Schedule of Investments (unaudited)	iShares® J.P. Morgan EM High Yield Bond ETF
July 31, 2021	(Percentages shown are based on Net Assets)

	Par
Security		(000)		Value
Corporate Bonds & Notes
Argentina — 0.9%
Agua y Saneamientos Argentinos SA, 6.63%, 02/01/23 (Call 08/09/21)(a)	$	150	$	82,247
Arcor SAIC, 6.00%, 07/06/23(a)		300		296,681
Arcos Dorados Holdings Inc., 5.88%, 04/04/27 (Call 04/04/22)(a)(b)		200		209,725
MercadoLibre Inc., 3.13%, 01/14/31 (Call 10/14/30)		400		391,900
MSU Energy SA/UGEN SA/UENSA SA, 6.88%, 02/01/25 (Call 02/01/22)(a)		300		231,900
Pampa Energia SA, 7.50%, 01/24/27 (Call 01/24/22)(a)		400		357,500
Transportadora de Gas del Sur SA, 6.75%, 05/02/25 (Call 05/02/22)(a)		300		281,775
YPF SA
6.95%, 07/21/27(a)		450		315,928
7.00%, 12/15/47 (Call 06/15/47)(a)		300		194,306
8.50%, 07/28/25(a)		600		468,113
8.75%, 04/04/24(a)		491		435,855
YPF Sociedad Anonima
1.50%, 09/30/33		300		157,650
2.50%, 06/30/29		375		245,461
9.00%, 02/12/26		400		336,000
				4,005,041
Azerbaijan — 0.4%
International Bank of Azerbaijan OJSC, 3.50%, 09/01/24(a)		550		551,547
Southern Gas Corridor CJSC, 6.88%, 03/24/26(a)		1,000		1,182,375
				1,733,922
Bahrain — 0.3%
BBK BSC, 5.50%, 07/09/24(a)		400		421,575
GFH Sukuk Ltd., 7.50%, 01/28/25(a)		200		202,225
Oil and Gas Holding Co. BSCC (The), 7.50%, 10/25/27(a)		600		663,675
				1,287,475
Brazil — 10.7%
Adecoagro SA, 6.00%, 09/21/27		200		211,100
Amaggi Luxembourg International Sarl, 5.25%, 01/28/28		400		417,600
Atento Luxco 1 SA, 8.00%, 02/10/26.		300		330,465
Azul Investments LLP, 7.25%, 06/15/26 (Call 06/15/24)(b)(c)		400		374,810
B2W Digital Lux Sarl, 4.38%, 12/20/30 (Call 09/20/30)(a)(b)		400		399,825
Banco Bradesco SA/Cayman Islands, 3.20%, 01/27/25(a)		400		410,125
Banco BTG Pactual SA/Cayman Islands
2.75%, 01/11/26 (Call 12/11/25)(a)(b)		200		193,870
4.50%, 01/10/25 (Call 12/10/24)(a)		600		621,300
7.75%, 02/15/29 (Call 02/15/24)(a)(d)		200		214,163
Banco do Brasil SA/Cayman
4.63%, 01/15/25(a)		600		635,490
4.63%, 10/29/49(a)		600		651,300
4.75%, 03/20/24(a)		400		424,880
4.88%, 04/19/23(a)		400		421,325
6.25%, (Call 04/15/24)(a)(d)(e)		1,000		1,008,000
9.00%, (Call 06/18/24)(a)(b)(d)(e)		1,200		1,337,850
Banco Safra SA/Cayman Islands, 4.13%, 02/08/23(a)(b)		200		206,475
Banco Votorantim SA, 4.38%, 07/29/25(a)		400		414,200
Braskem America Finance Co., 7.13%, 07/22/41 (Call 01/22/41)(a)		400		510,500
Braskem Finance Ltd., 6.45%, 02/03/24.		400		443,575
Braskem Netherlands Finance BV
4.50%, 01/10/28 (Call 10/10/27)(a)		600		633,030
4.50%, 01/31/30(a)(b)		800		841,000
5.88%, 01/31/50(a)		400		445,500
8.50%, 01/23/81 (Call 10/24/25)(a)(d)		200		230,537

	Par
Security		(000)		Value
Brazil (continued)
BRF SA
4.88%, 01/24/30 (Call 10/24/29)(a)	$	400	$	414,100
5.75%, 09/21/50 (Call 03/21/50)(a)		400		405,450
Cemig Geracao e Transmissao SA, 9.25%, 12/05/24 (Call 12/05/23)(a)		800		918,000
Centrais Eletricas Brasileiras SA
3.63%, 02/04/25(a)		200		206,400
4.63%, 02/04/30(a)		400		409,075
Cosan Luxembourg SA, 7.00%, 01/20/27 (Call 01/20/22)(a)		600		633,112
Cosan SA, 5.50%, 09/20/29 (Call 09/20/24)(a)		400		430,200
CSN Inova Ventures, 6.75%, 01/28/28 (Call 01/28/24)(a)		800		880,000
CSN Islands XII Corp., 7.00%, (Call 09/23/21)(a)(b)(e)		600		600,300
CSN Resources SA
4.63%, 06/10/31 (Call 06/10/26)(b)(c)		400		413,500
7.63%, 04/17/26 (Call 04/17/22)(a)(b)		200		212,750
Embraer Netherlands Finance BV
5.05%, 06/15/25		600		628,920
5.40%, 02/01/27		300		316,575
FS Luxembourg Sarl, 10.00%, 12/15/25.		400		446,450
Globo Comunicacao e Participacoes SA, 4.88%, 01/22/30(a)		200		206,538
Gol Finance SA, 7.00%, 01/31/25(a)		300		277,312
Guara Norte Sarl, 5.20%, 06/15/34		589		606,878
Hidrovias International Finance SARL, 4.95%, 02/08/31 (Call 02/08/26)(a)		200		203,000
InterCement Financial Operations BV, 5.75%, 07/17/24 (Call 08/30/21)(a)		400		382,125
Itau Unibanco Holding SA/Cayman Island
3.25%, 01/24/25(a)		400		408,325
3.88%, 04/15/31 (Call 01/15/26)(a)(d)		200		197,813
4.50%, 11/21/29 (Call 11/21/24)(a)(b)(d)		400		407,825
4.63%, (Call 02/27/25)(a)(d)(e)		400		382,450
5.13%, 05/13/23(a)(b)		920		966,460
6.13%, (Call 12/12/22)(a)(d)(e)		600		605,310
6.50%, (Call 03/19/23)(a)(b)(d)(e)		400		409,325
JBS Finance Luxembourg Sarl, 3.63%, 01/15/32 (Call 01/15/27)(b)(c)		600		600,000
JBS USA Food Co.
5.75%, 01/15/28(a)		600		632,700
7.75%, 01/15/26(a)		400		423,500
JBS USA LUX SA/JBS USA Finance Inc., 6.75%, 02/15/28 (Call 02/15/23)(a)(b)		500		546,969
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance Inc., 3.75%, 12/01/31 (Call 12/01/26)(c)		200		205,500
JSM Global Sarl, 4.75%, 10/20/30(a)		200		206,975
Klabin Austria GmbH
5.75%, 04/03/29 (Call 01/03/29)(a)		400		456,325
7.00%, 04/03/49 (Call 10/03/48)(a)		400		506,720
Klabin Finance SA, 4.88%, 09/19/27(a)		200		221,770
Light Servicos de Eletricidade SA/Light Energia SA, 4.38%, 06/18/26 (Call 06/18/24)(c)		400		404,120
MARB BondCo PLC, 3.95%, 01/29/31 (Call 01/29/26)(a)		800		773,600
MC Brazil Downstream Trading SARL, 7.25%, 06/30/31(c)		800		831,760
Minerva Luxembourg SA
4.38%, 03/18/31 (Call 03/18/26)(c)		400		392,625
4.38%, 03/18/31(a)		200		196,250
Movida Europe SA, 5.25%, 02/08/31 (Call 02/08/26)(a)		200		202,225
Natura Cosmeticos SA
4.13%, 05/03/28 (Call 03/03/28)(c)		400		409,700
4.13%, 05/03/28 (Call 03/03/28)(a)		200		204,850

 1

Schedule of Investments (unaudited) (continued)	iShares® J.P. Morgan EM High Yield Bond ETF
July 31, 2021	(Percentages shown are based on Net Assets)

	Par
Security		(000)		Value
Brazil (continued)
NBM U.S. Holdings Inc.
6.63%, 08/06/29 (Call 08/06/24)(a)	$	400	$	447,075
7.00%, 05/14/26 (Call 05/14/22)(a)		400		426,960
Odebrecht Drilling Norbe VIII/IX Ltd., 7.35%, (7.35% PIK), 12/01/26 (Call 08/30/21)(a)(b)(f)		479		254,253
Odebrecht Holdco Finance Ltd., 0.00%, 09/10/58 (Call 08/30/21)(a)(g)		800		7,600
Odebrecht Offshore Drilling Finance Ltd., 7.72%, (7.72% PIK), 12/01/26 (Call 12/01/21)(a)(f)		856		206,515
Oi SA, 10.00%, (12.00% PIK), 07/27/25(f)		800		786,400
Petrobras Global Finance BV
4.38%, 05/20/23		400		421,800
5.09%, 01/15/30(b)		865		933,837
5.30%, 01/27/25		500		560,094
5.50%, 06/10/51 (Call 12/10/50)		700		688,625
5.60%, 01/03/31 (Call 10/03/30)		1,000		1,111,750
5.75%, 02/01/29		500		564,000
6.00%, 01/27/28		918		1,045,143
6.25%, 03/17/24		200		223,975
6.75%, 01/27/41		600		700,050
6.75%, 06/03/50 (Call 12/03/49)		400		457,000
6.85%, 06/05/2115(b)		1,100		1,221,918
6.88%, 01/20/40		500		591,500
6.90%, 03/19/49		600		702,030
7.25%, 03/17/44		786		945,656
7.38%, 01/17/27		651		789,110
8.75%, 05/23/26		379		483,793
Petrorio Luxembourg Sarl, 6.13%, 06/09/26 (Call 06/09/24)(c)		400		411,540
Rede D’or Finance Sarl
4.50%, 01/22/30 (Call 10/22/29)(a)		200		203,313
4.95%, 01/17/28 (Call 10/17/27)(a)		800		845,650
Rumo Luxembourg Sarl
5.25%, 01/10/28 (Call 01/10/24)(a)		400		426,420
5.88%, 01/18/25 (Call 01/18/22)(a)(b)		200		208,538
Simpar Europe SA, 5.20%, 01/26/31		400		408,450
StoneCo Ltd., 3.95%, 06/16/28 (Call 05/16/28)(c)		300		297,000
Ultrapar International SA
5.25%, 10/06/26(a)		400		440,575
5.25%, 06/06/29(a)(b)		400		431,825
Unigel Luxembourg SA, 8.75%, 10/01/26 (Call 10/01/22)(a)(b)		200		215,725
Usiminas International Sarl, 5.88%, 07/18/26 (Call 07/18/23)(a)		400		429,950
XP Inc., 3.25%, 07/01/26 (Call 06/01/26)(c)		400		390,620
				48,839,392
Canada — 0.2%
Shui On Development Holding Ltd., 5.75%, 11/12/23 (Call 11/12/21)(a)		600		612,750
Turkiye Vakiflar Bankasi TAO, 6.50%, 01/08/26(a)		400		410,125
				1,022,875
Chile — 0.3%
AES Gener SA, 7.13%, 03/26/79 (Call 04/07/24)(a)(d)		400		420,950
Empresa Electrica Guacolda SA, 4.56%, 04/30/25 (Call 01/30/25)(a)		200		111,688
Kenbourne Invest SA, 6.88%, 11/26/24 (Call 11/26/21)(a)		200		211,163
VTR Comunicaciones SpA, 5.13%, 01/15/28 (Call 07/15/23)(a)(b)		400		417,400
VTR Finance NV, 6.38%, 07/15/28 (Call 07/15/23)(a)		200		211,912
				1,373,113

	Par
Security		(000)		Value
China — 4.5%
Agile Group Holdings Ltd., 7.88%, (Call 07/31/24)(a)(d)(e)	$	800	$	755,900
Bank of Communications Co. Ltd., 3.80%, (Call 11/18/25)(a)(d)(e)		1,700		1,769,381
Beijing Enterprises Water Capital Management Holdings Ltd., 4.95%, 05/02/23(a)		200		205,287
Central Plaza Development Ltd., 5.75%, (Call 11/14/24)(a)(d)(e)		200		180,725
China Evergrande Group
7.50%, 06/28/23 (Call 08/30/21)(a)		700		297,500
8.75%, 06/28/25 (Call 08/30/21)(a)		2,400		990,000
10.50%, 04/11/24 (Call 04/11/22)(a)		400		164,000
China SCE Group Holdings Ltd.
7.00%, 05/02/25 (Call 05/02/23)(a)		200		191,250
7.38%, 04/09/24 (Call 04/09/22)(a)		400		399,950
China Shenhua Overseas Capital Co. Ltd., 3.88%, 01/20/25(a)		400		417,700
CIFI Holdings Group Co. Ltd.
5.95%, 10/20/25 (Call 07/20/23)(a)		400		407,950
6.00%, 07/16/25 (Call 01/16/23)(a)		200		203,975
6.45%, 11/07/24 (Call 11/07/22)(a)		400		414,700
Easy Tactic Ltd.
5.88%, 02/13/23 (Call 08/30/21)(a)		400		290,500
11.75%, 08/02/23(a)		200		149,100
Easy Trade Global Co.Ltd., 4.00%, 11/10/25(a)		200		203,350
ENN Clean Energy International Investment Ltd.
3.38%, 05/12/26 (Call 05/12/24)(c)		200		203,194
3.38%, 05/12/26 (Call 05/12/24)(a)		200		203,194
Fortune Star BVI Ltd.
5.00%, 05/18/26 (Call 05/18/24)(a)		400		396,125
5.95%, 10/19/25 (Call 10/19/23)(a)		400		408,325
Franshion Brilliant Ltd., 5.75%, (Call 01/17/22)(a)(d)(e)		200		193,725
Greenland Global Investment Ltd., 5.88%, 07/03/24(a)		200		150,288
Huarong Finance 2017 Co. Ltd.
4.00%, (Call 11/07/22)(a)(d)(e)		400		270,500
4.50%, (Call 01/24/22)(a)(d)(e)		700		546,000
Huarong Finance II Co. Ltd., 2.88%, (Call 09/14/21)(a)(d)(e)		200		195,500
Kaisa Group Holdings Ltd.
9.38%, 06/30/24 (Call 08/30/21)(a)		1,150		891,825
9.75%, 09/28/23 (Call 09/28/22)(a)		400		327,325
9.95%, 07/23/25 (Call 01/23/23)(a)		400		298,200
10.50%, 01/15/25 (Call 01/15/23)(a)		200		153,725
10.88%, 07/23/23 (Call 08/30/21)(a)		400		338,950
11.25%, 04/16/25 (Call 04/16/23)(a)		400		311,825
11.70%, 11/11/25 (Call 11/11/23)(a)		450		347,625
11.95%, 11/12/23 (Call 11/12/21)(a)		400		343,075
KWG Group Holdings Ltd., 5.88%, 11/10/24 (Call 11/10/21)(a)		400		383,825
Lenovo Group Ltd.
4.75%, 03/29/23(a)		400		420,700
5.88%, 04/24/25(a)		600		680,737
RKPF Overseas 2020 A Ltd., 5.20%, 01/12/26  (Call 01/12/24)(a)		200		196,500
Scenery Journey Ltd., 13.75%, 11/06/23 (Call 11/06/21)(a)		300		107,775
Shui On Development Holding Ltd.
6.15%, 08/24/24 (Call 08/24/22)(a)		200		205,000
6.40%, (Call 06/20/22)(a)(d)(e)		200		200,975
Sino-Ocean Land Treasure III Ltd., 4.90%, (Call 09/21/22)(a)(d)(e)		400		346,825
Sunac China Holdings Ltd.
5.95%, 04/26/24 (Call 01/26/23)(a)		400		364,000
6.50%, 07/09/23 (Call 07/09/22)(a)		200		193,000

2

Schedule of Investments (unaudited) (continued)	iShares® J.P. Morgan EM High Yield Bond ETF
July 31, 2021	(Percentages shown are based on Net Assets)

	Par
Security		(000)		Value
China (continued)
6.50%, 01/10/25 (Call 01/10/23)(a)	$	400	$	362,575
6.50%, 01/26/26 (Call 01/26/24)(a)		200		177,563
6.65%, 08/03/24 (Call 08/03/22)(a)		600		550,050
7.00%, 07/09/25 (Call 07/09/23)(a)		400		363,000
8.35%, 04/19/23 (Call 08/30/21)(a)		400		398,575
Times China Holdings Ltd.
5.55%, 06/04/24 (Call 06/04/23)(a)		200		188,500
6.75%, 07/08/25 (Call 07/08/23)(a)		400		381,950
Wanda Properties International Co. Ltd., 7.25%, 01/29/24(a)		400		387,575
Well Hope Development Ltd., 3.88%, (Call 10/19/22)(a)(d)(e)		600		611,737
Yancoal International Resources Development Co. Ltd., 3.50%, 11/04/23(a)		400		400,700
Yanlord Land HK Co. Ltd., 5.13%, 05/20/26 (Call 05/20/24)(a)		400		400,000
Yuzhou Group Holdings Co. Ltd.
6.35%, 01/13/27 (Call 01/13/25)(a)		200		131,663
7.38%, 01/13/26 (Call 01/13/24)(a)		400		274,000
8.50%, 02/26/24 (Call 02/26/22)(a)		400		328,000
				20,675,894
Colombia — 2.6%
AI Candelaria Spain SLU, 5.75%, 06/15/33 (Call 06/15/28)(c)		400		408,625
Banco Davivienda SA, 6.65%, (Call 04/22/31)(c)(d)(e)		200		210,000
Banco de Bogota SA
4.38%, 08/03/27 (Call 05/03/27)(a)		200		208,000
5.38%, 02/19/23(a)		200		208,162
6.25%, 05/12/26(a)		800		872,200
Bancolombia SA
3.00%, 01/29/25 (Call 12/29/24)		400		404,000
4.63%, 12/18/29 (Call 12/18/24)(d)		400		401,900
4.88%, 10/18/27 (Call 10/18/22)(d)		400		402,575
Colombia Telecomunicaciones SA ESP, 4.95%, 07/17/30  (Call 04/17/30)(a)(b)		200		208,038
Ecopetrol SA
4.13%, 01/16/25		800		836,840
5.88%, 09/18/23		1,200		1,290,180
5.88%, 05/28/45		1,500		1,588,770
6.88%, 04/29/30 (Call 01/29/30)		1,400		1,679,580
7.38%, 09/18/43		100		121,955
Geopark Ltd., 5.50%, 01/17/27 (Call 01/17/24)(a)		200		202,400
Grupo Aval Ltd., 4.38%, 02/04/30 (Call 11/04/29)(a)		600		591,570
Grupo de Inversiones Suramericana SA, 5.50%, 04/29/26		400		431,820
Millicom International Cellular SA
4.50%, 04/27/31 (Call 04/27/26)(a)		400		416,000
6.25%, 03/25/29 (Call 03/25/24)(a)		360		392,692
NagaCorp Ltd., 7.95%, 07/06/24 (Call 07/06/22)(a)		200		202,350
Oleoducto Central SA, 4.00%, 07/14/27 (Call 05/14/27)(a)		200		205,770
SierraCol Energy Andina LLC, 6.00%, 06/15/28 (Call 06/15/24)(c)		200		200,063
Termocandelaria Power Ltd., 7.88%, 01/30/29 (Call 01/30/23)(a)(b)		370		390,997
				11,874,487
Congo — 0.1%
HTA Group Ltd./Mauritius, 7.00%, 12/18/25 (Call 06/18/22)(a)		400		424,800
Egypt — 0.1%
Embraer Netherlands Finance BV, 6.95%, 01/17/28(a)		400		451,200
Ghana — 0.4%
Kosmos Energy Ltd., 7.13%, 04/04/26 (Call 04/04/22)(a)		400		394,125

	Par
Security		(000)		Value
Ghana (continued)
Tullow Oil PLC
7.00%, 03/01/25 (Call 08/31/21)(a)	$	400	$	346,125
10.25%, 05/15/26 (Call 05/06/23)(c)		1,000		1,039,250
				1,779,500
Guatemala — 0.2%
Central American Bottling Corp., 5.75%, 01/31/27 (Call 01/31/22)(a)		400		415,700
Investment Energy Resources Ltd., 6.25%, 04/26/29 (Call 04/26/25)(c)		400		433,200
				848,900
Hong Kong — 2.4%
Bank of Communications Hong Kong Ltd., 3.73%, (Call 03/03/25)(a)(d)(e)		250		256,953
Bank of East Asia Ltd. (The)
5.63%, (Call 05/18/22)(a)(d)(e)		400		409,825
5.83%, (Call 10/21/25)(a)(d)(e)		500		537,500
5.88%, (Call 09/19/24)(a)(d)(e)		250		267,078
CAS Capital No. 1 Ltd., 4.00%, (Call 07/12/26)(a)(d)(e)		400		402,000
Cathay Pacific MTN Financing HK Ltd., 4.88%, 08/17/26(a)		400		399,500
Celestial Dynasty Ltd., 4.25%, 06/27/29(a)		800		840,150
Celestial Miles Ltd., 5.75%, (Call 01/31/24)(a)(d)(e)		200		211,350
China CITIC Bank International Ltd.
4.25%, (Call 10/11/21)(a)(d)(e)		200		200,913
7.10%, (Call 11/06/23)(a)(d)(e)		400		437,700
FWD Group Ltd.
0.00%, (Call 06/15/22)(a)(d)(e)(g)		200		189,975
5.75%, 07/09/24(a)		200		206,350
6.38%, (Call 09/13/24)(a)(d)(e)		800		824,400
Henderson Land MTN Ltd., 2.38%, 05/27/25(a)		400		404,075
Li & Fung Ltd., 5.25%, (Call 11/03/21)(a)(e)		200		147,475
Nanyang Commercial Bank Ltd., 5.00%, (Call 06/02/22)(a)(d)(e)		600		603,750
New World China Land Ltd., 4.75%, 01/23/27(a)		400		430,950
NWD Finance BVI Ltd.
4.13%, (Call 03/10/28)(a)(d)(e)		400		403,000
4.80%, (Call 09/09/23)(a)(e)		200		200,663
5.25%, (Call 03/22/26)(a)(d)(e)		600		641,737
5.75%, (Call 10/05/21)(a)(e)		400		402,075
6.25%, (Call 03/07/24)(a)(e)		800		837,900
NWD MTN Ltd.
4.13%, 07/18/29(a)		800		838,900
4.50%, 05/19/30(a)		200		214,287
PCPD Capital Co., 5.13%, 06/18/26		400		406,125
Seaspan Corp., 5.50%, 08/01/29 (Call 08/01/24)(c)		400		399,064
				11,113,695
India — 1.9%
ABJA Investment Co. Pte Ltd.
5.45%, 01/24/28(a)		600		633,744
5.95%, 07/31/24(a)		425		451,244
Adani Green Energy UP Ltd./Prayatna Developers Pvt Ltd./Parampujya Solar Energy, 6.25%, 12/10/24(a)		200		217,287
Continuum Energy Levanter, 4.50%, 02/09/27		400		401,450
Delhi International Airport Ltd.
6.13%, 10/31/26(a)		200		196,475
6.45%, 06/04/29(a)		400		387,700
Future Retail Ltd., 5.60%, 01/22/25 (Call 01/22/23)(a)		200		143,225
Greenko Dutch BV
3.85%, 03/29/26 (Call 03/29/23)(a)		200		201,162
3.85%, 03/29/26 (Call 03/29/23)(c)		400		402,325

 3

Schedule of Investments (unaudited) (continued)	iShares® J.P. Morgan EM High Yield Bond ETF
July 31, 2021	(Percentages shown are based on Net Assets)

	Par
Security		(000)		Value
India (continued)
Greenko Investment Co., 4.88%, 08/16/23 (Call 08/30/21)(a)	$	200	$	201,537
Greenko Solar Mauritius Ltd.
5.55%, 01/29/25(a)		400		405,125
5.95%, 07/29/26 (Call 07/29/22)(a)		200		211,975
JSW Hydro Energy Ltd.
4.13%, 05/18/31 (Call 05/18/26)(c)		200		198,313
4.13%, 05/18/31 (Call 05/18/26)(a)		200		198,313
JSW Steel Ltd., 5.95%, 04/18/24(a)		400		418,700
Network i2i Ltd.
3.98%, (Call 03/03/26)(a)(d)(e)		200		197,975
5.65%, (Call 01/15/25)(a)(d)(e)		600		630,487
Periama Holdings LLC/DE, 5.95%, 04/19/26(a)		200		211,161
ReNew Power Synthetic, 6.67%, 03/12/24 (Call 08/31/21)(a)		200		207,250
ReNew Wind Energy AP2/ReNew Power Pvt Ltd. other 9 Subsidiaries, 4.50%, 07/14/28 (Call 10/14/23)(c)		400		403,500
Shriram Transport Finance Co. Ltd., 4.40%, 03/13/24.		400		396,950
Vedanta Resources Finance II PLC
8.95%, 03/11/25 (Call 09/11/24)(c)		600		565,500
8.95%, 03/11/25 (Call 09/11/24)(a)		200		188,500
9.25%, 04/23/26 (Call 04/23/23)(a)		200		164,163
13.88%, 01/21/24 (Call 12/21/22)(a)		400		421,200
Vedanta Resources Ltd.
6.13%, 08/09/24 (Call 08/31/21)(a)		600		477,675
7.13%, 05/31/23(a)		300		272,025
				8,804,961
Indonesia — 0.7%
Adaro Indonesia PT, 4.25%, 10/31/24 (Call 10/31/22)(a)		500		507,125
Bank Negara Indonesia Persero Tbk PT, 3.75%, 03/30/26(a)		200		204,084
Indika Energy Capital III Pte Ltd., 5.88%, 11/09/24 (Call 11/09/21)(a)		800		796,900
Medco Bell Pte Ltd., 6.38%, 01/30/27 (Call 01/30/24)(a)		200		201,413
Medco Oak Tree Pte Ltd., 7.38%, 05/14/26  (Call 05/14/23)(a)(b)		800		850,150
Saka Energi Indonesia PT, 4.45%, 05/05/24(a)		400		366,450
Star Energy Geothermal Wayang Windu Ltd., 6.75%, 04/24/33 (Call 04/24/26)(a)		355		401,852
				3,327,974
Israel — 2.1%
Energean Israel Finance Ltd.
4.50%, 03/30/24 (Call 12/30/23)(c)		300		305,944
4.88%, 03/30/26 (Call 12/30/25)(c)		300		306,900
5.38%, 03/30/28 (Call 09/30/27)(c)		400		408,100
5.88%, 03/30/31 (Call 09/30/30)(c)		300		307,125
Leviathan Bond Ltd.
5.75%, 06/30/23 (Call 03/30/23)(c)		200		208,288
6.13%, 06/30/25 (Call 03/30/25)(c)		300		326,400
6.50%, 06/30/27 (Call 12/30/26)(c)		400		440,575
6.75%, 06/30/30 (Call 12/30/29)(c)		300		336,150
Teva Pharmaceutical Finance Co. LLC, 6.15%, 02/01/36(b)		500		550,000
Teva Pharmaceutical Finance Netherlands III BV
2.80%, 07/21/23		1,675		1,655,737
3.15%, 10/01/26		2,000		1,915,450
4.10%, 10/01/46		1,050		912,187
6.00%, 04/15/24 (Call 01/15/24)		600		629,250
6.75%, 03/01/28 (Call 12/01/27)(b)		600		666,488
7.13%, 01/31/25 (Call 10/31/24)		600		657,045
				9,625,639

	Par
Security		(000)		Value
Jamaica — 0.3%
Digicel Group Holdings Ltd., 10.00%, (2.00% PIK), 04/01/24 (Call 08/16/21)(f)	$	668	$	649,259
Digicel International Finance Ltd./Digicel international Holdings Ltd., 8.75%, 05/25/24 (Call 08/16/21)(a)		550		571,600
Digicel Ltd., 6.75%, 03/01/23 (Call 08/16/21)(a)		400		379,000
				1,599,859
Kuwait — 0.2%
Burgan Bank SAK, 5.75%, (Call 07/09/24)(a)(d)(e)		400		405,075
Kuwait Projects Co. SPC Ltd.
4.23%, 10/29/26(a)		400		393,450
4.50%, 02/23/27(a)		200		194,725
				993,250
Luxembourg — 0.4%
Altice Financing SA
5.00%, 01/15/28 (Call 01/15/23)(a)		600		589,500
7.50%, 05/15/26 (Call 08/13/21)(a)		1,400		1,452,878
				2,042,378
Macau — 1.6%
Melco Resorts Finance Ltd.
4.88%, 06/06/25 (Call 08/30/21)(a)		200		203,250
5.25%, 04/26/26 (Call 04/26/22)(a)		800		820,000
5.38%, 12/04/29 (Call 12/04/24)(a)		600		620,250
5.63%, 07/17/27 (Call 07/17/22)(a)		200		207,162
5.75%, 07/21/28 (Call 07/21/23)(a)		400		414,500
MGM China Holdings Ltd.
4.75%, 02/01/27 (Call 02/01/24)(c)		200		201,500
4.75%, 02/01/27 (Call 02/01/24)(a)		200		201,500
5.25%, 06/18/25 (Call 06/18/22)(a)		400		411,200
5.38%, 05/15/24 (Call 08/09/21)(a)		600		613,050
Studio City Finance Ltd.
5.00%, 01/15/29 (Call 01/15/24)(a)		200		198,163
6.00%, 07/15/25 (Call 07/15/22)(a)		400		416,300
6.50%, 01/15/28 (Call 07/15/23)(a)		400		421,000
Wynn Macau Ltd.
4.88%, 10/01/24 (Call 08/30/21)(a)		400		401,950
5.13%, 12/15/29 (Call 12/15/24)(a)		600		606,000
5.50%, 01/15/26 (Call 06/15/22)(a)		200		206,250
5.50%, 10/01/27 (Call 10/01/22)(a)		400		411,180
5.63%, 08/26/28 (Call 08/26/23)(a)		800		820,000
				7,173,255
Mexico — 7.9%
Banco Mercantil del Norte SA/Grand Cayman
6.75%, (Call 09/27/24)(a)(d)(e)		300		320,963
7.50%, (Call 06/27/29)(a)(d)(e)		400		451,650
7.63%, (Call 01/06/28)(a)(e)		200		226,500
8.38%, 12/31/99		200		241,538
BBVA Bancomer SA/Texas
5.13%, 01/18/33 (Call 01/17/28)(a)(d)		600		618,750
5.88%, 09/13/34 (Call 09/13/29)(a)(d)		350		381,675
Braskem Idesa SAPI, 7.45%, 11/15/29 (Call 11/15/24)(a)(b)		600		620,400
Cemex SAB de CV
3.88%, 07/11/31 (Call 07/11/26)(a)		1,000		1,028,050
5.13%, (Call 06/08/26)(c)(d)(e)		500		521,155
5.20%, 09/17/30 (Call 09/17/25)(a)		600		657,675
5.45%, 11/19/29 (Call 11/19/24)(a)		600		657,750
7.38%, 06/05/27 (Call 06/05/23)(a)		400		451,200
Credito Real SAB de CV, 8.00%, 01/21/28		400		338,312
Grupo Bimbo SAB de CV, 5.95%, (Call 04/17/23)(a)(d)(e)		400		421,325
Nemak SAB de CV, 3.63%, 06/28/31 (Call 03/28/31)(c)		200		200,250

4

Schedule of Investments (unaudited) (continued)	iShares® J.P. Morgan EM High Yield Bond ETF
July 31, 2021	(Percentages shown are based on Net Assets)

	Par
Security		(000)		Value
Mexico (continued)
Petroleos Mexicanos
4.50%, 01/23/26(b)	$	650	$	657,768
4.88%, 01/18/24		600		626,175
5.35%, 02/12/28(b)		1,200		1,187,580
5.95%, 01/28/31 (Call 10/28/30)		2,133		2,088,740
6.35%, 02/12/48		1,650		1,407,656
6.38%, 01/23/45(b)		895		769,991
6.49%, 01/23/27 (Call 11/23/26)(b)		1,350		1,428,908
6.50%, 03/13/27(b)		2,800		2,965,200
6.50%, 01/23/29(b)		1,100		1,137,565
6.50%, 06/02/41		900		811,856
6.63%, 06/15/35		1,500		1,448,737
6.75%, 09/21/47(b)		3,000		2,659,350
6.84%, 01/23/30 (Call 10/23/29)		2,450		2,546,652
6.88%, 10/16/25		800		882,000
6.88%, 08/04/26		1,630		1,784,850
6.95%, 01/28/60 (Call 07/28/59)		2,050		1,824,295
7.69%, 01/23/50 (Call 07/23/49)(b)		4,325		4,172,055
Total Play Telecomunicaciones SA de CV, 7.50%, 11/12/25(a)		400		425,490
Unifin Financiera SAB de CV, 9.88%, 01/28/29 (Call 01/28/25)(a)(b)		200		197,500
				36,159,561
Morocco — 0.4%
OCP SA
3.75%, 06/23/31 (Call 03/23/31)(b)(c)		400		405,125
4.50%, 10/22/25(a)		200		216,460
5.13%, 06/23/51 (Call 12/23/50)(b)(c)		400		408,250
5.63%, 04/25/24(a)		300		328,462
6.88%, 04/25/44(a)		400		491,000
				1,849,297
Nigeria — 0.3%
IHS Netherlands Holdco BV
7.13%, 03/18/25 (Call 09/18/21)(a)		200		206,625
8.00%, 09/18/27 (Call 09/18/22)(a)		600		642,188
SEPLAT Energy PLC
7.75%, 04/01/26 (Call 04/01/23)(c)		200		207,740
7.75%, 04/01/26 (Call 04/01/23)(a)		200		207,740
				1,264,293
Oman — 0.3%
Bank Muscat SAOG, 4.75%, 03/17/26(a)		400		411,625
National Bank of Oman SAOG, 5.63%, 09/25/23(a)		200		209,350
Oztel Holdings SPC Ltd.
5.63%, 10/24/23(a)		400		423,200
6.63%, 04/24/28(a)		500		549,156
				1,593,331
Panama — 0.4%
C&W Senior Financing DAC
6.88%, 09/15/27 (Call 09/15/22)(a)		800		846,800
7.50%, 10/15/26 (Call 10/15/21)(a)		200		208,968
Cable Onda SA, 4.50%, 01/30/30 (Call 01/30/25)(a)		400		421,200
Sable International Finance Ltd., 5.75%, 09/07/27 (Call 09/07/22)(a)		200		209,860
				1,686,828
Paraguay — 0.2%
Bioceanico Sovereign Certificate Ltd., 0.00%, 06/05/34(a)(g)		486		366,048
Telefonica Celular del Paraguay SA, 5.88%, 04/15/27(a)		400		418,500
				784,548

	Par
Security		(000)		Value
Peru — 0.6%
Cia de Minas Buenaventura SAA, 5.50%, 07/23/26 (Call 07/23/23)(c)	$	200	$	190,500
Hunt Oil Co. of Peru LLC Sucursal Del Peru, 6.38%, 06/01/28(a)		400		393,000
Inkia Energy Ltd., 5.88%, 11/09/27 (Call 11/09/22)(a)(b)		400		405,075
InRetail Consumer, 3.25%, 03/22/28 (Call 01/22/28)(c)		400		393,480
Nexa Resources SA
5.38%, 05/04/27 (Call 02/04/27)(a)		400		418,500
6.50%, 01/18/28 (Call 10/18/27)(a)		200		219,850
Orazul Energy Egenor SCA, 5.63%, 04/28/27 (Call 04/28/22)(a)		200		201,850
Peru LNG Srl, 5.38%, 03/22/30(a)		400		308,000
				2,530,255
Philippines — 0.8%
JGSH Philippines Ltd., 4.13%, 07/09/30(a)		400		429,950
Jollibee Worldwide Pte Ltd., 3.90%, (Call 01/23/25)(a)(d)(e)		400		397,825
Manila Water Co. Inc., 4.38%, 07/30/30 (Call 07/30/25)(a)		200		214,475
Petron Corp.
4.60%, (Call 07/19/23)(a)(d)(e)		200		199,975
5.95%, (Call 04/19/26)(a)(d)(e)		400		418,125
San Miguel Crop., 5.50%, (Call 07/29/25)(a)(d)(e)		200		208,250
SMC Global Power Holdings Corp.
5.45%, (Call 12/09/26)(a)(d)(e)		200		199,063
5.70%, (Call 01/21/26)(a)(d)(e)		200		199,475
5.95%, (Call 05/05/25)(a)(d)(e)		200		201,412
6.50%, (Call 04/25/24)(a)(d)(e)		800		814,900
7.00%, (Call 10/21/25)(a)(d)(e)		400		419,450
				3,702,900
Qatar — 0.1%
Commercial Bank PSQC (The), 4.50%, (Call 03/03/26)(a)(d)(e)		400		401,625
Russia — 1.9%
Alfa Bank AO Via Alfa Bond Issuance PLC
5.95%, 04/15/30 (Call 04/15/25)(a)(d)		600		627,112
6.95%, (Call 04/30/23)(a)(d)(e)		400		415,075
Credit Bank of Moscow Via CBOM Finance PLC
4.70%, 01/29/25(a)		200		207,358
8.88%, (Call 11/10/22)(a)(d)(e)		400		409,000
Eurochem Finance DAC, 5.50%, 03/13/24 (Call 12/13/23)(a)		600		651,780
Evraz PLC
5.25%, 04/02/24 (Call 01/02/24)(a)		400		429,575
5.38%, 03/20/23(a)		600		631,050
Metalloinvest Finance DAC, 4.85%, 05/02/24(a)		400		429,325
Polyus Finance PLC, 5.25%, 02/07/23(a)		400		421,950
TMK OAO Via TMK Capital SA, 4.30%, 02/12/27(a)		400		401,325
Uralkali OJSC Via Uralkali Finance DAC, 4.00%, 10/22/24(a)		400		417,575
VEON Holdings BV
3.38%, 11/25/27 (Call 08/25/27)(a)		800		804,000
4.00%, 04/09/25 (Call 01/09/25)(a)		800		841,250
4.95%, 06/16/24 (Call 03/16/24)(a)		200		214,913
5.95%, 02/13/23(a)		400		426,325
VTB Bank PJSC Via VTB Eurasia DAC, 9.50%, (Call 12/06/22)(a)(d)(e)		1,250		1,354,922
				8,682,535
Saudi Arabia — 0.3%
Arabian Centres Sukuk II Ltd.
5.63%, 10/07/26(c)		200		207,000
5.63%, 10/07/26(a)		200		207,000
Arabian Centres Sukuk Ltd., 5.38%, 11/26/24(a)		200		206,850

 5

Schedule of Investments (unaudited) (continued)	iShares® J.P. Morgan EM High Yield Bond ETF
July 31, 2021	(Percentages shown are based on Net Assets)

	Par
Security		(000)		Value
Saudi Arabia (continued)
Dar Al-Arkan Sukuk Co. Ltd., 6.75%, 02/15/25(a)	$	600	$	621,675
				1,242,525
Singapore — 0.2%
GLP Pte Ltd., 4.50%, (Call 05/17/26)(a)(d)(e)		400		398,000
Singapore Airlines Ltd., 3.00%, 07/20/26 (Call 06/20/26)(a)		400		410,652
				808,652
South Africa — 1.4%
Absa Group Ltd., 6.38%, (Call 05/27/26)(a)(d)(e)		200		204,063
Eskom Holdings SOC Ltd.
6.35%, 08/10/28(a)		600		664,312
6.75%, 08/06/23(a)		417		433,941
7.13%, 02/11/25(a)		660		691,185
FirstRand Bank Ltd., 6.25%, 04/23/28 (Call 04/23/23)(a)(d)		200		210,600
Gold Fields Orogen Holdings BVI Ltd.
5.13%, 05/15/24 (Call 04/15/24)(a)		400		432,450
6.13%, 05/15/29 (Call 02/15/29)(a)		200		236,537
Liquid Telecommunications Financing PLC, 5.50%, 09/04/26  (Call 03/04/23)(a)		400		413,125
MTN Mauritius Investments Ltd.
4.76%, 11/11/24(a)		600		634,237
6.50%, 10/13/26(a)		200		229,288
Sasol Financing USA LLC
4.38%, 09/18/26 (Call 08/18/26)		400		408,100
5.50%, 03/18/31 (Call 03/18/30)		400		417,125
5.88%, 03/27/24 (Call 02/27/24)		800		846,650
6.50%, 09/27/28 (Call 06/27/28)		400		445,125
				6,266,738
South Korea — 0.3%
SK Innovation Co. Ltd., 4.13%, 07/13/23(a)		400		420,520
Woori Bank
4.25%, (Call 10/04/24)(a)(d)(e)		400		415,825
5.25%, (Call 05/16/22)(a)(d)(e)		400		411,075
				1,247,420
Spain — 0.1%
EnfraGen Energia Sur SA, 5.38%, 12/30/30		400		398,000
Switzerland — 0.0%
Oriflame Investment Holding PLC, 5.13%, 05/04/26  (Call 05/15/23)(c)		200		205,440
Thailand — 0.5%
Bangkok Bank PCL/Hong Kong
3.73%, 09/25/34 (Call 09/25/29)(a)(d)		600		622,987
5.00%, 12/31/99		400		420,460
Kasikornbank PCL/Hong Kong, 3.34%, 10/02/31 (Call 10/02/26)(a)(d)		800		818,400
Krung Thai Bank PCL/Cayman Islands, 4.40%, (Call 03/25/26)(a)(d)(e)		400		405,500
				2,267,347
Togo — 0.0%
Ecobank Transnational Inc., 9.50%, 04/18/24(a)		200		213,663
Turkey — 2.2%
Akbank T.A.S., 6.80%, 02/06/26(a)		400		423,700
Akbank TAS
5.13%, 03/31/25(a)		200		201,288
6.80%, 06/22/31 (Call 06/22/26)(c)(d)		200		200,250
7.20%, 03/16/27 (Call 03/16/22)(a)(d)		200		202,100
Arcelik AS, 5.00%, 04/03/23(a)		200		207,288
Coca-Cola Icecek AS, 4.22%, 09/19/24 (Call 06/19/24)(a)		200		210,037

	Par
Security		(000)		Value
Turkey (continued)
KOC Holding AS
5.25%, 03/15/23 (Call 12/15/22)(a)	$	400	$	412,825
6.50%, 03/11/25 (Call 12/11/24)(a)		400		432,200
Mersin Uluslararasi Liman Isletmeciligi AS, 5.38%, 11/15/24  (Call 11/15/22)(a)		200		211,287
QNB Finansbank AS, 6.88%, 09/07/24(a)		400		435,075
Turk Telekomunikasyon AS
4.88%, 06/19/24(a)		200		209,100
6.88%, 02/28/25(a)		400		440,450
Turkcell Iletisim Hizmetleri AS
5.75%, 10/15/25(a)		200		215,412
5.80%, 04/11/28 (Call 01/11/28)(a)		400		428,625
Turkiye Garanti Bankasi AS
5.88%, 03/16/23(a)		300		314,025
6.13%, 05/24/27 (Call 05/24/22)(a)(d)		400		401,825
Turkiye Is Bankasi AS
6.13%, 04/25/24(a)		800		831,150
7.00%, 06/29/28 (Call 06/29/23)(a)(d)		200		202,663
7.75%, 01/22/30 (Call 01/22/25)(a)(d)		400		416,732
Turkiye Petrol Rafinerileri AS, 4.50%, 10/18/24 (Call 07/20/24)(a)		400		401,575
Turkiye Sise ve Cam Fabrikalari AS, 6.95%, 03/14/26 (Call 12/14/25)(a)		300		334,556
Turkiye Vakiflar Bankasi TAO
5.25%, 02/05/25(a)		200		199,100
8.13%, 03/28/24(a)		600		652,800
Ulker Biskuvi Sanayi AS, 6.95%, 10/30/25(a)		400		432,325
Yapi ve Kredi Bankasi AS
5.85%, 06/21/24(a)		300		308,306
6.10%, 03/16/23(a)		200		207,288
7.88%, 01/22/31 (Call 01/22/26)(c)(d)		200		209,500
8.25%, 10/15/24(a)		200		219,000
13.88%, (Call 01/15/24)(a)(d)(e)		400		463,000
				9,823,482
Ukraine — 0.4%
DTEK Finance PLC, 5.00%, (5.00% PIK), 12/31/27 (Call 08/31/21)(a)(f)		906		587,906
Metinvest BV
7.75%, 10/17/29(a)		200		220,350
8.50%, 04/23/26 (Call 01/23/26)(a)		400		452,700
MHP Lux SA, 6.95%, 04/03/26(a)		200		210,600
MHP SE, 7.75%, 05/10/24(a)		400		430,575
				1,902,131
United Arab Emirates — 1.4%
ADIB Capital Invest 2 Ltd., 7.13%, (Call 09/20/23)(a)(d)(e)		400		427,575
Commercial Bank of Dubai PSC, 6.00%, (Call 04/21/26)(a)(d)(e)		400		424,125
DIB Tier 1 Sukuk 3 Ltd., 6.25%, (Call 01/22/25)(a)(d)(e)		400		431,000
DIB Tier 1 Sukuk 4 Ltd., 4.63%, (Call 05/19/26)(a)(d)(e)		600		621,930
DP World Salaam, 6.00%, (Call 10/01/25)(a)(d)(e)		1,000		1,092,812
Emaar Sukuk Ltd.
3.64%, 09/15/26(a)		400		413,825
3.88%, 09/17/29(a)		200		203,975
EMG Sukuk Ltd., 4.56%, 06/18/24(a)		600		639,113
Emirates NBD Bank PJSC
4.25%, (Call 02/27/27)(a)(d)(e)		200		205,063
6.13%, (Call 03/20/25)(a)(d)(e)		600		641,437
6.13%, (Call 04/09/26)(a)(d)(e)		400		438,500

6

Schedule of Investments (unaudited) (continued)	iShares® J.P. Morgan EM High Yield Bond ETF
July 31, 2021	(Percentages shown are based on Net Assets)

	Par
Security		(000)		Value
United Arab Emirates (continued)
GEMS MENASA Cayman Ltd./GEMS Education Delaware LLC, 7.13%, 07/31/26 (Call 07/31/22)(a)	$	600	$	618,750
Shelf Drilling Holdings Ltd., 8.25%, 02/15/25(a)		500		380,156
				6,538,261
United States — 0.5%
Champion Path Holdings Ltd.
4.50%, 01/27/26 (Call 01/27/24)(a)		200		204,000
4.85%, 01/27/28 (Call 01/27/25)(a)		400		409,325
Fortune Star BVI Ltd., 5.05%, 01/27/27 (Call 01/27/25)(a)		200		197,537
Franshion Brilliant Ltd., 6.00%, (Call 02/08/26)(a)(d)(e)		200		200,750
Klabin Austria GmbH, 3.20%, 01/12/31 (Call 10/12/30)(a)		400		393,800
Mexico Remittances Funding Fiduciary Estate Management Sarl, 4.88%, 01/15/28		200		195,250
Playtika Holding Corp., 4.25%, 03/15/29 (Call 03/15/24)(c)		300		298,500
Wheelock MTN BVI Ltd., 2.38%, 01/25/26(a)		200		200,975
				2,100,137
Vietnam — 0.1%
Mong Duong Finance Holdings BV, 5.13%, 05/07/29(a)		250		246,766
Zambia — 0.8%
First Quantum Minerals Ltd.
6.50%, 03/01/24 (Call 08/09/21)(a)		400		407,600
6.88%, 03/01/26 (Call 08/09/21)(a)		600		626,625
6.88%, 10/15/27 (Call 10/15/23)(a)		800		867,000
7.25%, 04/01/23 (Call 08/09/21)(a)		800		815,250
7.50%, 04/01/25 (Call 08/09/21)(a)		800		829,750
				3,546,225
Total Corporate Bonds & Notes — 51.4%
(Cost: $230,977,234)				234,459,570
Foreign Government Obligations(h)
Angola — 1.0%
Angolan Government International Bond
8.00%, 11/26/29(a)		1,000		1,033,000
8.25%, 05/09/28(a)		800		834,900
9.13%, 11/26/49(a)		1,000		1,027,375
9.38%, 05/08/48(a)		600		627,300
9.50%, 11/12/25(a)		800		881,900
				4,404,475
Argentina — 2.7%
Argentine Republic Government International Bond
0.50%, 07/09/30 (Call 08/30/21)(i)		8,483		3,070,781
1.00%, 07/09/29 (Call 08/30/21)(b)		1,549		592,537
1.13%, 07/09/35 (Call 08/30/21)(i)		10,846		3,508,469
1.13%, 07/09/46 (Call 08/30/21)(i)		1,250		418,125
2.00%, 01/09/38 (Call 08/30/21)(i)		6,256		2,461,839
2.50%, 07/09/41 (Call 08/30/21)(b)(i)		5,550		2,071,884
				12,123,635
Azerbaijan — 0.4%
Republic of Azerbaijan International Bond
3.50%, 09/01/32(a)		450		466,959
4.75%, 03/18/24(a)		800		863,400
State Oil Co. of the Azerbaijan Republic, 4.75%, 03/13/23(a)		600		630,863
				1,961,222
Bahrain — 1.9%
Bahrain Government International Bond
5.25%, 01/25/33(a)		600		576,188

	Par
Security		(000)		Value
Bahrain (continued)
5.45%, 09/16/32(a)	$	400	$	392,125
5.63%, 09/30/31(a)		400		399,075
6.00%, 09/19/44(a)		800		748,400
6.13%, 08/01/23(a)		800		853,400
6.75%, 09/20/29(a)		600		649,425
7.00%, 01/26/26(a)		600		671,550
7.00%, 10/12/28(a)		900		998,156
7.38%, 05/14/30(a)		600		669,675
CBB International Sukuk Co. 5 SPC, 5.62%, 02/12/24(a)		600		632,175
CBB International Sukuk Co. 7 SPC, 6.88%, 10/05/25(a)		600		688,988
CBB International Sukuk Programme Co WLL
3.95%, 09/16/27(a)		500		507,656
4.50%, 03/30/27(a)		400		418,200
6.25%, 11/14/24(a)		600		652,800
				8,857,813
Bolivia — 0.1%
Bolivian Government International Bond, 4.50%, 03/20/28(a)(b)		600		536,925
Brazil — 4.6%
Banco Nacional de Desenvolvimento Economico e Social, 5.75%, 09/26/23(a)		800		883,400
Brazilian Government International Bond
2.88%, 06/06/25		1,000		1,033,000
3.75%, 09/12/31		400		395,400
3.88%, 06/12/30(b)		1,900		1,916,981
4.25%, 01/07/25		2,548		2,759,484
4.50%, 05/30/29 (Call 02/28/29)(b)		1,000		1,068,000
4.63%, 01/13/28 (Call 10/13/27)(b)		1,600		1,731,300
4.75%, 01/14/50 (Call 07/14/49)		2,050		1,970,306
5.00%, 01/27/45(b)		1,926		1,920,944
5.63%, 01/07/41		1,317		1,416,434
5.63%, 02/21/47		1,500		1,620,281
6.00%, 04/07/26		1,214		1,420,228
7.13%, 01/20/37		860		1,083,493
8.25%, 01/20/34		700		969,850
8.88%, 04/15/24		520		640,673
				20,829,774
Colombia — 4.0%
Colombia Government International Bond
2.63%, 03/15/23 (Call 12/15/22)		1,200		1,218,600
3.13%, 04/15/31 (Call 01/15/31)		2,200		2,152,287
3.88%, 04/25/27 (Call 01/25/27)		1,600		1,693,300
3.88%, 02/15/61 (Call 08/15/60)		1,200		1,049,475
4.00%, 02/26/24 (Call 11/26/23)		1,400		1,469,388
4.50%, 03/15/29 (Call 12/15/28)		1,800		1,952,212
5.00%, 06/15/45 (Call 12/15/44)		3,000		3,126,187
5.20%, 05/15/49 (Call 11/15/48)		1,400		1,510,075
5.63%, 02/26/44 (Call 08/26/43)		1,400		1,561,263
6.13%, 01/18/41		2,000		2,349,125
				18,081,912
Costa Rica — 0.4%
Costa Rica Government International Bond
6.13%, 02/19/31(a)(b)		600		638,925
7.00%, 04/04/44(a)		662		692,948
7.16%, 03/12/45(a)		600		636,863
				1,968,736

 7

Schedule of Investments (unaudited) (continued)	iShares® J.P. Morgan EM High Yield Bond ETF
July 31, 2021	(Percentages shown are based on Net Assets)

	Par
Security		(000)		Value
Dominican Republic — 2.8%
Dominican Republic International Bond
4.50%, 01/30/30(a)	$	1,050	$	1,074,806
4.88%, 09/23/32(a)		1,750		1,815,625
5.30%, 01/21/41(a)		700		710,631
5.50%, 01/27/25(a)		625		679,609
5.88%, 01/30/60(a)		1,700		1,712,750
5.95%, 01/25/27(a)(b)		850		953,328
6.00%, 07/19/28(a)		800		911,250
6.40%, 06/05/49(a)		750		815,297
6.50%, 02/15/48(a)		600		656,925
6.85%, 01/27/45(a)		1,040		1,181,570
6.88%, 01/29/26(a)		800		921,400
7.45%, 04/30/44(a)		900		1,096,763
				12,529,954
Ecuador — 1.4%
Ecuador Government International Bond
0.00%, 07/31/30(a)(g)		578		318,623
0.50%, 07/31/40(a)(i)		1,875		1,162,500
1.00%, 07/31/35(a)(i)		4,450		3,092,750
5.00%, 07/31/30(a)(i)		1,900		1,667,250
				6,241,123
Egypt — 2.7%
Egypt Government International Bond
5.58%, 02/21/23(a)		600		627,113
5.75%, 05/29/24(a)		600		636,863
5.88%, 06/11/25(a)		800		850,150
5.88%, 02/16/31(a)		1,000		961,250
6.59%, 02/21/28(a)		614		641,361
7.05%, 01/15/32(a)		600		610,988
7.50%, 01/31/27(a)		1,000		1,106,437
7.50%, 02/16/61(a)		800		745,000
7.60%, 03/01/29(a)		1,000		1,083,625
7.63%, 05/29/32(a)		1,000		1,051,750
7.90%, 02/21/48(a)		800		782,400
8.50%, 01/31/47(a)		1,300		1,346,556
8.70%, 03/01/49(a)		800		836,150
8.88%, 05/29/50(a)		1,000		1,064,562
				12,344,205
El Salvador — 0.3%
El Salvador Government International Bond
7.12%, 01/20/50 (Call 07/20/49)(a)		550		447,047
7.65%, 06/15/35(a)		500		437,656
9.50%, 07/15/52(a)		550		517,172
				1,401,875
Ethiopia — 0.1%
Ethiopia International Bond, 6.63%, 12/11/24(a)		600		532,238
Gabon — 0.1%
Gabon Government International Bond, 6.63%, 02/06/31(a)		600		600,675
Ghana — 1.2%
Ghana Government International Bond
6.38%, 02/11/27(a)		600		590,738
7.63%, 05/16/29(a)		400		399,450
7.75%, 04/07/29(c)		400		403,125
7.75%, 04/07/29(a)		200		201,563
7.88%, 02/11/35(a)		400		383,950
8.13%, 01/18/26(a)		470		496,085
8.13%, 03/26/32(a)		700		699,037
8.63%, 04/07/34(c)		600		606,187

	Par
Security		(000)		Value
Ghana (continued)
8.63%, 06/16/49(a)	$	600	$	567,863
8.95%, 03/26/51(a)		500		486,656
10.75%, 10/14/30(a)		600		747,487
				5,582,141
Guatemala — 0.2%
Guatemala Government Bond, 6.13%, 06/01/50(Call 12/01/49)(a)(b)		700		836,850
Iraq — 0.3%
Iraq International Bond
5.80%, 01/15/28 (Call 09/13/21)(a)		1,422		1,355,047
6.75%, 03/09/23(a)		200		202,850
				1,557,897
Ivory Coast — 0.1%
Ivory Coast Government International Bond, 6.13%, 06/15/33(a)		600		646,800
Jamaica — 0.7%
Jamaica Government International Bond
6.75%, 04/28/28(b)		800		934,000
7.88%, 07/28/45		900		1,255,387
8.00%, 03/15/39		700		980,219
				3,169,606
Jordan — 0.5%
Jordan Government International Bond
5.75%, 01/31/27(a)		400		430,575
5.85%, 07/07/30(a)		700		722,750
6.13%, 01/29/26(a)		600		650,175
7.38%, 10/10/47(a)		600		628,425
				2,431,925
Kenya — 0.8%
Republic of Kenya Government International Bond
6.30%, 01/23/34(c)		400		404,125
6.88%, 06/24/24(a)		1,000		1,094,875
7.25%, 02/28/28(a)		600		662,175
8.00%, 05/22/32(a)		600		676,050
8.25%, 02/28/48(a)		600		661,425
				3,498,650
Lebanon — 0.1%
Lebanon Government International Bond
6.00%, 01/27/23(a)(j)		500		60,000
6.10%, 10/04/22(a)(j)		900		108,000
6.60%, 11/27/26(a)(j)		900		108,000
6.65%, 02/26/30(a)(j)		740		86,950
6.75%, 11/29/27(a)(j)		500		60,000
6.85%, 03/23/27(a)(j)		650		78,000
7.00%, 03/23/32(a)(j)		500		60,000
				560,950
Malaysia — 0.4%
1MDB Global Investments Ltd., 4.40%, 03/09/23(a)		2,000		2,005,375
Morocco — 0.3%
Morocco Government International Bond
3.00%, 12/15/32(a)		600		583,688
4.00%, 12/15/50(a)		600		562,500
				1,146,188
Nigeria — 1.1%
Nigeria Government International Bond
6.50%, 11/28/27(a)		800		846,900

8

Schedule of Investments (unaudited) (continued)	iShares® J.P. Morgan EM High Yield Bond ETF
July 31, 2021	(Percentages shown are based on Net Assets)

	Par
Security		(000)		Value
Nigeria (continued)
7.14%, 02/23/30(a)	$	514	$	539,957
7.63%, 11/21/25(a)		700		785,444
7.63%, 11/28/47(a)		800		802,650
7.70%, 02/23/38(a)		800		819,400
7.88%, 02/16/32(a)		800		854,900
8.75%, 01/21/31(a)		400		450,950
				5,100,201
Oman — 3.2%
Oman Government International Bond
4.75%, 06/15/26(a)		1,900		1,960,325
4.88%, 02/01/25(a)		200		208,788
5.38%, 03/08/27(a)		600		629,550
5.63%, 01/17/28(a)		1,800		1,892,250
6.00%, 08/01/29(a)		1,200		1,275,600
6.25%, 01/25/31(a)		1,000		1,079,062
6.50%, 03/08/47(a)		1,000		987,688
6.75%, 10/28/27(a)		800		892,000
6.75%, 01/17/48(a)		1,400		1,407,700
7.00%, 01/25/51(a)		400		412,125
7.38%, 10/28/32(a)		800		914,250
Oman Sovereign Sukuk Co.
4.40%, 06/01/24(a)		800		830,400
4.88%, 06/15/30(c)		800		834,500
5.93%, 10/31/25(a)		1,200		1,314,000
				14,638,238
Pakistan — 0.7%
Pakistan Government International Bond
6.00%, 04/08/26(c)		400		402,044
6.00%, 04/08/26(a)		200		201,022
6.88%, 12/05/27(a)		800		817,650
7.38%, 04/08/31(c)		600		601,566
7.38%, 04/08/31(a)		200		200,522
8.25%, 04/15/24(a)		677		730,441
				2,953,245
Paraguay — 0.4%
Paraguay Government International Bond
4.95%, 04/28/31 (Call 01/28/31)(a)		400		459,325
5.40%, 03/30/50 (Call 09/30/49)(a)		600		705,863
6.10%, 08/11/44(a)		600		747,487
				1,912,675
Senegal — 0.3%
Senegal Government International Bond
6.25%, 05/23/33(a)		500		527,594
6.75%, 03/13/48(a)		600		613,050
				1,140,644
Serbia — 0.2%
Serbia International Bond, 2.13%, 12/01/30(a)		735		698,847
South Africa — 2.2%
Republic of South Africa Government International Bond
4.30%, 10/12/28		1,000		1,033,000
4.67%, 01/17/24		800		861,150
4.85%, 09/27/27(b)		400		429,325
4.85%, 09/30/29		1,100		1,161,737
4.88%, 04/14/26(b)		804		874,250
5.00%, 10/12/46		600		567,113
5.38%, 07/24/44		500		498,375
5.65%, 09/27/47(b)		800		810,150
5.75%, 09/30/49(b)		1,700		1,727,412

	Par
Security		(000)		Value
South Africa (continued)
5.88%, 09/16/25	$	986	$	1,115,289
5.88%, 06/22/30(b)		800		907,900
				9,985,701
Sri Lanka — 0.8%
Sri Lanka Government International Bond
5.75%, 04/18/23(a)		600		436,800
6.20%, 05/11/27(a)		800		492,150
6.75%, 04/18/28(a)		700		429,319
6.83%, 07/18/26(a)		800		502,400
6.85%, 03/14/24(a)		500		325,719
6.85%, 11/03/25(a)		700		447,037
7.55%, 03/28/30(a)		800		490,400
7.85%, 03/14/29(a)		700		429,756
				3,553,581
Trinidad And Tobago — 0.1%
Trinidad & Tobago Government International Bond, 4.50%, 08/04/26(a)		600		633,675
Tunisia — 0.1%
Banque Centrale de Tunisie International Bond, 5.75%, 01/30/25(a)		600		508,500
Turkey — 7.9%
Hazine Mustesarligi Varlik Kiralama AS
4.49%, 11/25/24(a)		600		608,175
5.00%, 04/06/23(a)		800		819,650
5.13%, 06/22/26(c)		1,200		1,197,375
Turkey Government International Bond
3.25%, 03/23/23		900		898,763
4.25%, 03/13/25		1,000		984,250
4.25%, 04/14/26		600		579,863
4.75%, 01/26/26		1,000		986,250
4.88%, 10/09/26(b)		1,710		1,684,136
4.88%, 04/16/43(b)		1,779		1,427,981
5.13%, 02/17/28(b)		1,200		1,173,975
5.25%, 03/13/30(b)		1,200		1,149,975
5.60%, 11/14/24		1,300		1,340,056
5.75%, 03/22/24		1,250		1,297,500
5.75%, 05/11/47(b)		1,826		1,576,979
5.88%, 06/26/31(b)		700		683,594
5.95%, 01/15/31		1,200		1,182,375
6.00%, 03/25/27(b)		1,521		1,563,588
6.00%, 01/14/41		1,703		1,555,371
6.13%, 10/24/28(b)		1,000		1,026,437
6.35%, 08/10/24		1,250		1,313,125
6.38%, 10/14/25		1,400		1,470,262
6.63%, 02/17/45		1,600		1,531,800
6.75%, 05/30/40		975		965,433
6.88%, 03/17/36(b)		1,561		1,587,147
7.25%, 12/23/23		1,200		1,293,600
7.25%, 03/05/38		650		686,481
7.38%, 02/05/25(b)		1,770		1,918,016
7.63%, 04/26/29(b)		1,600		1,762,800
8.00%, 02/14/34(b)		713		804,710
11.88%, 01/15/30(b)		800		1,112,400
				36,182,067
Ukraine — 1.9%
Ukraine Government International Bond
6.88%, 05/21/29(c)		800		825,200
7.25%, 03/15/33(a)		1,500		1,544,344

 9

Schedule of Investments (unaudited) (continued)	iShares® J.P. Morgan EM High Yield Bond ETF
July 31, 2021	(Percentages shown are based on Net Assets)

	Par/
	Shares
Security		(000)		Value
Ukraine (continued)
7.38%, 09/25/32(a)	$	1,700	$	1,768,319
7.75%, 09/01/23(a)		775		830,412
7.75%, 09/01/24(a)		618		671,032
7.75%, 09/01/25(a)		736		800,032
7.75%, 09/01/26(a)		700		767,069
7.75%, 09/01/27(a)		650		711,262
9.75%, 11/01/28(a)		800		951,650
				8,869,320
United Arab Emirates — 0.3%
Emirate of Dubai Government International Bonds
3.90%, 09/09/50(a)		800		749,250
5.25%, 01/30/43(a)		400		450,825
				1,200,075
Vietnam — 0.2%
Vietnam Government International Bond, 4.80%, 11/19/24(a)		600		664,800
Zambia — 0.2%
Zambia Government International Bond
8.50%, 04/14/24(a)(j)(k)		600		390,000
8.97%, 07/30/27(a)(j)(k)		600		385,800
				775,800
Total Foreign Government Obligations — 46.7%
(Cost: $219,365,500)				212,668,313
Short-Term Investments
Money Market Funds — 9.8%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.06%(l)(m)(n)		36,460		36,478,002
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(l)(m)		8,219		8,219,000
				44,697,002
Total Short-Term Investments — 9.8%
(Cost: $44,697,198)				44,697,002
Total Investments in Securities — 107.9%
(Cost: $495,039,932)				491,824,885
Other Assets, Less Liabilities — (7.9)%				(35,868,116	)
Net Assets — 100.0%			$	455,956,769

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

^(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) Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available.

^(e) Perpetual security with no stated maturity date.

^(f) Payment-in-kind (“PIK”) bond which gives the issuer an option to make coupon pay-ments in cash or in the form of additional bonds. Stated interest rate represents the cash coupon rate.

^(g) Zero-coupon bond.

^(h) U.S. dollar denominated security issued by foreign domiciled entity.

⁽ⁱ⁾ Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.

^(j) Issuer filed for bankruptcy and/or is in default.

^(k) Non-income producing security.

^(l) Affiliate of the Fund.

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

⁽ⁿ⁾ 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 July 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 10/31/20		Purchases at Cost			Proceeds from Sales		Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)		Value at 07/31/21		Shares Held at 07/31/21 (000)		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL Agency Shares	$	17,259,777	$	19,223,716	(a)	$	—	$	(7,110	)	$	1,619	$	36,478,002		36,460	$	80,790	(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		4,109,000		4,110,000	(a)		—		—			—		8,219,000		8,219		505			—
								$	(7,110	)	$	1,619	$	44,697,002			$	81,295		$	—

^(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.

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Schedule of Investments (unaudited) (continued)	iShares® J.P. Morgan EM High Yield Bond ETF
July 31, 2021

Fair Value Measurements

Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

• Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each Fund has the ability to access;

• Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs); and

• Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available, (including the Global Valuation Committee’s assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of July 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
Corporate Bonds & Notes.	$	—	$	234,459,570	$	—	$	234,459,570
Foreign Government Obligations		—		212,668,313		—		212,668,313
Money Market Funds		44,697,002		—		—		44,697,002
	$	44,697,002	$	447,127,883	$	—	$	491,824,885

Portfolio Abbreviations - Fixed Income

PIK Payment-in-kind 

PJSC Public Joint Stock Company

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