<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/ncen" xmlns:com="http://www.sec.gov/edgar/common">
  <schemaVersion>X0201</schemaVersion>
  <headerData>
    <submissionType>N-CEN</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0001100663</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
        <fileNumber>811-09729</fileNumber>
      </filer>
      <flags>
        <returnCopyFlag>false</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
        <confirmingCopyFlag>false</confirmingCopyFlag>
      </flags>
      <investmentCompanyType>N-1A</investmentCompanyType>
    </filerInfo>
    <seriesClass>
      <reportSeriesClass>
        <rptSeriesClassInfo>
          <seriesId>S000013699</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000016772</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000004360</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000004357</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000004358</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000013696</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000013697</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000013694</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000013701</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000026652</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000023506</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000026651</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000057342</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000004362</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000023507</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000004361</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000018861</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000057341</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000013702</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000019342</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000013695</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000013698</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000019341</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000058037</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000062159</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000058036</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000055401</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000013700</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
      </reportSeriesClass>
    </seriesClass>
  </headerData>
  <formData>
    <generalInfo reportEndingPeriod="2019-02-28" isReportPeriodLt12="N"/>
    <registrantInfo>
      <registrantFullName>iShares Trust</registrantFullName>
      <investmentCompFileNo>811-09729</investmentCompFileNo>
      <registrantCik>0001100663</registrantCik>
      <registrantLei>5493000860OXIC4B5K91</registrantLei>
      <registrantstreet1>400 Howard Street</registrantstreet1>
      <registrantcity>San Francisco</registrantcity>
      <registrantzipCode>94105</registrantzipCode>
      <registrantstate>US-CA</registrantstate>
      <registrantcountry>US</registrantcountry>
      <registrantphoneNumber>800-474-2737</registrantphoneNumber>
      <websites>
        <website webpage="www.BlackRock.com"/>
      </websites>
      <locationBooksRecords>
        <locationBooksRecord>
          <officeName>BlackRock Investments, LLC</officeName>
          <officeAddress1>40 East 52nd Street</officeAddress1>
          <officeCity>New York</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-NY"/>
          <officeRecordsZipCode>10022</officeRecordsZipCode>
          <officePhone>609-282-3046</officePhone>
          <booksRecordsDesc>Records related to its functions as distributor</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>State Street Bank and Trust Company</officeName>
          <officeAddress1>1 Lincoln Street</officeAddress1>
          <officeCity>Boston</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-MA"/>
          <officeRecordsZipCode>02111</officeRecordsZipCode>
          <officePhone>617-786-3000</officePhone>
          <booksRecordsDesc>Records related to its functions as administrator, accounting agent, transfer agent and custodian</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>BlackRock Fund Advisors</officeName>
          <officeAddress1>400 Howard Street</officeAddress1>
          <officeCity>San Francisco</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-CA"/>
          <officeRecordsZipCode>94105</officeRecordsZipCode>
          <officePhone>415-670-2000</officePhone>
          <booksRecordsDesc>Records related to its functions as adviser</booksRecordsDesc>
        </locationBooksRecord>
      </locationBooksRecords>
      <isRegistrantFirstFiling>N</isRegistrantFirstFiling>
      <isRegistrantLastFiling>N</isRegistrantLastFiling>
      <registrantFamilyInvComp isRegistrantFamilyInvComp="Y" familyInvCompFullName="BlackRock-advised Funds"/>
      <registrantClassificationType>N-1A</registrantClassificationType>
      <totalSeries>281</totalSeries>
      <isSecuritiesActRegistration>Y</isSecuritiesActRegistration>
      <directors>
        <director>
          <directorName>Richard L. Fagnani</directorName>
          <crdNumber>000000000</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-09102"/>
            <fileNumberInfo fileNumber="811-22649"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Robert S. Kapito</directorName>
          <crdNumber>000000000</crdNumber>
          <isDirectorInterestedPerson>Y</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-22649"/>
            <fileNumberInfo fileNumber="811-09102"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Mark K. Wiedman</directorName>
          <crdNumber>000038642</crdNumber>
          <isDirectorInterestedPerson>Y</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-09102"/>
            <fileNumberInfo fileNumber="811-22649"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Madhav V. Rajan</directorName>
          <crdNumber>000000000</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-09102"/>
            <fileNumberInfo fileNumber="811-22649"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Jane D. Carlin</directorName>
          <crdNumber>001279982</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-22649"/>
            <fileNumberInfo fileNumber="811-09102"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>John E. Martinez</directorName>
          <crdNumber>000000000</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-09102"/>
            <fileNumberInfo fileNumber="811-22649"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>John E. Kerrigan</directorName>
          <crdNumber>000000000</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-09102"/>
            <fileNumberInfo fileNumber="811-22649"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Drew E. Lawton</directorName>
          <crdNumber>001173631</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-09102"/>
            <fileNumberInfo fileNumber="811-22649"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Cecilia H. Herbert</directorName>
          <crdNumber>000000000</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-22649"/>
            <fileNumberInfo fileNumber="811-09102"/>
            <fileNumberInfo fileNumber="811-23362"/>
          </fileNumbers>
        </director>
      </directors>
      <chiefComplianceOfficers>
        <chiefComplianceOfficer>
          <ccoName>Charles Park</ccoName>
          <crdNumber>000000000</crdNumber>
          <ccoStreet1>55 East 52nd Street</ccoStreet1>
          <ccoCity>New York</ccoCity>
          <ccoStateCountry ccoCountry="US" ccoState="US-NY"/>
          <ccoZipCode>10055</ccoZipCode>
          <ccoPhone>XXXXXX</ccoPhone>
          <isCcoChangedSinceLastFiling>N</isCcoChangedSinceLastFiling>
          <ccoEmployers>
            <ccoEmployer ccoEmployerName="N/A" ccoEmployerId="N/A"/>
          </ccoEmployers>
        </chiefComplianceOfficer>
      </chiefComplianceOfficers>
      <isRegistrantSubmittedMatter>N</isRegistrantSubmittedMatter>
      <legalProceedingSeriesInfo isPreviousLegalProceeding="Y">
        <seriesInfo seriesName="iShares ESG U.S. Aggregate Bond ETF" seriesId="S000062159"/>
        <seriesInfo seriesName="iShares Intermediate Government/Credit Bond ETF" seriesId="S000013700"/>
        <seriesInfo seriesName="iShares 10-20 Year Treasury Bond ETF" seriesId="S000013696"/>
        <seriesInfo seriesName="iShares Long-Term Corporate Bond ETF" seriesId="S000026651"/>
        <seriesInfo seriesName="iShares Core 5-10 Year USD Bond ETF" seriesId="S000055401"/>
        <seriesInfo seriesName="iShares Intermediate-Term Corporate Bond ETF" seriesId="S000013698"/>
        <seriesInfo seriesName="iShares 1-3 Year Treasury Bond ETF" seriesId="S000004357"/>
        <seriesInfo seriesName="iShares Agency Bond ETF" seriesId="S000023506"/>
        <seriesInfo seriesName="iShares California Muni Bond ETF" seriesId="S000019341"/>
        <seriesInfo seriesName="iShares National Muni Bond ETF" seriesId="S000018861"/>
        <seriesInfo seriesName="iShares iBoxx $ High Yield Corporate Bond ETF" seriesId="S000016772"/>
        <seriesInfo seriesName="iShares New York Muni Bond ETF" seriesId="S000019342"/>
        <seriesInfo seriesName="iShares Short-Term National Muni Bond ETF" seriesId="S000023507"/>
        <seriesInfo seriesName="iShares Short Treasury Bond ETF" seriesId="S000013694"/>
        <seriesInfo seriesName="iShares ESG 1-5 Year USD Corporate Bond ETF" seriesId="S000058036"/>
        <seriesInfo seriesName="iShares Government/Credit Bond ETF" seriesId="S000013701"/>
        <seriesInfo seriesName="iShares iBoxx $ Investment Grade Corporate Bond ETF" seriesId="S000004361"/>
        <seriesInfo seriesName="iShares 7-10 Year Treasury Bond ETF" seriesId="S000004358"/>
        <seriesInfo seriesName="iShares 3-7 Year Treasury Bond ETF" seriesId="S000013695"/>
        <seriesInfo seriesName="iShares Short-Term Corporate Bond ETF" seriesId="S000013697"/>
        <seriesInfo seriesName="iShares ESG USD Corporate Bond ETF" seriesId="S000058037"/>
        <seriesInfo seriesName="iShares Edge Investment Grade Enhanced Bond ETF" seriesId="S000057342"/>
        <seriesInfo seriesName="iShares Core 10+ Year USD Bond ETF" seriesId="S000026652"/>
        <seriesInfo seriesName="iShares Broad USD Investment Grade Corporate Bond ETF" seriesId="S000013699"/>
        <seriesInfo seriesName="iShares 20+ Year Treasury Bond ETF" seriesId="S000004360"/>
        <seriesInfo seriesName="iShares MBS ETF" seriesId="S000013702"/>
        <seriesInfo seriesName="iShares Core U.S. Aggregate Bond ETF" seriesId="S000004362"/>
        <seriesInfo seriesName="iShares Edge High Yield Defensive Bond ETF" seriesId="S000057341"/>
      </legalProceedingSeriesInfo>
      <isPreviousProceedingTerminated>N</isPreviousProceedingTerminated>
      <isClaimFiled>N</isClaimFiled>
      <coveredByInsurancePolicy isCoveredByInsurancePolicy="Y" isClaimFiledDuringPeriod="N"/>
      <isFinancialSupportDuringPeriod>N</isFinancialSupportDuringPeriod>
      <releaseNumbers isExemptionFromAct="Y">
        <releaseNumberInfo releaseNumber="IC-26175"/>
        <releaseNumberInfo releaseNumber="IC-26626"/>
        <releaseNumberInfo releaseNumber="IC-24452"/>
        <releaseNumberInfo releaseNumber="IC-25878"/>
        <releaseNumberInfo releaseNumber="IC-32268"/>
        <releaseNumberInfo releaseNumber="IC-29172"/>
        <releaseNumberInfo releaseNumber="IC-27661"/>
        <releaseNumberInfo releaseNumber="IC-24451"/>
        <releaseNumberInfo releaseNumber="IC-25111"/>
        <releaseNumberInfo releaseNumber="IC-26606"/>
        <releaseNumberInfo releaseNumber="IC-27417"/>
        <releaseNumberInfo releaseNumber="IC-25622"/>
      </releaseNumbers>
      <principalUnderwriters>
        <principalUnderwriter>
          <principalUnderwriterName>BlackRock Investments, LLC</principalUnderwriterName>
          <principalUnderwriterFileNumber>8-48436</principalUnderwriterFileNumber>
          <principalUnderwriterCrdNumber>000038642</principalUnderwriterCrdNumber>
          <principalUnderwriterLei>00000000000000000000</principalUnderwriterLei>
          <principalUnderWriterStateCountry principalUnderWriterCountry="US" principalUnderWriterState="US-NY"/>
          <isPrincipalUnderwriterAffiliatedWithRegistrant>Y</isPrincipalUnderwriterAffiliatedWithRegistrant>
        </principalUnderwriter>
      </principalUnderwriters>
      <isUnderwriterHiredOrTerminated>N</isUnderwriterHiredOrTerminated>
      <publicAccountants>
        <publicAccountant>
          <publicAccountantName>PricewaterhouseCoopers LLP</publicAccountantName>
          <pcaobNumber>238</pcaobNumber>
          <publicAccountantLei>5493002GVO7EO8RNNS37</publicAccountantLei>
          <publicAccountantStateCountry publicAccountantCountry="US" publicAccountantState="US-PA"/>
        </publicAccountant>
      </publicAccountants>
      <isPublicAccountantChanged>N</isPublicAccountantChanged>
      <isMaterialWeakness>N</isMaterialWeakness>
      <isOpinionOffered>N</isOpinionOffered>
      <isMaterialChange>N</isMaterialChange>
      <isAccountingPrincipleChange>N</isAccountingPrincipleChange>
      <isPaymentErrorInNetAssetValue>N</isPaymentErrorInNetAssetValue>
      <paymentDividendSeries isPaymentDividend="Y">
        <seriesInfo seriesName="iShares Core 5-10 Year USD Bond ETF" seriesId="S000055401"/>
        <seriesInfo seriesName="iShares Edge High Yield Defensive Bond ETF" seriesId="S000057341"/>
        <seriesInfo seriesName="iShares California Muni Bond ETF" seriesId="S000019341"/>
        <seriesInfo seriesName="iShares Agency Bond ETF" seriesId="S000023506"/>
        <seriesInfo seriesName="iShares Long-Term Corporate Bond ETF" seriesId="S000026651"/>
        <seriesInfo seriesName="iShares Broad USD Investment Grade Corporate Bond ETF" seriesId="S000013699"/>
        <seriesInfo seriesName="iShares New York Muni Bond ETF" seriesId="S000019342"/>
        <seriesInfo seriesName="iShares Short-Term National Muni Bond ETF" seriesId="S000023507"/>
        <seriesInfo seriesName="iShares MBS ETF" seriesId="S000013702"/>
        <seriesInfo seriesName="iShares 1-3 Year Treasury Bond ETF" seriesId="S000004357"/>
        <seriesInfo seriesName="iShares iBoxx $ Investment Grade Corporate Bond ETF" seriesId="S000004361"/>
        <seriesInfo seriesName="iShares National Muni Bond ETF" seriesId="S000018861"/>
        <seriesInfo seriesName="iShares iBoxx $ High Yield Corporate Bond ETF" seriesId="S000016772"/>
        <seriesInfo seriesName="iShares ESG USD Corporate Bond ETF" seriesId="S000058037"/>
        <seriesInfo seriesName="iShares Short-Term Corporate Bond ETF" seriesId="S000013697"/>
        <seriesInfo seriesName="iShares Intermediate Government/Credit Bond ETF" seriesId="S000013700"/>
        <seriesInfo seriesName="iShares Core 10+ Year USD Bond ETF" seriesId="S000026652"/>
        <seriesInfo seriesName="iShares Core U.S. Aggregate Bond ETF" seriesId="S000004362"/>
        <seriesInfo seriesName="iShares Edge Investment Grade Enhanced Bond ETF" seriesId="S000057342"/>
        <seriesInfo seriesName="iShares 3-7 Year Treasury Bond ETF" seriesId="S000013695"/>
        <seriesInfo seriesName="iShares Intermediate-Term Corporate Bond ETF" seriesId="S000013698"/>
        <seriesInfo seriesName="iShares ESG U.S. Aggregate Bond ETF" seriesId="S000062159"/>
        <seriesInfo seriesName="iShares 20+ Year Treasury Bond ETF" seriesId="S000004360"/>
        <seriesInfo seriesName="iShares ESG 1-5 Year USD Corporate Bond ETF" seriesId="S000058036"/>
        <seriesInfo seriesName="iShares Government/Credit Bond ETF" seriesId="S000013701"/>
      </paymentDividendSeries>
    </registrantInfo>
    <managementInvestmentQuestionSeriesInfo>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares iBoxx $ High Yield Corporate Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000016772</mgmtInvSeriesId>
        <mgmtInvLei>549300FCCXHK7O37PQ68</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares iBoxx $ High Yield Corporate Bond ETF" sharesOutstandingClassId="C000046846" sharesOutstandingTickerSymbol="HYG"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.45510000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.45510000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.23560000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.23560000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
          <masterFeederFundInfo fundType="Master-Feeder Fund"/>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>3219195725.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>22007060.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
          <custodian>
            <custodianName>Euroclear Limited</custodianName>
            <custodianLei>54930045L3MXWBD27H71</custodianLei>
            <custodianCountry>CH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated</custodianName>
            <custodianLei>8NAV47T0Y26Q87Y0QP81</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Deutsche Bank Aktiengesellschaft (Amsterdam, Noord Holland, NL, Branch)</custodianName>
            <custodianLei>7LTWFZYICNSX8D621K86</custodianLei>
            <custodianCountry>NL</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>BofAML Securities, Inc.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>461.13000000</grossCommission>
          </broker>
          <broker>
            <brokerName>UBS Securities LLC</brokerName>
            <brokerFileNo>8-22651</brokerFileNo>
            <brokerCrdNo>000007654</brokerCrdNo>
            <brokerLei>T6FIZBDPKLYJKFCRVK44</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>757.81000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Credit Suisse Securities (USA) LLC</brokerName>
            <brokerFileNo>8-422</brokerFileNo>
            <brokerCrdNo>000000816</brokerCrdNo>
            <brokerLei>1V8Y6QCX6YMJ2OELII46</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>661.04000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Morgan Stanley &amp; Co. LLC</brokerName>
            <brokerFileNo>8-15869</brokerFileNo>
            <brokerCrdNo>000008209</brokerCrdNo>
            <brokerLei>9R7GPTSO7KV3UQJZQ078</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1857.09000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>3737.07000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>14139167487.48006000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Jefferies LLC</principalName>
            <principalFileNo>8-15074</principalFileNo>
            <principalCrdNo>000002347</principalCrdNo>
            <principalLei>58PU97L1C0WSRCWADL48</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>545067833.89000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>32912268809.16959400</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Credit Suisse Securities (USA) LLC</principalName>
            <principalFileNo>8-422</principalFileNo>
            <principalCrdNo>000000816</principalCrdNo>
            <principalLei>1V8Y6QCX6YMJ2OELII46</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>121996562.33000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1254597110.87000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>5131461560.84003300</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>76310619.05000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>21865898475.27942700</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>RBC Capital Markets, LLC</principalName>
            <principalFileNo>8-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>549300LCO2FLSSVFFR64</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>805182679.60999900</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>277385705.28000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>77365697845.46911300</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>14822476713.96076600</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares Government/Credit Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000013701</mgmtInvSeriesId>
        <mgmtInvLei>5493005N2TW2082UOF16</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares Government/Credit Bond ETF" sharesOutstandingClassId="C000037543" sharesOutstandingTickerSymbol="GBF"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.21950000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.21950000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.08940000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.08940000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>873472.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>5364.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
          <custodian>
            <custodianName>J.P. Morgan Securities LLC</custodianName>
            <custodianLei>ZBUT11V806EZRVTWT807</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>33199591.68000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>5014021.35000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Pershing LLC</principalName>
            <principalFileNo>8-17574</principalFileNo>
            <principalCrdNo>000007560</principalCrdNo>
            <principalLei>ZI8Q1A8EI8LQFJNM0D94</principalLei>
            <principalStateCountry principalState="US-NJ" principalCountry="US"/>
            <principalTotalPurchaseSale>3369779.71000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Deutsche Bank Securities Inc.</principalName>
            <principalFileNo>8-17822</principalFileNo>
            <principalCrdNo>000002525</principalCrdNo>
            <principalLei>9J6MBOOO7BECTDTUZW19</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>5157666.95000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Credit Agricole SA</principalName>
            <principalFileNo>8-13753</principalFileNo>
            <principalCrdNo>000000190</principalCrdNo>
            <principalLei>969500TJ5KRTCJQWXH05</principalLei>
            <principalCountry>FR</principalCountry>
            <principalTotalPurchaseSale>3178270.70000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>7439771.30000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>6479007.50000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>29831451.58000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>5225184.15000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>2001656.27000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>109692519.31000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>128366495.28230768</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares ESG USD Corporate Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000058037</mgmtInvSeriesId>
        <mgmtInvLei>549300HXNJ8AFSTTJQ11</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares ESG USD Corporate Bond ETF" sharesOutstandingClassId="C000189865" sharesOutstandingTickerSymbol="SUSC"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.16030000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.16030000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.29500000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.29500000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>804043.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>2663.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
          <custodian>
            <custodianName>Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated</custodianName>
            <custodianLei>8NAV47T0Y26Q87Y0QP81</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>394449.60000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Pershing LLC</principalName>
            <principalFileNo>8-17574</principalFileNo>
            <principalCrdNo>000007560</principalCrdNo>
            <principalLei>ZI8Q1A8EI8LQFJNM0D94</principalLei>
            <principalStateCountry principalState="US-NJ" principalCountry="US"/>
            <principalTotalPurchaseSale>1360883.70000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1230803.10000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>537267.45000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>STIFEL NICOLAUS &amp; CO INC.</principalName>
            <principalFileNo>8-1447</principalFileNo>
            <principalCrdNo>000000793</principalCrdNo>
            <principalLei>5WUVMA08EYG4KEUPW589</principalLei>
            <principalStateCountry principalState="US-MO" principalCountry="US"/>
            <principalTotalPurchaseSale>302411.50000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>575027.25000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>11454705.94000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>637150.55000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>William Blair &amp; Company, L.L.C.</principalName>
            <principalFileNo>8-2698</principalFileNo>
            <principalCrdNo>000001252</principalCrdNo>
            <principalLei>549300J0P7XYE8BMZ775</principalLei>
            <principalStateCountry principalState="US-IL" principalCountry="US"/>
            <principalTotalPurchaseSale>248860.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Jane Street Capital, LLC</principalName>
            <principalFileNo>8-52275</principalFileNo>
            <principalCrdNo>000103782</principalCrdNo>
            <principalLei>549300ZM16HMPEPNV857</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1178830.02000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>18953347.77000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>17257593.64538461</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares 20+ Year Treasury Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000004360</mgmtInvSeriesId>
        <mgmtInvLei>549300WWURKS1JGBZU59</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares 20+ Year Treasury Bond ETF" sharesOutstandingClassId="C000012090" sharesOutstandingTickerSymbol="TLT"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.14640000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.14640000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.09330000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.09330000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Wells Fargo Securities, LLC</custodianName>
            <custodianLei>VYVVCKR63DVZZN70PB21</custodianLei>
            <custodianStateCountry custodianState="US-NC" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Deutsche Bank Securities Inc.</principalName>
            <principalFileNo>8-17822</principalFileNo>
            <principalCrdNo>000002525</principalCrdNo>
            <principalLei>9J6MBOOO7BECTDTUZW19</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3396965434.79000300</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Societe Generale</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>000000000</principalCrdNo>
            <principalLei>O2RNE8IBXP4R0TD8PU41</principalLei>
            <principalCountry>FR</principalCountry>
            <principalTotalPurchaseSale>1006727388.22000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>RBC Capital Markets, LLC</principalName>
            <principalFileNo>8-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>549300LCO2FLSSVFFR64</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>528417525.77000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP Paribas Securities Corp.</principalName>
            <principalFileNo>8-32682</principalFileNo>
            <principalCrdNo>000015794</principalCrdNo>
            <principalLei>RCNB6OTYUAMMP879YW96</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>563735878.41000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>HSBC Securities (USA) Inc.</principalName>
            <principalFileNo>8-41562</principalFileNo>
            <principalCrdNo>000019585</principalCrdNo>
            <principalLei>CYYGQCGNHMHPSMRL3R97</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>469773954.58000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1537305617.81000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>19170453788.69999000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>17583574264.64000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>342849835.04000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1229743849.29000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>46672978390.50999300</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>8123598094.50000000</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares Long-Term Corporate Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000026651</mgmtInvSeriesId>
        <mgmtInvLei>5493002XJCHL78PKW767</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares Long-Term Corporate Bond ETF" sharesOutstandingClassId="C000080009" sharesOutstandingTickerSymbol="IGLB"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.41470000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.41570000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.27320000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.27330000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>47549205.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>166305.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
          <custodian>
            <custodianName>Wells Fargo Securities, LLC</custodianName>
            <custodianLei>VYVVCKR63DVZZN70PB21</custodianLei>
            <custodianStateCountry custodianState="US-NC" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>43954585.29000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>87814827.02000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>14896671.35000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>21143456.47000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Jefferies LLC</principalName>
            <principalFileNo>8-15074</principalFileNo>
            <principalCrdNo>000002347</principalCrdNo>
            <principalLei>58PU97L1C0WSRCWADL48</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>10951100.25000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>241689490.76000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP Paribas Securities Corp.</principalName>
            <principalFileNo>8-32682</principalFileNo>
            <principalCrdNo>000015794</principalCrdNo>
            <principalLei>RCNB6OTYUAMMP879YW96</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>9582509.10000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>26325221.40000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>181446686.73000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Pershing LLC</principalName>
            <principalFileNo>8-17574</principalFileNo>
            <principalCrdNo>000007560</principalCrdNo>
            <principalLei>ZI8Q1A8EI8LQFJNM0D94</principalLei>
            <principalStateCountry principalState="US-NJ" principalCountry="US"/>
            <principalTotalPurchaseSale>25379476.77000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>725992486.06000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>601326488.55769230</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares Short-Term National Muni Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000023507</mgmtInvSeriesId>
        <mgmtInvLei>5493006UX6BTVQQ8GI65</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares Short-Term National Muni Bond ETF" sharesOutstandingClassId="C000069126" sharesOutstandingTickerSymbol="SUB"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.16820000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.16930000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.13690000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.13690000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>30720702.55000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Jefferies LLC</principalName>
            <principalFileNo>8-15074</principalFileNo>
            <principalCrdNo>000002347</principalCrdNo>
            <principalLei>58PU97L1C0WSRCWADL48</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>23330810.25000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>58908900.55000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Pershing LLC</principalName>
            <principalFileNo>8-17574</principalFileNo>
            <principalCrdNo>000007560</principalCrdNo>
            <principalLei>ZI8Q1A8EI8LQFJNM0D94</principalLei>
            <principalStateCountry principalState="US-NJ" principalCountry="US"/>
            <principalTotalPurchaseSale>97480678.18000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>313278102.90000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>168912020.45000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>67586750.05000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>158886196.95000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>UBS Securities LLC</principalName>
            <principalFileNo>8-22651</principalFileNo>
            <principalCrdNo>000007654</principalCrdNo>
            <principalLei>T6FIZBDPKLYJKFCRVK44</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>22490642.25000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>268557942.40000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>1255886099.93000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>1725896713.81461550</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares Edge Investment Grade Enhanced Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000057342</mgmtInvSeriesId>
        <mgmtInvLei>549300QBLHV9U0KL0M22</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares Edge Investment Grade Enhanced Bond ETF" sharesOutstandingClassId="C000182993" sharesOutstandingTickerSymbol="IGEB"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.22320000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.22320000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.20290000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.20290000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>1874426.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>5901.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated</custodianName>
            <custodianLei>8NAV47T0Y26Q87Y0QP81</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>14411117.20000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Credit Suisse Securities (USA) LLC</principalName>
            <principalFileNo>8-422</principalFileNo>
            <principalCrdNo>000000816</principalCrdNo>
            <principalLei>1V8Y6QCX6YMJ2OELII46</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4545304.60000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>9433523.80000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>28851038.65000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Deutsche Bank Securities Inc.</principalName>
            <principalFileNo>8-17822</principalFileNo>
            <principalCrdNo>000002525</principalCrdNo>
            <principalLei>9J6MBOOO7BECTDTUZW19</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3074501.45000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>14806671.30000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>8236425.94000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>12214677.15000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Pershing LLC</principalName>
            <principalFileNo>8-17574</principalFileNo>
            <principalCrdNo>000007560</principalCrdNo>
            <principalLei>ZI8Q1A8EI8LQFJNM0D94</principalLei>
            <principalStateCountry principalState="US-NJ" principalCountry="US"/>
            <principalTotalPurchaseSale>31133076.88000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3457848.90000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>148469533.46000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>51856958.45769231</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares Agency Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000023506</mgmtInvSeriesId>
        <mgmtInvLei>54930076RN5EDP4FSR30</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares Agency Bond ETF" sharesOutstandingClassId="C000069125" sharesOutstandingTickerSymbol="AGZ"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.01930000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.01930000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.25780000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.25780000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
          <custodian>
            <custodianName>Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated</custodianName>
            <custodianLei>8NAV47T0Y26Q87Y0QP81</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Deutsche Bank Securities Inc.</principalName>
            <principalFileNo>8-17822</principalFileNo>
            <principalCrdNo>000002525</principalCrdNo>
            <principalLei>9J6MBOOO7BECTDTUZW19</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>45310679.23000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>KeyBanc Capital Markets Inc.</principalName>
            <principalFileNo>8-30177</principalFileNo>
            <principalCrdNo>000000566</principalCrdNo>
            <principalLei>2EQWV0180Z211YVAD813</principalLei>
            <principalStateCountry principalState="US-OH" principalCountry="US"/>
            <principalTotalPurchaseSale>27135563.50000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>HSBC Securities (USA) Inc.</principalName>
            <principalFileNo>8-41562</principalFileNo>
            <principalCrdNo>000019585</principalCrdNo>
            <principalLei>CYYGQCGNHMHPSMRL3R97</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>37164089.34000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>19327639.05000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>327336395.27000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>The Bank of New York Mellon</principalName>
            <principalFileNo>8-35255</principalFileNo>
            <principalCrdNo>000017454</principalCrdNo>
            <principalLei>HPFHU0OQ28E4N0NFVK49</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>72787384.80000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Nomura Holdings, Inc.</principalName>
            <principalFileNo>8-24357</principalFileNo>
            <principalCrdNo>000110814</principalCrdNo>
            <principalLei>549300B3CEAHYG7K8164</principalLei>
            <principalCountry>JP</principalCountry>
            <principalTotalPurchaseSale>161447751.96000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>26005125.45000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>42745112.09000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>122821187.55000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>950420189.60000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>458183230.11076920</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares Edge High Yield Defensive Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000057341</mgmtInvSeriesId>
        <mgmtInvLei>54930005IQ49IXN46616</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares Edge High Yield Defensive Bond ETF" sharesOutstandingClassId="C000182992" sharesOutstandingTickerSymbol="HYDB"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.24530000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.24530000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.27710000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.27710000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>2391388.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>14243.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
          <custodian>
            <custodianName>Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated</custodianName>
            <custodianLei>8NAV47T0Y26Q87Y0QP81</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BNP Paribas Securities Corp.</principalName>
            <principalFileNo>8-32682</principalFileNo>
            <principalCrdNo>000015794</principalCrdNo>
            <principalLei>RCNB6OTYUAMMP879YW96</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>579737.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1383291.50000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2663493.95000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Pershing LLC</principalName>
            <principalFileNo>8-17574</principalFileNo>
            <principalCrdNo>000007560</principalCrdNo>
            <principalLei>ZI8Q1A8EI8LQFJNM0D94</principalLei>
            <principalStateCountry principalState="US-NJ" principalCountry="US"/>
            <principalTotalPurchaseSale>7832773.18000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>RBC Capital Markets, LLC</principalName>
            <principalFileNo>8-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>549300LCO2FLSSVFFR64</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>376910.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>772277.50000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1122189.75000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1555436.65000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>478078.25000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2771746.35000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>21499047.38000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>15190878.53076923</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares Core 10+ Year USD Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000026652</mgmtInvSeriesId>
        <mgmtInvLei>549300AS0BPHN7FEW779</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares Core 10+ Year USD Bond ETF" sharesOutstandingClassId="C000080010" sharesOutstandingTickerSymbol="ILTB"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.08340000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.08340000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.17130000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.17130000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>939609.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>4924.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Euroclear Limited</custodianName>
            <custodianLei>54930045L3MXWBD27H71</custodianLei>
            <custodianCountry>CH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
          </custodian>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
          <custodian>
            <custodianName>J.P. Morgan Securities LLC</custodianName>
            <custodianLei>ZBUT11V806EZRVTWT807</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>78501693.67000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>48310162.76000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3757965.25000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>RBC Capital Markets, LLC</principalName>
            <principalFileNo>8-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>549300LCO2FLSSVFFR64</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3859791.71000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Pershing LLC</principalName>
            <principalFileNo>8-17574</principalFileNo>
            <principalCrdNo>000007560</principalCrdNo>
            <principalLei>ZI8Q1A8EI8LQFJNM0D94</principalLei>
            <principalStateCountry principalState="US-NJ" principalCountry="US"/>
            <principalTotalPurchaseSale>2249560.52000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Deutsche Bank Securities Inc.</principalName>
            <principalFileNo>8-17822</principalFileNo>
            <principalCrdNo>000002525</principalCrdNo>
            <principalLei>9J6MBOOO7BECTDTUZW19</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1956521.57000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>1653704.63000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Raymond James &amp; Associates, Inc.</principalName>
            <principalFileNo>8-10999</principalFileNo>
            <principalCrdNo>000000705</principalCrdNo>
            <principalLei>U4ONQX15J3RO8XCKE979</principalLei>
            <principalStateCountry principalState="US-FL" principalCountry="US"/>
            <principalTotalPurchaseSale>1237832.30000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>58236908.11000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1893574.16000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>206920739.22000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>216514639.24307695</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares National Muni Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000018861</mgmtInvSeriesId>
        <mgmtInvLei>549300H21FUYFQW9N157</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares National Muni Bond ETF" sharesOutstandingClassId="C000052220" sharesOutstandingTickerSymbol="MUB"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.14380000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.14490000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.12400000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.12400000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Raymond James &amp; Associates, Inc.</principalName>
            <principalFileNo>8-10999</principalFileNo>
            <principalCrdNo>000000705</principalCrdNo>
            <principalLei>U4ONQX15J3RO8XCKE979</principalLei>
            <principalStateCountry principalState="US-FL" principalCountry="US"/>
            <principalTotalPurchaseSale>19248604.75000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>292800995.35000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Pershing LLC</principalName>
            <principalFileNo>8-17574</principalFileNo>
            <principalCrdNo>000007560</principalCrdNo>
            <principalLei>ZI8Q1A8EI8LQFJNM0D94</principalLei>
            <principalStateCountry principalState="US-NJ" principalCountry="US"/>
            <principalTotalPurchaseSale>818862941.35000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3214720052.46000200</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1435562107.90000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>180814390.20000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>84579164.80000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>178669755.45000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>RBC Capital Markets, LLC</principalName>
            <principalFileNo>8-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>549300LCO2FLSSVFFR64</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>103984622.70000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Jefferies LLC</principalName>
            <principalFileNo>8-15074</principalFileNo>
            <principalCrdNo>000002347</principalCrdNo>
            <principalLei>58PU97L1C0WSRCWADL48</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>38001158.90000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>6448112995.16000200</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>10066074613.28384600</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares Short-Term Corporate Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000013697</mgmtInvSeriesId>
        <mgmtInvLei>549300T14S5IX7V5T008</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares Short-Term Corporate Bond ETF" sharesOutstandingClassId="C000037539" sharesOutstandingTickerSymbol="IGSB"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.21480000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.21570000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.12830000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.12830000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>675205835.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>2261380.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Euroclear Limited</custodianName>
            <custodianLei>54930045L3MXWBD27H71</custodianLei>
            <custodianCountry>CH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
          </custodian>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
          <custodian>
            <custodianName>SG Americas Securities, LLC</custodianName>
            <custodianLei>549300F35UE0BOM1WJ55</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>RBC Capital Markets, LLC</principalName>
            <principalFileNo>8-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>549300LCO2FLSSVFFR64</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>506903032.39000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Pershing LLC</principalName>
            <principalFileNo>8-17574</principalFileNo>
            <principalCrdNo>000007560</principalCrdNo>
            <principalLei>ZI8Q1A8EI8LQFJNM0D94</principalLei>
            <principalStateCountry principalState="US-NJ" principalCountry="US"/>
            <principalTotalPurchaseSale>1855394373.59000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>803756076.05000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>701130825.09000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2168634775.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1603793087.22000100</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4260125260.55000300</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>962525191.52000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>The Bank of New York Mellon</principalName>
            <principalFileNo>8-35255</principalFileNo>
            <principalCrdNo>000017454</principalCrdNo>
            <principalLei>HPFHU0OQ28E4N0NFVK49</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>646376647.79000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2845303604.87000300</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>19188487181.62000700</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>10506728363.61384800</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares Short Treasury Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000013694</mgmtInvSeriesId>
        <mgmtInvLei>549300F8ZJ4IZLOOBP30</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares Short Treasury Bond ETF" sharesOutstandingClassId="C000037536" sharesOutstandingTickerSymbol="SHV"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.15630000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.15780000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.06900000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.06910000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>167292227.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>172692.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
          <custodian>
            <custodianName>SG Americas Securities, LLC</custodianName>
            <custodianLei>549300F35UE0BOM1WJ55</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Nomura Holdings, Inc.</principalName>
            <principalFileNo>8-24357</principalFileNo>
            <principalCrdNo>000110814</principalCrdNo>
            <principalLei>549300B3CEAHYG7K8164</principalLei>
            <principalCountry>JP</principalCountry>
            <principalTotalPurchaseSale>1943387628.05000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3466232850.93000200</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>10865118552.81000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3374547247.60000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>5450239454.28000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>15600694959.79001200</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BMO Capital Markets Corp.</principalName>
            <principalFileNo>008-34344</principalFileNo>
            <principalCrdNo>000016686</principalCrdNo>
            <principalLei>RUC0QBLBRPRCU4W1NE59</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4364184605.90000100</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>9693773312.88000300</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>12515853733.30999800</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Credit Agricole SA</principalName>
            <principalFileNo>8-13753</principalFileNo>
            <principalCrdNo>000000190</principalCrdNo>
            <principalLei>969500TJ5KRTCJQWXH05</principalLei>
            <principalCountry>FR</principalCountry>
            <principalTotalPurchaseSale>2909823904.68000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>76972981071.44001600</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>15605479133.45077100</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares New York Muni Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000019342</mgmtInvSeriesId>
        <mgmtInvLei>549300U0W2QKLJLFRJ55</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares New York Muni Bond ETF" sharesOutstandingClassId="C000053740" sharesOutstandingTickerSymbol="NYF"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.19040000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.19040000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.16160000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.16160000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>21380458.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>National Financial Services Corporation</principalName>
            <principalFileNo>8-26740</principalFileNo>
            <principalCrdNo>000013041</principalCrdNo>
            <principalLei>549300EJM5SBRQSYKC50</principalLei>
            <principalStateCountry principalState="US-MA" principalCountry="US"/>
            <principalTotalPurchaseSale>28504457.75000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>5465044.80000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>9041153.05000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>17851073.50000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>UBS Securities LLC</principalName>
            <principalFileNo>8-22651</principalFileNo>
            <principalCrdNo>000007654</principalCrdNo>
            <principalLei>T6FIZBDPKLYJKFCRVK44</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3706771.70000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>7690673.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Pershing LLC</principalName>
            <principalFileNo>8-17574</principalFileNo>
            <principalCrdNo>000007560</principalCrdNo>
            <principalLei>ZI8Q1A8EI8LQFJNM0D94</principalLei>
            <principalStateCountry principalState="US-NJ" principalCountry="US"/>
            <principalTotalPurchaseSale>11071932.90000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>28219154.15000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Jefferies LLC</principalName>
            <principalFileNo>8-15074</principalFileNo>
            <principalCrdNo>000002347</principalCrdNo>
            <principalLei>58PU97L1C0WSRCWADL48</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2807265.00000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>144103676.15000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>310911771.94923080</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares MBS ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000013702</mgmtInvSeriesId>
        <mgmtInvLei>549300M0TH0IE2E6RP07</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares MBS ETF" sharesOutstandingClassId="C000037544" sharesOutstandingTickerSymbol="MBB"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.05280000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.05360000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.12010000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.12000000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4338948763.25000200</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>5316361563.94000200</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Credit Suisse Securities (USA) LLC</principalName>
            <principalFileNo>8-422</principalFileNo>
            <principalCrdNo>000000816</principalCrdNo>
            <principalLei>1V8Y6QCX6YMJ2OELII46</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>19828259562.21999400</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>6443534718.60000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>1831067618.32000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Nomura Holdings, Inc.</principalName>
            <principalFileNo>8-24357</principalFileNo>
            <principalCrdNo>000110814</principalCrdNo>
            <principalLei>549300B3CEAHYG7K8164</principalLei>
            <principalCountry>JP</principalCountry>
            <principalTotalPurchaseSale>9404674541.39000700</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>15752583689.24000500</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>7123627617.94000200</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>RBC Capital Markets, LLC</principalName>
            <principalFileNo>8-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>549300LCO2FLSSVFFR64</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1488085017.80000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>15019808080.73001500</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>88336618617.31002700</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>12434899778.01846100</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares California Muni Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000019341</mgmtInvSeriesId>
        <mgmtInvLei>5493005PBQ3IFT3REX09</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares California Muni Bond ETF" sharesOutstandingClassId="C000053739" sharesOutstandingTickerSymbol="CMF"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.26820000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.26820000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.16520000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.16520000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>129286541.95000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>UBS Securities LLC</principalName>
            <principalFileNo>8-22651</principalFileNo>
            <principalCrdNo>000007654</principalCrdNo>
            <principalLei>T6FIZBDPKLYJKFCRVK44</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>33392678.75000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>111446414.80000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>RBC Capital Markets, LLC</principalName>
            <principalFileNo>8-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>549300LCO2FLSSVFFR64</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>69896374.80000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>56622060.80000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>National Financial Services Corporation</principalName>
            <principalFileNo>8-26740</principalFileNo>
            <principalCrdNo>000013041</principalCrdNo>
            <principalLei>549300EJM5SBRQSYKC50</principalLei>
            <principalStateCountry principalState="US-MA" principalCountry="US"/>
            <principalTotalPurchaseSale>58145764.25000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Pershing LLC</principalName>
            <principalFileNo>8-17574</principalFileNo>
            <principalCrdNo>000007560</principalCrdNo>
            <principalLei>ZI8Q1A8EI8LQFJNM0D94</principalLei>
            <principalStateCountry principalState="US-NJ" principalCountry="US"/>
            <principalTotalPurchaseSale>62753453.05000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>205593194.40000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>92945680.55000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>115213321.80000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>959501188.05000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>1022246108.90076910</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares 3-7 Year Treasury Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000013695</mgmtInvSeriesId>
        <mgmtInvLei>549300BUGBHWMFPSNL42</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares 3-7 Year Treasury Bond ETF" sharesOutstandingClassId="C000037537" sharesOutstandingTickerSymbol="IEI"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.12220000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.12220000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.07570000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.07570000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
          <custodian>
            <custodianName>SG Americas Securities, LLC</custodianName>
            <custodianLei>549300F35UE0BOM1WJ55</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Nomura Holdings, Inc.</principalName>
            <principalFileNo>8-24357</principalFileNo>
            <principalCrdNo>000110814</principalCrdNo>
            <principalLei>549300B3CEAHYG7K8164</principalLei>
            <principalCountry>JP</principalCountry>
            <principalTotalPurchaseSale>408358712.78000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>352176067.34000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2615286487.07000200</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3736666142.28000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>360193974.89000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>258616644.34000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3198943162.62000500</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>The Bank of New York Mellon</principalName>
            <principalFileNo>8-35255</principalFileNo>
            <principalCrdNo>000017454</principalCrdNo>
            <principalLei>HPFHU0OQ28E4N0NFVK49</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>100440622.51000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Deutsche Bank Securities Inc.</principalName>
            <principalFileNo>8-17822</principalFileNo>
            <principalCrdNo>000002525</principalCrdNo>
            <principalLei>9J6MBOOO7BECTDTUZW19</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>269111583.83000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>UBS Securities LLC</principalName>
            <principalFileNo>8-22651</principalFileNo>
            <principalCrdNo>000007654</principalCrdNo>
            <principalLei>T6FIZBDPKLYJKFCRVK44</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>84810176.00000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>11529367401.31000700</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>7454496667.25692400</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares 1-3 Year Treasury Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000004357</mgmtInvSeriesId>
        <mgmtInvLei>549300W0WX9TL4G6HM56</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares 1-3 Year Treasury Bond ETF" sharesOutstandingClassId="C000012087" sharesOutstandingTickerSymbol="SHY"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.11960000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.11960000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.08540000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.08540000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>2868751.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>7051.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>SG Americas Securities, LLC</custodianName>
            <custodianLei>549300F35UE0BOM1WJ55</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Daiwa Capital Markets America Inc.</principalName>
            <principalFileNo>8-12242</principalFileNo>
            <principalCrdNo>000001576</principalCrdNo>
            <principalLei>M67H5PRC0NQKM73ZAS82</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1106117156.40000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>RBC Capital Markets, LLC</principalName>
            <principalFileNo>8-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>549300LCO2FLSSVFFR64</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1950504932.47000300</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1838675430.70000100</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>9486576981.15007800</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>817231743.57000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>1509955858.97000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>5951907783.90001400</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Deutsche Bank Securities Inc.</principalName>
            <principalFileNo>8-17822</principalFileNo>
            <principalCrdNo>000002525</principalCrdNo>
            <principalLei>9J6MBOOO7BECTDTUZW19</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1355968503.14000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2011172697.48000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>9543069556.38000100</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>36928613633.88009700</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>15022205021.40692100</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares ESG U.S. Aggregate Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000062159</mgmtInvSeriesId>
        <mgmtInvLei>549300ZH4AMJV5ZGCV06</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares ESG U.S. Aggregate Bond ETF" sharesOutstandingClassId="C000201167" sharesOutstandingTickerSymbol="EAGG"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>0.20020000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>0.19730000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.12290000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.12250000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>18438.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>112.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Euroclear Limited</custodianName>
            <custodianLei>54930045L3MXWBD27H71</custodianLei>
            <custodianCountry>CH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
          </custodian>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>7921142.74000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>22205412.27000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>11799617.34000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>21447324.97000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Nomura Holdings, Inc.</principalName>
            <principalFileNo>8-24357</principalFileNo>
            <principalCrdNo>000110814</principalCrdNo>
            <principalLei>549300B3CEAHYG7K8164</principalLei>
            <principalCountry>JP</principalCountry>
            <principalTotalPurchaseSale>13782819.74000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Credit Suisse Securities (USA) LLC</principalName>
            <principalFileNo>8-422</principalFileNo>
            <principalCrdNo>000000816</principalCrdNo>
            <principalLei>1V8Y6QCX6YMJ2OELII46</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>13176753.23000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>22644747.12000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>6196857.54000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>25635085.07000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>The Bank of New York Mellon</principalName>
            <principalFileNo>8-35255</principalFileNo>
            <principalCrdNo>000017454</principalCrdNo>
            <principalLei>HPFHU0OQ28E4N0NFVK49</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4377042.00000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>161595992.00000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>55836244.11400000</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares 7-10 Year Treasury Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000004358</mgmtInvSeriesId>
        <mgmtInvLei>549300XS1PPZG92M8L16</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares 7-10 Year Treasury Bond ETF" sharesOutstandingClassId="C000012088" sharesOutstandingTickerSymbol="IEF"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.06780000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.06780000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.09960000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.09960000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>713.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
          <custodian>
            <custodianName>Wells Fargo Securities, LLC</custodianName>
            <custodianLei>VYVVCKR63DVZZN70PB21</custodianLei>
            <custodianStateCountry custodianState="US-NC" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3692916876.50000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>9437275707.13001300</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>749019059.73000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Societe Generale</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>000000000</principalCrdNo>
            <principalLei>O2RNE8IBXP4R0TD8PU41</principalLei>
            <principalCountry>FR</principalCountry>
            <principalTotalPurchaseSale>388306443.96000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP Paribas Securities Corp.</principalName>
            <principalFileNo>8-32682</principalFileNo>
            <principalCrdNo>000015794</principalCrdNo>
            <principalLei>RCNB6OTYUAMMP879YW96</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>423365684.01000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>10699119848.26000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2698669702.07000300</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>The Bank of New York Mellon</principalName>
            <principalFileNo>8-35255</principalFileNo>
            <principalCrdNo>000017454</principalCrdNo>
            <principalLei>HPFHU0OQ28E4N0NFVK49</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1228352023.24000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Deutsche Bank Securities Inc.</principalName>
            <principalFileNo>8-17822</principalFileNo>
            <principalCrdNo>000002525</principalCrdNo>
            <principalLei>9J6MBOOO7BECTDTUZW19</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1473993336.26000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>793298749.70000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>32645495136.14001600</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>9407106692.04000000</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares 10-20 Year Treasury Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000013696</mgmtInvSeriesId>
        <mgmtInvLei>549300MH5J7BUV0VS287</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares 10-20 Year Treasury Bond ETF" sharesOutstandingClassId="C000037538" sharesOutstandingTickerSymbol="TLH"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.14780000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.14780000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.09700000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.09700000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
          <custodian>
            <custodianName>Wells Fargo Securities, LLC</custodianName>
            <custodianLei>VYVVCKR63DVZZN70PB21</custodianLei>
            <custodianStateCountry custodianState="US-NC" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>469309291.75000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Deutsche Bank Securities Inc.</principalName>
            <principalFileNo>8-17822</principalFileNo>
            <principalCrdNo>000002525</principalCrdNo>
            <principalLei>9J6MBOOO7BECTDTUZW19</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2751906.54000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>310440864.51000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>UBS Securities LLC</principalName>
            <principalFileNo>8-22651</principalFileNo>
            <principalCrdNo>000007654</principalCrdNo>
            <principalLei>T6FIZBDPKLYJKFCRVK44</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>59810501.28000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>50309892.21000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>2984773.81000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>391912728.03000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>The Bank of New York Mellon</principalName>
            <principalFileNo>8-35255</principalFileNo>
            <principalCrdNo>000017454</principalCrdNo>
            <principalLei>HPFHU0OQ28E4N0NFVK49</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1256447.31000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>HSBC Securities (USA) Inc.</principalName>
            <principalFileNo>8-41562</principalFileNo>
            <principalCrdNo>000019585</principalCrdNo>
            <principalLei>CYYGQCGNHMHPSMRL3R97</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3093110.51000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP Paribas Securities Corp.</principalName>
            <principalFileNo>8-32682</principalFileNo>
            <principalCrdNo>000015794</principalCrdNo>
            <principalLei>RCNB6OTYUAMMP879YW96</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>41308259.75000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>1334894065.91000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>657811499.87923070</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares Core 5-10 Year USD Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000055401</mgmtInvSeriesId>
        <mgmtInvLei>549300E5GUSCE00FIQ17</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares Core 5-10 Year USD Bond ETF" sharesOutstandingClassId="C000174365" sharesOutstandingTickerSymbol="IMTB"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>0.07890000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>0.07850000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.19590000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.19580000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>411652.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>3143.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Euroclear Limited</custodianName>
            <custodianLei>54930045L3MXWBD27H71</custodianLei>
            <custodianCountry>CH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
          </custodian>
          <custodian>
            <custodianName>J.P. Morgan Securities LLC</custodianName>
            <custodianLei>ZBUT11V806EZRVTWT807</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>7096318.19000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>26729260.29000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>91441203.71000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Nomura Holdings, Inc.</principalName>
            <principalFileNo>8-24357</principalFileNo>
            <principalCrdNo>000110814</principalCrdNo>
            <principalLei>549300B3CEAHYG7K8164</principalLei>
            <principalCountry>JP</principalCountry>
            <principalTotalPurchaseSale>34574778.50000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>32649505.55000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>45606136.07000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Credit Suisse Securities (USA) LLC</principalName>
            <principalFileNo>8-422</principalFileNo>
            <principalCrdNo>000000816</principalCrdNo>
            <principalLei>1V8Y6QCX6YMJ2OELII46</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>110207780.39000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>28505347.87000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>97480052.77000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>The Bank of New York Mellon</principalName>
            <principalFileNo>8-35255</principalFileNo>
            <principalCrdNo>000017454</principalCrdNo>
            <principalLei>HPFHU0OQ28E4N0NFVK49</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4472290.57000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>492447794.52000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>49369649.42923077</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares Core U.S. Aggregate Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000004362</mgmtInvSeriesId>
        <mgmtInvLei>549300F7VSXTKBGHJE47</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares Core U.S. Aggregate Bond ETF" sharesOutstandingClassId="C000012092" sharesOutstandingTickerSymbol="AGG"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.03940000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.03980000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.09490000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.09490000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>247630729.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>1354076.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Euroclear Limited</custodianName>
            <custodianLei>54930045L3MXWBD27H71</custodianLei>
            <custodianCountry>CH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
          </custodian>
          <custodian>
            <custodianName>J.P. Morgan Securities LLC</custodianName>
            <custodianLei>ZBUT11V806EZRVTWT807</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Nomura Holdings, Inc.</principalName>
            <principalFileNo>8-24357</principalFileNo>
            <principalCrdNo>000110814</principalCrdNo>
            <principalLei>549300B3CEAHYG7K8164</principalLei>
            <principalCountry>JP</principalCountry>
            <principalTotalPurchaseSale>15447851670.61000600</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Credit Suisse Securities (USA) LLC</principalName>
            <principalFileNo>8-422</principalFileNo>
            <principalCrdNo>000000816</principalCrdNo>
            <principalLei>1V8Y6QCX6YMJ2OELII46</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>33136326562.33997000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>12352271152.32998500</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>9879652233.56000500</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>RBC Capital Markets, LLC</principalName>
            <principalFileNo>8-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>549300LCO2FLSSVFFR64</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2669208091.75999900</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>12521933156.26000200</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>17760447342.47001000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>31906791411.88996500</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>36275158051.58005500</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>3931187518.98000100</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>181703060290.09999800</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>55632621885.89999400</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares Intermediate Government/Credit Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000013700</mgmtInvSeriesId>
        <mgmtInvLei>549300USOBX01WS0GK74</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares Intermediate Government/Credit Bond ETF" sharesOutstandingClassId="C000037542" sharesOutstandingTickerSymbol="GVI"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.17960000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.17960000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.07880000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.07880000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>15398595.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>96483.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>83425157.28000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>The Bank of New York Mellon</principalName>
            <principalFileNo>8-35255</principalFileNo>
            <principalCrdNo>000017454</principalCrdNo>
            <principalLei>HPFHU0OQ28E4N0NFVK49</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>62636182.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>89647770.43000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>134493347.22000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>327067185.62000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Nomura Holdings, Inc.</principalName>
            <principalFileNo>8-24357</principalFileNo>
            <principalCrdNo>000110814</principalCrdNo>
            <principalLei>549300B3CEAHYG7K8164</principalLei>
            <principalCountry>JP</principalCountry>
            <principalTotalPurchaseSale>34935055.61000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Deutsche Bank Securities Inc.</principalName>
            <principalFileNo>8-17822</principalFileNo>
            <principalCrdNo>000002525</principalCrdNo>
            <principalLei>9J6MBOOO7BECTDTUZW19</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>41650085.06000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>59026668.11000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>806972833.54000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>70918123.65000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>1834186573.73000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>2018184156.98615380</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares iBoxx $ Investment Grade Corporate Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000004361</mgmtInvSeriesId>
        <mgmtInvLei>549300FYCXFXG8POR355</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares iBoxx $ Investment Grade Corporate Bond ETF" sharesOutstandingClassId="C000012091" sharesOutstandingTickerSymbol="LQD"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.09250000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.09250000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.12150000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.12150000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>2963754067.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>10038489.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Wells Fargo Securities, LLC</custodianName>
            <custodianLei>VYVVCKR63DVZZN70PB21</custodianLei>
            <custodianStateCountry custodianState="US-NC" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2848328770.35001600</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>RBC Capital Markets, LLC</principalName>
            <principalFileNo>8-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>549300LCO2FLSSVFFR64</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2344558425.83000700</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>16007864315.35001000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>19193306159.49992800</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Deutsche Bank Securities Inc.</principalName>
            <principalFileNo>8-17822</principalFileNo>
            <principalCrdNo>000002525</principalCrdNo>
            <principalLei>9J6MBOOO7BECTDTUZW19</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>196094091.91000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4022819467.90001000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Pershing LLC</principalName>
            <principalFileNo>8-17574</principalFileNo>
            <principalCrdNo>000007560</principalCrdNo>
            <principalLei>ZI8Q1A8EI8LQFJNM0D94</principalLei>
            <principalStateCountry principalState="US-NJ" principalCountry="US"/>
            <principalTotalPurchaseSale>206486122.08000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4980339455.49999600</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1881476990.15000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>321073072.36000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>53003949326.09996700</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>32307711711.07999400</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares Intermediate-Term Corporate Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000013698</mgmtInvSeriesId>
        <mgmtInvLei>549300ZJOCMXQZ0RKQ84</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares Intermediate-Term Corporate Bond ETF" sharesOutstandingClassId="C000037540" sharesOutstandingTickerSymbol="IGIB"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.02700000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.02800000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.19110000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.19120000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>643949487.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>2591249.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
          <custodian>
            <custodianName>Wells Fargo Securities, LLC</custodianName>
            <custodianLei>VYVVCKR63DVZZN70PB21</custodianLei>
            <custodianStateCountry custodianState="US-NC" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Euroclear Limited</custodianName>
            <custodianLei>54930045L3MXWBD27H71</custodianLei>
            <custodianCountry>CH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>301596937.91000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>The Bank of New York Mellon</principalName>
            <principalFileNo>8-35255</principalFileNo>
            <principalCrdNo>000017454</principalCrdNo>
            <principalLei>HPFHU0OQ28E4N0NFVK49</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>257127892.58000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>596662989.13000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Pershing LLC</principalName>
            <principalFileNo>8-17574</principalFileNo>
            <principalCrdNo>000007560</principalCrdNo>
            <principalLei>ZI8Q1A8EI8LQFJNM0D94</principalLei>
            <principalStateCountry principalState="US-NJ" principalCountry="US"/>
            <principalTotalPurchaseSale>891277564.12000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>834506352.65000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>489235047.92000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2704258441.11999600</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3694952380.92000200</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1388762094.25000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Credit Suisse Securities (USA) LLC</principalName>
            <principalFileNo>8-422</principalFileNo>
            <principalCrdNo>000000816</principalCrdNo>
            <principalLei>1V8Y6QCX6YMJ2OELII46</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>273853211.05000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>13433741932.30999800</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>6201422148.94538400</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares Broad USD Investment Grade Corporate Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000013699</mgmtInvSeriesId>
        <mgmtInvLei>5493004QFMCNV0WLX398</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares Broad USD Investment Grade Corporate Bond ETF" sharesOutstandingClassId="C000037541" sharesOutstandingTickerSymbol="USIG"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.17410000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.17490000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.16820000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.16840000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>198959389.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>698028.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Euroclear Limited</custodianName>
            <custodianLei>54930045L3MXWBD27H71</custodianLei>
            <custodianCountry>CH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Wells Fargo Securities, LLC</custodianName>
            <custodianLei>VYVVCKR63DVZZN70PB21</custodianLei>
            <custodianStateCountry custodianState="US-NC" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>241231611.54000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>64603066.06000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>HSBC Securities (USA) Inc.</principalName>
            <principalFileNo>8-41562</principalFileNo>
            <principalCrdNo>000019585</principalCrdNo>
            <principalLei>CYYGQCGNHMHPSMRL3R97</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>36874418.30000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>78025417.09000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>95023244.78000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Pershing LLC</principalName>
            <principalFileNo>8-17574</principalFileNo>
            <principalCrdNo>000007560</principalCrdNo>
            <principalLei>ZI8Q1A8EI8LQFJNM0D94</principalLei>
            <principalStateCountry principalState="US-NJ" principalCountry="US"/>
            <principalTotalPurchaseSale>97165838.33000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>The Bank of New York Mellon</principalName>
            <principalFileNo>8-35255</principalFileNo>
            <principalCrdNo>000017454</principalCrdNo>
            <principalLei>HPFHU0OQ28E4N0NFVK49</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>55640846.65000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>828038721.36000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>274893074.06000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>83637571.72000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>2150097030.66000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>1899374787.62692300</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>iShares ESG 1-5 Year USD Corporate Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000058036</mgmtInvSeriesId>
        <mgmtInvLei>549300A3SLEQ53E2BD05</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="iShares ESG 1-5 Year USD Corporate Bond ETF" sharesOutstandingClassId="C000189864" sharesOutstandingTickerSymbol="SUSB"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.09070000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.09070000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.28840000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.28840000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Institutional Trust Company, National Association</securitiesAgentName>
            <securitiesAgentLei>549300RK1FB0VMTPD087</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="BlackRock, Inc." idemnityProviderLei="549300LRIF3NWCU26A80"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="BlackRock Fund Advisors" collateralManagerLei="549300YOOGP0Y1M95C20" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>1641887.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>5114.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Fund Advisors</investmentAdviserName>
            <investmentAdviserFileNo>801-22609</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105247</investmentAdviserCrdNo>
            <investmentAdviserLei>549300YOOGP0Y1M95C20</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>State Street Bank and Trust Company</transferAgentName>
            <transferAgentFileNo>85-05003</transferAgentFileNo>
            <transferAgentLei>571474TGEMMWANRLN572</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Standard &amp; Poor's Financial Services LLC</pricingServiceName>
            <pricingServiceLei>549300U4VWNITEKO2881</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
          <custodian>
            <custodianName>Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated</custodianName>
            <custodianLei>8NAV47T0Y26Q87Y0QP81</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>PNC Capital Markets, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-32493</brokerDealerFileNo>
            <brokerDealerCrdNo>000015647</brokerDealerCrdNo>
            <brokerDealerLei>7OGNSSLOQJ8U3B9Y5F18</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Trout Capital LLC</brokerDealerName>
            <brokerDealerFileNo>8-66474</brokerDealerFileNo>
            <brokerDealerCrdNo>000131489</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Solebury Capital, LLC</brokerDealerName>
            <brokerDealerFileNo>8-67548</brokerDealerFileNo>
            <brokerDealerCrdNo>000143299</brokerDealerCrdNo>
            <brokerDealerLei>5493000RFBRZED82XQ81</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Harris Williams LLC</brokerDealerName>
            <brokerDealerFileNo>8-53380</brokerDealerFileNo>
            <brokerDealerCrdNo>000113930</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-VA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PNC Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-66195</brokerDealerFileNo>
            <brokerDealerCrdNo>000129052</brokerDealerCrdNo>
            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-PA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>8471203.08000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>The Bank of New York Mellon</principalName>
            <principalFileNo>8-35255</principalFileNo>
            <principalCrdNo>000017454</principalCrdNo>
            <principalLei>HPFHU0OQ28E4N0NFVK49</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1174854.92000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1359772.65000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>U.S. Bancorp Investments, Inc.</principalName>
            <principalFileNo>8-35359</principalFileNo>
            <principalCrdNo>000017868</principalCrdNo>
            <principalLei>H85Z6XZP8B10ES0M2G89</principalLei>
            <principalStateCountry principalState="US-MN" principalCountry="US"/>
            <principalTotalPurchaseSale>851250.50000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Deutsche Bank Securities Inc.</principalName>
            <principalFileNo>8-17822</principalFileNo>
            <principalCrdNo>000002525</principalCrdNo>
            <principalLei>9J6MBOOO7BECTDTUZW19</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>612147.51000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2665680.34000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMorgan Chase &amp; Co.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>34852769.79000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>950861.33000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofAML Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>18736675.06000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Pershing LLC</principalName>
            <principalFileNo>8-17574</principalFileNo>
            <principalCrdNo>000007560</principalCrdNo>
            <principalLei>ZI8Q1A8EI8LQFJNM0D94</principalLei>
            <principalStateCountry principalState="US-NJ" principalCountry="US"/>
            <principalTotalPurchaseSale>6669170.38000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>78093042.52000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>41873487.94307692</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <exchangeSeriesInfo>
      <exchangeTradedFund>
        <fundName>iShares Core U.S. Aggregate Bond ETF</fundName>
        <etfSeriesId>S000004362</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="ARCX" fundsTickerSymbol="AGG"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="4058299999.20000000" authorizedParticipantRedeemValue="861386422.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="52788870.50000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="159746071.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="63483229.80000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="2284038550.00000000" authorizedParticipantRedeemValue="3821115220.10000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="4065632877.40000000" authorizedParticipantRedeemValue="2878452579.80000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>100000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>29.62559812</averagePercentagePurchased>
        <standardDeviationPurchased>4.12957634</standardDeviationPurchased>
        <creationUnitPurchasedInKind>70.37440187</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>4.12957634</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>26.93428776</averagePercentageRedeemed>
        <percentSDRedeemed>9.63144015</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>73.06571223</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>9.63144015</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>502.9006115</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.01279016</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>502.9006115</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.04402370</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>547.8726471</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00265779</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>547.8726471</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.04410764</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares MBS ETF</fundName>
        <etfSeriesId>S000013702</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="XNAS" fundsTickerSymbol="MBB"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="176956784.90000000" authorizedParticipantRedeemValue="280188147.40000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="1710324441.70000000" authorizedParticipantRedeemValue="865433507.10000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="31018590.90000000" authorizedParticipantRedeemValue="61916585.50000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="1930119307.70000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="72427201.70000000" authorizedParticipantRedeemValue="331251859.80000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="83668198.20000000" authorizedParticipantRedeemValue="103941797.90000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="1383003907.00000000" authorizedParticipantRedeemValue="125302420.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>100000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>34.78938316</averagePercentagePurchased>
        <standardDeviationPurchased>44.82822246</standardDeviationPurchased>
        <creationUnitPurchasedInKind>65.21061683</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>44.82822246</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>100.00000000</averagePercentageRedeemed>
        <percentSDRedeemed>0.00000000</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>0.00000000</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.00000000</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>300.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.01582570</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>300.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.01736075</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>300.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.01000013</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>300.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.01000013</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares 10-20 Year Treasury Bond ETF</fundName>
        <etfSeriesId>S000013696</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="ARCX" fundsTickerSymbol="TLH"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="339879682.90000000" authorizedParticipantRedeemValue="52739360.60000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="196947201.50000000" authorizedParticipantRedeemValue="117792004.90000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="38683697.80000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>100000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>0.37590909</averagePercentagePurchased>
        <standardDeviationPurchased>0.47606181</standardDeviationPurchased>
        <creationUnitPurchasedInKind>99.62409090</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>0.47606181</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>0.27500000</averagePercentageRedeemed>
        <percentSDRedeemed>0.49289958</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>99.72500000</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.49289958</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>500.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00000000</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>500.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00000000</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>500.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>500.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares iBoxx $ Investment Grade Corporate Bond ETF</fundName>
        <etfSeriesId>S000004361</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="ARCX" fundsTickerSymbol="LQD"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="1074287269.00000000" authorizedParticipantRedeemValue="276380883.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="3357015338.80000000" authorizedParticipantRedeemValue="1316124282.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="8947307045.80000000" authorizedParticipantRedeemValue="7581312796.80000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="11520085.70000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="11593715.40000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="11663086.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="79500518.80000000" authorizedParticipantRedeemValue="1600013328.50000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="6515290638.90000000" authorizedParticipantRedeemValue="11708878284.80000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="1559207138.00000000" authorizedParticipantRedeemValue="1262711455.40000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="2593205582.00000000" authorizedParticipantRedeemValue="123865710.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="45196146.80000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>100000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>8.73781377</averagePercentagePurchased>
        <standardDeviationPurchased>22.73568014</standardDeviationPurchased>
        <creationUnitPurchasedInKind>91.26218622</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>22.73568014</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>0.41438966</averagePercentageRedeemed>
        <percentSDRedeemed>0.42824902</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>99.58561033</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.42824902</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>471.45877378</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.01228814</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>471.03004291</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.01247312</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>500.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>500.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares Edge High Yield Defensive Bond ETF</fundName>
        <etfSeriesId>S000057341</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="BATS" fundsTickerSymbol="HYDB"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="2472950.60000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="2457134.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>50000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>100.00000000</averagePercentagePurchased>
        <standardDeviationPurchased>0.00000000</standardDeviationPurchased>
        <creationUnitPurchasedInKind>0.00000000</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>0.00000000</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>0.00000000</averagePercentageRedeemed>
        <percentSDRedeemed>0.00000000</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>0.00000000</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.00000000</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>0.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.47499790</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>0.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.47499790</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>0.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>0.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares ESG USD Corporate Bond ETF</fundName>
        <etfSeriesId>S000058037</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="XNAS" fundsTickerSymbol="SUSC"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="1207149.55000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="10852585.25000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="1205256.35000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>50000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>11.33493131</averagePercentagePurchased>
        <standardDeviationPurchased>31.17263064</standardDeviationPurchased>
        <creationUnitPurchasedInKind>88.66506868</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>31.17263064</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>0.00000000</averagePercentageRedeemed>
        <percentSDRedeemed>0.00000000</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>0.00000000</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.00000000</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>135.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.04000000</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>135.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.04000000</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>0.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>0.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares Intermediate Government/Credit Bond ETF</fundName>
        <etfSeriesId>S000013700</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="BATS" fundsTickerSymbol="GVI"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="124037282.00000000" authorizedParticipantRedeemValue="103269353.75000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="21540507.40000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="16058666.25000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="506424681.05000000" authorizedParticipantRedeemValue="280057871.35000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>50000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>8.16887727</averagePercentagePurchased>
        <standardDeviationPurchased>18.62523288</standardDeviationPurchased>
        <creationUnitPurchasedInKind>91.83112272</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>18.62523288</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>3.36920069</averagePercentageRedeemed>
        <percentSDRedeemed>2.64211555</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>96.63079931</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>2.64211555</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>484.37500000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00312500</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>484.37500000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00312500</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>500.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>500.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares Core 5-10 Year USD Bond ETF</fundName>
        <etfSeriesId>S000055401</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="ARCX" fundsTickerSymbol="IMTB"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="14305976.10000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="9663329.80000000" authorizedParticipantRedeemValue="9512862.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="4764557.30000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>100000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>51.61926602</averagePercentagePurchased>
        <standardDeviationPurchased>2.84030220</standardDeviationPurchased>
        <creationUnitPurchasedInKind>48.38073398</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>2.84030220</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>49.42746706</averagePercentageRedeemed>
        <percentSDRedeemed>0.00000000</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>50.57253294</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.00000000</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>275.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00670251</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>275.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.01300396</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>275.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00163426</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>275.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00330639</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares 7-10 Year Treasury Bond ETF</fundName>
        <etfSeriesId>S000004358</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="XNAS" fundsTickerSymbol="IEF"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="20761291.40000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="4609788378.20000000" authorizedParticipantRedeemValue="4435010409.50000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="1661227768.10000000" authorizedParticipantRedeemValue="475956978.30000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="10410901.20000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="10050490.10000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="592096699.20000000" authorizedParticipantRedeemValue="797617169.70000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="5770841397.80000000" authorizedParticipantRedeemValue="2300476588.80000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="205124797.40000000" authorizedParticipantRedeemValue="185776486.50000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>100000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>0.18123529</averagePercentagePurchased>
        <standardDeviationPurchased>0.30670264</standardDeviationPurchased>
        <creationUnitPurchasedInKind>99.81876470</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>0.30670264</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>0.24732394</averagePercentageRedeemed>
        <percentSDRedeemed>0.31180307</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>99.75267605</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.31180307</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>0.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00000000</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>0.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00000000</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>0.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>0.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares Core 10+ Year USD Bond ETF</fundName>
        <etfSeriesId>S000026652</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="ARCX" fundsTickerSymbol="ILTB"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="18453529.00000000" authorizedParticipantRedeemValue="23589214.80000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="23981620.15000000" authorizedParticipantRedeemValue="48572727.60000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="23505115.00000000" authorizedParticipantRedeemValue="33417492.60000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>50000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>3.12696382</averagePercentagePurchased>
        <standardDeviationPurchased>2.03209846</standardDeviationPurchased>
        <creationUnitPurchasedInKind>96.87303617</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>2.03209846</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>2.51206915</averagePercentageRedeemed>
        <percentSDRedeemed>1.82357380</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>97.48793084</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>1.82357379</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>300.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00000000</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>300.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00000000</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>341.1666667</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>341.1666667</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares ESG U.S. Aggregate Bond ETF</fundName>
        <etfSeriesId>S000062159</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="ARCX" fundsTickerSymbol="EAGG"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="5017315.80000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="50000000.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>100000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>68.54014425</averagePercentagePurchased>
        <standardDeviationPurchased>44.49095466</standardDeviationPurchased>
        <creationUnitPurchasedInKind>31.45985574</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>44.49095466</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>0.00000000</averagePercentageRedeemed>
        <percentSDRedeemed>0.00000000</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>0.00000000</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.00000000</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>637.50000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.09226444</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>637.50000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.12155961</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>0.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>0.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares ESG 1-5 Year USD Corporate Bond ETF</fundName>
        <etfSeriesId>S000058036</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="XNAS" fundsTickerSymbol="SUSB"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="34263357.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="3689156.25000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="13545250.25000000" authorizedParticipantRedeemValue="6178078.75000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>50000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>6.93939329</averagePercentagePurchased>
        <standardDeviationPurchased>21.94046685</standardDeviationPurchased>
        <creationUnitPurchasedInKind>93.06060670</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>21.94046685</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>5.85370237</averagePercentageRedeemed>
        <percentSDRedeemed>0.00000000</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>94.14629763</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.00000000</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>142.50000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.01250000</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>142.50000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.01250000</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>150.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>150.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares Broad USD Investment Grade Corporate Bond ETF</fundName>
        <etfSeriesId>S000013699</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="XNAS" fundsTickerSymbol="USIG"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="835029155.80000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="47873029.30000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="165201441.80000000" authorizedParticipantRedeemValue="5426240.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="178718108.70000000" authorizedParticipantRedeemValue="21605092.80000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="2673831.65000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>50000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>4.91607796</averagePercentagePurchased>
        <standardDeviationPurchased>12.67612552</standardDeviationPurchased>
        <creationUnitPurchasedInKind>95.08392203</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>12.67612552</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>1.94000000</averagePercentageRedeemed>
        <percentSDRedeemed>1.27279220</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>98.06000000</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>1.27279220</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>491.80327868</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00491803</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>491.66666666</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00500000</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>500.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>500.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares Government/Credit Bond ETF</fundName>
        <etfSeriesId>S000013701</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="ARCX" fundsTickerSymbol="GBF"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="27253150.95000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="5570836.10000000" authorizedParticipantRedeemValue="22010210.80000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>50000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>2.30027216</averagePercentagePurchased>
        <standardDeviationPurchased>0.00000000</standardDeviationPurchased>
        <creationUnitPurchasedInKind>97.69972783</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>0.00000000</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>2.42536232</averagePercentageRedeemed>
        <percentSDRedeemed>1.74881030</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>97.57463767</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>1.74881030</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>500.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00000000</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>500.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00000000</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>734.49</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>734.49</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares Agency Bond ETF</fundName>
        <etfSeriesId>S000023506</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="ARCX" fundsTickerSymbol="AGZ"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="222498875.00000000" authorizedParticipantRedeemValue="5547752.55000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="16716928.85000000" authorizedParticipantRedeemValue="5492757.45000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="38998894.30000000" authorizedParticipantRedeemValue="88528209.05000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>50000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>70.63833633</averagePercentagePurchased>
        <standardDeviationPurchased>46.96494269</standardDeviationPurchased>
        <creationUnitPurchasedInKind>29.36166366</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>46.96494269</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>35.84263911</averagePercentageRedeemed>
        <percentSDRedeemed>49.79774292</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>64.15736088</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>49.79774292</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>73.88235294</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.07058875</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>70.4</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.08000059</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>83.33333333</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>83.33333333</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares Edge Investment Grade Enhanced Bond ETF</fundName>
        <etfSeriesId>S000057342</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="BATS" fundsTickerSymbol="IGEB"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="9587537.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="47575591.15000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="29011981.05000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>50000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>100.00000000</averagePercentagePurchased>
        <standardDeviationPurchased>0.00000000</standardDeviationPurchased>
        <creationUnitPurchasedInKind>0.00000000</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>0.00000000</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>0.00000000</averagePercentageRedeemed>
        <percentSDRedeemed>0.00000000</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>0.00000000</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.00000000</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>0.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.34166653</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>0.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.34166653</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>0.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>0.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares Short-Term National Muni Bond ETF</fundName>
        <etfSeriesId>S000023507</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="ARCX" fundsTickerSymbol="SUB"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="10430031.30000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="5252068.85000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="5215026.90000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="67970717.25000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="41776476.00000000" authorizedParticipantRedeemValue="36569252.30000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="188804638.45000000" authorizedParticipantRedeemValue="10460724.40000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="26178971.35000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="57817906.70000000" authorizedParticipantRedeemValue="5215026.90000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="267510605.25000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>50000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>48.68673729</averagePercentagePurchased>
        <standardDeviationPurchased>46.15313389</standardDeviationPurchased>
        <creationUnitPurchasedInKind>51.31326270</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>46.15313389</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>43.96202197</averagePercentageRedeemed>
        <percentSDRedeemed>50.87765015</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>56.03797803</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>50.87765015</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>56.06060606</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.02181830</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>56.06060606</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.02181830</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>66.66666666</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>66.66666666</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares Long-Term Corporate Bond ETF</fundName>
        <etfSeriesId>S000026651</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="ARCX" fundsTickerSymbol="IGLB"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="35001003.30000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="29783604.00000000" authorizedParticipantRedeemValue="191601563.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="125765347.50000000" authorizedParticipantRedeemValue="46777287.10000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="52782528.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>100000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>3.77202646</averagePercentagePurchased>
        <standardDeviationPurchased>3.62737299</standardDeviationPurchased>
        <creationUnitPurchasedInKind>96.22797353</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>3.62737299</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>2.13490666</averagePercentageRedeemed>
        <percentSDRedeemed>1.16933858</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>97.86509333</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>1.16933858</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>300.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00000000</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>300.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00000000</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>300.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>300.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares iBoxx $ High Yield Corporate Bond ETF</fundName>
        <etfSeriesId>S000016772</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="ARCX" fundsTickerSymbol="HYG"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="16584270215.50000000" authorizedParticipantRedeemValue="16629690024.10000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="59647340.00000000" authorizedParticipantRedeemValue="720548987.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="9796250395.50000000" authorizedParticipantRedeemValue="4291363544.70000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="2438290996.10000000" authorizedParticipantRedeemValue="2569941838.20000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="413726394.50000000" authorizedParticipantRedeemValue="102311499.80000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="8459215203.30000000" authorizedParticipantRedeemValue="13918988901.50000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="8345963.70000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="788480950.90000000" authorizedParticipantRedeemValue="200543557.50000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>100000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>2.45640412</averagePercentagePurchased>
        <standardDeviationPurchased>11.27760510</standardDeviationPurchased>
        <creationUnitPurchasedInKind>97.54359587</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>11.27760510</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>1.43620664</averagePercentageRedeemed>
        <percentSDRedeemed>1.08328641</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>98.56379335</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>1.08328641</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>492.14659685</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00354331</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>493.31550802</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00361930</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>497.78761061</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>497.75784753</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares 20+ Year Treasury Bond ETF</fundName>
        <etfSeriesId>S000004360</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="XNAS" fundsTickerSymbol="TLT"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="24221252.00000000" authorizedParticipantRedeemValue="23769110.40000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="60401553.50000000" authorizedParticipantRedeemValue="85009540.70000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="9530702429.10000000" authorizedParticipantRedeemValue="8327583808.70000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="58898520.00000000" authorizedParticipantRedeemValue="443157847.20000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="268463334.50000000" authorizedParticipantRedeemValue="244172585.20000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="394872455.20000000" authorizedParticipantRedeemValue="625196475.70000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="447568007.60000000" authorizedParticipantRedeemValue="258664687.60000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="24181199.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="11445250597.70000000" authorizedParticipantRedeemValue="7468341132.70000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="11856136.20000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="597687697.50000000" authorizedParticipantRedeemValue="600893141.50000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="1419777022.00000000" authorizedParticipantRedeemValue="1886986425.50000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="60366763.00000000" authorizedParticipantRedeemValue="82818739.20000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>100000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>0.47807174</averagePercentagePurchased>
        <standardDeviationPurchased>0.31875794</standardDeviationPurchased>
        <creationUnitPurchasedInKind>99.52192825</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>0.31875794</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>0.52709677</averagePercentageRedeemed>
        <percentSDRedeemed>0.37780966</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>99.47290322</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.37780966</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>0.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00000000</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>0.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00000000</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>0.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>0.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares New York Muni Bond ETF</fundName>
        <etfSeriesId>S000019342</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="ARCX" fundsTickerSymbol="NYF"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="5424348.75000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="13615416.90000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="5403502.95000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="21810947.60000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>50000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>100.00000000</averagePercentagePurchased>
        <standardDeviationPurchased>0.00000000</standardDeviationPurchased>
        <creationUnitPurchasedInKind>0.00000000</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>0.00000000</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>0.00000000</averagePercentageRedeemed>
        <percentSDRedeemed>0.00000000</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>0.00000000</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.00000000</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>0.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.15000065</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>0.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.15000065</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>0.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>0.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares Short Treasury Bond ETF</fundName>
        <etfSeriesId>S000013694</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="XNAS" fundsTickerSymbol="SHV"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="4368120057.20000000" authorizedParticipantRedeemValue="1876692090.20000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="1047739427.20000000" authorizedParticipantRedeemValue="463630975.70000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="3088617002.50000000" authorizedParticipantRedeemValue="77264196.50000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="7379437761.80000000" authorizedParticipantRedeemValue="3686019193.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="77289556.40000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="44115061.20000000" authorizedParticipantRedeemValue="319868813.90000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>100000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>2.82729452</averagePercentagePurchased>
        <standardDeviationPurchased>3.78451863</standardDeviationPurchased>
        <creationUnitPurchasedInKind>97.17270547</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>3.78451863</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>2.66358024</averagePercentageRedeemed>
        <percentSDRedeemed>2.73141049</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>97.33641975</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>2.73141049</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>250.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00000000</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>250.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00000000</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>250.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>250.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares Intermediate-Term Corporate Bond ETF</fundName>
        <etfSeriesId>S000013698</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="XNAS" fundsTickerSymbol="IGIB"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="26207619.05000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="351391000.60000000" authorizedParticipantRedeemValue="1582698394.75000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="317049470.55000000" authorizedParticipantRedeemValue="566773821.30000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="10580954.10000000" authorizedParticipantRedeemValue="15993027.60000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="110975904.80000000" authorizedParticipantRedeemValue="302825322.10000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>50000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>28.17047982</averagePercentagePurchased>
        <standardDeviationPurchased>41.05466024</standardDeviationPurchased>
        <creationUnitPurchasedInKind>71.82952017</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>41.05466024</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>2.02006461</averagePercentageRedeemed>
        <percentSDRedeemed>1.86579911</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>97.97993538</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>1.86579911</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>380.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.04905773</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>380.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.05407797</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>500.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>500.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares California Muni Bond ETF</fundName>
        <etfSeriesId>S000019341</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="ARCX" fundsTickerSymbol="CMF"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="77739604.90000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="32086792.95000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="145835753.55000000" authorizedParticipantRedeemValue="20055473.90000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="96298990.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="5814548.35000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="17465592.70000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>50000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>100.00000000</averagePercentagePurchased>
        <standardDeviationPurchased>0.00000000</standardDeviationPurchased>
        <creationUnitPurchasedInKind>0.00000000</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>0.00000000</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>0.67383030</averagePercentageRedeemed>
        <percentSDRedeemed>0.38075003</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>99.32616969</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.38075003</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>0.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.14857211</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>0.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.14857211</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>250.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>250.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares National Muni Bond ETF</fundName>
        <etfSeriesId>S000018861</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="ARCX" fundsTickerSymbol="MUB"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="10776051.40000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="2499884575.60000000" authorizedParticipantRedeemValue="986121255.70000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="681782354.90000000" authorizedParticipantRedeemValue="381746732.90000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="616822839.00000000" authorizedParticipantRedeemValue="206743583.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="10892202.00000000" authorizedParticipantRedeemValue="43469136.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="10801492.80000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>100000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>10.69682040</averagePercentagePurchased>
        <standardDeviationPurchased>19.06717088</standardDeviationPurchased>
        <creationUnitPurchasedInKind>89.30317959</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>19.06717088</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>9.00684237</averagePercentageRedeemed>
        <percentSDRedeemed>13.41709904</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>90.99315762</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>13.41709904</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>386.20689655</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00284483</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>386.20689655</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00284483</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>400.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>400.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares Short-Term Corporate Bond ETF</fundName>
        <etfSeriesId>S000013697</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="XNAS" fundsTickerSymbol="IGSB"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="140341585.20000000" authorizedParticipantRedeemValue="10298967.20000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="95921116.95000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="88287050.30000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="135121392.80000000" authorizedParticipantRedeemValue="77815763.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="160306642.45000000" authorizedParticipantRedeemValue="98430434.05000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="266736225.15000000" authorizedParticipantRedeemValue="1109550069.50000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="372991743.15000000" authorizedParticipantRedeemValue="482089228.80000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>50000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>5.82186445</averagePercentagePurchased>
        <standardDeviationPurchased>13.88116456</standardDeviationPurchased>
        <creationUnitPurchasedInKind>94.17813554</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>13.88116456</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>2.13291623</averagePercentageRedeemed>
        <percentSDRedeemed>2.38275405</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>97.86708376</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>2.38275405</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>491.07142857</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00048326</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>490.74074074</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00277596</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>500.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>500.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares 1-3 Year Treasury Bond ETF</fundName>
        <etfSeriesId>S000004357</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="XNAS" fundsTickerSymbol="SHY"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="6774756533.80000000" authorizedParticipantRedeemValue="2511501887.30000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="1506008421.20000000" authorizedParticipantRedeemValue="442907466.20000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="1048967988.90000000" authorizedParticipantRedeemValue="409139927.60000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="3595605674.40000000" authorizedParticipantRedeemValue="2009414691.80000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="41767839.50000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>100000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>1.63488095</averagePercentagePurchased>
        <standardDeviationPurchased>1.27610290</standardDeviationPurchased>
        <creationUnitPurchasedInKind>98.36511904</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>1.27610290</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>1.31951807</averagePercentageRedeemed>
        <percentSDRedeemed>1.41754589</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>98.68048192</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>1.41754589</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>0.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00000000</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>0.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00000000</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>0.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>0.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>iShares 3-7 Year Treasury Bond ETF</fundName>
        <etfSeriesId>S000013695</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="XNAS" fundsTickerSymbol="IEI"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="J.P. MORGAN SECURITIES LLC" authorizedParticipantFileNo="8-35008" authorizedParticipantCrdNo="000000079" authorizedParticipantLei="ZBUT11V806EZRVTWT807" authorizedParticipantPurchaseValue="1582322996.70000000" authorizedParticipantRedeemValue="649288651.60000000"/>
          <authorizedParticipant authorizedParticipantName="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED" authorizedParticipantFileNo="8-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="24272014.80000000" authorizedParticipantRedeemValue="11973529.50000000"/>
          <authorizedParticipant authorizedParticipantName="Industrial and Commercial Bank of China Financial Services LLC" authorizedParticipantFileNo="8-66471" authorizedParticipantCrdNo="000131487" authorizedParticipantLei="5493003O0P1GJ0O8CI80" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Timber Hill LLC" authorizedParticipantFileNo="8-28569" authorizedParticipantCrdNo="000033319" authorizedParticipantLei="549300ENR8YMEK2RVE28" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Scotia Capital (USA) Inc." authorizedParticipantFileNo="8-3716" authorizedParticipantCrdNo="000002739" authorizedParticipantLei="549300BLWPABP1VNME36" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natixis Securities Americas LLC" authorizedParticipantFileNo="8-719" authorizedParticipantCrdNo="000001101" authorizedParticipantLei="549300L8G1E7ZHVEOG75" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Pershing LLC" authorizedParticipantFileNo="8-17574" authorizedParticipantCrdNo="000007560" authorizedParticipantLei="ZI8Q1A8EI8LQFJNM0D94" authorizedParticipantPurchaseValue="48054181.60000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Securities (USA) LLC" authorizedParticipantFileNo="8-68398" authorizedParticipantCrdNo="000151796" authorizedParticipantLei="549300FIFV1CB6HD9A14" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cowen Execution Services LLC" authorizedParticipantFileNo="8-46838" authorizedParticipantCrdNo="000035693" authorizedParticipantLei="5493005RJDJD18OPUP27" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ITG Inc." authorizedParticipantFileNo="8-44218" authorizedParticipantCrdNo="000029299" authorizedParticipantLei="549300S41SMIODVIT266" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Financial BD LLC" authorizedParticipantFileNo="8-68015" authorizedParticipantCrdNo="000148390" authorizedParticipantLei="54930088MP91YZQJT494" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BMO Capital Markets Corp." authorizedParticipantFileNo="008-34344" authorizedParticipantCrdNo="000016686" authorizedParticipantLei="RUC0QBLBRPRCU4W1NE59" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ING Financial Markets LLC" authorizedParticipantFileNo="8-43978" authorizedParticipantCrdNo="000028872" authorizedParticipantLei="KBVRJ5K57JZ3E2AVWX40" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="STIFEL NICOLAUS &amp; CO INC." authorizedParticipantFileNo="8-1447" authorizedParticipantCrdNo="000000793" authorizedParticipantLei="5WUVMA08EYG4KEUPW589" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="1057598157.80000000" authorizedParticipantRedeemValue="1845673388.50000000"/>
          <authorizedParticipant authorizedParticipantName="Wedbush Securities Inc." authorizedParticipantFileNo="8-12987" authorizedParticipantCrdNo="000000877" authorizedParticipantLei="549300CSX55MXZ47EI78" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Nomura Securities International, Inc." authorizedParticipantFileNo="8-15255" authorizedParticipantCrdNo="000004297" authorizedParticipantLei="OXTKY6Q8X53C9ILVV871" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Markets, LLC" authorizedParticipantFileNo="8-69862" authorizedParticipantCrdNo="000285852" authorizedParticipantLei="549300FDEDF5ORXCMQ56" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HRT Financial LLC" authorizedParticipantFileNo="8-68430" authorizedParticipantCrdNo="000152144" authorizedParticipantLei="21380037YFKONTT23854" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Daiwa Capital Markets America Inc." authorizedParticipantFileNo="8-12242" authorizedParticipantCrdNo="000001576" authorizedParticipantLei="M67H5PRC0NQKM73ZAS82" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="HSBC Securities (USA) Inc." authorizedParticipantFileNo="8-41562" authorizedParticipantCrdNo="000019585" authorizedParticipantLei="CYYGQCGNHMHPSMRL3R97" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Prime Brokerage, Inc." authorizedParticipantFileNo="8-40490" authorizedParticipantCrdNo="000024962" authorizedParticipantLei="7VHWWWW4UJS7NUM3PT30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="MUFG Securities Americas Inc." authorizedParticipantFileNo="8-43026" authorizedParticipantCrdNo="000019685" authorizedParticipantLei="K5HU16E3LMSVCCJJJ255" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Itau BBA USA Securities, Inc." authorizedParticipantFileNo="8-53702" authorizedParticipantCrdNo="000118817" authorizedParticipantLei="5493008E85XK12EKYI22" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Cantor Fitzgerald &amp; Co." authorizedParticipantFileNo="8-201" authorizedParticipantCrdNo="000000134" authorizedParticipantLei="5493004J7H4GCPG6OB62" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="CIBC World Markets Corp." authorizedParticipantFileNo="8-18333" authorizedParticipantCrdNo="000000630" authorizedParticipantLei="549300445CON3DBMU275" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="47791035.90000000" authorizedParticipantRedeemValue="290297729.90000000"/>
          <authorizedParticipant authorizedParticipantName="State Street Global Advisors Funds Distributors, LLC" authorizedParticipantFileNo="8-44744" authorizedParticipantCrdNo="000030107" authorizedParticipantLei="54ZMQ1M7YQYKOZC8E043" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Deutsche Bank Securities Inc." authorizedParticipantFileNo="8-17822" authorizedParticipantCrdNo="000002525" authorizedParticipantLei="9J6MBOOO7BECTDTUZW19" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="11838050.40000000"/>
          <authorizedParticipant authorizedParticipantName="NATIONAL BANK OF CANADA FINANCIAL INC." authorizedParticipantFileNo="8-39947" authorizedParticipantCrdNo="000022698" authorizedParticipantLei="549300R6OJCZ1R8P6U58" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Natwest Markets Securities Inc." authorizedParticipantFileNo="8-37135" authorizedParticipantCrdNo="000011707" authorizedParticipantLei="ZE2ZWJ5BTIQJ8M0C6K34" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-8177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Clearing Chicago LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp." authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Banca IMI Securities Corp." authorizedParticipantFileNo="8-37444" authorizedParticipantCrdNo="000019418" authorizedParticipantLei="V48XYRSNOB3HY0J4NK61" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>100000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>0.43537037</averagePercentagePurchased>
        <standardDeviationPurchased>0.23714268</standardDeviationPurchased>
        <creationUnitPurchasedInKind>99.56462962</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>0.23714268</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>0.44250000</averagePercentageRedeemed>
        <percentSDRedeemed>0.35636488</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>99.55750000</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.35636488</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0.00000000</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>500.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00000000</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0.00000000</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>500.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00000000</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>500.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0.00000000</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>500.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
      </exchangeTradedFund>
    </exchangeSeriesInfo>
    <attachmentsTab>
      <isLegalProceedings>true</isLegalProceedings>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
    </attachmentsTab>
    <signature registrantSignedName="iShares Trust" signedDate="2019-05-01" signature="Ann Frechette" title="Assistant Treasurer"/>
  </formData>
</edgarSubmission>
