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

Security	Shares		Value
Common Stocks
Argentina — 0.2%
Globant SA(a)		5,344	$	1,164,297
YPF SA, ADR(a)		22,388		105,224
				1,269,521
Brazil — 6.0%
Ambev SA		672,800		2,317,240
Atacadao SA		58,000		249,285
B2W Cia. Digital(a)		31,283		358,647
B3 SA - Brasil, Bolsa, Balcao		819,394		2,757,674
Banco Bradesco SA		179,016		785,213
Banco BTG Pactual SA		46,400		1,106,649
Banco do Brasil SA		104,400		670,867
Banco Inter SA		52,044		682,343
Banco Santander Brasil SA		46,400		366,984
BRF SA(a)		81,685		403,746
CCR SA		197,200		521,407
Centrais Eletricas Brasileiras SA		58,132		488,997
Cia. Siderurgica Nacional SA		104,400		899,831
Cosan SA		89,828		402,801
CPFL Energia SA		77,165		425,083
Energisa SA		46,400		413,725
Engie Brasil Energia SA		34,800		265,689
Equatorial Energia SA		139,200		660,517
Hapvida Participacoes e Investimentos SA(b)		174,000		534,183
Hypera SA		97,722		682,518
JBS SA		162,400		942,610
Klabin SA(a)		92,800		469,012
Localiza Rent a Car SA		82,632		993,322
Lojas Renner SA		116,030		1,041,926
Magazine Luiza SA		421,917		1,632,068
Natura & Co. Holding SA(a)		127,735		1,263,453
Notre Dame Intermedica Participacoes SA		69,600		1,180,410
Petrobras Distribuidora SA		116,000		574,246
Petroleo Brasileiro SA		522,000		2,669,244
Raia Drogasil SA		151,728		820,403
Rede D’Or Sao Luiz SA(b)		9,483		127,769
Rumo SA(a)		185,600		736,104
Suzano SA(a)		98,994		1,153,540
Telefonica Brasil SA		69,600		590,272
TIM SA		131,688		307,509
TOTVS SA		56,749		375,336
Ultrapar Participacoes SA		41,529		153,790
Vale SA		512,844		11,294,632
Via Varejo SA(a)		177,904		443,079
WEG SA		255,280		1,672,739
				43,434,863
Chile — 0.6%
Banco de Chile		5,160,038		532,029
Banco de Credito e Inversiones SA		7,656		365,628
Banco Santander Chile		9,486,248		523,086
Cencosud SA		158,137		328,497
Cencosud Shopping SA		153,147		291,708
Cia. Cervecerias Unidas SA		28,420		254,976
Empresas CMPC SA		152,555		393,758
Empresas COPEC SA		60,436		609,782
Enel Americas SA		3,781,273		521,915
Enel Chile SA		4,151,292		254,464
Falabella SA		120,640		544,903
				4,620,746

Security	Shares		Value
Colombia — 0.2%
Bancolombia SA		67,860	$	494,126
Ecopetrol SA		683,472		403,669
Grupo de Inversiones Suramericana SA		29,834		161,078
Interconexion Electrica SA ESP		79,808		430,894
				1,489,767
Cyprus — 0.3%
Ozon Holdings PLC, ADR(a)		9,701		516,238
TCS Group Holding PLC, GDR(c)		19,075		1,434,435
				1,950,673
Czech Republic — 0.2%
CEZ AS(d)		21,112		632,848
Komercni Banka AS(a)		15,544		572,273
Moneta Money Bank AS(a)(b)		104,632		392,277
				1,597,398
Egypt — 0.0%
Commercial International Bank Egypt SAE		13,895		47,465
Eastern Co. SAE		195,074		146,335
Fawry for Banking & Payment Technology Services SAE(a)		102,787		142,593
				336,393
Greece — 0.2%
Eurobank Ergasias Services and Holdings SA, Class A(a)		121,644		113,589
Hellenic Telecommunications Organization SA		35,117		632,908
JUMBO SA		10,077		196,311
OPAP SA		17,256		271,195
				1,214,003
Hungary — 0.4%
MOL Hungarian Oil & Gas PLC(a)		12,663		102,420
OTP Bank Nyrt(a)		34,336		1,875,749
Richter Gedeon Nyrt		19,140		542,283
				2,520,452
India — 16.0%
Adani Enterprises Ltd.(a)		23,560		427,672
Adani Green Energy Ltd.(a)		55,456		970,695
Adani Ports & Special Economic Zone Ltd.(a)		72,868		772,950
Adani Total Gas Ltd.(a)		25,815		479,677
Adani Transmission Ltd.(a)		26,610		541,000
Apollo Hospitals Enterprise Ltd.		19,049		836,842
Asian Paints Ltd.		51,546		2,116,094
Aurobindo Pharma Ltd.		61,534		849,602
Avenue Supermarts Ltd.(a)(b)		26,118		1,106,123
Axis Bank Ltd.(a).		271,287		2,798,687
Bajaj Auto Ltd.(a)		2,584		149,200
Bajaj Finance Ltd.(a)		37,780		2,932,973
Bajaj Finserv Ltd.(a)		5,716		931,803
Bandhan Bank Ltd.(a)(b)		81,420		344,563
Bharat Electronics Ltd.		15,805		31,634
Bharat Forge Ltd.(a)		84,913		790,190
Bharat Petroleum Corp. Ltd.		119,388		777,092
Bharti Airtel Ltd.		332,736		2,458,682
Britannia Industries Ltd.		14,422		685,248
Cholamandalam Investment and Finance Co. Ltd.		24,307		183,882
Cipla Ltd.(a)		64,392		841,043
Coal India Ltd.		273,230		556,702
Dabur India Ltd.		108,056		807,973
Divi’s Laboratories Ltd.(a)		19,908		1,148,802
DLF Ltd.		207,921		826,942

1 

Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets ex China ETF
May 31, 2021	(Percentages shown are based on Net Assets)

Security	Shares		Value
India (continued)
Dr. Reddy’s Laboratories Ltd.		16,262	$	1,187,247
Eicher Motors Ltd.(a)		18,332		673,789
Godrej Consumer Products Ltd.(a)		83,880		993,520
Grasim Industries Ltd.		44,680		904,482
HCL Technologies Ltd.		145,506		1,897,890
HDFC Life Insurance Co. Ltd.(a)(b)		118,238		1,084,624
Hero MotoCorp Ltd.		23,438		970,469
Hindalco Industries Ltd.		263,514		1,430,983
Hindustan Unilever Ltd.		111,643		3,604,326
Housing Development Finance Corp. Ltd.		231,884		8,150,382
ICICI Bank Ltd.(a)		721,422		6,613,364
ICICI Lombard General Insurance Co. Ltd.(b)		33,904		689,578
Indus Towers Ltd.		25,942		86,743
Info Edge India Ltd.(a)		14,224		855,467
Infosys Ltd.		470,686		9,046,316
InterGlobe Aviation Ltd.(a)(b)		545		13,166
ITC Ltd.		454,884		1,360,872
JSW Steel Ltd.		144,356		1,417,745
Kotak Mahindra Bank Ltd.(a)		74,478		1,854,886
Larsen & Toubro Infotech Ltd.(b)		3,379		183,929
Larsen & Toubro Ltd.		92,350		1,873,195
Lupin Ltd.		8,076		135,709
Mahindra & Mahindra Ltd.		126,254		1,407,690
Maruti Suzuki India Ltd.		18,332		1,787,952
Motherson Sumi Systems Ltd.(a)		277,050		916,746
Muthoot Finance Ltd.		43,096		783,593
Nestle India Ltd.		4,796		1,166,265
NTPC Ltd.		819,718		1,249,707
Oil & Natural Gas Corp. Ltd.		203,416		318,437
Pidilite Industries Ltd.(a)		31,374		907,512
Piramal Enterprises Ltd.		7,630		190,666
Power Grid Corp. of India Ltd.		321,796		1,001,915
REC Ltd.		366,728		738,516
Reliance Industries Ltd.		396,438		11,769,460
SBI Life Insurance Co. Ltd.(b)		61,632		828,930
Shree Cement Ltd.(a)		1,576		601,100
Shriram Transport Finance Co. Ltd.		19,075		374,470
Siemens Ltd.		26,589		766,292
State Bank of India(a)		258,028		1,510,118
Sun Pharmaceutical Industries Ltd.		148,266		1,365,911
Tata Consultancy Services Ltd.		127,634		5,567,307
Tata Consumer Products Ltd.		114,098		1,044,055
Tata Motors Ltd.(a)		255,498		1,121,255
Tata Steel Ltd.		112,752		1,752,697
Tech Mahindra Ltd.		106,542		1,505,491
Titan Co. Ltd		49,706		1,091,509
Torrent Pharmaceuticals Ltd.		18,822		712,337
Trent Ltd		66,651		787,238
UltraTech Cement Ltd.		15,613		1,441,353
UPL Ltd.		76,054		855,157
Vedanta Ltd.		272,484		1,029,205
Wipro Ltd.		171,854		1,277,793
Yes Bank Ltd.(a)		1,442,617		268,422
				115,533,852
Indonesia — 1.8%
Adaro Energy Tbk PT		7,134,000		594,094
Aneka Tambang Tbk		3,732,500		640,380
Astra International Tbk PT		447,300		164,226
Bank Central Asia Tbk PT		1,275,300		2,843,888
Bank Mandiri Persero Tbk PT		2,332,700		978,350

Security	Shares		Value
Indonesia (continued)
Bank Negara Indonesia Persero Tbk PT		960,400	$	362,958
Bank Rakyat Indonesia Persero Tbk PT		6,991,200		2,085,074
Barito Pacific Tbk PT		669,800		42,151
Charoen Pokphand Indonesia Tbk PT		741,800		350,291
Gudang Garam Tbk PT(a)		20,000		46,388
Indah Kiat Pulp & Paper Tbk PT		307,200		182,783
Indocement Tunggal Prakarsa Tbk PT		89,000		75,349
Indofood CBP Sukses Makmur Tbk PT		337,900		193,922
Indofood Sukses Makmur Tbk PT		93,800		41,683
Kalbe Farma Tbk PT		737,800		74,852
Merdeka Copper Gold Tbk PT(a)		4,152,800		785,360
Sarana Menara Nusantara Tbk PT		9,067,300		745,430
Semen Indonesia Persero Tbk PT		106,000		71,957
Telkom Indonesia Persero Tbk PT		5,898,200		1,422,632
Unilever Indonesia Tbk PT		1,706,800		699,204
United Tractors Tbk PT		359,700		567,664
				12,968,636
Kuwait — 0.8%
Agility Public Warehousing Co. KSC		167,541		511,614
Boubyan Bank KSC		205,902		459,080
Kuwait Finance House KSCP		628,533		1,555,930
Mabanee Co. KPSC		74,630		176,067
Mobile Telecommunications Co. KSCP		331,072		653,974
National Bank of Kuwait SAKP		876,988		2,422,678
				5,779,343
Malaysia — 2.2%
AMMB Holdings Bhd		290,000		199,916
Axiata Group Bhd		510,400		456,406
CIMB Group Holdings Bhd		962,800		996,883
Dialog Group Bhd		510,400		356,754
DiGi.Com Bhd		429,200		441,996
Genting Bhd		481,600		568,410
Genting Malaysia Bhd		583,900		394,117
Hartalega Holdings Bhd		266,800		580,283
Hong Leong Bank Bhd		128,900		573,488
IHH Healthcare Bhd		348,000		445,957
IOI Corp. Bhd		243,600		241,036
Kossan Rubber Industries		109,000		106,555
Kuala Lumpur Kepong Bhd		81,200		436,105
Malayan Banking Bhd(d)		568,400		1,124,287
Malaysia Airports Holdings Bhd		260,644		352,436
Maxis Bhd		320,000		359,827
MISC Bhd		208,800		346,778
Nestle Malaysia Bhd		11,600		382,958
Petronas Chemicals Group Bhd		324,800		631,962
Petronas Dagangan Bhd		39,200		179,202
Petronas Gas Bhd		116,000		454,571
PPB Group Bhd		104,440		467,940
Press Metal Aluminium Holdings Bhd		502,600		632,032
Public Bank Bhd		2,019,600		2,056,883
RHB Bank Bhd		232,000		297,484
Sime Darby Bhd		371,800		205,981
Sime Darby Plantation Bhd		359,600		395,696
Supermax Corp. Bhd		184,900		184,271
Telekom Malaysia Bhd		220,400		327,831
Tenaga Nasional Bhd		348,000		837,463
Top Glove Corp. Bhd(d)		730,800		914,645
				15,950,153

2 

Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets ex China ETF
May 31, 2021	(Percentages shown are based on Net Assets)

Security	Shares		Value
Mexico — 2.8%
America Movil SAB de CV, Series L, NVS		4,675,200	$	3,661,669
Arca Continental SAB de CV		69,600		391,784
Cemex SAB de CV, CPO, NVS(a)		2,030,000		1,712,220
Coca-Cola Femsa SAB de CV		81,200		405,633
Fibra Uno Administracion SA de CV		324,800		383,374
Fomento Economico Mexicano SAB de CV		278,400		2,348,048
Gruma SAB de CV, Class B		8,060		87,811
Grupo Aeroportuario del Pacifico SAB de CV, Class B		58,000		628,920
Grupo Aeroportuario del Sureste SAB de CV, Class B(a)		29,615		536,796
Grupo Bimbo SAB de CV, Series A		91,100		200,193
Grupo Financiero Banorte SAB de CV, Class O		349,600		2,420,942
Grupo Financiero Inbursa SAB de CV, Class O(a)		308,800		314,567
Grupo Mexico SAB de CV, Series B		452,400		2,206,580
Grupo Televisa SAB, CPO		383,700		1,018,872
Industrias Penoles SAB de CV(a)		10,515		159,647
Kimberly-Clark de Mexico SAB de CV, Class A		220,400		399,460
Megacable Holdings SAB de CV, CPO		68,900		261,791
Orbia Advance Corp. SAB de CV		150,800		429,581
Promotora y Operadora de Infraestructura SAB de CV		37,720		300,768
Telesites SAB de CV(a)		37,400		37,235
Wal-Mart de Mexico SAB de CV		765,600		2,519,969
				20,425,860
Pakistan — 0.0%
MCB Bank Ltd.		53,708		57,712
Peru — 0.2%
Cia. de Minas Buenaventura SAA, ADR(a)		30,160		347,443
Credicorp Ltd.		2,024		278,240
Southern Copper Corp.		12,876		897,972
				1,523,655
Philippines — 0.8%
Aboitiz Equity Ventures Inc.		103,000		86,858
Ayala Corp.		6,690		111,133
Ayala Land Inc.		1,607,700		1,157,066
Bank of the Philippine Islands		304,380		534,922
BDO Unibank Inc.		75,320		163,378
Globe Telecom Inc.		5,220		197,234
GT Capital Holdings Inc.		26,054		321,438
International Container Terminal Services Inc.		148,480		444,531
JG Summit Holdings Inc.		222,240		264,934
Jollibee Foods Corp.		79,140		319,391
Manila Electric Co.		13,080		77,599
Metro Pacific Investments Corp		3,723,600		309,957
Metropolitan Bank & Trust Co.		405,047		406,733
PLDT Inc.		21,040		578,850
SM Investments Corp.		9,730		197,497
SM Prime Holdings Inc.		460,000		346,240
Universal Robina Corp.		79,200		230,322
				5,748,083
Poland — 1.3%
Allegro.eu SA(a)(b)		54,873		860,595
Bank Polska Kasa Opieki SA(a)		27,028		705,294
CD Projekt SA		9,529		436,573
Dino Polska SA(a)(b)		6,612		511,759
KGHM Polska Miedz SA(a)		19,604		1,076,996
LPP SA(a)		200		609,275
Orange Polska SA(a)		100,920		182,737
PGE Polska Grupa Energetyczna SA(a)		134,560		365,488
Polski Koncern Naftowy ORLEN SA		58,012		1,290,360

Security	Shares		Value
Poland (continued)
Polskie Gornictwo Naftowe i Gazownictwo SA		399,927	$	716,618
Powszechna Kasa Oszczednosci Bank Polski SA(a)		121,828		1,347,137
Powszechny Zaklad Ubezpieczen SA(a)		87,116		877,830
Santander Bank Polska SA(a)		8,655		627,417
				9,608,079
Qatar — 1.0%
Commercial Bank PSQC (The)		272,600		394,250
Industries Qatar QSC		274,920		961,400
Masraf Al Rayan QSC		647,280		777,810
Mesaieed Petrochemical Holding Co.		635,680		323,973
Ooredoo QPSC		182,700		342,261
Qatar Electricity & Water Co. QSC		63,800		276,038
Qatar Fuel QSC		5,925		28,670
Qatar Gas Transport Co. Ltd.		315,762		265,814
Qatar International Islamic Bank QSC		83,172		214,338
Qatar Islamic Bank SAQ		171,680		802,894
Qatar National Bank QPSC		657,836		3,147,626
				7,535,074
Russia — 4.7%
Alrosa PJSC		440,713		705,272
Gazprom PJSC		1,599,640		5,682,273
Inter RAO UES PJSC		6,329,600		437,044
LUKOIL PJSC		55,923		4,572,459
Magnit PJSC, GDR(c)		21,350		326,015
Mail.Ru Group Ltd., GDR(a)(c)		28,606		652,530
MMC Norilsk Nickel PJSC		9,081		3,265,324
Mobile TeleSystems PJSC, ADR		45,789		417,596
Moscow Exchange MICEX-RTS PJSC		165,900		380,745
Novatek PJSC, GDR(c)		13,257		2,639,098
Novolipetsk Steel PJSC		192,010		685,470
PhosAgro PJSC, GDR(c)		26,003		532,021
Polymetal International PLC		35,607		844,374
Polyus PJSC		4,888		1,058,110
Rosneft Oil Co. PJSC		28,411		205,595
Sberbank of Russia PJSC		1,513,917		6,395,955
Severstal PAO		34,345		789,013
Surgutneftegas PJSC		1,483,800		735,935
Tatneft PJSC		112,378		761,965
VTB Bank PJSC, GDR(c)		188,589		250,693
X5 Retail Group NV, GDR(c)		6,552		198,639
Yandex NV, Class A(a)		40,792		2,743,568
				34,279,694
Saudi Arabia — 4.5%
Abdullah Al Othaim Markets Co.		8,816		302,631
Advanced Petrochemical Co.		27,376		600,553
Al Rajhi Bank		163,226		4,495,714
Alinma Bank		114,611		614,162
Almarai Co. JSC		32,721		481,272
Arab National Bank		68,556		406,680
Bank AlBilad		50,228		506,776
Bank Al-Jazira		97,208		479,969
Banque Saudi Fransi		80,736		781,600
Bupa Arabia for Cooperative Insurance Co.(a)		9,976		314,510
Co for Cooperative Insurance (The)		15,776		337,794
Dar Al Arkan Real Estate Development Co.(a)		59,160		163,913
Dr Sulaiman Al Habib Medical Services Group Co.		9,512		418,561
Emaar Economic City(a)		55,450		167,116
Etihad Etisalat Co.		50,460		445,293
Jarir Marketing Co.		10,208		572,306

3 

Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets ex China ETF
May 31, 2021	(Percentages shown are based on Net Assets)

Security	Shares		Value
Saudi Arabia (continued)
National Industrialization Co.(a)		47,452	$	237,695
Riyad Bank		182,932		1,282,807
SABIC Agri-Nutrients Co.		25,752		707,096
Sahara International Petrochemical Co.		75,284		580,803
Saudi Airlines Catering Co.(a)		1,576		33,417
Saudi Arabian Mining Co.(a)		49,764		787,074
Saudi Arabian Oil Co.(b)		283,852		2,673,143
Saudi Basic Industries Corp.		122,148		4,059,131
Saudi British Bank (The)		93,728		766,466
Saudi Cement Co.		15,544		272,313
Saudi Electricity Co.		111,476		734,206
Saudi Industrial Investment Group		47,847		482,930
Saudi Kayan Petrochemical Co.(a)		124,932		593,473
Saudi National Bank		298,769		4,230,287
Saudi Telecom Co.		84,100		2,800,583
Savola Group (The)		33,226		361,976
Yanbu National Petrochemical Co.		33,176		617,168
				32,309,418
South Africa — 6.0%
Absa Group Ltd.(a)		99,689		1,035,800
Anglo American Platinum Ltd.		6,802		896,874
AngloGold Ashanti Ltd.		57,072		1,409,319
Aspen Pharmacare Holdings Ltd.(a)		56,840		664,036
Bid Corp. Ltd.(a)		53,528		1,128,064
Bidvest Group Ltd. (The)		48,058		677,282
Capitec Bank Holdings Ltd.		10,564		1,277,691
Clicks Group Ltd.		37,700		704,417
Discovery Ltd.(a)		55,691		568,134
Exxaro Resources Ltd.		30,856		344,468
FirstRand Ltd.		684,487		2,782,862
Gold Fields Ltd.		123,656		1,559,334
Growthpoint Properties Ltd.		514,466		539,431
Harmony Gold Mining Co. Ltd.		74,704		399,667
Impala Platinum Holdings Ltd.		115,536		2,099,875
Kumba Iron Ore Ltd.		5,916		274,506
Mr. Price Group Ltd.		47,037		796,280
MTN Group Ltd.(a)		243,948		1,759,867
MultiChoice Group		69,141		691,498
Naspers Ltd., Class N		49,430		10,946,560
Nedbank Group Ltd.		54,637		645,221
NEPI Rockcastle PLC		66,711		465,531
Northam Platinum Ltd.(a)		46,632		788,601
Old Mutual Ltd.		661,084		685,781
Rand Merchant Investment Holdings Ltd.		134,096		314,729
Reinet Investments SCA		20,068		415,842
Remgro Ltd.		84,555		734,426
Sanlam Ltd.		271,589		1,171,856
Sasol Ltd.(a)		80,156		1,303,170
Shoprite Holdings Ltd.		68,437		767,786
Sibanye Stillwater Ltd.		350,412		1,659,100
SPAR Group Ltd. (The)		29,331		406,744
Standard Bank Group Ltd.		187,842		1,848,462
Tiger Brands Ltd.		24,786		398,015
Vodacom Group Ltd.		89,436		849,050
Woolworths Holdings Ltd.(a)		144,304		584,116
				43,594,395
South Korea — 19.9%
Alteogen Inc.(a)		7,888		516,619
Amorepacific Corp.		4,176		1,073,441

Security	Shares		Value
South Korea (continued)
AMOREPACIFIC Group		4,176	$	290,273
BGF retail Co. Ltd.		1,625		264,362
Celltrion Healthcare Co. Ltd.(a).		9,636		1,042,904
Celltrion Inc.(a)		13,463		3,310,202
Celltrion Pharm Inc.(a)		2,213		275,948
CJ CheilJedang Corp.		1,394		610,382
CJ ENM Co. Ltd.		1,740		257,751
CJ Logistics Corp.(a)		1,214		185,054
Coway Co. Ltd.		8,120		605,902
Daewoo Shipbuilding & Marine Engineering Co. Ltd.(a)		5,800		175,052
DB Insurance Co. Ltd.		6,284		285,541
Doosan Bobcat Inc.(a)		6,794		312,225
Doosan Heavy Industries & Construction Co. Ltd.(a)		14,933		266,426
Douzone Bizon Co. Ltd.		4,443		329,004
E-MART Inc.		3,364		479,640
Fila Holdings Corp.		8,120		396,293
Green Cross Corp.		109		33,349
GS Engineering & Construction Corp.		11,832		474,277
GS Holdings Corp.		8,932		368,879
Hana Financial Group Inc.		39,672		1,655,053
Hankook Tire & Technology Co. Ltd.		10,677		467,414
Hanmi Pharm Co. Ltd.		1,398		445,755
Hanon Systems		23,780		360,764
Hanwha Solutions Corp.(a)		18,233		735,540
HLB Inc.(a)		14,746		454,288
HMM Co. Ltd.(a)		26,051		1,117,624
Hotel Shilla Co. Ltd.		5,336		485,300
HYBE Co. Ltd.(a)		763		181,208
Hyundai Engineering & Construction Co. Ltd.		12,064		620,109
Hyundai Glovis Co. Ltd.		3,132		529,654
Hyundai Heavy Industries Holdings Co. Ltd.		6,960		439,590
Hyundai Mobis Co. Ltd.		9,288		2,327,485
Hyundai Motor Co.		20,065		4,218,102
Hyundai Steel Co.		11,136		532,220
Industrial Bank of Korea		35,202		340,673
Kakao Corp.		41,772		4,604,236
Kangwon Land Inc.(a)		14,036		361,984
KB Financial Group Inc.		55,680		2,942,896
Kia Corp .		37,004		2,829,053
Korea Aerospace Industries Ltd.		13,456		411,022
Korea Electric Power Corp.		33,408		772,217
Korea Investment Holdings Co. Ltd.		6,612		615,342
Korea Shipbuilding & Offshore Engineering Co. Ltd.(a)		5,340		682,188
Korea Zinc Co. Ltd.		1,160		469,366
Korean Air Lines Co. Ltd.(a)		13,735		393,415
KT&G Corp.		16,936		1,280,087
Kumho Petrochemical Co. Ltd.		2,204		456,654
LG Chem Ltd.		6,367		4,670,781
LG Corp.		9,492		859,192
LG Display Co. Ltd.(a)		32,480		700,109
LG Electronics Inc.		15,567		2,121,616
LG Household & Health Care Ltd.		1,392		1,944,348
LG Innotek Co. Ltd.		1,972		361,677
LG Uplus Corp.		19,952		269,888
Lotte Chemical Corp.		2,552		638,149
Lotte Shopping Co. Ltd.		1,973		214,632
LX Holdings Corp.(a)		4,603		45,192
Mirae Asset Securities Co. Ltd.		60,088		532,776
NAVER Corp.		17,643		5,731,801
NCSoft Corp.		2,436		1,896,447

4 

Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets ex China ETF
May 31, 2021	(Percentages shown are based on Net Assets)

Security	Shares		Value
South Korea (continued)
Netmarble Corp.(b)		2,900	$	362,845
NH Investment & Securities Co. Ltd.		22,852		269,151
Orion Corp./Republic of Korea		3,944		422,317
Pearl Abyss Corp.(a)		7,459		405,288
POSCO		10,558		3,357,933
POSCO Chemical Co. Ltd.		4,542		590,091
S-1 Corp.		1,740		126,370
Samsung Biologics Co. Ltd.(a)(b)		2,436		1,847,558
Samsung C&T Corp.		11,484		1,424,601
Samsung Electro-Mechanics Co. Ltd.		8,816		1,347,880
Samsung Electronics Co. Ltd.		646,400		46,630,454
Samsung Engineering Co. Ltd.(a)		22,620		383,376
Samsung Fire & Marine Insurance Co. Ltd.		3,834		726,332
Samsung Heavy Industries Co. Ltd.(a)		68,564		371,664
Samsung Life Insurance Co. Ltd.		9,068		680,471
Samsung SDI Co. Ltd.		7,774		4,287,691
Samsung SDS Co. Ltd.		5,800		943,309
Samsung Securities Co. Ltd.		8,004		340,188
Shin Poong Pharmaceutical Co. Ltd.		2,536		147,029
Shinhan Financial Group Co. Ltd.		62,292		2,374,666
Shinsegae Inc.		1,160		334,026
SK Biopharmaceuticals Co. Ltd.(a)		981		99,767
SK Chemicals Co. Ltd.		109		24,773
SK Holdings Co. Ltd.		4,988		1,182,847
SK Hynix Inc.		75,052		8,549,549
SK Innovation Co. Ltd.(a)		7,888		1,870,985
SK Telecom Co. Ltd.		3,795		1,082,506
S-Oil Corp.(a)		4,176		350,103
Woori Financial Group Inc.		36,462		364,150
Yuhan Corp.		9,299		546,919
				143,714,210
Taiwan — 21.9%
Accton Technology Corp.		38,000		421,752
Acer Inc.		464,000		532,623
Advantech Co. Ltd.		26,299		312,717
Airtac International Group		3,000		107,853
ASE Technology Holding Co. Ltd.		464,000		1,860,967
Asia Cement Corp.		348,000		651,698
Asustek Computer Inc.		116,000		1,649,819
AU Optronics Corp.(a).		1,160,000		1,072,520
Catcher Technology Co. Ltd.		116,000		767,902
Cathay Financial Holding Co. Ltd.		1,044,063		2,101,588
Chailease Holding Co. Ltd.		118,419		890,125
Chang Hwa Commercial Bank Ltd.		933,599		566,765
Cheng Shin Rubber Industry Co. Ltd.		341,000		573,191
China Development Financial Holding Corp.		1,740,000		779,914
China Life Insurance Co. Ltd.		353,857		315,569
China Steel Corp.		1,624,000		2,162,053
Chunghwa Telecom Co. Ltd.		468,000		1,917,317
Compal Electronics Inc.		580,000		490,076
CTBC Financial Holding Co. Ltd.		2,552,000		2,118,557
Delta Electronics Inc.		239,000		2,546,384
E.Sun Financial Holding Co. Ltd.		1,856,286		1,708,515
Eclat Textile Co. Ltd.		30,000		697,437
Evergreen Marine Corp. Taiwan Ltd.(a)		348,000		1,235,220
Far Eastern New Century Corp.		464,000		528,931
Far EasTone Telecommunications Co. Ltd.		348,000		808,504
Feng TAY Enterprise Co. Ltd.		21,000		182,400
First Financial Holding Co. Ltd.		1,515,859		1,203,108
Formosa Chemicals & Fibre Corp.		464,000		1,430,508

Security	Shares		Value
Taiwan (continued)
Formosa Petrochemical Corp.		262,000	$	943,458
Formosa Plastics Corp.		580,000		2,163,450
Foxconn Technology Co. Ltd.		140,000		328,761
Fubon Financial Holding Co. Ltd.		928,000		2,417,491
Giant Manufacturing Co. Ltd.		10,000		119,462
Globalwafers Co. Ltd.		25,000		754,795
Hiwin Technologies Corp.		5,000		66,125
Hon Hai Precision Industry Co. Ltd.		1,740,200		7,109,845
Hotai Motor Co. Ltd.		2,600		53,430
Hua Nan Financial Holdings Co. Ltd.		1,402,831		923,030
Innolux Corp.		1,262,000		1,104,702
Inventec Corp.		298,000		277,268
Largan Precision Co. Ltd.		1,000		109,073
Lite-On Technology Corp.		348,000		830,511
MediaTek Inc.		200,000		7,153,871
Mega Financial Holding Co. Ltd.		1,508,000		1,799,250
Micro-Star International Co. Ltd.		116,000		689,534
Nan Ya Plastics Corp.		696,000		2,119,512
Nanya Technology Corp.		261,000		768,850
Novatek Microelectronics Corp.		60,000		1,152,212
Pegatron Corp.		348,000		921,837
Pou Chen Corp.		356,000		482,987
Powertech Technology Inc.		171,000		659,528
President Chain Store Corp.		43,000		410,224
Quanta Computer Inc.		464,000		1,500,893
Realtek Semiconductor Corp.		64,000		1,149,929
Shanghai Commercial & Savings Bank Ltd. (The		580,437		950,289
Shin Kong Financial Holding Co. Ltd.		1,628,930		589,996
Silergy Corp.		10,000		1,321,457
SinoPac Financial Holdings Co. Ltd.		1,624,259		793,029
Synnex Technology International Corp.		232,000		499,980
Taishin Financial Holding Co. Ltd.		1,631,130		870,051
Taiwan Business Bank		1,624,755		563,100
Taiwan Cement Corp.		700,983		1,304,111
Taiwan Cooperative Financial Holding Co. Ltd.		1,398,443		1,056,201
Taiwan High Speed Rail Corp.		348,000		369,342
Taiwan Mobile Co. Ltd.		233,000		844,127
Taiwan Semiconductor Manufacturing Co. Ltd.		3,336,000		71,670,892
Unimicron Technology Corp.		232,000		938,064
Uni-President Enterprises Corp		696,000		1,846,079
United Microelectronics Corp.		1,624,000		3,087,047
Vanguard International Semiconductor Corp		119,000		505,576
Walsin Technology Corp.		85,000		641,802
Win Semiconductors Corp.		4,000		46,924
Winbond Electronics Corp.		573,000		703,115
Wistron Corp.		464,598		514,970
WPG Holdings Ltd.		356,520		666,213
Yageo Corp.		7,000		127,068
Yang Ming Marine Transport Corp.(a)		218,000		803,566
Yuanta Financial Holding Co. Ltd.		1,516,320		1,398,962
Zhen Ding Technology Holding Ltd.		174,000		607,543
				158,363,545
Thailand — 2.8%
Advanced Info Service PCL, NVDR		180,500		972,794
Airports of Thailand PCL, NVDR(d)		661,200		1,332,043
Asset World Corp. PCL, NVDR(a)		2,101,200		320,779
B Grimm Power PCL, NVDR		15,100		21,378
Bangkok Bank PCL, Foreign		24,900		92,042
Bangkok Commercial Asset Management
PCL, NVDR(d)		447,900		270,651

5 

Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets ex China ETF
May 31, 2021	(Percentages shown are based on Net Assets)

Security	Shares		Value
Thailand (continued)
Bangkok Dusit Medical Services PCL, NVDR		1,415,200	$	976,931
Berli Jucker PCL, NVDR(d)		220,400		244,842
Bumrungrad Hospital PCL, NVDR		69,600		293,652
Central Pattana PCL, NVDR		348,000		564,776
Central Retail Corp. PCL, NVDR		322,700		342,815
Charoen Pokphand Foods PCL, NVDR		336,400		293,106
CP ALL PCL, NVDR		838,400		1,628,616
Delta Electronics Thailand PCL, NVDR		40,500		753,973
Energy Absolute PCL, NVDR		243,600		469,260
Global Power Synergy PCL, NVDR		116,000		270,686
Gulf Energy Development PCL, NVDR		518,600		559,950
Home Product Center PCL, NVDR		1,114,100		495,053
Intouch Holdings PCL, NVDR		266,800		548,221
Krungthai Card PCL, NVDR(d)		116,000		270,713
Land & Houses PCL, NVDR		1,511,700		389,321
Minor International PCL, NVDR(a)		595,500		609,611
Muangthai Capital PCL, NVDR		137,800		272,951
Osotspa PCL, NVDR		139,200		164,647
PTT Exploration & Production PCL, NVDR		220,400		834,719
PTT Global Chemical PCL, NVDR		359,600		726,732
PTT Oil & Retail Business, NVDR		536,000		514,145
PTT PCL, NVDR		1,659,300		2,094,813
Ratch Group PCL, NVDR		162,400		266,205
Siam Cement PCL (The), NVDR		116,000		1,625,690
Siam Commercial Bank PCL (The), NVDR		139,200		456,204
Sri Trang Gloves Thailand PCL, NVDR		150,800		211,120
Srisawad Corp. PCL, NVDR		162,400		390,405
Thai Oil PCL, NVDR		185,600		349,882
Thai Union Group PCL, NVDR		464,000		264,150
				19,892,876
Turkey — 0.4%
Akbank TAS		391,929		240,695
Aselsan Elektronik Sanayi Ve Ticaret AS		145,833		253,674
BIM Birlesik Magazalar AS		61,697		460,616
Eregli Demir ve Celik Fabrikalari TAS		223,532		502,795
Ford Otomotiv Sanayi AS		9,484		192,542
KOC Holding AS		159,081		344,543
Turkcell Iletisim Hizmetleri AS		134,524		248,765
Turkiye Garanti Bankasi AS		271,976		253,695
Turkiye Is Bankasi AS, Class C		167,733		99,672
Turkiye Petrol Rafinerileri AS(a)		7,085		80,521
Turkiye Sise ve Cam Fabrikalari AS		57,007		51,559
				2,729,077
United Arab Emirates — 1.0%
Abu Dhabi Commercial Bank PJSC		365,400		677,086
Aldar Properties PJSC		552,044		549,883
Dubai Islamic Bank PJSC		247,428		321,344
Emaar Malls PJSC(a)		15,772		8,452
Emaar Properties PJSC		526,524		568,312
Emirates NBD Bank PJSC		359,832		1,351,886
Emirates Telecommunications Group Co. PJSC		260,249		1,534,648
First Abu Dhabi Bank PJSC		473,962		2,175,948
				7,187,559
Total Common Stocks — 96.2%
(Cost: $632,568,228)				695,635,037

Security		Shares/ Par	Value
Preferred Stocks
Brazil — 2.1%
Alpargatas SA, Preference Shares, NVS		81,200	$	736,794
Banco Bradesco SA, Preference Shares, NVS		665,544		3,381,546
Bradespar SA, Preference Shares, NVS		30,790		420,699
Braskem SA, Class A, Preference Shares, NVS		6,322		60,737
Centrais Eletricas Brasileiras SA, Class B, Preference Shares, NVS		23,200		193,997
Cia. Energetica de Minas Gerais, Preference Shares, NVS		42,044		109,554
Cia. Paranaense de Energia, Preference Shares, NVS		134,372		164,494
Gerdau SA, Preference Shares, NVS		150,800		952,537
Itau Unibanco Holding SA, Preference Shares, NVS		685,328		3,884,450
Itausa SA, Preference Shares, NVS		601,842		1,254,102
Lojas Americanas SA, Preference Shares, NVS		144,581		551,781
Petroleo Brasileiro SA, Preference Shares, NVS		638,000		3,289,341
				15,000,032
Chile — 0.1%
Sociedad Quimica y Minera de Chile SA, Class B,
Preference Shares, NVS		19,542		875,277
Colombia — 0.1%
Bancolombia SA, Preference Shares, NVS		58,348		434,306
Russia — 0.1%
Surgutneftegas PJSC, Preference Shares, NVS		1,537,200		977,309
South Korea — 1.1%
Hyundai Motor Co., Series 2, Preference Shares, NVS.		5,223		523,205
LG Chem Ltd., Preference Shares, NVS		299		99,577
Samsung Electronics Co. Ltd., Preference Shares, NVS		115,043		7,525,238
				8,148,020
Total Preferred Stocks — 3.5%
(Cost: $23,718,666)				25,434,944
Warrants
Thailand — 0.0%
Minor International PCL (Expires 02/15/24)(a)		11,659		1,567
Minor International PCL (Expires 05/05/23)(a)		12,865		2,009
				3,576
Total Warrants — 0.0%
(Cost: $0)				3,576
Corporate Bonds & Notes
India — 0.0%
Britannia Industries Ltd., 5.50%, 06/03/24 (e)	INR	418,238		5,773
Total Corporate Bonds & Notes — 0.0%
(Cost: $5,747)				5,773

6 

Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets ex China ETF
May 31, 2021	(Percentages shown are based on Net Assets)

Security	Shares		Value
Short-Term Investments
Money Market Funds — 0.2%
BlackRock Cash Funds: Institutional, SL Agency
Shares, 0.06%(f)(g)(h)		1,657,136	$	1,658,130
Total Short-Term Investments — 0.2%
(Cost: $1,658,086)				1,658,130
Total Investments in Securities — 99.9%
(Cost: $657,950,727)				722,737,460
Other Assets, Less Liabilities — 0.1%				799,826
Net Assets — 100.0%			$	723,537,286

^(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)	All or a portion of this security is on loan.
(e)	Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(f)	Affiliate of the Fund.
(g)	Annualized 7-day yield as of period-end.
(h)	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  05/31/21		Income				Capital  Gain  Distributions  from  Underlying  Funds
BlackRock Cash Funds: Institutional, SL Agency Shares		$	—		$	1,659,660	(a)		$	—			$	(1,574	)		$	44			$	1,658,130		1,657,136		$	25,191	(b)		$	—
BlackRock Cash Funds: Treasury, SL Agency Shares(c)			110,000			—				(110,000	)(a)			—				—				—		—			41				—
iShares MSCI India ETF(c)			10,289,973			59,512,139				(71,974,324	)			2,920,281				(748,069	)			—		—			14,852				—
													$	2,918,707			$	(748,025	)		$	1,658,130				$	40,084			$	—

^(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
MSCI Emerging Markets E-Mini Index		21	06/18/21	$	1,429	$	46,004

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.

7 

Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets ex China ETF
May 31, 2021

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, 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	$	110,637,688	$	584,997,349	$	—	$	695,635,037
Preferred Stocks		16,309,615		9,125,329		—		25,434,944
Warrants		3,576		—		—		3,576
Corporate Bonds & Notes		—		—		5,773		5,773
Money Market Funds		1,658,130		—		—		1,658,130
	$	128,609,009	$	594,122,678	$	5,773	$	722,737,460
Derivative financial instruments(a)
Assets
Futures Contracts	$	46,004	$	—	$	—	$	46,004

^(a) 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
NVDR	Non-Voting Depositary Receipt
NVS	Non-Voting Shares
PJSC	Public Joint Stock Company

Currency Abbreviations

INR Indian Rupee

8