Consolidated Schedule of Investments (unaudited)	iShares® MSCI Emerging Markets Small-Cap ETF
May 31, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Brazil — 6.0%
3R Petroleum Oleo E Gas SA(a)		59,094	$	606,166
AES Brasil Energia SA		98,624		226,195
Aliansce Sonae Shopping Centers SA		53,649		217,980
Alupar Investimento SA		44,594		251,000
Ambipar Participacoes e Empreendimentos SA		31,959		202,074
Anima Holding SA(a)		187,600		220,262
Arezzo Industria e Comercio SA		20,100		339,190
Armac Locacao Logistica E Servicos SA		49,111		142,810
Auren Energia SA		97,765		287,172
Boa Vista Servicos SA		104,121		131,451
BR Malls Participacoes SA		288,100		512,240
BR Properties SA		69,309		128,627
Cia Brasileira de Aluminio		54,136		186,697
Cia Brasileira de Distribuicao		60,300		256,677
Cia Paranaense de Energia		32,562		248,983
Cia. de Locacao das Americas		126,027		678,590
Cia. de Saneamento de Minas Gerais-COPASA		70,082		198,631
Cia. de Saneamento do Parana		59,362		250,685
Cielo SA		506,453		420,930
CM Hospitalar SA		43,483		136,784
Cogna Educacao(a)		735,794		410,275
CVC Brasil Operadora e Agencia de Viagens SA(a)		127,501		292,961
Cyrela Brazil Realty SA Empreendimentos e Participacoes		109,009		313,089
Dexco SA		132,660		312,910
EcoRodovias Infraestrutura e Logistica SA(a)		168,237		260,893
EDP - Energias do Brasil SA		90,179		407,201
Embraer SA(a)		253,595		679,803
Enauta Participacoes SA		38,793		192,473
Eneva SA(a)		252,389		827,392
Ez Tec Empreendimentos e Participacoes SA		49,781		170,421
Fleury SA		69,345		221,493
GPS Participacoes e Empreendimentos SA(b)		100,366		287,421
Grendene SA		131,119		235,888
Grupo De Moda Soma SA		178,548		426,031
Grupo Mateus SA(a)		211,117		205,229
Grupo SBF SA		40,200		203,430
Iguatemi SA		46,416		193,768
Infracommerce CXAAS SA(a)		19,765		21,335
Intelbras SA Industria de Telecomunicacao Eletronica Brasileira		27,068		148,993
Iochpe Maxion SA		47,017		147,406
IRB Brasil Resseguros S/A(a)		375,860		232,513
JHSF Participacoes SA		111,868		165,947
Light SA		90,219		146,171
Locaweb Servicos de Internet SA(a)(b)		236,314		328,673
LOG Commercial Properties e Participacoes SA		20,172		95,500
Lojas Quero Quero S/A		83,415		152,524
M. Dias Branco SA		30,887		168,390
Mahle-Metal Leve SA		16,951		93,484
Marfrig Global Foods SA		143,581		472,203
Meliuz SA(a)(b)		156,914		62,732
Minerva SA		102,376		306,317
Movida Participacoes SA		66,263		249,155
MRV Engenharia e Participacoes SA		130,293		264,833
Multiplan Empreendimentos Imobiliarios SA		110,215		558,664
Odontoprev SA		110,550		234,938
Omega Energia SA(a)		114,414		260,002

Security	Shares		Value
Brazil (continued)
Pet Center Comercio e Participacoes SA		140,968	$	359,795
Santos Brasil Participacoes SA		201,112		308,065
Sao Martinho SA		68,854		730,040
Sendas Distribuidora SA		302,505		1,008,233
SIMPAR SA		146,677		367,885
SLC Agricola SA		39,945		461,012
Smartfit Escola de Ginastica e Danca SA(a)		106,466		325,947
Sul America SA		98,523		555,579
Transmissora Alianca de Energia Eletrica SA		64,870		551,167
Tupy SA		26,800		130,263
Vamos Locacao de Caminhoes Maquinas e Equipamentos SA		108,339		343,535
Via S/A(a)		606,718		400,857
Vivara Participacoes SA		40,200		208,082
YDUQS Participacoes SA		127,970		435,672
				21,579,734
Chile — 0.5%
Aguas Andinas SA, Class A		1,022,822		214,490
CAP SA		27,001		345,654
Cencosud Shopping SA		239,257		254,730
Colbun SA		3,290,906		245,700
Empresa Nacional de Telecomunicaciones SA		52,528		196,343
Itau CorpBanca Chile SA		112,408,123		282,477
Plaza SA		173,492		168,507
Vina Concha y Toro SA		160,398		253,138
				1,961,039
China — 9.0%
361 Degrees International Ltd.(a)		335,000		167,438
Agora Inc., ADR(a)		23,517		143,219
AK Medical Holdings Ltd.(b)		268,000		159,150
Akeso Inc.(a)(b)		134,000		278,000
Alphamab Oncology(a)(b)		134,000		132,340
Antengene Corp. Ltd.(a)(b)		67,000		60,962
Anxin-China Holdings Ltd.(c)		1,084,000		1
Ascentage Pharma Group International(a)(b)		46,900		104,113
Asia Cement China Holdings Corp.		290,000		178,196
Ausnutria Dairy Corp. Ltd.(a)		67,000		71,122
Bairong Inc. (a)(b)		67,000		80,087
Baozun Inc., ADR(a)(d)		20,301		183,115
Beijing Gas Blue Sky Holdings Ltd.(a)(c)		2,912,000		19,003
Beijing Jingneng Clean Energy Co. Ltd., Class H		536,000		129,726
Beijing Tong Ren Tang Chinese Medicine Co. Ltd.(d)		134,000		176,127
Binjiang Service Group Co. Ltd.		41,000		128,536
BOE Varitronix Ltd.		67,000		81,112
Boshiwa International Holding Ltd.(c)		32,000		—
Brii Biosciences Ltd.(a)		67,000		71,891
C&D International Investment Group Ltd.		163,000		350,653
Canaan Inc.(a)(d)		76,088		284,569
Canvest Environmental Protection Group Co. Ltd.		335,000		165,835
CARsgen Therapeutics Holdings Ltd., NVS(b)		33,500		45,679
Central China Management Co. Ltd.		804,000		116,903
Central China New Life Ltd.(a)		536,000		227,624
CGN Mining Co. Ltd.		335,000		34,579
CGN New Energy Holdings Co. Ltd.		484,000		239,563
Changsha Broad Homes Industrial Group Co Ltd., Class H(a)(b)		80,400		100,408
China Animal Healthcare Ltd.(c)		126,000		—
China Aoyuan Group Ltd.(c)		603,000		80,274
China BlueChemical Ltd., Class H		938,000		329,972

1

Consolidated Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets Small-Cap ETF
May 31, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
China (continued)
China Conch Environment Protection Holdings Ltd.(a)		603,000	$	396,508
China Datang Corp. Renewable Power Co. Ltd., Class H		871,000		302,844
China Education Group Holdings Ltd.		268,000		185,447
China Everbright Greentech Ltd.(b)		536,000		143,339
China Everbright Ltd.		402,000		368,324
China Foods Ltd.		536,000		185,768
China Harmony Auto Holding Ltd.		368,500		164,128
China High Speed Transmission Equipment Group Co. Ltd.(a)		359,000		205,363
China Huiyuan Juice Group Ltd.(c)		379,000		—
China Lilang Ltd.		201,000		96,957
China Lumena New Materials Corp.(a)(c)(d)		5,249		—
China Metal Recycling Holdings Ltd.(c)		12,000		—
China Modern Dairy Holdings Ltd.(d)		1,742,000		250,476
China Nonferrous Mining Corp Ltd.		268,000		153,344
China Oriental Group Co. Ltd.		804,000		210,770
China Overseas Grand Oceans Group Ltd.		816,000		415,609
China Renaissance Holdings Ltd.(b)		154,100		192,121
China Shineway Pharmaceutical Group Ltd.		167,000		125,602
China South City Holdings Ltd.		2,278,000		191,320
China Tobacco International HK Co. Ltd.		94,000		140,863
China Travel International Investment Hong Kong Ltd.(a)(d)		1,074,000		199,894
China Water Affairs Group Ltd.(d)		288,000		286,572
China Youran Dairy Group Ltd.(a)(b)(d)		402,000		160,836
China Youzan Ltd.(a)		4,556,000		67,348
China Yuhua Education Corp. Ltd.(b)		268,000		38,251
China Zhongwang Holdings Ltd.(a)(c)(d)		696,800		93,437
Chindata Group Holdings Ltd., ADR(a)		41,138		308,124
CIMC Enric Holdings Ltd.		268,000		281,334
CMGE Technology Group Ltd.		1,004,000		263,523
COFCO Joycome Foods Ltd.		938,000		383,050
Concord New Energy Group Ltd.		2,680,000		266,266
Cosmopolitan International Holdings Ltd.(a)		938,000		160,448
CPMC Holdings Ltd.		36,000		14,851
CStone Pharmaceuticals(a)(b)(c)(d)		435,500		258,512
Dada Nexus Ltd., ADR(a)		20,301		153,273
Dexin China Holdings Co. Ltd.(a)		670,000		219,429
Differ Group Holding Co. Ltd.(d)		1,388,000		375,099
Digital China Holdings Ltd.		466,000		219,539
Everest Medicines Ltd.(a)(b)		100,500		282,464
Excellence Commercial Property & Facilities Management Group Ltd.		402,000		197,026
FIH Mobile Ltd. (a)		1,340,000		172,745
FinVolution Group, ADR		45,962		193,500
Fu Shou Yuan International Group Ltd.		636,000		442,889
Fufeng Group Ltd.		670,400		314,227
Ganglong China Property Group Ltd.		278,000		158,682
GCL New Energy Holdings Ltd.(a)		8,308,000		165,951
Gemdale Properties & Investment Corp. Ltd.		3,268,000		316,387
Genertec Universal Medical Group Co. Ltd.(b)		469,000		300,613
Golden Solar New Energy Technology Holdings Ltd. (a)		146,800		130,951
GOME Retail Holdings Ltd.(a)		4,623,000		229,760
Grand Pharmaceutical Group Ltd., Class A		502,500		275,172
Greentown Management Holdings Co. Ltd.(b)		268,000		194,295
Guangzhou R&F Properties Co. Ltd., Class H		160,800		57,171
Guizhou Zhongyida Co. Ltd.		93,800		53,466
Haichang Ocean Park Holdings Ltd.(a)(b)(d)		503,000		450,324
Hainan Meilan International Airport Co. Ltd., Class H(a)		67,000		135,926
Hangzhou Steam Turbine Co. Ltd., Class B		139,464		194,449

Security	Shares		Value
China (continued)
Harbin Electric Co. Ltd., Class H		402,000	$	112,389
Helens International Holdings Co. Ltd. (a)		67,000		116,118
Hello Group Inc., ADR		43,885		266,821
Hong Kong Aerospace Technology Group Ltd. (a)		13,200		33,407
Hope Education Group Co. Ltd.(b)		536,000		32,445
Hua Han Health Industry Holdings Ltd.(c)		1,112,400		1
Hua Medicine(a)(b)		402,000		200,372
Huabao International Holdings Ltd.		268,000		144,123
Huanxi Media Group Ltd.(a)(d)		1,070,000		173,125
iDreamSky Technology Holdings Ltd.(a)(b)(d)		241,200		163,733
I-Mab, ADR(a)		14,003		121,826
Inner Mongolia Yitai Coal Co. Ltd., Class B		415,400		691,179
Inspur International Ltd.(a)		134,000		46,447
International Alliance Financial Leasing Co. Ltd. (a)(b)		128,600		60,636
IVD Medical Holding Ltd.(d)		402,000		107,962
JH Educational Technology Inc.(a)		268,000		119,092
Jiayuan International Group Ltd.(c)		536,000		23,907
Jinchuan Group International Resources Co. Ltd.		1,675,000		178,779
JinkoSolar Holding Co. Ltd., ADR(a)(d)		15,410		944,171
Joy Spreader Group Inc.(a)(d)		737,000		301,273
JW Cayman Therapeutics Co. Ltd.(a)(b)		67,000		63,779
Kangji Medical Holdings Ltd.		234,500		200,235
Kingsoft Cloud Holdings Ltd., ADR(a)		37,587		181,169
Kintor Pharmaceutical Ltd. (a)(b)		67,000		204,487
Koolearn Technology Holding Ltd.(a)(b)		100,500		47,386
KWG Group Holdings Ltd.		234,500		73,812
KWG Living Group Holdings Ltd.		134,000		41,837
Lee & Man Paper Manufacturing Ltd.		402,000		195,693
LexinFintech Holdings Ltd., ADR(a)		23,919		48,316
Lifetech Scientific Corp. (a)		1,608,000		495,921
Lonking Holdings Ltd.		950,000		247,840
Luoyang Glass Co. Ltd., Class H (a)(d)		134,000		207,964
Meitu Inc.(a)(b)(d)		1,742,000		208,687
MH Development Ltd.(c)		164,000		8,437
Midea Real Estate Holding Ltd.(b)		174,200		275,313
Mobvista Inc.(a)(b)		268,000		167,446
National Agricultural Holdings Ltd.(c)(d)		354,000		451
Nayuki Holdings Ltd.(a)		100,500		79,148
NetDragon Websoft Holdings Ltd.		115,500		232,085
New Horizon Health Ltd.(a)(b)		134,000		286,545
Niu Technologies, ADR(a)		10,184		79,741
Noah Holdings Ltd., ADR(a)		3,618		66,426
Ocumension Therapeutics(a)(b)		67,000		100,066
Peijia Medical Ltd.(a)(b)		134,000		116,118
Pou Sheng International Holdings Ltd.(a)		1,102,000		116,380
Powerlong Real Estate Holdings Ltd.		134,000		36,031
Radiance Holdings Group Co. Ltd.(d)		268,000		136,268
Redco Properties Group Ltd.(b)(d)		522,000		130,987
ReneSola Ltd., ADR(a)(d)		34,009		162,223
Road King Infrastructure Ltd.		134,000		103,229
Shanghai Industrial Holdings Ltd.		201,000		301,993
Shenzhen Investment Ltd.		804,000		173,152
Shoucheng Holdings Ltd.(d)		1,067,200		153,585
Shougang Fushan Resources Group Ltd.		804,000		347,514
Shui On Land Ltd.		1,409,500		199,277
Sihuan Pharmaceutical Holdings Group Ltd.(d)		1,756,000		252,352
Sino-Ocean Group Holding Ltd.		1,273,000		225,381
Sinopec Engineering Group Co. Ltd., Class H		626,000		319,514
Sinopec Kantons Holdings Ltd.		402,000		137,061
Skyworth Group Ltd.		584,000		297,966

2

Consolidated Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets Small-Cap ETF
May 31, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
China (continued)
SOHO China Ltd.(a)		1,172,500	$	222,421
SSY Group Ltd.(d)		670,000		303,631
Sunac Services Holdings Ltd.(a)(b)		335,000		180,580
Superb Summit International Group Ltd.(c)		11,913		3
SY Holdings Group Ltd.		287,000		235,168
TCL Electronics Holdings Ltd.(d)		670,000		327,387
Tiangong International Co. Ltd.		670,000		221,667
Tianjin Port Development Holdings Ltd.		806,000		64,538
Tianneng Power International Ltd.(d)		296,000		282,900
Tong Ren Tang Technologies Co. Ltd., Class H		268,000		200,615
Tongdao Liepin Group(a)		80,400		122,948
Towngas Smart Energy Co. Ltd.(d)		402,000		200,570
Truly International Holdings Ltd.		804,000		230,855
Tuya Inc.(a)		68,124		174,397
Untrade SMI Holdings(c)		468,800		1
Up Fintech Holding Ltd., ADR(a)(d)		74,525		304,062
Venus MedTech Hangzhou Inc., Class H(a)(b)		100,500		173,408
Vnet Group Inc., ADR(a)(d)		34,180		193,117
Weimob Inc.(a)(b)		670,000		402,143
West China Cement Ltd.		938,000		142,257
Wuling Motors Holdings Ltd.(d)		670,000		107,491
XD Inc.(a)		80,400		235,139
Yeahka Ltd.(a)(d)		114,800		286,115
Yidu Tech Inc. (a)(b)		93,800		90,845
Yuexiu REIT.		938,000		371,643
Yuexiu Transport Infrastructure Ltd.		402,000		248,846
Zhengzhou Coal Mining Machinery Group Co. Ltd., Class H		134,000		143,104
Zhou Hei Ya International Holdings Co. Ltd.(b)(d)		536,000		282,304
Zhuguang Holdings Group Co. Ltd.		938,000		144,635
				32,337,175
Colombia — 0.2%
Cementos Argos SA		177,791		259,377
Corp. Financiera Colombiana SA(a)		33,768		229,300
Grupo Argos SA		112,225		403,057
				891,734
Czech Republic — 0.0%
Philip Morris CR AS		134		99,297
Egypt — 0.3%
Cairo Investment & Real Estate Development Co. SAE		105,860		70,415
Cleopatra Hospital(a)		470,267		126,308
E-Finance for Digital & Financial Investments, NVS		129,782		116,214
Egyptian Financial Group-Hermes Holding Co.(a)		231,708		177,097
EISewedy Electric Co.(a)		267,345		104,179
Fawry for Banking & Payment Technology  Services SAE(a)		228,202		50,289
Heliopolis Housing		145,350		34,723
Juhayna Food Industries		208,550		92,660
Talaat Moustafa Group		296,550		126,171
Telecom Egypt Co.		105,650		85,627
				983,683
Greece — 0.6%
Aegean Airlines SA(a)		16,104		87,724
Athens Water Supply & Sewage Co. SA		17,008		129,239
GEK Terna Holding Real Estate Construction SA(a)		18,832		201,895
Hellenic Petroleum Holdings SA		15,460		110,422
Holding Co. ADMIE IPTO SA		43,270		105,782
LAMDA Development SA(a)		27,750		189,460

Security	Shares		Value
Greece (continued)
Motor Oil Hellas Corinth Refineries SA		20,806	$	365,885
Piraeus Financial Holdings SA(a)		249,575		316,082
Sarantis SA		15,003		117,830
Terna Energy SA		15,095		292,291
Titan Cement International SA		13,350		177,242
				2,093,852
Hungary — 0.1%
Magyar Telekom Telecommunications PLC		185,121		188,770
India — 20.8%
3M India Ltd.(a)		1,139		295,317
Aarti Drugs Ltd.		13,199		72,133
Aarti Industries Ltd.		70,216		684,655
Aavas Financiers Ltd.(a)		16,890		481,588
Adani Power Ltd.(a)		286,559		1,184,219
Aditya Birla Capital Ltd.(a)		174,870		225,909
Aditya Birla Fashion and Retail Ltd.(a)		117,049		406,202
Advanced Enzyme Technologies Ltd.		21,574		79,066
Aegis Logistics Ltd.		57,419		160,249
Affle India Ltd.(a)		22,110		297,426
AIA Engineering Ltd.		17,219		503,366
Ajanta Pharma Ltd.		10,586		233,204
Alembic Pharmaceuticals Ltd.		21,239		199,792
Alkyl Amines Chemicals		4,824		169,064
Allcargo Logistics Ltd.		42,880		175,780
Alok Industries Ltd.(a)		479,312		139,134
Amber Enterprises India Ltd.(a)		6,767		228,183
Angel One Ltd.		9,982		188,226
APL Apollo Tubes Ltd.(a)		47,899		575,696
Apollo Tyres Ltd.		121,873		341,011
Asahi India Glass Ltd.		9,782		56,258
Ashok Leyland Ltd.		528,764		930,494
Aster DM Healthcare Ltd.(a)(b)		57,486		147,306
Astral Ltd.		32,941		731,803
AstraZeneca Pharma India Ltd.		2,479		95,860
Atul Ltd.		5,628		589,001
Avanti Feeds Ltd.		27,269		149,971
Bajaj Electricals Ltd.(a)		17,085		217,057
Balaji Amines Ltd.		3,752		154,300
Balrampur Chini Mills Ltd.		48,855		253,380
BASF India Ltd.		4,459		145,831
Bata India Ltd.		19,765		475,797
Bayer CropScience Ltd.		5,293		367,868
BEML Ltd.		8,107		146,948
Bharat Dynamics Ltd.		8,442		85,212
Bharat Heavy Electricals Ltd.(a)		324,950		213,214
Birla Corp. Ltd.		10,117		126,430
Birlasoft Ltd.		62,645		297,416
Blue Dart Express Ltd.		2,077		199,817
Blue Star Ltd.		22,378		293,522
Borosil Renewables Ltd.(a)		18,425		154,080
Brigade Enterprises Ltd.		42,590		253,339
Brightcom Group Ltd.		218,643		180,051
Brookfield India Real Estate Trust(b)		49,890		207,365
BSE Ltd.		25,192		243,990
Can Fin Homes Ltd.		26,398		163,255
Canara Bank(a)		131,923		345,114
Carborundum Universal Ltd.		39,932		369,225
Castrol India Ltd.		157,048		219,434
CCL Products India Ltd.		26,599		120,705

3

Consolidated Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets Small-Cap ETF
May 31, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
India (continued)
CE Info Systems Ltd.		3,752	$	64,208
Ceat Ltd.		7,236		94,113
Central Depository Services India Ltd.		18,157		291,663
Century Plyboards India Ltd.		17,755		130,747
Century Textiles & Industries Ltd.		22,780		233,332
CESC Ltd.		218,420		218,608
CG Power and Industrial Solutions Ltd.(a)		190,615		441,952
Chambal Fertilisers and Chemicals Ltd.		66,196		308,836
Chemplast Sanmar Ltd.(a)		16,214		100,726
Cholamandalam Financial Holdings Ltd.		37,855		303,113
City Union Bank Ltd.		123,146		221,161
Clean Science and Technology(a)		9,514		212,669
Coforge Ltd.		9,447		475,464
Computer Age Management Services Ltd.		10,251		305,616
Coromandel International Ltd.		40,401		490,162
CreditAccess Grameen Ltd.(a)		19,172		262,637
CRISIL Ltd.		5,762		251,497
Crompton Greaves Consumer Electricals Ltd.		192,156		889,007
Cummins India Ltd.		44,890		592,342
Cyient Ltd.		33,366		334,862
Dalmia Bharat Ltd.		27,805		484,479
Deepak Fertilisers & Petrochemicals Corp. Ltd.		7,369		61,478
Deepak Nitrite Ltd.		25,661		657,104
Delta Corp. Ltd.		21,641		60,879
Devyani International Ltd.(a)		90,115		196,329
Dhani Services Ltd.(a)		110,386		70,914
Dixon Technologies India Ltd.		11,725		579,013
Dr Lal PathLabs Ltd.(b)		12,328		329,584
Easy Trip Planners Ltd.		23,383		114,692
eClerx Services Ltd.		6,097		158,539
EID Parry India Ltd.		32,428		231,440
Emami Ltd.		73,968		395,382
Embassy Office Parks REIT		157,718		800,693
Endurance Technologies Ltd.(b)		14,338		240,259
Engineers India Ltd.		163,078		130,643
EPL Ltd.		46,163		97,271
Eris Lifesciences Ltd.(b)		16,415		140,991
Exide Industries Ltd.		167,098		314,380
Federal Bank Ltd.		573,654		653,754
Fine Organic Industries Ltd.		2,412		150,796
Finolex Cables Ltd.		28,274		134,811
Finolex Industries Ltd.		97,954		196,715
Firstsource Solutions Ltd.		173,061		246,738
Fortis Healthcare Ltd.(a)		171,922		524,416
GHCL Ltd.		10,503		87,631
Gillette India Ltd.		4,288		269,182
GlaxoSmithKline Pharmaceuticals Ltd.		10,385		201,893
Glenmark Pharmaceuticals Ltd.		52,729		265,977
GMM Pfaudler Ltd.		4,020		216,496
GMR Infrastructure Ltd.(a)		782,359		381,023
GMR Power and Urban Infrastructure Ltd.(a)		78,235		20,255
Godawari Power and Ispat Ltd.		11,725		44,635
Godrej Industries Ltd.(a)		25,728		157,734
Granules India Ltd.		52,461		181,664
Graphite India Ltd.		35,309		200,716
Great Eastern Shipping Co. Ltd. (The)		42,277		215,389
Greaves Cotton Ltd.		39,262		78,285
Greenpanel Industries Ltd.		18,626		117,282
Grindwell Norton Ltd.		15,611		344,375
Gujarat Ambuja Exports Ltd.		28,609		124,000

Security	Shares		Value
India (continued)
Gujarat Fluorochemicals Ltd.		9,112	$	337,276
Gujarat Gas Ltd.		63,449		455,007
Gujarat Mineral Development Corp. Ltd.		21,909		43,769
Gujarat Narmada Valley Fertilizers & Chemicals Ltd.		28,207		240,118
Gujarat State Petronet Ltd.		103,314		337,003
Happiest Minds Technologies Ltd.		22,244		257,624
HFCL Ltd.		269,608		217,462
Hitachi Energy India Ltd.		1,836		83,479
ICICI Securities Ltd.(b)		30,680		175,857
IDFC First Bank Ltd.(a)		1,153,874		536,410
IDFC Ltd.		445,081		282,361
IIFL Finance Ltd.		46,699		192,356
IIFL Wealth Management Ltd.		14,204		284,971
India Cements Ltd. (The)		57,687		124,973
Indiabulls Real Estate Ltd.(a)		248,034		238,025
IndiaMART Intermesh Ltd.(b)		6,231		363,383
Indian Bank		43,885		95,784
Indian Energy Exchange Ltd.(b)		154,770		385,953
Indian Hotels Co. Ltd. (The)		261,845		789,320
Indigo Paints Ltd.(a)		4,489		92,012
Inox Leisure Ltd.(a)		29,413		189,404
Intellect Design Arena Ltd.(a)		33,500		288,994
Ipca Laboratories Ltd.		49,580		574,633
IRB Infrastructure Developers Ltd.(a)		48,515		137,463
Jaiprakash Power Ventures Ltd.(a)		742,958		66,031
JB Chemicals & Pharmaceuticals Ltd.		13,112		273,644
JK Cement Ltd.		13,199		402,464
JK Lakshmi Cement Ltd.		25,192		143,657
JK Paper Ltd.		20,569		89,086
JM Financial Ltd.		372,793		313,743
Johnson Controls-Hitachi Air Conditioning India Ltd.(a)		4,154		94,578
Jubilant Ingrevia Ltd.		27,146		175,381
Jubilant Pharmova Ltd.		25,594		126,531
Just Dial Ltd.(a)		11,053		93,553
Kajaria Ceramics Ltd.		29,078		384,693
Kansai Nerolac Paints Ltd.		50,212		258,061
Karur Vysya Bank Ltd. (The)		150,214		86,303
Kaveri Seed Co. Ltd.		12,127		89,800
KEC International Ltd.		42,009		213,416
KEI Industries Ltd.		23,517		371,938
KNR Constructions Ltd.		61,908		206,024
KPIT Technologies Ltd.		58,223		394,244
KPR Mill Ltd.		32,679		261,801
Krishna Institute Of Medical Sciences Ltd.(a)(b)		12,127		204,309
L&T Finance Holdings Ltd.(a)		279,281		271,391
Lakshmi Machine Works Ltd.		1,273		153,304
Laurus Labs Ltd.(b)		117,049		852,103
Laxmi Organic Industries Ltd.		23,651		112,107
Lemon Tree Hotels Ltd.(a)(b)		83,068		68,692
LIC Housing Finance Ltd.		117,895		571,067
Linde India Ltd.		7,035		270,324
Lloyds Metals & Energy Ltd.		26,934		49,350
Mahanagar Gas Ltd.		20,234		196,720
Mahindra & Mahindra Financial Services Ltd.		225,857		515,847
Mahindra CIE Automotive Ltd.		61,037		152,188
Mahindra Lifespace Developers Ltd.(a)		15,025		72,148
Mastek Ltd.		6,164		210,292
Max Financial Services Ltd.(a)		76,782		780,772
Max Healthcare Institute Ltd.(a)		174,517		850,373
Medplus Health Services Ltd.(a)		11,055		123,065

4

Consolidated Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets Small-Cap ETF
May 31, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
India (continued)
Metropolis Healthcare Ltd.(b)		10,117	$	209,707
Minda Industries Ltd.		32,830		387,955
Mindspace Business Parks REIT(b)		53,600		237,394
Motherson Sumi Wiring India Ltd.(a)		447,694		378,286
Motilal Oswal Financial Services Ltd.		15,544		157,839
Multi Commodity Exchange of India Ltd.		8,169		143,592
Narayana Hrudayalaya Ltd.(a)		26,130		219,639
Natco Pharma Ltd.		33,567		298,090
National Aluminium Co. Ltd.		302,706		375,052
Navin Fluorine International Ltd.		11,792		593,574
Nazara Technologies Ltd.(a)		1,139		17,841
NCC Ltd./India		209,792		173,334
Network18 Media & Investments Ltd.(a)		59,898		58,250
NIIT Ltd.		30,444		179,600
Nippon Life India Asset Management Ltd.(b)		44,287		161,320
Nuvoco Vistas Corp. Ltd.(a)		45,426		176,006
Oberoi Realty Ltd.(a)		45,292		466,852
Oil India Ltd.		90,651		278,366
Olectra Greentech Ltd.(a)		20,636		155,243
Oracle Financial Services Software Ltd.		7,772		328,469
Orient Electric Ltd.		57,352		205,645
Paisalo Digital Ltd.		11,323		110,363
PB Fintech Ltd.(a)		44,890		383,729
Persistent Systems Ltd.		17,889		863,076
Phoenix Mills Ltd. (The)		34,438		515,742
PNB Housing Finance Ltd.(a)(b)		1,973		8,184
Poly Medicure Ltd.		10,854		104,291
Polycab India Ltd.		15,410		482,175
Polyplex Corporation Ltd.		3,638		110,947
Poonawalla Fincorp Ltd.(a)		92,697		306,565
Praj Industries Ltd.		43,349		190,091
Prestige Estates Projects Ltd.		52,930		290,466
Procter & Gamble Health Ltd.		3,082		169,022
PVR Ltd.(a)		17,755		418,932
Quess Corp. Ltd.(b)		27,068		244,474
Radico Khaitan Ltd.		29,212		300,214
Rain Industries Ltd.		65,190		139,648
Rajesh Exports Ltd.		22,579		157,069
Ramco Cements Ltd. (The)(a)		47,637		426,868
Ratnamani Metals & Tubes Ltd.		7,303		247,407
RattanIndia Enterprises Ltd.(a)		104,672		66,401
Raymond Ltd.(a)		7,236		91,498
REC Ltd.		359,187		550,400
Redington India Ltd.		195,171		325,563
Relaxo Footwears Ltd.		19,229		244,942
Reliance Power Ltd.(a)		922,657		148,248
Rhi Magnesita India Ltd.		17,420		120,413
Route Mobile Ltd.		12,797		228,318
Sanofi India Ltd.		2,814		247,855
Saregama India Ltd.		28,810		159,074
Schaeffler India Ltd.		17,286		512,479
Sharda Cropchem Ltd.		7,236		66,967
Sheela Foam Ltd.(a)		5,025		194,856
Shoppers Stop Ltd.(a)		10,921		65,207
Shree Renuka Sugars Ltd.(a)		136,693		82,576
Shriram City Union Finance Ltd.		9,045		199,967
SKF India Ltd.		8,040		371,597
Sobha Ltd.		21,373		150,648
Solar Industries India Ltd.		10,385		350,745
Solara Active Pharma Sciences Ltd.		1,792		9,539

Security	Shares		Value
India (continued)
Sonata Software Ltd.		22,579	$	198,818
Spandana Sphoorty Financial Ltd.(a)		2,089		10,061
SpiceJet Ltd.(a)		376,063		227,831
Sterlite Technologies Ltd.		92,326		205,938
Sumitomo Chemical India Ltd.		30,161		178,910
Sun TV Network Ltd.		30,954		176,815
Sundram Fasteners Ltd.		36,850		369,105
Suprajit Engineering Ltd.		32,830		142,520
Supreme Industries Ltd.		23,115		543,363
Supreme Petrochem Ltd.		12,395		116,492
Suven Pharmaceuticals Ltd.		38,793		249,028
Suzlon Energy Ltd.(a)		1,916,267		210,359
Syngene International Ltd.(a)(b)		46,632		342,497
Tanla Platforms Ltd.		23,718		403,321
Tata Chemicals Ltd.		60,501		734,879
Tata Communications Ltd.		40,482		511,544
Tata Teleservices Maharashtra Ltd.(a)		184,920		298,687
TCI Express Ltd.		5,293		110,071
TeamLease Services Ltd.(a)		5,092		216,494
Tejas Networks Ltd.(a)(b)		26,130		142,753
Thermax Ltd.		15,410		394,638
Thyrocare Technologies Ltd.(b)		9,045		76,502
Timken India Ltd.		7,395		216,866
Torrent Power Ltd.		66,732		390,113
Trident Ltd.		447,426		274,040
Triveni Engineering & Industries Ltd.		37,788		142,418
TTK Prestige Ltd.		17,420		186,125
Tube Investments of India Ltd.		38,592		780,439
TV18 Broadcast Ltd.(a)		252,389		129,778
TVS Motor Co. Ltd.		67,268		634,668
UTI Asset Management Co. Ltd.		16,147		142,140
Vakrangee Ltd.		251,920		92,597
Vardhman Textiles Ltd.		43,390		159,044
V-Guard Industries Ltd.		62,444		187,309
Vijaya Diagnostic Centre Pvt Ltd.(a)		4,824		22,568
Vinati Organics Ltd.		10,921		286,584
VIP Industries Ltd.		27,269		201,334
V-Mart Retail Ltd.(a)		4,824		203,011
Vodafone Idea Ltd.(a)		3,149,804		386,327
Voltas Ltd.		76,198		994,553
Welspun Corp. Ltd.		22,818		66,512
Welspun India Ltd.		3,644		3,049
Whirlpool of India Ltd.		11,658		244,791
Yes Bank Ltd., (Acquired 03/16/20, Cost: $336,376)(e)		433,083		67,426
Yes Bank Ltd.(a)		100		17
Zee Entertainment Enterprises Ltd.		311,923		1,008,073
Zensar Technologies Ltd.		40,468		158,422
				74,594,892
Indonesia — 2.6%
Ace Hardware Indonesia Tbk PT		2,472,300		162,774
Adi Sarana Armada Tbk PT(a)		415,400		62,676
AKR Corporindo Tbk PT		3,518,000		269,717
Astra Agro Lestari Tbk PT		214,400		176,478
Bank Aladin Syariah Tbk PT(a)		1,862,600		249,735
Bank BTPN Syariah Tbk PT		844,200		176,471
Bank Bukopin Tbk PT(a)		4,629,700		65,408
Bank Neo Commerce Tbk PT		1,769,500		179,608
Bank Pembangunan Daerah Jawa Barat Dan Banten
Tbk PT		1,132,264		113,413
Bank Tabungan Negara Persero Tbk PT		1,688,400		196,621

5

Consolidated Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets Small-Cap ETF
May 31, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
Indonesia (continued)
Berkah Beton Sadaya Tbk PT		1,313,200	$	435,902
BFI Finance Indonesia Tbk PT		2,927,900		228,637
Bukit Asam Tbk PT		1,386,900		430,781
Bumi Resources Minerals Tbk PT(a)		14,071,600		220,035
Bumi Serpong Damai Tbk PT(a)		2,887,700		187,062
Ciputra Development Tbk PT		3,678,563		248,500
Cisarua Mountain Dairy PT TBK(a)		375,200		100,098
Digital Mediatama Maxima Tbk PT(a)		1,072,000		137,486
Erajaya Swasembada Tbk PT		2,894,400		105,988
Hanson International Tbk PT(a)(c)		25,794,200		—
Harum Energy Tbk PT		187,600		152,784
Indika Energy Tbk PT(a)		435,500		86,317
Indo Tambangraya Megah Tbk PT		147,500		354,057
Indocement Tunggal Prakarsa Tbk PT		442,200		294,931
Industri Jamu Dan Farmasi Sido Muncul Tbk PT		2,071,657		144,921
Inti Agri Resources Tbk PT(a)(c)		12,327,500		—
Japfa Comfeed Indonesia Tbk PT		1,742,000		170,060
Jasa Marga Persero Tbk PT(a)		844,200		231,515
Lippo Karawaci Tbk PT(a)		9,060,800		77,055
M Cash Integrasi PT(a)		174,200		170,843
Matahari Department Store Tbk PT		341,700		126,547
Medco Energi Internasional Tbk PT(a)		3,570,412		141,908
Media Nusantara Citra Tbk PT		2,546,300		169,053
Medikaloka Hermina Tbk PT		807,200		76,120
Metro Healthcare Indonesia TBK PT(a)		7,297,000		272,743
Mitra Adiperkasa Tbk PT(a)		3,584,500		221,250
Pabrik Kertas Tjiwi Kimia Tbk PT		589,600		287,415
Pacific Strategic Financial Tbk PT(a)		2,673,300		211,759
Pakuwon Jati Tbk PT(a)		6,552,600		229,190
Panin Financial Tbk PT(a)		7,457,600		143,209
Perusahaan Gas Negara Tbk PT(a)		3,966,400		489,149
Perusahaan Perkebunan London Sumatra Indonesia Tbk PT		1,433,800		140,071
Smartfren Telecom Tbk PT(a)		35,362,600		193,696
Sugih Energy Tbk PT(a)(c)		1,824,800		1
Summarecon Agung Tbk PT(a)		3,966,450		189,978
Surya Citra Media Tbk PT(a)		7,477,200		114,478
Surya Esa Perkasa Tbk PT(a)		2,482,300		200,034
Timah Tbk PT(a)		964,800		125,316
Transcoal Pacific Tbk PT(a)		355,100		280,067
Waskita Karya Persero Tbk PT(a)		5,808,994		222,668
XL Axiata Tbk PT		1,172,600		212,011
				9,476,536
Kuwait — 1.2%
Al Ahli Bank of Kuwait KSCP		268,000		289,706
Boubyan Petrochemicals Co. KSCP		182,709		656,107
Boursa Kuwait Securities Co. KPSC		38,391		320,496
Burgan Bank SAK		136,964		123,318
Gulf Cable & Electrical Industries Co. KSCP		2,201		11,695
Humansoft Holding Co. KSC		38,927		394,309
Jazeera Airways Co. KSCP		22,022		142,043
Kuwait International Bank KSCP		386,305		283,566
Kuwait Projects Co. Holding KSCP		164,552		94,725
National Industries Group Holding SAK(a)		739,810		731,281
National Investments Co. KSCP		14,271		16,778
National Real Estate Co. KPSC(a)		297,118		226,919
Qurain Petrochemical Industries Co.		223,747		271,696
Shamal Az-Zour Al-Oula for the First Phase of Az-Zour Power Plant KSC		356,909		250,605

Security	Shares		Value
Kuwait (continued)
Warba Bank KSCP(a)		534,278	$	466,984
				4,280,228
Malaysia — 2.9%
Alliance Bank Malaysia Bhd		368,700		302,824
Axis Real Estate Investment Trust		562,800		257,074
Bank Islam Malaysia Bhd		281,400		187,664
Bermaz Auto Bhd		475,800		193,428
British American Tobacco Malaysia Bhd		60,444		174,492
Bumi Armada Bhd(a)		938,000		94,400
Bursa Malaysia Bhd		254,750		385,027
Carlsberg Brewery Malaysia Bhd		67,000		337,652
Chin Hin Group Bhd, NVS		134,000		110,481
D&O Green Technologies Bhd(d)		180,900		166,165
Dagang NeXchange Bhd		789,300		185,675
DRB-Hicom Bhd		448,900		124,778
Fraser & Neave Holdings Bhd		6,700		29,717
Frontken Corp. Bhd		418,350		260,018
Gamuda Bhd		542,700		441,188
Genting Plantations Bhd		53,600		93,036
Greatech Technology Bhd(a)		214,500		185,914
Heineken Malaysia Bhd(d)		40,500		229,764
Hibiscus Petroleum Bhd		274,700		87,834
Hong Seng Consolidated Bhd(a)		529,300		226,928
IGB REIT		710,200		266,011
IJM Corp. Bhd(d)		1,065,300		437,134
IOI Properties Group Bhd		495,800		114,065
Kossan Rubber Industries Bhd(d)		596,300		224,556
Lotte Chemical Titan Holding Bhd(b)		234,500		109,792
Magnum Bhd		375,350		149,911
Mah Sing Group Bhd(d)		408,857		59,684
Malaysia Building Society Bhd		1,199,400		168,276
Malaysian Pacific Industries Bhd		33,500		248,973
My EG Services Bhd		2,045,000		426,929
Padini Holdings Bhd		221,100		169,393
Pentamaster Corp. Bhd		274,750		231,705
Scientex BHD		342,500		283,168
Sime Darby Property Bhd		1,199,800		140,959
SKP Resources Bhd		442,200		152,094
SP Setia Bhd Group		676,800		130,479
Sports Toto Bhd		395,400		171,978
Sunway Bhd		493,800		194,944
Sunway Construction Group Bhd		308,320		119,004
Sunway REIT		837,500		298,390
Supermax Corp. Bhd		741,616		177,846
Syarikat Takaful Malaysia Keluarga Bhd		133,544		106,059
TIME dotCom Bhd		434,200		433,357
TSH Resources Bhd		80,400		23,137
UMW Holdings Bhd		140,800		108,967
Unisem M Bhd		147,400		92,023
United Plantations Bhd		13,400		44,833
UWC BHD		268,000		179,307
ViTrox Corp. Bhd		161,000		282,821
VS Industry Bhd(d)		1,125,850		254,839
Yinson Holdings Bhd		496,000		258,194
YTL Corp. Bhd		1,054,300		153,961
				10,286,848
Mexico — 2.0%
Alsea SAB de CV(a)		201,100		430,699
Banco del Bajio SA(b)		268,000		661,132

6

Consolidated Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets Small-Cap ETF
May 31, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
Mexico (continued)
Bolsa Mexicana de Valores SAB de CV.		127,300	$	234,477
Concentradora Fibra Danhos SA de CV(d)		93,800		113,958
Controladora Vuela Cia. de Aviacion SAB de CV, Class A(a)(d)		314,900		491,539
Corp Inmobiliaria Vesta SAB de CV		234,500		478,044
GCC SAB de CV		67,020		467,085
Genomma Lab Internacional SAB de CV, Class B(d)		301,600		304,197
Gentera SAB de CV		395,300		303,899
Grupo Aeroportuario del Centro Norte SAB de CV		104,808		757,762
Grupo Comercial Chedraui SA de CV		67,000		185,709
Grupo Herdez SAB de CV		47,214		72,187
Grupo Rotoplas SAB de CV		78,467		114,269
Grupo Traxion SAB de CV(a)(b)(d)		87,100		143,304
La Comer SAB de CV(d)		174,200		337,061
Macquarie Mexico Real Estate Management SA de CV(b)		294,900		393,040
Nemak SAB de CV(a)(b)		643,296		146,111
PLA Administradora Industrial S. de RL de CV(d)		288,100		431,114
Prologis Property Mexico SA de CV		167,531		437,970
Qualitas Controladora SAB de CV		53,600		268,946
Regional SAB de CV(d)		80,400		465,965
				7,238,468
Panama — 0.1%
Intercorp Financial Services Inc.		12,127		330,946
Philippines — 1.0%
Alliance Global Group Inc.		1,373,500		280,318
AREIT Inc.		120,600		93,234
Bloomberry Resorts Corp.(a)		1,661,600		200,772
Cebu Air Inc.(a)		100,510		86,333
Century Pacific Food Inc.		415,400		174,446
Cosco Capital Inc.		1,675,000		150,594
D&L Industries Inc.		938,100		126,111
DMCI Holdings Inc.		1,815,700		311,931
LT Group Inc.		964,800		150,878
Manila Water Co. Inc.		449,000		156,709
Megaworld Corp.		4,020,000		211,574
Puregold Price Club Inc.		268,000		168,668
RL Commercial REIT Inc.		1,145,700		145,652
Robinsons Land Corp.		743,700		275,149
Robinsons Retail Holdings Inc.		116,040		117,840
Security Bank Corp.		133,040		234,193
Semirara Mining & Power Corp.		314,900		198,815
Vista Land & Lifescapes Inc.		1,030,100		46,199
Wilcon Depot Inc.		643,300		325,411
				3,454,827
Poland — 1.2%
Alior Bank SA(a)(d)		35,175		273,051
AmRest Holdings SE(a)(d)		39,863		171,662
Asseco Poland SA		23,986		432,968
Bank Millennium SA(a)(d)		236,443		270,883
Budimex SA(d)		4,623		239,201
CCC SA(a)(d)		23,117		282,134
Ciech SA		10,519		98,452
Enea SA(a)		81,941		170,979
Grupa Azoty SA(a)		18,894		223,452
Grupa Lotos SA(a)		33,165		547,079
Jastrzebska Spolka Weglowa SA(a)		20,277		315,570
KRUK SA(d)		6,499		416,242
LiveChat Software SA		6,834		149,724
Neuca SA		938		166,258

Security	Shares		Value
Poland (continued)
Tauron Polska Energia SA(a)		380,091	$	293,808
Warsaw Stock Exchange		9,380		83,534
				4,134,997
Qatar — 0.9%
Aamal Co.		690,837		214,690
Al Meera Consumer Goods Co. QSC		32,293		161,365
BaladnA		416,606		207,604
Doha Bank QPSC		469,134		343,991
Gulf International Services QSC(a)		242,684		130,201
Gulf Warehousing Co.		135,340		166,310
Medicare Group		67,335		129,609
Qatar Aluminum Manufacturing Co.		957,229		534,436
Qatar Insurance Co. SAQ		603,804		400,084
Qatar National Cement Co. QSC		103,783		142,138
Qatar Navigation QSC		192,972		447,155
United Development Co. QSC		625,964		246,975
Vodafone Qatar QSC		636,366		281,397
				3,405,955
Russia — 0.0%
Credit Bank of Moscow PJSC(a)(c)		4,743,600		756
Detsky Mir PJSC(b)(c)		238,520		38
Federal Grid Co. Unified Energy System PJSC(c)		142,040,000		23
Globaltrans Investment PLC, GDR(c)		36,180		6
Lenta PJSC, GDR(a)(c)		58,692		9
LSR Group PJSC(c)		16,818		3
Mosenergo PJSC(c)		4,900,000		781
QIWI PJSC, ADR(c)		20,971		3
Rostelecom PJSC(c)		373,860		59
Segezha Group PJSC(b)(c)		1,675,000		267
Sistema PJSFC, GDR(c)		93,264		933
Sovcomflot PJSC(c)		338,350		54
Unipro PJSC(c)		4,288,000		683
United Medical Group, GDR(c)		11,658		2
				3,617
Saudi Arabia — 2.9%
Abdullah Al Othaim Markets Co.		11,725		345,763
Al Hammadi Co. for Development and Investment		28,073		388,807
Al Jouf Agricultural Development Co.(a)		6,566		90,104
Al Moammar Information Systems Co.		4,891		156,372
Al Rajhi Co. for Co-operative Insurance(a)		7,906		151,781
Aldrees Petroleum and Transport Services Co.		16,080		327,985
AlKhorayef Water & Power Technologies Co.		1,675		54,039
Almunajem Foods Co.		6,365		119,137
Alujain Holding		12,229		234,605
Arabian Cement Co./Saudi Arabia		21,306		214,452
Arabian Contracting Services Co.		2,211		61,900
Arriyadh Development Co.		40,183		262,034
Aseer Trading Tourism & Manufacturing Co.(a)		17,554		80,277
City Cement Co.		34,706		222,249
Co. for Cooperative Insurance (The)		9,179		146,110
Dallah Healthcare Co.		11,859		362,521
Dur Hospitality Co.(a)		19,430		122,334
Eastern Province Cement Co.		21,105		259,345
Fawaz Abdulaziz Al Hokair & Co.(a)		32,830		114,398
Halwani Brothers Co.		5,427		110,734
Herfy Food Services Co.(a)		9,715		126,897
Jadwa REIT Saudi Fund		56,950		203,474
Leejam Sports Co. JSC		10,077		269,832
Maharah Human Resources Co.		10,720		190,661

7

Consolidated Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets Small-Cap ETF
May 31, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
Saudi Arabia (continued)
Methanol Chemicals Co.(a)		8,308	$	97,468
Middle East Paper Co.(a)		5,145		86,562
National Agriculture Development Co. (The)(a)		25,259		207,946
National Gas & Industrialization Co.		16,080		203,610
National Medical Care Co.		4,489		84,023
Qassim Cement Co. (The)		19,095		403,742
Saudi Airlines Catering Co.(a)		13,802		294,927
Saudi Arabia Refineries Co.		2,412		67,867
Saudi Cement Co.		26,175		392,756
Saudi Ceramic Co.		17,073		235,602
Saudi Chemical Co. Holding		23,249		204,206
Saudi Fisheries Co.(a)		16,016		155,277
Saudi Ground Services Co.(a)		37,922		318,477
Saudi Industrial Services Co.		15,216		98,533
Saudi Pharmaceutical Industries & Medical Appliances Corp.		25,929		228,028
Saudi Public Transport Co.(a)		25,460		127,052
Saudi Real Estate Co.(a)		43,550		190,607
Saudia Dairy & Foodstuff Co.		7,504		343,229
Seera Group Holding(a)		61,305		339,709
Southern Province Cement Co.		25,996		401,235
United Electronics Co.		12,328		379,488
United International Transportation Co.		15,142		189,597
Yamama Cement Co.(a)		49,312		386,555
Yanbu Cement Co.		33,031		331,256
				10,383,563
Singapore — 0.0%
China XLX Fertiliser Ltd.		134,000		110,824
South Africa — 4.0%
Adcock Ingram Holdings Ltd.		24,321		86,077
AECI Ltd.		38,123		252,102
Astral Foods Ltd.		16,683		204,979
AVI Ltd.		107,736		454,531
Barloworld Ltd.		56,682		357,620
Coronation Fund Managers Ltd.		84,286		201,397
Dis-Chem Pharmacies Ltd.(b)		114,972		259,781
Distell Group Holdings Ltd.(a)		56,347		622,622
DRDGOLD Ltd.		174,669		120,625
Equites Property Fund Ltd.		210,983		260,659
Fortress REIT Ltd., Series A		399,186		316,414
Hyprop Investments Ltd.		132,622		313,087
Investec Ltd.		96,949		598,101
Investec Property Fund Ltd.		263,524		207,903
JSE Ltd.		33,031		237,348
KAP Industrial Holdings Ltd.		732,426		219,802
Life Healthcare Group Holdings Ltd.		493,790		581,883
Momentum Metropolitan Holdings		316,374		319,938
Motus Holdings Ltd.		57,620		421,844
Netcare Ltd.		360,326		351,247
Ninety One Ltd.		73,363		202,123
Oceana Group Ltd.		34,572		124,708
Omnia Holdings Ltd.		58,022		310,032
Pick n Pay Stores Ltd.		134,335		472,378
PSG Group Ltd.(a)		58,826		348,810
Rand Merchant Investment Holdings Ltd.		270,917		497,370
Redefine Properties Ltd.		2,542,556		711,875
Resilient REIT Ltd.		104,453		363,895
Reunert Ltd.		66,799		174,814
Royal Bafokeng Platinum Ltd.		57,234		584,313

Security	Shares		Value
South Africa (continued)
Santam Ltd.		14,090	$	263,287
Sappi Ltd.(a)		222,507		810,510
Steinhoff International Holdings NV(a)		1,615,839		277,849
Super Group Ltd./South Africa		144,988		275,268
Telkom SA SOC Ltd.(a)		111,086		330,054
Thungela Resources Ltd.(d)		46,967		750,449
Tiger Brands Ltd.		57,434		525,190
Transaction Capital Ltd.		204,752		568,038
Truworths International Ltd.		130,985		456,161
Wilson Bayly Holmes-Ovcon Ltd.		20,435		106,631
				14,541,715
South Korea — 15.8%
ABLBio Inc.(a)(d)		11,524		224,082
Advanced Nano Products Co. Ltd.		1,608		119,833
AfreecaTV Co. Ltd.		3,015		260,452
Ahnlab Inc.(d)		2,647		239,890
Amicogen Inc.(a)(d)		9,045		213,112
Ananti Inc.(a)		31,021		199,895
AptaBio Therapeutics Inc.(a)		8,509		127,480
Asiana Airlines Inc.(a)		15,262		231,410
BGF Co. Ltd.		17,420		72,452
BH Co. Ltd.(d)		10,117		228,873
Binex Co. Ltd.(a)(d)		12,127		139,124
Bioneer Corp.(a)		8,771		218,824
BNC Korea Co. Ltd.(a)		17,200		137,874
BNK Financial Group Inc.		101,505		647,011
Boryung		12,346		120,445
Bukwang Pharmaceutical Co. Ltd.(d)		25,996		224,011
Cellivery Therapeutics Inc.(a)(d)		8,693		197,639
Chabiotech Co. Ltd.(a)		18,772		271,167
Chong Kun Dang Pharmaceutical Corp.(d)		3,082		230,511
Chunbo Co. Ltd.(d)		1,541		334,282
CJ CGV Co. Ltd.(a)(d)		13,132		292,252
CMG Pharmaceutical Co. Ltd.(a)		53,069		136,106
Com2uSCorp.(d)		3,216		226,066
Cosmax Inc.		4,355		245,394
CosmoAM&T Co. Ltd.(a)		8,040		352,785
COWELL FASHION Co. Ltd.(d)		16,750		94,681
Creative & Innovative System(a)(d)		17,688		205,065
CS Wind Corp.(d)		10,084		463,147
Cuckoo Homesys Co. Ltd.		4,355		112,856
Daeduck Electronics Co. Ltd./New		15,142		407,527
Daejoo Electronic Materials Co. Ltd.		4,154		298,579
Daesang Corp.(d)		10,586		191,850
Daewoo Engineering & Construction Co. Ltd.(a)(d)		69,684		367,116
Daewoo Shipbuilding & Marine Engineering Co. Ltd.(a)(d)		15,879		281,910
Daewoong Co. Ltd.		9,045		210,738
Daewoong Pharmaceutical Co. Ltd.		1,809		250,667
Daishin Securities Co. Ltd.		14,338		189,347
Danal Co. Ltd.(a)		16,683		127,159
Daou Technology Inc.		11,063		183,047
Dawonsys Co. Ltd.		9,401		216,326
DB HiTek Co. Ltd.(d)		13,686		755,453
Dentium Co. Ltd.		3,685		228,526
DGB Financial Group Inc.		63,115		443,355
DIO Corp.(a)		5,844		154,658
DL E&C Co. Ltd.		11,792		496,296
DL Holdings Co. Ltd.		3,551		200,752
Dong-A Socio Holdings Co. Ltd.		1,675		143,871
Dong-A ST Co. Ltd.		3,149		164,628

8

Consolidated Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets Small-Cap ETF
May 31, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
South Korea (continued)
Dongjin Semichem Co. Ltd.(d)		12,765	$	435,466
DongKook Pharmaceutical Co. Ltd.(d)		11,218		198,019
Dongkuk Steel Mill Co. Ltd.		23,271		332,432
Dongsuh Cos. Inc.(d)		11,212		248,535
Dongwha Enterprise Co. Ltd.(a)(d)		1,876		125,562
Dongwon F&B Co. Ltd.		757		100,495
Doosan Co. Ltd.		2,546		173,382
Doosan Fuel Cell Co. Ltd.(a)(d)		15,611		490,076
DoubleUGames Co. Ltd.		4,288		151,525
Douzone Bizon Co. Ltd.		7,431		221,712
Duk San Neolux Co. Ltd.(a)		3,886		127,943
Ecopro Co. Ltd.(d)		7,237		478,236
Ecopro HN Co. Ltd.		3,953		148,898
Enchem Co. Ltd.(a)		1,675		105,466
Eo Technics Co. Ltd.		3,015		257,421
Eoflow Co. Ltd.(a)		9,514		176,804
ESR Kendall Square REIT Co. Ltd.		44,823		244,818
Eubiologics Co. Ltd.(a)		11,591		165,391
Eugene Technology Co. Ltd.		5,159		169,039
Fila Holdings Corp.		18,291		467,576
Fine Semitech Corp.(d)		5,092		78,970
Foosung Co. Ltd.		19,713		368,527
GC Cell Corp.(a)		4,020		205,589
GemVax & Kael Co. Ltd.(a)		11,658		137,364
Geneone Life Science Inc.(a)		28,810		288,668
Genexine Inc.(a)		8,085		246,154
Giantstep Inc., NVS(a)		3,015		72,134
GOLFZON Co. Ltd.		1,273		172,595
Grand Korea Leisure Co. Ltd.(a)(d)		14,750		178,560
Green Cross Holdings Corp.(d)		10,787		189,865
GS Retail Co. Ltd.		15,075		327,100
HAESUNG DS Co. Ltd.		2,211		129,386
Hana Materials Inc.(d)		3,283		170,632
Hana Tour Service Inc.(a)		3,800		232,129
Hanall Biopharma Co. Ltd.(a)(d)		16,482		229,665
Handsome Co. Ltd.(d)		6,568		203,393
Hanil Cement Co. Ltd./New		8,576		134,679
Hanjin Transportation Co. Ltd.		4,757		117,349
Hankook & Co. Co. Ltd.		8,805		101,113
Hanmi Semiconductor Co. Ltd.		15,544		179,960
Hansae Co. Ltd.(d)		6,030		106,313
Hansol Chemical Co. Ltd.(d)		3,350		712,946
Hanssem Co. Ltd.(d)		4,020		236,142
Hanwha Aerospace Co. Ltd.		13,296		577,835
Hanwha Corp.		12,931		300,714
Hanwha Investment & Securities Co. Ltd.		45,694		151,392
Hanwha Life Insurance Co. Ltd.(a)(d)		114,302		242,258
Hanwha Systems Co. Ltd.		16,817		214,777
HDC Hyundai Development Co-Engineering & Construction, Class E(d)		22,015		245,830
Helixmith Co. Ltd.(a)(d)		16,286		292,071
Hite Jinro Co. Ltd.		12,060		346,480
HLB Life Science Co. Ltd.(a)(d)		30,900		389,654
Hugel Inc.(a)		2,546		255,250
Hwaseung Enterprise Co. Ltd.		9,849		124,864
Hyosung Advanced Materials Corp.		951		396,649
Hyosung Chemical Corp.(a)		938		176,180
Hyosung Corp.		2,825		191,850
Hyosung Heavy Industries Corp.(a)		2,381		119,479
Hyosung TNC Corp.		1,005		346,379

Security	Shares		Value
South Korea (continued)
Hyundai Autoever Corp.		2,479	$	267,383
Hyundai Bioscience Co. Ltd.(a)(d)		12,998		308,109
Hyundai Department Store Co. Ltd.		5,398		343,454
Hyundai Doosan Infracore Co. Ltd.(a)(d)		36,917		190,174
Hyundai Electric & Energy System Co. Ltd.(a)		7,483		136,196
Hyundai Elevator Co. Ltd.(d)		9,916		275,147
Hyundai Feed Inc.		603		66,821
Hyundai Home Shopping Network Corp.		2,010		95,593
Hyundai Marine & Fire Insurance Co. Ltd.		20,291		514,320
Hyundai Mipo Dockyard Co. Ltd.(a)(d)		8,888		600,005
Hyundai Rotem Co. Ltd.(a)		27,872		433,861
Hyundai Wia Corp.(d)		6,069		323,970
Il Dong Pharmaceutical Co. Ltd.(a)		4,154		140,011
Iljin Hysolus Co. Ltd.		1,139		39,955
Ilyang Pharmaceutical Co. Ltd.		8,375		181,851
Innocean Worldwide Inc.(d)		3,838		156,110
Innox Advanced Materials Co. Ltd.		2,412		85,586
Intellian Technologies Inc.		804		57,122
iNtRON Biotechnology Inc.(a)		10,050		140,406
IS Dongseo Co. Ltd.		6,164		246,172
ITM Semiconductor Co. Ltd.		3,216		90,621
JB Financial Group Co. Ltd.		43,970		317,906
Jin Air Co. Ltd.(a)		12,864		189,019
Jusung Engineering Co. Ltd.		13,199		224,020
JW Pharmaceutical Corp.		7,330		152,991
JYP Entertainment Corp.		10,727		490,880
K Car Co. Ltd., NVS		3,149		64,013
KCC Corp.(d)		1,675		469,156
KCC Glass Corp.		3,944		183,995
KEPCO Engineering & Construction Co. Inc.		4,958		295,045
KEPCO Plant Service & Engineering Co. Ltd.(d)		8,710		263,364
KG Dongbu Steel Co. Ltd.		4,422		61,298
KIWOOM Securities Co. Ltd.(d)		6,030		463,701
KMW Co. Ltd.(a)		11,993		305,247
Koh Young Technology Inc.		20,606		273,889
Kolmar Korea Co. Ltd.(d)		9,112		306,373
Kolon Industries Inc.		6,901		380,028
KoMiCo Ltd.		1,943		94,850
Korea Electric Terminal Co. Ltd.		2,523		124,795
Korea Line Corp.(a)		85,425		210,566
Korea REIT & Trust Co. Ltd.		87,033		139,647
Korean Reinsurance Co.		37,690		292,999
Kukjeon Pharmaceutical Co. Ltd., NVS		3,015		23,175
Kumho Tire Co. Inc.(a)		39,530		136,291
Kyung Dong Navien Co. Ltd.		3,286		121,565
L&C Bio Co. Ltd.(d)		6,365		199,013
LEENO Industrial Inc.		3,632		457,631
LegoChem Biosciences Inc.(a)		8,174		271,911
LIG Nex1 Co. Ltd.		4,466		285,669
LOTTE Fine Chemical Co. Ltd.		6,729		454,428
LOTTE Reit Co. Ltd.		47,302		229,993
Lotte Rental Co. Ltd.		7,035		212,456
Lotte Tour Development Co. Ltd.(a)		20,502		272,904
LS Corp.		6,266		332,700
LS Electric Co. Ltd.		6,633		273,430
Lutronic Corp.		5,293		104,388
Lx International Corp.		10,653		326,763
LX Semicon Co. Ltd.(d)		4,355		444,357
Maeil Dairies Co. Ltd.		1,273		67,887
Mando Corp.		12,264		540,725

9

Consolidated Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets Small-Cap ETF
May 31, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
South Korea (continued)
Mcnex Co. Ltd.		5,113	$	159,670
MedPacto Inc.(a)		3,417		83,409
Medytox Inc.(a)(d)		2,077		211,694
MegaStudyEdu Co. Ltd.		3,149		234,698
Mezzion Pharma Co. Ltd.(a)		8,040		125,799
Myoung Shin Industrial Co. Ltd.(a)(d)		8,911		170,114
Namhae Chemical Corp.		15,477		158,361
Naturecell Co. Ltd.(a)		19,404		274,818
NEPES Corp.(a)(d)		7,640		179,061
Nexon Games Co. Ltd.(a)		7,638		149,710
NEXTIN Inc.		2,010		113,308
NHN Corp.(a)		7,788		198,805
NICE Information Service Co. Ltd.		13,235		179,626
NKMax Co. Ltd.(a)		14,003		228,203
NongShim Co. Ltd.		1,340		298,268
OCI Co. Ltd.		7,370		764,130
Orion Holdings Corp.(d)		7,906		91,096
Oscotec Inc.(a)(d)		8,777		207,613
Ottogi Corp.		402		143,653
Paradise Co. Ltd.(a)(d)		18,626		246,395
Park Systems Corp.		1,742		153,445
Partron Co. Ltd.(d)		14,807		133,365
People & Technology Inc.		6,499		322,909
PharmaResearch Co. Ltd.		1,876		125,044
Pharmicell Co. Ltd.(a)		23,048		289,814
PI Advanced Materials Co. Ltd.(d)		7,169		288,367
Poongsan Corp.		7,390		181,413
Posco ICT Co. Ltd.		24,140		120,927
Posco International Corp.		19,028		362,657
PSK Inc.		3,618		131,964
RFHIC Corp.(d)		6,919		173,043
S&S Tech Corp.		6,365		131,903
Sam Chun Dang Pharm Co. Ltd.(a)(d)		4,824		174,877
Sam Kang M&T Co. Ltd.(a)		9,849		177,211
Samwha Capacitor Co. Ltd.		4,023		164,858
Samyang Holdings Corp.		1,407		92,343
Sang-A Frontec Co. Ltd., NVS.		4,399		142,049
Sebang Global Battery Co. Ltd.(d)		2,479		124,808
Seojin System Co. Ltd.(d)		10,452		149,795
Seoul Semiconductor Co. Ltd.(d)		16,852		173,768
SFA Engineering Corp.(d)		7,839		264,828
SFA Semicon Co. Ltd.(a)		29,748		162,609
Shin Poong Pharmaceutical Co. Ltd.(a)		12,024		282,463
Shinsegae Inc.(d)		2,613		533,549
Shinsegae International Inc.(d)		5,025		140,189
SillaJen Inc.(a)(c)		19,774		106,366
SIMMTECH Co. Ltd.(d)		7,705		316,291
SK Networks Co. Ltd.		48,575		184,203
SL Corp.(d)		6,005		150,888
SM Entertainment Co. Ltd.		7,318		409,075
SNT Motiv Co. Ltd.		4,087		154,589
SOLUM Co. Ltd.(a)		11,323		208,197
Solus Advanced Materials Co. Ltd.		6,711		343,691
Soulbrain Co. Ltd./New		1,657		365,183
ST Pharm Co. Ltd.		3,484		291,444
Taekwang Industrial Co. Ltd.		134		105,011
Taihan Electric Wire Co. Ltd.(a)(d)		203,166		365,503
TES Co. Ltd./KoreA		5,896		123,319
Tesna Inc.(d)		4,690		156,958
TKG Huchems Co. Ltd.		8,201		165,113

Security	Shares		Value
South Korea (continued)
Tokai Carbon Korea Co. Ltd.		1,876	$	208,409
Tongyang Life Insurance Co. Ltd.		20,931		99,055
TY Holdings Co. Ltd./Korea(a)		10,929		224,048
Unid Co. Ltd.(d)		1,943		199,415
UniTest Inc.(a)		7,169		162,114
Vaxcell-Bio Therapeutics Co. Ltd.(a)		2,613		98,632
Vidente Co. Ltd.(a)		14,542		136,845
Webzen Inc.(a)(d)		11,122		187,717
Wemade Co. Ltd.(d)		6,567		448,562
WONIK IPS Co. Ltd.(d)		11,659		365,382
Wonik QnC Corp.(d)		6,566		175,987
Woori Technology Investment Co. Ltd.(a)		21,842		122,087
Wysiwyg Studious Co. Ltd.(a)		9,246		241,705
Y2 Solution Co. Ltd.(a)(c)		8,823		9,570
YG Entertainment Inc.(d)		4,434		201,820
Youngone Corp.		9,056		337,889
Zinus Inc.(d)		4,221		202,807
				56,724,654
Taiwan — 21.1%
AcBel Polytech Inc.		134,000		133,772
ADATA Technology Co. Ltd.		85,000		221,073
Adimmune Corp.		105,000		127,700
Advanced Ceramic X Corp.		18,000		144,069
Advanced Energy Solution Holding Co. Ltd.		11,000		427,713
Advanced Wireless Semiconductor Co.		67,596		218,717
Alchip Technologies Ltd.		26,000		825,913
AmTRAN Technology Co. Ltd.		380,471		170,110
AP Memory Technology Corp.		29,000		287,745
Arcadyan Technology Corp.		67,541		284,051
Ardentec Corp.		201,000		332,600
Asia Optical Co. Inc.		67,000		158,052
Asia Pacific Telecom Co. Ltd.(a)		737,910		180,245
Asia Vital Components Co. Ltd.		134,000		517,112
ASPEED Technology Inc.		8,000		635,961
BES Engineering Corp.		536,000		169,983
Bizlink Holding Inc.		53,770		574,326
Brighton-Best International Taiwan Inc.		134,000		160,977
Capital Securities Corp.		670,530		341,253
Cathay Real Estate Development Co. Ltd.		201,300		123,957
Center Laboratories Inc.		148,319		305,558
Century Iron & Steel Industrial Co. Ltd.		67,000		266,756
Chang Wah Electromaterials Inc.		134,000		169,731
Chang Wah Technology Co. Ltd.		67,000		217,088
Charoen Pokphand Enterprise		73,000		205,423
Cheng Loong Corp.		268,000		276,421
Cheng Uei Precision Industry Co. Ltd.		134,000		160,427
Chicony Electronics Co. Ltd.		201,000		595,152
Chicony Power Technology Co. Ltd.		67,000		163,191
China General Plastics Corp.		140,700		151,526
China Man-Made Fiber Corp.		557,031		158,698
China Motor Corp.		67,200		143,982
China Petrochemical Development Corp.(a)		1,353,145		516,506
China Steel Chemical Corp.		67,000		294,446
Chin-Poon Industrial Co. Ltd.		134,000		144,685
Chipbond Technology Corp.		252,000		600,505
ChipMOS Technologies Inc.		201,000		334,995
Chong Hong Construction Co. Ltd.		67,424		175,174
Chroma ATE Inc.		134,000		761,942
Chung Hung Steel Corp.		335,000		374,435
Chung Hwa Pulp Corp.(a)		134,000		87,387

10

Consolidated Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets Small-Cap ETF
May 31, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
Taiwan (continued)
Chung-Hsin Electric & Machinery Manufacturing Corp.		134,000	$	236,807
Cleanaway Co. Ltd.		29,000		193,005
Clevo Co.		134,000		158,094
Compeq Manufacturing Co. Ltd.		335,000		542,772
Coretronic Corp.		134,400		258,713
Co-Tech Development Corp.		67,000		133,311
CSBC Corp. Taiwan(a)		201,548		135,719
CTCI Corp.		201,000		322,714
Cub Elecparts Inc.		30,361		155,877
Darfon Electronics Corp.		134,000		200,830
Dynapack International Technology Corp.		67,000		183,442
Elan Microelectronics Corp.		110,000		560,404
Elite Material Co. Ltd.		103,000		819,724
Elite Semiconductor Microelectronics Technology Inc.		91,000		383,521
ENNOSTAR Inc.(a)		215,184		467,522
Episil Technologies Inc(a)		87,425		378,083
Eternal Materials Co. Ltd.		335,399		406,044
Etron Technology Inc.(a)		67,000		159,046
Evergreen International Storage & Transport Corp.		201,000		253,676
Everlight Electronics Co. Ltd.		134,000		205,578
Far Eastern Department Stores Ltd.		469,000		332,227
Far Eastern International Bank		1,024,319		407,803
Faraday Technology Corp.		75,000		613,642
Farglory Land Development Co. Ltd.		67,000		151,034
Feng Hsin Steel Co. Ltd.		187,000		508,114
First Copper Technology Co. Ltd.		67,000		78,040
Fitipower Integrated Technology Inc.		42,512		266,544
FLEXium Interconnect Inc.		134,418		467,259
Formosa Sumco Technology Corp.		25,000		221,458
Formosa Taffeta Co. Ltd.		335,000		312,073
Foxconn Technology Co. Ltd.		268,000		504,145
Foxsemicon Integrated Technology Inc.		29,200		222,242
Fulgent Sun International Holding Co. Ltd.		67,330		352,050
Fusheng Precision Co. Ltd.		54,000		379,563
General Interface Solution Holding Ltd.		67,000		208,724
Genius Electronic Optical Co. Ltd.		27,585		391,121
Getac Holdings Corp.		134,000		209,218
Gigabyte Technology Co. Ltd.		193,000		745,663
Global Mixed Mode Technology Inc.		24,000		182,732
Global Unichip Corp.		31,000		583,605
Gold Circuit Electronics Ltd.		134,000		372,555
Goldsun Building Materials Co. Ltd.		335,426		312,577
Gourmet Master Co. Ltd.		49,821		162,970
Grand Pacific Petrochemical		335,000		281,254
Grape King Bio Ltd.		67,000		327,429
Great Wall Enterprise Co. Ltd.		268,842		456,242
Greatek Electronics Inc.		134,000		330,455
Hannstar Board Corp.		134,481		168,714
HannStar Display Corp.		804,320		343,928
Highwealth Construction Corp.		268,000		428,016
Hiwin Technologies Corp.		67,000		519,380
Holtek Semiconductor Inc.		67,000		229,049
Holy Stone Enterprise Co. Ltd.		67,050		258,313
Hota Industrial Manufacturing Co. Ltd.		67,773		175,470
Hotai Finance Co. Ltd.		67,000		236,380
Hsin Kuang Steel Co. Ltd.		96,000		163,930
HTC Corp.(a)		268,000		458,190
Huaku Development Co. Ltd.		96,080		312,015
IBF Financial Holdings Co. Ltd.		802,478		430,553
International CSRC Investment Holdings Co.		335,945		245,907

Security	Shares		Value
Taiwan (continued)
International Games System Co. Ltd.		21,000	$	541,536
ITE Technology Inc.		67,000		230,773
ITEQ Corp.		76,559		281,597
Jentech Precision Industrial Co. Ltd.		24,000		290,043
Johnson Health Tech Co. Ltd.		87,000		158,170
Kenda Rubber Industrial Co. Ltd.		268,675		286,484
Kindom Development Co. Ltd.		147,400		175,654
King Slide Works Co. Ltd.		14,000		215,492
King Yuan Electronics Co. Ltd.		402,000		631,587
King's Town Bank Co. Ltd.		335,000		413,347
Kinpo Electronics		469,000		220,597
Kinsus Interconnect Technology Corp.		110,000		653,369
KMC Kuei Meng International Inc.		27,000		158,463
Lien Hwa Industrial Holdings Corp.		335,525		664,874
Longchen Paper & Packaging Co. Ltd.		268,357		168,230
Lotes Co. Ltd.		28,392		769,287
Lotus Pharmaceutical Co. Ltd.		48,000		211,203
Lung Yen Life Service Corp.		134,000		218,061
Macronix International Co. Ltd.		670,000		904,544
Makalot Industrial Co. Ltd.		65,391		366,675
Medigen Vaccine Biologics Corp.(a)		54,000		415,814
Mercuries & Associates Holding Ltd.		134,579		90,914
Mercuries Life Insurance Co. Ltd.(a)		490,264		121,338
Merida Industry Co. Ltd.		71,000		633,334
Merry Electronics Co. Ltd.		68,616		193,251
Microbio Co. Ltd.(a)		128,766		260,366
Mitac Holdings Corp.		469,383		451,648
Nan Kang Rubber Tire Co. Ltd.(a)		174,000		245,226
Nantex Industry Co. Ltd.		115,000		202,960
Nuvoton Technology Corp.		67,000		395,585
OBI Pharma Inc.(a)		74,769		283,983
Oneness Biotech Co. Ltd.(a)		67,000		437,433
OptoTech Corp.		59,000		102,246
Oriental Union Chemical Corp.(a)		268,000		180,943
Pan Jit International Inc.		122,000		348,590
Pan-International Industrial Corp.		134,722		178,816
PChome Online Inc.		46,305		117,824
Pharmally International Holding Co. Ltd.(c)		21,603		—
Phison Electronics Corp.		67,000		906,433
Pixart Imaging Inc.		67,635		269,509
Powertech Technology Inc.		268,000		899,644
Poya International Co. Ltd.		17,976		177,392
President Securities Corp.		348,623		224,686
Primax Electronics Ltd.		134,000		283,268
Prince Housing & Development Corp.		536,917		226,831
Qisda Corp.		603,000		603,245
Radiant Opto-Electronics Corp.		134,000		480,206
Raydium Semiconductor Corp.		20,000		350,732
RDC Semiconductor Co. Ltd.(a)		18,000		238,389
Rexon Industrial Corp. Ltd.		172,000		234,436
RichWave Technology Corp.		34,000		252,370
Ruentex Industries Ltd.		173,000		503,148
Run Long Construction Co. Ltd.		62,800		152,105
Sanyang Motor Co. Ltd.		201,820		217,599
ScinoPharm Taiwan Ltd.		134,708		105,983
SDI Corp.		58,000		301,210
Sercomm Corp.		67,000		182,249
Shin Zu Shing Co. Ltd.		67,856		200,836
Shinkong Synthetic Fibers Corp.		469,135		311,710
Sigurd Microelectronics Corp.		134,124		273,743

11

Consolidated Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets Small-Cap ETF
May 31, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
Taiwan (continued)
Simplo Technology Co. Ltd.		67,600	$	697,793
Sinbon Electronics Co. Ltd.		67,000		595,961
Sincere Navigation Corp.		134,000		123,422
Sino-American Silicon Products Inc.		189,000		1,119,092
Sinyi Realty Inc.		134,778		162,677
Sitronix Technology Corp.		47,000		414,129
Solar Applied Materials Technology Corp.		134,943		221,901
Sonix Technology Co. Ltd.		67,000		177,126
Standard Foods Corp.		201,000		328,812
Sunny Friend Environmental Technology Co. Ltd.		20,000		141,870
Sunplus Technology Co. Ltd.		201,000		253,652
Supreme Electronics Co. Ltd.		152,705		250,285
Systex Corp.		67,000		181,745
TA Chen Stainless Pipe		529,235		785,329
Ta Ya Electric Wire & Cable		67,000		60,941
Taichung Commercial Bank Co. Ltd.		1,062,902		509,076
Tainan Spinning Co. Ltd.		402,190		278,541
Taita Chemical Co. Ltd.		73,700		74,577
Taiwan Business Bank		2,078,340		875,871
Taiwan Cogeneration Corp.		221,000		292,910
Taiwan Fertilizer Co. Ltd.		311,000		745,557
Taiwan Glass Industry Corp.		603,000		470,236
Taiwan Hon Chuan Enterprise Co. Ltd.		134,004		343,759
Taiwan Mask Corp.		67,000		215,025
Taiwan Paiho Ltd.		67,050		156,360
Taiwan Secom Co. Ltd.		134,450		508,763
Taiwan Semiconductor Co. Ltd.		67,000		192,320
Taiwan Shin Kong Security Co. Ltd.		201,366		284,286
Taiwan Surface Mounting Technology Corp.		84,000		321,143
Taiwan TEA Corp.(a)		336,000		218,511
Taiwan Union Technology Corp.		67,000		176,710
Tanvex BioPharma Inc.(a)		73,862		139,854
Tatung Co. Ltd.(a)		613,000		742,634
TCI Co. Ltd.		37,528		202,597
Teco Electric and Machinery Co. Ltd.		670,000		711,065
Test Research Inc.		67,000		153,214
Tong Hsing Electronic Industries Ltd.		67,641		592,705
Tong Yang Industry Co. Ltd.		134,133		184,117
Topco Scientific Co. Ltd.		59,000		338,693
TPK Holding Co. Ltd.		134,000		156,908
Transcend Information Inc.		67,000		165,926
Tripod Technology Corp.		134,000		534,848
TSEC Corp.(a)		134,000		170,069
TSRC Corp.		268,000		274,464
TTY Biopharm Co. Ltd.		67,450		159,925
Tung Ho Steel Enterprise Corp.		223,750		487,566
TXC Corp.		134,000		444,040
U-Ming Marine Transport Corp.		154,000		310,215
Union Bank of Taiwan(a)		641,226		326,907
United Integrated Services Co. Ltd.		67,400		417,260
United Renewable Energy Co. Ltd.(a)		570,059		416,407
UPC Technology Corp.		335,741		196,959
UPI Semiconductor Corp.(a)		10,000		210,853
USI Corp.		268,070		234,137
Via Technologies Inc.		67,000		122,574
Visual Photonics Epitaxy Co. Ltd.		67,425		224,066
Wafer Works Corp.		210,918		450,348
Wah Lee Industrial Corp.		68,340		242,576
Walsin Technology Corp.		134,000		529,896
Wisdom Marine Lines Co. Ltd.		156,000		519,634

Security	Shares		Value
Taiwan (continued)
Wistron Corp.		979,000	$	954,117
Wistron NeWeb Corp.		134,481		298,668
WT Microelectronics Co. Ltd.		134,757		346,583
XinTec Inc.		67,000		337,697
Xxentria Technology Materials Corp.		67,000		154,929
YFY Inc.		402,000		396,744
Yieh Phui Enterprise Co. Ltd.(a)		335,797		235,178
Yulon Finance Corp.		74,142		552,971
Yulon Motor Co. Ltd.		335,026		510,640
YungShin Global Holding Corp.		67,200		97,185
				75,984,353
Thailand — 4.1%
AEON Thana Sinsap Thailand PCL, NVDR(d)		33,500		186,775
Amata Corp. PCL, NVDR(d)		576,276		338,090
AP Thailand PCL, NVDR		1,086,600		355,562
Bangchak Corp. PCL, NVDR		509,300		488,861
Bangkok Chain Hospital PCL, NVDR		629,800		373,877
Bangkok Land PCL, NVDR		6,284,600		185,628
Bangkok Life Assurance PCL, NVDR		218,900		249,477
Banpu PCL, NVDR		1,963,100		710,692
Central Plaza Hotel PCL, NVDR(a)		247,900		304,155
CH Karnchang PCL, NVDR(d)		455,700		277,821
Chularat Hospital PCL, NVDR(d)		2,586,200		281,142
CK Power PCL, NVDR(d)		1,125,700		179,071
Com7 PCL, NVDR		463,400		510,572
Dhipaya Group Holdings PCL, NVDR(a)(d)		132,700		255,642
Ditto Thailand PCL, NVS.		13,400		26,236
Eastern Polymer Group PCL, NVDR(d)		489,800		144,266
Esso Thailand PCL, NVDR(a)		623,100		186,818
GFPT PCL, NVDR		542,800		264,665
Gunkul Engineering PCL, NVDR		1,770,199		298,764
Hana Microelectronics PCL, NVDR(d)		274,700		375,608
IRPC PCL, NVDR(d)		4,133,900		416,670
Jasmine International PCL, NVDR(a)		2,304,800		235,543
Jay Mart PCL, NVDR(d)		247,900		439,326
KCE Electronics PCL, NVDR(d)		321,900		619,603
Khon Kaen Sugar Industry PCL, NVDR(d)		1,762,230		199,500
Kiatnakin Phatra Bank PCL, NVDR		120,632		253,695
Major Cineplex Group PCL, NVDR		342,000		213,511
MBK PCL, NVDR(a)		569,500		237,866
Mega Lifesciences PCL, NVDR		174,200		264,815
Ngern Tid Lor PCL, NVDR		443,046		432,903
Plan B Media PCL, NVDR(a)		1,498,780		341,527
Pruksa Holding PCL, NVDR(d)		335,000		131,990
PSG Corp. PCL, NVS(a)		2,472,300		75,860
PTG Energy PCL, NVDR(d)		368,600		157,021
Quality Houses PCL, NVDR		3,236,167		209,813
Sabuy Technology PCL, NVDR		107,200		79,883
Sansiri PCL, NVDR		4,944,600		164,571
Siam Global House PCL, NVDR		1		1
Siamgas & Petrochemicals PCL, NVDR		422,200		144,245
Sino-Thai Engineering & Construction PCL, NVDR(d)		495,828		189,383
Sri Trang Agro-Industry PCL, NVDR		375,280		270,227
Star Petroleum Refining PCL, NVDR		790,600		281,728
Supalai PCL, NVDR		509,300		303,611
Super Energy Corp. PCL, NVDR		7,584,400		188,391
Thai Vegetable Oil PCL, NVDR(d)		234,600		222,808
Thanachart Capital PCL, NVDR		140,700		164,476
Thonburi Healthcare Group PCL, NVDR		190,100		416,284
Thoresen Thai Agencies PCL, NVDR		580,500		170,990

12

Consolidated Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets Small-Cap ETF
May 31, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
Thailand (continued)
Tipco Asphalt PCL, NVDR		355,100	$	174,295
Tisco Financial Group PCL, NVDR		73,700		197,467
TOA Paint Thailand PCL, NVDR		214,400		179,701
TPI Polene Power PCL, NVDR(d)		2,090,400		227,207
TTW PCL, NVDR(d)		790,600		254,138
VGI PCL, NVDR(d)		2,308,150		360,594
WHA Corp. PCL, NVDR		3,618,000		337,903
				14,551,268
Turkey — 1.0%
Aksa Akrilik Kimya Sanayii AS		23,517		83,225
Alarko Holding AS		27,805		50,683
Anadolu Efes Biracilik Ve Malt Sanayii AS		95,006		163,628
Coca-Cola Icecek AS		32,160		255,105
Dogan Sirketler Grubu Holding AS		582,029		141,144
Emlak Konut Gayrimenkul Yatirim Ortakligi AS		1,267,459		222,002
Enerjisa Enerji AS(b)		90,115		81,307
Gubre Fabrikalari TAS(a)(d)		19,669		91,970
Hektas Ticaret TAS(a)		173,061		330,102
Is Gayrimenkul Yatirim Ortakligi AS(a)		98,139		88,248
Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class D(a)		295,046		264,952
Kizilbuk Gayrimenkul Yatirim Ortakligi AS, NVS(a)		10,050		42,888
Koza Altin Isletmeleri AS(a)		14,807		178,347
Koza Anadolu Metal Madencilik Isletmeleri AS(a)		91,924		168,306
Mavi Giyim Sanayi Ve Ticaret AS, Class B(b)		46,766		112,615
Migros Ticaret AS(a)(d)		50,515		136,425
MLP Saglik Hizmetleri AS(a)(b)		49,513		105,920
Nuh Cimento Sanayi AS		23,628		84,834
Otokar Otomotiv Ve Savunma Sanayi AS		4,087		106,964
Oyak Cimento Fabrikalari AS(a)(d)		185,389		138,048
Pegasus Hava Tasimaciligi AS(a)(d)		23,578		204,629
Petkim Petrokimya Holding AS(a)(d)		458,079		276,860
TAV Havalimanlari Holding AS(a)		86,162		238,476
				3,566,678
United Arab Emirates — 0.7%
Agthia Group PJSC.		26,288		35,392
Air Arabia PJSC		1,008,727		551,002
Al Waha Capital PJSC		322,546		131,734
Al Yah Satellite Communications Co.		351,482		252,442
Amanat Holdings PJSC		363,877		102,821
Aramex PJSC		204,314		215,269
Dana Gas PJSC		1,181,813		346,998
Drake & Scull International PJSC(a)(c)		241,185		6,074
Dubai Financial Market PJSC		585,111		342,831
Dubai Investments PJSC		778,308		486,588
Emaar Development PJSC(a)		31,335		37,675
Ras Al Khaimah Ceramics		176,746		142,585
				2,651,411
Total Common Stocks — 99.0%
(Cost: $344,832,705)				355,857,064
Preferred Stocks
Brazil — 0.9%
Alpargatas SA, Preference Shares, NVS		43,148		197,466
Banco ABC Brasil SA, Preference Shares, NVS		32,911		110,868
Banco do Estado do Rio Grande do Sul SA, Class B, Preference Shares, NVS		28,922		62,742
Banco Pan SA, Preference Shares, NVS		157,517		264,487

Security	Shares		Value
Brazil (continued)
Bradespar SA, Preference Shares, NVS		89,914	$	540,708
Cia. de Saneamento do Parana, Preference  Shares, NVS		129,377		108,346
Cia. Paranaense de Energia, Preference Shares, NVS		221,552		343,571
Gol Linhas Aereas Inteligentes SA, Preference Shares, NVS(a)		107,133		327,088
Marcopolo SA, Preference Shares, NVS		216,424		130,695
Metalurgica Gerdau SA, Preference Shares, NVS		288,636		740,334
Randon SA Implementos e Participacoes, Preference Shares, NVS		84,956		182,870
Unipar Carbocloro SA, Class B, Preference Shares, NVS		18,824		398,148
				3,407,323
Chile — 0.1%
Embotelladora Andina SA, Class B, Preference Shares, NVS		120,466		241,231
Total Preferred Stocks — 1.0%
(Cost: $2,824,519)				3,648,554
Rights
Malaysia — 0.1%
Yinson Holdings Bhd (Expires 06/14/22)(a)		198,400		47,578
Saudi Arabia — 0.0%
Saudi Real Estate Co. (Expires 06/09/22)(a)		24,496		24,427
South Korea — 0.0%
Hana Tour Service Inc. (Expires 06/09/22)(a)		476		6,156
Total Rights — 0.1%
(Cost: $22,408)				78,161
Warrants
Thailand — 0.0%
MBK PCL (Expires 03/24/23)(a)		22,780		7,523
VGI PCL (Expires 05/23/27)(a)		532,650		4,825
				12,348
Total Warrants — 0.0%
(Cost: $0)				12,348
Short-Term Securities
Money Market Funds — 6.4%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.87%(f)(g)(h)		23,144,421		23,144,421
Total Short-Term Securities — 6.4%
(Cost: $23,141,732)				23,144,421
Total Investments in Securities — 106.5%
(Cost: $370,821,364)				382,740,548
Liabilities in Excess of Other Assets — (6.5)%				(23,315,494	)
Net Assets — 100.0%			$	359,425,054

^(a) Non-income producing security.

^(b) 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.

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

13

Consolidated Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets Small-Cap ETF
May 31, 2022

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

^(e) Restricted security as to resale, excluding 144A securities. The Fund held restricted securities with a current value of $67,426, representing less than 0.05% of its net assets as of period end, and an original cost of $336,376.

^(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.

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended May 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 08/31/21		Purchases at Cost			Proceeds from Sale			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Value at 05/31/22		Shares Held at 05/31/22		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL Agency Shares	$	20,739,436	$	2,413,891	(a)	$	—		$	(7,725	)	$	(1,181	)	$	23,144,421		23,144,421	$	597,067	(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares(c)		2,250,000		—			(2,250,000	)(a)		—			—			—		—		824			—
									$	(7,725	)	$	(1,181	)	$	23,144,421			$	597,891		$	—

^(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.

^(c) As of period end, the entity is no longer held.

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
MSCI Emerging Markets Index		37	06/17/22	$	1,967	$	947

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

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Consolidated Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets Small-Cap ETF
May 31, 2022

Fair Value Measurements (continued)

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
Common Stocks	$	71,798,407	$	283,449,002	$	609,655	$	355,857,064
Preferred Stocks		3,648,554		—		—		3,648,554
Rights		78,161		—		—		78,161
Warrants		—		12,348		—		12,348
Money Market Funds		23,144,421		—		—		23,144,421
	$	98,669,543	$	283,461,350	$	609,655	$	382,740,548
Derivative financial instruments(a)
Assets
Futures Contracts	$	947	$	—	$	—	$	947

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

Portfolio Abbreviations - Equity
ADR	American Depositary Receipt	PJSC	Public Joint Stock Company
GDR	Global Depositary Receipt	REIT	Real Estate Investment Trust
NVDR	Non-Voting Depositary Receipt
NVS	Non-Voting Shares

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