Schedule of Investments (unaudited)	iShares® MSCI Spain ETF
May 31, 2021	(Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Banks — 25.8%
Banco Bilbao Vizcaya Argentaria SA		4,029,901	$	25,219,101
Banco Santander SA		21,407,518		89,469,601
CaixaBank SA		6,993,843		23,948,259
				138,636,961
Biotechnology — 2.9%
Grifols SA		555,514		15,449,400
Construction & Engineering — 7.0%
ACS Actividades de Construccion y Servicios SA		459,343		14,270,374
Ferrovial SA		791,174		23,171,667
				37,442,041
Diversified Telecommunication Services — 9.2%
Cellnex Telecom SA(a)		433,555		25,916,452
Telefonica SA		4,800,939		23,577,679
				49,494,131
Electric Utilities — 24.2%
Endesa SA		596,112		16,205,597
Iberdrola SA		7,384,048		98,990,646
Red Electrica Corp. SA		748,334		14,983,595
				130,179,838
Electrical Equipment — 2.9%
Siemens Gamesa Renewable Energy SA(b)		471,361		15,441,352
Gas Utilities — 4.9%
Enagas SA		485,737		11,382,854
Naturgy Energy Group SA		565,432		14,769,278
				26,152,132
IT Services — 4.6%
Amadeus IT Group SA(b)		331,261		24,890,920
Oil, Gas & Consumable Fuels — 4.4%
Repsol SA		1,784,369		23,784,464
Specialty Retail — 9.7%
Industria de Diseno Textil SA		1,352,936		52,203,460
Transportation Infrastructure — 4.0%
Aena SME SA(a)(b)		123,587		21,599,779
Total Common Stocks — 99.6%
(Cost: $623,026,686)				535,274,478

Security	Shares		Value
Rights
Construction & Engineering — 0.0%
Ferrovial SA, (Expires 06/01/21)(b)(c)		733,434	$	178,251
Total Rights — 0.0%
(Cost: $174,453)				178,251

Short-Term Investments 

Money Market Funds — 0.5%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.06%(d)(e)(f)	1,741,411		1,742,455
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(d)(e)	810,000		810,000
			2,552,455
Total Short-Term Investments — 0.5%
(Cost: $2,552,337)			2,552,455
Total Investments in Securities — 100.1%
(Cost: $625,753,476)			538,005,184
Other Assets, Less Liabilities — (0.1)%.			(347,758	)
Net Assets—100.0%		$	537,657,426

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

^(b) Non-income producing security.

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

^(d) Affiliate of the Fund.

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

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

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Schedule of Investments (unaudited) (continued)	iShares® MSCI Spain ETF
May 31, 2021

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 05/31/21		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL Agency Shares	$	—	$	1,744,468	(a)	$	—	$	(2,131	)	$	118	$	1,742,455		1,741,411	$	5,331	(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		240,000		570,000	(a)		—		—			—		810,000		810,000		134			—
								$	(2,131	)	$	118	$	2,552,455			$	5,465		$	—

^(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.

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount (000)		Value/ Unrealized Appreciation (Depreciation)
Long Contracts
IBEX 35 Index		6	06/18/21	$	668	$	(1,517	)

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	$	—		$	535,274,478	$	—	$	535,274,478
Rights		—			—		178,251		178,251
Money Market Funds		2,552,455			—		—		2,552,455
	$	2,552,455		$	535,274,478	$	178,251	$	538,005,184
Derivative financial instruments(a)
Liabilities
Futures Contracts	$	(1,517	)	$	—	$	—	$	(1,517	)

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

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