republic of South Africa Government Bond
6.25%, 03/31/36		ZAR	19,688		766,340
6.50%, 02/28/41		ZAR	18,316		681,686
7.00%, 02/28/31		ZAR	22,759		1,099,495
7.75%, 02/28/23		ZAR	28,071		1,769,328
8.00%, 01/31/30		ZAR	45,799		2,481,195
8.25%, 03/31/32		ZAR	29,169		1,489,982
8.50%, 01/31/37		ZAR	32,743		1,544,805
8.75%, 01/31/44		ZAR	36,079		1,647,529
8.75%, 02/28/48		ZAR	55,004		2,497,755
8.88%, 02/28/35		ZAR	30,683		1,539,748
9.00%, 01/31/40		ZAR	21,549		1,029,860
10.50%, 12/21/26		ZAR	57,557		3,884,205
					20,431,928
Thailand — 5.6%
Thailand Government Bond
1.45%, 12/17/24		THB	34,493		1,129,925
1.60%, 12/17/29		THB	9,060		297,942
1.60%, 06/17/35		THB	17,785		572,093
1.88%, 06/17/22		THB	40,106		1,307,314
2.00%, 12/17/22		THB	46,016		1,513,642
2.13%, 12/17/26		THB	47,951		1,636,483
2.40%, 12/17/23		THB	50,407		1,697,627
2.88%, 12/17/28		THB	30,629		1,106,083
2.88%, 06/17/46		THB	39,316		1,460,597
3.30%, 06/17/38		THB	41,555		1,626,400
3.40%, 06/17/36		THB	42,169		1,669,957
3.63%, 06/16/23		THB	41,163		1,422,886
3.65%, 12/17/21		THB	51,267		1,699,930
3.65%, 06/20/31		THB	48,527		1,897,860
3.78%, 06/25/32		THB	58,827		2,354,362
3.85%, 12/12/25		THB	50,450		1,857,834
4.26%, 12/12/37(c)		THB	470		19,905
4.88%, 06/22/29		THB	46,725		1,952,879
					25,223,719
Turkey — 3.9%
Turkey Government Bond
7.10%, 03/08/23		TRY	11,320		1,449,161
8.00%, 03/12/25		TRY	8,298		1,016,881

Security	Par/ Shares (000)			Value
Turkey (continued)
8.50%, 09/14/22		TRY	7,662	$	1,041,250
9.00%, 07/24/24		TRY	10,261		1,336,378
9.20%, 09/22/21		TRY	6,779		958,889
9.50%, 01/12/22		TRY	5,051		706,632
10.40%, 03/20/24		TRY	4,792		654,347
10.50%, 08/11/27		TRY	8,925		1,148,952
10.60%, 02/11/26		TRY	12,987		1,738,838
10.70%, 08/17/22		TRY	9,501		1,336,769
11.00%, 03/02/22		TRY	11,067		1,576,130
11.00%, 02/24/27		TRY	10,733		1,424,762
12.20%, 01/18/23		TRY	8,954		1,292,522
12.40%, 03/08/28		TRY	7,471		1,055,435
16.20%, 06/14/23		TRY	5,427		854,542
					17,591,488
Uruguay — 4.5%
Uruguay Government International Bond
8.50%, 03/15/28(c)		UYU	401,435		9,244,966
9.88%, 06/20/22(c)		UYU	449,649		10,756,798
					20,001,764
Total Foreign Government Obligations — 97.8% (Cost: $450,081,489)					438,764,339
Short-Term Investments
Money Market Funds — 0.0%
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.12%(d)(e)			190		190,000
Total Short-Term Investments — 0.0% (Cost: $190,000)					190,000
Total Investments in Securities — 97.8% (Cost: $450,271,489)					438,954,339
Other Assets, Less Liabilities — 2.2%					9,705,874
Net Assets — 100.0%				$	448,660,213

^(a)  Zero-coupon bond.

^(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 affiliate(s) of the Fund during the period ended July 31, 2020, for purposes of Section 2(a)(3) of the Investment CompanyAct of 1940, as amended, were as follows:

Affiliated Issuer		Value at 10/31/19		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value at 07/31/20	Shares Held at 07/31/20 (000)		Income		Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Treasury, SL Agency Shares	$	6,933,000	$	—	$	(6,743,000	)(a)	$	—	$	—	$	190,000	190	$	21,771	$	—

^(a)  Represents net amount purchased (sold).

3

Schedule of Investments  (unaudited) (continued) July 31, 2020 iShares^® J.P. Morgan EM Local Currency Bond ETF

Fair Value Measurements

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

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of July 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
Foreign Government Obligations	$	—	$	438,764,339	$	—	$	438,764,339
Money Market Funds		190,000		—		—		190,000
	$	190,000	$	438,764,339	$	—	$	438,954,339

Currency Abbreviations
BRL	Brazilian Real
CLP	Chilean Peso
CNY	Chinese Yuan
COP	Colombian Peso
CZK	Czech Koruna
DOP	Dominican Peso
HUF	Hungarian Forint
IDR	Indonesian Rupiah
MXN	Mexican Peso
MYR	Malaysian Ringgit
PEN	Peru Nuevo Sol
PHP	Philippine Peso
PLN	Polish Zloty
RON	Romanian Leu
RUB	New Russian Ruble
THB	Thai Baht
TRY	Turkish Lira
UYU	Uruguayan Peso
ZAR	South African Rand

4