NPORT-EX 2 NPORT_2QWD_5110650200.htm

 

Schedule of Investments (unaudited) iShares®  International High Yield Bond ETF
July 31, 2021 (Percentages shown are based on Net Assets)

 

Security 

Par

(000)

   Value 
         
Corporate Bonds & Notes        
         
Austria — 0.2%        
ams AG, 6.00%, 07/31/25 (Call 07/31/22)(a)    EUR 100   $126,674 
             
Belgium — 0.2%            
Telenet Finance Luxembourg Notes Sarl, 3.50%, 03/01/28 (Call 12/01/22)(a)   EUR 100    123,127 
             
Canada — 1.8%            
ADLER Group SA, 2.25%, 01/14/29 (Call 10/14/28)(a)   EUR 200    224,518 
Banco BPM SpA, 3.25%, 01/14/31 (Call 01/14/26)(a)(b)   EUR 100    120,859 
Iccrea Banca SpA, 2.25%, 10/20/25 (Call 10/20/24)(a)(b)    EUR 100    121,989 
Mattamy Group Corp., 4.63%, 03/01/28 (Call 03/01/23)(a)   CAD 50    40,839 
Parkland Corp./Canada            
3.88%, 06/16/26 (Call 06/16/23)(c)   CAD 100    80,955 
4.38%, 03/26/29 (Call 03/26/24)   CAD 100    81,286 
Parts Europe SA, 6.50%, 07/16/25 (Call 01/09/22)(a)   EUR 100    124,524 
Southern Pacific Resource Corp., 8.75%, 01/25/18(c)(d)(e)   CAD 50    0(f) 
Videotron Ltd.            
3.63%, 06/15/28 (Call 06/15/24)(c)   CAD 150    120,682 
4.50%, 01/15/30 (Call 10/15/24)   CAD 150    125,491 
5.63%, 06/15/25 (Call 03/15/25)   CAD 50    44,101 
5.75%, 01/15/26 (Call 09/15/21)(a)   CAD 50    41,029 
VZ Vendor Financing II BV, 2.88%, 01/15/29 (Call 12/18/23)(a)   EUR 200    233,420 
           1,359,693 
Cayman Islands — 0.2%            
UPCB Finance VII Ltd., 3.63%, 06/15/29 (Call 06/15/22)(a)   EUR 100    121,717 
             
Cyprus — 0.2%            
Bank of Cyprus PCL, 2.50%, 06/24/27 (Call 06/24/26)(a)(b)    EUR 100    116,369 
             
Denmark — 0.5%            
DKT Finance ApS, 7.00%, 06/17/23 (Call 06/17/22)(a)   EUR 200    241,077 
TDC AS, 6.88%, 02/23/23(a)   GBP 100    150,016 
           391,093 
Finland — 1.6%            
Nokia OYJ            
2.00%, 03/15/24 (Call 12/15/23)(a)   EUR 100    123,780 
2.00%, 03/11/26(a)   EUR 150    188,442 
2.38%, 05/15/25 (Call 02/15/25)(a)   EUR 200    253,359 
SpA Holdings 3 Oy, 3.63%, 02/04/28 (Call 02/04/24)(a)   EUR 100    119,840 
Teollisuuden Voima Oyj, 1.38%, 06/23/28 (Call 03/23/28)(a)   EUR 200    239,461 
Teollisuuden Voima OYJ, 1.13%, 03/09/26 (Call 12/09/25)(a)   EUR 200    240,375 
           1,165,257 
France — 11.6%            
Accor SA            
2.50%, 01/25/24(a)   EUR 100    124,124 
3.00%, 02/04/26 (Call 11/04/25)(a)   EUR 200    251,920 
Altice France SA/France            
2.13%, 02/15/25 (Call 01/29/22)(a)   EUR 150    173,591 
3.38%, 01/15/28 (Call 09/15/22)(a)   EUR 200    233,009 
4.00%, 07/15/29 (Call 04/15/24)(a)   EUR 100    119,073 
5.88%, 02/01/27 (Call 02/01/22)(a)   EUR 150    187,960 
Banijay Entertainment SASU, 3.50%, 03/01/25 (Call 03/01/22)(a)   EUR 200    240,071 
CAB SELAS, 3.38%, 02/01/28 (Call 02/01/24)(a)   EUR 200    238,965 
Casino Guichard Perrachon SA            
3.58%, 02/07/25 (Call 11/07/24)(a)   EUR 200    226,148 
4.50%, 03/07/24 (Call 12/04/23)(a)   EUR 100    118,626 
4.56%, 01/25/23(a)   EUR 100    121,684 
5.25%, 04/15/27 (Call 04/15/23)(a)   EUR 100    118,333 
Security   

Par

(000)

   Value 
           
France (continued)          
CGG SA, 7.75%, 04/01/27 (Call 04/01/24)(a)   EUR 100   $118,722 
CMA CGM SA          
5.25%, 01/15/25 (Call 10/15/21)(a)   EUR 100    120,831 
7.50%, 01/15/26 (Call 01/15/23)(a)   EUR 100    131,246 
Elis SA          
1.00%, 04/03/25 (Call 01/03/25)(a)   EUR 100    118,445 
1.63%, 04/03/28 (Call 01/03/28)(a)   EUR 100    118,446 
1.75%, 04/11/24 (Call 01/11/24)(a)   EUR 200    243,211 
Faurecia SE          
2.38%, 06/15/27 (Call 06/15/23)(a)   EUR 100    121,310 
2.63%, 06/15/25 (Call 06/15/22)(a)   EUR 250    300,627 
3.13%, 06/15/26 (Call 06/15/22)(a)   EUR 100    122,520 
3.75%, 06/15/28 (Call 06/15/23)(a)   EUR 200    249,701 
Kapla Holding SAS, 3.38%, 12/15/26 (Call 12/15/22)(a)    EUR 100    117,431 
La Financiere Atalian SASU, 4.00%, 05/15/24 (Call 05/15/22)(a)   EUR 200    232,289 
Loxam SAS          
2.88%, 04/15/26 (Call 04/10/22)(a)   EUR 100    118,235 
3.25%, 01/14/25 (Call 07/15/22)(a)   EUR 100    119,225 
3.50%, 05/03/23(a)   EUR 200    237,077 
Orano SA          
2.75%, 03/08/28 (Call 12/08/27)(a)   EUR 100    123,704 
3.13%, 03/20/23 (Call 12/20/22)(a)   EUR 100    123,464 
3.38%, 04/23/26 (Call 01/23/26)(a)   EUR 100    128,383 
4.88%, 09/23/24   EUR 200    268,377 
Paprec Holding SA          
3.50%, 07/01/28 (Call 07/01/24)(a)   EUR 100    119,409 
4.00%, 03/31/25 (Call 03/31/22)(a)   EUR 100    120,562 
Picard Bondco SA, 5.38%, 07/01/27 (Call 01/01/24)(a)   EUR 100    119,263 
Picard Groupe SA, 3.88%, 07/01/26 (Call 07/01/23)(a)   EUR 100    120,485 
Quatrim SASU, 5.88%, 01/15/24 (Call 11/15/21)(a)   EUR 100    122,403 
RCI Banque SA, 2.63%, 02/18/30 (Call 02/18/25)(a)(b)   EUR 200    240,907 
Renault SA          
1.00%, 03/08/23 (Call 12/08/22)(a)   EUR 100    119,635 
1.00%, 04/18/24 (Call 01/18/24)(a)   EUR 100    118,813 
1.00%, 11/28/25 (Call 08/28/25)(a)   EUR 100    118,097 
1.13%, 10/04/27(a)   EUR 100    111,071 
1.25%, 06/24/25 (Call 03/24/25)(a)   EUR 100    117,589 
2.00%, 09/28/26 (Call 06/28/26)(a)   EUR 100    118,387 
2.38%, 05/25/26 (Call 02/25/26)(a)   EUR 200    240,744 
2.50%, 04/01/28 (Call 01/01/28)(a)   EUR 100    118,987 
Rexel SA, 2.13%, 06/15/28 (Call 06/15/24)(a)    EUR 100    121,459 
SPCM SA, 2.63%, 02/01/29 (Call 09/15/23)(a)    EUR 100    121,708 
SPIE SA          
2.63%, 06/18/26 (Call 12/18/25)(a)   EUR 100    123,592 
3.13%, 03/22/24 (Call 09/22/23)(a)   EUR 100    124,299 
Tereos Finance Groupe I SA          
4.13%, 06/16/23 (Call 03/16/23)(a)   EUR 100    120,048 
7.50%, 10/30/25 (Call 10/30/22)(a)   EUR 100    126,497 
Valeo          
0.63%, 01/11/23 (Call 10/11/22)(a)   EUR 100    119,432 
1.50%, 06/18/25 (Call 03/18/25)(a)   EUR 200    246,329 
3.25%, 01/22/24(a)   EUR 200    255,760 
         8,532,224 
Germany — 11.4%          
ADLER Group SA          
1.50%, 07/26/24 (Call 04/26/24)(a)   EUR 100    114,778 
1.88%, 01/14/26 (Call 10/14/25)(a)   EUR 100    114,044 
2.25%, 04/27/27 (Call 01/27/27)(a)   EUR 100    113,934 
3.25%, 08/05/25 (Call 05/05/25)(a)   EUR 100    120,170 


1

 

 

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

 

   Par     
Security  (000)    Value 
          
Germany (continued)            
ADLER Real Estate AG            
1.88%, 04/27/23 (Call 03/27/23)(a)   EUR 100   $117,754 
3.00%, 04/27/26 (Call 02/27/26)(a)   EUR 100    122,032 
Bayer AG            
2.38%, 11/12/79 (Call 02/12/25)(a)(b)   EUR 200    240,524 
3.13%, 11/12/79 (Call 08/12/27)(a)(b)   EUR 100    124,145 
3.75%, 07/01/74 (Call 07/01/24)(a)(b)   EUR 200    250,579 
Bertelsmann SE & Co. KGaA            
3.00%, 04/23/75 (Call 04/23/23)(a)(b)   EUR 100    123,062 
3.50%, 04/23/75 (Call 04/23/27)(a)(b)   EUR 100    129,971 
Cheplapharm Arzneimittel GmbH, 4.38%, 01/15/28 (Call 01/15/24)(a)   EUR 150    184,803 
Commerzbank AG            
4.00%, 03/23/26(a)   EUR 250    336,460 
4.00%, 03/30/27(a)   EUR 100    137,360 
4.00%, 12/05/30 (Call 09/05/25)(a)(b)   EUR 100    131,439 
Deutsche Bank AG            
2.75%, 02/17/25(a)   EUR 125    156,738 
4.50%, 05/19/26(a)   EUR 200    273,335 
5.63%, 05/19/31 (Call 02/19/26)(a)(b)   EUR 200    279,932 
Deutsche Lufthansa AG            
0.25%, 09/06/24   EUR 50    57,295 
2.00%, 07/14/24 (Call 06/14/24)(a)   EUR 100    118,240 
2.88%, 02/11/25 (Call 01/11/25)(a)   EUR 200    241,339 
3.00%, 05/29/26 (Call 02/28/26)(a)   EUR 300    359,622 
3.50%, 07/14/29 (Call 04/14/29)(a)   EUR 100    120,041 
Douglas GmbH, 6.00%, 04/08/26 (Call 04/15/23)(a)   EUR 200    235,639 
Gruenenthal GmbH, 4.13%, 05/15/28 (Call 05/15/24)(a)    EUR 150    182,598 
K+S AG, 2.63%, 04/06/23 (Call 01/06/23)(a)    EUR 100    121,480 
LANXESS AG, 4.50%, 12/06/76 (Call 06/06/23)(a)(b)    EUR 75    94,909 
Mahle GmbH, 2.38%, 05/14/28 (Call 02/14/28)(a)    EUR 200    236,091 
Nidda BondCo GmbH, 5.00%, 09/30/25 (Call 09/30/21)(a)   EUR 200    237,214 
Nidda Healthcare Holding GmbH, 3.50%, 09/30/24 (Call 09/30/21)(a)   EUR 200    237,007 
Schaeffler AG            
1.88%, 03/26/24 (Call 12/26/23)(a)   EUR 100    122,640 
2.75%, 10/12/25(a)   EUR 200    252,973 
3.38%, 10/12/28(a)   EUR 100    130,929 
Techem Verwaltungsgesellschaft 674 mbH, 6.00%, 07/30/26 (Call 08/09/21)(a)   EUR 100    121,953 
Techem Verwaltungsgesellschaft 675 mbH, 2.00%, 07/15/25 (Call 01/15/22)(a)   EUR 150    176,778 
thyssenkrupp AG            
1.88%, 03/06/23 (Call 02/06/23)(a)   EUR 250    298,097 
2.88%, 02/22/24 (Call 11/22/23)(a)   EUR 300    362,153 
TK Elevator Midco GmbH, 4.38%, 07/15/27 (Call 07/15/23)(a)   EUR 100    123,988 
Vertical Holdco GmbH, 6.63%, 07/15/28 (Call 07/15/23)(a)    EUR 200    252,315 
ZF Europe Finance BV            
2.00%, 02/23/26 (Call 12/23/25)(a)   EUR 200    241,492 
2.50%, 10/23/27 (Call 07/23/27)(a)   EUR 100    122,674 
3.00%, 10/23/29 (Call 07/23/29)(a)   EUR 100    124,967 
ZF Finance GmbH            
2.00%, 05/06/27 (Call 02/06/27)(a)   EUR 100    120,156 
2.75%, 05/25/27 (Call 02/25/27)(a)   EUR 100    123,998 
3.00%, 09/21/25 (Call 06/21/25)(a)   EUR 100    126,082 
3.75%, 09/21/28 (Call 06/21/28)(a)   EUR 100    130,992 
ZF North America Capital Inc., 2.75%, 04/27/23(a)    EUR 200    247,088 
           8,391,810 
   Par     
Security   (000)   Value 
           
Greece — 1.3%          
Alpha Services and Holdings SA, 4.25%, 02/13/30 (Call 02/13/25)(a)(b)   EUR 100   $115,394 
Eurobank SA, 2.00%, 05/05/27 (Call 05/05/26)(a)(b)   EUR 100    118,309 
Mytilineos SA, 2.25%, 10/30/26(a)   EUR 100    120,625 
National Bank of Greece SA, 2.75%, 10/08/26 (Call 10/08/25)(a)(b)   EUR 200    245,271 
Piraeus Financial Holdings SA, 9.75%, 06/26/29 (Call 06/26/24)(a)(b)   EUR 100    126,681 
Public Power Corp. SA          
3.38%, 07/31/28 (Call 07/31/24)(a)   EUR 100    120,975 
3.88%, 03/30/26 (Call 03/30/23)(a)   EUR 100    123,511 
         970,766 
Ireland — 1.2%          
AIB Group PLC          
1.88%, 11/19/29 (Call 11/19/24)(a)(b)   EUR 200    243,861 
2.88%, 05/30/31 (Call 05/30/26)(a)(b)   EUR 100    127,482 
Bank of Ireland Group PLC          
1.38%, 08/11/31 (Call 05/11/26)(a)(b)   EUR 100    118,880 
2.38%, 10/14/29 (Call 10/14/24)(a)(b)   EUR 100    123,902 
eircom Finance DAC          
1.75%, 11/01/24 (Call 11/01/21)(a)   EUR 100    118,682 
3.50%, 05/15/26 (Call 05/15/22)(a)   EUR 100    121,388 
         854,195 
Israel — 1.7%          
Teva Pharmaceutical Finance Netherlands II BV          
1.13%, 10/15/24(a)   EUR 300    337,053 
1.25%, 03/31/23 (Call 12/31/22)(a)   EUR 200    233,125 
1.63%, 10/15/28(a)   EUR 150    160,748 
3.25%, 04/15/22 (Call 01/15/22)   EUR 100    119,762 
4.50%, 03/01/25 (Call 12/01/24)   EUR 200    247,471 
6.00%, 01/31/25 (Call 01/31/24)   EUR 100    129,262 
         1,227,421 
Italy — 15.7%          
Atlantia SpA          
1.63%, 02/03/25(a)   EUR 100    121,568 
1.88%, 07/13/27 (Call 04/13/27)(a)   EUR 275    338,475 
1.88%, 02/12/28 (Call 11/12/27)(a)   EUR 100    122,383 
Autostrade per l’Italia SpA          
1.75%, 06/26/26(a)   EUR 100    123,067 
1.75%, 02/01/27(a)   EUR 100    122,684 
1.88%, 09/26/29 (Call 06/26/29)(a)   EUR 200    246,146 
2.00%, 01/15/30 (Call 10/15/29)(a)   EUR 400    494,703 
4.38%, 09/16/25(a)   EUR 100    136,377 
Banca IFIS SpA, 2.00%, 04/24/23(a)   EUR 100    120,371 
Banca Monte dei Paschi di Siena SpA          
2.63%, 04/28/25(a)   EUR 100    122,159 
3.63%, 09/24/24(a)   EUR 300    375,248 
4.00%, 07/10/22(a)   EUR 100    121,150 
5.38%, 01/18/28 (Call 01/18/23)(a)(b)   EUR 100    97,272 
10.50%, 07/23/29(a)   EUR 100    132,793 
Banca Popolare di Sondrio SCPA, 2.38%, 04/03/24(a)   EUR 100    123,972 
Banco BPM SpA          
0.88%, 07/15/26(a)   EUR 100    118,695 
1.75%, 04/24/23(a)   EUR 109    132,999 
1.75%, 01/28/25(a)   EUR 200    246,851 
4.25%, 10/01/29 (Call 10/01/24)(a)(b)   EUR 200    251,441 
4.38%, 09/21/27 (Call 09/21/22)(a)(b)   EUR 100    122,911 
BPER Banca, 1.88%, 07/07/25(a)   EUR 100    123,961 
Brunello Bidco SpA, 3.50%, 02/15/28 (Call 02/15/24)(a)    EUR 100    118,322 


2 

 

 

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

 

   Par     
Security  (000)    Value 
          
Italy (continued)            
Esselunga SpA, 0.88%, 10/25/23 (Call 07/25/23)(a)   EUR 100   $120,601 
Gamma Bidco SpA, 5.13%, 07/15/25 (Call 07/15/22)(a)    EUR 200    243,354 
Iccrea Banca SpA, 4.13%, 11/28/29 (Call 11/28/24)(a)(b)   EUR 100    120,493 
IMA Industria Macchine Automatiche SpA, 3.75%, 01/15/28 (Call 01/15/23)(a)   EUR 100    119,213 
Infrastrutture Wireless Italiane SpA            
1.63%, 10/21/28 (Call 07/21/28)(a)   EUR 100    121,956 
1.75%, 04/19/31 (Call 01/19/31)(a)   EUR 100    120,433 
1.88%, 07/08/26 (Call 04/08/26)(a)   EUR 150    186,243 
Intesa Sanpaolo SpA            
2.93%, 10/14/30(a)   EUR 200    256,043 
3.93%, 09/15/26(a)   EUR 175    234,525 
4.45%, 09/15/27 (Call 09/15/22)(a)(b)   EUR 150    186,205 
6.63%, 09/13/23(a)   EUR 100    133,829 
Leonardo SpA, 2.38%, 01/08/26 (Call 10/08/25)(a)    EUR 100    124,280 
Mediobanca Banca di Credito Finanziario SpA            
3.75%, 06/16/26   EUR 75    98,376 
5.75%, 04/18/23   EUR 50    64,890 
Nexi SpA            
1.63%, 04/30/26 (Call 01/30/26)(a)   EUR 200    237,632 
1.75%, 10/31/24 (Call 07/31/24)(a)   EUR 100    121,357 
2.13%, 04/30/29 (Call 01/30/29)(a)   EUR 150    177,186 
Rossini Sarl, 6.75%, 10/30/25 (Call 10/30/21)(a)   EUR 100    123,765 
Saipem Finance International BV            
2.63%, 01/07/25(a)   EUR 100    120,904 
3.75%, 09/08/23(a)   EUR 200    248,726 
Telecom Italia SpA/Milano            
1.63%, 01/18/29 (Call 10/18/28)(a)   EUR 100    116,677 
2.38%, 10/12/27 (Call 07/12/27)(a)   EUR 300    370,870 
2.50%, 07/19/23(a)   EUR 100    123,411 
2.88%, 01/28/26 (Call 10/28/25)(a)   EUR 418    526,695 
3.25%, 01/16/23(a)   EUR 150    185,835 
3.63%, 01/19/24(a)   EUR 307    390,525 
3.63%, 05/25/26(a)   EUR 100    131,796 
4.00%, 04/11/24 (Call 01/11/24)(a)   EUR 125    159,717 
5.25%, 02/10/22(a)   EUR 100    121,850 
UniCredit SpA            
2.00%, 09/23/29 (Call 09/23/24)(a)(b)   EUR 200    239,629 
2.73%, 01/15/32 (Call 01/15/27)(a)(b)   EUR 200    243,677 
4.38%, 01/03/27 (Call 01/03/22)(a)(b)   EUR 100    120,716 
6.95%, 10/31/22(a)   EUR 300    385,807 
Unione di Banche Italiane SpA            
4.38%, 07/12/29 (Call 07/12/24)(a)(b)   EUR 150    193,916 
5.88%, 03/04/29 (Call 03/04/24)(a)(b)   EUR 150    200,313 
Unipol Gruppo SpA            
3.00%, 03/18/25(a)   EUR 175    224,677 
3.25%, 09/23/30 (Call 06/23/30)(a)   EUR 300    399,736 
Webuild SpA, 1.75%, 10/26/24(a)   EUR 250    295,246 
           11,504,652 
Japan — 2.0%            
SoftBank Group Corp.            
2.13%, 07/06/24 (Call 04/06/24)(a)   EUR 175    206,731 
2.88%, 01/06/27 (Call 10/06/26)(a)   EUR 100    116,175 
3.13%, 09/19/25 (Call 06/21/25)(a)   EUR 250    300,344 
3.38%, 07/06/29 (Call 04/06/29)(a)   EUR 125    144,819 
3.88%, 07/06/32 (Call 04/06/32)(a)   EUR 100    115,751 
4.00%, 04/20/23 (Call 01/20/23)(a)   EUR 100    122,199 
4.00%, 09/19/29 (Call 06/21/29)(a)   EUR 100    120,803 
   Par     
Security  (000)    Value 
          
Japan (continued)            
5.00%, 04/15/28 (Call 01/16/28)(a)   EUR 250   $322,864 
           1,449,686 
Luxembourg — 4.4%            
Altice Financing SA            
2.25%, 01/15/25 (Call 01/15/22)(a)   EUR 100    115,001 
3.00%, 01/15/28 (Call 01/15/23)(a)   EUR 200    226,822 
Altice Finco SA, 4.75%, 01/15/28 (Call 10/15/22)(a)   EUR 100    116,073 
Altice France Holding SA            
4.00%, 02/15/28 (Call 02/15/23)(a)   EUR 100    114,485 
8.00%, 05/15/27 (Call 05/15/22)(a)   EUR 200    254,651 
ArcelorMittal SA            
0.95%, 01/17/23 (Call 10/17/22)(a)   EUR 100    120,015 
1.00%, 05/19/23 (Call 02/19/23)(a)   EUR 100    120,515 
1.75%, 11/19/25 (Call 08/19/25)(a)   EUR 100    125,564 
2.25%, 01/17/24 (Call 10/17/23)(a)   EUR 100    124,423 
Garfunkelux Holdco 3 SA            
6.75%, 11/01/25 (Call 11/01/22)(a)   EUR 100    123,017 
7.75%, 11/01/25 (Call 11/01/22)(a)   GBP 100    144,118 
INEOS Finance PLC            
2.13%, 11/15/25 (Call 11/15/21)(a)   EUR 100    118,724 
2.88%, 05/01/26 (Call 05/01/22)(a)   EUR 300    362,150 
Matterhorn Telecom SA, 3.13%, 09/15/26 (Call 09/15/22)(a)   EUR 200    239,804 
Mytilineos Financial Partners SA, 2.50%, 12/01/24 (Call 06/01/24)(a)   EUR 100    121,950 
PLT VII Finance Sarl, 4.63%, 01/05/26 (Call 07/15/22)(a)    EUR 100    122,109 
SIG Combibloc Purchase Co. Sarl, 2.13%, 06/18/25 (Call 03/18/25)(a)   EUR 100    125,519 
Summer BC Holdco A Sarl, 9.25%, 10/31/27 (Call 10/31/22)(a)   EUR 90    115,746 
Summer BC Holdco B Sarl, 5.75%, 10/31/26 (Call 10/31/22)(a)   EUR 150    185,986 
Vivion Investments Sarl            
3.00%, 08/08/24(a)   EUR 100    117,999 
3.50%, 11/01/25(a)   EUR 100    119,460 
           3,214,131 
Netherlands — 3.5%            
Lincoln Financing Sarl, 3.63%, 04/01/24 (Call 10/01/21)(a)   EUR 200    239,187 
Louis Dreyfus Co. BV            
1.63%, 04/28/28 (Call 01/28/28)(a)   EUR 100    121,181 
2.38%, 11/27/25 (Call 08/27/25)(a)   EUR 100    125,996 
OCI NV, 3.13%, 11/01/24 (Call 11/01/21)(a)    EUR 200    241,323 
PPF Telecom Group BV            
2.13%, 01/31/25 (Call 10/31/24)(a)   EUR 200    243,955 
3.25%, 09/29/27 (Call 06/29/27)(a)   EUR 100    128,030 
3.50%, 05/20/24 (Call 02/20/24)(a)   EUR 100    126,491 
Q-Park Holding I BV, 2.00%, 03/01/27 (Call 03/01/23)(a)    EUR 100    111,689 
Sigma Holdco BV, 5.75%, 05/15/26 (Call 05/15/22)(a)    EUR 100    114,547 
SNS Bank NV, 6.25%, 12/31/49(e)   EUR 50    0(f)
Trivium Packaging Finance BV, 3.75%, 08/15/26 (Call 08/15/22)(a)   EUR 100    119,831 
United Group BV            
3.13%, 02/15/26 (Call 02/15/22)(a)   EUR 100    114,594 
3.63%, 02/15/28 (Call 02/15/23)(a)   EUR 200    230,657 
4.63%, 08/15/28 (Call 08/15/24)(a)   EUR 100    120,158 
4.88%, 07/01/24 (Call 07/01/22)(a)   EUR 100    119,785 
UPC Holding BV, 3.88%, 06/15/29 (Call 06/15/22)(a)    EUR 100    121,292 
Ziggo Bond Co. BV, 3.38%, 02/28/30 (Call 02/15/25)(a)    EUR 150    176,672 
Ziggo BV, 4.25%, 01/15/27 (Call 01/15/22)(a)   EUR 80    97,914 
           2,553,302 
Norway — 0.3%            
Adevinta ASA, 2.63%, 11/15/25 (Call 11/15/22)(a)    EUR 200    242,359 


3

 

 

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

 

   Par     
Security  (000)    Value 
             
Portugal — 1.5%            
Banco Comercial Portugues SA            
1.13%, 02/12/27 (Call 02/12/26)(a)(b)   EUR 100   $117,093 
4.50%, 12/07/27 (Call 12/07/22)(a)(b)   EUR 100    122,304 
Caixa Geral de Depositos SA, 5.75%, 06/28/28 (Call 06/28/23)(a)(b)   EUR 200    259,853 
EDP - Energias de Portugal SA            
1.70%, 07/20/80 (Call 04/20/25)(a)(b)   EUR 100    120,349 
1.88%, 08/02/81 (Call 05/02/26)(a)(b)   EUR 100    120,546 
4.50%, 04/30/79 (Call 01/30/24)(a)(b)   EUR 200    258,901 
Novo Banco SA, 8.50%, 07/06/28 (Call 07/06/23)(a)(b)   EUR 100    120,190 
           1,119,236 
Spain — 5.2%            
Abanca Corp. Bancaria SA, 4.63%, 04/07/30            
(Call 04/07/25)(a)(b)   EUR 100    126,912 
Banco de Sabadell SA            
0.88%, 06/16/28 (Call 06/16/27)(a)(b)   EUR 100    117,671 
1.13%, 03/27/25(a)   EUR 200    242,714 
1.75%, 05/10/24(a)   EUR 100    123,231 
2.50%, 04/15/31(a)(b)   EUR 100    119,056 
5.38%, 12/12/28 (Call 12/12/23)(a)(b)   EUR 100    129,518 
5.63%, 05/06/26(a)   EUR 100    138,252 
Cellnex Finance Co. SA            
0.75%, 11/15/26 (Call 08/15/26)(a)   EUR 100    118,625 
1.25%, 01/15/29 (Call 10/15/28)(a)   EUR 200    234,988 
1.50%, 06/08/28 (Call 03/08/28)(a)   EUR 100    120,446 
2.00%, 02/15/33 (Call 11/15/32)(a)   EUR 300    358,647 
Cellnex Telecom SA            
1.00%, 04/20/27 (Call 01/20/27)(a)   EUR 100    118,466 
1.88%, 06/26/29 (Call 03/26/29)   EUR 100    122,418 
2.38%, 01/16/24 (Call 10/16/23)(a)   EUR 100    124,492 
2.88%, 04/18/25 (Call 01/18/25)(a)   EUR 100    128,570 
Cirsa Finance International Sarl, 6.25%, 12/20/23 (Call 06/20/22)(a)   EUR 100    119,936 
ContourGlobal Power Holdings SA            
2.75%, 01/01/26 (Call 01/01/23)(a)   EUR 100    121,017 
4.13%, 08/01/25 (Call 08/01/21)(a)   EUR 100    121,106 
El Corte Ingles SA            
3.00%, 03/15/24 (Call 10/15/21)(a)   EUR 100    119,968 
3.63%, 03/15/24 (Call 03/15/22)(a)   EUR 100    122,680 
Grifols SA            
1.63%, 02/15/25 (Call 02/15/22)(a)   EUR 150    179,462 
2.25%, 11/15/27 (Call 11/15/22)(a)   EUR 100    120,722 
3.20%, 05/01/25 (Call 05/01/22)(a)   EUR 200    239,081 
Ibercaja Banco SA, 2.75%, 07/23/30 (Call 07/23/25)(a)(b)   EUR 100    118,253 
Repsol International Finance BV, 4.50%, 03/25/75 (Call 03/25/25)(a)(b)   EUR 175    227,365 
           3,813,596 
Sweden — 3.2%            
Akelius Residential Property AB            
2.25%, 05/17/81 (Call 02/17/26)(a)(b)   EUR 100    119,762 
3.88%, 10/05/78 (Call 10/05/23)(a)(b)   EUR 100    125,552 
Fastighets AB Balder            
2.87%, 06/02/81 (Call 03/02/26)(a)(b)   EUR 100    118,082 
3.00%, 03/07/78 (Call 03/07/23)(a)(b)   EUR 100    120,905 
Intrum AB            
3.00%, 09/15/27 (Call 09/15/22)(a)   EUR 100    116,873 
3.13%, 07/15/24 (Call 07/15/22)(a)   EUR 100    119,116 
3.50%, 07/15/26 (Call 07/15/22)(a)   EUR 175    210,720 
4.88%, 08/15/25 (Call 08/15/22)(a)   EUR 200    248,552 
   Par     
Security  (000)    Value 
          
Sweden (continued)            
Verisure Holding AB            
3.25%, 02/15/27 (Call 02/15/23)(a)   EUR 150   $178,456 
3.50%, 05/15/23 (Call 05/08/22)(a)   EUR 100    119,587 
3.88%, 07/15/26 (Call 07/15/22)(a)   EUR 100    121,713 
Verisure Midholding AB, 5.25%, 02/15/29 (Call 02/15/24)(a)   EUR 300    366,503 
Volvo Car AB            
2.00%, 01/24/25 (Call 10/24/24)(a)   EUR 200    248,832 
2.13%, 04/02/24 (Call 01/02/24)(a)   EUR 100    123,737 
           2,338,390 
Switzerland — 0.5%            
Dufry One BV            
2.00%, 02/15/27 (Call 02/15/22)(a)   EUR 100    111,358 
2.50%, 10/15/24 (Call 10/15/21)(a)   EUR 100    117,247 
3.38%, 04/15/28 (Call 04/15/24)(a)   EUR 100    117,232 
           345,837 
United Kingdom — 12.5%            
Arqiva Broadcast Finance PLC, 6.75%, 09/30/23 (Call 09/30/21)(a)   GBP 150    213,573 
Bellis Acquisition Co. PLC, 3.25%, 02/16/26 (Call 02/24/23)(a)   GBP 300    415,940 
Bellis Finco PLC, 4.00%, 02/16/27 (Call 02/24/23)(a)    GBP 200    276,958 
British Telecommunications PLC, 1.87%, 08/18/80 (Call 05/18/25)(a)(b)   EUR 100    116,512 
Cidron Aida Finco Sarl, 5.00%, 04/01/28 (Call 04/01/24)(a)   EUR 100    119,434 
Deuce Finco PLC, 5.50%, 06/15/27 (Call 06/15/23)(a)   GBP 100    138,455 
eG Global Finance PLC, 4.38%, 02/07/25 (Call 05/15/22)(a)   EUR 225    262,124 
GKN Holdings Ltd., 4.63%, 05/12/32(a)   GBP 100    153,635 
Heathrow Finance PLC            
4.38%, 03/01/27(a)(g)   GBP 100    141,172 
5.25%, 03/01/24 (Call 12/01/23)(a)(b)   GBP 100    145,290 
Iceland Bondco PLC, 4.38%, 05/15/28 (Call 02/15/24)(a)    GBP 100    128,738 
INEOS Quattro Finance 2 PLC, 2.50%, 01/15/26 (Call 01/15/23)(a)   EUR 100    119,624 
INEOS Styrolution Group GmbH, 2.25%, 01/16/27 (Call 01/15/23)(a)   EUR 200    234,124 
International Consolidated Airlines Group SA            
0.50%, 07/04/23 (Call 04/04/23)(a)   EUR 100    114,998 
1.50%, 07/04/27 (Call 04/04/27)(a)   EUR 100    107,225 
2.75%, 03/25/25 (Call 12/25/24)(a)   EUR 100    118,383 
3.75%, 03/25/29 (Call 12/25/28)(a)   EUR 100    118,210 
Jaguar Land Rover Automotive PLC            
2.20%, 01/15/24(a)   EUR 100    116,745 
3.88%, 03/01/23(a)   GBP 100    140,576 
4.50%, 01/15/26 (Call 10/15/25)(a)   EUR 150    184,104 
4.50%, 07/15/28 (Call 07/15/24)(a)   EUR 100    119,618 
5.88%, 11/15/24 (Call 08/15/24)(a)   EUR 100    128,125 
Jerrold Finco PLC, 5.25%, 01/15/27 (Call 01/15/23)(a)   GBP 100    144,595 
Marks & Spencer PLC            
3.75%, 05/19/26 (Call 02/19/26)(a)   GBP 100    144,465 
6.00%, 06/12/25(a)   GBP 100    155,882 
Modulaire Global Finance PLC, 6.50%, 02/15/23 (Call 02/15/22)(a)   EUR 100    121,046 
Motion Finco Sarl, 7.00%, 05/15/25 (Call 05/15/22)(a)    EUR 100    125,142 
NGG Finance PLC            
1.63%, 12/05/79 (Call 12/05/24)(a)(b)   EUR 100    120,262 
2.13%, 09/05/82 (Call 06/05/27)(a)(b)   EUR 100    121,164 
5.63%, 06/18/73 (Call 06/18/25)(a)(b)   GBP 200    310,724 
Pinewood Finance Co. Ltd., 3.25%, 09/30/25 (Call 09/30/21)(a)   GBP 100    141,105 
Pinnacle Bidco PLC, 5.50%, 02/15/25 (Call 01/15/22)(a)    EUR 100    121,330 


4 

 

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

 

   Par     
Security  (000)    Value 
          
United Kingdom (continued)            
Rolls-Royce PLC            
0.88%, 05/09/24 (Call 02/09/24)(a)   EUR 200   $233,172 
1.63%, 05/09/28 (Call 02/09/28)(a)   EUR 100    109,931 
4.63%, 02/16/26 (Call 11/16/25)(a)   EUR 100    128,714 
5.75%, 10/15/27 (Call 07/15/27)(a)   GBP 100    151,778 
Stonegate Pub Co. Financing 2019 PLC, 8.25%, 07/31/25 (Call 07/31/22)(a)   GBP 200    292,097 
Thames Water Utilities Finance PLC            
2.88%, 05/03/27(a)   GBP 200    289,887 
5.75%, 09/13/30 (Call 09/13/22)(b)   GBP 100    145,454 
Victoria PLC, 3.63%, 08/24/26 (Call 02/28/23)(a)   EUR 200    241,836 
Virgin Media Finance PLC, 3.75%, 07/15/30 (Call 07/15/25)(a)   EUR 100    118,742 
Virgin Media Secured Finance PLC            
4.13%, 08/15/30 (Call 08/15/25)(a)   GBP 100    137,946 
4.25%, 01/15/30 (Call 10/10/24)(a)   GBP 100    138,916 
5.00%, 04/15/27 (Call 04/15/22)(a)   GBP 200    288,607 
5.25%, 05/15/29 (Call 05/15/24)(a)   GBP 100    146,601 
Vmed O2 UK Financing I PLC            
3.25%, 01/31/31 (Call 01/31/26)(a)   EUR 100    119,627 
4.00%, 01/31/29 (Call 01/31/24)(a)   GBP 100    137,643 
4.50%, 07/15/31 (Call 07/15/26)(a)   GBP 200    280,619 
Vodafone Group PLC            
3.10%, 01/03/79 (Call 01/03/24)(a)(b)   EUR 300    371,501 
4.88%, 10/03/78 (Call 10/03/25)(a)(b)   GBP 100    150,790 
Series NC10, 3.00%, 08/27/80 (Call 05/27/30)(a)(b)    EUR 250    308,596 
Series NC6, 2.63%, 08/27/80 (Call 05/27/26)(a)(b)    EUR 200    247,410 
           9,159,145 
United States — 17.3%            
Adient Global Holdings Ltd., 3.50%, 08/15/24 (Call 05/15/24)(a)   EUR 175    212,500 
Allied Universal Holdco LLC/Allied Universal Finance            
Corp/Atlas Luxco 4 Sarl            
3.63%, 06/01/28 (Call 06/01/24)(a)   EUR 100    117,780 
4.88%, 06/01/28 (Call 06/01/24)(a)   GBP 100    138,058 
Alpha Bank AE, 5.50%, 06/11/31 (Call 03/11/26)(a)(b)   EUR 100    118,976 
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC            
2.00%, 09/01/28 (Call 05/15/24)(a)   EUR 100    119,407 
3.00%, 09/01/29 (Call 05/15/24)(a)   EUR 100    118,775 
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc.            
2.13%, 08/15/26 (Call 08/15/22)(a)   EUR 200    237,303 
4.75%, 07/15/27 (Call 07/15/22)(a)   GBP 100    142,044 
Ashland Services BV, 2.00%, 01/30/28 (Call 11/01/27)(a)    EUR 100    120,460 
Avantor Funding Inc., 2.63%, 11/01/25 (Call 11/01/22)(a)    EUR 200    243,368 
Avis Budget Finance PLC            
4.13%, 11/15/24 (Call 11/15/21)(a)   EUR 100    120,785 
4.75%, 01/30/26 (Call 09/30/21)(a)   EUR 100    120,549 
Axalta Coating Systems Dutch Holding B BV, 3.75%, 01/15/25 (Call 01/15/22)(a)   EUR 100    120,464 
Ball Corp.            
0.88%, 03/15/24 (Call 12/15/23)   EUR 100    119,725 
1.50%, 03/15/27   EUR 100    120,693 
4.38%, 12/15/23   EUR 100    130,187 
Banff Merger Sub Inc., 8.38%, 09/01/26 (Call 09/01/21)(a)   EUR 100    123,958 
Belden Inc., 3.88%, 03/15/28 (Call 03/06/23)(a)    EUR 250    307,906 
Boxer Parent Co. Inc., 6.50%, 10/02/25 (Call 06/01/22)(a)   EUR 100    124,957 
BPER Banca, 1.38%, 03/31/27 (Call 03/31/26)(a)(b)   EUR 100    120,106 
Carnival PLC, 1.00%, 10/28/29 (Call 07/28/29)   EUR 100    94,756 
Catalent Pharma Solutions Inc., 2.38%, 03/01/28 (Call 03/01/23)(a)   EUR 150    178,918 
   Par     
Security  (000)    Value 
             
United States (continued)            
Chemours Co. (The), 4.00%, 05/15/26 (Call 05/15/22)   EUR 100   $120,980 
Clarios Global LP/Clarios US Finance Co., 4.38%, 05/15/26 (Call 05/15/22)(a)   EUR 125    153,028 
Cogent Communications Group Inc., 4.38%, 06/30/24 (Call 06/30/22)(a)   EUR 100    120,901 
Constellium SE, 3.13%, 07/15/29 (Call 07/15/24)(a)   EUR 100    117,693 
Coty Inc.            
3.88%, 04/15/26 (Call 04/15/23)(a)   EUR 100    118,967 
4.75%, 04/15/26 (Call 04/15/22)(a)   EUR 100    115,131 
Crown European Holdings SA            
0.75%, 02/15/23 (Call 01/16/23)(a)   EUR 100    119,098 
2.25%, 02/01/23 (Call 11/01/22)(a)   EUR 100    121,287 
2.63%, 09/30/24 (Call 03/30/24)(a)   EUR 125    155,621 
2.88%, 02/01/26 (Call 08/01/25)(a)   EUR 100    126,522 
Darling Global Finance BV, 3.63%, 05/15/26 (Call 05/15/22)(a)   EUR 100    120,648 
Encore Capital Group Inc., 5.38%, 02/15/26 (Call 11/15/22)(a)   GBP 100    145,907 
Energizer Gamma Acquisition BV, 3.50%, 06/30/29 (Call 06/16/24)(a)   EUR 100    118,727 
Fluor Corp., 1.75%, 03/21/23 (Call 12/21/22)   EUR 100    120,742 
Ford Credit Canada Co.            
3.50%, 11/30/23   CAD 100    81,771 
3.74%, 05/08/23   CAD 75    61,773 
4.46%, 11/13/24   CAD 100    84,543 
Ford Motor Credit Co. LLC            
1.36%, 02/07/25   EUR 100    119,683 
1.51%, 02/17/23   EUR 100    120,466 
1.74%, 07/19/24   EUR 100    121,199 
2.33%, 11/25/25   EUR 100    124,155 
2.39%, 02/17/26   EUR 225    280,264 
2.75%, 06/14/24   GBP 200    283,096 
3.02%, 03/06/24   EUR 100    124,900 
3.25%, 09/15/25   EUR 100    128,706 
Hanesbrands Finance Luxembourg SCA, 3.50%, 06/15/24 (Call 03/15/24)(a)   EUR 100    125,744 
International Game Technology PLC            
3.50%, 07/15/24 (Call 01/15/24)(a)   EUR 225    279,962 
3.50%, 06/15/26 (Call 06/15/22)(a)   EUR 150    181,899 
IQVIA Inc.            
1.75%, 03/15/26 (Call 03/15/23)(a)   EUR 100    120,313 
2.25%, 01/15/28 (Call 07/15/22)(a)   EUR 150    180,018 
2.25%, 03/15/29 (Call 03/15/24)(a)   EUR 200    238,759 
2.88%, 09/15/25 (Call 09/15/21)(a)   EUR 100    119,810 
Iron Mountain UK PLC, 3.88%, 11/15/25 (Call 11/15/21)(a)    GBP 100    140,739 
Kraft Heinz Foods Co.            
2.00%, 06/30/23 (Call 03/30/23)(a)   EUR 200    245,174 
2.25%, 05/25/28 (Call 02/25/28)(a)   EUR 200    260,685 
4.13%, 07/01/27 (Call 04/01/27)(a)   GBP 100    155,885 
Levi Strauss & Co., 3.38%, 03/15/27 (Call 03/15/22)   EUR 100    122,385 
Liberty Mutual Group Inc., 3.63%, 05/23/59 (Call 05/23/24)(a)(b)   EUR 100    123,494 
Mauser Packaging Solutions Holding Co., 4.75%, 04/15/24 (Call 04/15/22)(a)   EUR 100    118,375 
MPT Operating Partnership LP/MPT Finance Corp.            
2.50%, 03/24/26 (Call 02/24/26)   GBP 100    141,917 
3.33%, 03/24/25 (Call 12/24/24)   EUR 100    128,356 
3.38%, 04/24/30 (Call 01/24/30)   GBP 100    144,806 
3.69%, 06/05/28 (Call 04/05/28)   GBP 100    148,779 
4.00%, 08/19/22 (Call 05/19/22)   EUR 100    122,417 
Netflix Inc.            
3.00%, 06/15/25 (Call 03/15/25)(a)   EUR 100    129,428 


5

 

 

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

 

Security 

Par/

Shares

(000)

   Value 
         
United States (continued)            
3.63%, 05/15/27   EUR 150   $206,360 
3.63%, 06/15/30 (Call 03/15/30)(a)   EUR 250    357,946 
3.88%, 11/15/29(a)    EUR 200    289,128 
4.63%, 05/15/29   EUR 200    300,792 
Novelis Sheet Ingot GmbH, 3.38%, 04/15/29 (Call 04/15/24)(a)   EUR 100    122,874 
OI European Group BV, 3.13%, 11/15/24 (Call 08/15/24)(a)   EUR 200    245,909 
Organon & Co./Organon Foreign Debt Co-Issuer BV., 2.88%, 04/30/28 (Call 04/30/24)(a)   EUR 200    241,427 
Playtech PLC, 3.75%, 10/12/23 (Call 10/12/21)(a)   EUR 100    120,083 
Primo Water Holdings Inc., 3.88%, 10/31/28 (Call 10/31/23)(a)   EUR 100    121,155 
Scientific Games International Inc., 5.50%, 02/15/26 (Call 02/15/22)(a)   EUR 100    120,938 
Sealed Air Corp., 4.50%, 09/15/23 (Call 06/15/23)(a)   EUR 100    127,713 
Silgan Holdings Inc.            
2.25%, 06/01/28 (Call 03/01/23)   EUR 100    119,229 
3.25%, 03/15/25 (Call 03/15/22)   EUR 100    119,615 
Spectrum Brands Inc., 4.00%, 10/01/26 (Call 10/01/21)(a)   EUR 100    120,952 
Standard Industries Inc./NJ, 2.25%, 11/21/26 (Call 08/21/26)(a)   EUR 100    116,836 
Videotron Ltd., 3.13%, 01/15/31 (Call 01/15/26)   CAD 50    37,826 
WMG Acquisition Corp., 3.63%, 10/15/26 (Call 10/15/21)(a)   EUR 100    121,356 
           12,676,567 
Total Corporate Bonds & Notes — 98.0%            
(Cost: $69,106,604)          71,797,247 
             
Common Stocks            
             
South Africa — 0.0%            
Sentry Holdings Ltd.Class A    0(h)   0(f)
             
Total Common Stocks — 0.0%            
(Cost: $159,437)          0(f)
Security 

 

Shares

(000)

   Value 
         
Short-Term Investments          
           
Money Market Funds — 0.0%          
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(i)(j)   20   $20,000 
           
Total Short-Term Investments — 0.0%          
(Cost: $20,000)        20,000 
           
Total Investments in Securities — 98.0%          
(Cost: $69,286,041)        71,817,247 
           
Other Assets, Less Liabilities — 2.0%        1,465,125 
           
Net Assets — 100.0%        $73,282,372 

 

(a)This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.
(b)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.
(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)Issuer filed for bankruptcy and/or is in default.
(e)Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(f)Rounds to less than $1.
(g)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.
(h)Rounds to less than 1,000.
(i)Affiliate of the Fund.
(j)Annualized 7-day yield as of period-end.


Affiliates

 

Investments in issuers considered to be affiliate(s) of the Fund during the period ended July 31, 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: Treasury, SL Agency Shares  $40,000   $—   $(20,000)(a)   $—   $—   $20,000    20   $5   $— 

 

(a) Represents net amount purchased (sold).

 

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

 

6 

 

 

Schedule of Investments (unaudited) (continued) iShares®  International High Yield Bond ETF
July 31, 2021

 

Fair Value Measurements (continued)

 

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  $—    $71,797,247   $0(a)    $71,797,247 
Common Stocks   —    0(a)    —    0(a) 
Money Market Funds   20,000    —    —    20,000 
   $20,000    $71,797,247   $0(a)    $71,817,247 

 

(a)Rounds to less than $1.

 

Portfolio Abbreviations - Fixed Income

 

CABCapital Appreciation Bonds

 

Currency Abbreviations

 

CADCanadian Dollar
EUREuro
GBPBritish Pound

 

7