Schedule of Investments (unaudited)	iShares® Emerging Markets Equity Factor ETF
May 31, 2024	(Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Brazil — 3.3%
Ambev SA	175,576	$	386,535
B3 SA - Brasil Bolsa Balcao	1,101,824		2,245,237
Banco do Brasil SA	276,148		1,426,257
Cia. de Saneamento Basico do Estado de Sao
Paulo SABESP	22,390		314,941
Cia. Energetica de Minas Gerais	83,296		191,627
Cia. Siderurgica Nacional SA	164,468		409,690
CPFL Energia SA	121,475		788,874
CSN Mineracao SA	995,778		936,819
Hypera SA	67,958		351,380
JBS SA	538,349		2,956,824
Neoenergia SA	175,160		630,468
Petroleo Brasileiro SA	299,480		2,321,285
Raia Drogasil SA	43,684		208,566
Suzano SA	109,859		1,018,898
TIM SA/Brazil	366,273		1,106,304
Vale SA	344,072		4,141,261
Vibra Energia SA	168,567		691,488
WEG SA	157,862		1,128,896
			21,255,350
Chile — 0.4%
Banco de Chile	3,617,051		429,471
Cencosud SA	445,535		836,655
Colbun SA	6,266,362		819,123
Empresas CMPC SA	309,828		648,371
Quinenco SA	47,707		171,494
			2,905,114
China — 24.3%
37 Interactive Entertainment Network Technology
Group Co. Ltd., Class A	216,900		433,665
3SBio Inc.(a)	833,000		650,476
Agricultural Bank of China Ltd., Class A	1,603,100		968,386
Agricultural Bank of China Ltd., Class H	1,011,000		423,842
AIMA Technology Group Co. Ltd.	85,900		409,518
Akeso Inc.(a)(b)	309,000		1,744,719
Alibaba Group Holding Ltd.	1,243,248		12,139,739
Anhui Guangxin Agrochemical Co. Ltd.	96,460		183,097
Anhui Gujing Distillery Co. Ltd., Class A	3,400		117,096
Anhui Jinhe Industrial Co. Ltd.	28,600		86,915
ANTA Sports Products Ltd.	93,800		1,004,851
Atour Lifestyle Holdings Ltd., ADR	3,688		65,683
Avary Holding Shenzhen Co. Ltd., Class A	16,300		67,240
AVIC Industry-Finance Holdings Co. Ltd., Class A	652,100		258,605
Baidu Inc.(b)	182,200		2,207,899
Bank of China Ltd., Class A	798,900		488,267
Bank of China Ltd., Class H	9,105,000		4,316,158
Bank of Communications Co. Ltd., Class H	1,161,000		876,278
Beijing Compass Technology Development Co. Ltd.(b)	8,700		51,095
Beijing Tongrentang Co. Ltd., Class A	44,600		273,591
Biem.L.Fdlkk Garment Co. Ltd.	58,000		246,206
Bosideng International Holdings Ltd.	2,728,000		1,578,478
BYD Co. Ltd., Class A	56,300		1,771,507
BYD Co. Ltd., Class H	13,000		364,770
Caida Securities Co. Ltd.	73,600		68,104
Capital Securities Co. Ltd.	64,500		184,157
China CITIC Bank Corp. Ltd., Class A	630,700		625,514
China Coal Energy Co. Ltd., Class H	437,000		551,218
China Construction Bank Corp., Class H	9,841,000		6,984,394
China International Capital Corp. Ltd., Class H(a)	510,000		608,815
China Medical System Holdings Ltd.(c)	376,000		318,356

Security	Shares		Value
China (continued)
China Merchants Bank Co. Ltd., Class H	463,500	$	2,076,785
China Merchants Securities Co. Ltd., Class A	43,800		85,617
China Merchants Securities Co. Ltd., Class H(a)	624,200		520,372
China National Software & Service Co. Ltd., Class A(b)	81,220		343,720
China Nonferrous Mining Corp Ltd.	1,621,000		1,557,466
China Overseas Property Holdings Ltd.(c)	350,000		237,576
China Pacific Insurance Group Co. Ltd., Class H	40,000		104,870
China Petroleum & Chemical Corp., Class A	582,800		517,553
China Petroleum & Chemical Corp., Class H	2,312,000		1,472,856
China Railway Group Ltd., Class H	326,000		175,655
China Resources Beer Holdings Co. Ltd.	116,500		468,843
China Resources Land Ltd.	44,500		162,392
China Resources Mixc Lifestyle Services Ltd.(a)	45,800		160,122
China Resources Pharmaceutical Group Ltd.(a)	1,000,000		741,716
China Resources Power Holdings Co. Ltd.	200,000		567,014
China Resources Sanjiu Medical & Pharmaceutical Co.
Ltd., Class A	58,100		486,223
China Shenhua Energy Co. Ltd., Class A	84,500		492,221
China Shenhua Energy Co. Ltd., Class H	228,500		1,110,113
China Tower Corp. Ltd., Class H(a)	1,170,000		138,155
China World Trade Center Co. Ltd.	51,500		173,096
Chinese Universe Publishing and Media Group Co.
Ltd., Class A	136,600		292,463
Chongqing Changan Automobile Co. Ltd., Class A	187,300		355,685
Chongqing Rural Commercial Bank Co. Ltd., Class H	737,000		339,944
Chongqing Water Group Co. Ltd.	179,100		125,236
Chow Tai Fook Jewellery Group Ltd.(c)	415,200		534,947
CITIC Ltd.	45,000		45,636
CITIC Securities Co. Ltd., Class A	66,000		169,419
CMOC Group Ltd., Class H	459,000		424,655
CNPC Capital Co. Ltd., NVS	66,000		51,614
COFCO Capital Holdings Co. Ltd.	154,900		166,497
COSCO Shipping Holdings Co. Ltd., Class H	536,000		897,559
CSC Financial Co. Ltd., Class A	154,900		451,098
CSC Financial Co. Ltd., Class H(a)	927,000		742,426
DaShenLin Pharmaceutical Group Co. Ltd., Class A	48,420		133,799
Dong-E-E-Jiao Co. Ltd., Class A	50,500		470,847
East Buy Holding Ltd.(a)(b)(c)	71,500		168,356
Eastern Air Logistics Co. Ltd.(b)	38,800		106,648
Ecovacs Robotics Co. Ltd., Class A	57,000		392,085
Focus Media Information Technology Co. Ltd., Class A	344,400		300,243
G-Bits Network Technology Xiamen Co. Ltd., Class A	6,400		163,141
GD Power Development Co. Ltd., Class A	1,194,900		883,203
GF Securities Co. Ltd., Class H	393,000		356,545
Giant Biogene Holding Co. Ltd.(a)(b)	165,200		1,048,532
Gongniu Group Co. Ltd.	31,700		527,406
Great Wall Motor Co. Ltd., Class H	249,000		431,047
Gree Electric Appliances Inc. of Zhuhai, Class A	47,400		265,169
Gree Real Estate Co. Ltd.(b)	109,600		79,356
Greentown China Holdings Ltd.	215,000		210,674
Guangdong Provincial Expressway Development
Co. Ltd.	183,800		257,551
Guangdong Provincial Expressway Development Co.
Ltd., Class B	437,835		393,583
Guangdong Zhongsheng Pharmaceutical Co. Ltd.	59,300		108,590
Guosen Securities Co. Ltd., Class A	426,700		525,341
Guosheng Financial Holding Inc.(b)	92,800		122,403
H World Group Ltd.	203,300		744,866
Hainan Haide Capital Management Co. Ltd.	110,190		149,032
Hangzhou Binjiang Real Estate Group Co. Ltd.	275,000		313,194
Hangzhou Robam Appliances Co. Ltd., Class A	21,000		69,481
Heilongjiang Agriculture Co. Ltd., Class A	99,900		178,390

1

Schedule of Investments (unaudited) (continued)	iShares® Emerging Markets Equity Factor ETF
May 31, 2024	(Percentages shown are based on Net Assets)

Security	Shares		Value
China (continued)
Hengdian Group DMEGC Magnetics Co. Ltd.	150,700	$	287,849
Hisense Home Appliances Group Co. Ltd.	90,200		504,953
Hisense Kelon Electrical Holdings Co. Ltd., Class H	283,000		1,289,107
Hopson Development Holdings Ltd.(b)	822,368		398,688
Huatai Securities Co. Ltd., Class H(a)	309,800		353,517
Hubei Jumpcan Pharmaceutical Co. Ltd., Class A	37,800		198,222
Hundsun Technologies Inc., Class A	53,100		146,917
Industrial & Commercial Bank of China Ltd., Class A	81,800		61,120
Industrial & Commercial Bank of China Ltd., Class H	8,003,000		4,534,000
Inner Mongolia ERDOS Resources Co. Ltd., Class B	160,420		163,931
JD Health International Inc.(a)(b)	144,100		484,645
JD.com Inc.	140,100		2,076,777
Jiangsu King’s Luck Brewery JSC Ltd., Class A	58,400		426,394
Jiangsu Phoenix Publishing & Media Corp. Ltd.	225,500		333,400
Jiangsu Yuyue Medical Equipment & Supply Co. Ltd.,
Class A	19,900		106,564
Jiangxi Copper Co. Ltd., Class H	107,000		231,470
Jinneng Holding Shanxi Coal Industry Co. Ltd.	167,200		423,932
JiuGui Liquor Co. Ltd., Class A	26,300		192,680
Jizhong Energy Resources Co. Ltd.	271,600		303,969
Joincare Pharmaceutical Group Industry Co. Ltd.,
Class A	169,000		289,852
Jointown Pharmaceutical Group Co. Ltd., Class A	212,340		216,512
Joyoung Co. Ltd., Class A	68,100		109,443
Kehua Data Co. Ltd.	15,400		51,656
Kingboard Holdings Ltd.(c)	222,500		541,310
Kingboard Laminates Holdings Ltd.	1,240,000		1,342,039
KingClean Electric Co. Ltd.	36,500		134,201
Kingnet Network Co. Ltd.	215,400		322,270
Kuaishou Technology(a)(b)	301,200		2,150,741
Kunlun Energy Co. Ltd.	640,000		667,485
Kweichow Moutai Co. Ltd., Class A	4,200		952,776
Lao Feng Xiang Co. Ltd., Class B	112,720		448,719
Legend Holdings Corp., Class H(a)	164,500		143,998
Lenovo Group Ltd.	1,124,000		1,619,131
Li Auto Inc.(b)	126,300		1,278,200
Meihua Holdings Group Co. Ltd.	274,700		414,874
Meituan, Class B(a)(b)	478,120		6,514,948
Metallurgical Corp. of China Ltd., Class H	2,800,000		610,137
Midea Group Co. Ltd., Class A	64,900		578,034
MINISO Group Holding Ltd.	49,000		276,605
NetEase Inc.	185,400		3,297,110
New Oriental Education & Technology Group Inc.(b)	110,600		881,730
Newland Digital Technology Co. Ltd., Class A	95,900		204,845
Nongfu Spring Co. Ltd., Class H(a)	576,600		3,070,150
Northeast Securities Co. Ltd., Class A	232,300		208,814
Opple Lighting Co. Ltd.	52,300		144,124
Orient Overseas International Ltd.	97,500		1,655,984
Orient Securities Co. Ltd.(a)(c)	1,403,200		570,165
People's Insurance Co. Group of China Ltd. (The),
Class H	1,250,000		435,648
Perfect World Co. Ltd., Class A	164,500		209,395
PetroChina Co. Ltd., Class A	2,009,200		2,812,169
PetroChina Co. Ltd., Class H	372,000		381,433
PICC Property & Casualty Co. Ltd., Class H	415,000		540,815
Ping An Insurance Group Co. of China Ltd., Class H	513,000		2,609,254
Pingdingshan Tianan Coal Mining Co. Ltd.	56,100		100,246
Postal Savings Bank of China Co. Ltd., Class H(a)	2,551,000		1,443,973
Radiance Holdings Group Co. Ltd.(b)(c)	522,000		187,563
Sanquan Food Co. Ltd., Class A	86,600		148,585
Sealand Securities Co. Ltd., Class A	451,100		196,264
Shaanxi Coal Industry Co. Ltd., Class A	114,900		411,710

Security	Shares		Value
China (continued)
Shaanxi Energy Investment Co. Ltd., NVS	229,000	$	348,654
Shandong Buchang Pharmaceuticals Co. Ltd., Class A	95,329		206,128
Shandong Publishing & Media Co. Ltd.	140,500		243,098
Shandong Weigao Group Medical Polymer Co.
Ltd., Class H	338,000		197,085
Shanghai Baosight Software Co. Ltd., Class B	65,928		143,456
Shanghai Construction Group Co. Ltd., Class A	798,400		256,071
Shanghai Flyco Electrical Appliance Co. Ltd.	10,300		64,863
Shanghai International Port Group Co. Ltd., Class A	187,281		146,521
Shanghai M&G Stationery Inc., Class A	9,400		46,044
Shanghai Stonehill Technology Co.Ltd., Class A	326,100		123,549
Shanghai Wanye Enterprises Co. Ltd.	62,100		107,971
Shanxi Coal International Energy Group Co. Ltd.	108,600		236,701
Shanxi Lu'an Environmental Energy Development Co. Ltd., Class A	235,600		735,510
Shanxi Xinghuacun Fen Wine Factory Co. Ltd.,
Class A	6,000		199,155
Shenwan Hongyuan Group Co. Ltd., Class A	700,000		438,495
Shenzhen CECport Technologies Co. Ltd., NVS	25,500		63,008
Shenzhen Salubris Pharmaceuticals Co. Ltd., Class A	52,200		196,721
Shijiazhuang Yiling Pharmaceutical Co. Ltd., Class A	116,660		291,570
Sichuan Changhong Electric Co. Ltd.	446,400		303,387
Simcere Pharmaceutical Group Ltd.(a)(c)	382,000		287,020
Sino Biopharmaceutical Ltd.	1,074,000		391,914
Sinosoft Co. Ltd.	82,040		208,070
Sinotrans Ltd., Class H	2,589,000		1,413,392
Sinotruk Hong Kong Ltd.	372,500		866,333
Sun Art Retail Group Ltd.	573,000		128,573
Tencent Holdings Ltd.	466,900		21,661,154
Tianneng Battery Group Co. Ltd.	52,400		201,741
Tianqi Lithium Corp.	22,000		83,173
Tingyi Cayman Islands Holding Corp.	932,000		1,138,544
Topsports International Holdings Ltd.(a)	354,000		231,060
Trip.com Group Ltd.(b)	38,550		1,970,254
Tsingtao Brewery Co. Ltd., Class H	78,000		553,334
Uni-President China Holdings Ltd.	432,000		378,947
Vanchip Tianjin Technology Co. Ltd.(b)	41,794		261,837
Want Want China Holdings Ltd.	1,578,000		950,384
Weichai Power Co. Ltd., Class H	238,000		427,526
Xiamen Xiangyu Co. Ltd.	199,000		203,753
Yadea Group Holdings Ltd.(a)	382,000		611,189
Yankuang Energy Group Co. Ltd., Class H	489,000		1,222,208
Yifeng Pharmacy Chain Co. Ltd., Class A	15,580		96,632
Yili Chuanning Biotechnology Co. Ltd.	212,400		388,845
Yixintang Pharmaceutical Group Co. Ltd., Class A	56,500		161,137
Yongan Futures Co. Ltd.	68,000		116,087
Yutong Bus Co. Ltd., Class A	217,100		729,057
Zangge Mining Co. Ltd.	20,200		72,700
Zhejiang Publishing & Media Co. Ltd.	168,000		199,586
Zhejiang Semir Garment Co. Ltd., Class A	269,600		236,460
Zhongshan Broad Ocean Motor Co. Ltd.	189,400		136,075
ZTE Corp., Class H(b)	112,400		232,036
Zx Inc.(b)	92,600		305,493
			155,561,209
Colombia — 0.2%
Bancolombia SA	41,507		385,705
Interconexion Electrica SA ESP	189,897		940,804
			1,326,509
Czech Republic — 0.5%
CEZ AS	26,399		1,100,405

2 

Schedule of Investments (unaudited) (continued)	iShares® Emerging Markets Equity Factor ETF
May 31, 2024	(Percentages shown are based on Net Assets)

Security	Shares		Value
Czech Republic (continued)
Komercni Banka AS	57,779	$	1,979,728
			3,080,133
Egypt — 0.2%
Abou Kir Fertilizers & Chemical Industries	248,918		326,485
Eastern Co. SAE	1,248,412		729,781
			1,056,266
Greece — 0.7%
Hellenic Telecommunications Organization SA	103,975		1,519,388
Jumbo SA	11,986		343,343
National Bank of Greece SA(b)	94,688		819,875
OPAP SA	62,954		1,000,715
Piraeus Financial Holdings SA(b)	138,794		545,258
			4,228,579
Hong Kong — 0.3%
BOC Hong Kong Holdings Ltd.	574,500		1,805,881
Hungary — 0.2%
MOL Hungarian Oil & Gas PLC	80,075		622,083
OTP Bank Nyrt	14,985		723,630
Richter Gedeon Nyrt	5,111		129,507
			1,475,220
India — 20.6%
3M India Ltd.	2,447		978,697
ABB India Ltd.	28,077		2,797,442
ACC Ltd.	22,471		686,163
Adani Enterprises Ltd.	32,124		1,314,377
AIA Engineering Ltd.	35,738		1,576,956
Ambuja Cements Ltd.	63,609		483,346
Apollo Hospitals Enterprise Ltd.	12,963		908,267
Asian Paints Ltd.	32,323		1,117,862
Axis Bank Ltd.	77,492		1,080,332
Bajaj Auto Ltd.	16,397		1,785,814
Bajaj Finance Ltd.	15,389		1,235,453
Bharat Electronics Ltd.	996,981		3,543,609
Bharat Petroleum Corp. Ltd.	9,362		70,459
Bharti Airtel Ltd.	153,037		2,520,037
Britannia Industries Ltd.(b)	5,362		333,070
CG Power and Industrial Solutions Ltd.	69,422		535,021
Cholamandalam Investment and Finance Co. Ltd.	13,588		202,290
Coal India Ltd.	326,017		1,920,101
Colgate-Palmolive India Ltd.	34,486		1,098,671
CRISIL Ltd.	19,034		936,070
Cummins India Ltd.	41,190		1,756,095
Dr. Reddy's Laboratories Ltd.	14,103		979,660
Emami Ltd.	130,236		977,507
GAIL India Ltd.	355,443		871,871
General Insurance Corp. of India(a)	138,931		594,526
GlaxoSmithKline Pharmaceuticals Ltd.	23,847		748,880
Global Health Ltd., NVS(b)	26,368		377,246
Godrej Properties Ltd.(b)	19,637		655,995
Havells India Ltd.	53,812		1,229,460
HCL Technologies Ltd.	127,712		2,030,354
HDFC Bank Ltd.	360,887		6,629,075
Hero MotoCorp Ltd.	19,542		1,200,332
Hindalco Industries Ltd.	184,524		1,528,666
Hindustan Aeronautics Ltd., NVS	51,457		3,067,241
Hindustan Petroleum Corp. Ltd.	70,079		451,256
Hindustan Unilever Ltd.	32,714		913,041
Hindustan Zinc Ltd.	57,621		474,575
ICICI Bank Ltd.	419,518		5,638,757
Indian Hotels Co. Ltd., Class A	24,963		167,077

Security	Shares		Value
India (continued)
Indian Oil Corp. Ltd.	374,943	$	730,283
Indian Railway Finance Corp. Ltd.(a)	475,850		1,016,050
Indian Renewable Energy Development Agency
Ltd., NVS(b)	42,441		94,261
Indraprastha Gas Ltd.	107,777		571,801
Indus Towers Ltd.(b)	92,967		387,966
Info Edge India Ltd.	8,870		606,192
Infosys Ltd.	405,334		6,870,862
InterGlobe Aviation Ltd.(a)(b)	24,054		1,207,140
IRCON International Ltd.(a)	100,998		328,221
Jindal Steel & Power Ltd.	14,337		176,814
Jio Financial Services Ltd., NVS(b)	175,155		724,100
JSW Energy Ltd.	53,799		395,173
JSW Infrastructure Ltd.(b)	134,648		457,726
JSW Steel Ltd.	11,701		123,698
Kalyan Jewellers India Ltd.	45,939		214,344
Kotak Mahindra Bank Ltd.	58,974		1,189,156
KPIT Technologies Ltd.	7,776		136,098
L&T Technology Services Ltd.(a)	19,863		1,072,843
Larsen & Toubro Ltd.	61,971		2,727,347
Mahindra & Mahindra Ltd.	92,443		2,775,996
Mangalore Refinery & Petrochemicals Ltd.	147,344		358,948
Marico Ltd.	58,886		419,857
Maruti Suzuki India Ltd.	4,533		674,476
Max Healthcare Institute Ltd.	11,179		100,864
Mazagon Dock Shipbuilders Ltd.	16,498		630,985
Mphasis Ltd.	36,598		1,003,933
Muthoot Finance Ltd.	24,705		498,985
Nestle India Ltd., NVS	53,965		1,522,964
NHPC Ltd., NVS	1,331,045		1,713,010
NMDC Ltd.	310,954		971,976
NTPC Ltd.	426,117		1,834,264
Oil & Natural Gas Corp. Ltd.	293,781		932,923
Oil India Ltd.	259,513		1,982,120
One 97 Communications Ltd., NVS(b)	15,630		67,550
Oracle Financial Services Software Ltd.	11,671		1,043,252
Page Industries Ltd.	1,279		551,831
Pidilite Industries Ltd.	4,184		148,988
Polycab India Ltd.	2,867		232,280
Poonawalla Fincorp Ltd.	69,869		377,279
Power Finance Corp. Ltd.	581,489		3,438,653
Power Grid Corp. of India Ltd.	465,201		1,731,007
Prestige Estates Projects Ltd.	20,521		393,379
Procter & Gamble Hygiene & Health Care Ltd.	3,834		734,506
REC Ltd.	426,532		2,753,172
Reliance Industries Ltd.	187,221		6,422,782
SBI Cards & Payment Services Ltd.	21,842		181,380
SBI Life Insurance Co. Ltd.(a)	32,491		540,003
Siemens Ltd.	12,567		1,050,537
Solar Industries India Ltd.	3,192		358,684
SRF Ltd.	20,784		551,568
State Bank of India	28,710		286,050
Sun Pharmaceutical Industries Ltd.	42,446		743,375
Supreme Industries Ltd.	13,135		832,505
Tata Consultancy Services Ltd.	154,545		6,810,323
Tata Elxsi Ltd.	5,046		420,671
Tata Investment Corp. Ltd.	1,170		89,975
Tata Motors Ltd., Class A	344,879		2,561,437
Tata Steel Ltd.	784,940		1,574,525
Tata Technologies Ltd.(b)	22,700		281,109
Tech Mahindra Ltd.	64,085		947,073
Titan Co. Ltd.	5,725		222,767

3

Schedule of Investments (unaudited) (continued)	iShares® Emerging Markets Equity Factor ETF
May 31, 2024	(Percentages shown are based on Net Assets)

Security	Shares		Value
India (continued)
Tube Investments of India Ltd.	26,436	$	1,133,554
Union Bank of India Ltd.	162,833		313,025
Varun Beverages Ltd.	79,455		1,359,489
Vedant Fashions Ltd.	64,280		804,062
Vedanta Ltd.	49,191		264,861
Wipro Ltd.	504,704		2,650,568
			131,739,247
Indonesia — 1.6%
Adaro Energy Indonesia Tbk PT	3,574,500		609,315
Adaro Minerals Indonesia Tbk PT(b)	2,360,900		210,665
Aneka Tambang Tbk	687,000		62,012
Avia Avian Tbk PT	2,214,800		72,918
Bank Central Asia Tbk PT	5,368,200		3,054,357
Bank CIMB Niaga Tbk PT	3,127,000		327,476
Bank Mandiri Persero Tbk PT	2,468,900		895,385
Bank Negara Indonesia Persero Tbk PT	628,000		170,407
Bank Rakyat Indonesia Persero Tbk PT	2,607,600		698,939
Barito Renewables Energy Tbk PT	788,800		399,254
GoTo Gojek Tokopedia Tbk PT(b)	52,603,700		211,497
Hanjaya Mandala Sampoerna Tbk PT	11,555,700		522,673
Kalbe Farma Tbk PT	729,900		66,926
Pertamina Geothermal Energy PT(a)	6,518,700		476,219
Sumber Alfaria Trijaya Tbk PT	7,775,000		1,267,923
Telkom Indonesia Persero Tbk PT	2,754,300		491,283
Unilever Indonesia Tbk PT	1,958,900		376,828
United Tractors Tbk PT	172,000		233,656
			10,147,733
Kuwait — 0.2%
National Bank of Kuwait SAKP	454,012		1,269,079
Malaysia — 1.3%
Axiata Group Bhd	196,400		116,960
Fraser & Neave Holdings Bhd	68,500		474,712
Genting Bhd	314,400		318,154
Hong Leong Bank Bhd	169,400		693,820
Hong Leong Financial Group Bhd	108,600		392,686
IJM Corp. Bhd	103,700		60,764
Malaysia Airports Holdings Bhd	51,700		109,221
Nestle Malaysia Bhd	29,300		794,281
Petronas Chemicals Group Bhd	106,900		152,548
Petronas Dagangan Bhd	51,600		217,056
Petronas Gas Bhd	95,100		368,924
Public Bank Bhd	876,200		763,513
Sime Darby Bhd	865,900		511,918
Telekom Malaysia Bhd	131,600		173,869
Westports Holdings Bhd	280,800		241,606
YTL Corp. Bhd	2,425,700		1,857,261
YTL Power International Bhd	1,099,500		1,152,437
			8,399,730
Mexico — 2.6%
America Movil SAB de CV	1,808,964		1,676,063
Banco del Bajio SA(a)	654,149		2,260,499
Cemex SAB de CV(b)	118,755		894,225
Coca-Cola Femsa SAB de CV	198,420		1,851,405
Fomento Economico Mexicano SAB de CV	193,493		2,218,615
Gruma SAB de CV, Class B	62,646		1,215,886
Grupo Aeroportuario del Pacifico SAB de CV, Class B	110,234		2,074,087
Grupo Comercial Chedraui SA de CV	129,325		956,989
Grupo Financiero Banorte SAB de CV, Class O	135,802		1,291,626
Grupo Mexico SAB de CV, Series B	132,799		820,909

Security	Shares		Value
Mexico (continued)
Wal-Mart de Mexico SAB de CV	442,725	$	1,664,541
			16,924,845
Philippines — 0.6%
Bank of the Philippine Islands	689,498		1,416,228
DMCI Holdings Inc.	1,766,700		359,257
International Container Terminal Services Inc.	124,680		727,797
Manila Electric Co.	111,670		700,705
Metropolitan Bank & Trust Co.	57,410		60,941
Semirara Mining & Power Corp., Class A	843,000		488,915
			3,753,843
Poland — 1.0%
Bank Polska Kasa Opieki SA	4,667		190,088
Budimex SA	12,333		2,343,058
LPP SA	382		1,687,207
mBank SA(b)	3,876		618,834
Orange Polska SA	517,880		1,080,315
Pepco Group NV(b)	13,886		86,163
PGE Polska Grupa Energetyczna SA(b)	159,170		274,953
			6,280,618
Qatar — 1.0%
Ezdan Holding Group QSC(b)	480,480		103,607
Industries Qatar QSC	558,086		1,770,996
Mesaieed Petrochemical Holding Co.	1,366,901		649,662
Ooredoo QPSC	859,240		2,217,266
Qatar Islamic Bank SAQ	29,524		139,863
Qatar National Bank QPSC	341,283		1,267,178
			6,148,572
Russia — 0.0%
Inter RAO UES PJSC(d)	41,455,000		4,584
PhosAgro PJSC(b)(d)	51,000		6
PhosAgro PJSC, New(b)(d)	986		10
TCS Group Holding PLC, GDR(b)(d)(e)	135,475		15
United Co. RUSAL International PJSC(b)(d)	3,441,260		380
			4,995
Saudi Arabia — 2.5%
Ades Holding Co.(b)	42,456		204,430
Al Rajhi Bank	89,069		1,814,308
Alinma Bank	86,031		703,074
Arab National Bank	97,301		512,953
Arabian Internet & Communications Services Co.	5,207		367,407
Banque Saudi Fransi	43,303		387,800
Dar Al Arkan Real Estate Development Co.(b)	83,063		264,423
Dr Sulaiman Al Habib Medical Services Group Co.	11,171		795,325
Elm Co.	10,302		2,199,786
Etihad Etisalat Co.	58,024		726,554
Nahdi Medical Co.	52,172		1,829,498
Riyad Bank	144,841		944,774
Riyadh Cables Group Co.	31,579		809,648
SABIC Agri-Nutrients Co.	42,952		1,216,669
SAL Saudi Logistics Services	20,243		1,390,396
Saudi Aramco Base Oil Co.	26,155		909,942
Saudi Electricity Co.	91,855		410,235
Saudi Telecom Co.	31,182		299,291
			15,786,513
South Africa — 2.0%
African Rainbow Minerals Ltd.	68,499		829,320
Anglo American Platinum Ltd.(c)	40,320		1,322,677
Bid Corp. Ltd.	13,543		299,799
Bidvest Group Ltd. (The)	35,033		458,031
Clicks Group Ltd.	42,816		672,031

4 

Schedule of Investments (unaudited) (continued)	iShares® Emerging Markets Equity Factor ETF
May 31, 2024	(Percentages shown are based on Net Assets)

Security	Shares		Value
South Africa (continued)
Exxaro Resources Ltd.	87,117	$	843,973
FirstRand Ltd.	21,996		76,311
Foschini Group Ltd. (The)	19,152		96,856
Gold Fields Ltd.	35,355		556,450
Impala Platinum Holdings Ltd.	212,459		1,094,451
MTN Group Ltd.	240,455		1,055,082
MultiChoice Group(b)	228,391		1,368,401
Naspers Ltd., Class N	1,314		260,478
Nedbank Group Ltd.	9,948		120,997
NEPI Rockcastle NV	42,215		291,741
Northam Platinum Holdings Ltd.	96,749		668,101
Sasol Ltd.	51,474		341,993
Sibanye Stillwater Ltd.	244,096		308,085
Standard Bank Group Ltd.	74,329		710,068
Woolworths Holdings Ltd./South Africa	489,701		1,419,442
			12,794,287
South Korea — 12.8%
BGF retail Co. Ltd.	1,982		167,019
Celltrion Inc.	4,740		605,067
CJ CheilJedang Corp.	258		65,334
CJ Corp.	12,496		1,251,836
CJ Logistics Corp.	3,224		241,986
Coway Co. Ltd.	27,942		1,144,284
DB HiTek Co. Ltd.	22,210		654,076
DB Insurance Co. Ltd.	18,972		1,421,903
DL Holdings Co. Ltd.	18,000		722,948
Doosan Bobcat Inc.	27,474		1,148,841
Ecopro Co. Ltd.(b)	3,352		230,236
Ecopro Materials Co. Ltd.(b)	1,037		59,923
E-MART Inc.	5,479		243,343
Enchem Co. Ltd.(b)	1,541		329,886
F&F Co. Ltd./New	6,568		318,673
Hana Financial Group Inc.	71,443		3,190,330
Hankook Tire & Technology Co. Ltd.	2,294		72,690
Hanmi Science Co. Ltd.	18,944		432,680
Hanmi Semiconductor Co. Ltd.	7,191		846,428
Hanwha Aerospace Co. Ltd.	7,531		1,123,201
Hyosung TNC Corp.	2,699		787,660
Hyundai Engineering & Construction Co. Ltd.	3,502		84,033
Hyundai Glovis Co. Ltd.	4,751		618,367
Hyundai Marine & Fire Insurance Co. Ltd.	17,652		418,590
Hyundai Mobis Co. Ltd.	7,439		1,159,851
Hyundai Motor Co.	20,508		3,763,296
Hyundai Rotem Co. Ltd.	8,823		229,798
KB Financial Group Inc.	66,561		3,826,611
KCC Corp.	5,831		1,242,211
KEPCO Engineering & Construction Co. Inc.	1,707		86,518
Kia Corp.	43,047		3,674,330
Korea Aerospace Industries Ltd.	5,021		188,350
Korea Investment Holdings Co. Ltd.	20,567		970,062
Krafton Inc.(b)	797		144,022
KT&G Corp.	15,525		937,116
Kumho Petrochemical Co. Ltd.	3,518		375,849
LG Chem Ltd.	2,581		659,647
LG Corp.	4,170		245,361
LG Display Co. Ltd.(b)	29,360		211,465
LG Electronics Inc.	13,086		995,371
LG Energy Solution Ltd.(b)	1,513		364,443
LG H&H Co. Ltd.	743		224,756
LG Innotek Co. Ltd.	3,540		635,083
LG Uplus Corp.	67,168		469,075
LS Corp.	5,224		644,479

Security	Shares		Value
South Korea (continued)
Meritz Financial Group Inc.	17,671	$	979,178
Mirae Asset Securities Co. Ltd.	66,183		345,958
NAVER Corp.	7,439		920,941
NCSoft Corp.	4,077		562,979
Orion Corp/Republic of Korea	6,838		452,415
POSCO Holdings Inc.	6,893		1,848,485
Samsung Biologics Co. Ltd.(a)(b)	2,671		1,409,074
Samsung C&T Corp.	7,884		771,599
Samsung Card Co. Ltd.	23,486		689,738
Samsung E&A Co. Ltd.(b)	20,985		355,423
Samsung Electro-Mechanics Co. Ltd.	9,045		1,015,917
Samsung Electronics Co. Ltd.	446,540		23,658,940
Samsung Fire & Marine Insurance Co. Ltd.	7,855		1,983,033
Samsung Life Insurance Co. Ltd.	11,394		696,197
Samsung SDI Co. Ltd.	2,535		692,599
Samsung SDS Co. Ltd.	5,714		633,897
Samsung Securities Co. Ltd.	20,508		536,798
Seegene Inc.	41,139		629,730
Shinhan Financial Group Co. Ltd.	79,807		2,737,906
SK Hynix Inc.	15,681		2,160,657
SK Telecom Co. Ltd.	12,137		447,877
Woori Financial Group Inc.	142,135		1,457,924
			82,214,293
Taiwan — 17.7%
Accton Technology Corp.	80,000		1,252,667
Acer Inc.	727,000		1,192,603
Advantech Co. Ltd.	59,291		649,144
ASE Technology Holding Co. Ltd.	246,000		1,194,446
Asia Vital Components Co. Ltd.	21,000		498,469
Asustek Computer Inc.	14,000		222,885
AUO Corp.	1,601,800		882,660
Cathay Financial Holding Co. Ltd.	1,454,000		2,530,225
Chicony Electronics Co. Ltd.	196,000		1,133,722
China Airlines Ltd.	191,000		132,574
China Development Financial Holding Corp.(b)	889,000		388,222
Chunghwa Telecom Co. Ltd.	103,000		407,547
Compal Electronics Inc.	289,000		331,871
CTBC Financial Holding Co. Ltd.	1,985,000		2,174,903
Delta Electronics Inc.	145,000		1,461,093
Far EasTone Telecommunications Co. Ltd.	313,000		807,436
Feng TAY Enterprise Co. Ltd.	36,880		176,662
Formosa Sumco Technology Corp.	92,000		483,549
Fortune Electric Co. Ltd.	41,000		908,402
Fubon Financial Holding Co. Ltd.	1,576,950		3,584,011
Gigabyte Technology Co. Ltd.	97,000		958,768
Global Unichip Corp.	31,000		1,404,313
Hon Hai Precision Industry Co. Ltd.	828,000		4,409,510
Inventec Corp.	282,000		469,598
King Slide Works Co. Ltd.	22,000		773,340
Largan Precision Co. Ltd.	2,000		141,254
Lite-On Technology Corp.	465,718		1,557,911
MediaTek Inc.	148,000		5,667,523
Mega Financial Holding Co. Ltd.	185,134		223,647
Micro-Star International Co. Ltd.	193,000		1,146,452
Nan Ya Plastics Corp.	233,000		383,662
Nan Ya Printed Circuit Board Corp.	35,000		212,133
Nien Made Enterprise Co. Ltd.	26,000		282,182
Novatek Microelectronics Corp.	198,000		3,650,215
Pou Chen Corp.	442,000		512,539
Powertech Technology Inc.	19,000		104,900
President Chain Store Corp.	113,000		942,843
Quanta Computer Inc.	174,000		1,478,371

5

Schedule of Investments (unaudited) (continued)	iShares® Emerging Markets Equity Factor ETF
May 31, 2024	(Percentages shown are based on Net Assets)

Security	Shares		Value
Taiwan (continued)
Realtek Semiconductor Corp.	156,000	$	2,633,882
Ruentex Industries Ltd.	546,000		1,153,279
Shanghai Commercial & Savings Bank Ltd. (The)	771,000		1,097,695
SinoPac Financial Holdings Co. Ltd.	2,295,840		1,637,415
Synnex Technology International Corp.	46,000		119,908
Taiwan Cooperative Financial Holding Co. Ltd.	2,032,550		1,605,219
Taiwan Semiconductor Manufacturing Co. Ltd.	1,914,000		49,013,580
Unimicron Technology Corp.	93,000		528,621
Uni-President Enterprises Corp.	899,000		2,222,618
United Microelectronics Corp.	1,569,000		2,671,104
Voltronic Power Technology Corp.	19,000		995,745
Winbond Electronics Corp.	91,979		71,448
Wistron Corp.	235,000		818,612
Wiwynn Corp.	16,000		1,224,552
Yang Ming Marine Transport Corp.	117,000		258,242
Yuanta Financial Holding Co. Ltd.	2,702,185		2,648,057
Yulon Nissan Motor Co. Ltd.	9,000		39,084
			113,471,313
Thailand — 0.7%
Advanced Info Service PCL, NVDR	150,200		829,618
Central Retail Corp. PCL, NVDR	74,500		62,022
Charoen Pokphand Foods PCL, NVDR(b)	169,300		104,936
Delta Electronics Thailand PCL, NVDR(c)	449,700		908,126
Kasikornbank PCL, NVDR	48,200		171,899
Krung Thai Bank PCL, NVDR	1,869,500		875,109
Krungthai Card PCL, NVDR	313,800		391,691
MK Restaurants Group PCL, NVDR	346,700		311,296
PTT Exploration & Production PCL, NVDR	86,200		362,471
SCB X PCL, NVDR	132,000		381,151
TOA Paint Thailand PCL, NVDR	116,700		72,640
			4,470,959
Turkey — 1.7%
Akbank TAS	484,457		993,079
Anadolu Efes Biracilik Ve Malt Sanayii A/S	230,835		1,421,303
BIM Birlesik Magazalar A/S	78,412		1,168,031
Ford Otomotiv Sanayi AS	15,243		515,799
KOC Holding AS	210,424		1,555,492
Tofas Turk Otomobil Fabrikasi AS	147,334		1,412,009
Turk Telekomunikasyon AS(b)	95,153		136,189
Turk Traktor ve Ziraat Makineleri AS	35,900		1,111,874
Turkcell Iletisim Hizmetleri AS	316,644		978,726
Turkiye Garanti Bankasi AS	383,726		1,283,721
Yapi ve Kredi Bankasi A/S	567,361		569,064
			11,145,287
United Arab Emirates — 1.8%
Abu Dhabi Islamic Bank PJSC	947,427		2,894,088
Abu Dhabi National Oil Co. for Distribution PJSC	1,424,974		1,258,152
Dubai Electricity & Water Authority PJSC	2,433,830		1,517,396
Emaar Properties PJSC	668,373		1,393,865
Emirates NBD Bank PJSC	291,159		1,232,633
Emirates Telecommunications Group Co. PJSC	194,919		854,384
First Abu Dhabi Bank PJSC	175,096		552,978
International Holding Co. PJSC(b)	17,972		1,991,425
			11,694,921
Total Common Stocks — 98.2%
(Cost: $551,226,762)			628,940,496

Security	Shares		Value
Preferred Stocks
Brazil — 1.2%
Cia. Energetica de Minas Gerais, Preference
Shares, NVS	644,846	$	1,221,927
Gerdau SA, Preference Shares, NVS	418,938		1,444,889
Itau Unibanco Holding SA, Preference Shares, NVS	451,362		2,667,307
Petroleo Brasileiro SA, Preference Shares, NVS	345,780		2,554,382
			7,888,505
Chile — 0.2%
Sociedad Quimica y Minera de Chile SA, Class B,
Preference Shares	22,794		1,067,731
South Korea — 0.2%
Kumho Petrochemical Co. Ltd., Preference
Shares, NVS	4,742		233,317
Samsung C&T Corp., Preference Shares, NVS	2,696		209,455
Samsung Electronics Co. Ltd., Preference
Shares, NVS	21,597		942,300
			1,385,072
Total Preferred Stocks — 1.6%
(Cost: $9,706,106)			10,341,308
Total Long-Term Investments — 99.8%
(Cost: $560,932,868)			639,281,804

Short-Term Securities
Money Market Funds — 1.0%
BlackRock Cash Funds: Institutional, SL Agency
Shares, 5.49%(f)(g)(h)	4,233,913		4,235,184
BlackRock Cash Funds: Treasury, SL Agency
Shares, 5.28%(f)(g)	2,490,000		2,490,000
Total Short-Term Securities — 1.0%
(Cost: $6,724,257)			6,725,184
Total Investments — 100.8%
(Cost: $567,657,125)			646,006,988
Liabilities in Excess of Other Assets — (0.8)%			(5,297,307	)
Net Assets — 100.0%		$	640,709,681

^(a) 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.

^(b) Non-income producing security.

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

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

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

^(f) Affiliate of the Fund.

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

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

6 

Schedule of Investments (unaudited) (continued)	iShares® Emerging Markets Equity Factor ETF
May 31, 2024

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended May 31, 2024 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 Sales			Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Value at 05/31/24		Shares Held at 05/31/24		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL  Agency Shares	$	15,390,096	$	—		$	(11,156,462	)(a)	$	2,232	$	(682	)	$	4,235,184		4,233,913	$	126,908	(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency  Shares		—		2,490,000	(a)		—			—		—			2,490,000		2,490,000		99,072			—
									$	2,232	$	(682	)	$	6,725,184			$	225,980		$	—

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

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

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

Description	Number of  Contracts	Expiration  Date		Notional Amount (000)		Value/ Unrealized Appreciation (Depreciation)
Long Contracts
MSCI Emerging Markets Index	19	06/21/24	$	1,004	$	(13,161	)

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	$	85,271,721	$	543,663,780	$	4,995	$	628,940,496
Preferred Stocks		8,956,236		1,385,072		—		10,341,308

7

Schedule of Investments (unaudited) (continued)	iShares® Emerging Markets Equity Factor ETF
May 31, 2024

Fair Value Hierarchy as of Period End (continued)

	Level 1			Level 2		Level 3		Total
Short-Term Securities
Money Market Funds	$	6,725,184		$	—	$	—	$	6,725,184
	$	100,953,141		$	545,048,852	$	4,995	$	646,006,988
Derivative Financial Instruments(a)
Liabilities
Equity Contracts	$	(13,161	)	$	—	$	—	$	(13,161	)

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

Portfolio Abbreviation

ADR	American Depositary Receipt
GDR	Global Depositary Receipt
NVDR	Non-Voting Depositary Receipt
NVS	Non-Voting Shares
PJSC	Public Joint Stock Company

8