Schedule of Investments (unaudited)	iShares® MSCI Emerging Markets ex China ETF
November 30, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Brazil — 5.8%
Ambev SA		3,119,399	$	9,569,760
Americanas SA		420,852		856,407
Atacadao SA		384,153		1,182,214
B3 SA - Brasil, Bolsa, Balcao		4,029,749		9,885,382
Banco Bradesco SA		1,068,213		2,832,457
Banco BTG Pactual SA		786,605		3,815,285
Banco do Brasil SA		565,683		3,845,818
Banco Santander Brasil SA		242,116		1,290,514
BB Seguridade Participacoes SA		461,093		2,782,898
BRF SA(a)		398,004		722,479
CCR SA		804,710		1,831,371
Centrais Eletricas Brasileiras SA		751,620		6,879,850
Cia. de Saneamento Basico do Estado de Sao Paulo		227,313		2,640,928
Cia. Siderurgica Nacional SA		443,328		1,240,449
Cosan SA		809,640		2,813,032
CPFL Energia SA		153,876		1,034,864
Energisa SA		131,288		1,095,722
Engie Brasil Energia SA		136,518		1,039,140
Equatorial Energia SA		679,428		3,607,049
Hapvida Participacoes e Investimentos SA(b)		3,090,163		3,096,505
Hypera SA		276,503		2,367,887
JBS SA		510,137		2,167,617
Klabin SA		502,873		1,909,025
Localiza Rent a Car SA		491,657		5,694,082
Localiza Rent a Car SA, NVS(a)		1,208		13,299
Lojas Renner SA		659,788		2,943,354
Magazine Luiza SA(a)		2,037,094		1,338,605
Natura & Co. Holding SA		595,586		1,343,966
Petro Rio SA(a)		474,819		3,298,530
Petroleo Brasileiro SA		2,468,666		14,457,063
Raia Drogasil SA		719,713		3,196,814
Rede D’Or Sao Luiz SA(b)		265,455		1,588,837
Rumo SA		859,274		3,222,267
Sendas Distribuidora SA		498,796		1,927,189
Suzano SA		494,057		5,060,196
Telefonica Brasil SA		329,330		2,414,755
Tim SA		571,360		1,431,331
TOTVS SA		348,105		2,070,109
Ultrapar Participacoes SA		490,923		1,343,349
Vale SA		2,524,113		41,689,561
Vibra Energia SA		779,739		2,483,757
WEG SA		1,111,025		8,349,789
XP Inc.(a)		1		17
				172,373,523
Chile — 0.5%
Banco de Chile		29,952,705		2,833,818
Banco de Credito e Inversiones SA		36,717		994,307
Banco Santander Chile		43,744,088		1,700,640
Cencosud SA		950,000		1,412,465
Cia. Cervecerias Unidas SA		86,918		527,841
Cia. Sud Americana de Vapores SA		10,469,435		853,959
Empresas CMPC SA		729,675		1,208,614
Empresas COPEC SA		260,115		1,818,030
Enel Americas SA		14,278,240		1,892,007
Enel Chile SA		18,627,541		847,219
Falabella SA		504,412		900,635
				14,989,535

Security	Shares		Value
Colombia — 0.1%
Bancolombia SA		171,801	$	1,423,372
Interconexion Electrica SA ESP		309,819		1,251,340
				2,674,712
Czech Republic — 0.2%
CEZ AS(c)		107,231		3,684,883
Komercni Banka AS		50,389		1,496,177
Moneta Money Bank AS(b)		238,228		732,775
				5,913,835
Egypt — 0.1%
Commercial International Bank Egypt SAE		1,582,811		2,594,157
Eastern Co. SAE		601,868		316,269
Egyptian Financial Group-Hermes Holding Co.(a)		407,407		251,634
				3,162,060
Greece — 0.4%
Alpha Services and Holdings SA(a)		1,419,126		1,527,159
Eurobank Ergasias Services and Holdings SA, Class A(a)		1,732,581		1,998,164
Hellenic Telecommunications Organization SA(c)		134,539		2,081,267
JUMBO SA		66,267		1,058,352
Mytilineos SA		65,059		1,227,589
National Bank of Greece SA(a)		347,290		1,428,757
OPAP SA		128,581		1,780,392
Public Power Corp. SA(a)		133,733		929,354
Terna Energy SA		32,598		661,469
				12,692,503
Hungary — 0.3%
MOL Hungarian Oil & Gas PLC		275,590		1,995,107
OTP Bank Nyrt		147,230		4,059,390
Richter Gedeon Nyrt		93,447		2,010,267
				8,064,764
India — 21.4%
ABB India Ltd.		29,599		1,090,641
ACC Ltd.		50,478		1,595,079
Adani Enterprises Ltd.		189,520		9,166,483
Adani Green Energy Ltd.(a)		209,685		5,498,568
Adani Ports & Special Economic Zone Ltd.		349,698		3,804,864
Adani Power Ltd.(a)		504,746		2,072,951
Adani Total Gas Ltd.		182,726		8,225,588
Adani Transmission Ltd.(a)		185,142		6,673,071
Ambuja Cements Ltd.		396,734		2,795,959
Apollo Hospitals Enterprise Ltd.		66,832		3,899,608
Asian Paints Ltd.		253,477		9,894,062
AU Small Finance Bank Ltd.(b)		114,945		910,796
Aurobindo Pharma Ltd.		175,062		1,011,394
Avenue Supermarts Ltd.(a)(b)		107,284		5,338,597
Axis Bank Ltd.		1,501,761		16,693,889
Bajaj Auto Ltd.		45,427		2,095,653
Bajaj Finance Ltd.		179,990		14,962,039
Bajaj Finserv Ltd.		253,018		5,098,256
Bajaj Holdings & Investment Ltd.		12,553		970,336
Balkrishna Industries Ltd.		53,734		1,353,377
Bandhan Bank Ltd.(a)(b)		399,184		1,172,823
Berger Paints India Ltd.		162,544		1,245,104
Bharat Electronics Ltd.		2,436,387		3,164,203
Bharat Forge Ltd.		176,120		1,867,804
Bharat Petroleum Corp. Ltd.		576,717		2,424,093
Bharti Airtel Ltd.		1,463,469		15,293,658
Biocon Ltd.		283,293		986,950
Britannia Industries Ltd.		72,296		3,880,828

1

Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets ex China ETF
November 30, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
India (continued)
Cholamandalam Investment and Finance Co. Ltd.		278,006	$	2,453,631
Cipla Ltd.		321,583		4,524,243
Coal India Ltd.		1,041,251		2,934,140
Colgate-Palmolive India Ltd.		79,548		1,595,442
Container Corp. of India Ltd.		188,819		1,800,394
Dabur India Ltd.		418,458		3,035,247
Divi’s Laboratories Ltd.		87,722		3,686,038
DLF Ltd.		418,175		2,079,884
Dr. Reddy’s Laboratories Ltd.		77,179		4,268,148
Eicher Motors Ltd.		90,950		3,900,779
GAIL India Ltd.		1,500,671		1,759,197
Godrej Consumer Products Ltd.(a)		273,289		2,970,654
Godrej Properties Ltd.(a)		80,783		1,305,495
Grasim Industries Ltd.		176,907		3,829,579
Havells India Ltd.		169,174		2,614,901
HCL Technologies Ltd.		717,706		9,962,170
HDFC Life Insurance Co. Ltd.(b)		640,728		4,661,653
Hero MotoCorp Ltd.		71,818		2,526,268
Hindalco Industries Ltd.		890,137		4,993,734
Hindustan Petroleum Corp. Ltd.		410,171		1,210,499
Hindustan Unilever Ltd.		544,054		17,973,924
Housing Development Finance Corp. Ltd.		1,138,782		37,853,086
ICICI Bank Ltd.		3,404,393		39,887,949
ICICI Lombard General Insurance Co. Ltd.(b)		159,708		2,384,847
ICICI Prudential Life Insurance Co. Ltd.(b)		229,233		1,344,655
Indian Hotels Co. Ltd. (The)		507,578		2,004,789
Indian Oil Corp. Ltd.		1,898,725		1,796,651
Indian Railway Catering & Tourism Corp. Ltd.		153,235		1,391,230
Indraprastha Gas Ltd.		202,110		1,099,857
Indus Towers Ltd.		432,617		1,068,120
Info Edge India Ltd.		46,165		2,288,383
Infosys Ltd.		2,223,872		45,202,222
InterGlobe Aviation Ltd.(a)(b)		65,185		1,554,875
ITC Ltd.		1,965,428		8,233,428
Jindal Steel & Power Ltd.		274,055		1,821,633
JSW Steel Ltd.		477,914		4,389,409
Jubilant Foodworks Ltd.		257,956		1,746,918
Kotak Mahindra Bank Ltd.		367,370		8,810,065
Larsen & Toubro Infotech Ltd.(b)		31,529		1,896,472
Larsen & Toubro Infotech Ltd., NVS		26,990		1,603,633
Larsen & Toubro Ltd.		455,161		11,632,893
Lupin Ltd.		128,882		1,215,435
Mahindra & Mahindra Ltd.		578,486		9,306,041
Marico Ltd.		350,251		2,186,317
Maruti Suzuki India Ltd.		80,327		8,881,779
Mphasis Ltd.		56,713		1,421,358
MRF Ltd.		1,217		1,403,989
Muthoot Finance Ltd.		80,350		1,070,790
Nestle India Ltd.		22,631		5,619,553
NTPC Ltd.		2,576,388		5,458,944
Oil & Natural Gas Corp. Ltd.		1,652,377		2,895,229
Page Industries Ltd.		4,075		2,381,287
Petronet LNG Ltd.		502,941		1,319,103
PI Industries Ltd.		49,606		2,140,997
Pidilite Industries Ltd.		102,718		3,477,655
Power Grid Corp. of India Ltd.		2,080,988		5,741,678
Reliance Industries Ltd.		2,011,754		67,670,376
Samvardhana Motherson International Ltd.		1,369,000		1,267,718
SBI Cards & Payment Services Ltd.		153,120		1,557,785
SBI Life Insurance Co. Ltd.(b)		299,800		4,729,485

Security	Shares		Value
India (continued)
Shree Cement Ltd.		7,300	$	2,149,793
Shriram Transport Finance Co. Ltd.		162,226		2,700,250
Siemens Ltd.		47,946		1,639,905
SRF Ltd.		100,301		2,929,342
State Bank of India		1,181,138		8,779,096
Sun Pharmaceutical Industries Ltd.		636,750		8,210,946
Tata Consultancy Services Ltd.		604,625		25,391,515
Tata Consumer Products Ltd.		373,135		3,758,692
Tata Elxsi Ltd.		22,873		1,994,154
Tata Motors Ltd.(a)		1,098,297		5,987,850
Tata Power Co. Ltd. (The)		956,872		2,658,392
Tata Steel Ltd.		4,826,264		6,460,196
Tech Mahindra Ltd.		385,315		5,141,975
Titan Co. Ltd.		235,873		7,741,208
Torrent Pharmaceuticals Ltd.		67,838		1,385,874
Trent Ltd.		122,498		2,225,895
Tube Investments of India Ltd.		58,102		1,977,264
TVS Motor Co. Ltd.		126,803		1,632,057
UltraTech Cement Ltd.		66,856		5,826,628
United Spirits Ltd.(a)		188,963		2,174,186
UPL Ltd.		324,216		3,158,838
Varun Beverages Ltd.		106,535		1,634,924
Vedanta Ltd.		480,979		1,818,318
Wipro Ltd.		903,682		4,577,794
Yes Bank Ltd.(a)		7,586,571		1,603,812
Zomato Ltd.(a)		1,924,850		1,567,719
				640,155,951
Indonesia — 2.8%
Adaro Energy Indonesia Tbk PT		9,647,900		2,387,579
Aneka Tambang Tbk		5,478,900		697,763
Astra International Tbk PT		13,378,500		5,176,127
Bank Central Asia Tbk PT		36,526,300		21,699,491
Bank Jago Tbk PT(a)		2,818,100		827,447
Bank Mandiri Persero Tbk PT		12,302,800		8,298,994
Bank Negara Indonesia Persero Tbk PT		4,893,100		3,099,732
Bank Rakyat Indonesia Persero Tbk PT		44,858,471		14,270,055
Barito Pacific Tbk PT		18,994,000		956,981
Charoen Pokphand Indonesia Tbk PT		4,883,600		1,772,566
Gudang Garam Tbk PT		9,300		11,794
Indah Kiat Pulp & Paper Tbk PT		1,805,400		1,154,052
Indofood CBP Sukses Makmur Tbk PT		1,600,000		1,027,217
Indofood Sukses Makmur Tbk PT		2,924,100		1,200,722
Kalbe Farma Tbk PT		14,047,800		1,854,298
Merdeka Copper Gold Tbk PT(a)		8,095,259		2,154,861
Sarana Menara Nusantara Tbk PT		14,108,600		1,016,906
Semen Indonesia Persero Tbk PT		1,972,100		957,154
Sumber Alfaria Trijaya Tbk PT		11,163,400		2,201,037
Telkom Indonesia Persero Tbk PT		32,632,800		8,418,438
Unilever Indonesia Tbk PT		5,103,100		1,559,753
United Tractors Tbk PT		1,116,500		2,196,090
Vale Indonesia Tbk PT(a)		1,688,300		799,801
				83,738,858
Kuwait — 1.4%
Agility Public Warehousing Co. KSC		979,069		2,528,223
Boubyan Bank KSCP		865,616		2,381,950
Gulf Bank KSCP		1,067,248		1,180,727
Kuwait Finance House KSCP		4,883,453		13,844,788
Mabanee Co. KPSC		406,398		1,170,696
Mobile Telecommunications Co. KSCP		1,448,315		2,772,188

2

Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets ex China ETF
November 30, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
Kuwait (continued)
National Bank of Kuwait SAKP		4,754,704	$	17,396,604
				41,275,176
Malaysia — 2.2%
AMMB Holdings Bhd		1,243,700		1,170,733
Axiata Group Bhd		1,891,200		1,389,394
CIMB Group Holdings Bhd		4,489,900		5,872,760
Dialog Group Bhd		2,454,900		1,260,970
DiGi.Com Bhd		2,090,900		1,887,759
Genting Bhd		1,407,400		1,408,940
Genting Malaysia Bhd		2,002,900		1,208,324
HAP Seng Consolidated Bhd		410,700		614,076
Hartalega Holdings Bhd		1,179,100		461,242
Hong Leong Bank Bhd(c)		429,700		2,019,501
Hong Leong Financial Group Bhd		144,500		602,974
IHH Healthcare Bhd		1,193,100		1,560,737
Inari Amertron Bhd		1,825,400		1,109,155
IOI Corp. Bhd		1,811,600		1,561,515
Kuala Lumpur Kepong Bhd		288,000		1,355,662
Malayan Banking Bhd		3,133,400		6,090,381
Malaysia Airports Holdings Bhd(a)		443,544		643,266
Maxis Bhd(c)		1,615,900		1,400,424
MISC Bhd		918,800		1,492,306
MR DIY Group M Bhd(b)		1,609,150		762,588
Nestle Malaysia Bhd(c)		36,800		1,149,302
Petronas Chemicals Group Bhd		1,586,200		3,056,702
Petronas Dagangan Bhd		187,700		1,003,599
Petronas Gas Bhd		534,200		2,017,889
PPB Group Bhd		434,340		1,683,541
Press Metal Aluminium Holdings Bhd		2,466,300		2,709,806
Public Bank Bhd(c)		9,595,500		9,731,457
QL Resources Bhd		678,300		849,495
RHB Bank Bhd(c)		957,200		1,212,527
Sime Darby Bhd		1,878,700		911,374
Sime Darby Plantation Bhd		1,414,600		1,356,882
Telekom Malaysia Bhd		794,400		1,004,129
Tenaga Nasional Bhd		1,692,600		3,590,023
Top Glove Corp. Bhd(c)		3,499,300		688,841
				64,838,274
Mexico — 3.5%
Alfa SAB de CV, Class A		1,919,900		1,330,417
America Movil SAB de CV, Series L, NVS		18,288,500		17,791,808
Arca Continental SAB de CV		293,300		2,447,764
Banco del Bajio SA(b)		454,500		1,517,042
Cemex SAB de CV, NVS(a)		9,972,800		4,574,442
Coca-Cola Femsa SAB de CV		346,900		2,365,587
Fibra Uno Administracion SA de CV		2,028,500		2,520,117
Fomento Economico Mexicano SAB de CV		1,283,000		10,223,304
Gruma SAB de CV, Class B		136,315		1,701,500
Grupo Aeroportuario del Pacifico SAB de CV, Class B		236,200		3,811,715
Grupo Aeroportuario del Sureste SAB de CV, Class B		130,045		3,217,289
Grupo Bimbo SAB de CV, Series A(c)		894,900		3,800,565
Grupo Carso SAB de CV, Series A1		306,500		1,323,761
Grupo Financiero Banorte SAB de CV, Class O		1,712,600		13,696,184
Grupo Financiero Inbursa SAB de CV, Class O(a)		1,457,000		2,705,728
Grupo Mexico SAB de CV, Series B		2,049,300		8,356,946
Grupo Televisa SAB, CPO		1,584,600		1,740,317
Industrias Penoles SAB de CV		93,870		1,261,947
Kimberly-Clark de Mexico SAB de CV, Class A		1,024,000		1,740,811

Security	Shares		Value
Mexico (continued)
Operadora De Sites Mexicanos SAB de CV		882,700	$	968,069
Orbia Advance Corp. SAB de CV		661,600		1,293,779
Promotora y Operadora de Infraestructura SAB de CV		154,200		1,360,579
Wal-Mart de Mexico SAB de CV		3,456,500		13,744,308
				103,493,979
Netherlands — 0.1%
NEPI Rockcastle NV		294,156		1,739,879
Pepco Group NV(a)(b)		62,225		569,930
				2,309,809
Peru — 0.4%
Cia. de Minas Buenaventura SAA, ADR		144,175		1,176,468
Credicorp Ltd.		47,571		7,304,527
Southern Copper Corp.(c)		57,318		3,497,544
				11,978,539
Philippines — 1.1%
Aboitiz Equity Ventures Inc.		1,110,920		1,183,691
ACEN Corp.		5,992,220		756,253
Ayala Corp.		162,840		2,021,959
Ayala Land Inc.		4,841,400		2,737,993
Bank of the Philippine Islands		1,198,620		2,252,008
BDO Unibank Inc.		1,295,060		2,997,439
Globe Telecom Inc.		17,989		734,225
GT Capital Holdings Inc.		1,430		11,145
International Container Terminal Services Inc.		677,430		2,466,523
JG Summit Holdings Inc.		2,090,320		1,834,557
Jollibee Foods Corp.		309,180		1,344,500
Manila Electric Co.		140,380		696,144
Metro Pacific Investments Corp.		15,000		918
Metropolitan Bank & Trust Co.		1,282,427		1,306,772
Monde Nissin Corp.(b)		4,220,200		945,097
PLDT Inc.		57,550		1,789,303
SM Investments Corp.		157,875		2,636,500
SM Prime Holdings Inc.		7,665,000		4,968,842
Universal Robina Corp.		559,090		1,317,175
				32,001,044
Poland — 0.9%
Allegro.eu SA (a)(b)(c)		245,135		1,253,640
Bank Polska Kasa Opieki SA		120,991		2,314,336
CD Projekt SA		43,726		1,302,911
Cyfrowy Polsat SA		173,236		726,332
Dino Polska SA(a)(b)		32,878		2,702,193
KGHM Polska Miedz SA		93,707		2,480,577
LPP SA		708		1,534,727
mBank SA(a)		10,049		721,461
PGE Polska Grupa Energetyczna SA(a)		613,832		897,350
Polski Koncern Naftowy ORLEN SA		414,635		6,103,094
Powszechna Kasa Oszczednosci Bank Polski SA		583,412		3,764,861
Powszechny Zaklad Ubezpieczen SA		404,155		2,893,224
Santander Bank Polska SA		24,372		1,518,760
				28,213,466
Qatar — 1.5%
Barwa Real Estate Co.		1,213,504		1,094,890
Commercial Bank PSQC (The)		2,147,368		3,486,475
Industries Qatar QSC		1,015,611		4,138,922
Masraf Al Rayan QSC		3,721,319		3,601,180
Mesaieed Petrochemical Holding Co.		3,043,685		1,943,184
Ooredoo QPSC		531,437		1,282,567
Qatar Electricity & Water Co. QSC		318,936		1,467,080

3

Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets ex China ETF
November 30, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
Qatar (continued)
Qatar Fuel QSC		260,481	$	1,286,468
Qatar Gas Transport Co. Ltd.		1,658,582		1,798,487
Qatar International Islamic Bank QSC		557,814		1,672,956
Qatar Islamic Bank SAQ		1,102,153		7,319,721
Qatar National Bank QPSC		3,072,023		16,453,259
				45,545,189
Russia — 0.0%
Alrosa PJSC(d)		1,271,273		208
Gazprom PJSC(d)		5,613,440		920
Inter RAO UES PJSC(d)		19,580,300		3,209
LUKOIL PJSC(d)		197,285		32
Magnit PJSC(d)		26,665		4
Magnit PJSC, GDR(d)		1		—
MMC Norilsk Nickel PJSC(d)		29,789		5
Mobile TeleSystems PJSC(d)		418,880		69
Moscow Exchange MICEX-RTS PJSC(a)(d)		631,870		104
Novatek PJSC(d)		433,150		71
Novolipetsk Steel PJSC(d)		785,210		129
Ozon Holdings PLC, GDR(a)(d)		534		—
PhosAgro PJSC(d)		22,411		4
PhosAgro PJSC, GDR(d)(e)		1		—
PhosAgro PJSC, New(d)		433		4
Polymetal International PLC(a)(d)		137,561		23
Polyus PJSC(a)(d)		13,397		2
Rosneft Oil Co. PJSC(d)		532,936		87
Sberbank of Russia PJSC(a)(d)		4,933,827		808
Severstal PAO(d)		109,143		18
Surgutneftegas PJSC(d)		3,671,000		602
Tatneft PJSC(d)		685,605		112
TCS Group Holding PLC, GDR(a)(d)(e)		58,085		10
United Co. RUSAL International PJSC(a)(d)		1,500,930		246
VK Co. Ltd.(a)(d)		873		—
VTB Bank PJSC(a)(d)		1,160,968,000		190
X5 Retail Group NV, GDR(d)		67,732		11
Yandex NV(a)(d)		149,219		24
				6,892
Saudi Arabia — 6.2%
ACWA Power Co.		53,395		2,007,939
Advanced Petrochemical Co.		85,036		947,437
Al Rajhi Bank(a)		1,294,628		27,876,577
Alinma Bank		648,774		6,005,549
Almarai Co. JSC		166,324		2,369,310
AngloGold Ashanti Ltd.		276,109		5,039,743
Arab National Bank		399,589		3,694,612
Arabian Internet & Communications Services Co.		11,723		769,008
Bank AlBilad(a)		327,207		4,534,112
Bank Al-Jazira		266,831		1,513,078
Banque Saudi Fransi		393,593		4,512,186
Bupa Arabia for Cooperative Insurance Co.		40,065		1,898,903
Dallah Healthcare Co.		9,089		419,725
Dar Al Arkan Real Estate Development Co.(a)		358,025		1,321,916
Dr Sulaiman Al Habib Medical Services Group Co.		58,570		3,629,550
Elm Co.		16,043		1,417,163
Emaar Economic City(a)		273,614		625,706
Etihad Etisalat Co.		252,007		2,458,073
Jarir Marketing Co.		40,122		1,771,099
Mobile Telecommunications Co.(a)		289,051		862,714
Mouwasat Medical Services Co.		32,699		1,653,378
Nahdi Medical Co.		19,161		968,435
National Industrialization Co.(a)		217,449		647,260

Security	Shares		Value
Saudi Arabia (continued)
Rabigh Refining & Petrochemical Co.(a)		280,298	$	768,304
Reinet Investments SCA		90,954		1,605,668
Riyad Bank		897,461		8,312,305
SABIC Agri-Nutrients Co.		142,030		5,498,794
Sahara International Petrochemical Co.		238,712		2,312,333
Saudi Arabian Mining Co.(a)		570,573		10,525,084
Saudi Arabian Oil Co.(b)		1,604,560		14,353,806
Saudi Basic Industries Corp.		593,271		13,212,111
Saudi British Bank (The)		614,203		6,724,272
Saudi Electricity Co.		558,146		3,701,046
Saudi Industrial Investment Group		247,942		1,359,959
Saudi Investment Bank (The)		325,960		1,636,965
Saudi Kayan Petrochemical Co.(a)		487,500		1,526,174
Saudi National Bank (The)		1,451,246		19,982,056
Saudi Research & Media Group(a)		24,353		1,246,390
Saudi Tadawul Group Holding Co.		32,017		1,478,132
Saudi Telecom Co.		993,525		10,213,418
Savola Group (The)		175,993		1,346,886
Yanbu National Petrochemical Co.		168,934		1,899,429
				184,646,605
South Africa — 5.0%
Absa Group Ltd.		559,099		6,704,279
African Rainbow Minerals Ltd.		76,241		1,279,737
Anglo American Platinum Ltd.		34,959		3,533,467
Aspen Pharmacare Holdings Ltd.		250,345		2,077,470
Bid Corp. Ltd.		222,322		4,292,949
Bidvest Group Ltd. (The)		192,925		2,593,118
Capitec Bank Holdings Ltd.		57,494		6,825,978
Clicks Group Ltd.		163,205		2,786,319
Discovery Ltd.(a)		328,655		2,418,534
Exxaro Resources Ltd.		163,023		2,131,380
FirstRand Ltd.		3,331,392		12,947,367
Foschini Group Ltd. (The)		222,140		1,354,265
Gold Fields Ltd.		588,541		6,535,113
Growthpoint Properties Ltd.		2,223,981		1,827,905
Harmony Gold Mining Co. Ltd.		367,512		1,330,629
Impala Platinum Holdings Ltd.		561,150		6,819,982
Kumba Iron Ore Ltd.		43,271		1,222,457
Mr. Price Group Ltd.		170,020		1,661,739
MTN Group Ltd.		1,118,681		9,167,201
MultiChoice Group		247,988		1,706,659
Naspers Ltd., Class N		143,787		22,037,386
Nedbank Group Ltd.		302,579		4,000,609
Northam Platinum Holdings Ltd.(a)		226,092		2,567,809
Old Mutual Ltd.		3,122,815		2,006,014
Pepkor Holdings Ltd.(b)		1,098,850		1,400,522
Remgro Ltd.		344,364		2,839,400
Sanlam Ltd.		1,170,406		3,843,080
Sasol Ltd.		374,060		6,503,393
Shoprite Holdings Ltd.		334,055		4,917,148
Sibanye Stillwater Ltd.		1,860,113		5,175,611
SPAR Group Ltd. (The)		131,536		1,013,877
Standard Bank Group Ltd.		885,019		9,313,924
Vodacom Group Ltd.		422,829		3,077,563
Woolworths Holdings Ltd.		649,521		2,473,337
				150,386,221
South Korea — 16.2%
Alteogen Inc.(a)		1,993		56,681
Amorepacific Corp.		19,668		1,980,028
AMOREPACIFIC Group		5,666		137,727

4

Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets ex China ETF
November 30, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
South Korea (continued)
BGF retail Co. Ltd.		5,358	$	840,871
Celltrion Healthcare Co. Ltd.		57,466		2,884,484
Celltrion Inc.		65,041		8,817,268
Celltrion Pharm Inc.(a)		11,791		605,079
Cheil Worldwide Inc.		47,940		889,179
CJ CheilJedang Corp.		5,519		1,664,642
CJ Corp.		10,233		601,359
CJ ENM Co. Ltd.		1,059		68,371
CJ Logistics Corp.(a)		1,031		69,950
Coway Co. Ltd.		36,926		1,625,733
DB Insurance Co. Ltd.		30,470		1,448,290
Doosan Bobcat Inc.		33,916		928,348
Doosan Enerbility Co. Ltd.(a)		271,686		3,520,434
Ecopro BM Co. Ltd.(c)		32,043		2,839,305
E-MART Inc.		13,761		973,399
F&F Co. Ltd./New		11,860		1,384,583
GS Engineering & Construction Corp.		1,093		19,768
GS Holdings Corp.		30,460		1,132,168
Hana Financial Group Inc.		194,422		6,649,630
Hankook Tire & Technology Co. Ltd.		48,446		1,265,263
Hanmi Pharm Co. Ltd.		4,408		881,324
Hanon Systems		119,564		800,169
Hanwha Solutions Corp.(a)		76,098		3,012,114
HD Hyundai Co. Ltd.		30,826		1,524,190
HLB Inc.(a)		65,305		1,644,342
HMM Co. Ltd.		178,148		3,070,219
Hotel Shilla Co. Ltd.		20,853		1,171,855
HYBE Co. Ltd.(a)		12,357		1,370,229
Hyundai Engineering & Construction Co. Ltd.		50,861		1,607,686
Hyundai Glovis Co. Ltd.		12,593		1,708,353
Hyundai Heavy Industries Co. Ltd.(a)(c)		11,283		1,033,540
Hyundai Mipo Dockyard Co. Ltd.(a)		14,833		972,859
Hyundai Mobis Co. Ltd.		40,719		6,664,825
Hyundai Motor Co.		91,316		11,896,718
Hyundai Steel Co.		58,157		1,521,668
Iljin Materials Co. Ltd.		15,892		762,147
Industrial Bank of Korea		169,125		1,447,652
Kakao Corp.		205,873		9,032,968
Kakao Games Corp.(a)(c)		23,821		807,249
KakaoBank Corp.(a)(c)		88,684		1,720,549
Kangwon Land Inc.(a)		64,289		1,235,449
KB Financial Group Inc.		256,118		10,169,864
Kia Corp.		174,081		9,167,784
Korea Aerospace Industries Ltd.		47,865		1,777,579
Korea Electric Power Corp.(a)		169,795		2,692,151
Korea Investment Holdings Co. Ltd.		26,860		1,193,976
Korea Shipbuilding & Offshore Engineering Co. Ltd.(a)		28,329		1,705,522
Korea Zinc Co. Ltd.		5,924		2,863,951
Korean Air Lines Co. Ltd.(a)		117,626		2,307,699
Krafton Inc.(a)(c)		18,239		3,210,204
KT&G Corp.		72,869		5,529,233
Kumho Petrochemical Co. Ltd.		11,713		1,347,328
L&F Co. Ltd.(a)(c)		15,406		2,656,541
LG Chem Ltd.		32,686		18,658,201
LG Corp.		62,595		4,036,782
LG Display Co. Ltd.		156,686		1,748,611
LG Electronics Inc.		70,149		5,293,415
LG Energy Solution(a)		20,266		9,167,674
LG H&H Co. Ltd.		6,193		3,125,231

Security	Shares		Value
South Korea (continued)
LG Innotek Co. Ltd.		9,562	$	2,305,375
LG Uplus Corp.		143,293		1,324,638
Lotte Chemical Corp.		11,399		1,609,219
Lotte Shopping Co. Ltd.		7,863		511,049
Meritz Fire & Marine Insurance Co. Ltd.		22,177		783,807
Meritz Securities Co. Ltd.		182,362		820,296
Mirae Asset Securities Co. Ltd.(c)		179,551		916,379
NAVER Corp.		86,619		12,591,249
NCSoft Corp.		10,882		3,942,073
Netmarble Corp.(b)		14,959		562,538
NH Investment & Securities Co. Ltd.		103,844		766,421
Orion Corp./Republic of Korea		15,566		1,397,789
Pan Ocean Co. Ltd.		185,804		772,942
Pearl Abyss Corp.(a)(c)		19,891		669,942
POSCO Chemical Co. Ltd.		18,003		3,040,853
POSCO Holdings Inc.		51,725		11,839,858
S-1 Corp.		11,949		584,450
Samsung Biologics Co. Ltd.(a)(b)		11,785		8,015,427
Samsung C&T Corp.		55,700		5,225,092
Samsung Electro-Mechanics Co. Ltd.		37,059		4,056,767
Samsung Electronics Co. Ltd.		3,150,675		151,386,631
Samsung Engineering Co. Ltd.(a)		103,153		1,950,222
Samsung Fire & Marine Insurance Co. Ltd.		20,241		3,177,047
Samsung Heavy Industries Co. Ltd.(a)		413,325		1,653,609
Samsung Life Insurance Co. Ltd.		52,896		2,969,480
Samsung SDI Co. Ltd.		36,343		20,516,640
Samsung SDS Co. Ltd.		23,491		2,295,357
Samsung Securities Co. Ltd.		41,058		1,111,120
SD Biosensor Inc.		24,962		631,533
Seegene Inc.		9,228		216,005
Shinhan Financial Group Co. Ltd.		304,514		8,827,897
SK Biopharmaceuticals Co. Ltd.(a)		21,020		1,188,085
SK Bioscience Co. Ltd.(a)(c)		15,163		969,863
SK Chemicals Co. Ltd.		163		11,129
SK Hynix Inc.		360,474		23,791,279
SK IE Technology Co. Ltd.(a)(b)		17,085		874,554
SK Inc.		24,476		4,131,182
SK Innovation Co. Ltd.(a)		36,732		5,082,252
SK Square Co. Ltd.(a)		66,827		1,936,153
SKC Co. Ltd.		13,843		1,200,705
S-Oil Corp.		30,329		2,008,022
Woori Financial Group Inc.		359,693		3,593,310
Yuhan Corp.		33,347		1,490,593
				483,689,243
Taiwan — 20.6%
Accton Technology Corp.		336,000		2,989,817
Acer Inc.		1,890,000		1,516,834
Advantech Co. Ltd.		281,299		3,062,033
Airtac International Group		93,439		2,898,254
ASE Technology Holding Co. Ltd.		2,164,000		6,921,009
Asia Cement Corp.		1,538,000		2,066,632
Asustek Computer Inc.		463,000		4,024,442
AUO Corp.		4,330,800		2,284,711
Catcher Technology Co. Ltd.		432,000		2,576,895
Cathay Financial Holding Co. Ltd.		5,176,063		7,365,838
Chailease Holding Co. Ltd.		930,035		6,138,587
Chang Hwa Commercial Bank Ltd.		3,188,153		1,815,589
Cheng Shin Rubber Industry Co. Ltd.		1,196,000		1,362,817
China Airlines Ltd.		1,861,000		1,110,496
China Development Financial Holding Corp.		10,280,920		4,488,551

5

Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets ex China ETF
November 30, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
Taiwan (continued)
China Steel Corp.		7,781,000	$	7,386,381
Chunghwa Telecom Co. Ltd.		2,515,000		9,257,489
Compal Electronics Inc.		2,822,000		1,987,245
CTBC Financial Holding Co. Ltd.		11,598,000		8,712,396
Delta Electronics Inc.		1,291,000		12,766,325
E Ink Holdings Inc.		571,000		3,423,787
E.Sun Financial Holding Co. Ltd.		8,514,855		6,879,223
Eclat Textile Co. Ltd.		128,000		1,923,243
eMemory Technology Inc.		43,000		2,098,571
Eva Airways Corp.		1,607,000		1,482,355
Evergreen Marine Corp. Taiwan Ltd.		664,400		3,566,997
Far Eastern New Century Corp.		2,114,000		2,237,493
Far EasTone Telecommunications Co. Ltd.		1,033,000		2,280,944
Feng TAY Enterprise Co. Ltd.		294,000		1,796,588
First Financial Holding Co. Ltd.		7,044,466		6,013,007
Formosa Chemicals & Fibre Corp.		2,334,000		5,778,688
Formosa Petrochemical Corp.		731,000		2,014,299
Formosa Plastics Corp.		2,729,000		8,004,438
Fubon Financial Holding Co. Ltd.		4,908,441		9,749,237
Giant Manufacturing Co. Ltd.		207,620		1,559,979
Globalwafers Co. Ltd.		146,000		2,267,314
Hon Hai Precision Industry Co. Ltd.		8,247,200		27,003,693
Hotai Motor Co. Ltd.		200,600		4,256,248
Hua Nan Financial Holdings Co. Ltd.		5,974,078		4,423,924
Innolux Corp.		6,011,045		2,448,800
Inventec Corp.		1,766,000		1,425,071
Largan Precision Co. Ltd.		66,000		4,972,816
Lite-On Technology Corp.		1,314,000		2,804,271
MediaTek Inc.		1,003,000		24,236,292
Mega Financial Holding Co. Ltd.		7,362,825		7,668,081
Micro-Star International Co. Ltd.		451,000		1,817,570
momo.com Inc.		44,200		871,994
Nan Ya Plastics Corp.		3,132,000		7,833,654
Nan Ya Printed Circuit Board Corp.		141,000		1,262,597
Nanya Technology Corp.		796,000		1,485,433
Nien Made Enterprise Co. Ltd.		110,000		1,044,271
Novatek Microelectronics Corp.		382,000		3,742,940
Parade Technologies Ltd.		48,000		1,259,719
Pegatron Corp.		1,301,000		2,626,420
PharmaEssentia Corp.(a)		75,000		1,286,179
Pou Chen Corp.		1,389,000		1,462,961
Powerchip Semiconductor Manufacturing Corp.		1,922,000		2,107,736
President Chain Store Corp.		381,000		3,368,266
Quanta Computer Inc.		1,786,000		4,162,693
Realtek Semiconductor Corp.		305,000		3,170,763
Ruentex Development Co. Ltd.		1,159,600		1,750,452
Shanghai Commercial & Savings Bank Ltd. (The)		2,393,437		3,954,984
Shin Kong Financial Holding Co. Ltd.		8,713,897		2,531,261
Silergy Corp.		213,000		3,195,629
SinoPac Financial Holdings Co. Ltd.		6,956,401		4,124,196
Synnex Technology International Corp.		869,000		1,652,518
Taishin Financial Holding Co. Ltd.		7,216,981		3,569,714
Taiwan Business Bank		3,224,000		1,366,566
Taiwan Cement Corp.		4,021,671		4,433,272
Taiwan Cooperative Financial Holding Co. Ltd.		6,537,535		5,676,738
Taiwan High Speed Rail Corp.		1,260,000		1,184,876
Taiwan Mobile Co. Ltd.		1,148,000		3,555,869
Taiwan Semiconductor Manufacturing Co. Ltd.		16,265,000		261,213,442
Unimicron Technology Corp.		819,000		4,216,167
Uni-President Enterprises Corp.		3,198,000		6,863,908

Security	Shares		Value
Taiwan (continued)
United Microelectronics Corp.		7,833,000	$	11,799,114
Vanguard International Semiconductor Corp.		596,000		1,618,506
Voltronic Power Technology Corp.		44,000		2,497,191
Walsin Lihwa Corp.		1,714,473		2,637,655
Wan Hai Lines Ltd.		438,015		1,096,716
Win Semiconductors Corp.		226,000		1,164,387
Winbond Electronics Corp.		1,956,000		1,365,456
Wiwynn Corp.		58,000		1,673,760
WPG Holdings Ltd.		1,064,520		1,680,424
Yageo Corp.		230,858		3,509,833
Yang Ming Marine Transport Corp.		1,126,000		2,449,741
Yuanta Financial Holding Co. Ltd.		6,658,229		4,899,040
Zhen Ding Technology Holding Ltd.		425,000		1,664,498
				615,896,809
Thailand — 3.0%
Advanced Info Service PCL, NVDR		771,900		4,148,823
Airports of Thailand PCL, NVDR(a)		2,794,300		5,967,720
Asset World Corp. PCL, NVDR		5,600,800		1,008,746
B Grimm Power PCL, NVDR(c)		622,000		666,866
Bangkok Dusit Medical Services PCL, NVDR		6,904,800		5,948,261
Bangkok Expressway & Metro PCL, NVDR		5,014,300		1,334,088
Berli Jucker PCL, NVDR		845,400		826,303
BTS Group Holdings PCL, NVDR		5,223,700		1,249,683
Bumrungrad Hospital PCL, NVDR		398,900		2,580,251
Carabao Group PCL, NVDR		196,700		535,192
Central Pattana PCL, NVDR		1,324,900		2,740,872
Central Retail Corp. PCL, NVDR		1,248,800		1,535,083
Charoen Pokphand Foods PCL, NVDR		2,578,100		1,749,210
CP ALL PCL, NVDR(c)		3,856,600		7,140,261
Delta Electronics Thailand PCL, NVDR		202,400		3,894,162
Electricity Generating PCL, NVDR		163,700		799,287
Energy Absolute PCL, NVDR		1,113,600		3,066,731
Global Power Synergy PCL, NVDR(c)		463,400		920,966
Gulf Energy Development PCL, NVDR		1,963,100		2,969,170
Home Product Center PCL, NVDR		3,933,600		1,650,327
Indorama Ventures PCL, NVDR		1,114,500		1,351,189
Intouch Holdings PCL, NVDR		738,650		1,553,220
JMT Network Services PCL, NVDR		450,900		862,939
Kasikornbank PCL, NVDR		381,900		1,573,659
Krung Thai Bank PCL, NVDR		2,328,300		1,168,424
Krungthai Card PCL, NVDR		614,200		1,029,896
Land & Houses PCL, NVDR		5,370,600		1,466,555
Minor International PCL, NVDR(a)		2,097,100		1,846,112
Muangthai Capital PCL, NVDR		511,100		542,161
Osotspa PCL, NVDR		1,025,800		825,766
PTT Exploration & Production PCL, NVDR		915,900		4,883,591
PTT Global Chemical PCL, NVDR		1,476,500		2,022,659
PTT Oil & Retail Business PCL, NVDR		2,065,100		1,432,592
PTT Public Company Ltd., NVDR		6,613,400		6,258,003
Ratch Group PCL, NVDR		715,600		834,782
SCB X PCL, NVS		547,200		1,642,956
SCG Packaging PCL, NVDR		849,500		1,338,797
Siam Cement PCL (The), NVDR		506,800		4,845,968
Srisawad Corp. PCL, NVDR		459,200		595,866
Thai Oil PCL, NVDR(c)		809,400		1,279,268
Thai Union Group PCL, NVDR		1,910,800		928,314
True Corp. PCL, NVDR(c)		7,806,800		1,008,456
				90,023,175
Turkey — 0.8%
Akbank TAS		2,078,300		1,930,216

6

Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets ex China ETF
November 30, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
Turkey (continued)
Aselsan Elektronik Sanayi Ve Ticaret AS		462,381	$	1,209,971
BIM Birlesik Magazalar AS		304,540		2,208,351
Eregli Demir ve Celik Fabrikalari TAS		909,272		2,078,100
Ford Otomotiv Sanayi AS		47,194		1,126,720
Haci Omer Sabanci Holding AS		674,541		1,534,208
Hektas Ticaret TAS(a)		664,581		1,274,006
KOC Holding AS		508,830		1,937,657
Sasa Polyester Sanayi AS(a)		241,412		1,679,962
Turk Hava Yollari AO(a)		369,782		2,391,807
Turkcell Iletisim Hizmetleri AS		813,866		1,486,220
Turkiye Is Bankasi AS, Class C(c)		2,364,942		1,330,947
Turkiye Petrol Rafinerileri AS(a)		83,693		2,162,466
Turkiye Sise ve Cam Fabrikalari AS		911,646		1,922,778
Yapi ve Kredi Bankasi AS		1,857,310		1,200,804
				25,474,213
United Arab Emirates — 1.9%
Abu Dhabi Commercial Bank PJSC		1,850,926		4,938,802
Abu Dhabi Islamic Bank PJSC		960,486		2,516,528
Abu Dhabi National Oil Co. for Distribution PJSC		2,092,575		2,596,888
Aldar Properties PJSC		2,593,098		3,365,761
Dubai Islamic Bank PJSC		1,935,968		3,003,533
Emaar Properties PJSC		2,665,835		4,432,241
Emirates NBD Bank PJSC		1,260,408		4,551,848
Emirates Telecommunications Group Co. PJSC		2,302,716		16,191,821
First Abu Dhabi Bank PJSC		2,923,845		14,022,049
Q Holding PJSC(a)		1,249,024		1,530,208
				57,149,679
Total Common Stocks — 96.4%
(Cost: $3,179,387,596)				2,880,694,054
Preferred Stocks
Brazil — 1.9%
Banco Bradesco SA, Preference Shares, NVS		3,505,154		10,523,534
Braskem SA, Class A, Preference Shares, NVS		128,705		697,921
Centrais Eletricas Brasileiras SA, Class B, Preference Shares, NVS		186,041		1,759,544
Cia. Energetica de Minas Gerais, Preference Shares, NVS		927,981		2,052,901
Gerdau SA, Preference Shares, NVS		755,504		4,596,194
Itau Unibanco Holding SA, Preference Shares, NVS		3,192,587		15,995,695
Itausa SA, Preference Shares, NVS		3,358,461		5,746,989
Petroleo Brasileiro SA, Preference Shares, NVS		3,133,369		16,097,511
				57,470,289
Chile — 0.3%
Sociedad Quimica y Minera de Chile SA, Class B, Preference Shares		94,533		9,427,315
Colombia — 0.1%
Bancolombia SA, Preference Shares, NVS		301,018		1,994,525
Russia — 0.0%
Surgutneftegas PJSC, Preference Shares, NVS(d)		3,036,700		498

Security	Shares		Value
South Korea — 0.9%
Hyundai Motor Co.
Preference Shares, NVS		15,935	$	1,022,759
Series 2, Preference Shares, NVS		24,494		1,543,909
LG Chem Ltd., Preference Shares, NVS		4,953		1,275,657
LG H&H Co. Ltd., Preference Shares, NVS		270		57,746
Samsung Electronics Co. Ltd., Preference Shares, NVS		545,808		23,470,646
				27,370,717
Total Preferred Stocks — 3.2%
(Cost: $103,584,390)				96,263,344
Rights
South Korea — 0.0%
HLB Inc., (Expires 12/09/22, Strike Price KRW 25,200.00)(a)		4,436		24,722
Total Rights — 0.0%
(Cost: $—)				24,722
Total Long-Term Investments — 99.6%
(Cost: $3,282,971,986)				2,976,982,120
Short-Term Securities
Money Market Funds — 0.8%
BlackRock Cash Funds: Institutional, SL Agency Shares, 4.06%(f)(g)(h)		18,577,564		18,579,422
BlackRock Cash Funds: Treasury, SL Agency Shares, 3.64%(f)(g)		4,700,000		4,700,000
Total Short-Term Securities — 0.8%
(Cost: $23,281,039)				23,279,422
Total Investments — 100.4%
(Cost: $3,306,253,025)				3,000,261,542
Liabilities in Excess of Other Assets — (0.4)%				(11,582,691	)
Net Assets — 100.0%			$	2,988,678,851

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

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

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

^(f) Affiliate of the Fund.

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

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

7

Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets ex China ETF
November 30, 2022

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended November 30, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at 08/31/22		Purchases at Cost			Proceeds from Sale			Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Value at 11/30/22		Shares Held at 11/30/22		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL Agency Shares	$	16,624,717	$	1,957,131	(a)	$	—		$	4,951	$	(7,377	)	$	18,579,422		18,577,564	$	111,056	(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		4,900,000		—			(200,000	)(a)		—		—			4,700,000		4,700,000		27,812			—
									$	4,951	$	(7,377	)	$	23,279,422			$	138,868		$	—

^(a) Represents net amount purchased (sold).

^(b) All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities.

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount (000)		Value/ Unrealized Appreciation (Depreciation)
Long Contracts MSCI Emerging Markets Index		104	12/16/22	$	5,109	$	244,482

Fair Value Hierarchy as of Period End
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 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 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.

8

Schedule of Investments (unaudited) (continued)	iShares® MSCI Emerging Markets ex China ETF
November 30, 2022

Fair Value Hierarchy as of Period End (continued)

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

	Level 1		Level 2		Level 3		Total
Investments
Assets
Common Stocks	$	358,663,554	$	2,522,023,608	$	6,892	$	2,880,694,054
Preferred Stocks		59,464,814		36,798,032		498		96,263,344
Rights		—		24,722		—		24,722
Money Market Funds		23,279,422		—		—		23,279,422
	$	441,407,790	$	2,558,846,362	$	7,390	$	3,000,261,542
Derivative financial instruments(a)
Assets
Futures Contracts	$	244,482	$	—	$	—	$	244,482

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

Portfolio Abbreviation
ADR	American Depositary Receipt	NVDR	Non-Voting Depositary Receipt
CPO	Certificates of Participation (Ordinary)	NVS	Non-Voting Shares
GDR	Global Depositary Receipt	PJSC	Public Joint Stock Company
JSC	Joint Stock Company

9