Schedule of Investments (unaudited)	iShares® MSCI Global Metals & Mining Producers ETF
November 30, 2021	(Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Australia — 35.8%
29Metals Ltd.(a)		229,341	$	426,698
Alumina Ltd.		2,354,535		2,993,077
Australian Strategic Materials Ltd.(a)		84,597		803,262
AVZ Minerals Ltd.(a)		2,261,625		1,112,417
BHP Group Ltd.		2,815,173		78,863,589
BHP Group PLC		2,017,125		55,120,049
BlueScope Steel Ltd.		481,665		6,694,795
Chalice Mining Ltd.(a)		304,647		2,138,756
Champion Iron Ltd.(a)(b)		313,449		992,554
Deterra Royalties Ltd.		409,782		1,197,458
Fortescue Metals Group Ltd.		1,616,145		19,407,893
Glencore PLC		9,535,500		45,272,573
IGO Ltd.		651,837		4,827,443
Iluka Resources Ltd.		403,914		2,456,683
Imdex Ltd.		356,970		712,505
IONEER Ltd.(a)		1,334,970		632,836
Liontown Resources Ltd.(a)		1,263,087		1,728,751
Lynas Rare Earths Ltd.(a)		861,129		5,394,452
Mineral Resources Ltd.		153,057		4,912,034
Nickel Mines Ltd.		978,489		978,884
Orocobre Ltd.(a)		549,147		3,946,725
OZ Minerals Ltd.		318,339		5,854,424
Perenti Global Ltd.		580,608		337,550
Pilbara Minerals Ltd.(a)		2,245,488		4,104,533
Rio Tinto Ltd.		354,525		23,523,701
Rio Tinto PLC		1,072,734		65,763,001
Sandfire Resources Ltd.		367,239		1,560,723
Sayona Mining Ltd.(a)		3,940,461		421,344
Sims Ltd.		165,771		1,655,185
South32 Ltd.		4,465,548		11,158,828
Vulcan Energy Resources Ltd.(a)		81,174		638,250
Western Areas Ltd.(a)		311,004		626,035
				356,257,008
Austria — 0.4%
voestalpine AG		111,003		3,746,075
Belgium — 0.1%
Bekaert SA		34,719		1,397,623
Brazil — 5.0%
Cia. Siderurgica Nacional SA		661,617		2,560,862
Companhia Brasileira de Aluminio(a)		130,563		277,994
Vale SA		3,782,415		47,062,787
				49,901,643
Canada — 4.7%
Altius Minerals Corp.		39,120		493,957
Capstone Mining Corp.(a)		295,356		1,449,671
ERO Copper Corp.(a)		63,081		1,021,187
First Quantum Minerals Ltd.		560,394		11,945,304
Hudbay Minerals Inc.		212,715		1,435,362
Ivanhoe Mines Ltd., Class A(a)		577,998		4,587,968
Labrador Iron Ore Royalty Corp.(b)		54,768		1,555,001
Largo Inc.(a)		34,230		331,193
Lithium Americas Corp.(a)(b)		91,932		3,627,048
Lundin Mining Corp.		631,788		4,960,534
New Pacific Metals Corp.(a)		85,575		263,267
Solaris Resources Inc.(a)		52,812		564,315
Stelco Holdings Inc.		29,829		956,433

Security	Shares		Value
Canada (continued)
Teck Resources Ltd., Class B		450,858	$	11,957,469
Turquoise Hill Resources Ltd.(a)		95,844		1,424,774
Wallbridge Mining Co. Ltd.(a)		620,541		206,450
				46,779,933
Chile — 0.1%
CAP SA		63,570		573,792
China — 3.2%
Aluminum Corp. of China Ltd., Class A(a)		782,365		640,511
Aluminum Corp. of China Ltd., Class H(a)		3,798,000		1,854,153
Anhui Honglu Steel Construction Group Co. Ltd., Class A		35,500		283,694
Baoshan Iron & Steel Co. Ltd., Class A		1,266,793		1,287,668
Chengtun Mining Group Co. Ltd., Class A		146,700		267,293
China Hongqiao Group Ltd.		2,200,500		2,130,126
China Metal Recycling Holdings Ltd.(c)		132,000		—
China Minmetals Rare Earth Co. Ltd., Class A		48,900		342,104
China Molybdenum Co. Ltd., Class A		1,026,900		950,385
China Molybdenum Co. Ltd., Class H		3,264,000		2,002,424
China Northern Rare Earth Group High-Tech Co. Ltd., Class A		195,670		1,647,297
China Oriental Group Co. Ltd.		1,456,000		384,829
China Zhongwang Holdings Ltd.(a)(c)		1,552,000		281,667
Ganfeng Lithium Co. Ltd., Class A		65,300		1,737,454
Ganfeng Lithium Co. Ltd., Class H(d)		249,200		4,816,366
GEM Co. Ltd., Class A		308,517		548,166
Hesteel Co. Ltd., Class A		635,700		231,686
Hunan Valin Steel Co. Ltd., Class A		391,200		306,722
Inner Mongolia BaoTou Steel Union Co. Ltd., Class A(a)		2,591,721		1,171,354
Jiangxi Copper Co. Ltd., Class A		146,700		525,552
Jiangxi Copper Co. Ltd., Class H		1,108,000		1,780,546
Jinchuan Group International Resources Co. Ltd.		2,934,000		441,735
MMG Ltd.(a)		2,990,000		1,082,906
Pangang Group Vanadium Titanium & Resources Co. Ltd., Class A(a)		489,000		289,913
Shandong Nanshan Aluminum Co. Ltd., Class A		684,600		472,465
Shanxi Meijin Energy Co. Ltd., Class A(a)		247,200		524,263
Shanxi Taigang Stainless Steel Co. Ltd., Class A		342,300		382,201
Shenghe Resources Holding Co. Ltd., Class A		97,800		341,046
Shougang Fushan Resources Group Ltd.		1,956,000		507,496
Tiangong International Co. Ltd.		978,000		572,790
Tianshan Aluminum Group Co. Ltd., Class A		244,500		314,146
Tibet Summit Resources Co. Ltd.		48,900		292,716
Tongling Nonferrous Metals Group Co. Ltd., Class A		635,700		342,716
Western Superconducting Technologies Co. Ltd., Class A		25,428		387,820
Xiamen Tungsten Co. Ltd., Class A		97,899		400,980
Yintai Gold Co. Ltd., Class A		151,340		214,802
YongXing Special Materials Technology Co. Ltd., Class A		21,100		479,734
Yunnan Aluminium Co. Ltd., Class A(a)		195,600		328,701
Yunnan Tin Co. Ltd., Class A(a)		97,800		284,652
Zhejiang Huayou Cobalt Co. Ltd., Class A		68,000		1,389,421
				32,240,500
Cyprus — 0.0%
Atalaya Mining PLC		66,015		359,088
Finland — 0.2%
Outokumpu OYJ(a)		349,635		2,038,536
France — 0.3%
APERAM SA		45,477		2,185,096

1

Schedule of Investments (unaudited) (continued)	iShares® MSCI Global Metals & Mining Producers ETF
November 30, 2021	(Percentages shown are based on Net Assets)

Security	Shares		Value
France (continued)
Eramet SA(a)		8,802	$	686,905
				2,872,001
Germany — 0.8%
Aurubis AG		30,318		2,597,699
Salzgitter AG(a)		34,230		1,012,379
thyssenkrupp AG(a)		386,310		4,235,802
				7,845,880
India — 3.5%
APL Apollo Tubes Ltd.(a)		108,069		1,334,564
Hindalco Industries Ltd.		1,511,010		8,290,809
Jindal Stainless Hisar Ltd.(a)		79,707		320,832
Jindal Stainless Ltd.(a)		156,969		344,944
Jindal Steel & Power Ltd.(a)		393,645		1,791,763
JSW Steel Ltd.		807,339		6,511,041
National Aluminium Co. Ltd.		798,537		936,487
Ratnamani Metals & Tubes Ltd.		16,137		472,932
Tata Steel Ltd.		548,658		7,785,034
Tata Steel Ltd., GDR(e)		141,810		1,971,159
Vedanta Ltd.		1,069,932		4,791,750
				34,551,315
Indonesia — 0.3%
Merdeka Copper Gold Tbk PT(a)		10,904,700		2,782,139
Timah Tbk PT(a)		2,493,900		274,604
				3,056,743
Japan — 4.4%
Daido Steel Co. Ltd.		25,300		869,371
Dowa Holdings Co. Ltd.		48,900		1,806,282
Hitachi Metals Ltd.(a)		203,100		3,770,795
JFE Holdings Inc.		489,100		5,574,666
Kobe Steel Ltd.		293,400		1,399,604
Kyoei Steel Ltd.		18,400		202,022
Maruichi Steel Tube Ltd.		51,000		1,087,409
Mitsubishi Materials Corp.		105,200		1,801,994
Mitsui Mining & Smelting Co. Ltd.		51,700		1,322,624
Nippon Light Metal Holdings Co. Ltd.		53,540		786,005
Nippon Steel Corp.		816,305		12,035,339
Sumitomo Metal Mining Co. Ltd.		238,300		8,807,913
Toho Titanium Co. Ltd.		48,900		404,557
Tokyo Steel Manufacturing Co. Ltd.		97,800		1,028,902
UACJ Corp.(a)		28,638		577,447
Yamato Kogyo Co. Ltd.		48,900		1,493,246
Yodogawa Steel Works Ltd.		19,600		392,958
				43,361,134
Malaysia — 0.4%
Press Metal Aluminium Holdings Bhd		3,080,700		3,913,509
Mexico — 1.3%
Grupo Mexico SAB de CV, Series B		2,982,900		12,481,091
Netherlands — 1.8%
AMG Advanced Metallurgical Group NV(b)		29,829		831,202
ArcelorMittal SA		640,590		17,390,639
				18,221,841
Norway — 0.8%
Norsk Hydro ASA		1,284,603		8,319,199
Peru — 0.5%
Southern Copper Corp.		81,174		4,748,679

Security	Shares		Value
Poland — 0.5%
Jastrzebska Spolka Weglowa SA(a)		50,367	$	503,458
KGHM Polska Miedz SA		133,497		4,583,022
				5,086,480
Qatar — 0.1%
Qatar Aluminum Manufacturing Co.		2,625,441		1,296,037
Russia — 3.3%
Alrosa PJSC		2,464,562		4,284,414
MMC Norilsk Nickel PJSC		60,636		17,573,359
Novolipetsk Steel PJSC		1,422,990		4,144,233
Severstal PAO		198,534		4,209,795
United Co. RUSAL International PJSC(a)		2,889,990		2,699,324
				32,911,125
Saudi Arabia — 0.8%
Saudi Arabian Mining Co.(a)		412,716		7,865,762
South Africa — 3.3%
African Rainbow Minerals Ltd.		107,580		1,393,433
Anglo American Platinum Ltd.		50,367		5,342,565
Impala Platinum Holdings Ltd.		778,977		9,756,202
Kumba Iron Ore Ltd.		61,125		1,730,505
Northam Platinum Holdings Ltd.(a)		340,833		4,761,161
Royal Bafokeng Platinum Ltd.		165,282		1,523,442
Sibanye Stillwater Ltd.		2,643,045		8,241,762
				32,749,070
South Korea — 2.3%
Dongkuk Steel Mill Co. Ltd.		59,169		704,025
Hyundai Steel Co.		82,641		2,572,237
KG Dongbu Steel Co. Ltd.		16,626		134,223
Korea Zinc Co. Ltd.		8,313		3,462,379
Namsun Aluminum Co. Ltd.(a)		11,175		21,915
Poongsan Corp.		17,115		411,684
POSCO		70,416		15,460,205
Seah Besteel Corp.		13,692		210,364
SeAH Steel Holdings Corp.		1		83
Young Poong Corp.		489		260,627
				23,237,742
Spain — 0.2%
Acerinox SA		155,502		1,737,681
Sweden — 1.4%
Boliden AB		260,637		8,984,950
Granges AB		101,712		1,060,817
SSAB AB, Class A(a)		244,500		1,203,586
SSAB AB, Class B(a)		555,993		2,415,851
				13,665,204
Switzerland — 0.0%
Swiss Steel Holding AG, Registered(a)		687,401		263,564
Taiwan — 2.2%
Century Iron & Steel Industrial Co. Ltd.		115,000		461,747
China Metal Products		208,011		239,659
China Steel Corp.		11,123,612		12,977,625
Chun Yuan Steel Industry Co. Ltd.		475,000		377,712
Chung Hung Steel Corp.		966,000		1,208,156
Feng Hsin Steel Co. Ltd.		489,000		1,365,401
Hsin Kuang Steel Co. Ltd.		200,000		410,114
TA Chen Stainless Pipe		1,266,005		2,084,789
Tung Ho Steel Enterprise Corp.		710,000		1,081,512
YC INOX Co. Ltd.		370,263		416,535

2

Schedule of Investments (unaudited) (continued)	iShares® MSCI Global Metals & Mining Producers ETF
November 30, 2021	(Percentages shown are based on Net Assets)

Security	Shares		Value
Taiwan (continued)
Yieh Phui Enterprise Co. Ltd.(a)		978,644	$	837,671
				21,460,921
Turkey — 0.3%
Eregli Demir ve Celik Fabrikalari TAS		1,333,992		2,196,642
Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class D(a)		700,248		437,391
Koza Anadolu Metal Madencilik Isletmeleri AS(a)		190,710		276,495
				2,910,528
United Kingdom — 6.0%
Anglo American PLC		1,233,747		45,414,034
Antofagasta PLC		377,019		6,892,961
Central Asia Metals PLC		163,574		528,635
Eurasia Mining PLC(a)		1,787,295		537,205
Evraz PLC		488,511		3,724,076
Ferrexpo PLC		281,664		1,082,630
Hill & Smith Holdings PLC		77,751		1,745,475
				59,925,016
United States — 15.0%
Alcoa Corp.		178,485		8,304,907
Allegheny Technologies Inc.(a)(b)		121,272		1,726,913
Alpha Metallurgical Resources Inc.(a)		15,159		706,258
Arconic Corp.(a)		99,267		2,652,414
Carpenter Technology Corp.		45,966		1,263,146
Century Aluminum Co.(a)(b)		51,834		685,764
Cleveland-Cliffs Inc.(a)		453,303		9,224,716
Commercial Metals Co.		115,404		3,565,983
Compass Minerals International Inc.		32,763		1,593,920
Coronado Global Resources Inc.(a)(d)		724,209		566,059
Freeport-McMoRan Inc.		1,401,474		51,966,656
Kaiser Aluminum Corp.		15,159		1,352,637
Materion Corp.		19,560		1,655,950
MP Materials Corp.(a)(b)		59,169		2,599,886
Nucor Corp.		280,197		29,773,733
Piedmont Lithium Inc.(a)(b)		15,159		909,540
Reliance Steel & Aluminum Co.		60,636		9,012,329
Ryerson Holding Corp.		16,137		378,090
Schnitzer Steel Industries Inc., Class A		24,939		1,199,566
Steel Dynamics Inc.		195,111		11,667,638
SunCoke Energy Inc.		80,196		488,394
United States Steel Corp.		257,703		5,826,665
Warrior Met Coal Inc.		48,900		1,050,861
Worthington Industries Inc.		32,274		1,548,506
				149,720,531
Total Common Stocks — 99.0%
(Cost: $1,017,206,167)		.		985,495,251

Security	Shares		Value
Preferred Stocks
Brazil — 0.9%
Bradespar SA, Preference Shares, NVS		243,521	$	2,155,015
Cia. Ferro Ligas da Bahia-Ferbasa, Preference  Shares, NVS		37,653		291,078
Gerdau SA, Preference Shares, NVS		1,094,382		5,022,378
Metalurgica Gerdau SA, Preference Shares, NVS		695,358		1,317,282
				8,785,753
Russia — 0.0%
Mechel PJSC, Preference Shares, NVS		68,460		240,331
Total Preferred Stocks — 0.9%
(Cost: $7,318,219)				9,026,084
Short-Term Investments
Money Market Funds — 0.4%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.06%(f)(g)(h)		3,323,738		3,325,068
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(f)(g)		300,000		300,000
				3,625,068
Total Short-Term Investments — 0.4%
(Cost: $3,624,677)				3,625,068
Total Investments in Securities — 100.3%
(Cost: $1,028,149,063)				998,146,403
Other Assets, Less Liabilities — (0.3)%				(2,547,966	)
Net Assets — 100.0%			$	995,598,437

^(a) Non-income producing security.

^(b) All or a portion of this security is on loan.

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

^(d) 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.

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

^(f) Affiliate of the Fund.

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

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

3

Schedule of Investments (unaudited) (continued)	iShares® MSCI Global Metals & Mining Producers ETF
November 30, 2021

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended November 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at 08/31/21		Purchases at Cost			Proceeds from Sales			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Value at 11/30/21		Shares Held at 11/30/21		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL Agency Shares	$	6,852,782	$	—		$	(3,526,924	)(a)	$	(626	)	$	(164	)	$	3,325,068		3,323,738	$	11,658	(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		—		300,000	(a)		—			—			—			300,000		300,000		18			—
									$	(626	)	$	(164	)	$	3,625,068			$	11,676		$	—

^(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.

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount (000)		Value/ Unrealized Appreciation (Depreciation)
Long Contracts
E-Mini Energy Select Sector Index		8	12/17/21	$	453	$	(4,416	)
MSCI Emerging Markets Index		12	12/17/21		727		(8,791	)
						$	(13,207	)

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 BlackRock Global Valuation Methodologies Committee’s (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.

4

Schedule of Investments (unaudited) (continued)	iShares® MSCI Global Metals & Mining Producers ETF
November 30, 2021

Fair Value Measurements (continued)

The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.

	Level 1			Level 2		Level 3		Total
Investments
Assets
Common Stocks	$	303,665,672		$	681,547,912	$	281,667	$	985,495,251
Preferred Stocks		9,026,084			—		—		9,026,084
Money Market Funds		3,625,068			—		—		3,625,068
	$	316,316,824		$	681,547,912	$	281,667	$	998,146,403
Derivative financial instruments(a)
Liabilities
Futures Contracts	$	(13,207	)	$	—	$	—	$	(13,207	)

^(a) Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

Portfolio Abbreviations - Equity

GDR	Global Depositary Receipt
NVS	Non-Voting Shares
PJSC	Public Joint Stock Company

5