| Schedule of Investments (unaudited) | iShares® MSCI Global Min Vol Factor ETF |
| May 31, 2021 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Common Stocks | ||||||||
| Australia — 0.3% | ||||||||
| Woolworths Group Ltd. | 562,953 | $ | 18,086,906 | |||||
| Belgium — 0.2% | ||||||||
| Etablissements Franz Colruyt NV | 88,052 | 5,342,551 | ||||||
| Proximus SADP | 245,919 | 4,976,059 | ||||||
| 10,318,610 | ||||||||
| Canada — 3.1% | ||||||||
| Agnico Eagle Mines Ltd. | 265,732 | 18,809,439 | ||||||
| BCE Inc. | 117,531 | 5,819,879 | ||||||
| CGI Inc.(a) | 177,179 | 15,740,118 | ||||||
| Empire Co. Ltd., Class A, NVS | 106,399 | 3,564,395 | ||||||
| Franco-Nevada Corp. | 308,519 | 45,560,854 | ||||||
| Intact Financial Corp. | 126,809 | 17,135,302 | ||||||
| Loblaw Companies Ltd. | 151,054 | 9,224,166 | ||||||
| Metro Inc. | 115,056 | 5,516,364 | ||||||
| TELUS Corp. | 691,940 | 15,522,184 | ||||||
| Thomson Reuters Corp. | 146,008 | 14,114,328 | ||||||
| Waste Connections Inc. | 118,264 | 14,361,980 | ||||||
| 165,369,009 | ||||||||
| China — 5.0% | ||||||||
| Agricultural Bank of China Ltd., Class A | 7,915,799 | 4,059,224 | ||||||
| Agricultural Bank of China Ltd., Class H | 6,684,000 | 2,712,093 | ||||||
| Alibaba Group Holding Ltd.(a) | 131,080 | 3,566,654 | ||||||
| Alibaba Group Holding Ltd., ADR(a) | 4,096 | 876,380 | ||||||
| Anhui Conch Cement Co. Ltd., Class A | 423,900 | 3,272,038 | ||||||
| Bank of Communications Co. Ltd., Class A | 3,807,400 | 2,934,280 | ||||||
| Bank of Communications Co. Ltd., Class H | 5,669,000 | 3,821,040 | ||||||
| Baoshan Iron & Steel Co. Ltd., Class A | 2,151,000 | 2,673,555 | ||||||
| BeiGene Ltd., ADR(a)(b) | 36,234 | 12,990,251 | ||||||
| Beijing-Shanghai High Speed Railway Co. Ltd., Class A | 3,923,700 | 3,569,436 | ||||||
| Changchun High & New Technology Industry Group Inc., Class A | 39,100 | 2,526,298 | ||||||
| China Conch Venture Holdings Ltd. | 1,863,500 | 8,580,767 | ||||||
| China Construction Bank Corp., Class H | 11,339,000 | 9,313,309 | ||||||
| China Feihe Ltd.(c) | 1,121,000 | 3,140,803 | ||||||
| China Huishan Dairy Holdings Co. Ltd.(a)(d) | 2,093,055 | 3 | ||||||
| China Meidong Auto Holdings Ltd. | 508,000 | 2,679,019 | ||||||
| China Tourism Group Duty Free Corp. Ltd., Class A | 189,400 | 9,984,833 | ||||||
| China Tower Corp. Ltd., Class H(c) | 36,680,000 | 5,011,419 | ||||||
| China Yangtze Power Co. Ltd., Class A | 2,204,200 | 6,883,192 | ||||||
| Chongqing Zhifei Biological Products Co. Ltd., Class A | 154,500 | 4,748,941 | ||||||
| Chow Tai Fook Jewellery Group Ltd. | 1,495,200 | 2,868,937 | ||||||
| CITIC Securities Co. Ltd., Class A | 673,800 | 2,768,283 | ||||||
| COSCO SHIPPING Holdings Co. Ltd., Class A(a) | 934,900 | 3,151,208 | ||||||
| Country Garden Services Holdings Co. Ltd. | 949,000 | 9,849,792 | ||||||
| East Money Information Co. Ltd., Class A | 529,900 | 2,655,569 | ||||||
| Guangdong Investment Ltd. | 1,767,147 | 2,597,014 | ||||||
| Hansoh Pharmaceutical Group Co. Ltd.(a)(c) | 1,914,000 | 8,344,327 | ||||||
| I-Mab, ADR(a) | 49,803 | 4,037,529 | ||||||
| Industrial & Commercial Bank of China Ltd., Class A. | 6,098,551 | 4,998,122 | ||||||
| Industrial & Commercial Bank of China Ltd., Class H | 11,947,000 | 7,843,318 | ||||||
| Jiangsu Hengrui Medicine Co. Ltd., Class A | 517,200 | 7,026,653 | ||||||
| Lenovo Group Ltd. | 4,048,000 | 4,855,333 | ||||||
| LONGi Green Energy Technology Co. Ltd., Class A. | 193,600 | 3,114,957 | ||||||
| Microport Scientific Corp. | 363,000 | 3,036,926 | ||||||
| Perennial Energy Holdings Ltd. | 1,290,000 | 500,814 | ||||||
| Ping An Bank Co. Ltd., Class A | 1,874,400 | 7,135,914 | ||||||
| Postal Savings Bank of China Co. Ltd., Class H(c) | 12,854,000 | 9,263,824 | ||||||
| Security | Shares | Value | ||||||
| China (continued) | ||||||||
| SF Holding Co. Ltd., Class A | 408,500 | $ | 4,473,389 | |||||
| Shenzhen International Holdings Ltd. | 1,800,000 | 2,738,088 | ||||||
| Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A | 117,800 | 8,963,091 | ||||||
| Tencent Holdings Ltd. | 189,900 | 15,278,496 | ||||||
| Will Semiconductor Co. Ltd. Shanghai, Class A. | 83,800 | 3,977,628 | ||||||
| WuXi AppTec Co. Ltd., Class A | 154,320 | 4,062,166 | ||||||
| Wuxi Biologics Cayman Inc., New(a)(c) | 498,000 | 7,789,028 | ||||||
| Xiaomi Corp., Class B(a)(c) | 5,137,200 | 19,397,917 | ||||||
| Yadea Group Holdings Ltd.(c) | 1,288,000 | 2,869,913 | ||||||
| Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A | 58,300 | 3,523,305 | ||||||
| ZTO Express Cayman Inc., ADR. | 408,649 | 13,113,546 | ||||||
| 263,578,622 | ||||||||
| Denmark — 1.4% | ||||||||
| Coloplast A/S, Class B | 192,066 | 30,195,694 | ||||||
| Novo Nordisk A/S, Class B | 514,744 | 40,626,133 | ||||||
| Tryg A/S | 214,924 | 5,045,862 | ||||||
| 75,867,689 | ||||||||
| Finland — 0.3% | ||||||||
| Elisa OYJ | 229,953 | 13,531,285 | ||||||
| France — 1.1% | ||||||||
| Eurofins Scientific SE(a) | 58,115 | 6,253,845 | ||||||
| Hermes International | 22,967 | 32,236,353 | ||||||
| Orange SA | 1,510,450 | 19,153,943 | ||||||
| 57,644,141 | ||||||||
| Germany — 1.3% | ||||||||
| Deutsche Telekom AG, Registered. | 2,689,693 | 55,683,374 | ||||||
| HelloFresh SE(a) | 83,803 | 7,629,576 | ||||||
| Telefonica Deutschland Holding AG | 1,683,078 | 4,586,707 | ||||||
| 67,899,657 | ||||||||
| Hong Kong — 2.5% | ||||||||
| CLP Holdings Ltd. | 1,602,254 | 16,286,219 | ||||||
| Hang Seng Bank Ltd.(b) | 1,231,100 | 25,607,763 | ||||||
| HK Electric Investments & HK Electric Investments Ltd. | 4,285,500 | 4,345,475 | ||||||
| HKT Trust & HKT Ltd. | 6,124,000 | 8,302,373 | ||||||
| Hong Kong & China Gas Co. Ltd.(b) | 11,809,886 | 20,546,289 | ||||||
| Jardine Matheson Holdings Ltd. | 337,900 | 21,900,261 | ||||||
| Link REIT | 1,463,200 | 13,935,943 | ||||||
| MTR Corp. Ltd.(b) | 2,508,500 | 13,967,373 | ||||||
| Power Assets Holdings Ltd. | 1,097,500 | 6,709,162 | ||||||
| Xinyi Glass Holdings Ltd. | 736,000 | 2,940,159 | ||||||
| 134,541,017 | ||||||||
| India — 3.4% | ||||||||
| ACC Ltd. | 120,921 | 3,309,475 | ||||||
| Adani Green Energy Ltd.(a) | 265,502 | 4,647,316 | ||||||
| Adani Total Gas Ltd.(a) | 238,079 | 4,423,824 | ||||||
| Adani Transmission Ltd.(a) | 126,037 | 2,562,423 | ||||||
| Ambuja Cements Ltd. | 1,118,780 | 5,051,890 | ||||||
| Asian Paints Ltd. | 457,271 | 18,772,134 | ||||||
| Avenue Supermarts Ltd.(a)(c) | 131,337 | 5,562,250 | ||||||
| Bajaj Auto Ltd.(a) | 68,228 | 3,939,470 | ||||||
| Bharat Petroleum Corp. Ltd. | 693,403 | 4,513,335 | ||||||
| Dabur India Ltd. | 857,401 | 6,411,095 | ||||||
| Dr. Reddy’s Laboratories Ltd. | 65,840 | 4,806,810 | ||||||
| Eicher Motors Ltd.(a) | 193,761 | 7,121,647 | ||||||
| HCL Technologies Ltd. | 962,180 | 12,550,080 | ||||||
| Hero MotoCorp Ltd. | 82,499 | 3,415,936 | ||||||
1
| Schedule of Investments (unaudited) (continued) | iShares® MSCI Global Min Vol Factor ETF |
| May 31, 2021 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| India (continued) | ||||||||
| Hindustan Petroleum Corp. Ltd. | 1,081,680 | $ | 4,162,612 | |||||
| Hindustan Unilever Ltd. | 168,709 | 5,446,667 | ||||||
| Indian Oil Corp. Ltd. | 3,043,673 | 4,589,560 | ||||||
| Infosys Ltd. | 550,691 | 10,583,966 | ||||||
| Ipca Laboratories Ltd. | 112,293 | 3,206,604 | ||||||
| Larsen & Toubro Infotech Ltd.(c) | 53,022 | 2,886,149 | ||||||
| Larsen & Toubro Ltd. | 215,987 | 4,381,004 | ||||||
| Maruti Suzuki India Ltd. | 40,700 | 3,969,541 | ||||||
| MRF Ltd. | 2,495 | 2,877,700 | ||||||
| Petronet LNG Ltd. | 1,220,821 | 4,076,069 | ||||||
| Pidilite Industries Ltd.(a) | 246,461 | 7,129,032 | ||||||
| Sun Pharmaceutical Industries Ltd. | 439,116 | 4,045,386 | ||||||
| Tata Consultancy Services Ltd. | 257,121 | 11,215,440 | ||||||
| Tech Mahindra Ltd. | 392,148 | 5,541,243 | ||||||
| UltraTech Cement Ltd. | 66,350 | 6,125,264 | ||||||
| Wipro Ltd. | 531,240 | 3,949,950 | ||||||
| Wipro Ltd., ADR | 1,058,230 | 8,391,764 | ||||||
| Yes Bank Ltd.(a) | 16,509,760 | 3,071,903 | ||||||
| 182,737,539 | ||||||||
| Ireland — 0.6% | ||||||||
| Horizon Therapeutics PLC(a) | 88,791 | 8,138,583 | ||||||
| Kerry Group PLC, Class A. | 156,256 | 21,046,649 | ||||||
| 29,185,232 | ||||||||
| Israel — 0.4% | ||||||||
| Azrieli Group Ltd. | 42,625 | 3,248,423 | ||||||
| Bank Hapoalim BM(a) | 459,821 | 3,899,800 | ||||||
| Bank Leumi Le-Israel BM(a) | 658,520 | 5,148,696 | ||||||
| Check Point Software Technologies Ltd.(a)(b) | 25,385 | 2,969,537 | ||||||
| Isracard Ltd.(a) | 0 | (e) | 1 | |||||
| Nice Ltd.(a)(b) | 22,042 | 4,781,229 | ||||||
| 20,047,686 | ||||||||
| Italy — 0.3% | ||||||||
| DiaSorin SpA | 40,702 | 7,172,564 | ||||||
| Infrastrutture Wireless Italiane SpA(c) | 206,114 | 2,299,811 | ||||||
| Recordati Industria Chimica e Farmaceutica SpA | 93,938 | 5,201,262 | ||||||
| 14,673,637 | ||||||||
| Japan — 10.9% | ||||||||
| ABC-Mart Inc. | 58,600 | 3,326,078 | ||||||
| Ajinomoto Co. Inc. | 227,900 | 5,209,844 | ||||||
| Asahi Intecc Co. Ltd. | 99,200 | 2,437,313 | ||||||
| Canon Inc. | 1,050,300 | 24,455,488 | ||||||
| Capcom Co. Ltd. | 263,000 | 8,620,065 | ||||||
| Chugai Pharmaceutical Co. Ltd. | 586,300 | 22,286,556 | ||||||
| East Japan Railway Co. | 75,100 | 5,219,940 | ||||||
| FUJIFILM Holdings Corp. | 185,500 | 12,828,886 | ||||||
| Hamamatsu Photonics KK. | 226,600 | 13,690,526 | ||||||
| Hankyu Hanshin Holdings Inc. | 82,800 | 2,569,622 | ||||||
| Hirose Electric Co. Ltd. | 52,200 | 7,380,804 | ||||||
| Japan Post Bank Co. Ltd. | 654,800 | 5,543,177 | ||||||
| Japan Post Holdings Co. Ltd. | 1,521,200 | 12,581,256 | ||||||
| Japan Tobacco Inc. | 122,400 | 2,403,171 | ||||||
| KDDI Corp. | 577,200 | 19,508,058 | ||||||
| Keio Corp. | 127,000 | 7,833,894 | ||||||
| Keyence Corp. | 56,300 | 27,467,931 | ||||||
| Kintetsu Group Holdings Co. Ltd.(a) | 179,800 | 6,295,318 | ||||||
| Kirin Holdings Co. Ltd. | 119,800 | 2,413,882 | ||||||
| Koei Tecmo Holdings Co. Ltd. | 94,700 | 4,459,012 | ||||||
| Lawson Inc. | 80,900 | 3,620,645 | ||||||
| McDonald’s Holdings Co. Japan Ltd.(b) | 118,200 | 5,326,468 | ||||||
| Security | Shares | Value | ||||||
| Japan (continued) | ||||||||
| MEIJI Holdings Co. Ltd. | 103,500 | $ | 6,394,907 | |||||
| Mizuho Financial Group Inc. | 1,028,200 | 15,618,880 | ||||||
| MonotaRO Co. Ltd. | 404,100 | 9,312,150 | ||||||
| NEC Corp. | 395,300 | 18,333,615 | ||||||
| Nexon Co. Ltd. | 468,200 | 11,016,387 | ||||||
| Nintendo Co. Ltd. | 31,600 | 19,489,481 | ||||||
| Nippon Paint Holdings Co. Ltd. | 168,100 | 2,412,242 | ||||||
| Nippon Prologis REIT Inc. | 3,339 | 10,321,789 | ||||||
| Nippon Telegraph & Telephone Corp. | 1,126,100 | 30,099,800 | ||||||
| Nissin Foods Holdings Co. Ltd. | 32,500 | 2,341,763 | ||||||
| Nitori Holdings Co. Ltd. | 82,400 | 14,180,373 | ||||||
| Nomura Research Institute Ltd. | 146,490 | 4,640,681 | ||||||
| NTT Data Corp. | 695,200 | 11,228,070 | ||||||
| Obic Co. Ltd. | 93,200 | 17,349,140 | ||||||
| Odakyu Electric Railway Co. Ltd. | 138,400 | 3,549,007 | ||||||
| Ono Pharmaceutical Co. Ltd. | 124,500 | 2,797,328 | ||||||
| Oracle Corp. Japan(a) | 62,100 | 5,616,077 | ||||||
| Oriental Land Co. Ltd. | 184,100 | 27,236,783 | ||||||
| Pan Pacific International Holdings Corp. | 547,900 | 10,737,764 | ||||||
| PeptiDream Inc.(a) | 89,600 | 4,166,850 | ||||||
| Rinnai Corp. | 58,400 | 5,656,368 | ||||||
| Secom Co. Ltd. | 299,800 | 23,312,911 | ||||||
| Seven & i Holdings Co. Ltd. | 77,400 | 3,326,982 | ||||||
| SG Holdings Co. Ltd. | 117,300 | 2,609,794 | ||||||
| Shimano Inc. | 56,100 | 12,645,315 | ||||||
| Shionogi & Co. Ltd. | 48,629 | 2,456,472 | ||||||
| Softbank Corp. | 2,136,300 | 27,275,349 | ||||||
| Suntory Beverage & Food Ltd. | 224,600 | 8,258,432 | ||||||
| Sysmex Corp. | 146,300 | 14,799,453 | ||||||
| Takeda Pharmaceutical Co. Ltd. | 118,600 | 4,004,273 | ||||||
| Tobu Railway Co. Ltd. | 305,200 | 7,716,566 | ||||||
| Toho Co. Ltd. | 159,600 | 6,567,813 | ||||||
| Toho Gas Co. Ltd. | 119,000 | 6,489,264 | ||||||
| Toyo Suisan Kaisha Ltd. | 143,400 | 5,727,990 | ||||||
| USS Co. Ltd. | 142,100 | 2,467,070 | ||||||
| Welcia Holdings Co. Ltd. | 160,800 | 4,894,762 | ||||||
| Yamada Holdings Co. Ltd. | 1,094,000 | 5,286,944 | ||||||
| 575,816,779 | ||||||||
| Kuwait — 0.2% | ||||||||
| Mobile Telecommunications Co. KSCP | 3,497,705 | 6,909,092 | ||||||
| National Bank of Kuwait SAKP | 1,193,936 | 3,298,247 | ||||||
| 10,207,339 | ||||||||
| Malaysia — 0.5% | ||||||||
| Hong Leong Bank Bhd(b) | 1,051,300 | 4,677,331 | ||||||
| IHH Healthcare Bhd. | 1,984,700 | 2,543,365 | ||||||
| Malayan Banking Bhd(b) | 2,992,000 | 5,918,130 | ||||||
| Maxis Bhd | 3,166,700 | 3,560,830 | ||||||
| Petronas Chemicals Group Bhd(b) | 1,691,300 | 3,290,757 | ||||||
| Public Bank Bhd | 6,667,000 | 6,790,075 | ||||||
| 26,780,488 | ||||||||
| Netherlands — 0.5% | ||||||||
| Koninklijke Ahold Delhaize NV | 616,174 | 17,780,210 | ||||||
| Koninklijke KPN NV | 1,705,770 | 5,660,464 | ||||||
| QIAGEN NV(a) | 90,137 | 4,423,015 | ||||||
| 27,863,689 | ||||||||
| New Zealand — 0.2% | ||||||||
| Fisher & Paykel Healthcare Corp. Ltd. | 186,214 | 4,019,933 | ||||||
| Spark New Zealand Ltd. | 1,776,504 | 5,827,532 | ||||||
| 9,847,465 | ||||||||
2
| Schedule of Investments (unaudited) (continued) | iShares® MSCI Global Min Vol Factor ETF |
| May 31, 2021 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Norway — 0.2% | ||||||||
| Telenor ASA | 632,494 | $ | 10,923,063 | |||||
| Peru — 0.0% | ||||||||
| Credicorp Ltd. | 18,349 | 2,522,437 | ||||||
| Philippines — 0.2% | ||||||||
| BDO Unibank Inc. | 2,695,769 | 5,847,430 | ||||||
| PLDT Inc. | 122,265 | 3,363,742 | ||||||
| 9,211,172 | ||||||||
| Qatar — 0.2% | ||||||||
| Qatar Islamic Bank SAQ | 539,676 | 2,523,896 | ||||||
| Qatar National Bank QPSC | 2,162,519 | 10,347,260 | ||||||
| 12,871,156 | ||||||||
| Russia — 0.3% | ||||||||
| Polymetal International PLC | 235,072 | 5,574,429 | ||||||
| Polyus PJSC | 55,681 | 12,053,317 | ||||||
| 17,627,746 | ||||||||
| Saudi Arabia — 1.1% | ||||||||
| Alinma Bank | 1,584,382 | 8,490,171 | ||||||
| Bank AlBilad | 389,549 | 3,930,362 | ||||||
| Bank Al-Jazira | 649,586 | 3,207,359 | ||||||
| Jarir Marketing Co. | 95,063 | 5,329,651 | ||||||
| SABIC Agri-Nutrients Co. | 308,478 | 8,470,154 | ||||||
| Saudi Basic Industries Corp. | 121,840 | 4,048,896 | ||||||
| Saudi Telecom Co. | 636,750 | 21,204,180 | ||||||
| Yanbu National Petrochemical Co. | 187,513 | 3,488,275 | ||||||
| 58,169,048 | ||||||||
| Singapore — 0.6% | ||||||||
| Oversea-Chinese Banking Corp. Ltd.(b) | 517,800 | 4,836,577 | ||||||
| Singapore Exchange Ltd. | 500,400 | 3,905,206 | ||||||
| Singapore Telecommunications Ltd. | 11,400,500 | 20,754,470 | ||||||
| 29,496,253 | ||||||||
| South Korea — 0.3% | ||||||||
| NAVER Corp. | 12,024 | 3,906,318 | ||||||
| SK Telecom Co. Ltd. | 41,920 | 11,957,489 | ||||||
| 15,863,807 | ||||||||
| Sweden — 0.3% | ||||||||
| Telefonaktiebolaget LM Ericsson, Class B | 898,778 | 11,905,506 | ||||||
| Telia Co. AB | 692,604 | 3,016,507 | ||||||
| 14,922,013 | ||||||||
| Switzerland — 6.4% | ||||||||
| Chocoladefabriken Lindt & Spruengli AG, Registered | 175 | 17,762,646 | ||||||
| EMS-Chemie Holding AG, Registered | 11,308 | 10,593,602 | ||||||
| Givaudan SA, Registered | 3,133 | 13,960,803 | ||||||
| Kuehne + Nagel International AG, Registered | 87,174 | 29,401,181 | ||||||
| Logitech International SA, Registered | 241,102 | 29,810,808 | ||||||
| Nestle SA, Registered. | 547,881 | 67,417,450 | ||||||
| Novartis AG, Registered. | 280,747 | 24,589,513 | ||||||
| Partners Group Holding AG | 7,785 | 11,810,809 | ||||||
| Roche Holding AG, Bearer | 24,223 | 9,056,206 | ||||||
| Roche Holding AG, NVS | 218,132 | 75,655,786 | ||||||
| Schindler Holding AG, Registered. | 27,149 | 7,839,816 | ||||||
| Sonova Holding AG, Registered(a) | 31,087 | 11,020,921 | ||||||
| Swiss Prime Site AG, Registered | 84,072 | 8,568,142 | ||||||
| Swisscom AG, Registered | 41,874 | 23,524,698 | ||||||
| 341,012,381 | ||||||||
| Taiwan — 4.7% | ||||||||
| Acer Inc. | 4,198,000 | 4,818,859 | ||||||
| Advantech Co. Ltd. | 623,482 | 7,413,724 | ||||||
| Security | Shares | Value | ||||||
| Taiwan (continued) | ||||||||
| Asustek Computer Inc. | 1,140,000 | $ | 16,213,738 | |||||
| AU Optronics Corp.(a) | 12,215,000 | 11,293,816 | ||||||
| Chang Hwa Commercial Bank Ltd. | 6,720,481 | 4,079,840 | ||||||
| China Development Financial Holding Corp. | 22,458,000 | 10,066,271 | ||||||
| China Steel Corp. | 8,848,000 | 11,779,462 | ||||||
| Chunghwa Telecom Co. Ltd. | 6,145,000 | 25,175,021 | ||||||
| Compal Electronics Inc. | 6,768,000 | 5,718,683 | ||||||
| CTBC Financial Holding Co. Ltd. | 3,864,000 | 3,207,721 | ||||||
| E.Sun Financial Holding Co. Ltd. | 9,043,490 | 8,323,575 | ||||||
| Evergreen Marine Corp. Taiwan Ltd.(a) | 1,153,000 | 4,092,554 | ||||||
| Far EasTone Telecommunications Co. Ltd. | 2,580,000 | 5,994,080 | ||||||
| First Financial Holding Co. Ltd. | 16,601,034 | 13,175,917 | ||||||
| Formosa Petrochemical Corp. | 816,000 | 2,938,403 | ||||||
| Hua Nan Financial Holdings Co. Ltd. | 13,507,074 | 8,887,344 | ||||||
| Inventec Corp. | 3,455,000 | 3,214,634 | ||||||
| Lite-On Technology Corp. | 3,420,000 | 8,161,921 | ||||||
| Mega Financial Holding Co. Ltd. | 17,589,000 | 20,986,084 | ||||||
| Nan Ya Plastics Corp. | 1,075,000 | 3,273,672 | ||||||
| Novatek Microelectronics Corp. | 519,000 | 9,966,636 | ||||||
| Quanta Computer Inc. | 4,107,000 | 13,284,848 | ||||||
| Synnex Technology International Corp. | 2,156,250 | 4,646,902 | ||||||
| Taishin Financial Holding Co. Ltd. | 9,429,084 | 5,029,511 | ||||||
| Taiwan Cooperative Financial Holding Co. Ltd. | 15,090,252 | 11,397,205 | ||||||
| Taiwan Mobile Co. Ltd. | 2,668,000 | 9,665,795 | ||||||
| Taiwan Semiconductor Manufacturing Co. Ltd. | 564,000 | 12,117,021 | ||||||
| WPG Holdings Ltd. | 2,577,760 | 4,816,948 | ||||||
| 249,740,185 | ||||||||
| Thailand — 0.5% | ||||||||
| Advanced Info Service PCL, NVDR | 719,600 | 3,878,240 | ||||||
| Airports of Thailand PCL, NVDR | 5,420,000 | 10,919,049 | ||||||
| Bangkok Dusit Medical Services PCL, NVDR | 7,639,600 | 5,273,717 | ||||||
| Bumrungrad Hospital PCL, NVDR | 706,600 | 2,981,243 | ||||||
| Home Product Center PCL, NVDR | 7,729,300 | 3,434,531 | ||||||
| 26,486,780 | ||||||||
| United Arab Emirates — 0.3% | ||||||||
| Abu Dhabi National Oil Co. for Distribution PJSC | 2,813,187 | 3,060,128 | ||||||
| Emirates Telecommunications Group Co. PJSC | 1,755,846 | 10,353,953 | ||||||
| 13,414,081 | ||||||||
| United Kingdom — 0.2% | ||||||||
| Admiral Group PLC | 94,264 | 3,925,122 | ||||||
| AstraZeneca PLC | 34,417 | 3,922,629 | ||||||
| 7,847,751 | ||||||||
| United States — 51.8% | ||||||||
| Abbott Laboratories | 94,912 | 11,071,485 | ||||||
| Accenture PLC, Class A | 39,912 | 11,261,570 | ||||||
| Activision Blizzard Inc. | 366,666 | 35,658,269 | ||||||
| Allstate Corp. (The) | 145,761 | 19,912,410 | ||||||
| Alphabet Inc., Class C, NVS(a) | 6,238 | 15,043,311 | ||||||
| Amazon.com Inc.(a) | 5,715 | 18,419,845 | ||||||
| Ameren Corp. | 66,370 | 5,588,354 | ||||||
| American Electric Power Co. Inc. | 191,004 | 16,426,344 | ||||||
| American Tower Corp. | 22,871 | 5,842,626 | ||||||
| American Water Works Co. Inc. | 98,878 | 15,328,068 | ||||||
| Amgen Inc. | 27,908 | 6,640,430 | ||||||
| Amphenol Corp., Class A | 208,182 | 14,002,321 | ||||||
| Anthem Inc. | 22,900 | 9,119,238 | ||||||
| Aon PLC, Class A | 86,084 | 21,811,103 | ||||||
| Arthur J Gallagher & Co. | 62,394 | 9,147,584 | ||||||
| AT&T Inc. | 649,233 | 19,106,927 | ||||||
3
| Schedule of Investments (unaudited) (continued) | iShares® MSCI Global Min Vol Factor ETF |
| May 31, 2021 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| United States (continued) | ||||||||
| Automatic Data Processing Inc. | 98,519 | $ | 19,311,694 | |||||
| AutoZone Inc.(a) | 13,619 | 19,156,485 | ||||||
| Baxter International Inc. | 164,494 | 13,508,247 | ||||||
| Berkshire Hathaway Inc., Class B(a) | 96,528 | 27,939,064 | ||||||
| Bio-Rad Laboratories Inc., Class A(a) | 6,204 | 3,737,103 | ||||||
| Black Knight Inc.(a) | 253,873 | 18,631,739 | ||||||
| Booz Allen Hamilton Holding Corp. | 135,027 | 11,467,843 | ||||||
| Bristol-Myers Squibb Co. | 102,130 | 6,711,984 | ||||||
| Broadridge Financial Solutions Inc. | 123,360 | 19,673,453 | ||||||
| Brown & Brown Inc. | 228,120 | 11,980,862 | ||||||
| Campbell Soup Co. | 157,763 | 7,678,325 | ||||||
| Cboe Global Markets Inc. | 82,412 | 9,172,456 | ||||||
| CH Robinson Worldwide Inc. | 216,348 | 20,990,083 | ||||||
| Church & Dwight Co. Inc. | 215,819 | 18,502,163 | ||||||
| Cisco Systems Inc. | 701,952 | 37,133,261 | ||||||
| Citrix Systems Inc. | 198,742 | 22,847,380 | ||||||
| Clorox Co. (The) | 139,349 | 24,627,149 | ||||||
| CME Group Inc. | 77,741 | 17,006,621 | ||||||
| CMS Energy Corp. | 134,102 | 8,413,559 | ||||||
| Cognizant Technology Solutions Corp., Class A | 44,249 | 3,166,458 | ||||||
| Colgate-Palmolive Co. | 174,204 | 14,594,811 | ||||||
| Comcast Corp., Class A | 300,377 | 17,223,617 | ||||||
| Consolidated Edison Inc. | 553,538 | 42,755,275 | ||||||
| Cooper Companies Inc. (The) | 11,649 | 4,583,299 | ||||||
| Costco Wholesale Corp. | 26,971 | 10,202,320 | ||||||
| Crown Castle International Corp. | 136,479 | 25,862,771 | ||||||
| Danaher Corp. | 76,196 | 19,516,843 | ||||||
| Dollar General Corp. | 201,390 | 40,874,114 | ||||||
| Dominion Energy Inc. | 342,764 | 26,098,051 | ||||||
| Domino’s Pizza Inc. | 8,177 | 3,490,516 | ||||||
| Duke Energy Corp. | 403,394 | 40,428,147 | ||||||
| Duke Realty Corp. | 223,044 | 10,362,624 | ||||||
| Electronic Arts Inc. | 211,832 | 30,277,148 | ||||||
| Eli Lilly & Co. | 244,147 | 48,765,922 | ||||||
| Erie Indemnity Co., Class A, NVS | 39,120 | 7,868,206 | ||||||
| Evergy Inc. | 57,485 | 3,563,495 | ||||||
| Eversource Energy. | 95,747 | 7,773,699 | ||||||
| Expeditors International of Washington Inc. | 160,312 | 20,149,615 | ||||||
| Extra Space Storage Inc. | 131,074 | 19,636,196 | ||||||
| F5 Networks Inc.(a) | 39,141 | 7,257,916 | ||||||
| Fidelity National Information Services Inc. | 147,354 | 21,952,799 | ||||||
| Fiserv Inc.(a) | 194,867 | 22,448,678 | ||||||
| General Mills Inc. | 136,473 | 8,578,693 | ||||||
| Genuine Parts Co. | 45,983 | 6,029,291 | ||||||
| Gilead Sciences Inc. | 750,517 | 49,616,679 | ||||||
| Henry Schein Inc.(a)(b) | 46,779 | 3,557,075 | ||||||
| Hershey Co. (The) | 200,908 | 34,767,129 | ||||||
| Home Depot Inc. (The) | 64,589 | 20,598,078 | ||||||
| Hormel Foods Corp. | 480,088 | 23,303,472 | ||||||
| Humana Inc. | 16,422 | 7,187,909 | ||||||
| Intel Corp. | 55,149 | 3,150,111 | ||||||
| Intercontinental Exchange Inc. | 69,983 | 7,899,681 | ||||||
| International Business Machines Corp. | 40,118 | 5,766,561 | ||||||
| Intuit Inc. | 21,432 | 9,410,577 | ||||||
| Jack Henry & Associates Inc. | 122,998 | 18,960,142 | ||||||
| JM Smucker Co. (The) | 85,217 | 11,358,574 | ||||||
| Johnson & Johnson | 309,814 | 52,436,020 | ||||||
| Juniper Networks Inc. | 114,617 | 3,017,866 | ||||||
| Kellogg Co. | 299,923 | 19,641,957 | ||||||
| Keysight Technologies Inc.(a)(b) | 300,855 | 42,835,735 | ||||||
| Security | Shares | Value | ||||||
| United States (continued) | ||||||||
| Kimberly-Clark Corp. | 127,432 | $ | 16,646,442 | |||||
| Kroger Co. (The). | 1,060,564 | 39,219,657 | ||||||
| Liberty Broadband Corp., Class C, NVS(a) | 189,210 | 31,463,731 | ||||||
| MarketAxess Holdings Inc. | 12,121 | 5,654,931 | ||||||
| Marsh & McLennan Companies Inc. | 220,904 | 30,562,068 | ||||||
| Masimo Corp.(a)(b) | 15,651 | 3,374,356 | ||||||
| Mastercard Inc., Class A | 43,119 | 15,547,849 | ||||||
| McCormick & Co. Inc./MD, NVS | 251,170 | 22,369,200 | ||||||
| McDonald’s Corp. | 189,548 | 44,333,382 | ||||||
| Medtronic PLC. | 209,462 | 26,515,795 | ||||||
| Merck & Co. Inc. | 696,457 | 52,854,122 | ||||||
| Microsoft Corp. | 39,541 | 9,872,597 | ||||||
| Moderna Inc.(a) | 16,176 | 2,992,722 | ||||||
| Mondelez International Inc., Class A | 92,385 | 5,869,219 | ||||||
| Motorola Solutions Inc. | 214,004 | 43,937,161 | ||||||
| Newmont Corp. | 1,007,942 | 74,063,578 | ||||||
| NextEra Energy Inc. | 676,439 | 49,528,864 | ||||||
| O’Reilly Automotive Inc.(a) | 25,575 | 13,685,694 | ||||||
| Old Dominion Freight Line Inc. | 9,603 | 2,549,116 | ||||||
| Oracle Corp. | 177,722 | 13,993,830 | ||||||
| Palo Alto Networks Inc.(a) | 17,660 | 6,414,995 | ||||||
| Paychex Inc. | 379,553 | 38,387,990 | ||||||
| PepsiCo Inc. | 361,950 | 53,546,883 | ||||||
| Pfizer Inc. | 458,388 | 17,753,367 | ||||||
| Pool Corp. | 5,272 | 2,301,492 | ||||||
| Procter & Gamble Co. (The) | 271,220 | 36,574,017 | ||||||
| Progressive Corp. (The) | 173,537 | 17,194,046 | ||||||
| Public Storage | 143,889 | 40,645,765 | ||||||
| Regeneron Pharmaceuticals Inc.(a) | 110,467 | 55,501,935 | ||||||
| Republic Services Inc. | 360,894 | 39,402,407 | ||||||
| Seagen Inc.(a) | 26,706 | 4,148,777 | ||||||
| Southern Co. (The) | 512,134 | 32,735,605 | ||||||
| Starbucks Corp. | 98,639 | 11,233,009 | ||||||
| Stryker Corp. | 22,820 | 5,825,261 | ||||||
| T-Mobile U.S. Inc.(a) | 181,695 | 25,700,758 | ||||||
| Take-Two Interactive Software Inc.(a) | 126,042 | 23,388,354 | ||||||
| Target Corp. | 134,609 | 30,545,474 | ||||||
| Tradeweb Markets Inc., Class A | 89,691 | 7,514,312 | ||||||
| Travelers Companies Inc. (The) | 22,573 | 3,604,908 | ||||||
| Tyler Technologies Inc.(a)(b) | 65,597 | 26,446,087 | ||||||
| UnitedHealth Group Inc. | 31,301 | 12,893,508 | ||||||
| VeriSign Inc.(a) | 40,078 | 8,813,954 | ||||||
| Verizon Communications Inc. | 1,227,153 | 69,321,873 | ||||||
| Vertex Pharmaceuticals Inc.(a) | 170,726 | 35,618,565 | ||||||
| Visa Inc., Class A | 241,837 | 54,969,550 | ||||||
| Walmart Inc. | 348,853 | 49,547,592 | ||||||
| Walt Disney Co. (The)(a) | 55,348 | 9,887,920 | ||||||
| Waste Management Inc. | 487,154 | 68,532,825 | ||||||
| WEC Energy Group Inc. | 417,467 | 39,204,326 | ||||||
| West Pharmaceutical Services Inc. | 57,278 | 19,904,678 | ||||||
| Western Union Co. (The) | 664,344 | 16,256,498 | ||||||
| Xcel Energy Inc. | 582,297 | 41,273,211 | ||||||
| Zoom Video Communications Inc., Class A(a) | 21,703 | 7,195,196 | ||||||
| 2,747,156,878 | ||||||||
| Total Common Stocks — 99.3% | ||||||||
| (Cost: $4,281,461,937) | . | 5,261,261,541 | ||||||
4
| Schedule of Investments (unaudited) (continued) | iShares® MSCI Global Min Vol Factor ETF |
| May 31, 2021 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Right | ||||||||
| Singapore — 0.0% | ||||||||
| Singapore Airlines Ltd. (Expires 06/16/21)(a) | 2,222,088 | $ | 0 | (f) | ||||
| Total Rights — 0.0% | ||||||||
| (Cost: $0) | 0 | (f) | ||||||
Short-Term Investments
| Money Market Funds — 0.8% | ||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares, 0.06%(g)(h)(i) | 43,432,794 | 43,458,854 | ||||||
| Total Short-Term Investments — 0.8% | ||||||||
| (Cost: $43,441,525) | 43,458,854 | |||||||
| Total Investments in Securities — 100.1% | ||||||||
| (Cost: $4,324,903,462) | 5,304,720,395 | |||||||
| Other Assets, Less Liabilities — (0.1)%. | (4,809,143 | ) | ||||||
| NetAssets—100.0% | $ | 5,299,911,252 | ||||||
| (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) | Rounds to less than 1. |
| (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 affiliate(s) of the Fund during the period ended May 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| Affiliated Issuer | Value at 08/31/20 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 05/31/21 | Shares Held
at | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares | $ | 105,527,162 | $ | — | $ | (62,029,734 | )(a) | $ | 66,899 | $ | (105,473 | ) | $ | 43,458,854 | 43,432,794 | $ | 160,711 | (b) | $ | — | ||||||||||||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares(c) | 13,570,000 | — | (13,570,000 | )(a) | — | — | — | — | 4,712 | — | ||||||||||||||||||||||||||
| $ | 66,899 | $ | (105,473 | ) | $ | 43,458,854 | $ | 165,423 | $ | — | ||||||||||||||||||||||||||
| (a) | Represents net amount purchased (sold). |
| (b) | All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
| (c) | As of period end, the entity is no longer held. |
Futures Contracts
| Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) | ||||||||||
| Long Contracts | ||||||||||||||
| 2-Year U.S. Treasury Note | 11 | 09/30/21 | $ | 2,430 | $ | 1,359 | ||||||||
| MSCI EAFE Index | 49 | 06/18/21 | 5,726 | 169,296 | ||||||||||
| MSCI Emerging Markets E-Mini Index | 42 | 06/18/21 | 2,858 | 61,533 | ||||||||||
| S&P 500 E-Mini Index | 53 | 06/18/21 | 11,136 | 225,416 | ||||||||||
| $ | 457,604 | |||||||||||||
5
| Schedule of Investments (unaudited) (continued) | iShares® MSCI Global Min Vol Factor ETF |
| May 31, 2021 |
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 May 31, 2021. 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 | $ | 3,072,262,656 | $ | 2,188,998,882 | $ | 3 | $ | 5,261,261,541 | ||||||||
| Rights | — | 0 | (a) | — | 0 | (a) | ||||||||||
| Money Market Funds. | 43,458,854 | — | — | 43,458,854 | ||||||||||||
| $ | 3,115,721,510 | $ | 2,188,998,882 | $ | 3 | $ | 5,304,720,395 | |||||||||
| Derivative financial instruments(b) | ||||||||||||||||
| Assets | ||||||||||||||||
| Futures Contracts. | $ | 457,604 | $ | — | $ | — | $ | 457,604 | ||||||||
| (a) | Rounds to less than $1. |
| (b) | Shown at the unrealized appreciation (depreciation) on the contracts. |
Portfolio Abbreviations - Equity
| ADR | American Depositary Receipt |
| NVDR | Non-Voting Depositary Receipt |
| NVS | Non-Voting Shares |
| PJSC | Public Joint Stock Company |
| REIT | Real Estate Investment Trust |
6