Schedule of Investments (unaudited)	iShares® J.P. Morgan EM High Yield Bond ETF
January 31, 2023	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
Corporate Bonds & Notes
Argentina — 0.8%
MSU Energy SA/UGEN SA/UENSA SA, 6.88%, 02/01/25 (Call 03/02/23)(a)	$	300	$	226,931
Pampa Energia SA, 7.50%, 01/24/27 (Call 01/24/24)(a)		250		235,344
Transportadora de Gas del Sur SA, 6.75%, 05/02/25 (Call 03/02/23)(a)		300		280,650
YPF SA
6.95%, 07/21/27(a)		400		318,075
7.00%, 12/15/47 (Call 06/15/47)(a)		250		174,688
8.50%, 07/28/25(a)		500		455,662
8.75%, 04/04/24(a)		308		295,064
YPF Sociedad Anonima
7.00%, 09/30/33 (Call 03/30/33)		300		227,250
9.00%, 02/12/26 (Call 11/12/25)		500		491,037
				2,704,701
Azerbaijan — 0.4%
International Bank of Azerbaijan OJSC, 3.50%, 09/01/24(a)		550		528,000
Southern Gas Corridor CJSC, 6.88%, 03/24/26(a)		1,000		1,027,375
				1,555,375
Bahrain — 0.3%
AUB Sukuk Ltd., 2.62%, 09/09/26(a)		400		365,950
BBK BSC, 5.50%, 07/09/24(a)		200		197,163
GFH Sukuk Ltd., 7.50%, 01/28/25(a)		200		199,975
Oil and Gas Holding Co. BSCC (The), 7.50%, 10/25/27(a)		400		414,825
				1,177,913
Brazil — 8.4%
Acu Petroleo Luxembourg Sarl, 7.50%, 01/13/32 (Call 01/13/27)(a)		249		232,521
Adecoagro SA, 6.00%, 09/21/27 (Call 09/21/23)		200		190,975
Aegea Finance Sarl, 6.75%, 05/20/29 (Call 05/20/25)(a)		200		197,840
Amaggi Luxembourg International Sarl, 5.25%, 01/28/28 (Call 01/28/25)		400		375,200
Atento Luxco 1 SA, 8.00%, 02/10/26 (Call 02/10/24)		300		133,500
Azul Investments LLP, 7.25%, 06/15/26 (Call 06/15/24)		400		241,075
B3 SA - Brasil Bolsa Balcao, 4.13%, 09/20/31(a)		400		347,000
Banco Bradesco SA/Cayman Islands
3.20%, 01/27/25(a)		400		383,000
4.38%, 03/18/27(a)(b)		200		192,600
Banco BTG Pactual SA/Cayman Islands
2.75%, 01/11/26 (Call 12/11/25)(a)		200		181,163
4.50%, 01/10/25 (Call 12/10/24)(a)		600		577,800
7.75%, 02/15/29 (Call 02/15/24)(a)(c)		200		200,412
Banco do Brasil SA/Cayman
3.25%, 09/30/26(a)		400		368,450
4.75%, 03/20/24		400		394,800
4.88%, 01/11/29(a)		200		188,975
6.25%, (Call 04/15/24)(a)(c)(d)		1,000		905,000
9.00%, (Call 06/18/24)(a)(c)(d)		1,000		1,000,000
9.25%, 10/29/49 (Call 04/15/23)		600		600,300
Banco Votorantim SA, 4.38%, 07/29/25(a)		400		384,325
Braskem Netherlands Finance BV, 8.50%, 01/23/81 (Call 10/23/25)(a)(c)		200		204,225
BRF SA
4.88%, 01/24/30 (Call 10/24/29)(a)		400		337,075
5.75%, 09/21/50 (Call 03/21/50)(a)		400		278,950
Cemig Geracao e Transmissao SA, 9.25%, 12/05/24 (Call 12/05/23)(a)		400		410,000
Centrais Eletricas Brasileiras SA
3.63%, 02/04/25(a)		200		189,850

Security	Par (000)		Value
Brazil (continued)
4.63%, 02/04/30(a)	$	400	$	350,000
Cosan Luxembourg SA, 7.00%, 01/20/27 (Call 03/02/23)(a)		400		401,950
Cosan Overseas Ltd., 8.25%, (Call 05/05/23)(a)(d)		200		198,850
Cosan SA, 5.50%, 09/20/29 (Call 09/20/24)(a)		400		379,075
CSN Inova Ventures, 6.75%, 01/28/28 (Call 01/28/24)(a)		600		599,400
CSN Resources SA
4.63%, 06/10/31 (Call 06/10/26)(a)		600		505,320
5.88%, 04/08/32 (Call 04/08/27)(a)		200		181,500
Embraer Netherlands Finance BV
5.05%, 06/15/25(b)		605		595,660
5.40%, 02/01/27(b)		300		294,375
6.95%, 01/17/28 (Call 10/17/27)(a)		400		409,200
FS Luxembourg Sarl, 10.00%, 12/15/25 (Call 12/15/23).		400		403,575
Globo Comunicacao e Participacoes SA, 4.88%, 01/22/30(a)		200		169,913
Gol Finance SA, 8.00%, 06/30/26 (Call 03/02/23)(a)		200		136,850
Guara Norte Sarl, 5.20%, 06/15/34		364		328,943
InterCement Financial Operations BV, 5.75%, 07/17/24 (Call 03/02/23)(a)		400		315,000
Itau Unibanco Holding SA/Cayman Island
3.25%, 01/24/25(a)		200		193,115
3.88%, 04/15/31 (Call 04/15/26)(a)(c)		400		364,700
4.50%, 11/21/29 (Call 11/21/24)(a)(c)		400		382,000
4.63%, (Call 02/27/25)(a)(c)(d)		200		163,350
6.50%, (Call 03/19/23)(a)(c)(d)		400		386,325
7.72%, (Call 06/12/23)(a)(c)(d)		600		583,620
Klabin Austria GmbH
3.20%, 01/12/31 (Call 10/12/30)(a)		200		163,000
5.75%, 04/03/29 (Call 01/03/29)(a)(b)		400		399,250
7.00%, 04/03/49 (Call 10/03/48)(a)		400		402,800
Light Servicos de Eletricidade SA/Light Energia SA, 4.38%, 06/18/26 (Call 06/18/24)(a)		400		227,700
MARB BondCo PLC, 3.95%, 01/29/31 (Call 01/29/26)(a)		600		470,853
MC Brazil Downstream Trading SARL, 7.25%, 06/30/31(a)		773		674,210
MercadoLibre Inc., 3.13%, 01/14/31 (Call 10/14/30)(b)		400		316,150
Minerva Luxembourg SA, 4.38%, 03/18/31 (Call 03/18/26)		600		505,620
Movida Europe SA, 5.25%, 02/08/31 (Call 02/08/26)(a)(b)		400		290,480
Natura &Co. Luxembourg Holdings Sarl, 6.00%, 04/19/29 (Call 02/19/29)(a)		400		350,130
Natura Cosmeticos SA, 4.13%, 05/03/28 (Call 03/03/28)(a)		400		330,080
NBM U.S. Holdings Inc.
6.63%, 08/06/29 (Call 08/06/24)(a)(b)		200		194,163
7.00%, 05/14/26 (Call 03/02/23)(a)		400		398,184
Nexa Resources SA
5.38%, 05/04/27 (Call 02/04/27)(a)(b)		400		386,800
6.50%, 01/18/28 (Call 10/18/27)(a)		200		197,425
Odebrecht Drilling Norbe VIII/IX Ltd., 7.35%, 12/01/26 (Call 03/02/23), (7.35% PIK)(a)(e)		453		223,341
Odebrecht Offshore Drilling Finance Ltd., 7.72%, 12/01/26 (Call 03/02/23), (7.72% PIK)(a)(e)		950		200,773
Oi SA, 10.00%, 07/27/25, (12.00% PIK)(e).		784		78,792
Petrobras Global Finance BV
5.09%, 01/15/30(b)		250		235,525
5.30%, 01/27/25(b)		350		348,600
5.50%, 06/10/51 (Call 12/10/50)(b)		350		272,344
5.60%, 01/03/31 (Call 10/03/30)(b)		575		554,760
6.00%, 01/27/28(b)		626		625,624
6.25%, 03/17/24		200		200,537
6.75%, 01/27/41(b)		300		283,556
6.85%, 06/05/2115(b)		850		733,125
6.88%, 01/20/40(b)		350		335,847

 1

Schedule of Investments (unaudited) (continued)	iShares® J.P. Morgan EM High Yield Bond ETF
January 31, 2023	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
Brazil (continued)
6.90%, 03/19/49(b)	$	400	$	362,450
7.25%, 03/17/44(b)		516		503,371
7.38%, 01/17/27		400		416,800
Petrorio Luxembourg Trading Sarl, 6.13%, 06/09/26 (Call 06/09/24)(a)		200		192,413
Rede D’or Finance Sarl
4.50%, 01/22/30 (Call 10/22/29)(a)		300		262,969
4.95%, 01/17/28 (Call 10/17/27)(a)		400		369,330
Rumo Luxembourg Sarl
4.20%, 01/18/32 (Call 01/18/27)		200		165,163
5.25%, 01/10/28 (Call 01/10/24)(a)		200		192,040
Simpar Europe SA, 5.20%, 01/26/31 (Call 01/26/26)(a)		400		290,720
StoneCo Ltd., 3.95%, 06/16/28 (Call 05/16/28)(a)		300		226,050
Unigel Luxembourg SA, 8.75%, 10/01/26 (Call 03/02/23)(a)		200		201,600
Usiminas International Sarl, 5.88%, 07/18/26 (Call 07/18/23)(a)		400		392,075
XP Inc., 3.25%, 07/01/26 (Call 06/01/26)(a)		400		358,325
				29,190,732
Burkina Faso — 0.1%
Endeavour Mining PLC, 5.00%, 10/14/26 (Call 10/14/23)(a)		200		176,725
Cayman Islands — 0.0%
Odebrecht Holdco Finance Ltd., 0.00%, 09/10/58 (Call 03/02/23)(a)(f)		900		1,688
Chile — 0.3%
AES Andes SA., 7.13%, 03/26/79 (Call 07/06/24)(a)(c)		200		193,475
Agrosuper SA, 4.60%, 01/20/32 (Call 10/20/31)(a)		200		178,288
Guacolda Energia SA, 4.56%, 04/30/25 (Call 01/30/25)(a)		200		68,350
Latam Airlines Group SA, 13.38%, 10/15/29		400		429,500
				869,613
China — 4.5%
Agile Group Holdings Ltd., 7.88%, (Call 07/31/24)(a)(c)(d)		600		186,000
Bank of Communications Co. Ltd., 3.80%, (Call 11/18/25)(a)(c)(d)		1,500		1,455,000
Central Plaza Development Ltd., 5.75%, (Call 11/14/24)(a)(c)(d)		400		338,575
China Hongqiao Group Ltd., 6.25%, 06/08/24(a)		200		195,600
China SCE Group Holdings Ltd., 7.00%, 05/02/25 (Call 05/02/23)(a)		400		214,000
China Shenhua Overseas Capital Co. Ltd., 3.88%, 01/20/25(a)		200		194,040
Country Garden Holdings Co. Ltd.
2.70%, 07/12/26 (Call 06/12/26)(a)		400		259,000
3.13%, 10/22/25 (Call 09/22/25)(a)		400		275,000
3.30%, 01/12/31 (Call 10/12/30)(a)		400		230,000
3.88%, 10/22/30 (Call 07/22/30)(a)		400		234,000
5.13%, 01/17/25 (Call 03/02/23)(a)		400		312,000
5.13%, 01/14/27 (Call 01/14/24)(a)		200		135,500
5.40%, 05/27/25 (Call 05/27/23)(a)		200		151,500
6.15%, 09/17/25 (Call 09/17/23)(a)		400		303,000
6.50%, 04/08/24 (Call 03/02/23)(a)		400		332,325
7.25%, 04/08/26 (Call 04/08/23)(a)		1,000		748,750
Ease Trade Global Ltd., 4.00%, 11/10/25(a)		400		376,075
Easy Tactic Ltd.
7.50%, 07/11/25 (Call 03/02/23), (7.50% PIK)(e)		622		213,984
7.50%, 07/11/27 (Call 03/02/23), (7.50% PIK)(e)		1,215		386,263
7.50%, 07/11/28 (Call 03/02/23), (7.50% PIK)(e)		726		217,875
Emirates NBD Bank PJSC, 6.13%, (Call 04/09/26)(a)(c)(d)		400		400,825

Security	Par (000)		Value
China (continued)
ENN Clean Energy International Investment Ltd., 3.38%, 05/12/26 (Call 05/12/24)(a)	$	400	$	360,500
Fortune Star BVI Ltd.
5.00%, 05/18/26 (Call 05/18/24)(a)		200		163,700
5.05%, 01/27/27 (Call 01/27/25)(a)		200		155,625
5.95%, 10/19/25 (Call 10/19/23)(a)		400		351,325
Franshion Brilliant Ltd., 6.00%, (Call 02/08/26)(a)(c)(d)		200		183,813
Industrial & Commercial Bank of China Ltd., 3.20%, (Call 09/24/26)(a)(c)(d)		3,100		2,940,117
KWG Group Holdings Ltd., 5.88%, 11/10/24 (Call 02/15/23)(a).		400		164,000
Lenovo Group Ltd., 5.88%, 04/24/25(a)		600		600,768
Leviathan Bond Ltd.
6.13%, 06/30/25 (Call 03/30/25)(a)(g)		275		271,700
6.75%, 06/30/30 (Call 12/30/29)(a)(g)		250		242,391
Overseas Chinese Town Asia Holdings Ltd., 4.50%, (Call 07/15/23)(a)(c)(d)		200		194,250
Powerlong Real Estate Holdings Ltd., 6.25%, 08/10/24 (Call 08/10/23)(a)		400		121,700
RKPF Overseas 2020 A Ltd.
5.13%, 07/26/26 (Call 07/26/24)(a)		200		160,500
5.20%, 01/12/26 (Call 01/12/24)(a)		400		321,500
Shui On Development Holding Ltd., 6.15%, 08/24/24 (Call 03/02/23)(a)		200		184,662
Sino-Ocean Land Treasure Finance I Ltd., 6.00%, 07/30/24(a)		200		172,913
Sino-Ocean Land Treasure Finance II Ltd., 5.95%, 02/04/27(a)		200		155,675
Sino-Ocean Land Treasure III Ltd., 6.88%, (Call 09/21/27)(a)(c)(d)		400		226,075
Sino-Ocean Land Treasure IV Ltd.
2.70%, 01/13/25 (Call 12/13/24)(a)		200		163,375
4.75%, 08/05/29 (Call 05/05/29)(a)		400		286,000
Turkiye Vakiflar Bankasi TAO, 5.25%, 02/05/25(a)		600		564,112
West China Cement Ltd., 4.95%, 07/08/26 (Call 07/08/24)(a)		400		351,000
Yanlord Land HK Co. Ltd., 5.13%, 05/20/26 (Call 05/20/24)(a)		200		182,000
				15,677,013
Colombia — 3.0%
AI Candelaria Spain SLU, 5.75%, 06/15/33 (Call 06/15/28)(a)		400		311,000
Avianca Midco 2 Ltd., 9.00%, 12/01/28 (Call 12/01/24)(a)		850		637,500
Banco Davivienda SA, 6.65%, (Call 04/22/31)(a)(c)(d)		200		157,250
Banco de Bogota SA, 6.25%, 05/12/26(a)		600		592,987
Bancolombia SA
3.00%, 01/29/25 (Call 12/29/24)(b)		600		567,112
4.63%, 12/18/29 (Call 12/18/24)(b)(c)		200		181,460
7.14%, 10/18/27(c)		400		397,000
Canacol Energy Ltd., 5.75%, 11/24/28 (Call 11/24/24)(a)		200		177,038
Colombia Telecomunicaciones SA ESP, 4.95%, 07/17/30 (Call 04/17/30)(a)(b)		200		172,913
Ecopetrol SA
4.13%, 01/16/25		560		541,100
4.63%, 11/02/31 (Call 08/02/31)		600		472,530
5.38%, 06/26/26 (Call 03/26/26)		750		722,381
5.88%, 05/28/45		1,040		744,770
5.88%, 11/02/51 (Call 05/02/51)(b)		405		279,956
6.88%, 04/29/30 (Call 01/29/30)		950		885,618
7.38%, 09/18/43		400		347,500
8.88%, 01/13/33 (Call 10/13/32)		1,000		1,023,800
EnfraGen Energia Sur SA, 5.38%, 12/30/30 (Call 12/30/25)		400		288,312
Geopark Ltd., 5.50%, 01/17/27 (Call 01/17/24)(a)		200		177,413
Gol Finance SA, 7.00%, 01/31/25 (Call 01/31/23)(a)		300		154,556
Grupo Aval Ltd., 4.38%, 02/04/30 (Call 11/04/29)(a)		400		329,480

2

Schedule of Investments (unaudited) (continued)	iShares® J.P. Morgan EM High Yield Bond ETF
January 31, 2023	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
Colombia (continued)
Grupo de Inversiones Suramericana SA, 5.50%, 04/29/26 (Call 01/29/26)	$	200	$	194,225
Millicom International Cellular SA
4.50%, 04/27/31 (Call 04/27/26)(a)(b)		400		338,600
6.25%, 03/25/29 (Call 03/25/24)(a)		360		331,200
Oleoducto Central SA, 4.00%, 07/14/27 (Call 04/14/27)(a)		200		176,913
Sierracol Energy Andina Co., 6.00%, 06/15/28 (Call 06/15/24)(a)		200		164,975
				10,367,589
Egypt — 0.3%
Banco do Brasil SA/Cayman, 4.63%, 01/15/25		600		586,500
YPF SA, 9.00%, 06/30/29 (Call 12/30/28)		400		345,075
				931,575
Ghana — 0.4%
Kosmos Energy Ltd., 7.13%, 04/04/26 (Call 03/02/23)(a)		400		359,946
Tullow Oil PLC
7.00%, 03/01/25 (Call 03/02/23)(a)		400		284,000
10.25%, 05/15/26 (Call 05/15/23)(a)		906		776,895
				1,420,841
Guatemala — 0.4%
Central American Bottling Corp./CBC Bottling Holdco SL/Beliv
Holdco SL, 5.25%, 04/27/29 (Call 04/27/26)(a)		600		572,424
CT Trust, 5.13%, 02/03/32 (Call 02/03/27)(a)		400		349,000
Investment Energy Resources Ltd., 6.25%, 04/26/29 (Call 04/26/25)(a)		400		381,075
				1,302,499
Hong Kong — 3.5%
Adani Green Energy Ltd., 4.38%, 09/08/24(a)		400		304,000
Bank of Communications Hong Kong Ltd., 3.73%, (Call 03/03/25)(a)(c)(d)		250		241,562
Bank of East Asia Ltd. (The)
5.83%, (Call 10/21/25)(a)(c)(d)		250		237,500
5.88%, (Call 09/19/24)(a)(c)(d)		250		242,703
CAS Capital No. 1 Ltd., 4.00%, (Call 07/12/26)(a)(c)(d)		400		353,200
Cathay Pacific MTN Financing HK Ltd., 4.88%, 08/17/26(a)		400		389,500
Celestial Miles Ltd., 5.75%, (Call 01/31/24)(a)(c)(d)		600		588,487
China Citic Bank, 3.25%, (Call 07/29/26)(a)(c)(d)		250		232,859
China CITIC Bank International Ltd.
4.80%, (Call 04/22/27)(a)(c)(d)		250		243,750
7.10%, (Call 11/06/23)(a)(c)(d)		400		404,000
FWD Group Ltd.
5.75%, 07/09/24(a)		400		393,000
6.38%, (Call 09/13/24)(a)(c)(d)		400		371,450
8.05%, (Call 06/15/23)(a)(c)(d)		400		381,825
Henderson Land MTN Ltd., 2.38%, 05/27/25(a)		200		186,413
Lai Sun MTN Ltd., 5.00%, 07/28/26(a)		200		170,475
Li & Fung Ltd.
4.50%, 08/18/25 (Call 07/18/25)(a)		200		186,913
5.25%, (Call 05/03/23)(a)(d)		400		246,500
Melco Resorts Finance Ltd.
4.88%, 06/06/25 (Call 03/02/23)(a)		400		376,000
5.25%, 04/26/26 (Call 03/02/23)(a)		300		279,000
5.38%, 12/04/29 (Call 12/04/24)(a)		600		514,500
5.63%, 07/17/27 (Call 03/02/23)(a)		400		362,825
5.75%, 07/21/28 (Call 07/21/23)(a)		400		358,000
Nanyang Commercial Bank Ltd., 6.50%, (Call 04/28/27)(a)(c)(d)		250		245,000
New World China Land Ltd., 4.75%, 01/23/27(a)		400		373,000

Security	Par (000)		Value
Hong Kong (continued)
NWD Finance BVI Ltd.
4.13%, (Call 03/10/28)(a)(c)(d)	$	600	$	479,550
4.80%, (Call 09/09/23)(a)(d)		400		288,000
5.25%, (Call 03/22/26)(a)(c)(d)		600		561,000
6.25%, (Call 03/07/24)(a)(d)		600		508,500
NWD MTN Ltd.
4.13%, 07/18/29(a)		600		514,866
4.50%, 05/19/30(a)		200		173,538
PCPD Capital Ltd., 5.13%, 06/18/26 (Call 06/18/24)(a)		400		340,325
Sands China Ltd., 5.63%, 08/08/25 (Call 06/08/25)		1,000		986,250
Seaspan Corp., 5.50%, 08/01/29 (Call 08/01/24)(a)		400		300,620
Wheelock MTN BVI Ltd., 2.38%, 01/25/26(a)		200		184,225
				12,019,336
India — 2.3%
ABJA Investment Co. Pte Ltd., 5.95%, 07/31/24(a)		425		421,812
Adani Green Energy UP Ltd./Prayatna Developers Pvt
Ltd./Parampujya Solar Energy, 6.25%, 12/10/24(a)		200		184,000
Axis Bank Ltd., 4.10%, (Call 09/08/26)(a)(c)(d)		200		176,500
CA Magnum Holdings, 5.38%, 10/31/26 (Call 10/31/23)(a)		400		368,000
Continuum Energy Levanter Pte Ltd., 4.50%, 02/09/27 (Call 02/09/24)(a)		194		173,183
Delhi International Airport Ltd.
6.13%, 10/31/26(a)		400		386,700
6.45%, 06/04/29(a)		200		187,725
Greenko Dutch BV, 3.85%, 03/29/26 (Call 03/29/23)(a)		573		509,254
Greenko Power II Ltd., 4.30%, 12/13/28 (Call 12/14/24)(a)		573		494,212
Greenko Solar Mauritius Ltd.
5.55%, 01/29/25		200		190,000
5.95%, 07/29/26 (Call 07/29/23)(a)		200		186,000
Greenko Wind Projects Mauritius Ltd., 5.50%, 04/06/25 (Call 04/06/24)(a)		400		376,575
HDFC Bank Ltd., 3.70%, (Call 08/25/26)(a)(c)(d)		600		523,500
JSW Hydro Energy Ltd., 4.13%, 05/18/31 (Call 05/18/26)(a)		354		300,900
JSW Steel Ltd.
3.95%, 04/05/27 (Call 10/05/26)(a)		400		352,000
5.05%, 04/05/32 (Call 10/05/31)(a)		200		167,913
5.95%, 04/18/24(a)		200		197,000
Network i2i Ltd.
3.98%, (Call 06/03/26)		200		180,413
5.65%, (Call 01/15/25)(a)(c)(d)		600		577,237
Periama Holdings LLC/DE, 5.95%, 04/19/26(a)		400		383,950
ReNew Wind Energy AP2/ReNew Power Pvt Ltd. other 9 Subsidiaries, 4.50%, 07/14/28 (Call 10/14/23)(a)		200		170,500
Shriram Transport Finance Co. Ltd., 4.40%, 03/13/24		400		384,000
Vedanta Resources Finance II PLC
8.95%, 03/11/25 (Call 09/11/24)(a)		600		469,500
9.25%, 04/23/26 (Call 04/23/23)(a)(b)		400		303,000
Vedanta Resources Ltd., 6.13%, 08/09/24 (Call 08/09/23)(a)		400		302,500
				7,966,374
Indonesia — 0.5%
Adaro Indonesia PT, 4.25%, 10/31/24 (Call 03/02/23)(a)		250		239,734
Bank Negara Indonesia Persero Tbk PT
3.75%, 03/30/26(a)		600		562,566
4.30%, (Call 03/24/27)(a)(c)(d)		200		171,522
Indika Energy Capital IV Pte Ltd., 8.25%, 10/22/25 (Call 10/22/23)(a)		350		348,250
Medco Bell Pte Ltd., 6.38%, 01/30/27 (Call 01/30/24)(a)		400		380,000
Medco Oak Tree Pte Ltd., 7.38%, 05/14/26 (Call 05/14/23)(a)		200		198,700
				1,900,772

 3

Schedule of Investments (unaudited) (continued)	iShares® J.P. Morgan EM High Yield Bond ETF
January 31, 2023	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
Israel — 1.6%
Energean Israel Finance Ltd., 5.88%, 03/30/31 (Call 09/30/30)(a)(g)	$	300	$	269,025
Teva Pharmaceutical Finance Co. LLC, 6.15%, 02/01/36		550		509,712
Teva Pharmaceutical Finance Netherlands III BV
3.15%, 10/01/26		1,800		1,614,924
4.10%, 10/01/46		900		617,512
4.75%, 05/09/27 (Call 02/09/27)		500		461,563
5.13%, 05/09/29 (Call 02/09/29)(b)		400		369,920
6.00%, 04/15/24 (Call 01/15/24)(b)		600		594,375
6.75%, 03/01/28 (Call 12/01/27)		600		602,022
7.13%, 01/31/25 (Call 10/31/24)		400		403,670
				5,442,723
Jamaica — 0.2%
Digicel International Finance Ltd./Digicel international Holdings Ltd., 8.75%, 05/25/24 (Call 02/15/23)(a)		700		601,444
Kazakhstan — 0.4%
Energean Israel Finance Ltd., 5.38%, 03/30/28 (Call 09/30/27)(a)(g)		325		298,025
Tengizchevroil Finance Co. International Ltd.
2.63%, 08/15/25 (Call 05/15/25)(a)		400		358,000
3.25%, 08/15/30 (Call 02/15/30)(a)		400		301,500
4.00%, 08/15/26(a)		400		354,075
				1,311,600
Kuwait — 0.3%
Burgan Bank SAK, 5.75%, (Call 07/09/24)(a)(c)(d)		200		184,413
Kuwait Projects Co. SPC Ltd.
4.23%, 10/29/26(a)		400		350,325
4.50%, 02/23/27(a)		200		169,975
Leviathan Bond Ltd., 6.50%, 06/30/27 (Call 12/30/26)(a)(g)		350		344,312
				1,049,025
Luxembourg — 0.4%
Altice Financing SA
5.00%, 01/15/28 (Call 03/02/23)(a)		700		595,203
5.75%, 08/15/29 (Call 08/15/24)		1,000		837,600
				1,432,803
Macau — 2.1%
Champion Path Holdings Ltd.
4.50%, 01/27/26 (Call 01/27/24)(a)		200		180,500
4.85%, 01/27/28 (Call 01/27/25)(a)		200		173,350
MGM China Holdings Ltd.
4.75%, 02/01/27 (Call 02/01/24)(a)		200		180,250
5.25%, 06/18/25 (Call 06/18/23)(a)		200		189,787
5.38%, 05/15/24 (Call 05/15/23)(a)		600		582,000
5.88%, 05/15/26 (Call 02/10/23)(a)		400		378,075
Sands China Ltd.
2.80%, 03/08/27 (Call 02/08/27)		300		262,125
3.35%, 03/08/29 (Call 01/08/29)		400		339,500
3.75%, 08/08/31 (Call 05/08/31)		400		330,000
4.30%, 01/08/26 (Call 12/08/25)(b)		400		377,240
4.88%, 06/18/30 (Call 03/18/30)		400		362,000
5.90%, 08/08/28 (Call 05/08/28)		800		780,000
Studio City Finance Ltd.
5.00%, 01/15/29 (Call 01/15/24)(a)		800		643,496
6.50%, 01/15/28 (Call 07/07/23)(a)		200		177,500
Wynn Macau Ltd.
4.88%, 10/01/24 (Call 03/02/23)(a)		200		192,000
5.13%, 12/15/29 (Call 12/15/24)(a)		400		331,500
5.50%, 01/15/26 (Call 03/02/23)(a)		600		561,000

Security	Par (000)		Value
Macau (continued)
5.50%, 10/01/27 (Call 10/01/23)(a)	$	400	$	358,000
5.63%, 08/26/28 (Call 08/26/23)(a)		800		708,000
				7,106,323
Mexico — 8.1%
Alsea SAB de CV, 7.75%, 12/14/26 (Call 12/14/23)(a)(b)		200		201,725
Banco Mercantil del Norte SA/Grand Cayman
5.88%, (Call 01/24/27)(a)(c)(d)		400		368,825
6.63%, (Call 01/24/32)(a)(c)(d)		200		176,288
6.75%, (Call 09/27/24)(a)(b)(c)(d)		300		293,212
7.50%, (Call 06/27/29)(a)(c)(d)		200		191,475
7.63%, (Call 01/06/28)		400		392,800
8.38%, (Call 10/14/30)(a)(c)(d)		200		204,850
BBVA Bancomer SA/Texas
5.13%, 01/18/33 (Call 01/17/28)(a)(c)		600		567,300
5.88%, 09/13/34 (Call 09/13/29)(a)(c)		350		335,956
Braskem Idesa SAPI
6.99%, 02/20/32 (Call 02/20/27)(a)		700		514,920
7.45%, 11/15/29 (Call 11/15/24)(a)		400		328,350
Cemex SAB de CV
3.88%, 07/11/31 (Call 07/11/26)(a)		700		588,875
5.20%, 09/17/30 (Call 09/17/25)(a)		400		373,575
5.45%, 11/19/29 (Call 11/19/24)(a)		400		384,430
7.38%, 06/05/27 (Call 06/05/23)(a)		400		410,700
Cemex SAB De CV, 5.13%, (Call 06/08/26)(a)(c)(d)		500		458,750
Grupo Aeromexico SAB de CV, 8.50%, 03/17/27 (Call 03/17/24)(a)		300		269,437
Grupo Bimbo SAB de CV, 5.95%, (Call 04/17/23)(a)(c)(d)		200		198,965
Mexico Remittances Funding Fiduciary Estate Management Sarl, 4.88%, 01/15/28		200		183,850
Nemak SAB de CV, 3.63%, 06/28/31 (Call 03/28/31)(a)		200		160,650
Petroleos Mexicanos
4.50%, 01/23/26(b)		600		558,150
5.35%, 02/12/28(b)		953		829,110
5.95%, 01/28/31 (Call 10/28/30)		1,950		1,556,880
6.35%, 02/12/48(b)		800		521,920
6.38%, 01/23/45(b)		600		404,100
6.49%, 01/23/27 (Call 11/23/26)		748		699,717
6.50%, 03/13/27		2,050		1,931,664
6.50%, 01/23/29		625		564,406
6.50%, 06/02/41(b)		800		570,480
6.63%, 06/15/35		1,300		1,014,780
6.70%, 02/16/32 (Call 11/16/31)		3,450		2,854,875
6.75%, 09/21/47		2,800		1,935,500
6.84%, 01/23/30 (Call 10/23/29)		1,200		1,040,520
6.88%, 08/04/26		1,300		1,265,024
6.95%, 01/28/60 (Call 07/28/59)		1,900		1,300,265
7.69%, 01/23/50 (Call 07/23/49)		4,000		2,987,000
8.75%, 06/02/29 (Call 04/02/29)		1,000		973,750
Total Play Telecomunicaciones SA de CV
6.38%, 09/20/28 (Call 09/30/25)(a)		200		168,153
7.50%, 11/12/25 (Call 11/12/23)		400		373,080
				28,154,307
Moldova — 0.0%
Aragvi Finance International SR, 8.45%, 04/29/26 (Call 04/29/24)(a)		200		144,038
Morocco — 0.4%
OCP SA
3.75%, 06/23/31 (Call 03/23/31)(a)		200		168,500
4.50%, 10/22/25(a)		400		387,700

4

Schedule of Investments (unaudited) (continued)	iShares® J.P. Morgan EM High Yield Bond ETF
January 31, 2023	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
Morocco (continued)
5.13%, 06/23/51 (Call 12/23/50)(a)	$	400	$	310,000
5.63%, 04/25/24(a)		300		297,900
6.88%, 04/25/44(a)		400		385,000
				1,549,100
Nigeria — 0.4%
Access Bank PLC, 9.13%, (Call 10/07/26)(a)(c)(d)		400		329,950
IHS Holding Ltd.
5.63%, 11/29/26 (Call 11/29/23)(a)		200		167,670
6.25%, 11/29/28 (Call 11/29/24)(a)		200		163,713
IHS Netherlands Holdco BV, 8.00%, 09/18/27 (Call 03/02/23)(a)		600		538,988
SEPLAT Energy PLC, 7.75%, 04/01/26 (Call 04/01/23)(a)		400		347,200
				1,547,521
Oman — 0.2%
Bank Muscat SAOG, 4.75%, 03/17/26(a)		400		386,825
Oztel Holdings SPC Ltd., 6.63%, 04/24/28		250		259,109
				645,934
Panama — 0.2%
C&W Senior Financing DAC, 6.88%, 09/15/27 (Call 02/10/23)(a)(b)		600		570,768
Cable Onda SA, 4.50%, 01/30/30 (Call 01/30/25)(a)		200		176,125
				746,893
Paraguay — 0.2%
Bioceanico Sovereign Certificate Ltd., 0.00%, 06/05/34(a)(b)(f)		457		326,785
Telefonica Celular del Paraguay SA, 5.88%, 04/15/27 (Call 04/15/23)(a)		400		372,575
				699,360
Peru — 0.7%
Cia. De Minas Buenaventur Co., 5.50%, 07/23/26 (Call 07/23/23)(a)		400		350,000
Hunt Oil Co. of Peru LLC Sucursal Del Peru, 6.38%, 06/01/28(a)(b)		175		167,677
InRetail Consumer, 3.25%, 03/22/28 (Call 01/22/28)(a)		400		344,250
Minsur SA, 4.50%, 10/28/31(a)		200		177,750
Peru LNG Srl, 5.38%, 03/22/30(a)(b)		400		328,500
Petroleos del Peru SA
4.75%, 06/19/32(a)		400		305,000
5.63%, 06/19/47(a)		1,100		736,450
				2,409,627
Philippines — 0.7%
Globe Telecom Inc., 4.20%, (Call 08/02/26)(a)(c)(d)		400		367,450
JGSH Philippines Ltd., 4.13%, 07/09/30(a)		400		364,825
Manila Water Co. Inc., 4.38%, 07/30/30 (Call 07/30/25)(a)		200		175,500
Petron Corp., 5.95%, (Call 04/19/26)(a)(c)(d)		200		173,350
San Miguel Crop., 5.50%, (Call 07/29/25)(a)(c)(d)		200		184,250
SMC Global Power Holdings Corp.
5.45%, (Call 12/09/26)(a)(c)(d)		400		307,075
5.70%, (Call 01/21/26)(a)(c)(d)		200		164,163
6.50%, (Call 04/25/24)(a)(c)(d)		400		368,200
7.00%, (Call 10/21/25)(a)(c)(d)		400		362,325
				2,467,138
Poland — 0.1%
Canpack SA/Canpack U.S. LLC, 3.88%, 11/15/29 (Call 11/15/24)(a)		400		331,156
Qatar — 0.1%
Commercial Bank PSQC (The), 4.50%, (Call 03/03/26)(a)(c)(d)		400		369,200

Security	Par (000)		Value
Saudi Arabia — 0.4%
Arabian Centres Sukuk II Ltd., 5.63%, 10/07/26(a)	$	400	$	379,200
Arabian Centres Sukuk Ltd., 5.38%, 11/26/24(a)		200		195,350
Dar Al-Arkan Sukuk Co. Ltd., 6.75%, 02/15/25(a)		400		394,450
Riyad Tier 1 Sukuk Ltd., 4.00%, (Call 02/16/27)(a)(c)(d)		400		367,075
				1,336,075
Singapore — 0.3%
GLP Pte Ltd., 4.50%, (Call 05/17/26)(a)(c)(d)		400		270,500
Puma International Financing SA, 5.00%, 01/24/26 (Call 02/10/23)(a)		200		183,480
Singapore Airlines Ltd.
3.00%, 07/20/26 (Call 06/20/26)(a)		200		185,452
3.38%, 01/19/29 (Call 11/19/28)(a)		400		361,244
				1,000,676
South Africa — 1.3%
Absa Group Ltd., 6.38%, (Call 05/27/26)(a)(c)(d)		200		189,100
Bidvest Group UK PLC (The), 3.63%, 09/23/26 (Call 09/23/23)(a)		400		366,075
Eskom Holdings SOC Ltd.
6.35%, 08/10/28(a)		600		573,750
7.13%, 02/11/25(a)		460		438,955
FirstRand Bank Ltd., 6.25%, 04/23/28 (Call 04/23/23)(a)(c)		200		197,725
Liquid Telecommunications Financing Plc, 5.50%, 09/04/26 (Call 03/04/23)(a)		400		302,700
MTN Mauritius Investments Ltd., 6.50%, 10/13/26(a)		200		202,537
Sasol Financing USA LLC
4.38%, 09/18/26 (Call 09/18/25)(b)		200		184,020
5.50%, 03/18/31 (Call 03/18/30)(b)		400		347,960
5.88%, 03/27/24 (Call 02/27/24)		800		788,760
6.50%, 09/27/28 (Call 06/27/28)(b)		400		384,000
Stillwater Mining Co.
4.00%, 11/16/26 (Call 11/16/23)(a)		200		185,000
4.50%, 11/16/29 (Call 11/16/25)(a)		400		342,000
				4,502,582
South Korea — 0.1%
Woori Bank, 4.25%, (Call 10/04/24)(a)(c)(d)		200		191,350
Supranational — 0.2%
Eastern & Southern African Trade & Development Bank (The)
4.13%, 06/30/28(a)		400		334,472
4.88%, 05/23/24(a)		200		194,500
				528,972
Switzerland — 0.0%
Oriflame Investment Holding PLC, 5.13%, 05/04/26 (Call 05/15/23)(a)		200		127,550
Tanzania — 0.1%
HTA Group Ltd./Mauritius, 7.00%, 12/18/25 (Call 03/02/23)(a)		400		375,825
Thailand — 0.5%
Bangkok Bank PCL/Hong Kong
3.73%, 09/25/34 (Call 09/25/29)(a)(c)		600		528,000
5.00%, (Call 09/23/25)		400		384,500
Kasikornbank PCL/Hong Kong, 3.34%, 10/02/31 (Call 10/02/26)(a)(c)		600		536,238
Krung Thai Bank PCL/Cayman Islands, 4.40%, (Call 03/25/26)(a)(c)(d)		400		367,325
				1,816,063
Togo — 0.1%
Ecobank Transnational Inc., 9.50%, 04/18/24(a)		200		199,150

 5

Schedule of Investments (unaudited) (continued)	iShares® J.P. Morgan EM High Yield Bond ETF
January 31, 2023	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
Turkey — 2.2%
Akbank TAS
5.13%, 03/31/25(a)	$	200	$	189,537
6.80%, 02/06/26(a)		200		191,162
6.80%, 06/22/31 (Call 06/22/26)(a)(c)		400		358,950
Anadolu Efes Biracilik Ve Malt Sanayii AS, 3.38%, 06/29/28 (Call 03/29/28)(a)		200		155,250
Aydem Yenilenebilir Enerji AS, 7.75%, 02/02/27 (Call 02/02/24)(a)		400		330,575
Coca-Cola Icecek AS, 4.50%, 01/20/29 (Call 10/20/28)(a)		200		171,100
KOC Holding AS, 6.50%, 03/11/25 (Call 12/11/24)(a)		400		392,700
Mersin Uluslararasi Liman Isletmeciligi AS, 5.38%, 11/15/24 (Call 03/02/23)(a)		400		383,325
QNB Finansbank AS, 6.88%, 09/07/24(a)		400		404,075
Turk Telekomunikasyon AS
4.88%, 06/19/24(a)		200		188,000
6.88%, 02/28/25(a)		200		189,413
Turkcell Iletisim Hizmetleri AS
5.75%, 10/15/25(a)		200		187,788
5.80%, 04/11/28 (Call 01/11/28)(a)		200		173,145
Turkiye Garanti Bankasi AS, 7.18%, 05/24/27(a)(c)		400		366,575
Turkiye Is Bankasi AS
6.13%, 04/25/24(a)		600		587,737
7.00%, 06/29/28 (Call 06/29/23)(a)(c)		200		192,350
7.75%, 01/22/30 (Call 01/22/25)(a)(c)		400		374,075
Turkiye Petrol Rafinerileri AS, 4.50%, 10/18/24 (Call 07/20/24)(a)		400		380,575
Turkiye Sise ve Cam Fabrikalari AS, 6.95%, 03/14/26 (Call 12/14/25)(a)		300		290,400
Turkiye Vakiflar Bankasi TAO
6.50%, 01/08/26(a)		400		372,325
8.13%, 03/28/24(a)		200		200,037
Ulker Biskuvi Sanayi AS, 6.95%, 10/30/25(a)		400		353,575
Yapi ve Kredi Bankasi AS
5.85%, 06/21/24(a)		300		292,275
7.88%, 01/22/31 (Call 01/22/26)(a)(c)		200		188,038
8.25%, 10/15/24(a)		200		200,975
13.88%, (Call 01/15/24)(a)(c)(d)		400		416,200
				7,530,157
Ukraine — 0.0%
Metinvest BV, 7.75%, 10/17/29(a)		200		98,475
United Arab Emirates — 1.5%
ADIB Capital Invest 2 Ltd., 7.13%, (Call 09/20/23)(a)(c)(d)		400		401,950
Commercial Bank of Dubai PSC, 6.00%, (Call 04/21/26)(a)(c)(d)		400		394,950
DIB Tier 1 Sukuk 3 Ltd., 6.25%, (Call 01/22/25)(a)(c)(d)		400		403,000
DIB Tier 1 Sukuk 4 Ltd., 4.63%, (Call 05/19/26)(a)(c)(d)		400		385,575
DP World Salaam, 6.00%, (Call 10/01/25)(a)(c)(d)		800		800,500
Emirates NBD Bank PJSC
4.25%, (Call 02/27/27)(a)(c)(d)		400		370,950
6.13%, (Call 03/20/25)(a)(c)(d)		400		399,825
Energean Israel Finance Ltd.
4.50%, 03/30/24 (Call 12/30/23)(a)(g)		300		292,125
4.88%, 03/30/26 (Call 12/30/25)(a)(g)		350		327,862
GEMS MENASA Cayman Ltd./GEMS Education
Delaware LLC, 7.13%, 07/31/26 (Call 03/02/23)(a)		400		393,450
MAF Global Securities Ltd., 7.88%, (Call 06/30/27)(a)(c)(d)		400		415,575
Petrofac Ltd., 9.75%, 11/15/26 (Call 11/15/23)(a).		200		130,500
Shelf Drilling Holdings Ltd., 8.25%, 02/15/25 (Call 02/15/23)		470		442,975
				5,159,237

Security	Par (000)		Value
United Kingdom — 0.8%
Standard Chartered PLC
4.30%, (Call 08/19/28)	$	600	$	509,040
4.75%, (Call 01/14/31)(a)(c)(d)		600		509,040
6.00%, (Call 07/26/25)(a)(c)(d)		600		588,000
7.75%, (Call 04/02/23)(a)(c)(d)		600		598,500
7.75%, (Call 08/15/27)(a)(c)(d)		600		610,500
				2,815,080
United States — 0.1%
Playtika Holding Corp., 4.25%, 03/15/29 (Call 03/15/24)(a)		300		248,361
Sagicor Financial Co. Ltd., 5.30%, 05/13/28 (Call 05/13/24)(a)(b)		200		194,200
				442,561
Vietnam — 0.1%
Mong Duong Finance Holdings BV, 5.13%, 05/07/29 (Call 05/07/23)(a)		250		222,313
Zambia — 0.7%
First Quantum Minerals Ltd.
6.50%, 03/01/24 (Call 02/10/23)(a)		400		396,250
6.88%, 03/01/26 (Call 02/10/23)(a)		600		576,758
6.88%, 10/15/27 (Call 10/15/23)(a)		800		771,580
7.50%, 04/01/25 (Call 02/10/23)(a)		600		591,030
				2,335,618
Total Corporate Bonds & Notes — 49.7%
(Cost: $188,956,522)				171,952,622
Foreign Government Obligations(h)
Angola — 1.1%
Angolan Government International Bond
8.00%, 11/26/29(a)		800		742,000
8.25%, 05/09/28		800		754,000
8.75%, 04/14/32(a)		1,100		1,017,500
9.13%, 11/26/49(a)		600		525,000
9.38%, 05/08/48(a)		800		712,000
				3,750,500
Argentina — 3.1%
Argentine Republic Government International Bond
0.50%, 07/09/30 (Call 03/03/23)(i)		7,803		2,762,433
1.00%, 07/09/29 (Call 03/03/23)(b)		1,381		470,874
1.50%, 07/09/35 (Call 03/03/23)(i)		10,414		3,206,020
1.50%, 07/09/46 (Call 03/03/23)(i)		1,126		347,649
3.50%, 07/09/41 (Call 03/03/23)(b)(i)		5,254		1,783,600
3.88%, 01/09/38 (Call 03/03/23)(i)		5,699		2,082,808
				10,653,384
Azerbaijan — 0.1%
Republic of Azerbaijan International Bond, 3.50%, 09/01/32(a).		600		517,613
Bahrain — 2.2%
Bahrain Government International Bond
5.25%, 01/25/33(a)		600		528,750
5.45%, 09/16/32(a)		600		543,000
5.63%, 09/30/31(a)		400		371,500
5.63%, 05/18/34(a)		600		528,000
6.00%, 09/19/44(a)		600		480,750
6.75%, 09/20/29(a)		600		602,250
7.00%, 01/26/26(a)		600		621,862
7.00%, 10/12/28(a)		700		722,006
7.38%, 05/14/30(a)		400		414,500

6

Schedule of Investments (unaudited) (continued)	iShares® J.P. Morgan EM High Yield Bond ETF
January 31, 2023	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
Bahrain (continued)
CBB International Sukuk Co. 7 SPC, 6.88%, 10/05/25(a)	$	400	$	416,075
CBB International Sukuk Programme Co.
3.88%, 05/18/29(a)		550		497,338
3.95%, 09/16/27(a)		500		483,219
4.50%, 03/30/27(a)		600		590,550
6.25%, 11/14/24(a)		600		606,750
CBB International Sukuk Programme Co. WLL, 3.88%, 05/18/29(g)		75		67,819
				7,474,369
Bolivia — 0.1%
Bolivian Government International Bond, 4.50%, 03/20/28(a)		400		302,600
Brazil — 4.6%
Brazilian Government International Bond
2.88%, 06/06/25		1,000		950,500
3.75%, 09/12/31(b)		734		630,506
3.88%, 06/12/30(b)		1,700		1,502,162
4.25%, 01/07/25(b)		2,348		2,316,889
4.50%, 05/30/29 (Call 02/28/29)(b)		1,000		945,813
4.63%, 01/13/28 (Call 10/13/27)(b)		1,600		1,552,800
4.75%, 01/14/50 (Call 07/14/49)		2,050		1,503,931
5.00%, 01/27/45(b)		1,700		1,331,631
5.63%, 01/07/41		1,100		967,863
5.63%, 02/21/47		1,300		1,080,463
6.00%, 04/07/26(b)		1,000		1,038,625
7.13%, 01/20/37(b)		800		862,900
8.25%, 01/20/34(b)		650		751,684
8.88%, 04/15/24		450		465,694
				15,901,461
Colombia — 3.6%
Colombia Government International Bond
3.00%, 01/30/30 (Call 10/30/29)(b)		700		544,250
3.13%, 04/15/31 (Call 01/15/31)		1,200		906,975
3.25%, 04/22/32 (Call 01/22/32)(b)		1,000		736,500
3.88%, 04/25/27 (Call 01/25/27)(b)		800		724,150
3.88%, 02/15/61 (Call 08/15/60)(b)		600		344,925
4.13%, 02/22/42 (Call 08/22/41)		600		387,600
4.13%, 05/15/51 (Call 11/15/50)(b)		800		493,900
4.50%, 01/28/26 (Call 10/28/25)(b)		800		763,900
4.50%, 03/15/29 (Call 12/15/28)		1,000		882,375
5.00%, 06/15/45 (Call 12/15/44)		2,200		1,542,475
5.20%, 05/15/49 (Call 11/15/48)		1,450		1,021,616
5.63%, 02/26/44 (Call 08/26/43)		1,200		910,800
6.13%, 01/18/41		1,350		1,112,738
7.38%, 09/18/37(b)		900		873,450
7.50%, 02/02/34		400		395,800
8.00%, 04/20/33 (Call 01/20/33)		689		707,215
				12,348,669
Costa Rica — 0.5%
Costa Rica Government International Bond
6.13%, 02/19/31(a)(b)		400		391,575
7.00%, 04/04/44(a)		650		628,794
7.16%, 03/12/45(a)		600		587,362
				1,607,731
Dominican Republic — 3.2%
Dominican Republic International Bond
4.50%, 01/30/30(a)		1,000		869,250
4.88%, 09/23/32(a)		1,500		1,275,281
5.30%, 01/21/41(a)		700		560,569

Security	Par (000)		Value
Dominican Republic (continued)
5.50%, 01/27/25(a)	$	625	$	621,797
5.50%, 02/22/29 (Call 12/22/28)(a)		850		797,831
5.88%, 01/30/60(a)		1,650		1,265,653
5.95%, 01/25/27(a)		850		846,972
6.00%, 07/19/28(a)		800		783,900
6.00%, 02/22/33 (Call 11/22/32)(a)		850		786,250
6.40%, 06/05/49(a)		800		681,400
6.50%, 02/15/48(a)(b)		450		388,209
6.85%, 01/27/45(a)		1,000		914,563
6.88%, 01/29/26(a)		700		719,381
7.45%, 04/30/44(a)(b)		750		730,453
				11,241,509
Ecuador — 1.2%
Ecuador Government International Bond
0.00%, 07/31/30(a)(f)		542		230,493
1.50%, 07/31/40(a)(i)		1,688		707,206
2.50%, 07/31/35(a)(i)		4,240		2,058,782
5.50%, 07/31/30(a)(i)		1,856		1,231,410
				4,227,891
Egypt — 2.6%
Egypt Government International Bond
5.75%, 05/29/24(a)		600		564,000
5.80%, 09/30/27(a)		400		332,000
5.88%, 06/11/25(a)		800		734,000
5.88%, 02/16/31(a)		800		567,650
6.59%, 02/21/28(a)		600		496,500
7.05%, 01/15/32(a)		400		299,950
7.30%, 09/30/33(a)		800		584,000
7.50%, 01/31/27(a)		1,000		900,000
7.50%, 02/16/61(a)		600		388,500
7.60%, 03/01/29(a)		800		664,000
7.63%, 05/29/32(a)		1,000		760,500
7.90%, 02/21/48(a)		850		565,250
8.50%, 01/31/47(a)		1,300		916,500
8.70%, 03/01/49(a)		600		423,000
8.88%, 05/29/50(a)		1,000		711,250
				8,907,100
El Salvador — 0.2%
El Salvador Government International Bond
7.12%, 01/20/50 (Call 07/20/49)(a)		550		253,447
7.65%, 06/15/35(a)		450		216,506
9.50%, 07/15/52 (Call 01/15/52)(a)		550		286,619
				756,572
Ethiopia — 0.1%
Ethiopia International Bond, 6.63%, 12/11/24(a)		600		400,613
Gabon — 0.1%
Gabon Government International Bond, 6.63%, 02/06/31(a)		600		501,300
Ghana — 0.6%
Ghana Government International Bond
6.38%, 02/11/27(a)(j)(k)		800		296,000
7.63%, 05/16/29(a)(j)(k)		500		185,000
7.75%, 04/07/29(a)(j)(k)		600		222,000
7.88%, 02/11/35(a)(j)(k)		400		147,000
8.13%, 01/18/26(a)(j)(k)		470		185,650
8.13%, 03/26/32(a)(j)(k)		500		183,750
8.63%, 04/07/34(a)(j)(k)		400		147,000
8.63%, 06/16/49(a)(j)(k)		600		215,250
8.95%, 03/26/51(a)(j)(k)		500		181,250

 7

Schedule of Investments (unaudited) (continued)	iShares® J.P. Morgan EM High Yield Bond ETF
January 31, 2023	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
Ghana (continued)
10.75%, 10/14/30(a)(j)(k)	$	400	$	279,000
				2,041,900
Guatemala — 0.2%
Guatemala Government Bond, 6.13%, 06/01/50(Call 12/01/49)(a)		700		680,006
Iraq — 0.2%
Iraq International Bond, 5.80%, 01/15/28(Call 03/19/23)(a)		781		722,070
Ivory Coast — 0.1%
Ivory Coast Government International Bond, 6.13%, 06/15/33(a)		600		532,500
Jamaica — 0.7%
Jamaica Government International Bond
6.75%, 04/28/28(b)		600		638,175
7.88%, 07/28/45(b)		900		1,047,375
8.00%, 03/15/39(b)		600		717,300
				2,402,850
Jordan — 0.6%
Jordan Government International Bond
5.75%, 01/31/27(a)		600		586,050
5.85%, 07/07/30(a)		900		825,750
6.13%, 01/29/26(a)		400		397,075
7.38%, 10/10/47(a)		400		359,950
				2,168,825
Kenya — 0.7%
Republic of Kenya Government International Bond
6.30%, 01/23/34(a)		400		308,000
6.88%, 06/24/24(a)		1,000		935,000
7.25%, 02/28/28(a)		400		351,000
8.00%, 05/22/32(a)		600		519,000
8.25%, 02/28/48(a)		600		468,000
				2,581,000
Lebanon — 0.1%
Lebanon Government International Bond
0.00%, 01/27/23(a)(f)(j)(k)		500		32,125
0.00%, 10/04/24(f)(j)(k)		730		45,625
0.00%, 11/27/26(a)(f)(j)(k)		760		47,500
0.00%, 03/23/27(a)(f)(j)(k)		790		49,375
0.00%, 11/29/27(a)(f)(j)(k)		470		29,375
0.00%, 02/26/30(a)(f)(j)(k)		760		47,500
0.00%, 03/23/32(a)(f)(j)(k)		475		29,688
				281,188
Morocco — 0.2%
Morocco Government International Bond
3.00%, 12/15/32(a)		400		319,500
4.00%, 12/15/50(a)		600		409,500
				729,000
Nigeria — 1.6%
Nigeria Government International Bond
6.13%, 09/28/28(a)		800		620,000
6.50%, 11/28/27(a)		600		492,000
7.14%, 02/23/30(a)		714		542,640
7.38%, 09/28/33(a)		600		428,250
7.63%, 11/21/25(a)		500		456,250
7.63%, 11/28/47(a)		600		392,250
7.70%, 02/23/38(a)		600		413,175
7.88%, 02/16/32(a)		800		604,000

Security	Par (000)		Value
Nigeria (continued)
8.25%, 09/28/51(a)	$	600	$	403,500
8.38%, 03/24/29(a)		800		666,000
8.75%, 01/21/31(a)		600		486,750
				5,504,815
Oman — 3.7%
Oman Government International Bond
4.75%, 06/15/26(a)		1,000		977,062
4.88%, 02/01/25(a)		200		197,600
5.38%, 03/08/27(a)		1,000		996,750
5.63%, 01/17/28(a)		1,400		1,405,950
6.00%, 08/01/29(a)		1,400		1,429,575
6.25%, 01/25/31(a)		800		826,900
6.50%, 03/08/47(a)		1,000		953,750
6.75%, 10/28/27(a)		800		846,150
6.75%, 01/17/48(a)		1,400		1,373,750
7.00%, 01/25/51(a)		400		404,500
7.38%, 10/28/32(a)		600		668,363
Oman Sovereign Sukuk Co.
4.40%, 06/01/24(a)		1,000		993,750
4.88%, 06/15/30(a)		800		797,150
5.93%, 10/31/25(a)		800		822,000
				12,693,250
Pakistan — 0.4%
Pakistan Global Sukuk Programme Co. Ltd. (The), 7.95%, 01/31/29(a)		400		239,044
Pakistan Government International Bond
6.00%, 04/08/26(a)		800		344,088
6.88%, 12/05/27(a)		750		311,332
7.38%, 04/08/31(a)		800		328,088
8.25%, 04/15/24(a)		270		151,905
				1,374,457
Paraguay — 0.4%
Paraguay Government International Bond
4.95%, 04/28/31 (Call 01/28/31)(a)		400		387,450
5.40%, 03/30/50 (Call 09/30/49)(a)		600		534,113
6.10%, 08/11/44(a)		400		395,450
				1,317,013
Senegal — 0.2%
Senegal Government International Bond
6.25%, 05/23/33(a)		500		432,500
6.75%, 03/13/48(a)		600		448,500
				881,000
Serbia — 0.3%
Serbia International Bond
2.13%, 12/01/30(a)		535		406,533
6.50%, 09/26/33(g)		500		503,750
				910,283
South Africa — 2.5%
Republic of South Africa Government International Bond
4.30%, 10/12/28(b)		1,000		911,250
4.85%, 09/27/27(b)		400		384,500
4.85%, 09/30/29		1,100		1,001,000
4.88%, 04/14/26(b)		604		588,900
5.00%, 10/12/46		600		436,500
5.38%, 07/24/44		500		388,125
5.65%, 09/27/47		800		612,000
5.75%, 09/30/49(b)		1,350		1,026,000
5.88%, 09/16/25		986		990,190

8

Schedule of Investments (unaudited) (continued)	iShares® J.P. Morgan EM High Yield Bond ETF
January 31, 2023	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
South Africa (continued)
5.88%, 06/22/30	$	900	$	857,250
5.88%, 04/20/32		900		833,625
7.30%, 04/20/52		700		630,000
				8,659,340
Sri Lanka — 0.4%
Sri Lanka Government International Bond
6.20%, 05/11/27(a)(j)(k)		700		235,069
6.75%, 04/18/28(a)(j)(k)		700		232,827
6.83%, 07/18/26(a)(j)(k)		600		206,550
6.85%, 03/14/24(a)(j)(k)		600		203,737
6.85%, 11/03/25(a)(j)(k)		700		241,194
7.55%, 03/28/30(a)(j)(k)		400		134,325
7.85%, 03/14/29(a)(j)(k)		700		232,827
				1,486,529
Trinidad And Tobago — 0.1%
Trinidad & Tobago Government International Bond, 4.50%, 08/04/26(a)(b)		400		394,075
Tunisia — 0.1%
Tunisian Republic, 5.75%, 01/30/25(a)		400		259,700
Turkey — 10.1%
Hazine Mustesarligi Varlik Kiralama AS
4.49%, 11/25/24(a)		400		379,825
5.13%, 06/22/26(a)		1,200		1,083,600
7.25%, 02/24/27(a)		1,500		1,453,406
9.76%, 11/13/25(a)		1,400		1,442,000
Turkey Government International Bond
4.25%, 03/13/25		1,000		930,000
4.25%, 04/14/26		900		794,250
4.75%, 01/26/26(b)		800		722,000
4.88%, 10/09/26		1,500		1,323,750
4.88%, 04/16/43		1,370		864,812
5.13%, 02/17/28		1,200		1,026,000
5.25%, 03/13/30		1,100		878,625
5.60%, 11/14/24		1,100		1,056,000
5.75%, 03/22/24		1,250		1,224,062
5.75%, 05/11/47		1,800		1,201,500
5.88%, 06/26/31		900		729,000
5.95%, 01/15/31		1,200		987,000
6.00%, 03/25/27(b)		1,700		1,542,750
6.00%, 01/14/41		1,500		1,074,375
6.13%, 10/24/28		1,300		1,145,625
6.35%, 08/10/24(b)		1,050		1,028,869
6.38%, 10/14/25		1,200		1,143,000
6.50%, 09/20/33		900		735,750
6.63%, 02/17/45		1,600		1,200,000
6.75%, 05/30/40		950		750,500
6.88%, 03/17/36		1,300		1,067,625
7.25%, 03/05/38		500		440,625
7.38%, 02/05/25		1,570		1,558,225
7.63%, 04/26/29		1,400		1,309,000
8.00%, 02/14/34(b)		750		739,688
8.60%, 09/24/27		1,000		993,750
9.38%, 01/19/33		1,200		1,177,500
9.88%, 01/15/28		1,800		1,847,250
11.88%, 01/15/30(b)		700		823,375
Turkiye Vakiflar Bankasi TAO, 5.50%, 10/01/26(a)		200		177,350
				34,851,087

Security	Par/ Shares (000)		Value
Ukraine — 0.5%
Ukraine Government International Bond
6.88%, 05/21/31(a)(j)(k)	$	800	$	157,200
7.25%, 03/15/35(a)(j)(k)		1,200		233,850
7.38%, 09/25/32(a)(j)(k)		1,400		276,500
7.75%, 09/01/25(a)(j)(k)		625		142,695
7.75%, 09/01/26(a)(j)(k)		1,650		356,244
7.75%, 09/01/27(a)(j)(k)		675		143,986
7.75%, 09/01/29(a)(j)(k)		750		164,906
9.75%, 11/01/30(a)(j)(k)		800		173,650
				1,649,031
United Arab Emirates — 1.0%
Emirate of Dubai Government International Bonds
3.90%, 09/09/50(a)		600		454,613
5.25%, 01/30/43(a)		600		575,737
Finance Department Government of Sharjah, 4.00%, 07/28/50(a).		500		327,281
Sharjah Sukuk Program Ltd.
2.94%, 06/10/27(a)		400		362,200
3.23%, 10/23/29(a)		500		446,031
3.85%, 04/03/26(a)		400		381,825
4.23%, 03/14/28(a)		800		761,650
				3,309,337
Vietnam — 0.2%
Vietnam Government International Bond, 4.80%, 11/19/24(a)		600		591,066
Zambia — 0.1%
Zambia Government International Bond
8.50%, 04/14/24(a)(j)(k)		400		201,500
8.97%, 07/30/27(a)(j)(k)		600		300,000
				501,500
Total Foreign Government Obligations — 47.7%
(Cost: $210,301,353)				165,113,134
Total Long-Term Investments — 97.4%
(Cost: $399,257,875)				337,065,756
Short-Term Securities
Money Market Funds — 10.0%
BlackRock Cash Funds: Institutional, SL Agency Shares, 4.56%(l)(m)(n)		30,268		30,285,897
BlackRock Cash Funds: Treasury, SL Agency Shares, 4.18%(l)(m)		4,459		4,459,000
Total Short-Term Securities — 10.0%
(Cost: $34,720,615)				34,744,897
Total Investments — 107.4%
(Cost: $433,978,490)				371,810,653
Liabilities in Excess of Other Assets — (7.4)%				(25,685,545	)
Net Assets — 100.0%			$	346,125,108

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

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

^(c) Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available.

^(d) Perpetual security with no stated maturity date.

^(e) Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates.

 9

Schedule of Investments (unaudited) (continued)	iShares® J.P. Morgan EM High Yield Bond ETF
January 31, 2023

^(f) Zero-coupon bond.

^(g) 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.

^(h) U.S. dollar denominated security issued by foreign domiciled entity.

⁽ⁱ⁾ Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.

^(j) Issuer filed for bankruptcy and/or is in default.

^(k) Non-income producing security.

^(l) Affiliate of the Fund.

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

⁽ⁿ⁾ 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 January 31, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at 10/31/22		Purchases at Cost			Proceeds from Sale			Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value at 01/31/23		Shares Held at 01/31/23 (000)		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL Agency Shares	$	34,730,604	$	—		$	(4,474,635	)(a)	$	6,990	$	22,938	$	30,285,897		30,268	$	82,090	(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		2,469,000		1,990,000	(a)		—			—		—		4,459,000		4,459		20,797			2
									$	6,990	$	22,938	$	34,744,897			$	102,887		$	2

^(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.

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.

10

Schedule of Investments (unaudited) (continued)	iShares® J.P. Morgan EM High Yield Bond ETF
January 31, 2023

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
Assets
Investments
Long-Term Investments
Corporate Bonds & Notes	$	—	$	171,952,622	$	—	$	171,952,622
Foreign Government Obligations		—		165,113,134		—		165,113,134
Short-Term Securities
Money Market Funds		34,744,897		—		—		34,744,897
	$	34,744,897	$	337,065,756	$	—	$	371,810,653

Portfolio Abbreviation

OJSC	Open Joint Stock Company
PIK	Payment-in-kind
PJSC	Public Joint Stock Company

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