NPORT-EX 2 NPORT_2QWD_21666420_0723.htm

 

Schedule of Investments (unaudited) iShares® International High Yield Bond ETF
July 31, 2023 (Percentages shown are based on Net Assets)

 

Security    Par
(000)		   Value 
           
Corporate Bonds & Notes          
           
Austria — 0.4%          
ams-OSRAM AG, 6.00%, 07/31/25 (Call 07/31/23)(a)  EUR100   $98,834 
Benteler International AG, 9.38%, 05/15/28 (Call 05/15/25)  EUR 100    111,522 
         210,356 
Belgium — 0.2%          
Telenet Finance Luxembourg Notes Sarl, 3.50%, 03/01/28 (Call 12/01/23)(a)  EUR 100    102,576 
           
Canada — 1.4%          
Air Canada, 4.63%, 08/15/29 (Call 02/15/26)(b)  CAD 325    221,334 
Brookfield Residential Properties Inc./Brookfield Residential U.S. LLC, 5.13%, 06/15/29 (Call 06/15/24)(b)  CAD 75    46,781 
Mattamy Group Corp., 4.63%, 03/01/28 (Call 03/01/24)(a)  CAD 50    33,870 
Parkland Corp.          
3.88%, 06/16/26 (Call 06/16/24)(b)  CAD 150    105,136 
4.38%, 03/26/29 (Call 03/26/24)  CAD 75    49,642 
Southern Pacific Resource Corp., 8.75%, 01/25/18(b)(c)(d)(e)  CAD 50    — 
Tamarack Valley Energy Ltd., 7.25%, 05/10/27(b)  CAD 25    17,809 
Videotron Ltd.          
3.13%, 01/15/31 (Call 01/15/26)  CAD 100    58,852 
3.63%, 06/15/28 (Call 06/15/24)(b)  CAD 150    98,579 
4.50%, 01/15/30 (Call 10/15/24)  CAD 150    99,590 
         731,593 
Cyprus — 0.2%          
Bank of Cyprus PCL, 2.50%, 06/24/27 (Call 06/24/26)(a)(f)  EUR 100    96,568 
           
Czech Republic — 0.2%          
Allwyn Entertainment Financing U.K. PLC, 7.25%, 04/30/30 (Call 04/30/26)(a)  EUR 100    112,072 
           
France — 14.6%          
Accor SA          
2.38%, 11/29/28 (Call 08/29/28)(a)  EUR 100    100,234 
3.00%, 02/04/26 (Call 11/04/25)(a)  EUR 100    106,071 
Adevinta ASA          
2.63%, 11/15/25 (Call 11/15/23)(a)  EUR 100    105,521 
3.00%, 11/15/27 (Call 11/15/23)(a)  EUR 100    102,937 
Altice France SA, 2.13%, 02/15/25 (Call 01/29/24)(a)    150    144,453 
Altice France SA/France          
2.50%, 01/15/25 (Call 09/15/23)(a)  EUR 100    97,224 
3.38%, 01/15/28 (Call 09/15/23)(a)  EUR 100    76,738 
4.13%, 01/15/29 (Call 09/15/23)(a)  EUR 100    75,954 
4.25%, 10/15/29 (Call 10/15/24)(a)  EUR 100    75,362 
5.88%, 02/01/27 (Call 08/01/23)(a)  EUR 250    210,375 
Atos SE          
1.00%, 11/12/29 (Call 08/12/29)(a)  EUR 200    127,699 
1.75%, 05/07/25 (Call 02/07/25)(a)  EUR 100    86,353 
Banijay Entertainment SASU, 3.50%, 03/01/25          
(Call 03/01/24)(a)  EUR 100    107,636 
Banijay Group SAS, 6.50%, 03/01/26 (Call 09/01/23)(a)  EUR 100    108,262 
CAB SELAS, 3.38%, 02/01/28 (Call 02/01/24)  EUR 200    187,015 
Casino Guichard Perrachon SA          
5.25%, 04/15/27 (Call 04/15/24)(a)(c)(e)  EUR 100    1,358 
6.63%, 01/15/26 (Call 01/15/24)(a)(c)(e)  EUR 100    1,440 
CGG SA, 7.75%, 04/01/27 (Call 04/01/24)(a)  EUR 100    92,140 
Chrome Bidco SASU, 3.50%, 05/31/28 (Call 05/31/24)(a)  EUR 100    94,926 
Chrome Holdco SASU, 5.00%, 05/31/29 (Call 05/31/24)(a)  EUR 100    84,672 
Elis SA          
1.63%, 04/03/28 (Call 01/03/28)(a)  EUR 100    98,180 
2.88%, 02/15/26 (Call 11/15/25)(a)  EUR 100    106,672 
Security  Par
(000)		   Value 
           
France (continued)          
4.13%, 05/24/27 (Call 02/24/27)(a)  EUR 100   $109,575 
Emeria SASU          
3.38%, 03/31/28 (Call 03/31/24)(a)  EUR 100    86,039 
7.75%, 03/31/28 (Call 02/07/25)(a)  EUR 100    101,815 
Eramet SA          
5.88%, 05/21/25 (Call 02/21/25)  EUR 100    111,044 
7.00%, 05/22/28 (Call 02/22/28)  EUR 100    110,873 
Faurecia SE          
2.38%, 06/15/27 (Call 06/15/24)(a)  EUR 100    99,562 
2.63%, 06/15/25 (Call 08/30/23)(a)  EUR 200    212,739 
2.75%, 02/15/27 (Call 02/15/24)(a)  EUR 225    228,686 
3.13%, 06/15/26 (Call 06/15/24)(a)  EUR 100    104,984 
3.75%, 06/15/28 (Call 06/15/24)(a)  EUR 200    204,835 
7.25%, 06/15/26 (Call 11/15/24)(a)  EUR 100    115,214 
Iliad Holding SASU          
5.13%, 10/15/26 (Call 10/15/23)(a)  EUR 150    159,521 
5.63%, 10/15/28 (Call 10/15/24)(a)  EUR 100    104,075 
iliad SA  EUR       
1.50%, 10/14/24 (Call 07/14/24)(a)  EUR 100    106,157 
1.88%, 04/25/25 (Call 01/25/25)(a)  EUR 200    209,056 
1.88%, 02/11/28 (Call 11/11/27)(a)  EUR 100    95,464 
5.38%, 06/14/27 (Call 03/14/27)(a)  EUR 200    219,674 
5.63%, 02/15/30 (Call 11/15/29)(a)  EUR 100    108,839 
IPD 3 BV, 8.00%, 06/15/28 (Call 06/15/25)(a)  EUR 100    113,213 
La Financiere Atalian SASU, 4.00%, 05/15/24          
(Call 08/10/23)(a)  EUR 100    80,499 
Loxam SAS          
2.88%, 04/15/26 (Call 04/10/24)(a)  EUR 100    101,755 
4.50%, 02/15/27 (Call 02/15/24)(a)  EUR 175    184,296 
6.38%, 05/15/28 (Call 05/15/25)(a)  EUR 100    109,973 
Paprec Holding SA          
3.50%, 07/01/28 (Call 07/01/24)(a)  EUR 100    99,451 
4.00%, 03/31/25 (Call 08/10/23)(a)  EUR 100    108,163 
Parts Europe SA, 6.50%, 07/16/25 (Call 01/15/24)(a)  EUR 100    110,095 
Picard Groupe SAS, 3.88%, 07/01/26 (Call 07/01/24)(a)  EUR 200    206,087 
RCI Banque SA, 2.63%, 02/18/30 (Call 02/18/25)(a)(f)  EUR 100    102,988 
Renault SA          
1.00%, 11/28/25 (Call 08/28/25)(a)  EUR 70    72,085 
1.25%, 06/24/25 (Call 03/24/25)(a)  EUR 200    206,772 
2.00%, 09/28/26 (Call 06/28/26)(a)  EUR 100    101,625 
2.38%, 05/25/26 (Call 02/25/26)(a)  EUR 200    207,290 
2.50%, 06/02/27 (Call 03/02/27)(a)  EUR 200    201,442 
2.50%, 04/01/28 (Call 01/01/28)(a)  EUR 100    99,401 
Rexel SA, 2.13%, 12/15/28 (Call 12/15/24)(a)  EUR 100    98,229 
SPCM SA, 2.00%, 02/01/26 (Call 09/15/23)(a)  EUR 100    102,833 
Tereos Finance Groupe I SA          
7.25%, 04/15/28 (Call 04/15/25)(a)  EUR 100    114,329 
7.50%, 10/30/25 (Call 10/30/23)(a)  EUR 100    112,377 
Valeo          
1.00%, 08/03/28 (Call 05/03/28)(a)  EUR 200    183,364 
1.50%, 06/18/25 (Call 03/18/25)(a)  EUR 100    104,708 
5.38%, 05/28/27 (Call 02/28/27)(a)  EUR 100    111,361 
         7,611,710 
Germany — 10.2%          
Bayer AG          
2.38%, 11/12/79 (Call 02/12/25)(a)(f)  EUR 100    102,448 
3.13%, 11/12/79 (Call 08/12/27)(a)(f)  EUR 200    192,781 
3.75%, 07/01/74 (Call 07/01/24)(a)(f)  EUR 52    55,652 
5.38%, 03/25/82 (Call 06/25/30)(a)(f)  EUR 100    102,941 

1

 

Schedule of Investments (unaudited) (continued) iShares® International High Yield Bond ETF
July 31, 2023 (Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
                 
Germany (continued)                
Series N5.5, 4.50%, Series N5.5, 03/25/82                
(Call 06/25/27)(a)(f)   EUR 100     $ 104,233  
Bertelsmann SE & Co. KGaA, 3.50%, 04/23/75              
(Call 04/23/27)(a)(f)   EUR  100       100,917  
Cheplapharm Arzneimittel GmbH                
4.38%, 01/15/28 (Call 01/15/24)(a)   EUR  150       152,541  
7.50%, 05/15/30 (Call 05/15/25)(a)   EUR 100       111,954  
Commerzbank AG                
4.00%, 03/23/26(a)   EUR 200       215,121  
4.00%, 03/30/27(a)   EUR 100       107,647  
6.50%, 12/06/32 (Call 09/06/27)(a)(f)   EUR 100       110,100  
6.75%, 10/05/33 (Call 07/05/28)(f)   EUR 100       110,042  
8.63%, 02/28/33 (Call 11/28/27)(a)(f)   GBP 100       127,412  
Commerzbank Ag Subordinated, 1.38%, 12/29/31                
(Call 09/29/26)(a)(f)   EUR 100       92,369  
Deutsche Lufthansa AG                
2.00%, 07/14/24 (Call 06/14/24)(a)   EUR 100       107,188  
2.88%, 02/11/25 (Call 01/11/25)(a)   EUR 200       213,084  
2.88%, 05/16/27 (Call 02/16/27)(a)   EUR 100       101,129  
3.00%, 05/29/26 (Call 02/28/26)(a)   EUR 300       312,856  
3.50%, 07/14/29 (Call 04/14/29)(a)   EUR 100       100,174  
Douglas GmbH, 6.00%, 04/08/26 (Call 04/15/24)(a)   EUR 200       207,109  
Evonik Industries AG, 1.38%, 09/02/81 (Call 09/02/26)(a)(f)   EUR 100       90,524  
Gruenenthal GmbH                
3.63%, 11/15/26 (Call 05/15/24)(a)   EUR 100       104,585  
6.75%, 05/15/30 (Call 05/15/26)(a)   EUR 100       114,028  
Gruenenthal GMBH, 4.13%, 05/15/28 (Call 05/15/24)(a)   EUR 100       104,002  
Nidda Healthcare Holding GmbH, 7.50%, 08/21/26                
(Call 04/30/24)(a)   EUR 200       219,392  
Schaeffler AG                
2.75%, 10/12/25 (Call 07/12/25)(a)   EUR 100       105,953  
2.88%, 03/26/27 (Call 12/26/26)(a)   EUR 75       78,686  
3.38%, 10/12/28 (Call 07/12/28)(a)   EUR 200       202,696  
Techem Verwaltungsgesellschaft 675 mbH, 2.00%, 07/15/25 (Call 01/15/24)(a)   EUR 250       263,727  
thyssenkrupp AG, 2.50%, 02/25/25(a)   EUR 100       107,287  
TK Elevator Holdco GmbH, 6.63%, 07/15/28                
(Call 07/15/24)(a)   EUR 90       86,045  
TK Elevator Midco GmbH, 4.38%, 07/15/27                
(Call 07/15/24)(a)   EUR 100       99,878  
ZF Europe Finance BV                
2.00%, 02/23/26 (Call 12/23/25)(a)   EUR 100       101,672  
2.50%, 10/23/27 (Call 07/23/27)(a)   EUR 100       98,792  
3.00%, 10/23/29 (Call 07/23/29)(a)   EUR 100       95,422  
ZF Finance GmbH                
2.00%, 05/06/27 (Call 02/06/27)(a)   EUR 100       98,262  
2.25%, 05/03/28 (Call 02/03/28)(a)   EUR 100       95,666  
2.75%, 05/25/27 (Call 02/25/27)(a)   EUR 100       101,113  
3.00%, 09/21/25 (Call 06/21/25)(a)   EUR 100       105,275  
3.75%, 09/21/28 (Call 06/21/28)(a)   EUR 100       101,599  
5.75%, 08/03/26 (Call 07/03/26)(a)   EUR 200       223,215  
              5,325,517  
Gibraltar — 0.2%                
888 Acquisitions Ltd., 7.56%, 07/15/27 (Call 07/15/24)(a)   EUR 100       102,760  
                 
Greece — 2.8%                
Alpha Bank SA                
2.50%, 03/23/28 (Call 03/23/27)(a)(f)   EUR 100       94,910  
7.50%, 06/16/27 (Call 06/16/26)(a)(f)   EUR 100       113,177  

 

Security  Par
(000)		   Value 
          
Greece (continued)         
Alpha Services and Holdings SA, 4.25%, 02/13/30         
(Call 02/13/25)(a)(f)  EUR 100   $98,674 
Eurobank SA         
2.25%, 03/14/28 (Call 03/14/27)(a)(f)  EUR 100    94,798 
7.00%, 01/26/29 (Call 01/26/28)(a)(f)  EUR 200    225,780 
National Bank of Greece SA         
2.75%, 10/08/26 (Call 10/08/25)(a)(f)  EUR 100    102,994 
7.25%, 11/22/27 (Call 11/22/26)(a)(f)  EUR 100    113,935 
Piraeus Bank SA         
7.25%, 07/13/28 (Call 07/13/27)(f)  EUR 150    165,359 
8.25%, 01/28/27 (Call 01/28/26)(a)(f)  EUR 100    113,579 
Piraeus Financial Holdings SA, 5.50%, 02/19/30         
(Call 02/19/25)(a)(f)  EUR 100    101,444 
Public Power Corp. SA         
3.38%, 07/31/28 (Call 07/31/24)(a)  EUR 100    101,199 
4.38%, 03/30/26 (Call 03/30/24)(a)  EUR 100    106,768 
        1,432,617 
Ireland — 0.6%         
eircom Finance DAC         
1.75%, 11/01/24 (Call 11/01/23)(a)  EUR 100    107,702 
3.50%, 05/15/26 (Call 05/15/24)(a)  EUR 100    103,455 
Permanent TSB Group Holdings PLC, 6.63%, 06/30/29         
(Call 06/30/28)(f)  EUR 100    111,462 
        322,619 
Israel — 2.1%         
Teva Pharmaceutical Finance Netherlands II BV         
1.13%, 10/15/24(a)  EUR 100    105,011 
1.63%, 10/15/28(a)  EUR 150    127,741 
1.88%, 03/31/27 (Call 12/31/26)(a)  EUR 100    93,670 
3.75%, 05/09/27 (Call 02/09/27)  EUR 250    248,590 
4.38%, 05/09/30 (Call 02/09/30)  EUR 200    188,194 
4.50%, 03/01/25 (Call 12/01/24)  EUR 100    108,423 
7.38%, 09/15/29 (Call 06/15/29)  EUR 100    111,886 
7.88%, 09/15/31 (Call 06/15/31)  EUR 100    114,246 
        1,097,761 
Italy — 15.9%         
Atlantia SpA         
1.63%, 02/03/25(a)  EUR 100    104,899 
1.88%, 07/13/27 (Call 04/13/27)(a)  EUR 175    172,475 
1.88%, 02/12/28 (Call 11/12/27)(a)  EUR 200    191,243 
Banca IFIS SpA, 6.13%, 01/19/27(a)  EUR 100    110,042 
Banca Monte dei Paschi di Siena SpA         
1.88%, 01/09/26(a)  EUR 100    98,197 
2.63%, 04/28/25(a)  EUR 100    103,211 
3.63%, 09/24/24(a)  EUR 200    213,526 
6.75%, 03/02/26 (Call 03/02/25),         
(3-mo. EURIBOR + 3.206%)(a)(f)  EUR 125    137,595 
10.50%, 07/23/29(a)  EUR 100    109,754 
Banca Popolare di Sondrio SpA, 1.25%, 07/13/27         
(Call 07/13/26)(a)(f)  EUR 100    98,100 
Banco BPM SpA         
1.75%, 01/28/25(a)  EUR 200    210,939 
3.25%, 01/14/31 (Call 01/14/26)(a)(f)  EUR 100    101,038 
4.88%, 01/18/27(a)  EUR 100    110,916 
5.00%, 09/14/30 (Call 09/14/25)(a)(f)  EUR 100    108,017 
6.00%, 09/13/26(a)  EUR 150    170,316 
6.00%, 01/21/28 (Call 01/21/27),         
(3-mo. EURIBOR + 3.300%)(a)(f)  EUR 150    167,761 
6.00%, 06/14/28 (Call 06/14/27)(f)  EUR 150    165,885 

2

 

Schedule of Investments (unaudited) (continued) iShares® International High Yield Bond ETF
July 31, 2023 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
          
Italy (continued)         
BPER Banca         
1.88%, 07/07/25(a)  EUR 100   $105,073 
3.88%, 07/25/32 (Call 01/25/27)(a)(f)  EUR 200    190,698 
6.13%, 02/01/28 (Call 02/01/27),         
(3-mo. EURIBOR + 3.600%)(a)(f)  EUR 150    168,517 
Brunello Bidco SpA, 3.50%, 02/15/28 (Call 02/15/24)(a)  EUR 100    94,172 
Castor SpA, 6.00%, 02/15/29 (Call 03/15/25)(a)  EUR 100    94,767 
Centurion Bidco SpA, 5.88%, 09/30/26 (Call 09/30/23)(a)  EUR 100    100,575 
Credito Emiliano SpA, 5.63%, 05/30/29 (Call 05/30/28)(f)  EUR 150    167,356 
Engineering - Ingegneria Informatica - SpA, 11.13%, 05/15/28 (Call 05/15/25)(a)  EUR 100    109,735 
Fiber Bidco SpA, 11.00%, 10/25/27 (Call 10/25/24)(a)  EUR 100    118,462 
Grifols SA, 2.25%, 11/15/27 (Call 11/15/23)(a)  EUR 100    99,270 
Iccrea Banca SpA         
2.13%, 01/17/27 (Call 01/17/26),         
(3-mo. EURIBOR + 2.280%)(a)(f)  EUR 100    101,340 
4.13%, 11/28/29 (Call 11/28/24)(a)(f)  EUR 100    104,012 
6.38%, 09/20/27 (Call 09/20/26),         
(3-mo. EURIBOR + 4.077%)(a)(f)  EUR 100    112,172 
6.88%, 01/20/28 (Call 01/20/27),         
(3-mo. EURIBOR + 4.045%)(a)(f)  EUR 100    113,581 
IMA Industria Macchine Automatiche SpA, 3.75%, 01/15/28 (Call 01/15/24)(a)  EUR 100    99,473 
Infrastrutture Wireless Italiane SpA         
1.63%, 10/21/28 (Call 07/21/28)(a)  EUR 100    96,790 
1.75%, 04/19/31 (Call 01/19/31)(a)  EUR 100    92,668 
1.88%, 07/08/26 (Call 04/08/26)(a)  EUR 150    153,951 
Intesa Sanpaolo SpA         
2.86%, 04/23/25(a)  EUR 100    106,705 
2.93%, 10/14/30(a)  EUR 100    94,342 
3.93%, 09/15/26(a)  EUR 200    215,564 
5.15%, 06/10/30(a)  GBP 100    106,962 
6.18%, 02/20/34 (Call 11/20/28)(a)(f)  EUR 200    222,149 
Lottomatica SpA         
7.13%, 06/01/28 (Call 06/01/25)(a)  EUR 100    112,755 
9.75%, 09/30/27 (Call 09/30/24)(a)  EUR 100    119,054 
Mediobanca Banca di Credito Finanziario SpA, 3.75%, 06/16/26  EUR   50    53,190 
Nexi SpA         
1.63%, 04/30/26 (Call 01/30/26)(a)  EUR 200    203,226 
2.13%, 04/30/29 (Call 01/30/29)(a)  EUR 150    141,692 
Rossini Sarl, 6.75%, 10/30/25 (Call 10/30/23)(a)  EUR 100    110,533 
Saipem Finance International BV         
2.63%, 01/07/25(a)  EUR 100    105,981 
3.13%, 03/31/28 (Call 12/31/27)(a)  EUR 100    99,732 
Telecom Italia SpA         
6.88%, 02/15/28 (Call 11/15/27)(a)  EUR 300    325,652 
7.88%, 07/31/28 (Call 04/30/28)(a)  EUR 100    111,547 
Telecom Italia SpA/Milano         
1.63%, 01/18/29 (Call 10/18/28)(a)  EUR 100    83,237 
2.38%, 10/12/27 (Call 07/12/27)(a)  EUR 100    92,547 
2.75%, 04/15/25 (Call 01/15/25)(a)  EUR 200    208,061 
2.88%, 01/28/26 (Call 10/28/25)(a)  EUR 300    305,118 
3.00%, 09/30/25(a)  EUR 100    103,573 
3.63%, 05/25/26(a)  EUR 100    103,131 
UniCredit SpA         
2.00%, 09/23/29 (Call 09/23/24)(a)(f)  EUR 200    209,491 
2.73%, 01/15/32 (Call 01/15/27)(a)(f)  EUR 200    194,160 
Webuild SpA         
1.75%, 10/26/24(a)  EUR 150    157,845 
Security  Par
(000)		   Value 
          
Italy (continued)         
3.88%, 07/28/26 (Call 01/28/26)(a)  EUR 100   $102,495 
5.88%, 12/15/25 (Call 06/15/25)(a)  EUR 100    109,099 
        8,294,367 
Japan — 1.4%         
SoftBank Group Corp.         
2.88%, 01/06/27 (Call 10/06/26)(a)  EUR 100    99,837 
3.13%, 09/19/25 (Call 06/21/25)(a)  EUR 100    104,125 
3.38%, 07/06/29 (Call 04/06/29)(a)  EUR 125    118,278 
3.88%, 07/06/32 (Call 04/06/32)(a)  EUR 100    88,902 
4.00%, 09/19/29 (Call 06/21/29)(a)  EUR 100    96,653 
4.50%, 04/20/25 (Call 01/20/25)(a)  EUR 100    108,125 
5.00%, 04/15/28 (Call 01/16/28)(a)  EUR 100    105,471 
        721,391 
Luxembourg — 3.6%         
Altice Financing SA         
2.25%, 01/15/25 (Call 01/15/24)(a)  EUR 100    98,492 
3.00%, 01/15/28 (Call 01/15/24)(a)  EUR 200    161,599 
4.25%, 08/15/29 (Call 08/15/24)(a)  EUR 100    79,345 
Altice Finco SA, 4.75%, 01/15/28 (Call 10/15/23)(a)  EUR 100    59,265 
Altice France Holding SA         
4.00%, 02/15/28 (Call 08/30/23)(a)  EUR 100    36,173 
8.00%, 05/15/27 (Call 05/15/24)(a)  EUR 200    84,644 
Cidron Aida Finco Sarl, 5.00%, 04/01/28 (Call 04/01/24)(a)  EUR 100    99,881 
Garfunkelux Holdco 3 SA, 6.75%, 11/01/25         
(Call 11/01/23)(a)  EUR 100    80,059 
INEOS Finance PLC         
2.13%, 11/15/25 (Call 08/10/23)(a)  EUR 100    102,866 
2.88%, 05/01/26 (Call 05/01/24)(a)  EUR 175    176,522 
6.63%, 05/15/28 (Call 02/15/25)(a)  EUR 100    107,186 
Matterhorn Telecom SA, 3.13%, 09/15/26 (Call 09/15/23)(a)  EUR 200    207,166 
Mytilineos Financial Partners SA, 2.50%, 12/01/24         
(Call 06/01/24)(a)  EUR 200    213,247 
Summer BC Holdco A Sarl, 9.25%, 10/31/27         
(Call 10/31/23)(a)  EUR 90    79,848 
Summer BC Holdco B Sarl, 5.75%, 10/31/26         
(Call 10/31/23)(a)  EUR 150    146,872 
Vivion Investments Sarl         
3.00%, 08/08/24(a)  EUR 100    91,878 
3.50%, 11/01/25(a)  EUR 100    76,457 
        1,901,500 
Netherlands — 3.2%         
OI European Group BV, 2.88%, 02/15/25 (Call 02/15/24)(a)  EUR 100    107,225 
PPF Telecom Group BV         
3.13%, 03/27/26 (Call 12/27/25)(a)  EUR 100    105,761 
3.25%, 09/29/27 (Call 06/29/27)(a)  EUR 100    103,408 
Q-Park Holding I BV, 2.00%, 03/01/27 (Call 03/01/24)(a)  EUR 100    96,849 
Sigma Holdco BV, 5.75%, 05/15/26 (Call 08/10/23)(a)  EUR 100    96,575 
SNS Bank NV, 0.00%, 10/26/20(d)  EUR 50    — 
Trivium Packaging Finance BV, 3.75%, 08/15/26         
(Call 08/15/23)(a)  EUR 100    100,898 
United Group BV         
3.63%, 02/15/28 (Call 02/15/24)(a)  EUR 100    88,650 
4.63%, 08/15/28 (Call 08/15/24)(a)  EUR 100    90,363 
4.88%, 07/01/24 (Call 08/10/23)(a)  EUR 100    108,686 
5.25%, 02/01/30 (Call 02/01/25)(a)  EUR 100    88,498 
UPC Holding BV, 3.88%, 06/15/29 (Call 06/15/24)(a)  EUR 100    90,652 
VZ Vendor Financing II BV, 2.88%, 01/15/29         
(Call 12/18/23)(a)  EUR 200    176,387 

3

 

Schedule of Investments (unaudited) (continued) iShares® International High Yield Bond ETF
July 31, 2023 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
          
Netherlands (continued)         
WP/AP Telecom Holdings III BV, 5.50%, 01/15/30         
(Call 01/15/25)(a)  EUR 100   $93,153 
WP/AP Telecom Holdings IV BV, 3.75%, 01/15/29         
(Call 01/15/25)(a)  EUR 100    97,825 
Ziggo Bond Co. BV, 3.38%, 02/28/30 (Call 02/15/25)(a)  EUR 150    126,366 
Ziggo BV, 2.88%, 01/15/30 (Call 10/15/24)(a)  EUR 100    91,697 
        1,662,993 
Portugal — 2.1%         
Banco Comercial Portugues SA         
1.75%, 04/07/28 (Call 04/07/27),         
(3-mo. EURIBOR + 2.000%)(a)(f)  EUR 100    94,257 
4.00%, 05/17/32 (Call 11/17/26)(a)(f)  EUR 100    89,485 
8.50%, 10/25/25 (Call 10/25/24),         
(3-mo. EURIBOR + 5.547%)(f)  EUR 100    113,591 
Caixa Geral de Depositos SA, 1.25%, 11/25/24(a)  EUR 100    105,589 
EDP - Energias de Portugal SA         
1.50%, 03/14/82 (Call 12/14/26)(a)(f)  EUR 100    94,282 
1.70%, 07/20/80 (Call 04/20/25)(a)(f)  EUR 100    101,141 
1.88%, 08/02/81 (Call 05/02/26)(a)(f)  EUR 100    98,075 
5.94%, 04/23/83 (Call 01/23/28)(a)(f)  EUR 200    219,076 
Energias De Portugal SA, 1.88%, 03/14/82         
(Call 06/14/29)(a)(f)  EUR 100    86,161 
Novo Banco SA, 9.88%, 12/01/33 (Call 06/01/28)(f)  EUR 100    114,045 
        1,115,702 
Spain — 8.4%         
Abanca Corp. Bancaria SA         
4.63%, 04/07/30 (Call 04/07/25)(a)(f)  EUR 100    104,558 
8.38%, 09/23/33 (Call 06/23/28)(a)(f)  EUR 100    111,604 
Banco de Credito Social Cooperativo SA         
1.75%, 03/09/28 (Call 03/09/27)(a)(f)  EUR 100    91,611 
8.00%, 09/22/26 (Call 09/22/25)(a)(f)  EUR 100    112,859 
Banco de Sabadell SA         
0.88%, 06/16/28 (Call 06/16/27)(a)(f)  EUR 100    94,137 
1.13%, 03/27/25(a)  EUR 100    103,896 
2.00%, 01/17/30 (Call 01/17/25)(a)(f)  EUR 100    101,598 
2.50%, 04/15/31 (Call 01/15/26)(a)  EUR 100    97,761 
2.63%, 03/24/26 (Call 03/24/25)(a)(f)  EUR 100    105,553 
5.25%, 02/07/29 (Call 02/07/28)(a)(f)  EUR 100    109,762 
5.38%, 09/08/26 (Call 09/08/25)(a)(f)  EUR 100    110,475 
6.00%, 08/16/33 (Call 05/16/28)(a)(f)  EUR 100    103,893 
Banco do Brasil SA/Cayman, 5.25%, 11/27/31         
(Call 05/27/26)(a)(f)  EUR 100    93,280 
Cellnex Finance Co. SA         
0.75%, 11/15/26 (Call 08/15/26)(a)  EUR 200    195,813 
1.00%, 09/15/27 (Call 06/15/27)(a)  EUR 100    95,918 
1.25%, 01/15/29 (Call 10/15/28)(a)  EUR 200    184,853 
1.50%, 06/08/28 (Call 03/08/28)(a)  EUR 100    95,589 
2.00%, 09/15/32 (Call 06/15/32)(a)  EUR 300    263,702 
2.00%, 02/15/33 (Call 11/15/32)(a)  EUR 200    173,858 
2.25%, 04/12/26 (Call 01/12/26)(a)  EUR 100    103,906 
Cellnex Telecom SA         
1.00%, 04/20/27 (Call 01/20/27)(a)  EUR 100    97,573 
1.75%, 10/23/30 (Call 07/23/30)(a)  EUR 100    90,125 
1.88%, 06/26/29 (Call 03/26/29)(a)  EUR 100    94,049 
Cirsa Finance International Sarl         
4.50%, 03/15/27 (Call 09/15/23)(a)  EUR 100    101,236 
7.88%, 07/31/28 (Call 07/19/25)  EUR 100    110,446 
10.38%, 11/30/27 (Call 11/09/24)(a)  EUR 100    118,742 
Security  Par
(000)		   Value 
          
Spain (continued)         
Grifols Escrow Issuer SA, 3.88%, 10/15/28         
(Call 10/15/24)(a)  EUR 250   $236,221 
Grifols SA         
1.63%, 02/15/25 (Call 02/15/24)(a)  EUR 150    158,554 
3.20%, 05/01/25 (Call 08/30/23)(a)  EUR 100    106,322 
Ibercaja Banco SA, 2.75%, 07/23/30 (Call 07/23/25)(a)(f)  EUR 100    99,667 
Kaixo Bondco Telecom SA, 5.13%, 09/30/29         
(Call 09/30/24)(a)  EUR 100    97,175 
Lorca Telecom Bondco SA, 4.00%, 09/18/27         
(Call 09/30/23)(a)  EUR 400    411,298 
Unicaja Banco SA         
2.88%, 11/13/29 (Call 11/13/24)(a)(f)  EUR 100    100,585 
7.25%, 11/15/27 (Call 11/15/26)(a)(f)  EUR 100    113,038 
        4,389,657 
Sweden — 3.5%         
Fastighets AB Balder, 2.87%, 06/02/81 (Call 03/02/26)(a)(f)  EUR 100    71,987 
Intrum AB         
3.00%, 09/15/27 (Call 09/15/23)(a)  EUR 200    153,373 
3.50%, 07/15/26 (Call 07/15/24)(a)  EUR 175    149,105 
4.88%, 08/15/25 (Call 08/15/23)(a)  EUR 100    97,132 
Samhallsbyggnadsbolaget, 1.00%, 08/12/27         
(Call 05/12/27)(a)  EUR 100    68,282 
Samhallsbyggnadsbolaget i Norden AB, 1.13%, 09/04/26 (Call 06/04/26)(a)  EUR 100    73,805 
SBB Treasury OYJ         
0.75%, 12/14/28 (Call 09/14/28)(a)  EUR 175    110,319 
1.13%, 11/26/29 (Call 08/26/29)(a)  EUR 125    76,539 
Stena International SA, 3.75%, 02/01/25 (Call 01/29/24)(a)  EUR 100    106,395 
Verisure Holding AB         
3.25%, 02/15/27 (Call 02/15/24)(a)  EUR 150    148,997 
3.88%, 07/15/26 (Call 07/15/24)(a)  EUR 200    207,178 
7.13%, 02/01/28 (Call 02/01/25)(a)  EUR 100    111,795 
9.25%, 10/15/27 (Call 10/15/24)(a)  EUR 100    117,610 
Verisure Midholding AB, 5.25%, 02/15/29 (Call 02/15/24)(a)  EUR 150    143,958 
Volvo Car AB         
2.50%, 10/07/27 (Call 07/07/27)(a)  EUR 100    100,642 
4.25%, 05/31/28 (Call 02/28/28)(a)  EUR 100    106,982 
        1,844,099 
Switzerland — 0.8%         
Dufry One BV         
2.00%, 02/15/27 (Call 02/15/24)(a)  EUR 100    97,742 
2.50%, 10/15/24 (Call 08/30/23)(a)  EUR 100    107,464 
3.38%, 04/15/28 (Call 04/15/24)(a)  EUR 100    99,973 
Wizz Air Finance Co. BV, 1.00%, 01/19/26         
(Call 11/19/25)(a)  EUR 100    96,746 
        401,925 
United Kingdom — 12.5%         
BCP V Modular Services Finance II PLC, 4.75%, 11/30/28 (Call 11/30/24)(a)  EUR 200    186,384 
Bellis Acquisition Co. PLC         
3.25%, 02/16/26 (Call 02/24/24)(a)  GBP 300    330,137 
4.50%, 02/16/26 (Call 02/24/24)(a)  GBP 100    112,549 
Bellis Finco PLC, 4.00%, 02/16/27 (Call 02/24/24)(a)  GBP 100    98,850 
British Telecommunications PLC         
1.87%, 08/18/80 (Call 05/18/25)(a)(f)  EUR 100    99,631 
8.38%, 12/20/83 (Call 09/20/28)(f)  GBP 125    160,516 
Canary Wharf Group Investment Holdings PLC         
2.63%, 04/23/25 (Call 03/23/25)(a)  GBP 100    105,140 
3.38%, 04/23/28 (Call 01/23/28)(a)  GBP 100    88,240 

4

 

Schedule of Investments (unaudited) (continued) iShares® International High Yield Bond ETF
July 31, 2023 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
          
United Kingdom (continued)         
Castle U.K. Finco PLC, 7.00%, 05/15/29 (Call 05/15/25)(a)  GBP 100   $99,929 
Centrica PLC, 5.25%, 04/10/75 (Call 04/10/25)(a)(f)  GBP 100    122,445 
Deuce Finco PLC, 5.50%, 06/15/27 (Call 06/15/24)(a)  GBP 100    109,972 
eG Global Finance PLC         
4.38%, 02/07/25 (Call 08/30/23)(a)  EUR 100    105,579 
6.25%, 10/30/25 (Call 10/25/23)(a)  EUR   92    98,207 
Heathrow Finance PLC, 3.88%, 03/01/27(a)(g)  GBP 100    109,915 
Iceland Bondco PLC, 4.38%, 05/15/28 (Call 02/15/24)(a)  GBP 100    101,741 
INEOS Quattro Finance 1 PLC, 3.75%, 07/15/26         
(Call 01/15/24)(a)  EUR 100    94,539 
INEOS Quattro Finance 2 PLC, 2.50%, 01/15/26         
(Call 01/15/24)(a)  EUR 100    97,485 
INEOS Styrolution Group GmbH, 2.25%, 01/16/27         
(Call 01/15/24)(a)  EUR 100    92,917 
International Consolidated Airlines Group SA         
2.75%, 03/25/25 (Call 12/25/24)(a)  EUR 100    106,272 
3.75%, 03/25/29 (Call 12/25/28)(a)  EUR 200    194,025 
Jaguar Land Rover Automotive PLC         
4.50%, 01/15/26 (Call 10/15/25)(a)  EUR 150    161,138 
4.50%, 07/15/28 (Call 07/15/24)(a)  EUR 100    101,628 
Jerrold Finco PLC, 4.88%, 01/15/26 (Call 01/15/24)(a)  GBP 100    111,870 
Market Bidco Finco PLC, 5.50%, 11/04/27         
(Call 11/04/24)(a)  GBP 200    200,453 
Motion Finco Sarl, 7.38%, 06/15/30 (Call 06/15/26)(a)  EUR 125    135,864 
NGG Finance PLC         
1.63%, 12/05/79 (Call 12/05/24)(a)(f)  EUR 100    104,388 
2.13%, 09/05/82 (Call 06/05/27)(a)(f)  EUR 100    95,698 
5.63%, 06/18/73 (Call 06/18/25)(a)(f)  GBP 200    244,553 
Pinewood Finance Co. Ltd., 3.63%, 11/15/27         
(Call 11/15/23)(a)  GBP 175    190,596 
Pinnacle Bidco PLC         
5.50%, 02/15/25 (Call 01/15/24)(a)  EUR 100    108,111 
6.38%, 02/15/25 (Call 08/10/23)(a)  GBP 100    125,187 
Rolls-Royce PLC         
1.63%, 05/09/28 (Call 02/09/28)(a)  EUR 100    94,825 
3.38%, 06/18/26  GBP 100    116,192 
4.63%, 02/16/26 (Call 11/16/25)(a)  EUR 100    109,512 
Sherwood Financing PLC, 4.50%, 11/15/26         
(Call 11/15/23)(a)  EUR 100    94,618 
Stonegate Pub Co. Financing 2019 PLC, 8.25%, 07/31/25 (Call 07/31/23)(a)  GBP 200    239,605 
Thames Water Utilities Finance PLC, 2.88%, 05/03/27(a)  GBP 100    99,818 
Virgin Media Finance PLC, 3.75%, 07/15/30         
(Call 07/15/25)(a)  EUR 100    89,037 
Virgin Media Secured Finance PLC         
4.13%, 08/15/30 (Call 08/15/25)(a)  GBP 100    101,577 
4.25%, 01/15/30 (Call 10/15/24)(a)  GBP 100    103,235 
5.00%, 04/15/27 (Call 04/15/24)(a)  GBP 100    117,009 
Virgin Media Vendor Financing Notes III DAC, 4.88%, 07/15/28 (Call 07/15/24)(a)  GBP 100    104,420 
Vmed O2 UK Financing I PLC         
3.25%, 01/31/31 (Call 01/31/26)(a)  EUR 100    92,442 
4.00%, 01/31/29 (Call 01/31/24)(a)  GBP 100    104,220 
4.50%, 07/15/31 (Call 07/15/26)(a)  GBP 200    202,856 
Vodafone Group PLC         
2.63%, 08/27/80 (Call 05/27/26)(a)(f)  EUR 100    100,150 
3.00%, 08/27/80 (Call 05/27/30)(a)(f)  EUR 250    227,205 
4.20%, 10/03/78 (Call 07/03/28)(a)(f)  EUR 100    102,305 
4.88%, 10/03/78 (Call 10/03/25)(a)(f)  GBP 100    120,053 
6.50%, 08/30/84 (Call 05/30/29)(a)(f)  EUR 100    111,449 
Security  Par
(000)		   Value 
          
United Kingdom (continued)         
8.00%, 08/30/86 (Call 05/30/31)(f)  GBP 100   $128,078 
        6,552,565 
United States — 13.8%         
Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl         
3.63%, 06/01/28 (Call 06/01/24)(a)  EUR 100    87,501 
4.88%, 06/01/28 (Call 06/01/24)(a)  GBP 100    98,630 
Alpha Services and Holdings SA, 5.50%, 06/11/31         
(Call 03/11/26)(a)(f)  EUR 100    99,673 
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, 3.00%, 09/01/29 (Call 05/15/24)(a)  EUR 100    83,237 
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc.         
2.13%, 08/15/26 (Call 08/15/23)(a)  EUR 100    99,282 
4.75%, 07/15/27 (Call 07/15/24)(a)  GBP 100    103,403 
Ashland Services BV, 2.00%, 01/30/28 (Call 11/01/27)(a)  EUR 100    94,284 
Avantor Funding Inc., 2.63%, 11/01/25 (Call 11/01/23)(a)  EUR 100    105,120 
Avis Budget Finance PLC         
4.13%, 11/15/24 (Call 08/30/23)(a)  EUR 100    109,679 
7.25%, 07/31/30 (Call 07/31/26)(a)  EUR 100    109,964 
Ball Corp., 1.50%, 03/15/27 (Call 12/15/26)  EUR 100    98,737 
Belden Inc., 3.88%, 03/15/28 (Call 03/06/24)(a)  EUR 150    154,562 
Boxer Parent Co. Inc., 6.50%, 10/02/25 (Call 06/01/24)(a)  EUR 100    109,000 
Brookfield Property Finance ULC         
3.93%, 08/24/25 (Call 07/24/25)  CAD 100    70,435 
4.00%, 09/30/26 (Call 08/30/26)  CAD 75    50,504 
7.13%, 02/13/28 (Call 01/13/28)  CAD 75    54,375 
Carnival PLC, 1.00%, 10/28/29 (Call 07/28/29)  EUR 100    73,017 
Catalent Pharma Solutions Inc., 2.38%, 03/01/28 (Call 03/01/24)(a)  EUR 150    138,406 
Chemours Co. (The), 4.00%, 05/15/26 (Call 05/15/24)  EUR 100    101,937 
Clarios Global LP/Clarios US Finance Co., 4.38%, 05/15/26 (Call 05/15/24)(a)  EUR 100    106,622 
Constellium SE, 3.13%, 07/15/29 (Call 07/15/24)(a)  EUR 100    94,031 
Coty Inc., 3.88%, 04/15/26 (Call 04/15/24)(a)  EUR 100    106,851 
Crown European Holdings SA         
2.63%, 09/30/24 (Call 03/30/24)(a)  EUR 100    107,620 
2.88%, 02/01/26 (Call 08/01/25)(a)  EUR 100    106,183 
3.38%, 05/15/25 (Call 11/15/24)(a)  EUR 100    108,057 
5.00%, 05/15/28 (Call 04/15/28)(a)  EUR 100    111,184 
Dana Financing Luxembourg Sarl, 8.50%, 07/15/31 (Call 07/15/26)(a)  EUR 100    115,151 
Darling Global Finance BV, 3.63%, 05/15/26         
(Call 08/10/23)(a)  EUR 100    107,435 
Emerald Debt Merger Sub LLC, 6.38%, 12/15/30 (Call 06/15/26)(a)  EUR 100    109,924 
Encore Capital Group Inc.         
4.88%, 10/15/25 (Call 10/15/23)(a)  EUR 100    103,322 
5.38%, 02/15/26 (Call 11/15/23)(a)  GBP 100    112,863 
Energizer Gamma Acquisition BV, 3.50%, 06/30/29 (Call 06/16/24)(a)  EUR 100    89,521 
Ford Credit Canada Co, 2.96%, 09/16/26 (Call 08/16/26)  CAD 100    67,458 
Ford Credit Canada Co.         
4.46%, 11/13/24  CAD 75    55,301 
7.00%, 02/10/26  CAD 100    76,024 
7.38%, 05/12/26  CAD 100    76,590 
Ford Motor Credit Co. LLC         
1.36%, 02/07/25  EUR 100    104,405 
2.33%, 11/25/25  EUR 100    104,218 
2.39%, 02/17/26  EUR 125    130,031 

5

 

Schedule of Investments (unaudited) (continued) iShares® International High Yield Bond ETF
July 31, 2023 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
          
United States (continued)         
3.25%, 09/15/25  EUR 200   $212,780 
4.54%, 03/06/25  GBP 100    122,428 
4.87%, 08/03/27  EUR 100    109,955 
6.13%, 05/15/28  EUR 100    114,708 
6.86%, 06/05/26  GBP 100    126,020 
Goodyear Europe BV, 2.75%, 08/15/28 (Call 08/15/24)(a)  EUR 100    96,916 
International Game Technology PLC         
2.38%, 04/15/28 (Call 04/15/24)(a)  EUR 100    98,329 
3.50%, 06/15/26 (Call 06/15/24)  EUR 150    159,499 
IQVIA Inc.         
1.75%, 03/15/26 (Call 03/15/24)(a)  EUR 100    102,138 
2.25%, 01/15/28 (Call 07/15/24)(a)  EUR 150    147,896 
2.25%, 03/15/29 (Call 03/15/24)(a)  EUR 200    191,227 
2.88%, 06/15/28 (Call 06/15/24)(a)  EUR 100    100,804 
Iron Mountain UK PLC, 3.88%, 11/15/25 (Call 08/10/23)(a)  GBP 100    120,243 
Levi Strauss & Co., 3.38%, 03/15/27 (Call 03/15/24)  EUR 100    104,317 
MPT Operating Partnership LP/MPT Finance Corp.         
2.50%, 03/24/26 (Call 02/24/26)  GBP 100    103,702 
3.33%, 03/24/25 (Call 12/24/24)  EUR 100    99,597 
3.38%, 04/24/30 (Call 01/24/30)  GBP 100    85,101 
Novelis Sheet Ingot GmbH, 3.38%, 04/15/29         
(Call 04/15/24)(a)  EUR 100    96,544 
OI European Group BV, 6.25%, 05/15/28 (Call 05/15/25)(a)  EUR 100    113,268 
Olympus Water U.S. Holding Corp.         
3.88%, 10/01/28 (Call 10/01/24)(a)  EUR 100    86,843 
9.63%, 11/15/28 (Call 06/01/25)(a)  EUR 100    106,004 
Organon & Co./Organon Foreign Debt Co.-Issuer BV, 2.88%, 04/30/28 (Call 04/30/24)(a)  EUR 200    193,453 
Primo Water Holdings Inc., 3.88%, 10/31/28         
(Call 10/31/23)(a)  EUR 100    96,295 
SCIL IV LLC/SCIL USA Holdings LLC, 9.50%, 07/15/28 (Call 07/15/25)(a)  EUR 100    111,844 
Silgan Holdings Inc.         
2.25%, 06/01/28 (Call 03/01/24)  EUR 100    94,343 
3.25%, 03/15/25 (Call 08/30/23)  EUR 100    107,302 
Spectrum Brands Inc., 4.00%, 10/01/26 (Call 10/01/23)(a)  EUR 100    104,787 
Standard Industries Inc./NJ, 2.25%, 11/21/26         
(Call 08/21/26)(a)  EUR 100    97,961 
WMG Acquisition Corp., 2.25%, 08/15/31 (Call 08/15/26)(a)  EUR 100    88,884 
        7,227,725 
          
Total Corporate Bonds & Notes — 98.1%         
(Cost: $55,068,241)       51,258,073 
Security  Shares
(000)		   Value 
           
Common Stocks          
           
Jersey — 0.0%          
Sentry Holdings Ltd.Class A   0(h)  $— 
           
Total Common Stocks — 0.0%          
(Cost: $159,437)        — 
           
Total Long-Term Investments — 98.1%          
(Cost: $55,227,678)        51,258,073 
           
Short-Term Securities          
           
Money Market Funds — 0.0%          
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.22%(i)(j)   10    10,000 
           
Total Short-Term Securities — 0.0%          
(Cost: $10,000)        10,000 
           
Total Investments — 98.1%          
(Cost: $55,237,678)        51,268,073 
           
Other Assets Less Liabilities — 1.9%        998,843 
           
Net Assets — 100.0%       $52,266,916 

 

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

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

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

(e)Non-income producing security.

(f)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.

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

(h)Rounds to less than 1,000.

(i)Affiliate of the Fund.

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

 

Affiliates

 

Investments in issuers considered to be affiliate(s) of the Fund during the period ended July 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 07/31/23   Shares Held at 07/31/23 (000)   Income   Capital Gain Distributions from Underlying Funds 
BlackRock Cash Funds: Treasury, SL Agency Shares  $10,000   $0(a)  $—   $—   $—   $10,000    10   $231   $— 

 

(a)Represents net amount purchased (sold).

 

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Schedule of Investments (unaudited) (continued) iShares® International High Yield Bond ETF
July 31, 2023  

 

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.

 

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  $—   $51,258,073   $—   $51,258,073 
Common Stocks   —    —    —    — 
Short-Term Securities                    
Money Market Funds   10,000    —    —    10,000 
   $10,000   $51,258,073   $—   $51,268,073 

 

Portfolio Abbreviation
CAB Capital Appreciation Bonds
EURIBOR Euro Interbank Offered Rate
   
Currency Abbreviations
 
CAD Canadian Dollar
EUR Euro
GBP British Pound

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