NPORT-EX 2 NPORT_2QWD_48279180_0122.htm

 

Schedule of Investments (unaudited) iShares® International High Yield Bond ETF
January 31, 2022 (Percentages shown are based on Net Assets)

 

Security      Par
(000)		  Value
        
Corporate Bonds & Notes              
               
Australia — 0.6%              
Commerzbank Ag Subordinated, 1.38%, 12/29/31 (Call 09/29/26)(a)(b)   EUR   100   $107,935 
Energias De Portugal SA, 1.88%, 03/14/82 (Call 06/14/29)(a)(b)   EUR   100    103,745 
Eurobank SA, 2.25%, 03/14/28 (Call 03/14/27)(a)(b)   EUR   100    105,761 
Kaixo Bondco Telecom SA, 5.13%, 09/30/29 (Call 09/30/24)(a)   EUR   100    109,301 
             426,742 
Austria — 0.2%              
ams-OSRAM AG, 6.00%, 07/31/25 (Call 07/31/22)(a)   EUR   100    117,609 
               
Belgium — 0.2%              
Telenet Finance Luxembourg Notes Sarl, 3.50%, 03/01/28 (Call 12/01/22)(a)   EUR   100    113,587 
               
Canada — 2.3%              
ADLER Group SA, 2.25%, 01/14/29 (Call 10/14/28)(a)   EUR   200    176,640 
Air Canada, 4.63%, 08/15/29 (Call 02/15/26)(c)   CAD   325    252,371 
AutoCanada Inc., 5.75%, 02/07/29 (Call 01/01/25)   CAD   50    39,400 
Brookfield Property Finance ULC              
3.93%, 08/24/25 (Call 07/24/25)   CAD   100    78,344 
4.00%, 09/30/26 (Call 08/30/26)   CAD   75    58,044 
Iccrea Banca SpA, 2.25%, 10/20/25 (Call 10/20/24)(a)(b)   EUR   100    112,434 
Mattamy Group Corp., 4.63%, 03/01/28 (Call 03/01/23)(a)   CAD   50    39,112 
Parkland Corp./Canada              
3.88%, 06/16/26 (Call 06/16/23)(c)   CAD   100    76,683 
4.38%, 03/26/29 (Call 03/26/24)   CAD   100    76,132 
Ritchie Bros Holdings Ltd., 4.95%, 12/15/29 (Call 12/15/24)(c)   CAD   75    59,302 
Southern Pacific Resource Corp., 8.75%, 01/25/18(c)(d)(e)(f)   CAD   50    — 
Videotron Ltd.              
3.13%, 01/15/31 (Call 01/15/26)   CAD   50    35,371 
3.63%, 06/15/28 (Call 06/15/24)(c)   CAD   150    113,578 
4.50%, 01/15/30 (Call 10/15/24)   CAD   150    118,114 
5.63%, 06/15/25 (Call 03/15/25)   CAD   50    41,522 
5.75%, 01/15/26 (Call 02/15/22)(a)   CAD   50    40,055 
VZ Vendor Financing II BV, 2.88%, 01/15/29 (Call 12/18/23)(a)   EUR   200    209,702 
             1,526,804 
Cayman Islands — 0.2%              
UPCB Finance VII Ltd., 3.63%, 06/15/29 (Call 06/15/22)(a)   EUR   100    111,418 
               
Cyprus — 0.2%              
Bank of Cyprus PCL, 2.50%, 06/24/27 (Call 06/24/26)(a)(b)   EUR   100    106,745 
               
Denmark — 0.2%              
DKT Finance ApS, 7.00%, 06/17/23 (Call 03/02/22)(a)   EUR   100    113,033 
               
Finland — 1.5%              
Nokia OYJ              
2.00%, 03/15/24 (Call 12/15/23)(a)   EUR   100    115,388 
2.00%, 03/11/26 (Call 12/11/25)(a)   EUR   150    172,672 
2.38%, 05/15/25 (Call 02/15/25)(a)   EUR   200    233,583 
Teollisuuden Voima Oyj, 1.38%, 06/23/28
(Call 03/23/28)(a)		   EUR   200    217,319 
Teollisuuden Voima OYJ, 1.13%, 03/09/26
(Call 12/09/25)(a)		   EUR   200    223,469 
             962,431 
France — 12.8%              
Accor SA, 3.00%, 02/04/26 (Call 11/04/25)(a)   EUR   200    233,328 
Altice France SA/France              
2.13%, 02/15/25 (Call 03/02/22)(a)   EUR   150    160,526 
3.38%, 01/15/28 (Call 09/15/22)(a)   EUR   200    209,853 
4.00%, 07/15/29 (Call 04/15/24)(a)   EUR   100    105,759 

 

Security      Par
(000)		  Value
           
France (continued)              
4.25%, 10/15/29 (Call 10/15/24)(a)   EUR   100   $106,606 
5.88%, 02/01/27 (Call 03/02/22)(a)   EUR   150    173,788 
Banijay Entertainment SASU, 3.50%, 03/01/25 (Call 03/02/22)(a)   EUR   200    220,797 
CAB SELAS, 3.38%, 02/01/28 (Call 02/01/24)(a)   EUR   200    218,278 
Casino Guichard Perrachon SA              
3.58%, 02/07/25 (Call 11/07/24)(a)   EUR   300    306,990 
5.25%, 04/15/27 (Call 04/15/23)(a)   EUR   100    100,823 
CGG SA, 7.75%, 04/01/27 (Call 04/01/24)(a)   EUR   100    113,135 
Chrome Bidco SASU, 3.50%, 05/31/28 (Call 05/31/24)(a)   EUR   100    109,851 
Chrome Holdco SASU, 5.00%, 05/31/29 (Call 05/31/24)(a)   EUR   100    109,009 
Elis SA              
1.00%, 04/03/25 (Call 01/03/25)(a)   EUR   100    110,453 
1.63%, 04/03/28 (Call 01/03/28)(a)   EUR   200    216,799 
1.75%, 04/11/24 (Call 01/11/24)(a)   EUR   100    113,876 
Faurecia SE              
2.38%, 06/15/27 (Call 06/15/23)(a)   EUR   100    109,905 
2.63%, 06/15/25 (Call 03/02/22)(a)   EUR   250    283,590 
2.75%, 02/15/27 (Call 02/15/24)(a)   EUR   125    139,738 
3.13%, 06/15/26 (Call 06/15/22)(a)   EUR   100    113,439 
3.75%, 06/15/28 (Call 06/15/23)(a)   EUR   200    229,552 
Iliad Holding SASU              
5.13%, 10/15/26 (Call 10/15/23)(a)   EUR   150    171,619 
5.63%, 10/15/28 (Call 10/15/24)(a)   EUR   100    114,183 
La Banque Postale SA, 3.00%, 06/09/28(a)   EUR   100    121,931 
La Financiere Atalian SASU, 4.00%, 05/15/24 (Call 02/10/22)(a)   EUR   200    213,642 
Loxam SAS              
2.88%, 04/15/26 (Call 04/15/22)(a)   EUR   100    107,840 
3.25%, 01/14/25 (Call 02/10/22)(a)   EUR   100    109,461 
3.50%, 05/03/23 (Call 02/10/22)(a)   EUR   200    224,316 
Orano SA              
2.75%, 03/08/28 (Call 12/08/27)(a)   EUR   100    113,208 
3.13%, 03/20/23 (Call 12/20/22)(a)   EUR   100    114,817 
3.38%, 04/23/26 (Call 01/23/26)(a)   EUR   100    117,485 
4.88%, 09/23/24   EUR   100    122,439 
Paprec Holding SA              
3.50%, 07/01/28 (Call 07/01/24)(a)   EUR   100    109,622 
4.00%, 03/31/25 (Call 03/02/22)(a)   EUR   100    112,802 
Parts Europe SA, 6.50%, 07/16/25 (Call 03/02/22)(a)   EUR   100    115,820 
Picard Bondco SA, 5.38%, 07/01/27 (Call 07/01/24)(a)   EUR   100    110,452 
Picard Groupe SAS, 3.88%, 07/01/26 (Call 07/01/23)(a)   EUR   100    110,729 
Quatrim SASU, 5.88%, 01/15/24 (Call 02/10/22)(a)   EUR   100    114,347 
RCI Banque SA, 2.63%, 02/18/30 (Call 02/18/25)(a)(b)   EUR   200    224,884 
Renault SA              
1.00%, 03/08/23 (Call 12/08/22)(a)   EUR   100    112,780 
1.00%, 04/18/24 (Call 01/18/24)(a)   EUR   100    111,908 
1.00%, 11/28/25 (Call 08/28/25)(a)   EUR   100    110,378 
1.13%, 10/04/27 (Call 07/04/27)(a)   EUR   100    103,029 
1.25%, 06/24/25 (Call 03/24/25)(a)   EUR   100    110,031 
2.00%, 09/28/26 (Call 06/28/26)(a)   EUR   100    109,967 
2.38%, 05/25/26 (Call 02/25/26)(a)   EUR   200    224,237 
2.50%, 06/02/27 (Call 03/02/27)(a)   EUR   100    111,150 
2.50%, 04/01/28 (Call 01/01/28)(a)   EUR   100    109,778 
Rexel SA              
2.13%, 06/15/28 (Call 06/15/24)(a)   EUR   100    110,737 
2.13%, 12/15/28(a)   EUR   100    109,952 
SPCM SA, 2.63%, 02/01/29 (Call 09/15/23)(a)   EUR   100    112,035 
SPIE SA              
2.63%, 06/18/26 (Call 12/18/25)(a)   EUR   100    114,961 

 

1

 

 

Schedule of Investments (unaudited) (continued) iShares® International High Yield Bond ETF
January 31, 2022 (Percentages shown are based on Net Assets)

 

Security      Par
(000)		  Value
        
France (continued)              
3.13%, 03/22/24 (Call 09/22/23)(a)   EUR   100   $115,433 
Tereos Finance Groupe, 4.75%, 04/30/27(a)   EUR   100    111,144 
Tereos Finance Groupe I SA, 7.50%, 10/30/25 (Call 10/30/22)(a)   EUR   100    119,205 
Valeo              
1.50%, 06/18/25 (Call 03/18/25)(a)   EUR   200    230,204 
3.25%, 01/22/24(a)   EUR   100    118,993 
Valeo SA, 1.00%, 08/03/28 (Call 05/03/28)(a)   EUR   100    106,948 
Verallia SA              
1.63%, 05/14/28 (Call 02/14/28)(a)   EUR   100    111,108 
1.88%, 11/10/31 (Call 08/10/31)(a)   EUR   100    108,743 
             8,488,413 
Germany — 11.1%              
ADLER Group SA              
1.50%, 07/26/24 (Call 04/26/24)(a)   EUR   100    96,595 
1.88%, 01/14/26 (Call 10/14/25)(a)   EUR   100    90,491 
3.25%, 08/05/25 (Call 05/05/25)(a)   EUR   100    96,534 
ADLER Real Estate AG, 1.88%, 04/27/23 (Call 03/27/23)(a)   EUR   100    106,058 
Bayer AG              
2.38%, 11/12/79 (Call 02/12/25)(a)(b)   EUR   200    221,594 
3.13%, 11/12/79 (Call 08/12/27)(a)(b)   EUR   100    111,482 
3.75%, 07/01/74 (Call 07/01/24)(a)(b)   EUR   200    231,842 
Bertelsmann SE & Co. KGaA              
3.00%, 04/23/75 (Call 04/23/23)(a)(b)   EUR   100    114,419 
3.50%, 04/23/75 (Call 04/23/27)(a)(b)   EUR   100    116,861 
Cheplapharm Arzneimittel GmbH, 4.38%, 01/15/28 (Call 01/15/24)(a)   EUR   150    171,958 
Commerzbank AG              
4.00%, 03/23/26(a)   EUR   200    243,797 
4.00%, 03/30/27(a)   EUR   100    123,514 
4.00%, 12/05/30 (Call 09/05/25)(a)(b)   EUR   100    120,269 
Deutsche Bank AG              
2.75%, 02/17/25(a)   EUR   125    146,734 
4.50%, 05/19/26(a)   EUR   100    125,848 
5.63%, 05/19/31 (Call 02/19/26)(a)(b)   EUR   200    257,846 
Deutsche Lufthansa AG              
0.25%, 09/06/24   EUR   50    54,570 
2.88%, 02/11/25 (Call 01/11/25)(a)   EUR   200    227,165 
2.88%, 05/16/27 (Call 02/16/27)(a)   EUR   200    221,723 
3.00%, 05/29/26 (Call 03/02/26)(a)   EUR   300    338,087 
3.50%, 07/14/29 (Call 04/14/29)(a)   EUR   100    112,656 
Douglas GmbH, 6.00%, 04/08/26 (Call 04/15/23)(a)   EUR   200    220,420 
Evonik Industries AG, 1.38%, 09/02/81 (Call 09/02/26)(a)(b)   EUR   100    110,141 
Gruenenthal GMBH, 4.13%, 05/15/28 (Call 05/15/24)(a)   EUR   150    167,760 
K+S AG, 2.63%, 04/06/23 (Call 01/06/23)(a)   EUR   100    114,061 
LANXESS AG, 4.50%, 12/06/76 (Call 06/06/23)(a)(b)   EUR   75    87,938 
Mahle GmbH, 2.38%, 05/14/28 (Call 02/14/28)(a)   EUR   200    211,154 
Nidda BondCo GmbH, 5.00%, 09/30/25 (Call 03/02/22)(a)   EUR   100    109,209 
Nidda Healthcare Holding GmbH, 3.50%, 09/30/24 (Call 02/10/22)(a)   EUR   200    219,930 
Schaeffler AG              
1.88%, 03/26/24 (Call 12/26/23)(a)   EUR   100    114,378 
2.75%, 10/12/25 (Call 07/12/25)(a)   EUR   200    235,916 
3.38%, 10/12/28 (Call 07/12/28)(a)   EUR   100    121,893 
Techem Verwaltungsgesellschaft 674 mbH, 6.00%, 07/30/26 (Call 02/07/22)(a)   EUR   88    100,756 
Techem Verwaltungsgesellschaft 675 mbH, 2.00%, 07/15/25 (Call 02/28/22)(a)   EUR   150    163,315 
thyssenkrupp AG              
1.88%, 03/06/23 (Call 02/06/23)(a)   EUR   150    169,451 

 

Security      Par
(000)		  Value
           
Germany (continued)              
2.88%, 02/22/24 (Call 11/22/23)(a)   EUR   300   $342,232 
TK Elevator Midco GmbH, 4.38%, 07/15/27 (Call 07/15/23)(a)   EUR   100    113,353 
Vertical Holdco GmbH, 6.63%, 07/15/28 (Call 07/15/23)(a)   EUR   180    207,843 
ZF Europe Finance BV              
2.00%, 02/23/26 (Call 12/23/25)(a)   EUR   200    222,089 
2.50%, 10/23/27 (Call 07/23/27)(a)   EUR   100    110,435 
3.00%, 10/23/29 (Call 07/23/29)(a)   EUR   100    111,467 
ZF Finance GmbH              
2.00%, 05/06/27 (Call 02/06/27)(a)   EUR   100    109,445 
2.25%, 05/03/28 (Call 02/03/28)(a)   EUR   100    108,558 
2.75%, 05/25/27 (Call 02/25/27)(a)   EUR   100    112,296 
3.00%, 09/21/25 (Call 06/21/25)(a)   EUR   100    115,344 
3.75%, 09/21/28 (Call 06/21/28)(a)   EUR   100    116,887 
ZF North America Capital Inc., 2.75%, 04/27/23(a)   EUR   200    230,001 
             7,376,315 
Greece — 1.5%              
Alpha Bank SA, 2.50%, 03/23/28 (Call 03/23/27)(a)(b)   EUR   100    106,443 
Eurobank SA, 2.00%, 05/05/27 (Call 05/05/26)(a)(b)   EUR   100    106,655 
Mytilineos SA, 2.25%, 10/30/26(a)   EUR   100    110,746 
National Bank of Greece SA, 2.75%, 10/08/26 (Call 10/08/25)(a)(b)   EUR   200    222,641 
Piraeus Bank SA, 3.88%, 11/03/27 (Call 11/03/26)(a)(b)   EUR   100    108,880 
Piraeus Financial Holdings SA, 9.75%, 06/26/29 (Call 06/26/24)(a)(b)   EUR   100    120,774 
Public Power Corp. SA              
3.38%, 07/31/28 (Call 07/31/24)(a)   EUR   100    109,027 
3.88%, 03/30/26 (Call 03/30/23)(a)   EUR   100    112,435 
             997,601 
Ireland — 0.8%              
AIB Group PLC              
1.88%, 11/19/29 (Call 11/19/24)(a)(b)   EUR   100    113,254 
2.88%, 05/30/31 (Call 05/30/26)(a)(b)   EUR   100    116,627 
Bank of Ireland Group PLC, 1.38%, 08/11/31 (Call 05/11/26)(a)(b)   EUR   100    109,581 
eircom Finance DAC              
1.75%, 11/01/24 (Call 03/02/22)(a)   EUR   100    110,283 
3.50%, 05/15/26 (Call 05/15/22)(a)   EUR   100    111,156 
             560,901 
Israel — 1.9%              
Teva Pharmaceutical Finance Netherlands II BV              
1.13%, 10/15/24(a)   EUR   200    214,828 
1.25%, 03/31/23 (Call 12/31/22)(a)   EUR   100    111,275 
1.63%, 10/15/28(a)   EUR   150    140,991 
3.75%, 05/09/27 (Call 02/09/27)   EUR   300    326,120 
4.38%, 05/09/30 (Call 02/09/30)   EUR   200    214,573 
4.50%, 03/01/25 (Call 12/01/24)   EUR   100    113,737 
6.00%, 01/31/25 (Call 10/31/24)   EUR   100    118,354 
             1,239,878 
Italy — 15.6%              
Alpha Services and Holdings SA, 4.25%, 02/13/30 (Call 02/13/25)(a)(b)   EUR   100    108,726 
Atlantia SpA              
1.63%, 02/03/25(a)   EUR   100    112,701 
1.88%, 07/13/27 (Call 04/13/27)(a)   EUR   275    309,858 
1.88%, 02/12/28 (Call 11/12/27)(a)   EUR   100    111,356 
Autostrade per l’Italia SpA              
1.63%, 01/25/28 (Call 10/25/27)(a)   EUR   100    111,757 
1.75%, 06/26/26(a)   EUR   100    113,921 
1.75%, 02/01/27(a)   EUR   100    113,250 

 

2

 

 

Schedule of Investments (unaudited) (continued) iShares® International High Yield Bond ETF
January 31, 2022 (Percentages shown are based on Net Assets)

 

Security      Par
(000)		  Value
        
Italy (continued)              
1.88%, 09/26/29 (Call 06/26/29)(a)   EUR   200   $223,758 
2.00%, 01/15/30 (Call 10/15/29)(a)   EUR   400    448,783 
4.38%, 09/16/25(a)   EUR   100    124,838 
Banca IFIS SpA, 2.00%, 04/24/23(a)   EUR   100    113,192 
Banca Monte dei Paschi di Siena SpA              
2.63%, 04/28/25(a)   EUR   100    110,373 
3.63%, 09/24/24(a)   EUR   300    336,527 
5.38%, 01/18/28 (Call 01/18/23)(a)(b)   EUR   100    84,891 
10.50%, 07/23/29(a)   EUR   100    98,599 
Banca Popolare di Sondrio SCPA              
2.38%, 04/03/24(a)   EUR   100    115,198 
3.88%, 02/25/32 (Call 11/25/26)(a)(b)   EUR   100    112,562 
Banco BPM SpA              
0.88%, 07/15/26(a)   EUR   100    108,268 
1.75%, 04/24/23(a)   EUR   109    124,314 
1.75%, 01/28/25(a)   EUR   200    227,455 
3.25%, 01/14/31 (Call 01/14/26)(a)(b)   EUR   100    111,881 
4.25%, 10/01/29 (Call 10/01/24)(a)(b)   EUR   200    231,926 
BPER Banca              
1.38%, 03/31/27 (Call 03/31/26)(a)(b)   EUR   100    108,690 
1.88%, 07/07/25(a)   EUR   100    113,604 
3.88%, 07/25/32(a)   EUR   200    225,822 
Brunello Bidco SpA, 3.50%, 02/15/28 (Call 02/15/24)(a)   EUR   100    108,145 
Deutsche Lufthansa AG, 2.00%, 07/14/24 (Call 06/14/24)(a)   EUR   100    112,589 
Esselunga SpA, 0.88%, 10/25/23 (Call 07/25/23)(a)   EUR   100    113,160 
Gamma Bidco SpA, 5.13%, 07/15/25 (Call 07/15/22)(a)   EUR   200    224,854 
Grifols SA, 2.25%, 11/15/27 (Call 11/15/22)(a)   EUR   100    109,189 
Iccrea Banca SpA              
2.13%, 01/17/27 (Call 01/17/26)(a)(b)   EUR   100    111,375 
4.13%, 11/28/29 (Call 11/28/24)(a)(b)   EUR   100    112,531 
IMA Industria Macchine Automatiche SpA, 3.75%, 01/15/28 (Call 01/15/23)(a)   EUR   100    107,834 
Infrastrutture Wireless Italiane SpA              
1.63%, 10/21/28 (Call 07/21/28)(a)   EUR   100    112,008 
1.75%, 04/19/31 (Call 01/19/31)(a)   EUR   100    109,495 
1.88%, 07/08/26 (Call 04/08/26)(a)   EUR   150    172,619 
Intesa Sanpaolo SpA              
2.93%, 10/14/30(a)   EUR   100    113,740 
3.93%, 09/15/26(a)   EUR   175    213,813 
5.88%, 03/04/29 (Call 03/04/24)(a)(b)   EUR   150    183,776 
6.63%, 09/13/23(a)   EUR   100    123,021 
Leonardo SpA, 2.38%, 01/08/26 (Call 10/08/25)(a)   EUR   100    115,403 
Mediobanca Banca di Credito Finanziario SpA              
3.75%, 06/16/26   EUR   75    90,971 
5.75%, 04/18/23   EUR   50    59,592 
Nexi SpA              
1.63%, 04/30/26 (Call 01/30/26)(a)   EUR   200    216,518 
1.75%, 10/31/24 (Call 07/31/24)(a)   EUR   100    112,686 
2.13%, 04/30/29 (Call 01/30/29)(a)   EUR   150    160,634 
Rossini Sarl, 6.75%, 10/30/25 (Call 03/02/22)(a)   EUR   100    115,790 
Saipem Finance International BV              
2.63%, 01/07/25(a)   EUR   100    106,938 
3.75%, 09/08/23(a)   EUR   200    221,298 
Telecom Italia SpA/Milano              
1.63%, 01/18/29 (Call 10/18/28)(a)   EUR   100    102,728 
2.38%, 10/12/27 (Call 07/12/27)(a)   EUR   300    327,080 
2.50%, 07/19/23(a)   EUR   100    114,530 
2.88%, 01/28/26 (Call 10/28/25)(a)   EUR   418    475,706 
3.63%, 01/19/24(a)   EUR   200    232,380 
3.63%, 05/25/26(a)   EUR   100    116,428 

 

Security      Par
(000)		  Value
           
Italy (continued)              
4.00%, 04/11/24 (Call 01/11/24)(a)   EUR   125   $146,204 
5.25%, 02/10/22(a)   EUR   100    112,428 
UniCredit SpA              
2.00%, 09/23/29 (Call 09/23/24)(a)(b)   EUR   200    224,315 
2.73%, 01/15/32 (Call 01/15/27)(a)(b)   EUR   200    223,852 
6.95%, 10/31/22(a)   EUR   100    117,818 
Unione di Banche Italiane SpA, 4.38%, 07/12/29 (Call 07/12/24)(a)(b)   EUR   150    179,983 
Unipol Gruppo SpA              
3.00%, 03/18/25(a)   EUR   175    209,487 
3.25%, 09/23/30 (Call 06/23/30)(a)   EUR   200    247,760 
Webuild SpA, 1.75%, 10/26/24(a)   EUR   250    278,702 
             10,339,630 
Japan — 1.9%              
SoftBank Group Corp.              
2.13%, 07/06/24 (Call 04/06/24)(a)   EUR   175    190,797 
2.88%, 01/06/27 (Call 10/06/26)(a)   EUR   100    103,028 
3.13%, 09/19/25 (Call 06/21/25)(a)   EUR   250    274,007 
3.38%, 07/06/29 (Call 04/06/29)(a)   EUR   125    122,148 
3.88%, 07/06/32 (Call 04/06/32)(a)   EUR   100    97,350 
4.00%, 04/20/23 (Call 01/20/23)(a)   EUR   100    113,491 
4.00%, 09/19/29 (Call 06/21/29)(a)   EUR   100    101,617 
5.00%, 04/15/28 (Call 01/16/28)(a)   EUR   250    275,830 
             1,278,268 
Luxembourg — 4.2%              
ADLER Group SA, 2.25%, 04/27/27 (Call 01/27/27)(a)   EUR   100    89,985 
Albion Financing 1 SARL/Aggreko Holdings Inc., 5.25%, 10/15/26 (Call 10/15/23)(a)   EUR   100    110,128 
Altice Financing SA              
2.25%, 01/15/25 (Call 03/02/22)(a)   EUR   100    106,357 
3.00%, 01/15/28 (Call 01/15/23)(a)   EUR   200    204,729 
4.25%, 08/15/29 (Call 08/15/24)(a)   EUR   100    105,534 
Altice Finco SA, 4.75%, 01/15/28 (Call 10/15/22)(a)   EUR   100    102,134 
Altice France Holding SA              
4.00%, 02/15/28 (Call 02/15/23)(a)   EUR   100    102,244 
8.00%, 05/15/27 (Call 05/15/22)(a)   EUR   200    234,255 
Garfunkelux Holdco 3 SA              
6.75%, 11/01/25 (Call 11/01/22)(a)   EUR   100    114,820 
7.75%, 11/01/25 (Call 11/01/22)(a)   GBP   100    137,533 
INEOS Finance PLC              
2.13%, 11/15/25 (Call 02/10/22)(a)   EUR   100    110,159 
2.88%, 05/01/26 (Call 05/01/22)(a)   EUR   300    330,645 
Matterhorn Telecom SA, 3.13%, 09/15/26 (Call 09/15/22)(a)   EUR   200    218,782 
Mytilineos Financial Partners SA, 2.50%, 12/01/24 (Call 06/01/24)(a)   EUR   100    113,532 
PLT VII Finance Sarl, 4.63%, 01/05/26 (Call 07/15/22)(a)   EUR   100    111,139 
SIG Combibloc Purchase Co. Sarl, 2.13%, 06/18/25 (Call 03/18/25)(a)   EUR   100    116,431 
Summer BC Holdco A Sarl, 9.25%, 10/31/27 (Call 10/31/22)(a)   EUR   90    107,117 
Summer BC Holdco B Sarl, 5.75%, 10/31/26 (Call 10/31/22)(a)   EUR   150    172,597 
Vivion Investments Sarl              
3.00%, 08/08/24(a)   EUR   100    106,698 
3.50%, 11/01/25(a)   EUR   100    107,023 
             2,801,842 
Netherlands — 3.2%              
AutoCanada Inc, 6.25%, 10/26/20(e)   EUR   50    — 
Energizer Gamma Acquisition BV, 3.50%, 06/30/29 (Call 06/30/24)(a)   EUR   100    104,860 
Lincoln Financing Sarl, 3.63%, 04/01/24 (Call 03/02/22)(a)   EUR   200    225,768 

 

3

 

 

Schedule of Investments (unaudited) (continued) iShares® International High Yield Bond ETF
January 31, 2022 (Percentages shown are based on Net Assets)

 

Security      Par
(000)		  Value
           
Netherlands (continued)              
PPF Telecom Group BV              
2.13%, 01/31/25 (Call 10/31/24)(a)   EUR   200   $226,438 
3.25%, 09/29/27 (Call 06/29/27)(a)   EUR   100    118,414 
3.50%, 05/20/24 (Call 02/20/24)(a)   EUR   100    117,627 
Q-Park Holding I BV, 2.00%, 03/01/27 (Call 03/01/23)(a)   EUR   100    103,192 
Sigma Holdco BV, 5.75%, 05/15/26 (Call 02/10/22)(a)   EUR   100    101,075 
Trivium Packaging Finance BV, 3.75%, 08/15/26 (Call 08/15/22)(a)   EUR   100    111,415 
United Group BV              
3.13%, 02/15/26 (Call 03/02/22)(a)   EUR   100    106,641 
3.63%, 02/15/28 (Call 02/15/23)(a)   EUR   100    104,609 
4.63%, 08/15/28 (Call 08/15/24)(a)   EUR   100    108,578 
4.88%, 07/01/24 (Call 03/02/22)(a)   EUR   100    112,985 
5.25%, 02/01/30(a)   EUR   100    109,023 
UPC Holding BV, 3.88%, 06/15/29 (Call 06/15/22)(a)   EUR   100    111,574 
VZ Secured Financing BV, 3.50%, 01/15/32(a)   EUR   100    106,009 
WP/AP Telecom Holdings IV BV, 3.75%, 01/15/29 (Call 01/15/25)(a)   EUR   100    109,135 
Ziggo Bond Co. BV, 3.38%, 02/28/30 (Call 02/15/25)(a)   EUR   150    155,643 
             2,132,986 
Norway — 0.3%              
Adevinta ASA, 2.63%, 11/15/25 (Call 11/15/22)(a)   EUR   200    224,407 
               
Portugal — 1.9%              
Banco Comercial Portugues SA              
1.13%, 02/12/27 (Call 02/12/26)(a)(b)   EUR   100    104,644 
1.75%, 04/07/28 (Call 04/07/27)(a)(b)   EUR   100    104,574 
4.00%, 05/17/32 (Call 11/17/26)(a)(b)   EUR   100    109,296 
Caixa Geral de Depositos SA, 5.75%, 06/28/28 (Call 06/28/23)(a)(b)   EUR   200    239,219 
EDP - Energias de Portugal SA              
1.50%, 03/14/82 (Call 12/14/26)(a)(b)   EUR   100    106,164 
1.70%, 07/20/80 (Call 04/20/25)(a)(b)   EUR   100    109,946 
1.88%, 08/02/81 (Call 05/02/26)(a)(b)   EUR   100    109,204 
4.50%, 04/30/79 (Call 01/30/24)(a)(b)   EUR   200    237,501 
Novo Banco SA, 8.50%, 07/06/28 (Call 07/06/23)(a)(b)   EUR   100    114,148 
             1,234,696 
Spain — 7.1%              
Abanca Corp. Bancaria SA, 4.63%, 04/07/30 (Call 04/07/25)(a)(b)   EUR   100    117,958 
Banco de Credito Social Cooperativo SA, 1.75%, 03/09/28 (Call 03/09/27)(a)(b)   EUR   100    105,522 
Banco de Sabadell SA              
0.88%, 06/16/28 (Call 06/16/27)(a)(b)   EUR   100    106,666 
1.13%, 03/27/25(a)   EUR   100    112,287 
1.75%, 05/10/24(a)   EUR   100    114,649 
2.50%, 04/15/31 (Call 01/15/26)(a)(b)   EUR   100    110,010 
5.38%, 12/12/28 (Call 12/12/23)(a)(b)   EUR   100    120,006 
5.63%, 05/06/26(a)   EUR   100    126,403 
Banco do Brasil SA/Cayman, 5.25%, 11/27/31 (Call 05/27/26)(a)(b)   EUR   100    114,445 
Cellnex Finance Co. SA              
0.75%, 11/15/26 (Call 08/15/26)(a)   EUR   100    108,887 
1.00%, 09/15/27 (Call 06/15/27)(a)   EUR   100    106,724 
1.25%, 01/15/29 (Call 10/15/28)(a)   EUR   200    209,210 
1.50%, 06/08/28 (Call 03/08/28)(a)   EUR   100    107,817 
2.00%, 09/15/32 (Call 06/15/32)(a)   EUR   200    208,665 
2.00%, 02/15/33 (Call 11/15/32)(a)   EUR   300    308,309 
Cellnex Telecom SA              
1.00%, 04/20/27 (Call 01/20/27)(a)   EUR   100    107,968 

 

Security      Par
(000)		  Value
           
Spain (continued)              
1.88%, 06/26/29 (Call 03/26/29)   EUR   100   $108,403 
2.38%, 01/16/24 (Call 10/16/23)(a)   EUR   100    116,172 
2.88%, 04/18/25 (Call 01/18/25)(a)   EUR   100    119,022 
Cirsa Finance International Sarl              
4.50%, 03/15/27 (Call 09/15/23)(a)   EUR   100    107,348 
6.25%, 12/20/23 (Call 02/10/22)(a)   EUR   85    95,948 
ContourGlobal Power Holdings SA              
2.75%, 01/01/26 (Call 01/01/23)(a)   EUR   100    106,250 
4.13%, 08/01/25 (Call 03/02/22)(a)   EUR   100    112,531 
El Corte Ingles SA              
3.00%, 03/15/24 (Call 02/10/22)(a)   EUR   100    112,923 
3.63%, 03/15/24 (Call 03/15/22)(a)   EUR   100    114,449 
Grifols Escrow Issuer SA, 3.88%, 10/15/28
(Call 10/15/24)(a)		   EUR   250    272,083 
Grifols SA              
1.63%, 02/15/25 (Call 03/02/22)(a)   EUR   150    165,485 
3.20%, 05/01/25 (Call 03/02/22)(a)   EUR   200    222,000 
Ibercaja Banco SA, 2.75%, 07/23/30 (Call 07/23/25)(a)(b)   EUR   100    111,149 
International Consolidated Airlines Group SA, 2.75%, 03/25/25 (Call 12/25/24)(a)   EUR   100    111,097 
Lorca Telecom Bondco SA, 4.00%, 09/18/27 (Call 09/30/23)(a)   EUR   300    331,205 
Repsol International Finance BV, 4.50%, 03/25/75 (Call 03/25/25)(a)(b)   EUR   175    208,152 
Unicaja Banco SA, 2.88%, 11/13/29 (Call 11/13/24)(a)(b)   EUR   100    112,514 
             4,712,257 
Sweden — 3.4%              
Akelius Residential Property AB              
2.25%, 05/17/81 (Call 02/17/26)(a)(b)   EUR   100    106,825 
3.88%, 10/05/78 (Call 07/08/23)(a)(b)   EUR   100    116,078 
Dometic Group AB              
2.00%, 09/29/28 (Call 06/29/28)(a)   EUR   100    107,295 
3.00%, 09/13/23 (Call 08/13/23)(a)   EUR   100    115,694 
Fastighets AB Balder              
2.87%, 06/02/81 (Call 03/02/26)(a)(b)   EUR   100    104,885 
3.00%, 03/07/78 (Call 03/07/23)(a)(b)   EUR   100    112,046 
Intrum AB              
3.00%, 09/15/27 (Call 09/15/22)(a)   EUR   100    107,595 
3.13%, 07/15/24 (Call 03/02/22)(a)   EUR   100    111,845 
3.50%, 07/15/26 (Call 07/15/22)(a)   EUR   175    195,092 
4.88%, 08/15/25 (Call 08/15/22)(a)   EUR   200    230,157 
Verisure Holding AB              
3.25%, 02/15/27 (Call 02/15/23)(a)   EUR   150    163,351 
3.88%, 07/15/26 (Call 07/15/22)(a)   EUR   100    112,589 
Verisure Midholding AB, 5.25%, 02/15/29
(Call 02/15/24)(a)		   EUR   300    332,963 
Volvo Car AB              
2.00%, 01/24/25 (Call 10/24/24)(a)   EUR   200    230,599 
2.13%, 04/02/24 (Call 01/02/24)(a)   EUR   100    115,207 
             2,262,221 
Switzerland — 0.5%              
Dufry One BV              
2.00%, 02/15/27 (Call 02/15/23)(a)   EUR   100    103,141 
2.50%, 10/15/24 (Call 03/02/22)(a)   EUR   100    110,087 
3.38%, 04/15/28 (Call 04/15/24)(a)   EUR   100    107,542 
             320,770 
United Kingdom — 11.8%              
Arqiva Broadcast Finance PLC, 6.75%, 09/30/23 (Call 03/02/22)(a)   GBP   150    203,756 
BCP V Modular Services Finance II PLC              
4.75%, 11/30/28 (Call 11/30/24)(a)   EUR   200    214,629 
6.13%, 11/30/28 (Call 11/30/24)(a)   GBP   100    126,753 

 

4

 

 

Schedule of Investments (unaudited) (continued) iShares® International High Yield Bond ETF
January 31, 2022 (Percentages shown are based on Net Assets)

 

Security      Par
(000)		  Value
           
United Kingdom (continued)              
Bellis Acquisition Co. PLC              
3.25%, 02/16/26 (Call 02/24/23)(a)   GBP   300   $373,355 
4.50%, 02/16/26 (Call 02/24/23)(a)   GBP   100    130,505 
Bellis Finco PLC, 4.00%, 02/16/27 (Call 02/24/23)(a)   GBP   100    121,707 
British Telecommunications PLC, 1.87%, 08/18/80 (Call 05/18/25)(a)(b)   EUR   100    109,289 
Cidron Aida Finco Sarl, 5.00%, 04/01/28 (Call 04/01/24)(a)   EUR   100    108,636 
Deuce Finco PLC, 5.50%, 06/15/27 (Call 06/15/23)(a)   GBP   100    132,744 
eG Global Finance PLC, 4.38%, 02/07/25
(Call 03/02/22)(a)		   EUR   225    247,915 
Heathrow Finance PLC              
4.38%, 03/01/27(a)(g)   GBP   100    131,598 
5.25%, 03/01/24 (Call 12/01/23)(a)   GBP   100    137,174 
Iceland Bondco PLC, 4.38%, 05/15/28 (Call 02/15/24)(a)   GBP   100    114,300 
INEOS Quattro Finance 2 PLC, 2.50%, 01/15/26 (Call 01/15/23)(a)   EUR   100    107,523 
INEOS Styrolution Group GmbH, 2.25%, 01/16/27 (Call 01/15/23)(a)   EUR   200    211,458 
International Consolidated Airlines Group SA              
1.50%, 07/04/27 (Call 04/04/27)(a)   EUR   100    101,941 
3.75%, 03/25/29 (Call 12/25/28)(a)   EUR   100    110,427 
Jaguar Land Rover Automotive PLC              
2.20%, 01/15/24(a)   EUR   100    110,036 
3.88%, 03/01/23(a)   GBP   100    134,861 
4.50%, 01/15/26 (Call 10/15/25)(a)   EUR   150    171,438 
4.50%, 07/15/28 (Call 07/15/24)(a)   EUR   100    111,262 
5.88%, 11/15/24 (Call 08/15/24)(a)   EUR   100    118,730 
Jerrold Finco PLC, 5.25%, 01/15/27 (Call 01/15/23)(a)   GBP   100    134,452 
Marks & Spencer PLC              
3.75%, 05/19/26 (Call 02/19/26)(a)   GBP   100    135,813 
6.00%, 06/12/25(a)   GBP   100    143,840 
Motion Finco Sarl, 7.00%, 05/15/25 (Call 05/15/22)(a)   EUR   100    116,803 
NGG Finance PLC              
1.63%, 12/05/79 (Call 09/05/24)(a)(b)   EUR   100    112,183 
2.13%, 09/05/82 (Call 06/05/27)(a)(b)   EUR   100    111,379 
5.63%, 06/18/73 (Call 06/18/25)(a)(b)   GBP   200    286,496 
Pinewood Finance Co. Ltd., 3.63%, 11/15/27 (Call 11/15/23)(a)   GBP   175    230,165 
Pinnacle Bidco PLC, 5.50%, 02/15/25 (Call 03/02/22)(a)   EUR   100    113,928 
Rolls-Royce PLC              
0.88%, 05/09/24 (Call 02/09/24)(a)   EUR   100    110,439 
1.63%, 05/09/28 (Call 02/09/28)(a)   EUR   100    104,425 
4.63%, 02/16/26 (Call 11/16/25)(a)   EUR   100    122,143 
5.75%, 10/15/27 (Call 07/15/27)(a)   GBP   100    147,945 
Sherwood Financing PLC, 4.50%, 11/15/26
(Call 11/15/23)(a)		   EUR   100    110,102 
Stonegate Pub Co. Financing 2019 PLC, 8.25%, 07/31/25 (Call 07/31/22)(a)   GBP   200    277,318 
Thames Water Utilities Finance PLC, 2.88%, 05/03/27(a)   GBP   100    133,862 
Virgin Media Finance PLC, 3.75%, 07/15/30 (Call 07/15/25)(a)   EUR   100    106,318 
Virgin Media Secured Finance PLC              
4.13%, 08/15/30 (Call 08/15/25)(a)   GBP   100    126,251 
4.25%, 01/15/30 (Call 10/15/24)(a)   GBP   100    126,084 
5.00%, 04/15/27 (Call 04/15/22)(a)   GBP   200    273,227 
Vmed O2 UK Financing I PLC              
3.25%, 01/31/31 (Call 01/31/26)(a)   EUR   100    104,878 
4.00%, 01/31/29 (Call 01/31/24)(a)   GBP   100    125,226 
4.50%, 07/15/31 (Call 07/15/26)(a)   GBP   200    254,297 
Vodafone Group PLC              
2.63%, 08/27/80 (Call 05/27/26)(a)(b)   EUR   200    223,454 
3.00%, 08/27/80 (Call 05/27/30)(a)(b)   EUR   250    272,498 
3.10%, 01/03/79 (Call 10/03/23)(a)(b)   EUR   300    344,373 

 

Security      Par
(000)		  Value
           
United Kingdom (continued)              
4.88%, 10/03/78 (Call 07/03/25)(a)(b)   GBP   100   $138,929 
             7,816,865 
United States — 14.7%              
Adient Global Holdings Ltd., 3.50%, 08/15/24 (Call 05/15/24)(a)   EUR   175    198,455 
Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl              
3.63%, 06/01/28 (Call 06/01/24)(a)   EUR   100    105,913 
4.88%, 06/01/28 (Call 06/01/24)(a)   GBP   100    125,465 
Alpha Services and Holdings SA, 5.50%, 06/11/31 (Call 03/11/26)(a)(b)   EUR   100    112,125 
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC              
2.00%, 09/01/28 (Call 05/15/24)(a)   EUR   100    107,374 
3.00%, 09/01/29 (Call 05/15/24)(a)   EUR   100    105,867 
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc.              
2.13%, 08/15/26 (Call 08/15/22)(a)   EUR   100    107,077 
4.75%, 07/15/27 (Call 07/15/22)(a)   GBP   100    130,968 
Ashland Services BV, 2.00%, 01/30/28 (Call 11/01/27)(a)   EUR   100    109,881 
Avantor Funding Inc., 2.63%, 11/01/25 (Call 11/01/22)(a)   EUR   200    226,112 
Avis Budget Finance PLC              
4.13%, 11/15/24 (Call 03/02/22)(a)   EUR   100    113,136 
4.75%, 01/30/26 (Call 03/02/22)(a)   EUR   100    113,668 
Axalta Coating Systems Dutch Holding B BV, 3.75%, 01/15/25 (Call 02/10/22)(a)   EUR   100    112,280 
Ball Corp.              
0.88%, 03/15/24 (Call 12/15/23)   EUR   100    111,798 
1.50%, 03/15/27 (Call 12/15/26)   EUR   100    111,579 
4.38%, 12/15/23   EUR   100    119,925 
Belden Inc., 3.88%, 03/15/28 (Call 03/15/23)(a)   EUR   150    167,181 
Boxer Parent Co. Inc., 6.50%, 10/02/25 (Call 06/01/22)(a)   EUR   100    116,508 
Carnival PLC, 1.00%, 10/28/29 (Call 07/28/29)   EUR   100    83,782 
Catalent Pharma Solutions Inc., 2.38%, 03/01/28 (Call 03/01/23)(a)   EUR   150    162,071 
Chemours Co. (The), 4.00%, 05/15/26 (Call 03/02/22)   EUR   100    112,159 
Clarios Global LP/Clarios US Finance Co., 4.38%, 05/15/26 (Call 05/15/22)(a)   EUR   125    142,576 
Constellium SE, 3.13%, 07/15/29 (Call 07/15/24)(a)   EUR   100    106,130 
Coty Inc.              
3.88%, 04/15/26 (Call 04/15/23)(a)   EUR   100    112,483 
4.75%, 04/15/26 (Call 03/02/22)(a)   EUR   100    112,303 
Crown European Holdings SA              
0.75%, 02/15/23 (Call 01/15/23)(a)   EUR   100    111,679 
2.25%, 02/01/23 (Call 11/01/22)(a)   EUR   100    113,074 
2.63%, 09/30/24 (Call 03/31/24)(a)   EUR   125    143,589 
2.88%, 02/01/26 (Call 08/01/25)(a)   EUR   100    116,661 
Darling Global Finance BV, 3.63%, 05/15/26 (Call 02/10/22)(a)   EUR   100    113,284 
Encore Capital Group Inc., 5.38%, 02/15/26 (Call 11/15/22)(a)   GBP   100    138,081 
Ford Credit Canada Co, 2.96%, 09/16/26 (Call 08/16/26)   CAD   100    76,266 
Ford Credit Canada Co.              
3.50%, 11/30/23   CAD   100    79,270 
3.74%, 05/08/23   CAD   75    59,535 
4.46%, 11/13/24   CAD   100    81,131 
Ford Motor Credit Co. LLC              
1.36%, 02/07/25   EUR   100    111,720 
1.51%, 02/17/23   EUR   100    113,017 
1.74%, 07/19/24   EUR   100    112,806 
2.33%, 11/25/25   EUR   100    115,321 
2.39%, 02/17/26   EUR   225    260,054 
2.75%, 06/14/24   GBP   200    267,659 

 

5

 

 

Schedule of Investments (unaudited) (continued) iShares® International High Yield Bond ETF
January 31, 2022 (Percentages shown are based on Net Assets)

 

 

Security      Par
(000)		  Value
           
United States (continued)              
3.02%, 03/06/24   EUR   100   $116,012 
3.25%, 09/15/25   EUR   100    118,656 
Goodyear Europe BV, 2.75%, 08/15/28 (Call 08/15/24)(a)   EUR   100    111,666 
Hanesbrands Finance Luxembourg SCA, 3.50%, 06/15/24 (Call 03/15/24)(a)   EUR   100    116,679 
International Game Technology PLC              
3.50%, 07/15/24 (Call 01/15/24)(a)   EUR   100    116,530 
3.50%, 06/15/26 (Call 06/15/22)(a)   EUR   150    169,378 
IQVIA Inc.              
1.75%, 03/15/26 (Call 03/15/23)(a)   EUR   100    111,780 
2.25%, 01/15/28 (Call 07/15/22)(a)   EUR   150    164,755 
2.25%, 03/15/29 (Call 03/15/24)(a)   EUR   200    216,298 
2.88%, 09/15/25 (Call 02/10/22)(a)   EUR   100    112,757 
Iron Mountain UK PLC, 3.88%, 11/15/25 (Call 02/10/22)(a)   GBP   100    134,263 
Kraft Heinz Foods Co.              
2.00%, 06/30/23 (Call 03/30/23)(a)   EUR   200    229,341 
2.25%, 05/25/28 (Call 02/25/28)(a)   EUR   200    237,781 
4.13%, 07/01/27 (Call 04/01/27)(a)   GBP   100    144,688 
Levi Strauss & Co., 3.38%, 03/15/27 (Call 03/15/22)   EUR   100    113,379 
Liberty Mutual Group Inc., 3.63%, 05/23/59 (Call 05/23/24)(a)(b)   EUR   100    114,221 
Mauser Packaging Solutions Holding Co., 4.75%, 04/15/24 (Call 03/02/22)(a)   EUR   100    111,616 
MPT Operating Partnership LP/MPT Finance Corp.              
0.99%, 10/15/26 (Call 09/15/26)   EUR   100    110,059 
2.50%, 03/24/26 (Call 02/24/26)   GBP   100    132,050 
3.33%, 03/24/25 (Call 12/24/24)   EUR   100    119,569 
3.38%, 04/24/30 (Call 01/24/30)   GBP   100    134,351 
3.69%, 06/05/28 (Call 04/06/28)   GBP   100    137,648 
Novelis Sheet Ingot GmbH, 3.38%, 04/15/29 (Call 04/15/24)(a)   EUR   100    110,137 
OI European Group BV, 3.13%, 11/15/24 (Call 08/15/24)(a)   EUR   200    227,959 
Olympus Water U.S. Holding Corp., 3.88%, 10/01/28 (Call 10/01/24)(a)   EUR   100    109,013 
Organon & Co./Organon Foreign Debt Co-Issuer BV., 2.88%, 04/30/28 (Call 04/30/24)(a)   EUR   200    218,013 
Primo Water Holdings Inc., 3.88%, 10/31/28 (Call 10/31/23)(a)   EUR   100    111,067 
Scientific Games International Inc., 5.50%, 02/15/26 (Call 03/02/22)(a)   EUR   100    114,134 
Sealed Air Corp., 4.50%, 09/15/23 (Call 06/15/23)(a)   EUR   100    117,597 
Silgan Holdings Inc.              
2.25%, 06/01/28 (Call 03/01/23)   EUR   100    109,063 
3.25%, 03/15/25 (Call 03/02/22)   EUR   100    111,945 
Spectrum Brands Inc., 4.00%, 10/01/26 (Call 03/02/22)(a)   EUR   100    113,541 
Standard Industries Inc./NJ, 2.25%, 11/21/26 (Call 08/21/26)(a)   EUR   100    106,031 

 

Security      Par/
Shares
(000)		  Value
           
United States (continued)              
WMG Acquisition Corp., 2.25%, 08/15/31
(Call 08/15/26)(a)		   EUR   100   $106,378 
             9,768,318 
               
Total Corporate Bonds & Notes — 98.1%              
(Cost: $68,039,748)            65,033,737 
               
Common Stocks              
               
South Africa — 0.0%              
Sentry Holdings Ltd.Class A(h)       0(i)   — 
               
Total Common Stocks — 0.0%              
(Cost: $159,437)           — 
               
Short-Term Investments              
               
Money Market Funds — 0.0%              
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(j)(k)       20    20,000 
               
Total Short-Term Investments — 0.0%              
(Cost: $20,000)            20,000 
               
Total Investments in Securities — 98.1%              
(Cost: $68,219,185)            65,053,737 
               
Other Assets, Less Liabilities — 1.9%            1,239,274 
               
Net Assets — 100.0%           $66,293,011 

 

(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)Non-income producing security.

(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)Zero-coupon bond.

(i)Rounds to less than 1,000.

(j)Affiliate of the Fund.

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

 

Affiliates

 

Investments in issuers considered to be affiliate(s) of the Fund during the period ended January 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer   
 
Value at
10/31/21		    
 
Purchases
at Cost		    
 
Proceeds
from Sales		    
 
Net Realized
Gain (Loss)		   Change in
Unrealized
Appreciation
(Depreciation)		    
 
Value at
01/31/22		   Shares
Held at
01/31/22
(000)		   Income    
Capital Gain
Distributions from
Underlying Funds		 
BlackRock Cash Funds: Treasury, SL Agency Shares  $20,000   $0(a)  $—   $—   $—   $20,000    20   $6   $— 

 

(a)Represents net amount purchased (sold).

 

6

 

 

Schedule of Investments (unaudited) (continued) iShares® International High Yield Bond ETF
January 31, 2022

  

 

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.

 

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                    
Corporate Bonds & Notes  $—   $65,033,737   $—   $65,033,737 
Common Stocks   —    —    —    — 
Money Market Funds   20,000    —    —    20,000 
   $20,000   $65,033,737   $—   $65,053,737 

 

Portfolio Abbreviations - Fixed Income
 
CAB Capital Appreciation Bonds

 

Currency Abbreviations
 
CAD Canadian Dollar
EUR Euro
GBP British Pound

 

7