| Schedule of Investments (unaudited) | iShares® Emerging Markets Dividend ETF |
| July 31, 2021 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Common Stocks | ||||||||
| Brazil — 7.3% | ||||||||
| AES Brasil Energia SA | 3,193,640 | $ | 8,504,927 | |||||
| BB Seguridade Participacoes SA | 1,638,753 | 6,723,977 | ||||||
| CCR SA | 2,750,071 | 6,864,287 | ||||||
| Cyrela Brazil Realty SA Empreendimentos e Participacoes | 2,397,841 | 9,599,191 | ||||||
| Telefonica Brasil SA | 1,318,327 | 10,431,192 | ||||||
| Transmissora Alianca de Energia Eletrica SA | 2,236,203 | 16,315,598 | ||||||
| 58,439,172 | ||||||||
| China — 19.6% | ||||||||
| Agile Group Holdings Ltd. | 5,516,000 | 6,034,801 | ||||||
| Agricultural Bank of China Ltd., Class H | 15,683,000 | 5,229,862 | ||||||
| Bank of China Ltd., Class H | 18,899,000 | 6,567,219 | ||||||
| BBMG Corp., Class H(a) | 36,339,000 | 6,408,835 | ||||||
| China Aoyuan Group Ltd. | 8,146,000 | 5,209,561 | ||||||
| China Construction Bank Corp., Class H | 6,219,000 | 4,331,803 | ||||||
| China Merchants Port Holdings Co. Ltd. | 3,828,000 | 5,333,850 | ||||||
| China Minsheng Banking Corp. Ltd., Class H | 13,213,500 | 5,375,371 | ||||||
| China Petroleum & Chemical Corp., Class H | 8,832,000 | 4,038,612 | ||||||
| China Power International Development Ltd.(a) | 36,016,999 | 8,245,611 | ||||||
| China Sanjiang Fine Chemicals Co. Ltd.(a) | 16,795,000 | 6,431,501 | ||||||
| China Shenhua Energy Co. Ltd., Class H | 4,622,000 | 8,745,845 | ||||||
| Chongqing Rural Commercial Bank Co. Ltd., Class H | 15,001,000 | 5,598,884 | ||||||
| Guangzhou R&F Properties Co. Ltd., Class H | 8,974,400 | 7,875,149 | ||||||
| Industrial & Commercial Bank of China Ltd., Class H | 7,304,000 | 4,055,860 | ||||||
| Lonking Holdings Ltd. | 22,735,000 | 7,085,875 | ||||||
| PICC Property & Casualty Co. Ltd., Class H | 9,506,000 | 7,679,096 | ||||||
| Poly Property Group Co. Ltd. | 26,735,000 | 6,510,368 | ||||||
| Shenzhen Investment Ltd. | 17,008,000 | 4,779,681 | ||||||
| Sinopec Engineering Group Co. Ltd., Class H | 16,080,000 | 9,167,306 | ||||||
| Sinopec Shanghai Petrochemical Co. Ltd., Class H | 26,162,000 | 5,450,502 | ||||||
| Times China Holdings Ltd.(a) | 5,094,000 | 4,817,467 | ||||||
| Yanzhou Coal Mining Co. Ltd., Class H | 7,656,000 | 11,381,511 | ||||||
| Yuzhou Group Holdings Co. Ltd. | 25,919,656 | 5,336,591 | ||||||
| Zhejiang Expressway Co. Ltd., Class H | 6,080,000 | 5,132,419 | ||||||
| 156,823,580 | ||||||||
| Czech Republic — 1.2% | ||||||||
| CEZ AS | 344,657 | 9,560,849 | ||||||
| Hong Kong — 1.5% | ||||||||
| Atlas Corp. | 235,489 | 3,077,841 | ||||||
| CP Pokphand Co. Ltd.(a) | 88,654,000 | 9,013,922 | ||||||
| 12,091,763 | ||||||||
| India — 3.3% | ||||||||
| Coal India Ltd. | 5,134,138 | 9,900,347 | ||||||
| Oil India Ltd. | 2,881,377 | 6,465,476 | ||||||
| REC Ltd. | 5,066,511 | 10,304,230 | ||||||
| 26,670,053 | ||||||||
| Indonesia — 4.4% | ||||||||
| Adaro Energy Tbk PT | 148,062,400 | 13,674,118 | ||||||
| Bukit Asam Tbk PT | 86,408,200 | 13,325,308 | ||||||
| Hanjaya Mandala Sampoerna Tbk PT | 119,539,400 | 8,647,300 | ||||||
| 35,646,726 | ||||||||
| Malaysia — 2.8% | ||||||||
| British American Tobacco Malaysia Bhd(a) | 2,763,300 | 9,586,425 | ||||||
| Genting Malaysia Bhd | 8,619,200 | 5,632,398 | ||||||
| Malayan Banking Bhd | 4,051,500 | 7,690,169 | ||||||
| 22,908,992 | ||||||||
| Security | Shares | Value | ||||||
| Philippines — 0.9% | ||||||||
| PLDT Inc. | 282,730 | $ | 6,936,710 | |||||
| Qatar — 0.6% | ||||||||
| Barwa Real Estate Co. | 6,002,478 | 4,943,445 | ||||||
| Russia — 19.5% | ||||||||
| Federal Grid Co. Unified Energy System PJSC | 3,884,884,828 | 10,679,221 | ||||||
| Globaltrans Investment PLC | 2,858,003 | 22,450,380 | ||||||
| LUKOIL PJSC | 110,230 | 9,464,951 | ||||||
| Magnit PJSC | 153,657 | 11,245,995 | ||||||
| Magnitogorsk Iron & Steel Works PJSC | 12,991,891 | 12,199,509 | ||||||
| MMC Norilsk Nickel PJSC | 20,961 | 7,244,862 | ||||||
| Mobile TeleSystems PJSC, ADR | 1,204,529 | 10,346,904 | ||||||
| Moscow Exchange MICEX-RTS PJSC | 2,612,460 | 6,184,161 | ||||||
| Novolipetsk Steel PJSC, GDR | 299,602 | 10,511,152 | ||||||
| PhosAgro PJSC, GDR | 478,061 | 9,097,501 | ||||||
| Rostelecom PJSC | 4,121,517 | 5,243,049 | ||||||
| Sberbank of Russia PJSC | 2,351,235 | 9,829,984 | ||||||
| Severstal PAO | 614,190 | 15,023,298 | ||||||
| Tatneft PJSC | 1,025,920 | 6,849,586 | ||||||
| Unipro PJSC | 264,093,000 | 9,902,933 | ||||||
| 156,273,486 | ||||||||
| South Africa — 5.6% | ||||||||
| Coronation Fund Managers Ltd. | 2,882,518 | 9,525,485 | ||||||
| Exxaro Resources Ltd. | 778,464 | 9,633,533 | ||||||
| Kumba Iron Ore Ltd. | 306,229 | 16,246,767 | ||||||
| Truworths International Ltd. | 2,230,694 | 9,409,224 | ||||||
| 44,815,009 | ||||||||
| Taiwan — 13.0% | ||||||||
| Asustek Computer Inc. | 547,000 | 6,877,228 | ||||||
| Chong Hong Construction Co. Ltd. | 3,371,000 | 9,677,284 | ||||||
| Far EasTone Telecommunications Co. Ltd. | 2,098,000 | 4,547,059 | ||||||
| Formosa Taffeta Co. Ltd. | 9,837,000 | 11,460,748 | ||||||
| Huaku Development Co. Ltd. | 3,494,000 | 10,620,061 | ||||||
| Inventec Corp. | 7,520,475 | 6,318,931 | ||||||
| Merry Electronics Co. Ltd. | 1,052,943 | 4,196,568 | ||||||
| Radiant Opto-Electronics Corp. | 2,055,000 | 7,770,150 | ||||||
| Simplo Technology Co. Ltd. | 408,600 | 5,405,203 | ||||||
| Supreme Electronics Co. Ltd. | 7,466,513 | 11,859,112 | ||||||
| Systex Corp. | 2,521,000 | 7,902,026 | ||||||
| Taiwan Cement Corp. | 4,832,884 | 9,114,379 | ||||||
| WPG Holdings Ltd. | 4,269,280 | 8,346,060 | ||||||
| 104,094,809 | ||||||||
| Thailand — 7.1% | ||||||||
| Jasmine International PCL, NVDR(a) | 112,756,100 | 10,157,017 | ||||||
| Kiatnakin Phatra Bank PCL, NVDR(a) | 2,364,600 | 3,667,364 | ||||||
| Land & Houses PCL, NVDR | 30,183,000 | 7,164,994 | ||||||
| Quality Houses PCL, NVDR | 83,070,000 | 5,560,874 | ||||||
| Thanachart Capital PCL, NVDR | 10,340,900 | 10,222,413 | ||||||
| Tisco Financial Group PCL, NVDR(a) | 2,705,300 | 7,241,412 | ||||||
| Total Access Communication PCL, NVDR(a) | 11,096,900 | 12,753,563 | ||||||
| 56,767,637 | ||||||||
| Turkey — 0.9% | ||||||||
| Tofas Turk Otomobil Fabrikasi AS | 1,801,585 | 7,008,777 | ||||||
| United Arab Emirates — 3.4% | ||||||||
| Abu Dhabi Commercial Bank PJSC | 3,278,958 | 6,266,633 | ||||||
| Aldar Properties PJSC | 5,122,139 | 5,528,400 | ||||||
| Dubai Investments PJSC | 21,564,441 | 9,984,034 | ||||||
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| Schedule of Investments (unaudited) (continued) | iShares® Emerging Markets Dividend ETF |
| July 31, 2021 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| United Arab Emirates (continued) | ||||||||
| Dubai Islamic Bank PJSC | 4,279,207 | $ | 5,626,089 | |||||
| 27,405,156 | ||||||||
| United Kingdom — 1.1% | ||||||||
| Evraz PLC | 1,003,742 | 8,575,844 | ||||||
| Total Common Stocks — 92.2% | ||||||||
| (Cost: $706,220,344) | 738,962,008 | |||||||
| Preferred Stocks | ||||||||
| Brazil — 4.4% | ||||||||
| Cia. de Transmissao de Energia Eletrica Paulista, Preference Shares, NVS | 3,275,660 | 15,176,245 | ||||||
| Cia. Energetica de Minas Gerais, Preference Shares, NVS | 3,526,039 | 8,083,503 | ||||||
| Cia. Energetica de Sao Paulo, Class B, Preference Shares, NVS | 2,645,683 | 11,846,076 | ||||||
| 35,105,824 | ||||||||
| Russia — 1.6% | ||||||||
| Bashneft PJSC, Preference Shares, NVS | 53,825 | 736,086 | ||||||
| Transneft PJSC, Preference Shares, NVS | 5,411 | 12,037,866 | ||||||
| 12,773,952 | ||||||||
| Total Preferred Stocks — 6.0% | ||||||||
| (Cost: $47,194,165) | 47,879,776 | |||||||
| Security | Shares | Value | ||||||
| Short-Term Investments | ||||||||
| Money Market Funds — 2.6% | ||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares, 0.06%(b)(c)(d) | 17,795,405 | $ | 17,804,303 | |||||
| BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(b)(c) | 3,250,000 | 3,250,000 | ||||||
| 21,054,303 | ||||||||
| Total Short-Term Investments — 2.6% | ||||||||
| (Cost: $21,051,175) | 21,054,303 | |||||||
| Total Investments in Securities — 100.8% | ||||||||
| (Cost: $774,465,684) | 807,896,087 | |||||||
| Other Assets, Less Liabilities — (0.8)% | (6,753,811 | ) | ||||||
| Net Assets — 100.0% | $ | 801,142,276 | ||||||
| (a) | All or a portion of this security is on loan. |
| (b) | Affiliate of the Fund. |
| (c) | Annualized 7-day yield as of period-end. |
| (d) | 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 04/30/21 | 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 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares | $ | 9,627,376 | $ | 8,177,323 | (a) | $ | — | $ | (236 | ) | $ | (160 | ) | $ | 17,804,303 | 17,795,405 | $ | 213,176 | (b) | $ | — | |||||||||||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares | 1,090,000 | 2,160,000 | (a) | — | — | — | 3,250,000 | 3,250,000 | 29 | — | ||||||||||||||||||||||||||
| $ | (236 | ) | $ | (160 | ) | $ | 21,054,303 | $ | 213,205 | $ | — | |||||||||||||||||||||||||
| (a) | Represents net amount purchased (sold). |
| (b) | All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
Futures Contracts
| Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) | ||||||||||
| Long Contracts | ||||||||||||||
| MSCI Emerging Markets E-Mini Index | 197 | 09/17/21 | $ | 12,585 | $ | (743,731 | ) | |||||||
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| Schedule of Investments (unaudited) (continued) | iShares® Emerging Markets Dividend 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 | ||||||||||||||||
| Common Stocks | $ | 151,645,250 | $ | 587,316,758 | $ | — | $ | 738,962,008 | ||||||||
| Preferred Stocks | 35,105,824 | 12,773,952 | — | 47,879,776 | ||||||||||||
| Money Market Funds | 21,054,303 | — | — | 21,054,303 | ||||||||||||
| $ | 207,805,377 | $ | 600,090,710 | $ | — | $ | 807,896,087 | |||||||||
| Derivative financial instruments(a) | ||||||||||||||||
| Liabilities | ||||||||||||||||
| Futures Contracts | $ | (743,731 | ) | $ | — | $ | — | $ | (743,731 | ) | ||||||
| (a) | Shown at the unrealized appreciation (depreciation) on the contracts. |
| Portfolio Abbreviations - Equity | |
| ADR | American Depositary Receipt |
| GDR | Global Depositary Receipt |
| NVDR | Non-Voting Depositary Receipt |
| NVS | Non-Voting Shares |
| PJSC | Public Joint Stock Company |
3