Schedule of Investments (unaudited)	iShares^® Frontier and Select EM ETF
November 30, 2023	(Percentages shown are based on Net Assets)

Security	Shares		Value

Common Stocks

Bahrain — 0.9%
Aluminium Bahrain BSC		1,857,144	$	5,320,200

Bangladesh — 3.7%
Bangladesh Export Import Co. Ltd.		2,820,442		2,957,307
Beacon Pharmaceuticals Ltd./Bangladesh		686,541		1,525,647
Beximco Pharmaceuticals Ltd.		1,561,396		2,070,531
Blue Owl Technology Finance Corp.		2,870,284		5,463,432
BRAC Bank Ltd.		2,581,004		838,095
British American Tobacco Bangladesh Co. Ltd.		314,507		1,479,680
City Bank Ltd. (The)		3,231,479		627,244
GrameenPhone Ltd.		321,524		835,817
International Finance Investment & Commerce Bank Ltd.		6,894,741		700,418
LafargeHolcim Bangladesh Ltd.		2,655,963		1,650,190
National Bank Ltd.^(a)		6,888,003		518,553
Olympic Industries Ltd.		600,255		779,651
Renata Ltd.		85,181		940,970
Robi Axiata Ltd., NVS		5,148,805		1,401,035
Summit Power Ltd.		1,314,517		405,384
				22,193,954
Colombia — 2.0%
Bancolombia SA		734,492		5,801,533
Interconexion Electrica SA ESP		1,680,870		6,345,354
				12,146,887
Egypt — 4.8%
Abou Kir Fertilizers & Chemical Industries		2,419,215		3,855,854
Commercial International Bank Egypt SAE		12,255,325		18,998,537
Eastern Co. SAE		7,548,289		3,925,677
Egyptian Financial Group-Hermes Holding Co.^(a)		6,937,716		2,571,665
				29,351,733
Estonia — 1.2%
Enefit Green AS, NVS		685,489		2,596,620
LHV Group AS, NVS		571,532		2,149,400
Tallink Grupp AS^(a)		2,236,888		1,655,192
Tallinna Kaubamaja Grupp AS		62,722		675,902
				7,077,114
Jordan — 2.2%
Arab Bank PLC		485,856		3,040,238
Capital Bank of Jordan		148,161		415,532
Jordan Ahli Bank, NVS		167,820		255,437
Jordan Islamic Bank		124,719		729,454
Jordan Petroleum Refinery Co.		725,578		4,804,803
Jordan Phosphate Mines Co.		210,988		3,211,430
Jordanian Electric Power Co.		375,638		1,027,042
				13,483,936
Kazakhstan — 10.8%
Halyk Savings Bank of Kazakhstan JSC, GDR^(b)		445,539		6,460,316
Kaspi.KZ JSC^(b)		392,621		40,047,342
NAC Kazatomprom JSC, GDR^(b)		493,610		19,028,665
				65,536,323
Kenya — 1.0%
Equity Group Holdings PLC/Kenya		8,677,066		1,933,770
KCB Group PLC		7,276,516		837,479
Safaricom PLC		36,957,905		3,170,464
				5,941,713
Lithuania — 0.8%
AB Ignitis Grupe		172,215		3,602,907
Siauliu Bankas AB		1,210,577		938,199
				4,541,106

Security	Shares		Value

Malta — 0.6%
MAS P.L.C.		4,292,717	$	3,871,985

Morocco — 5.9%
Akdital Holding, NVS		35,073		1,711,573
Attijariwafa Bank		232,890		10,568,969
Banque Centrale Populaire		88,463		2,331,630
Douja Promotion Groupe Addoha SA		953,180		1,558,386
Hightech Payment Systems SA, NVS		20,000		1,222,733
Itissalat Al-Maghrib		1,429,651		13,160,187
Societe d’Exploitation des Ports		204,331		5,515,154
				36,068,632
Nigeria — 2.5%
Access Bank PLC		87,072,126		1,322,983
Afriland Properties PLC^(a)		8,020		13
Dangote Cement PLC		11,938,113		3,224,692
FBN Holdings PLC		84,216,832		1,567,509
Guaranty Trust Holding Co. PLC		63,861,123		2,102,344
MTN Nigeria Communications PLC		11,008,838		2,211,674
Nestle Nigeria PLC		1,310,924		1,272,559
United Bank for Africa PLC		79,997,106		1,441,700
Zenith Bank PLC		69,373,073		1,990,281
				15,133,755
Oman — 3.5%
Abraj Energy Services SAOG, NVS		1,497,094		1,185,856
Bank Muscat SAOG		7,780,453		5,497,722
Bank Nizwa SAOG		2,108,869		547,687
National Bank of Oman SAOG		1,066,114		789,099
Oman Telecommunications Co. SAOG		3,793,160		10,624,650
Omani Qatari Telecommunications Co. SAOG		2,232,774		1,971,544
Renaissance Services SAOG		819,778		851,607
				21,468,165
Pakistan — 3.9%
Engro Corp. Ltd./Pakistan		1,582,155		1,616,760
Engro Fertilizers Ltd.		3,337,479		1,178,717
Fauji Fertilizer Co. Ltd.		2,558,395		1,006,139
Habib Bank Ltd.		1,249,574		488,329
Hub Power Co. Ltd. (The)		8,645,636		3,699,697
Lucky Cement Ltd.		2,183,177		6,012,657
Mari Petroleum Co. Ltd.		166,931		997,631
MCB Bank Ltd.		1,082,771		635,642
Millat Tractors Ltd.		974,328		1,998,099
Oil & Gas Development Co. Ltd.		4,358,738		1,659,600
Pakistan Oilfields Ltd.		888,224		1,351,717
Pakistan Petroleum Ltd.		3,453,223		1,109,019
Systems Ltd.		1,023,427		1,650,090
United Bank Ltd./Pakistan		303,936		193,083
				23,597,180
Peru — 4.6%
Cia. de Minas Buenaventura SAA, ADR		437,920		4,177,757
Credicorp Ltd.		91,046		11,429,004
Southern Copper Corp.		168,994		12,155,739
				27,762,500
Philippines — 5.5%
Aboitiz Equity Ventures Inc.		1,991,940		1,684,488
Alliance Global Group Inc.		3,655,400		645,574
AREIT Inc.		1,648,200		886,624
Ayala Corp.		209,950		2,512,807
Ayala Land Inc.		4,580,700		2,576,766
Bank of the Philippine Islands		529,508		986,417
BDO Unibank Inc.		769,728		1,853,066
Bloomberry Resorts Corp.^(a)		4,502,000		782,921

Schedule of Investments (unaudited) (continued)	iShares^® Frontier and Select EM ETF
November 30, 2023	(Percentages shown are based on Net Assets)

Security	Shares		Value

Philippines (continued)
Century Pacific Food Inc.		2,389,400	$	1,309,024
Converge Information and Communications Technology Solutions Inc.^(a)		3,266,200		483,631
GT Capital Holdings Inc.		150,060		1,467,158
International Container Terminal Services Inc.		608,180		2,366,953
JG Summit Holdings Inc.		966,810		670,791
Jollibee Foods Corp.		277,300		1,132,553
LT Group Inc.		1,432,700		228,468
Manila Electric Co.		229,290		1,486,192
Megaworld Corp.		29,543,000		1,096,513
Metropolitan Bank & Trust Co.		144,440		130,020
PLDT Inc.		145,160		3,353,758
Puregold Price Club Inc.		1,308,200		641,251
Robinsons Land Corp.		622,800		162,952
Security Bank Corp.		59,720		75,874
SM Prime Holdings Inc.		7,816,900		4,550,115
Universal Robina Corp.		703,040		1,426,898
Wilcon Depot Inc.		2,965,600		1,130,338
				33,641,152
Romania — 10.8%
Banca Transilvania SA		3,095,529		15,581,385
BRD-Groupe Societe Generale SA^(a)		838,133		3,039,880
MED Life SA^(a)		1,764,565		1,580,819
OMV Petrom SA		116,198,008		13,745,236
One United Properties SA		3,991,636		821,864
Societatea De Producere A Energiei Electrice in Hidrocentrale Hidroelectrica SA^(a)		561,750		15,835,902
Societatea Energetica Electrica SA		1,014,819		2,173,945
Societatea Nationala de Gaze Naturale ROMGAZ SA		715,149		7,513,070
Societatea Nationala Nuclearelectrica SA		342,643		3,568,729
Teraplast SA^(a)		3,432,630		352,255
TTS Transport Trade Services SA, NVS		262,280		1,430,493
				65,643,578
Sri Lanka — 0.8%
Commercial Bank of Ceylon PLC^(a)		1,321,376		350,356
John Keells Holdings PLC		6,874,288		4,012,617
Sampath Bank PLC		2,492,590		515,970
				4,878,943
Vietnam — 31.2%
Bank for Foreign Trade of Vietnam JSC^(a)		2,450,210		8,555,475
Bank for Investment and Development of Vietnam JSC^(a)		1,379,803		2,210,204
Binh Dinh Pharmaceutical & Medical Equipment JSC, NVS		340,500		826,688
CEO Group JSC		1,731,100		1,540,294
DABACO Vietnam Group JSC, NVS		1,045,300		1,064,258
Dat Xanh Group JSC^(a)		1,840,680		1,522,074
Development Investment Construction^(a)		2,110,354		2,155,073
Digiworld Corp., NVS		541,400		1,128,633
Duc Giang Chemicals JSC		1,188,394		4,631,397
EVN Finance JSC, NVS		2,198,400		1,540,511
FPT Digital Retail JSC		519,645		2,194,046
Gelex Group JSC^(a)		3,853,984		3,415,410
Ha Do Group JSC^(a)		944,085		1,075,687
HAGL JSC^(a)		2,802,300		1,287,949
Hoa Phat Group JSC^(a)		18,065,103		19,785,347
Hoa Sen Group^(a)		2,356,740		2,087,028
Hoang Huy Investment Financial Services JSC		1,704,900		874,938
IDICO Corp. JSC		1,000,650		2,021,099
Khang Dien House Trading and Investment JSC^(a)		2,398,396		3,087,535

Security	Shares		Value

Vietnam (continued)
KIDO Group Corp.^(a)		1,165,772	$	2,878,390
Kinh Bac City Development Share Holding Corp.^(a)		2,477,360		3,177,953
Kosy JSC, NVS		790,600		1,261,180
Masan Group Corp.^(a)		3,878,356		9,678,400
Nam Kim Steel JSC^(a)		1,490,900		1,413,467
Novaland Investment Group Corp.^(a)		5,956,533		4,365,658
PC1 Group JSC, NVS^(a)		1,686,015		1,858,432
PetroVietNam Ca Mau Fertilizer JSC		821,200		1,083,199
PetroVietnam Drilling & Well Services JSC^(a)		1,690,034		1,948,381
PetroVietnam Fertilizer & Chemicals JSC		971,400		1,319,486
PetroVietnam Gas JSC		331,640		1,045,995
PetroVietnam Power Corp.^(a)		5,394,540		2,501,878
PetroVietnam Technical Services Corp.		1,453,098		2,312,019
Petrovietnam Transportation Corp.		981,800		1,060,312
Phat Dat Real Estate Development Corp.^(a)		2,028,336		2,280,548
Saigon - Hanoi Commercial Joint Stock Bank^(a)		5,741,303		2,557,188
Saigon Beer Alcohol Beverage Corp.		1,058,960		2,832,609
Saigon-Hanoi Securities^(a)		2,466,350		1,844,011
Song da Urban & Industrial Zone Investment & Development JSC, NVS		331,700		988,537
SSI Securities Corp.		6,271,441		8,091,316
Tasco JSC^(a)		1,184,600		971,704
Thaiholdings JSC^(a)		96,740		138,770
Thanh Thanh Cong - Bien Hoa JSC^(a)		2,652,397		1,441,891
Van Phu - Invest Investment JSC		747,080		1,696,789
Viet Capital Securities JSC		1,834,970		3,139,798
Vietjet Aviation JSC^(a)		1,023,390		4,302,527
Vietnam Construction and Import-Export JSC^(a)		2,473,388		2,317,752
Vietnam Dairy Products JSC		4,906,974		13,618,689
Vietnam Export Import Commercial JSB, NVS		3,252,434		2,440,035
Viettel Construction Joint Stock Corp., NVS		250,700		950,717
Vincom Retail JSC^(a)		5,635,080		5,134,169
Vingroup JSC^(a)		7,395,834		12,727,785
Vinh Hoan Corp.		529,800		1,442,699
Vinhomes JSC^(a)(c)		9,397,388		15,999,354
VIX Securities JSC^(a)		4,864,700		3,287,234
Vndirect Securities Corp.^(a)		5,357,240		4,627,527
				189,740,045

Total Common Stocks — 96.7%
(Cost: $554,803,030)				587,398,901

Preferred Stocks

Colombia — 1.4%
Bancolombia SA, Preference Shares, NVS		1,224,762		8,478,500

Total Preferred Stocks — 1.4%
(Cost: $7,972,164)				8,478,500

Total Investments — 98.1%
(Cost: $562,775,194)				595,877,401

Other Assets Less Liabilities — 1.9%				11,517,399

Net Assets — 100.0%			$	607,394,800

^(a)

Non-income producing security.

^(b)

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

^(c)

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

Schedule of Investments (unaudited) (continued)	iShares^® Frontier and Select EM ETF
November 30, 2023

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended November 30, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at 08/31/23		Purchases at Cost		Proceeds from Sale			Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value at 11/30/23		Shares Held at 11/30/23	Income		Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Treasury, SL Agency Shares^(a)	$	—	$	—	$	0	^(b)	$	—	$	—	$	—	—	$	49,551	$	—

^(a)	As of period end, the entity is no longer held.
^(b)	Represents net amount purchased (sold).

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

304

12/15/23

15,004

360,461

Forward Foreign Currency Exchange Contracts

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
Common Stocks	$	299,352,940	$	288,045,961	$	—	$	587,398,901
Preferred Stocks		8,478,500		—		—		8,478,500
	$	307,831,440	$	288,045,961	$	—	$	595,877,401
Derivative Financial Instruments^(a)
Assets
Equity Contracts	$	360,461	$	—	$	—	$	360,461

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

Schedule of Investments (unaudited) (continued)	iShares^® Frontier and Select EM ETF
November 30, 2023

Portfolio Abbreviation

ADR	American Depositary Receipt
GDR	Global Depositary Receipt
JSC	Joint Stock Company
NVS	Non-Voting Shares