UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS

OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-22649

iShares U.S. ETF Trust

(Exact name of registrant as specified in charter)

c/o: State Street Bank and Trust Company

100 Summer Street, 4^th Floor, Boston, MA 02110

(Address of principal executive offices) (Zip code)

The Corporation Trust Company

1209 Orange Street, Wilmington, DE 19801

(Name and address of agent for service)

Registrant’s telephone number, including area code: (415) 670-2000

Date of fiscal year end: October 31, 2019

Date of reporting period: January 31, 2019

Item 1. Schedules of Investments.

Consolidated Schedule of Investments (unaudited)	iShares® Bloomberg Roll Select Commodity Strategy ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Par		Value
Short-Term Investments
Commercial Paper — 50.6%
CenterPoint Energy Inc., 2.83%, 03/04/19(a)	$	1,000,000	$	997,494
Ecolab Inc., 2.74%, 02/05/19(a)		1,000,000		999,620
Electricite de France SA, 3.04%, 02/26/19(a)		1,500,000		1,496,924
Glencove Funding LLC, 2.69%, 04/09/19(a)		500,000		497,470
Hitachi Capital America Corp. 2.84%, 02/25/2019(a)		500,000		499,015
2.84%, 02/26/2019(a)		1,140,000		1,137,663
Hyundai Capital America, 2.83%, 02/19/19(a)		1,500,000		1,497,767
La Fayette Asset Securitization LLC, 2.54%, 03/13/19(a)		1,500,000		1,495,649
Mondelez International Inc., 2.94%, 03/25/19(a)		1,500,000		1,493,545
National Securities Clearing Corp., 2.48%, 02/28/19(a)		1,700,000		1,696,727
Nederlandse Waterschapsbank NV, 2.52%, 02/21/19(a)		1,000,000		998,532
Parker-Hannifin Corp., 2.48%, 02/20/19(a)		750,000		748,970
Ryder System Inc., 2.74%, 02/05/19(a)		925,000		924,649
Suncor Energy Inc., 2.86%, 02/12/19(a)		1,500,000		1,498,607
Toyota Industries Corp., 2.33%, 02/04/19(a)		1,000,000		999,741
VW Credit Inc., 2.75%, 02/07/19(a)		1,000,000		999,465
Walgreens Boots Alliance Inc., 2.84%, 02/25/19(a)		1,700,000		1,696,651
				19,678,489
U.S. Treasury Obligations — 32.8%
U.S. Treasury Bill 2.28%, 02/05/19(a)		1,000,000		999,750
2.34%, 02/14/19(a)		2,100,000		2,098,248

Security	Par/ Shares		Value
U.S. Treasury Obligations (continued)
2.35%, 02/12/19(a)	$	2,100,000	$	2,098,516
2.38%, 03/19/19(a)		500,000		498,503
2.39%, 02/19/19(a)		250,000		249,706
2.39%, 03/07/19(a)		650,000		648,557
2.39%, 03/12/19(a)		3,700,000		3,690,581
2.39%, 03/26/19(a)		2,500,000		2,491,342
				12,775,203
Money Market Funds — 12.4%
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.31%(b)(c)		4,822,379		4,822,379
Total Short-Term Investments — 95.8% (Costs: $37,275,655)				37,276,071
Total Investments in Securities — 95.8% (Cost: $37,275,655)				37,276,071
Other Assets, Less Liabilities — 4.2%				1,618,529
Net Assets — 100.0%			$	38,894,600

^(a)  Rates are discount rates or a range of discount rates at the time of purchase.

^(b)  Affiliate of the Fund.

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

Affiliates

Investments in issuers considered to be affiliates of the Fund during the three months ended January 31, 2019, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Shares Held at 10/31/18		Net Activity			Shares Held at 01/31/19		Value at 01/31/19		Income		Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)
BlackRock Cash Funds: Treasury, SL Agency Shares		7,904,926		(3,082,547	)		4,822,379	$	4,822,379	$	31,714	$	—	$	—

Futures Contracts

Description	Number of Contracts		Expiration Date		Notional Amount (000)		Value/ Unrealized Appreciation (Depreciation)
Long Contracts
Bloomberg Roll Select Commodity Index		1,867		03/20/19	$	38,163	$	(867,456	)

Fair Value Measurements

Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.

1

Consolidated Schedule of Investments (unaudited) (continued)	iShares® Bloomberg Roll Select Commodity Strategy ETF
January 31, 2019

Fair Value Measurements (continued)

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of January 31, 2019. The breakdown of the Fund’s investments into major categories is disclosed in the Consolidated Schedule of Investments above.

	Level 1			Level 2		Level 3		Total
Investments
Assets
Commercial Paper	$	—		$	19,678,489	$	—	$	19,678,489
U.S. Treasury Obligations		—			12,775,203		—		12,775,203
Money Market Funds		4,822,379			—		—		4,822,379
	$	4,822,379		$	32,453,692	$	—	$	37,276,071
Derivative financial instruments(a)
Liabilities
Futures Contracts	$	(867,456	)	$	—	$	—	$	(867,456	)

^(a)  Shown at the unrealized appreciation (depreciation) on the contracts.

2

Consolidated Schedule of Investments (unaudited)	iShares® Commodities Select Strategy ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Agricultural & Farm Machinery — 1.9%
AGCO Corp.		6,580	$	422,436
CNH Industrial NV		99,424		985,292
Deere & Co.		32,188		5,278,832
Lindsay Corp.		1,062		91,204
Toro Co. (The)		10,526		626,297
				7,404,061
Agricultural Products — 1.2%
Archer-Daniels-Midland Co.		56,100		2,518,890
Bunge Ltd.		14,117		777,423
Darling Ingredients Inc.(a)		16,476		350,445
Fresh Del Monte Produce Inc.		2,988		95,556
Ingredion Inc.		7,075		700,425
				4,442,739
Aluminum — 0.1%
Alcoa Corp.(a)		9,909		294,036
Constellium NV, Class A(a)		6,166		50,808
Kaiser Aluminum Corp.		882		88,526
				433,370
Coal & Consumable Fuels — 0.1%
Arch Coal Inc., Class A		464		40,892
Cameco Corp.		9,516		115,334
CONSOL Energy Inc.(a)		659		23,414
Peabody Energy Corp.		1,842		65,760
				245,400
Copper — 0.3%
Freeport-McMoRan Inc.		77,388		900,796
Southern Copper Corp.		4,541		152,669
				1,053,465
Diversified Metals & Mining — 2.8%
BHP Group Ltd., ADR		78,597		4,023,381
BHP Group PLC, ADR, NVS		56,399		2,536,827
Compass Minerals International Inc.		1,784		93,214
Materion Corp.		1,066		50,027
Rio Tinto PLC, ADR, NVS		60,049		3,378,957
Teck Resources Ltd., Class B		26,957		656,673
				10,739,079
Fertilizers & Agricultural Chemicals — 1.9%
CF Industries Holdings Inc.		23,094		1,008,053
FMC Corp.		13,474		1,075,225
Mosaic Co. (The)		35,486		1,145,488
Nutrien Ltd.		61,256		3,174,286
Scotts Miracle-Gro Co. (The)		3,910		290,709
Sociedad Quimica y Minera de Chile SA, ADR(b)		9,275		395,671
				7,089,432
Gold — 1.2%
Agnico Eagle Mines Ltd.(b)		12,527		545,927
Barrick Gold Corp.		93,199		1,247,935
Cia. de Minas Buenaventura SAA, ADR, NVS		11,538		180,570
Franco-Nevada Corp.		9,953		772,751
Goldcorp Inc.		46,439		519,652
Kinross Gold Corp.(a)(b)		66,426		223,191
Newmont Mining Corp.		28,448		970,361
Royal Gold Inc.		3,496		305,445
				4,765,832
Integrated Oil & Gas — 8.3%
BP PLC, ADR, NVS		79,989		3,289,148

Security	Shares		Value
Integrated Oil & Gas (continued)
Cenovus Energy Inc.(b)		24,395	$	190,037
Chevron Corp.		45,942		5,267,250
China Petroleum & Chemical Corp., ADR, NVS		6,134		511,882
Ecopetrol SA, ADR, NVS(b)		5,932		111,818
Eni SpA, ADR, NVS(b)		30,583		1,036,152
Equinor ASA, ADR, NVS(b)		26,229		597,497
Exxon Mobil Corp.		101,797		7,459,684
Imperial Oil Ltd.(b)		5,689		162,080
Occidental Petroleum Corp.		18,154		1,212,324
PetroChina Co. Ltd., ADR, NVS		5,073		326,042
Petroleo Brasileiro SA, ADR, NVS(b)		35,789		583,361
Royal Dutch Shell PLC, Class A, ADR, NVS		54,159		3,343,235
Royal Dutch Shell PLC, Class B, ADR, NVS		45,028		2,827,758
Suncor Energy Inc.		38,892		1,256,990
Total SA, ADR, NVS		60,725		3,323,479
				31,498,737
Oil & Gas Drilling — 0.1%
Ensco PLC, Class A		10,363		45,597
Helmerich & Payne Inc.		2,608		146,022
Nabors Industries Ltd.		7,723		22,860
Patterson-UTI Energy Inc.		5,220		63,319
Rowan Companies PLC, Class A(a)		3,007		36,655
Transocean Ltd.(a)		11,993		102,780
Unit Corp.(a)		1,281		20,445
				437,678
Oil & Gas Equipment & Services — 0.9%
Apergy Corp.(a)		1,828		61,457
Archrock Inc.		3,069		28,971
Baker Hughes a GE Co.		12,344		290,948
C&J Energy Services Inc.(a)		1,505		24,185
Cactus Inc., Class A(a)		887		29,111
Core Laboratories NV		1,047		70,631
Dril-Quip Inc.(a)		884		33,097
Halliburton Co.		21,063		660,536
Helix Energy Solutions Group Inc.(a)(b)		3,301		22,546
McDermott International Inc.(a)		4,285		37,794
National Oilwell Varco Inc.		9,218		271,747
Oceaneering International Inc.(a)		2,334		36,620
Oil States International Inc.(a)		1,423		24,504
ProPetro Holding Corp.(a)		1,740		28,432
Schlumberger Ltd.		33,296		1,472,016
TechnipFMC PLC		10,230		234,881
Tenaris SA, ADR, NVS		5,677		141,755
U.S. Silica Holdings Inc.		1,832		24,695
				3,493,926
Oil & Gas Exploration & Production — 2.7%
Anadarko Petroleum Corp.		12,142		574,681
Antero Resources Corp.(a)		5,258		52,895
Apache Corp.		9,126		299,515
Cabot Oil & Gas Corp.		10,457		260,902
California Resources Corp.(a)		1,143		23,031
Callon Petroleum Co.(a)		5,393		43,899
Canadian Natural Resources Ltd.		28,999		778,913
Carrizo Oil & Gas Inc.(a)		2,022		24,830
Centennial Resource Development Inc./DE, Class A(a)(b)		4,506		59,344
Chesapeake Energy Corp.(a)(b)		25,097		71,526
Cimarex Energy Co.		2,287		172,303
CNOOC Ltd., ADR, NVS		3,865		646,576
CNX Resources Corp.(a)		5,050		61,307

3

Consolidated Schedule of Investments (unaudited) (continued) January 31, 2019 iShares^® Commodities Select Strategy ETF (Percentages shown are based on Net Assets)

Security		Value
Oil & Gas Exploration & Production (continued)
Concho Resources Inc.(a)	4,815	$	577,030
ConocoPhillips	27,680		1,873,659
Continental Resources Inc./OK(a)	2,056		94,926
Crescent Point Energy Corp.	13,030		38,960
Denbury Resources Inc.(a)	10,917		22,161
Devon Energy Corp.	11,257		299,999
Diamondback Energy Inc.	3,709		382,472
Encana Corp.(b)	22,899		157,545
EOG Resources Inc.	13,943		1,383,146
EQT Corp.	6,261		121,902
Gulfport Energy Corp.(a)	3,736		31,345
Hess Corp.	5,964		322,056
Kosmos Energy Ltd.(a)	6,068		31,129
Magnolia Oil & Gas Corp.(a)(b)	2,043		24,598
Marathon Oil Corp.	20,250		319,747
Matador Resources Co.(a)	2,453		47,833
Murphy Oil Corp.	4,282		117,113
Newfield Exploration Co.(a)	4,741		86,665
Noble Energy Inc.	11,536		257,714
Oasis Petroleum Inc.(a)	6,330		38,107
Parsley Energy Inc., Class A(a)	6,334		117,686
PDC Energy Inc.(a)	1,570		51,135
Pioneer Natural Resources Co.	4,099		583,370
QEP Resources Inc.(a)	5,614		46,428
Range Resources Corp.	4,905		54,102
SM Energy Co.	2,443		47,932
Southwestern Energy Co.(a)	15,435		67,451
SRC Energy Inc.(a)	5,747		28,275
Whiting Petroleum Corp.(a)	2,161		61,869
WPX Energy Inc.(a)	9,499		116,458
			10,472,535
Oil & Gas Refining & Marketing — 0.9%
Cosan Ltd., Class A	3,515		38,770
CVR Energy Inc.	689		27,663
Delek U.S. Holdings Inc.	1,830		59,493
HollyFrontier Corp.	3,838		216,233
Marathon Petroleum Corp.	16,611		1,100,645
PBF Energy Inc., Class A	2,843		104,111
Phillips 66	10,200		973,182
Renewable Energy Group Inc.(a)	883		25,519
Valero Energy Corp.	10,202		895,940
World Fuel Services Corp.	1,607		39,998
			3,481,554
Oil & Gas Storage & Transportation — 1.7%
Cheniere Energy Inc.(a)	5,312		348,733
Enbridge Inc.	48,588		1,779,292
Equitrans Midstream Corp.(a)	4,829		100,540
Golar LNG Ltd.	2,401		53,470
Kinder Morgan Inc./DE	45,636		826,012
ONEOK Inc.	9,891		635,101
Pembina Pipeline Corp.	12,169		433,460
SemGroup Corp., Class A	1,558		24,959
Ship Finance International Ltd.	2,485		30,218
Targa Resources Corp.	5,478		235,609
TransCanada Corp.	21,965		933,952
Ultrapar Participacoes SA, ADR, NVS	10,435		164,664
Williams Companies Inc. (The)	29,106		783,824
			6,349,834

Security	Shares		Value
Silver — 0.2%
Coeur Mining Inc.(a)		10,800	$	55,620
Hecla Mining Co.		25,124		67,835
Wheaton Precious Metals Corp.		23,710		499,807
				623,262
Specialty Chemicals — 5.0%
A Schulman Inc.(a)(c)		1,888		3,606
Albemarle Corp.		10,627		857,918
Ashland Global Holdings Inc.		6,253		474,603
Axalta Coating Systems Ltd.(a)		21,259		544,656
Balchem Corp.		3,227		267,906
Celanese Corp.		13,384		1,281,652
Ecolab Inc.		25,437		4,023,370
Ferro Corp.(a)(b)		8,317		138,644
GCP Applied Technologies Inc.(a)		7,221		181,969
HB Fuller Co.		5,073		250,555
Ingevity Corp.(a)		4,200		395,094
Innospec Inc.		2,444		171,740
International Flavors & Fragrances Inc.		10,135		1,436,940
Minerals Technologies Inc.		3,528		206,635
NewMarket Corp.		890		356,970
Platform Specialty Products Co.(a)		23,370		262,679
PolyOne Corp.		7,987		258,539
PPG Industries Inc.		24,004		2,530,982
Quaker Chemical Corp.		1,328		271,523
RPM International Inc.		13,280		759,085
Sensient Technologies Corp.		4,230		265,559
Sherwin-Williams Co. (The)		8,244		3,475,011
Stepan Co.		2,028		178,322
WR Grace & Co.		6,703		475,980
				19,069,938
Steel — 1.8%
Allegheny Technologies Inc.(a)		6,712		183,842
ArcelorMittal, NVS(b)		34,176		803,136
Carpenter Technology Corp.		2,530		119,568
Cleveland-Cliffs Inc.		15,916		170,460
Commercial Metals Co.		6,282		109,621
Nucor Corp.		16,766		1,026,750
POSCO, ADR, NVS(b)		17,135		1,031,870
Reliance Steel & Aluminum Co.		3,804		311,471
Steel Dynamics Inc.		12,344		451,667
Ternium SA		2,792		84,933
U.S. Steel Corp.		9,419		212,304
Vale SA, ADR, NVS		166,514		2,071,434
Warrior Met Coal Inc.		2,305		66,223
Worthington Industries Inc.		2,132		80,440
				6,723,719
Total Common Stocks — 31.1% (Cost: $132,370,235)				118,324,561
Preferred Stocks
Integrated Oil & Gas — 0.2%
Petroleo Brasileiro SA, Preference Shares, ADR, NVS(b)		52,531		742,789
Steel — 0.0%
Gerdau SA, ADR, Preference Shares, NVS		55,410		239,925
Total Preferred Stocks — 0.2% (Cost: $736,654)				982,714

4

Consolidated Schedule of Investments (unaudited) (continued) January 31, 2019 iShares^® Commodities Select Strategy ETF (Percentages shown are based on Net Assets)

Security	Par		Value
Short-Term Investments
Certificates of Deposit — 10.0%
Citibank N.A./New York, 2.51%, 03/14/19	$	10,500,000	$	10,499,611
Lloyds Bank Crop./NY, 2.47%, 03/08/19		5,000,000		4,999,899
MUFG Bank Ltd., 2.90%, 08/15/19		4,950,000		4,952,905
ROYAL BK of CANADA, 3.07%, 11/27/19		2,700,000		2,706,664
Sumitomo Mitsui Banking Corp./New York, 2.93%, 04/18/19, (3 mo. LIBOR US + 0.150%)(d)		15,000,000		15,001,395
				38,160,474
Commercial Paper — 38.1%
Bedford Row Funding Corp., 2.79%, 05/02/19(e)		3,500,000		3,475,682
Bell Canada Inc., 3.07%, 03/11/19(e)		5,000,000		4,985,007
BPCE, 2.64%, 02/08/19(e)		7,200,000		7,196,176
CenterPoint Energy Inc., 2.83%, 03/04/19(e)		7,250,000		7,231,833
Chariot Funding LLC, 2.77%, 04/02/19(e)		5,000,000		4,977,837
CIESCO LLC, 2.92%, 05/29/19(e)		3,500,000		3,468,130
Gotham Funding Corp., 2.81%, 03/04/19(e)		5,000,000		4,988,813
Hitachi Capital America Corp. 2.84%, 02/25/2019(e)		6,000,000		5,988,179
2.84%, 02/26/2019(e)		3,700,000		3,692,414
Hyundai Capital America, 2.83%, 02/19/19(e)		8,000,000		7,988,089
JPMorgan Securities LLC, 2.53%, 02/22/19(e)		7,000,000		6,989,306
Keurig Dr Pepper Inc., 2.91%, 02/11/19(e)		8,000,000		7,993,204
Lam Research Corp., 2.76%, 03/05/19(e)		8,500,000		8,477,599
Mondelez International Inc. 2.94%, 03/25/2019(e)		800,000		796,557
3.07%, 03/05/2019(e)		10,000,000		9,973,820
Nederlandse Waterschapsbank NV, 2.52%, 02/21/19(e)		2,000,000		1,997,065
NextEra Energy Capital Holdings Inc., 2.96%, 02/07/19(e)		2,179,000		2,177,835
Old Line Funding LLC, 2.75%, 06/05/19(e)		4,000,000		3,961,736
Oversea-Chinese Banking Corp. Ltd., 2.47%, 02/26/19(e)		10,000,000		9,981,995
Ryder System Inc., 2.74%, 02/05/19(e)		1,500,000		1,499,430
Societe Generale SA, 2.88%, 09/03/19(e)		5,000,000		4,914,590
Suncor Energy Inc., 3.15%, 03/18/19(e)		1,500,000		1,494,470
Toronto-Dominion Bank (The), 2.87%, 06/13/19, (3 mo. LIBOR US + 0.160%)(d)(f)		5,000,000		5,003,782
TransCanada PipeLines Ltd., 3.07%, 04/12/19(e)		8,000,000		7,953,061
VW Credit Inc. 2.75%, 02/07/2019(e)		5,000,000		4,997,326
2.86%, 03/11/2019(e)		4,000,000		3,987,572

Security	Par/ Shares		Value
Commercial Paper (continued)
Walgreens Boots Alliance Inc., 2.84%, 02/22/19(e)	$	4,000,000	$	3,993,085
WESTPAC BANKING CORP., 3.10%, 11/01/19(e)		5,000,000		4,894,929
				145,079,522
U.S. Treasury Obligations — 5.3%
U.S. Treasury Bill 2.38%, 03/19/19(e)		3,000,000		2,991,020
2.39%, 02/19/19(e)		14,050,000		14,033,491
2.39%, 03/07/19(e)		3,000,000		2,993,342
				20,017,853
Money Market Funds — 12.8%
BlackRock Cash Funds: Institutional, SL Agency Shares, 2.62%(g)(h)(i)		3,608,476		3,609,558
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.31%(g)(h)		44,956,928		44,956,928
				48,566,486
Total Short-Term Investments — 66.2% (Costs: $251,806,127)				251,824,335
Total Investments in Securities — 97.5% (Cost: $384,913,016)				371,131,610
Other Assets, Less Liabilities — 2.5%				9,446,058
Net Assets — 100.0%			$	380,577,668

^(a)  Non-income producing security.

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

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

^(d)  Variable or floating rate security. Rate shown is the rate in effect as of period-end.

^(e)  Rates are discount rates or a range of discount rates at the time of purchase.

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

^(g)  Affiliate of the Fund.

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

⁽ⁱ⁾  All or a portion of this security was purchased with cash collateral received from loaned securities.

Affiliates

Investments in issuers considered to be affiliates of the Fund during the three months ended January 31, 2019, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Shares Held at 10/31/18		Net Activity			Shares Held at 01/31/19		Value at 01/31/19		Income			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares		13,372,232		(9,763,756	)		3,608,476	$	3,609,558	$	14,368	(a)	$	(826	)	$	480
BlackRock Cash Funds: Treasury, SL Agency Shares		195,565,236		(150,608,308	)		44,956,928		44,956,928		727,594			—			—
								$	48,566,486	$	741,962		$	(826	)	$	480

^(a)  Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.

5

Consolidated Schedule of Investments (unaudited) (continued)	iShares® Commodities Select Strategy ETF
January 31, 2019

Futures Contracts

Description	Number of Contracts		Expiration Date		Notional Amount (000)		Value/ Unrealized Appreciation (Depreciation)
Long Contracts
Aluminum		297		04/17/19	$	14,152	$	(215,794	)
Brent Crude Oil		550		10/31/19		33,374		(116,383	)
Cattle Feeder		70		03/28/19		4,989		(72,045	)
Cocoa		58		05/15/19		1,281		(44,690	)
Coffee		66		05/20/19		2,698		(206,940	)
Copper		109		05/15/19		16,827		665,275
Corn		970		09/13/19		19,182		(187,036	)
Cotton		144		03/07/19		5,357		(295,964	)
Gasoline RBOB		113		11/29/19		6,840		(222,699	)
Gold		119		12/27/19		16,065		1,279,410
KC HRW Wheat		193		07/12/19		5,008		(638,115	)
Lead		54		03/20/19		2,850		177,142
Lean Hogs		288		04/12/19		6,938		(801,303	)
Live Cattle		313		06/28/19		14,517		366,752
Low Sulphur Gasoil		184		12/10/20		10,755		(1,790,790	)
Natural Gas		221		03/27/20		5,700		(66,763	)
Nickel		40		03/20/19		2,987		243,474
NY Harbor ULSD		106		03/29/19		8,325		(1,407,851	)
Silver		21		03/27/19		1,688		196,855
Soybean		265		11/14/19		12,660		391,586
Sugar		435		06/28/19		6,338		314,716
Wheat		474		07/12/19		12,490		(1,428,004	)
WTI Crude Oil		852		11/19/21		45,301		(5,411,178	)
Zinc		68		05/15/19		4,617		405,376
							$	(8,864,969	)

Fair Value Measurements

Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of January 31, 2019. The breakdown of the Fund’s investments into major categories is disclosed in the Consolidated Schedule of Investments above.

	Level 1			Level 2		Level 3		Total
Investments
Assets
Common Stocks	$	118,320,955		$	—	$	3,606	$	118,324,561
Preferred Stocks		982,714			—		—		982,714
Certificates of Deposit		—			38,160,474		—		38,160,474
Commercial Paper		—			145,079,522		—		145,079,522
U.S. Treasury Obligations		—			20,017,853		—		20,017,853
Money Market Funds		48,566,486			—		—		48,566,486
	$	167,870,155		$	203,257,849	$	3,606	$	371,131,610
Derivative financial instruments(a)
Assets
Futures Contracts	$	4,040,586		$	—	$	—	$	4,040,586
Liabilities
Futures Contracts		(12,905,555	)		—		—		(12,905,555	)
	$	(8,864,969	)	$	—	$	—	$	(8,864,969	)

^(a)  Shown at the unrealized appreciation (depreciation) on the contracts.

6

Consolidated Schedule of Investments (unaudited) (continued)	iShares® Commodities Select Strategy ETF
January 31, 2019

Portfolio Abbreviations - Equity

ADR	American Depositary Receipt
NVS	Non-Voting Shares
Portfolio Abbreviations - Fixed Income
LIBOR	London Interbank Offered Rate

7

Consolidated Schedule of Investments (unaudited)	iShares® Gold Strategy ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Shares/ Par		Value
Grantor Trust
Grantor Trust — 20.9%
iShares Gold Trust(a)(b)		83,202	$	1,051,673
Total Grantor Trust (Cost: $1,018,149)				1,051,673
Short-Term Investments
Commercial Paper — 21.5%
Electricite de France SA, 3.04%, 02/26/19(c)	$	250,000		249,487
Hitachi Capital America Corp., 2.84%, 02/26/19(c)		160,000		159,672
Parker-Hannifin Corp., 2.48%, 02/20/19(c)		250,000		249,657
Ryder System Inc., 2.74%, 02/05/19(c)		175,000		174,934
Walgreens Boots Alliance Inc., 2.84%, 02/25/19(c)		250,000		249,507
				1,083,257
U.S. Treasury Obligations — 53.1%
U.S. Treasury Bill 2.28%, 02/05/19(c)		250,000		249,938
2.30%, 02/07/19(c)		250,000		249,905
2.34%, 02/14/19(c)		200,000		199,833
2.35%, 02/12/19(c)		425,000		424,700
2.38%, 02/21/19(c)		200,000		199,740
2.38%, 03/19/19(c)		200,000		199,401

Security	Par/ Shares		Value
U.S. Treasury Obligations (continued)
2.39%, 02/19/19(c)	$	200,000	$	199,765
2.39%, 03/07/19(c)		250,000		249,445
2.39%, 03/12/19(c)		250,000		249,364
2.40%, 02/28/19(c)		450,000		449,202
				2,671,293
Money Market Funds — .00%
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.31%(a)(d)		1,792		1,792
Total Short-Term Investments — 74.6% (Costs: $3,756,371)				3,756,342
Total Investments in Securities — 95.5% (Cost: $4,774,520)				4,808,015
Other Assets, Less Liabilities — 4.5%				224,482
Net Assets — 100.0%			$	5,032,497

^(a)  Affiliate of the Fund.

^(b)  Non-income producing security.

^(c)  Rates are discount rates or a range of discount rates at the time of purchase.

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

Affiliates

Investments in issuers considered to be affiliates of the Fund during the three months ended January 31, 2019, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Shares Held at 10/31/18		Shares Purchased			Shares Sold			Shares Held at 01/31/19		Value at 01/31/19		Income		Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)
BlackRock Cash Funds: Treasury, SL Agency Shares		1,592		200	(a)		—			1,792	$	1,792	$	1,203	$	—	$	—
iShares Gold Trust		84,019		12,383			(13,200	)		83,202		1,051,673		—		949		88,889
											$	1,053,465	$	1,203	$	949	$	88,889

^(a) Net of purchases and sales     

Futures Contracts

Description	Number of Contracts		Expiration Date		Notional Amount (000)		Value/ Unrealized Appreciation (Depreciation)
Long Contracts
Gold		29		04/26/19	$	3,843	$	34,068

Fair Value Measurements

Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.

8

Consolidated Schedule of Investments (unaudited) (continued)	iShares® Gold Strategy ETF
January 31, 2019

Fair Value Measurements (continued)

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of January 31, 2019. The breakdown of the Fund’s investments into major categories is disclosed in the Consolidated Schedule of Investments above.

	Level 1		Level 2		Level 3		Total
Investments
Assets
Grantor Trust	$	1,051,673	$	—	$	—	$	1,051,673
Commercial Paper		—		1,083,257		—		1,083,257
U.S. Treasury Obligations		—		2,671,293		—		2,671,293
Money Market Funds		1,792		—		—		1,792
	$	1,053,465	$	3,754,550	$	—	$	4,808,015
Derivative financial instruments(a)
Assets
Futures Contracts	$	34,068	$	—	$	—	$	34,068

^(a) Shown at the unrealized appreciation (depreciation) on the contracts.

9

Schedule of Investments (unaudited)	iShares® Inflation Hedged Corporate Bond ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Shares		Value
Investment Companies
Exchange-Traded Funds — 96.4%
iShares iBoxx $ Investment Grade Corporate Bond ETF(a)		82,020	$	9,565,172
Total Investment Companies — 96.4% (Cost: $9,391,323)				9,565,172
Short-Term Investments
Money Market Funds — 1.2%
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.31%(a)(b)		118,852		118,852
Total Short-Term Investments — 1.2% (Cost: $118,852)				118,852
Total Investments in Securities — 97.6% (Cost: $9,510,175)				9,684,024
Other Assets, Less Liabilities — 2.4%				240,335
Net Assets — 100.0%			$	9,924,359

^(a)  Affiliate of the Fund.

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

Affiliates

Investments in issuers considered to be affiliates of the Fund during the three months ended January 31, 2019, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Shares Held at 10/31/18		Shares Purchased			Shares Sold			Shares Held at 01/31/19		Value at 01/31/19		Income		Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)
BlackRock Cash Funds: Treasury, SL Agency Shares		25,445		93,407	(a)		—			118,852	$	118,852	$	382	$	—		$	—
iShares iBoxx $ Investment Grade Corporate Bond ETF		84,841		—			(2,821	)		82,020		9,565,172		90,162		(8,298	)		369,215
											$	9,684,024	$	90,544	$	(8,298	)	$	369,215

^(a) Net of purchases and sales

Futures Contracts

Description	Number of Contracts		Expiration Date		Notional Amount (000)		Value/ Unrealized Appreciation (Depreciation)
Long Contracts
10-Year Ultra Long U.S. Treasury Bond		3		03/20/19	$	392	$	9,902
5-Year U.S. Treasury Note		1		03/29/19		115		2,097
								11,999
Short Contract
10-Year U.S. Treasury Note		2		03/20/19		245		3,778
							$	15,777

10

Schedule of Investments (unaudited) (continued)	iShares® Inflation Hedged Corporate Bond ETF
January 31, 2019

Centrally Cleared Inflation Swaps

Paid by the Fund			Received by the Fund					Notional						Upfront Premium		Unrealized
Rate	Frequency		Reference	Frequency		Termination Date		Amount (000)			Value			Paid (Received)		Appreciation (Depreciation)
2.21%		At Termination	U.S. CPI Urban Consumers NSA		At Termination		05/15/21	$	(1,892	)	$	(24,445	)	$	20	$	(24,465	)
2.29		At Termination	U.S. CPI Urban Consumers NSA		At Termination		05/15/23		(3,684	)		(71,803	)		56		(71,860	)
2.37		At Termination	U.S. CPI Urban Consumers NSA		At Termination		05/15/28		(4,296	)		(136,334	)		100		(136,434	)
2.19		At Termination	U.S. CPI Urban Consumers NSA		At Termination		12/03/28		(750	)		(9,033	)		17		(9,050	)
2.40		At Termination	U.S. CPI Urban Consumers NSA		At Termination		05/15/48		(296	)		(17,237	)		15		(17,252	)
											$	(258,852	)	$	208	$	(259,061	)

Fair Value Measurements

Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of January 31, 2019. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.

	Level 1		Level 2			Level 3		Total
Investments
Assets
Investment Companies	$	9,565,172	$	—		$	—	$	9,565,172
Money Market Funds		118,852		—			—		118,852
	$	9,684,024	$	—		$	—	$	9,684,024
Derivative financial instruments(a)
Assets
Futures Contracts	$	15,777	$	—		$	—	$	15,777
Liabilities
Swaps		—		(259,061	)		—		(259,061	)
	$	15,777	$	(259,061	)	$	—	$	(243,284	)

^(a)  Shown at the unrealized appreciation (depreciation) on the contracts.

Portfolio Abbreviations - Fixed Income
CPI	Consumer Price Index

11

Schedule of Investments (unaudited)	iShares® Interest Rate Hedged Corporate Bond ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Shares		Value
Investment Companies
Exchange-Traded Funds — 96.4%
iShares iBoxx $ Investment Grade Corporate Bond ETF(a)(b)		2,240,197	$	261,251,774
Total Investment Companies — 96.4% (Cost: $260,345,164)				261,251,774
Short-Term Investments
Money Market Funds — 3.6%
BlackRock Cash Funds: Institutional, SL Agency Shares, 2.62%(a)(c)(d)		5,423,806		5,425,433
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.31%(a)(c)		4,411,395		4,411,395
				9,836,828
Total Short-Term Investments — 3.6% (Cost: $9,835,747)				9,836,828
Total Investments in Securities — 100.0% (Cost: $270,180,911)				271,088,602
Other Assets, Less Liabilities — (0.0)%				(63,221	)
Net Assets — 100.0%			$	271,025,381

(a) Affiliate of the Fund.

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

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

(d) All or a portion of this security was purchased with cash collateral received from loaned securities.

Affiliates

Investments in issuers considered to be affiliates of the Fund during the three months ended January 31, 2019, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Shares Held at 10/31/18		Shares Purchased			Shares Sold			Shares Held at 01/31/19		Value at 01/31/19		Income			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares		78,148,424		—			(72,724,618	)(a)		5,423,806	$	5,425,433	$	42,270	(b)	$	2,911		$	(2,547	)
BlackRock Cash Funds: Treasury, SL Agency Shares		2,972,028		1,439,367	(a)		—			4,411,395		4,411,395		14,014			—			—
iShares iBoxx $ Investment Grade Corporate Bond ETF		1,824,319		753,856			(337,978	)		2,240,197		261,251,774		1,892,978			(1,105,586	)		9,743,035
											$	271,088,602	$	1,949,262		$	(1,102,675	)	$	9,740,488

(a) Net of purchases and sales.

(b) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.

Centrally Cleared Interest Rate Swaps

Paid by the Fund		Received by the Fund		Effective		Termination		Notional Amount						Upfront Premium Paid			Unrealized Appreciation
Rate	Frequency	Rate(a)	Frequency	Date		Date		(000)			Value			(Received)			(Depreciation)
1.17%	Quarterly	2.74%	Quarterly		N/A		12/08/21	$	(56,541	)	$	2,157,373		$	2,483,040		$	(325,667	)
2.38	Quarterly	2.74	Quarterly		N/A		01/12/23		(23,033	)		126,301			516,248			(389,947	)
2.46	Quarterly	2.74	Quarterly		N/A		01/12/25		(22,281	)		112,868			668,341			(555,473	)
1.44	Quarterly	2.74	Quarterly		N/A		12/08/26		(84,465	)		7,062,138			8,717,358			(1,655,220	)
3.25	Quarterly	2.74	Quarterly		N/A		10/08/28		(9,800	)		(489,268	)		(195,164	)		(294,104	)
2.34	Quarterly	2.74	Quarterly		N/A		12/08/36		(38,709	)		2,639,730			3,828,425			(1,188,696	)

12

Schedule of Investments (unaudited) (continued)	iShares® Interest Rate Hedged Corporate Bond ETF
January 31, 2019

Centrally Cleared Interest Rate Swaps (continued)

Paid by the Fund		Received by the Fund		Effective		Termination		Notional Amount						Upfront Premium Paid			Unrealized Appreciation
Rate	Frequency	Rate(a)	Frequency	Date		Date		(000)			Value			(Received)			(Depreciation)
1.77%	Quarterly	2.74%	Quarterly		N/A		12/08/46	$	(20,996	)	$	4,461,348		$	5,195,153			$(733,805	)
3.33	Quarterly	2.74	Quarterly		N/A		10/24/48		(8,382	)		(871,894	)		(750,710	)		(121,184	)
											$	15,198,596		$	20,462,691			$(5,264,096	)

^(a) Represents 3-month LIBOR. Rate shown is the rate in effect as of period-end.

Fair Value Measurements

Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of January 31, 2019. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.

	Level 1		Level 2			Level 3		Total
Investments
Assets
Investment Companies	$	261,251,774	$	—		$	—	$	261,251,774
Money Market Funds		9,836,828		—			—		9,836,828
	$	271,088,602	$	—		$	—	$	271,088,602
Derivative financial instruments(a)
Liabilities
Swaps	$	—	$	(5,264,096	)	$	—	$	(5,264,096	)

^(a)   Shown at the unrealized appreciation (depreciation) on the contracts.

13

Schedule of Investments (unaudited)	iShares® Interest Rate Hedged Emerging Markets Bond ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Shares		Value
Investment Companies
Exchange-Traded Funds — 97.1%
iShares J.P. Morgan USD Emerging Markets Bond ETF(a)		135,264	$	14,727,544
Total Investment Companies — 97.1% (Cost: $14,676,124)				14,727,544
Short-Term Investments
Money Market Funds — 1.3%
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.31%(a)(b)		201,647		201,647
Total Short-Term Investments — 1.3% (Cost: $201,647)				201,647
Total Investments in Securities — 98.4% (Cost: $14,877,771)				14,929,191
Other Assets, Less Liabilities — 1.6%				248,516
Net Assets — 100.0%			$	15,177,707

(a) Affiliate of the Fund.

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

Affiliates

Investments in issuers considered to be affiliates of the Fund during the three months ended January 31, 2019, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Shares Held at 10/31/18		Shares Purchased			Shares Sold			Shares Held at 01/31/19		Value at 01/31/19		Income		Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)
BlackRock Cash Funds: Treasury, SL Agency Shares		159,121		42,526	(a)		—			201,647	$	201,647	$	834	$	—		$	—
iShares J.P. Morgan USD Emerging Markets Bond ETF		127,721		12,450			(4,907	)		135,264		14,727,544		279,444		(56,775	)		638,122
											$	14,929,191	$	280,278	$	(56,775	)	$	638,122

(a) Net of purchases and sales.

Centrally Cleared Interest Rate Swaps

Paid by the Fund		Received by the Fund		Effective		Termination		Notional Amount						Upfront Premium Paid			Unrealized Appreciation
Rate	Frequency	Rate(a)	Frequency	Date		Date		(000)			Value			(Received)			(Depreciation)
1.17%	Quarterly	2.74%	Quarterly		N/A		12/08/21	$	(4,922	)	$	187,804		$	238,948		$	(51,144	)
2.46	Quarterly	2.74	Quarterly		N/A		01/12/25		(1,682	)		8,521			54,650			(46,129	)
1.44	Quarterly	2.74	Quarterly		N/A		12/08/26		(3,805	)		318,137			358,879			(40,742	)
3.25	Quarterly	2.74	Quarterly		N/A		10/18/28		(1,031	)		(51,473	)		(20,996	)		(30,477	)
2.34	Quarterly	2.74	Quarterly		N/A		12/08/36		(1,338	)		91,244			167,175			(75,931	)
2.41	Quarterly	2.74	Quarterly		N/A		06/19/37		(357	)		21,270			5,023			16,247
1.77	Quarterly	2.74	Quarterly		N/A		12/08/46		(955	)		203,028			253,048			(50,020	)
3.33	Quarterly	2.74	Quarterly		N/A		10/24/48		(215	)		(22,365	)		(20,064	)		(2,301	)
											$	756,166		$	1,036,663		$	(280,497	)

(a) Represents 3-month LIBOR. Rate shown is the rate in effect as of period-end.

Fair Value Measurements

Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.

14

Schedule of Investments (unaudited) (continued)	iShares® Interest Rate Hedged Emerging Markets Bond ETF
January 31, 2019

Fair Value Measurements (continued)

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of January 31, 2019. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.

	Level 1		Level 2			Level 3		Total
Investments
Assets
Investment Companies	$	14,727,544	$	—		$	—	$	14,727,544
Money Market Funds		201,647		—			—		201,647
	$	14,929,191	$	—		$	—	$	14,929,191
Derivative financial instruments(a)
Assets
Swaps	$	—	$	16,247		$	—	$	16,247
Liabilities
Swaps		—		(296,744	)		—		(296,744	)
	$	—	$	(280,497	)	$	—	$	(280,497	)

(a) Shown at the unrealized appreciation (depreciation) on the contracts.

15

Schedule of Investments (unaudited)	iShares® Interest Rate Hedged High Yield Bond ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Shares		Value
Investment Companies
Exchange-Traded Funds — 98.2%
iShares iBoxx $ High Yield Corporate Bond ETF(a)(b)		2,408,541	$	204,990,924
Total Investment Companies — 98.2% (Cost: $211,711,601)				204,990,924
Short-Term Investments
Money Market Funds — 46.1%
BlackRock Cash Funds: Institutional, SL Agency Shares, 2.62%(a)(c)(d)		94,066,137		94,094,357
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.31%(a)(c)		2,160,401		2,160,401
				96,254,758
Total Short-Term Investments — 46.1% (Cost: $96,232,425)				96,254,758
Total Investments in Securities — 144.3% (Cost: $307,944,026)				301,245,682
Other Assets, Less Liabilities — (44.3)%				(92,440,911	)
Net Assets — 100.0%			$	208,804,771

^(a)  Affiliate of the Fund.

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

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

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

Affiliates

Investments in issuers considered to be affiliates of the Fund during the three months ended January 31, 2019, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Shares Held at 10/31/18		Shares Purchased		Shares Sold			Shares Held at 01/31/19		Value at 01/31/19		Income			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares		181,196,855		—		(87,130,718	)(a)		94,066,137	$	94,094,357	$	583,179	(b)	$	(13,736	)	$	12,699
BlackRock Cash Funds: Treasury, SL Agency Shares		5,837,602		—		(3,677,201	)(a)		2,160,401		2,160,401		17,482			—			—
iShares iBoxx $ High Yield Corporate Bond ETF		4,801,259		—		(2,392,718	)		2,408,541		204,990,924		5,557,112			(11,008,627	)		5,632,643
										$	301,245,682	$	6,157,773		$	(11,022,363	)	$	5,645,342

^(a)  Net of purchases and sales.

^(b)  Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.

Centrally Cleared Interest Rate Swaps

Paid by the Fund		Received by the Fund		Effective		Termination		Notional Amount					Upfront Premium Paid		Unrealized Appreciation
Rate	Frequency	Rate(a)	Frequency	Date		Date		(000)			Value		(Received)		(Depreciation)
2.17%	Quarterly	2.74%	Quarterly		N/A		01/12/20	$	(43,996	)	$	212,118	$	303,088	$	(90,970	)
1.82	Quarterly	2.74	Quarterly		N/A		12/09/21		(34,499	)		700,355		1,174,402		(474,047	)
2.38	Quarterly	2.74	Quarterly		N/A		01/12/23		(68,491	)		375,568		1,005,022		(629,454	)
2.46	Quarterly	2.74	Quarterly		N/A		01/12/25		(16,301	)		82,576		648,541		(565,965	)
1.44	Quarterly	2.74	Quarterly		N/A		12/08/26		(10,200	)		852,825		1,137,730		(284,905	)
2.23	Quarterly	2.74	Quarterly		N/A		12/09/26		(28,975	)		780,889		615,779		165,110

16

Schedule of Investments (unaudited) (continued)	iShares® Interest Rate Hedged High Yield Bond ETF
January 31, 2019

Centrally Cleared Interest Rate Swaps (continued)

Paid by the Fund		Received by the Fund		Effective		Termination		Notional Amount						Upfront Premium Paid			Unrealized Appreciation
Rate	Frequency	Rate(a)	Frequency	Date		Date		(000)			Value			(Received)			(Depreciation)
2.34%	Quarterly	2.74%	Quarterly		N/A		12/08/36		$(84	)		$(5,728	)		$(5,895	)		$167
3.33	Quarterly	2.74	Quarterly		N/A		10/24/48		(100	)		(10,402	)		(232	)		(10,170	)
												$2,988,201			$4,878,435			$(1,890,234	)

^(a)  Represents 3-month LIBOR. Rate shown is the rate in effect as of period-end.

Fair Value Measurements

Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of January 31, 2019. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.

	Level 1		Level 2			Level 3		Total
Investments
Assets
Investment Companies	$	204,990,924	$	—		$	—	$	204,990,924
Money Market Funds		96,254,758		—			—		96,254,758
	$	301,245,682	$	—		$	—	$	301,245,682
Derivative financial instruments(a)
Assets
Swaps	$	—	$	165,277		$	—	$	165,277
Liabilities
Swaps		—		(2,055,511	)		—		(2,055,511	)
	$	—	$	(1,890,234	)	$	—	$	(1,890,234	)

^(a)  Shown at the unrealized appreciation (depreciation) on the contracts.

17

Schedule of Investments (unaudited) January 31, 2019 iShares^® Interest Rate Hedged Long-Term Corporate Bond ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
Investment Companies
Exchange-Traded Funds — 94.8%
iShares Long-Term Corporate Bond ETF(a)		740,890	$	43,253,158
Total Investment Companies — 94.8% (Cost: $43,995,370)				43,253,158
Short-Term Investments
Money Market Funds — 0.1%
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.31%(a)(b)		46,059		46,059
Total Short-Term Investments — 0.1% (Cost: $46,059)				46,059
Total Investments in Securities — 94.9% (Cost: $44,041,429)				43,299,217
Other Assets, Less Liabilities — 5.1%				2,306,818
Net Assets — 100.0%			$	45,606,035

^(a)  Affiliate of the Fund.

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

Affiliates

Investments in issuers considered to be affiliates of the Fund during the three months ended January 31, 2019, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Shares Held at 10/31/18		Shares Purchased		Shares Sold			Shares Held at 01/31/19		Value at 01/31/19		Income			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares		9,059,128		—		(9,059,128	)(a)		—	$	—	$	12,665	(b)	$	(1,788	)	$	890
BlackRock Cash Funds: Treasury, SL Agency Shares		770,488		—		(724,429	)(a)		46,059		46,059		3,883			—			—
iShares Long-Term Corporate Bond ETF		966,877		284,622		(510,609	)		740,890		43,253,158		590,202			(749,223	)		2,410,353
										$	43,299,217	$	606,750		$	(751,011	)	$	2,411,243

^(a)  Net of purchases and sales.

^(b)  Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.

Centrally Cleared Interest Rate Swaps

Paid by the Fund		Received by the Fund		Effective		Termination		Notional Amount						Upfront Premium Paid			Unrealized Appreciation
Rate	Frequency	Rate(a)	Frequency	Date		Date		(000)			Value			(Received)			(Depreciation)
1.17%	Quarterly	2.74%	Quarterly		N/A		12/08/21	$	(766	)	$	29,227		$	31,174		$	(1,947	)
2.38	Quarterly	2.74	Quarterly		N/A		01/12/23		(3,884	)		21,298			110,940			(89,642	)
2.46	Quarterly	2.74	Quarterly		N/A		01/12/25		(1	)		5			42			(37	)
1.44	Quarterly	2.74	Quarterly		N/A		12/08/26		(3,923	)		328,003			375,364			(47,361	)
3.25	Quarterly	2.74	Quarterly		N/A		10/18/28		(3,697	)		(184,574	)		(101,044	)		(83,530	)
2.34	Quarterly	2.74	Quarterly		N/A		12/08/36		(18,811	)		1,282,808			2,202,190			(919,382	)
1.77	Quarterly	2.74	Quarterly		N/A		12/08/46		(12,063	)		2,563,214			3,202,389			(639,175	)
3.33	Quarterly	2.74	Quarterly		N/A		10/24/48		(971	)		(101,003	)		(44,656	)		(56,347	)
											$	3,938,978		$	5,776,399		$	(1,837,421	)

^(a)  Represents 3-month LIBOR. Rate shown is the rate in effect as of period-end.

18

Schedule of Investments (unaudited) (continued)	iShares® Interest Rate Hedged Long-Term Corporate Bond ETF
January 31, 2019

Fair Value Measurements

Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of January 31, 2019. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.

	Level 1		Level 2			Level 3		Total
Investments
Assets
Investment Companies	$	43,253,158	$	—		$	—	$	43,253,158
Money Market Funds		46,059		—			—		46,059
	$	43,299,217	$	—		$	—	$	43,299,217
Derivative financial instruments(a)
Liabilities
Swaps	$	—	$	(1,837,421	)	$	—	$	(1,837,421	)

^(a)  Shown at the unrealized appreciation (depreciation) on the contracts.

19

Schedule of Investments (unaudited) January 31, 2019 iShares^® Short Maturity Bond ETF (Percentages shown are based on Net Assets)

Security	Par (000)		Value
Asset-Backed Securities
Adams Mill CLO Ltd., Series 2014-1A, Class A2, 3.89%, 07/15/26 (Call 04/15/19), (3 mo. LIBOR US + 1.100%)(a)(b)	$	5,927	$	5,914,203
Ally Auto Receivables Trust, Class A2, 2.72%, 05/17/21 (Call 08/15/21)		36,910		36,874,747
ALM VII Ltd., Series 2012-7A, Class A1R, 4.27%, 10/15/28 (Call 04/15/19), (3 mo. LIBOR US + 1.480%)(a)(b)		9,000		9,010,232
ALM XII Ltd., Class A1R, 3.67%, 04/16/27 (Call 04/16/19), (3 mo. LIBOR US + 0.890%)(a)(b)		3,735		3,719,196
ALM XVII Ltd., Class A1AR, 3.72%, 01/15/28 (Call 07/15/19), (3 mo. LIBOR US + 0.930%)(a)(b)		22,500		22,349,119
American Express Credit Account Master Trust 1.77%, 11/15/22		60,000		59,295,438
2.67%, 10/17/22		3,875		3,867,624
Series 2017-1, Class A, 1.93%, 09/15/22		10,500		10,410,245
Series 2017-4, Class A, 1.64%, 12/15/21		44,130		43,987,853
Americredit Automobile Receivables Trust 3.11%, 01/18/22 (Call 12/18/22)		45,030		45,080,308
Class A2, 2.71%, 07/19/21 (Call 06/18/22)		8,817		8,806,057
AmeriCredit Automobile Receivables Trust
Series 2016-4, Class A3, 1.53%, 07/08/21 (Call 01/08/21)		13,448		13,387,923
Series 2017-1, Class A3, 1.87%, 08/18/21 (Call 12/18/20)		670		666,793
Series 2017-3, Class A3, 1.90%, 03/18/22 (Call 04/18/21)		19,200		19,023,892
Anchorage Capital CLO 7 Ltd., 3.75%, 10/15/27 (Call 04/15/19), (3 mo. LIBOR US + 0.960%)(a)(b)		10,740		10,681,382
Arbor Realty Commercial Real Estate Notes Ltd., Series 2017-FL1, Class A, 3.81%, 04/15/27 (Call 11/15/19), (1 mo. LIBOR US + 1.300%)(a)(b)		12,170		12,189,195
Ares XXIX CLO Ltd., Series 2014-1A, Class A1R, 3.96%, 04/17/26 (Call 04/17/19), (3 mo. LIBOR US + 1.190%)(a)(b)		7,405		7,414,066
Atlas Senior Loan Fund III Ltd., Series 2013-1A, Class AR, 3.47%, 11/17/27 (Call 05/17/19), (3 mo. LIBOR US + 0.830%)(a)(b)		15,411		15,286,780
Atlas Senior Loan Fund IV Ltd., Class A1RR, 3.30%, 02/17/26 (Call 05/15/19), (3 mo. LIBOR US + 0.680%)(a)(b)		3,321		3,306,140
Avery Point IV CLO Ltd., 3.87%, 04/25/26 (Call 04/25/19), (3 mo. LIBOR US + 1.100%)(a)(b)		5,459		5,459,158
BA Credit Card Trust 1.84%, 01/17/23		10,000		9,857,080
Class A1, 1.95%, 08/15/22		26,700		26,469,125
BlueMountain CLO Ltd., 3.69%, 11/20/28 (Call 11/20/19), (3 mo. LIBOR US + 1.050%)(a)(b)		11,310		11,263,678
BMW Floorplan Master Owner Trust, Class A2, 2.83%, 05/15/23, (1 mo. LIBOR US + 0.320%)(a)(b)		21,060		21,059,968

Security	Par (000)		Value
BMW Vehicle Owner Trust 1.16%, 11/25/20 (Call 04/25/20)	$	18,084	$	17,974,432
1.37%, 12/27/22 (Call 04/25/20)		8,735		8,606,637
Cabela’s Credit Card Master Note Trust, Series 2014-2, Class A, 2.96%, 07/15/22, (1 mo. LIBOR US + 0.450%)(b)		3,500		3,502,076
Capital One Multi-Asset Execution Trust 1.33%, 06/15/22		2,360		2,342,253
1.34%, 04/15/22		26,320		26,175,461
Series 2016-A1, Class A1, 2.96%, 02/15/22, (1 mo. LIBOR US + 0.450%)(b)		38,000		38,022,800
Series 2017-A1, Class A1, 2.00%, 01/17/23		30,000		29,757,147
Carlyle Global Market Strategies CLO Ltd., Series 2013-2A, Class AR, 3.67%, 01/18/29 (Call 04/18/19), (3 mo. LIBOR US + 0.890%)(a)(b)		6,210		6,158,709
CarMax Auto Owner Trust 1.68%, 09/15/21 (Call 06/15/20)		12,349		12,175,150
1.88%, 06/15/21 (Call 04/15/20)		16,435		16,275,234
Class A2A, 3.02%, 07/15/22 (Call 12/15/22)		24,550		24,577,454
Series 2015-1, Class A4, 1.83%, 07/15/20 (Call 04/15/19)		13,876		13,851,416
Series 2018-2, Class A2, 2.73%, 08/16/21 (Call 02/15/22)		10,395		10,377,440
Catamaran CLO Ltd., 3.66%, 04/22/27 (Call 04/22/19), (3 mo. LIBOR US + 0.900%)(a)(b)		4,220		4,188,284
Cedar Funding II CLO Ltd., Series 2013-1A, Class A1R, 4.00%, 06/09/30 (Call 06/09/19), (3 mo. LIBOR US + 1.230%)(a)(b)		8,000		7,975,397
Cedar Funding VI CLO Ltd., Class AR, 3.85%, 10/20/28 (Call 10/20/19), (3 mo. LIBOR US + 1.090%)(a)(b)		20,500		20,399,753
Chase Issuance Trust
Series 2014-A5, Class A5, 2.88%, 04/15/21, (1 mo. LIBOR US + 0.370%)(b)		7,000		7,002,937
Series 2016-A1, Class A, 2.92%, 05/15/21, (1 mo. LIBOR US + 0.410%)(b)		36,750		36,782,450
Chesapeake Funding II LLC
Series 2016-1A, Class A2, 3.66%, 03/15/28, (1 mo. LIBOR US + 1.150%)(a)(b)		4,326		4,333,953
Series 2016-2A, Class A2, 3.51%, 06/15/28 (Call 10/15/19), (1 mo. LIBOR US + 1.000%)(a)(b)		4,451		4,459,343
CIFC Funding Ltd.
Class A, 4.00%, 04/20/30 (Call 04/20/19), (3 mo. LIBOR US + 1.240%)(a)(b)		6,375		6,361,428
Class A1A, 3.90%, 10/17/30 (Call 10/17/20), (3 mo. LIBOR US + 1.130%)(a)(b)		15,175		15,127,211
Series 2015-2A, Class AR, 3.57%, 04/15/27 (Call 04/15/19), (3 mo. LIBOR US + 0.780%)(a)(b)		17,000		16,895,934
Citibank Credit Card Issuance Trust
Series 2014-A6, Class A6, 2.15%, 07/15/21		6,950		6,928,857
Series 2016-A1, Class A1, 1.75%, 11/19/21		23,370		23,186,041
Series 2017-A9, Class A9, 1.80%, 09/20/21		14,535		14,448,041
CNH Equipment Trust
Class A2, 2.96%, 05/16/22		12,530		12,528,976
Series 2017-B, Class A3, 1.86%, 09/15/22 (Call 09/15/21)		19,320		19,089,294

20

Schedule of Investments (unaudited) (continued)	iShares® Short Maturity Bond ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
Discover Card Execution Note Trust, Series 2014-A4, Class A4, 2.12%, 12/15/21	$	11,230	$	11,203,015
Drive Auto Receivables Trust 3.08%, 07/15/21 (Call 08/15/22)		41,150		41,157,880
3.08%, 09/15/21 (Call 10/15/22)		23,579		23,576,909
Class A2, 2.64%, 09/15/20 (Call 03/15/21)		2,619		2,617,907
Class A2, 2.75%, 10/15/20 (Call 08/15/21)		4,621		4,619,444
Class A3, 3.01%, 11/15/21 (Call 08/15/21)		35,660		35,640,351
Series 2017-2, Class B, 2.25%, 06/15/21 (Call 07/15/20)		237		236,663
Dryden 33 Senior Loan Fund, 4.22%, 10/16/28 (Call 04/15/19), (3 mo. LIBOR US + 1.430%)(a)(b)		3,485		3,488,053
Dryden XXVI Senior Loan Fund, Series 2013-26A, Class AR, 3.69%, 04/15/29 (Call 10/15/19), (3 mo. LIBOR US + 0.900%)(a)(b)		16,350		16,195,080
Enterprise Fleet Financing LLC 2.13%, 07/20/22(a)		1,639		1,631,153
2.13%, 05/22/23(a)		6,222		6,172,276
Series 2015-2, Class A3, 2.09%, 02/22/21(a)		1,719		1,716,127
Series 2017-2, Class A2, 1.97%, 01/20/23(a)		11,009		10,934,798
Ford Credit Auto Owner Trust, 1.22%, 03/15/21 (Call 07/15/20)		3,122		3,096,233
Ford Credit Floorplan Master Owner Trust
Series 2014-2, Class A, 3.01%, 02/15/21, (1 mo. LIBOR US + 0.500%)(b)		11,000		11,001,071
Series 2016-1, Class A2, 3.41%, 02/15/21, (1 mo. LIBOR US + 0.900%)(b)		10,000		10,002,039
Series 2016-3, Class A2, 3.13%, 07/15/21, (1 mo. LIBOR US + 0.620%)(b)		10,000		10,015,665
Ford Credit Floorplan Master Owner Trust A 2.09%, 03/15/22(a)		2,560		2,535,833
Series 2016-1, Class A1, 1.76%, 02/15/21		24,775		24,771,596
GM Financial Consumer Automobile Receivables Trust, Class A2, 2.93%, 11/16/21 (Call 08/16/22)		23,250		23,253,932
GoldenTree Loan Opportunities IX Ltd., Class AR2, 3.86%, 10/29/29 (Call 10/29/20), (3 mo. LIBOR US + 1.110%)(a)(b)		16,680		16,574,394
Halcyon Loan Advisors Funding Ltd., Class AR, 3.85%, 07/25/27 (Call 07/25/19), (3 mo. LIBOR US + 1.080%)(a)(b)		16,185		16,144,400
Honda Auto Receivables Owner Trust 2.98%, 05/17/21 (Call 01/15/22)		23,000		23,009,425
Class A4, 3.16%, 08/19/24 (Call 10/18/21)		5,705		5,749,421
Series 2015-4, Class A4, 1.44%, 01/21/22 (Call 03/21/19)		5,662		5,657,300
Series 2016-2, Class A3, 1.39%, 04/15/20 (Call 08/15/19)		2,382		2,374,588
Series 2016-2, Class A4, 1.62%, 08/15/22 (Call 08/15/19)		18,000		17,881,157
John Deere Owner Trust, Series 2017-B, Class A3, 1.82%, 10/15/21 (Call 01/15/21)		9,890		9,792,643
LCM XX LP, Class AR, 3.80%, 10/20/27 (Call 04/20/19), (3 mo. LIBOR US + 1.040%)(a)(b)		13,750		13,691,767
LCM Xxiv Ltd., Series 24A, Class A, 4.07%, 03/20/30 (Call 04/20/19), (3 mo. LIBOR US + 1.310%)(a)(b)		2,000		1,997,588

Security	Par (000)		Value
LoanCore Issuer Ltd., Class A, 3.64%, 05/15/28 (Call 05/15/20), (1 mo. LIBOR US + 1.130%)(a)(b)	$	9,450	$	9,423,076
Madison Park Funding X Ltd., Series 2012-10A, Class AR, 4.21%, 01/20/29 (Call 04/20/19), (3 mo. LIBOR US + 1.450%)(a)(b)		6,250		6,256,286
Madison Park Funding XIII Ltd., Class AR2, 3.71%, 04/19/30 (Call 04/19/19), (3 mo. LIBOR US + 0.950%)(a)(b)		4,000		3,964,888
Marathon CRE Ltd., Class A, 3.66%, 06/15/28 (Call 06/15/20), (1 mo. LIBOR US + 1.150%)(a)(b)		3,640		3,605,596
Mercedes-Benz Auto Receivables Trust, Series 2016-1, Class A3, 1.26%, 02/16/21 (Call 06/15/20)		4,097		4,068,141
Mercedes-Benz Master Owner Trust Class A, 2.85%, 05/15/23, (1 mo. LIBOR US + 0.340%)(a)(b)		21,820		21,770,071
Series 2016-BA, Class A, 3.21%, 05/17/21, (1 mo. LIBOR US + 0.700%)(a)(b)		11,375		11,388,146
Series 2017-BA, Class A, 2.93%, 05/16/22, (1 mo. LIBOR US + 0.420%)(a)(b)		14,540		14,553,061
Navient Private Education Loan Trust Class A1, 2.86%, 12/15/59 (Call 01/15/28), (1 mo. LIBOR US + 0.350%)(a)(b)		13,202		13,185,575
Series 2014-CT, Class A, 3.21%, 09/16/24 (Call 08/15/21), (1 mo. LIBOR US + 0.700%)(a)(b)		799		800,141
Navient Private Education Refi Loan Trust Class A1, 2.81%, 12/15/59 (Call 12/15/28), (1 mo. LIBOR US + 0.300%)(a)(b)		13,558		13,534,609
Class A1, 3.01%, 06/16/42 (Call 08/15/26)(a)		21,970		21,917,270
Navient Student Loan Trust, Series 2015-2, Class A2, 2.93%, 08/27/29 (Call 05/25/27), (1 mo. LIBOR US + 0.420%)(b)		1,515		1,515,213
Nissan Auto Receivables Owner Trust 1.18%, 01/15/21 (Call 09/15/20)		3,462		3,433,973
1.75%, 10/15/21 (Call 05/15/21)		11,595		11,484,734
Series 2016-B, Class A3, 1.32%, 01/15/21 (Call 09/15/20)		11,446		11,377,322
Nissan Master Owner Trust Receivables
Class A, 2.83%, 10/17/22, (1 mo. LIBOR US + 0.320%)(b)		7,035		7,032,237
Series 2016-A, Class A1, 3.15%, 06/15/21, (1 mo. LIBOR US + 0.640%)(b)		18,500		18,514,591
Series 2017-B, Class A, 2.94%, 04/18/22, (1 mo. LIBOR US + 0.430%)(b)		22,513		22,540,139
OCP CLO Ltd., Class A1R, 3.90%, 10/18/28 (Call 10/18/19), (3 mo. LIBOR US + 1.120%)(a)(b)		17,210		17,090,372
Octagon Investment Partners 24 Ltd., Series 2015-1A, Class A1R, 3.55%, 05/21/27 (Call 05/21/19), (3 mo. LIBOR US + 0.900%)(a)(b)		18,600		18,518,445
OHA Credit Partners IX Ltd., Series 2013-9A, Class A1R, 3.77%, 10/20/25 (Call 04/20/19), (3 mo. LIBOR US + 1.010%)(a)(b)		696		695,391
OneMain Direct Auto Receivables Trust, 2.31%, 12/14/21 (Call 10/14/20)(a)		34,699		34,506,043
OZLM VIII Ltd., 3.63%, 10/17/29 (Call 10/17/20),
(3 mo. LIBOR US + 1.170%)(a)(b)		2,500		2,491,250

21

Schedule of Investments (unaudited) (continued)	iShares® Short Maturity Bond ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
Palmer Square Loan Funding Ltd.
3.32%, 01/20/27 (Call 01/20/20), (3 mo. LIBOR US + 0.850%)(a)(b)	$	36,000	$	35,823,236
Class A1, 3.43%, 11/15/26 (Call 11/15/19), (3 mo. LIBOR US + 0.900%)(a)(b)		13,000		12,927,953
PFS Financing Corp., Series 2017-C, Class A, 2.98%, 10/15/21, (1 mo. LIBOR US + 0.470%)(a)(b)		14,850		14,845,108
Regatta VI Funding Ltd., 3.84%, 07/20/28 (Call 07/20/19), (3 mo. LIBOR US + 1.080%)(a)(b)		15,130		15,010,007
Santander Drive Auto Receivables Trust, Series 2017-3, Class A3, 1.87%, 06/15/21 (Call 10/15/20)		6,929		6,917,090
SLM Private Credit Student Loan Trust,
Series 2005-A, Class A3, 2.99%, 06/15/23 (Call 03/15/28), (3 mo. LIBOR US + 0.200%)(b)		6,136		6,122,150
SLM Private Education Loan Trust
Series 2011-C, Class A2A, 5.76%, 10/17/44 (Call 12/15/20), (1 mo. LIBOR US + 3.250%)(a)(b)		517		523,783
Series 2013-A, Class A2B, 3.56%, 05/17/27 (Call 08/15/19), (1 mo. LIBOR US + 1.050%)(a)(b)		23		23,504
Series 2013-C, Class A2B, 3.91%, 10/15/31 (Call 03/15/21), (1 mo. LIBOR US + 1.400%)(a)(b)		5,713		5,732,412
SLM Student Loan Trust, Series 2011-2, Class A1, 3.11%, 11/25/27 (Call 10/25/31),
(1 mo. LIBOR US + 0.600%)(b)		398		399,679
SMB Private Education Loan Trust
Class A1, 2.81%, 09/15/25,
(1 mo. LIBOR US + 0.300%)(a)(b)		17,072		17,044,836
Class A1, 2.83%, 12/16/24,
(1 mo. LIBOR US + 0.320%)(a)(b)		4,554		4,551,651
Class A1, 2.86%, 03/16/26,
(1 mo. LIBOR US + 0.350%)(a)(b)		5,881		5,876,949
Series 2015-A, Class A2A, 2.49%, 06/15/27
(Call 04/15/27)(a)		9,631		9,522,948
Series 2017-A, Class A2B, 3.41%, 09/15/34,
(1 mo. LIBOR US + 0.900%)(a)(b)		30,000		30,019,005
Series 2017-B, Class A1, 2.78%, 06/17/24,
(1 mo. LIBOR US + 0.270%)(a)(b)		1,879		1,878,343
SoFi Professional Loan Program LLC
Series 16-C, Class A1, 3.61%, 10/27/36
(Call 09/25/24),
(1 mo. LIBOR US + 1.100%)(a)(b)		2,875		2,912,500
Series 2014-A, Class A1, 4.11%, 06/25/25
(Call 08/25/19),
(1 mo. LIBOR US + 1.600%)(a)(b)		182		182,726
Series 2014-B, Class A1, 3.76%, 08/25/32
(Call 07/25/20),
(1 mo. LIBOR US + 1.250%)(a)(b)		171		172,344
Series 2014-B, Class A2, 2.55%, 08/27/29
(Call 07/25/20)(a)		929		923,196
Series 2015-A, Class A1, 3.71%, 03/25/33
(Call 01/25/21),
(1 mo. LIBOR US + 1.200%)(a)(b)		468		470,059
Series 2015-B, Class A1, 3.56%, 04/25/35
(Call 05/25/22),
(1 mo. LIBOR US + 1.050%)(a)(b)		2,536		2,567,163

Security	Par (000)		Value
TCI-Flatiron CLO Ltd., Series 2016-1A, Class A,
4.32%, 07/17/28 (Call 04/17/19),
(3 mo. LIBOR US + 1.550%)(a)(b)	$	6,850	$	6,854,788
TICP CLO I Ltd., Series 2015-1A, Class AR, 3.56%, 07/20/27 (Call 04/20/19),
(3 mo. LIBOR US + 0.800%)(a)(b)		4,015		3,971,474
Toyota Auto Receivables, 1.32%, 11/15/21
(Call 04/15/20)		8,347		8,223,340
Treman Park CLO Ltd., Class ARR, 3.83%, 10/20/28 (Call 10/20/19),
(3 mo. LIBOR US + 1.070%)(a)(b)		21,750		21,678,586
Wheels SPV 2 LLC
Series 2015-1A, Class B, 1.88%, 04/20/26
(Call 01/20/21)(a)		1,098		1,089,893
Series 2016-1A, Class A2, 1.59%, 05/20/25
(Call 12/20/19)(a)		163		162,783
Total Asset-Backed Securities — 28.9% (Cost: $1,664,639,739)				1,661,717,094
Certificates of Deposit
Barclays Bank PLC 2.84%, 05/08/19		20,000		20,004,786
3.00%, 09/19/19		15,000		14,995,047
3.20%, 01/31/20		10,000		9,998,990
Commonwealth Bank of Australia/New York NY, 3.00%, 03/18/19,
(3 mo. LIBOR US + 0.200%)(b)		15,000		15,008,865
Credit Suisse AG/New York NY 2.81%, 05/01/19,
(3 mo. LIBOR US + 0.270%)(b)		16,000		16,007,567
3.11%, 03/14/19,
(3 mo. LIBOR US + 0.330%)(b)		15,000		15,006,000
Royal Bank of Canada/New York NY, 2.76%, 02/07/19, (3 mo. LIBOR US + 0.160%)(b)		15,000		15,000,138
Total Certificates of Deposit — 1.9% (Cost: $106,000,000)				106,021,393
Collaterized Mortgage Obligations
Mortgage-Backed Securities — 5.2%
Americold LLC, Series 2010-ARTA, Class A1, 3.85%, 01/14/29(a)		2,973		2,996,257
AOA Mortgage Trust, Class A, 2.96%, 12/13/29(a)		6,920		6,849,482
Aventura Mall Trust, Series 2013-AVM, Class A, 3.74%, 12/05/32(a)(b)		4,650		4,721,835
BAMLL Commercial Mortgage Securities Trust 3.36%, 09/15/34,
(1 mo. LIBOR US + 0.850%)(a)(b)		24,720		24,448,787
Series 2014-FL1, Class A, 3.91%, 12/15/31,
(1 mo. LIBOR US + 1.400%)(a)(b)		179		178,659
Bancorp Commercial Mortgage Trust, Class A, 3.41%, 09/15/35,
(1 mo. LIBOR US + 0.900%)(a)(b)		6,720		6,709,829
Bear Stearns Commercial Mortgage Securities Trust, Series 2005-PW10, Class AJ, 5.59%, 12/11/40(b)		5,481		5,652,759
BSPRT Issuer Ltd., Series 2017-FL2, Class A, 3.33%, 10/15/34,
(1 mo. LIBOR US + 0.820%)(a)(b)(c)		380		376,084

22

Schedule of Investments (unaudited) (continued)	iShares® Short Maturity Bond ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
Mortgage-Backed Securities (continued)
BX Commercial Mortgage Trust
Class A, 3.18%, 03/15/37,
(1 mo. LIBOR US + 0.671%)(a)(b)	$	23,190	$	22,855,707
Class A, 3.26%, 11/15/35,
(1 mo. LIBOR US + 0.750%)(a)(b)		9,985		9,933,133
CGDBB Commercial Mortgage Trust, 3.30%, 07/15/32, (1 mo. LIBOR + 0.790%)(a)(b)		13,300		13,224,887
COMM Mortgage Trust
Series 2014-PAT, Class A, 3.31%, 08/13/27,
(1 mo. LIBOR US + 0.800%)(a)(b)		13,570		13,561,289
Series 2014-TWC, Class A, 3.37%, 02/13/32,
(1 mo. LIBOR US + 0.850%)(a)(b)		11,305		11,305,010
Commission Mortgage Trust, Series 2013-CR6,
Class A3FL, 3.15%, 03/10/46,
(1 mo. LIBOR US + 0.630%)(a)(b)		9,659		9,620,175
Four Times Square Trust Commercial Mortgage
Pass-Through Certificates, Series 2006-4TS,
Class A, 5.40%, 12/13/28(a)		11,048		11,413,118
Gosforth Funding PLC, Class A1, 3.14%, 08/25/60
(Call 08/25/23),
(3 mo. LIBOR US + 0.450%)(a)(b)		10,887		10,844,285
GPMT Ltd., Series 2018-FL1, Class A, 3.41%, 11/21/35, (1 mo. LIBOR US + 0.900%)(a)(b)		11,022		10,958,222
GS Mortgage Securities Corp. 3.46%, 11/15/35,
(1 mo. LIBOR US + 0.950%)(a)(b)		26,015		26,048,224
3.51%, 11/15/32,
(1 mo. LIBOR US + 1.000%)(a)(b)		7,600		7,570,979
GS Mortgage Securities Corp. II, Series 2013-KING, Class A, 2.71%, 12/10/27(a)		1,788		1,778,993
Hospitality Mortgage Trust, Series 2017-HIT,
Class A, 3.37%, 05/08/30,
(1 mo. LIBOR US + 0.850%)(a)(b)		4,990		4,969,586
InTown Hotel Portfolio Trust, Series 2018-STAY,
Class A, 3.21%, 01/15/33,
(1 mo. LIBOR US + 0.700%)(a)(b)		4,480		4,433,544
LMREC Inc., Series 2016-CRE2, Class A, 4.21%, 11/24/31, (1 mo. LIBOR US + 1.700%)(a)(b)		3,203		3,203,322
Madison Avenue Trust, Series 2013-650M,
Class A, 3.84%, 10/12/32(a)		2,060		2,083,104
Morgan Stanley Capital I Trust
Class A, 3.35%, 07/13/29(a)		14,480		14,544,698
Class A, 3.36%, 08/15/33,
(1 mo. LIBOR US + 0.850%)(a)(b)		6,860		6,786,901
Series 2017-CLS, Class A, 3.21%, 11/15/34,
(1 mo. LIBOR US + 0.700%)(a)(b)		9,512		9,395,658
Natixis Commercial Mortgage Securities Trust,
Series 2018-RIVA, Class A, 3.26%, 02/15/33,
(1 mo. LIBOR US + 0.750%)(a)(b)		7,500		7,412,999
Resource Capital Corp., Series 2017-CRE5,
Class A, 3.31%, 07/15/34,
(1 mo. LIBOR US + 0.800%)(a)(b)		847		838,915
VNDO Mortgage Trust, Series 2013-PENN,
Class A, 3.81%, 12/13/29(a)		5,200		5,255,788
Wells Fargo Commercial Mortgage Trust, 3.26%, 12/15/34, (1 mo. LIBOR US + 0.750%)(a)(b)		17,280		17,101,140

Security	Par (000)		Value
Mortgage-Backed Securities (continued)
WFRBS Commercial Mortgage Trust, Series 2012-C8, Class AFL, 3.51%, 08/15/45,
(1 mo. LIBOR US + 1.000%)(a)(b)	$	23,192	$	23,477,238
Total Collaterized Mortgage Obligations — 5.2% (Cost: $302,422,736)				300,550,607
Commercial Paper
AstraZeneca PLC, 2.90%, 07/23/19(d)		8,000		7,890,010
Banco Santander SA, 2.84%, 04/18/19(d)		20,000		19,879,324
Boston Scientific Corp., 3.01%, 04/22/19(d)		15,000		14,899,155
Enbridge Inc., 2.78%, 02/11/19(d)		23,250		23,230,250
Energy Transfer Partners LP, 3.12%, 03/18/19(d)		30,000		29,880,707
Ford Motor Credit Co. LLC, 3.21%, 04/01/19(d)		23,000		22,877,717
Glencore Funding LLC
3.19%, 03/18/19(d)		20,000		19,927,857
3.24%, 04/10/19(d)		15,000		14,916,280
HSBC Bank PLC, 3.06%, 03/27/19,
(3 mo. LIBOR US + 0.240%)(a)(b)		9,000		9,002,936
Keurig Dr Pepper Inc., 2.89%, 03/08/19(d)		20,000		19,942,400
Mondelez International Inc., 2.99%, 04/09/19(d)		15,000		14,915,822
Toronto-Dominion Bank (The), 2.79%, 02/08/19,
(1 mo. LIBOR US + 0.270%)(a)(b)		15,000		15,001,215
Walgreens Boots Alliance Inc., 3.05%, 05/09/19(d)		20,900		20,727,780
Total Commercial Paper — 4.1% (Cost: $233,066,279)				233,091,453
Corporate Bonds & Notes
Advertising — 0.3%
Interpublic Group of Companies Inc. (The), 3.50%, 10/01/20		4,465		4,488,203
Omnicom Group Inc./Omnicom Capital Inc., 6.25%, 07/15/19(e)		10,000		10,141,590
				14,629,793
Aerospace & Defense — 1.2%
Lockheed Martin Corp., 4.25%, 11/15/19		16,004		16,200,577
Northrop Grumman Corp., 2.08%, 10/15/20(e)		15,000		14,824,473
United Technologies Corp. 1.90%, 05/04/20(e)		15,000		14,798,185
3.28%, 08/16/21 (Call 08/16/19),
(3 mo. LIBOR US + 0.650%)(b)(e)		21,865		21,865,393
				67,688,628
Agriculture — 1.2%
BAT Capital Corp. 2.30%, 08/14/20		30,000		29,593,371
3.20%, 08/14/20, (3 mo. LIBOR US + 0.59%)(b)		24,000		23,772,898
Imperial Brands Finance PLC, 2.95%, 07/21/20(a)(e)		15,000		14,847,310
				68,213,579
Auto Manufacturers — 4.1%
American Honda Finance Corp., 3.05%, 06/16/20,
(3 mo. LIBOR US + 0.260%)(b)		10,000		9,995,925
BMW U.S. Capital LLC 3.18%, 04/06/20,
(3 mo. LIBOR US + 0.380%)(a)(b)		4,415		4,411,336
3.25%, 08/14/20(a)(e)		13,665		13,755,027

23

Schedule of Investments (unaudited) (continued)	iShares® Short Maturity Bond ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
Auto Manufacturers (continued)
Daimler Finance North America LLC 3.05%, 02/12/21,
(3 mo. LIBOR US + 0.430%)(a)(b)	$	5,000	$	4,954,346
3.11%, 05/05/20,
(3 mo. LIBOR US + 0.530%)(a)(b)		15,500		15,454,833
3.54%, 07/05/19,
(3 mo. LIBOR US + 0.740%)(a)(b)		3,500		3,505,128
Ford Motor Credit Co. LLC 2.60%, 11/04/19(e)		15,000		14,921,530
2.68%, 01/09/20(e)		10,000		9,898,009
2.99%, 11/02/20,
(3 mo. LIBOR US + 0.430%)(b)(e)		17,000		16,564,970
3.16%, 08/04/20		20,000		19,675,085
General Motors Financial Co. Inc. 3.20%, 07/13/20 (Call 06/13/20)		50,000		49,857,266
3.50%, 07/10/19		15,000		15,014,761
3.65%, 04/09/21,
(3 mo. LIBOR US + 0.850%)(b)		10,000		9,868,321
Hyundai Capital America 3.61%, 04/03/20,
(3 mo. LIBOR US + 0.800%)(a)(b)		6,890		6,872,224
3.80%, 09/18/20,
(3 mo. LIBOR US + 1.000%)(a)(b)		3,000		2,995,115
Nissan Motor Acceptance Corp. 3.38%, 01/13/20,
(3 mo. LIBOR US + 0.580%)(a)(b)		15,000		14,978,026
3.45%, 07/13/22,
(3 mo. LIBOR US + 0.650%)(a)(b)		12,500		12,187,822
Volkswagen Group of America Finance LLC, 2.13%, 05/23/19(a)		12,500		12,462,226
				237,371,950
Banks — 20.5%
Australia & New Zealand Banking Group Ltd., 3.14%, 08/19/20, (3 mo. LIBOR US + 0.500%)(a)(b)		19,745		19,803,391
Australia & New Zealand Banking Group Ltd./New York NY, 2.70%, 11/16/20		15,000		14,910,370
Banco Santander SA, 3.92%, 04/12/23,
(3 mo. LIBOR US + 1.120%)(b)		10,000		9,874,900
Bank of America Corp. 3.42%, 07/21/21 (Call 07/21/20),
(3 mo. LIBOR US + 0.660%)(b)(e)		25,500		25,592,090
3.45%, 10/01/21 (Call 10/01/20),
(3 mo. LIBOR US + 0.650%)(b)		7,500		7,522,778
3.78%, 04/24/23 (Call 04/24/22),
(3 mo. LIBOR US + 1.000%)(b)(e)		7,500		7,517,483
3.92%, 01/20/23 (Call 01/20/22),
(3 mo. LIBOR US + 1.160%)(b)		25,000		25,196,944
7.63%, 06/01/19		10,000		10,152,313
Series L, 2.25%, 04/21/20(e)		2,000		1,987,668
Bank of Montreal 3.02%, 09/11/19,
(3 mo. LIBOR US + 0.250%)(b)		3,350		3,351,776
3.38%, 12/12/19,
(3 mo. LIBOR US + 0.600%)(b)		10,185		10,227,127
3.43%, 07/18/19,
(3 mo. LIBOR US + 0.650%)(b)		3,500		3,509,912
3.48%, 08/27/21,
(3 mo. LIBOR US + 0.790%)(b)		7,000		7,056,646

Security	Par (000)		Value
Banks (continued)
Bank of Nova Scotia (The), 3.42%, 09/19/22,
(3 mo. LIBOR US + 0.620%)(b)	$	10,000	$	9,991,700
Bank of Tokyo-Mitsubishi UFJ Ltd. (The), 3.22%, 09/09/19, (3 mo. LIBOR US + 0.450%)(b)		6,000		6,012,351
Banque Federative du Credit Mutuel SA 2.20%, 07/20/20(a)		10,000		9,869,059
3.25%, 07/20/20,
(3 mo. LIBOR US + 0.490%)(a)(b)		3,215		3,219,961
Barclays PLC, 2.75%, 11/08/19		35,085		34,964,308
BB&T Corp., 3.36%, 06/15/20,
(3 mo. LIBOR US + 0.570%)(b)		9,403		9,425,960
BNP Paribas SA, 2.38%, 05/21/20		15,000		14,896,757
Capital One N.A., 3.90%, 01/30/23 (Call 01/30/22),
(3 mo. LIBOR US + 1.150%)(b)		8,000		7,982,638
Citibank N.A., 3.28%, 06/12/20,
(3 mo. LIBOR US + 0.500%)(b)		7,060		7,067,299
Citigroup Inc. 2.05%, 06/07/19		10,000		9,974,410
2.45%, 01/10/20 (Call 12/10/19)		10,000		9,954,977
2.50%, 07/29/19		10,000		9,982,689
2.65%, 10/26/20(e)		25,000		24,815,983
3.45%, 10/27/22 (Call 09/27/22),
(3 mo. LIBOR US + 0.690%)(b)		10,000		9,927,200
3.57%, 01/10/20 (Call 12/10/19),
(3 mo. LIBOR US + 0.790%)(b)(e)		8,286		8,327,184
Citizens Bank N.A./Providence RI, 3.26%, 05/26/20, (3 mo. LIBOR US + 0.570%)(b)		8,710		8,715,832
Commonwealth Bank of Australia/New York NY 2.30%, 03/12/20(e)		15,000		14,909,598
2.40%, 11/02/20		20,000		19,788,400
Cooperatieve Rabobank UA, 3.68%, 09/26/23,
(3 mo. LIBOR US + 0.860%)(a)(b)		10,000		9,892,528
Credit Suisse Group Funding Guernsey Ltd., 2.75%, 03/26/20		19,000		18,890,311
Danske Bank A/S 2.75%, 09/17/20(a)(e)		20,000		19,513,409
3.25%, 03/02/20,
(3 mo. LIBOR US + 0.510%)(a)(b)		2,500		2,478,103
Deutsche Bank AG/London, 2.50%, 02/13/19(e)		7,000		6,997,488
Deutsche Bank AG/New York NY 3.58%, 01/22/21,
(3 mo. LIBOR US + 0.815%)(b)		5,000		4,859,797
4.25%, 02/04/21(e)		9,905		9,826,781
Discover Bank, 3.10%, 06/04/20 (Call 05/04/20)		20,000		19,951,744
Fifth Third Bancorp., 2.88%, 07/27/20
(Call 06/27/20)(e)		10,000		9,987,666
Fifth Third Bank/Cincinnati OH, 3.00%, 10/30/20
(Call 09/30/20), (3 mo. LIBOR US + 0.250%)(b)		10,000		9,949,585
Goldman Sachs Group Inc. (The) 2.55%, 10/23/19(e)		10,000		9,975,320
3.52%, 10/31/22 (Call 10/31/21),
(3 mo. LIBOR US + 0.780%)(b)		4,000		3,963,680
3.78%, 07/24/23 (Call 07/24/22),
(3 mo. LIBOR US + 1.000%)(b)(e)		5,000		4,959,464
3.80%, 06/05/23 (Call 06/05/22),
(3 mo. LIBOR US + 1.050%)(b)(e)		15,000		14,923,270
3.87%, 04/26/22 (Call 04/26/21),
(3 mo. LIBOR US + 1.110%)(b)(e)		15,000		15,056,220
3.99%, 09/15/20 (Call 08/15/20),
(3 mo. LIBOR US + 1.200%)(b)		1,750		1,767,136

24

Schedule of Investments (unaudited) (continued)	iShares® Short Maturity Bond ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
Banks (continued)
4.13%, 04/23/21 (Call 03/23/21),
(3 mo. LIBOR US + 1.360%)(b)	$	7,000	$	7,096,249
4.46%, 02/25/21,
(3 mo. LIBOR US + 1.770%)(b)(e)		10,000		10,240,269
HSBC Bank PLC, 4.13%, 08/12/20(a)(e)		10,000		10,142,499
HSBC Holdings PLC 3.24%, 05/18/21 (Call 05/18/20),
(3 mo. LIBOR US + 0.600%)(b)(e)		24,695		24,640,515
4.35%, 05/25/21,
(3 mo. LIBOR US + 1.660%)(b)(e)		10,000		10,210,398
5.01%, 03/08/21,
(3 mo. LIBOR US + 2.240%)(b)		6,815		7,037,753
HSBC USA Inc., 2.35%, 03/05/20		15,000		14,906,668
Huntington National Bank (The) 2.20%, 04/01/19 (Call 03/25/19)		7,500		7,492,993
3.28%, 03/10/20,
(3 mo. LIBOR US + 0.510%)(b)		10,000		10,026,969
ING Bank NV, 3.23%, 08/15/19,
(3 mo. LIBOR US + 0.610%)(a)(b)		3,000		3,005,366
Intesa Sanpaolo SpA/New York NY, 3.40%, 07/17/19, (3 mo. LIBOR US + 0.630%)(b)		6,990		6,991,516
JPMorgan Chase & Co. 2.25%, 01/23/20 (Call 12/23/19)		4,000		3,974,749
3.32%, 03/09/21 (Call 03/09/20),
(3 mo. LIBOR US + 0.550%)(b)(e)		10,000		10,015,757
3.41%, 06/18/22 (Call 06/18/21),
(3 mo. LIBOR US + 0.610%)(b)		12,500		12,440,141
3.42%, 06/01/21 (Call 06/01/20),
(3 mo. LIBOR US + 0.680%)(b)		19,985		20,034,323
3.67%, 04/25/23 (Call 04/25/22),
(3 mo. LIBOR US + 0.900%)(b)(e)		10,000		9,969,545
3.79%, 01/15/23 (Call 01/15/22),
(3 mo. LIBOR US + 1.000%)(b)		15,000		15,058,369
4.25%, 10/15/20		10,000		10,201,351
Lloyds Bank PLC, 2.70%, 08/17/20(e)		20,000		19,888,940
Mitsubishi UFJ Financial Group Inc., 3.41%, 07/26/21, (3 mo. LIBOR US + 0.650%)(b)(e)		10,000		9,999,982
Mizuho Financial Group Inc. 3.54%, 03/05/23,
(3 mo. LIBOR US + 0.790%)(b)(e)		3,000		2,983,620
3.92%, 09/13/21,
(3 mo. LIBOR US + 1.140%)(b)		20,000		20,200,000
Morgan Stanley 2.80%, 06/16/20		10,000		9,984,968
3.90%, 01/27/20,
(3 mo. LIBOR US + 1.140%)(b)(e)		3,000		3,021,863
3.94%, 01/20/22 (Call 01/20/21),
(3 mo. LIBOR US + 1.180%)(b)(e)		30,000		30,283,680
4.18%, 10/24/23 (Call 10/24/22),
(3 mo. LIBOR US + 1.400%)(b)(e)		10,000		10,127,753
7.30%, 05/13/19		10,000		10,123,081
Series 3NC2, 3.41%, 02/14/20 (Call 02/14/19),
(3 mo. LIBOR US + 0.800%)(b)		34,740		34,740,000
MUFG Bank Ltd. 2.35%, 09/08/19(a)		10,000		9,974,076
3.27%, 01/25/21,
(3 mo. LIBOR US + 0.500%)(b)		15,000		14,999,952
National Australia Bank Ltd., 3.19%, 05/22/20,
(3 mo. LIBOR US + 0.510%)(a)(b)		10,000		10,038,400

Security	Par (000)		Value
Banks (continued)
Nordea Bank Abp 3.18%, 05/29/20,
(3 mo. LIBOR US + 0.470%)(a)(b)	$	15,000	$	15,045,539
3.65%, 08/30/23,
(3 mo. LIBOR US + 0.940%)(a)(b)		15,000		14,756,652
Royal Bank of Canada, 3.12%, 03/02/20,
(3 mo. LIBOR US + 0.380%)(b)		5,000		5,010,516
Santander UK Group Holdings PLC, 2.88%, 10/16/20(e)		10,000		9,909,230
Santander UK PLC, 2.35%, 09/10/19		10,000		9,965,084
Skandinaviska Enskilda Banken AB 2.63%, 11/17/20(a)(e)		20,000		19,788,240
3.07%, 05/17/21,
(3 mo. LIBOR US + 0.430%)(a)(b)(e)		10,000		9,973,110
Sumitomo Mitsui Banking Corp., 2.45%, 01/16/20		10,000		9,959,335
Sumitomo Mitsui Trust Bank Ltd., 3.69%, 10/18/19,
(3 mo. LIBOR US + 0.910%)(a)(b)		4,400		4,416,895
SunTrust Bank/Atlanta GA, 3.26%, 10/26/21
(Call 10/26/20), (3 mo. LIBOR US + 0.500%)(b)		32,020		31,856,378
Svenska Handelsbanken AB 2.25%, 06/17/19		4,350		4,342,501
3.13%, 09/08/20,
(3 mo. LIBOR US + 0.360%)(b)		5,000		5,001,913
3.16%, 05/24/21,
(3 mo. LIBOR US + 0.470%)(b)		12,500		12,515,567
U.S. Bank N.A./Cincinnati OH, 2.05%, 10/23/20
(Call 09/23/20)		10,000		9,863,486
UBS AG/London 2.45%, 12/01/20 (Call 11/01/20)(a)		15,000		14,795,820
3.22%, 12/01/20 (Call 11/01/20),
(3 mo. LIBOR US + 0.480%)(a)(b)		5,000		4,991,690
3.35%, 06/08/20 (Call 05/08/20),
(3 mo. LIBOR US + 0.580%)(a)(b)(e)		5,300		5,312,948
UBS AG/Stamford CT, 2.38%, 08/14/19		15,000		14,974,974
UBS Group Funding Switzerland AG, 3.87%, 05/23/23 (Call 05/23/22),
(3 mo. LIBOR US + 1.220%)(a)(b)		20,000		20,001,896
Wells Fargo & Co. 2.55%, 12/07/20(e)		15,000		14,888,467
3.64%, 07/22/20,
(3 mo. LIBOR US + 0.880%)(b)		5,000		5,024,893
4.08%, 03/04/21,
(3 mo. LIBOR US + 1.340%)(b)		10,000		10,170,000
Wells Fargo Bank N.A., 3.27%, 07/23/21
(Call 07/23/20), (3 mo. LIBOR US + 0.500%)(b)		15,000		14,990,388
				1,176,929,473
Beverages — 0.3%
Anheuser-Busch InBev Finance Inc., 2.65%, 02/01/21 (Call 01/01/21)		7,326		7,295,914
Molson Coors Brewing Co., 1.90%, 03/15/19(e)		9,425		9,412,487
				16,708,401
Biotechnology — 0.6%
Amgen Inc. 2.20%, 05/22/19 (Call 04/22/19)		3,000		2,994,176
3.06%, 05/11/20,
(3 mo. LIBOR US + 0.450%)(b)(e)		8,100		8,119,327
5.70%, 02/01/19(e)		4,000		4,000,000

25

Schedule of Investments (unaudited) (continued)	iShares® Short Maturity Bond ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
Biotechnology (continued)
Gilead Sciences Inc. 1.85%, 09/20/19	$	12,100	$	12,033,909
2.55%, 09/01/20		10,000		9,943,339
				37,090,751
Chemicals — 1.6%
DowDuPont Inc., 3.42%, 11/15/20,
(3 mo. LIBOR US + 0.710%)(b)(e)		47,500		47,749,707
EI du Pont de Nemours & Co., 3.07%, 05/01/20,
(3 mo. LIBOR US + 0.530%)(b)		6,015		6,032,002
PPG Industries Inc., 2.30%, 11/15/19
(Call 10/15/19)		10,868		10,817,669
Sherwin-Williams Co. (The), 2.25%, 05/15/20		30,000		29,676,837
				94,276,215
Computers — 0.7%
Hewlett Packard Enterprise Co. 3.52%, 10/05/21 (Call 09/20/19),
(3 mo. LIBOR US + 0.720%)(b)		20,000		19,856,574
3.60%, 10/15/20 (Call 09/15/20)(f)		10,000		10,062,157
IBM Credit LLC, 3.18%, 11/30/20,
(3 mo. LIBOR US + 0.470%)(b)(e)		7,250		7,272,542
				37,191,273
Diversified Financial Services — 3.1%
AerCap Ireland Capital DAC/AerCap Global
Aviation Trust 3.75%, 05/15/19(e)		7,771		7,784,819
4.25%, 07/01/20(e)		10,000		10,024,013
4.63%, 10/30/20		20,000		20,237,513
AIG Global Funding, 3.28%, 07/02/20,
(3 mo. LIBOR US + 0.480%)(a)(b)		3,695		3,701,236
American Express Co. 3.08%, 10/30/20 (Call 09/29/20),
(3 mo. LIBOR US + 0.330%)(b)		7,750		7,741,050
3.19%, 11/05/21 (Call 10/05/21),
(3 mo. LIBOR US + 0.60%)(b)(e)		10,000		10,020,141
3.34%, 02/27/23 (Call 01/27/23),
(3 mo. LIBOR US + 0.650%)(b)		4,000		3,954,669
American Express Credit Corp., 3.17%, 03/03/20
(Call 02/03/20), (3 mo. LIBOR US + 0.430%)(b)		10,000		10,016,156
Capital One Financial Corp. 3.20%, 10/30/20 (Call 09/30/20),
(3 mo. LIBOR US + 0.450%)(b)(e)		5,000		4,967,343
3.38%, 05/12/20 (Call 04/12/20),
(3 mo. LIBOR US + 0.760%)(b)		25,505		25,591,912
Federation des Caisses Desjardins du Quebec, 2.25%, 10/30/20(a)		15,000		14,812,178
GE Capital International Funding Co. Unlimited Co., 2.34%, 11/15/20		25,000		24,409,557
Horsepower Finance Ltd., 2.15%, 12/02/19(g)		10,000		9,891,069
International Lease Finance Corp. 5.88%, 04/01/19		3,225		3,236,603
6.25%, 05/15/19		23,238		23,436,144
				179,824,403
Electric — 1.0%
Duke Energy Florida LLC, 1.85%, 01/15/20		8,000		7,929,046
Duke Energy Progress LLC, 2.95%, 09/08/20,
(3 mo. LIBOR US + 0.180%)(b)(e)		9,835		9,814,052
Exelon Generation Co. LLC, 2.95%, 01/15/20
(Call 12/15/19)		30,000		29,925,036

Security	Par (000)		Value
Electric (continued)
NextEra Energy Capital Holdings Inc., 2.30%, 04/01/19	$	5,000	$	4,996,303
Sempra Energy, 3.29%, 01/15/21 (Call 03/04/19),
(3 mo. LIBOR US + 0.500%)(b)		5,065		4,996,411
				57,660,848
Electronics — 0.3%
Tyco Electronics Group SA, 3.20%, 06/05/20,
(3 mo. LIBOR US + 0.450%)(b)		15,000		14,984,783
Environmental Control — 0.1%
Republic Services Inc., 5.50%, 09/15/19		7,964		8,083,278
Food — 1.9%
Campbell Soup Co., 3.42%, 03/15/21,
(3 mo. LIBOR US + 0.630%)(b)		15,000		14,850,578
Conagra Brands Inc. 3.30%, 10/09/20,
(3 mo. LIBOR US + 0.500%)(b)		7,000		6,942,180
3.51%, 10/22/20 (Call 10/22/19),
(3 mo. LIBOR US + 0.750%)(b)		9,945		9,895,665
General Mills Inc., 3.32%, 04/16/21,
(3 mo. LIBOR US + 0.540%)(b)(e)		26,636		26,431,019
Kraft Heinz Foods Co. 3.02%, 08/09/19,
(3 mo. LIBOR US + 0.420%)(b)		12,000		11,992,494
3.19%, 02/10/21,
(3 mo. LIBOR US + 0.570%)(b)		4,010		3,976,158
Mondelez International Holdings Netherlands BV, 1.63%, 10/28/19 (Call 09/28/19)(a)		7,500		7,423,066
Tyson Foods Inc. 2.65%, 08/15/19 (Call 07/15/19)		4,590		4,582,475
3.10%, 08/21/20,
(3 mo. LIBOR US + 0.450%)(b)		14,160		14,001,257
3.29%, 06/02/20,
(3 mo. LIBOR US + 0.550%)(b)		5,475		5,456,396
Wm Wrigley Jr Co., 2.90%, 10/21/19
(Call 09/21/19)(a)		3,500		3,502,100
				109,053,388
Health Care - Products — 0.7%
Becton Dickinson and Co. 2.68%, 12/15/19		5,000		4,977,789
3.68%, 12/29/20 (Call 03/04/19),
(3 mo. LIBOR US + 0.875%)(b)		28,505		28,379,316
Medtronic Inc., 3.59%, 03/15/20,
(3 mo. LIBOR US + 0.800%)(b)		5,312		5,350,631
Stryker Corp., 2.00%, 03/08/19(e)		1,115		1,114,498
				39,822,234
Health Care - Services — 0.2%
UnitedHealth Group Inc., 2.70%, 07/15/20		10,000		9,996,076
Housewares — 0.1%
Newell Brands Inc., 2.60%, 03/29/19		7,000		6,992,779
Insurance — 0.9%
Allstate Corp. (The), 3.23%, 03/29/21,
(3 mo. LIBOR US + 0.430%)(b)		5,710		5,675,664
American International Group Inc., 3.38%, 08/15/20		2,997		3,011,005
Marsh & McLennan Companies Inc., 3.91%, 12/29/21 (Call 12/29/19), (3 mo. LIBOR US + 1.200%)(b)		13,380		13,401,083

26

Schedule of Investments (unaudited) (continued)	iShares® Short Maturity Bond ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
Insurance (continued)
Metropolitan Life Global Funding I, 2.30%, 04/10/19(a)	$	19,915	$	19,902,949
Pricoa Global Funding I, 2.20%, 05/16/19(a)		10,905		10,891,266
				52,881,967
Machinery — 0.4%
Caterpillar Financial Services Corp., 3.13%, 05/15/23, (3 mo. LIBOR US + 0.510%)(b)		10,000		9,884,373
John Deere Capital Corp. 3.08%, 03/13/20,
(3 mo. LIBOR US + 0.300%)(b)(e)		6,000		6,004,743
3.11%, 06/22/20,
(3 mo. LIBOR US + 0.290%)(b)(e)		6,000		6,011,708
				21,900,824
Manufacturing — 0.2%
Siemens Financieringsmaatschappij NV 2.15%, 05/27/20(a)		10,000		9,909,107
3.13%, 03/16/20,
(3 mo. LIBOR US + 0.340%)(a)(b)		2,000		2,001,399
				11,910,506
Media — 2.1%
Charter Communications Operating LLC/Charter Communications Operating Capital, 3.58%, 07/23/20 (Call 06/23/20)		35,000		35,090,351
Comcast Corp., 3.24%, 10/01/21,
(3 mo. LIBOR US + 0.440%)(b)		42,930		42,963,915
Discovery Communications LLC, 3.50%, 09/20/19,
(3 mo. LIBOR US + 0.710%)(b)		30,000		30,014,289
Sky Ltd., 2.63%, 09/16/19(a)(e)		1,425		1,417,956
Time Warner Cable LLC, 8.25%, 04/01/19(e)		1,950		1,966,030
Warner Media LLC, 2.10%, 06/01/19		10,000		9,972,024
				121,424,565
Oil & Gas — 0.6%
Chevron Corp. 2.43%, 06/24/20 (Call 05/24/20)(e)		10,000		9,987,388
2.95%, 03/03/20,
(3 mo. LIBOR US + 0.210%)(b)		6,500		6,506,346
Phillips 66, 3.54%, 04/15/20 (Call 03/04/19),
(3 mo. LIBOR US + 0.750%)(a)(b)(e)		5,625		5,625,296
Sinopec Group Overseas Development 2014 Ltd., 2.75%, 04/10/19(g)		12,000		11,991,120
				34,110,150
Pharmaceuticals — 5.5%
AbbVie Inc., 2.50%, 05/14/20 (Call 04/14/20)		42,500		42,246,612
Allergan Funding SCS 3.00%, 03/12/20 (Call 02/12/20)		50,500		50,458,199
4.03%, 03/12/20,
(3 mo. LIBOR US + 1.255%)(b)		20,505		20,662,569
AstraZeneca PLC, 1.95%, 09/18/19		6,500		6,458,048
Bayer U.S. Finance II LLC, 3.45%, 06/25/21
(Call 05/25/21),
(3 mo. LIBOR US + 0.630%)(a)(b)		25,000		24,736,900
Cigna Corp., 3.20%, 09/17/20(a)(e)		30,000		30,037,384
CVS Health Corp. 2.25%, 08/12/19 (Call 07/12/19)		3,000		2,990,139
2.80%, 07/20/20 (Call 06/20/20)(e)		55,000		54,756,522
3.13%, 03/09/20(e)		12,430		12,439,854
3.40%, 03/09/20,
(3 mo. LIBOR US + 0.630%)(b)		5,318		5,329,024

Security	Par (000)		Value
Pharmaceuticals (continued)
3.49%, 03/09/21,
(3 mo. LIBOR US + 0.720%)(b)(e)	$	10,000	$	10,017,602
Shire Acquisitions Investments Ireland DAC, 1.90%, 09/23/19		50,000		49,611,000
Takeda Pharmaceutical Co. Ltd., 3.80%, 11/26/20(a)		7,035		7,108,462
				316,852,315
Pipelines — 2.7%
Andeavor Logistics LP/Tesoro Logistics Finance Corp., 6.25%, 10/15/22 (Call 03/11/19)		2,000		2,050,000
Enbridge Inc., 3.18%, 01/10/20,
(3 mo. LIBOR US + 0.400%)(b)		5,230		5,206,871
Energy Transfer Operating LP, 4.15%, 10/01/20
(Call 08/01/20)		15,000		15,147,040
Enterprise Products Operating LLC 2.55%, 10/15/19 (Call 09/15/19)		20,000		19,963,042
5.20%, 09/01/20		10,000		10,327,126
Kinder Morgan Inc./DE, 4.07%, 01/15/23,
(3 mo. LIBOR US + 1.280%)(b)		20,000		19,936,077
Spectra Energy Partners LP, 3.45%, 06/05/20,
(3 mo. LIBOR US + 0.700%)(b)		32,000		31,797,470
TransCanada PipeLines Ltd., 2.13%, 11/15/19		37,540		37,310,028
Williams Companies Inc. (The), 5.25%, 03/15/20		15,000		15,354,194
				157,091,848
Real Estate Investment Trusts — 0.2%
American Tower Corp., 3.40%, 02/15/19		10,000		9,999,581
Retail — 0.2%
Alimentation Couche-Tard Inc., 3.28%, 12/13/19
(Call 03/04/19),
(3 mo. LIBOR US + 0.500%)(a)(b)(e)		8,600		8,597,211
Walgreens Boots Alliance Inc., 2.70%, 11/18/19
(Call 10/18/19)		3,058		3,054,609
				11,651,820
Semiconductors — 0.9%
Broadcom Corp./Broadcom Cayman Finance Ltd. 2.20%, 01/15/21(e)		10,000		9,755,447
2.38%, 01/15/20		5,900		5,854,320
Intel Corp., 2.70%, 05/11/20,
(3 mo. LIBOR US + 0.080%)(b)		13,700		13,700,548
QUALCOMM Inc. 2.25%, 05/20/20(e)		10,000		9,934,146
3.48%, 01/30/23,
(3 mo. LIBOR US + 0.730%)(b)		10,000		9,911,364
				49,155,825
Software — 0.2%
Fidelity National Information Services Inc., 3.63%, 10/15/20 (Call 09/15/20)		10,000		10,065,757
Telecommunications — 1.9%
AT&T Inc. 2.45%, 06/30/20 (Call 05/30/20)		20,000		19,868,570
3.49%, 06/01/21,
(3 mo. LIBOR US + 0.750%)(b)		13,250		13,246,466
3.74%, 07/15/21,
(3 mo. LIBOR US + 0.950%)(b)		10,000		10,040,837
Deutsche Telekom International Finance BV 2.23%, 01/17/20(a)(e)		13,687		13,623,312
3.35%, 01/17/20,
(3 mo. LIBOR US + 0.580%)(a)(b)		12,000		12,016,597

27

Schedule of Investments (unaudited) (continued)	iShares® Short Maturity Bond ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
Telecommunications (continued)
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC, 3.36%, 09/20/21(a)(e)	$	6,395	$	6,359,952
Verizon Communications Inc. 3.20%, 05/22/20,
(3 mo. LIBOR US + 0.550%)(b)		22,940		23,014,788
3.79%, 03/16/22,
(3 mo. LIBOR US + 1.000%)(b)		10,000		10,100,923
				108,271,445
Transportation — 0.1%
United Parcel Service Inc., 2.95%, 04/01/21,
(3 mo. LIBOR US + 0.150%)(b)		7,500		7,468,844
Trucking & Leasing — 0.8%
Aviation Capital Group LLC, 3.42%, 07/30/21,
(3 mo. LIBOR US + 0.670%)(a)(b)		15,000		14,896,071
Penske Truck Leasing Co. LP/PTL Finance Corp. 2.50%, 06/15/19 (Call 05/15/19)(a)		23,030		22,984,286
3.20%, 07/15/20 (Call 06/15/20)(a)		10,000		9,981,978
				47,862,335
Total Corporate Bonds & Notes — 54.6% (Cost: $3,143,928,712)				3,137,165,634
Foreign Government Obligations
Mexico — 1.9%
Mexico Cetes 2.42%, 02/07/19(d)	MXN	80,050		4,204,799
5.49%, 02/14/19(d)	MXN	1,580,000		82,652,477
7.02%, 02/28/19(d)	MXN	334,091		17,422,433
7.68%, 03/21/19(d)	MXN	80,065		4,155,474
				108,435,183
Total Foreign Government Obligations — 1.9% (Cost: $107,884,409)				108,435,183
Repurchase Agreements
Mizuho Securities USA Inc., 3.29%, 02/01/19
(Purchased on 01/31/19 to be repurchased at $30,002,745, collateralized by non-agency mortgage-backed security, 2.92% to 3.49%, due 06/25/35 to 04/25/37, par and fair value of $43,019,001 and $34,500,001, respectively)(b)(h)		30,000		30,000,000
Total Repurchase Agreements — 0.5% (Cost: $30,000,000)				30,000,000
U.S. Government & Agency Obligations
Mortgage-Backed Securities — 0.3%
Federal National Mortgage Association 5.00% 01/01/20		314		319,466

Security	Par/ Shares (000)		Value
Mortgage-Backed Securities (continued)
FHLMC Multifamily Structured Pass Through Certificates
Series K010, Class A2, 4.33%, 10/25/20 (b)	$	1,250	$	1,275,027
Series K013, Class A2, 3.97%, 01/25/21
(Call 01/11/21)(b)		8,500		8,658,859
Series K032, Class A1, 3.02%, 02/25/23		911		916,265
Series K037, Class A1, 2.59%, 04/25/23		1,161		1,157,086
Series K715, Class A2, 2.86%, 01/25/21		2,487		2,488,795
Series K721, Class A1, 2.61%, 01/25/22		2,052		2,043,589
U.S. Government Obligations — 2.1%
U.S. Treasury Note/Bond, 1.38%, 01/31/20		120,000		118,621,874
Total U.S. Government & Agency Obligations — 2.4% (Cost: $135,737,659)				135,480,961
Money Market Funds
BlackRock Cash Funds: Institutional, SL Agency Shares, 2.62%(i)(j)(k)		62,047		62,065,938
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.31%(i)(j)		191,786		191,785,731
Total Money Market Funds — 4.4% (Cost: $253,838,853)				253,851,669
Total Investments in Securities — 103.9% (Cost: $5,977,518,387)				5,966,313,994
Other Assets, Less Liabilities — (3.9)%				(224,603,634	)
Net Assets — 100.0%			$	5,741,710,360

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

(b) Variable or floating rate security. Rate shown is the rate in effect as of period-end.

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

(d) Rates are discount rates or a range of discount rates at the time of purchase.

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

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

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

(h) Maturity date represents next reset date.

(i) Affiliate of the Fund.

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

(k) All or a portion of this security was purchased with cash collateral received from loaned securities.

28

Schedule of Investments (unaudited) (continued)	iShares® Short Maturity Bond ETF
January 31, 2019

Affiliates

Investments in issuers considered to be affiliates of the Fund during the three months ended January 31, 2019, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Shares Held at 10/31/18 (000)		Net Activity (000)			Shares Held at 01/31/19 (000)		Value at 01/31/19		Income			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares		72,065		(10,018	)		62,047	$	62,065,938	$	55,443	(a)	$	(2,152	)	$	8,469
BlackRock Cash Funds: Treasury, SL Agency Shares		430,219		(238,433	)		191,786		191,785,731		2,374,713			—			—
								$	253,851,669	$	2,430,156		$	(2,152	)	$	8,469

^(a)  Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.

Forward Foreign Currency Exchange Contracts

Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
USD	29,505,721	MXN	595,301,000	GS		02/05/19	$	(1,779,394	)
USD	4,197,092	MXN	80,050,000	GS		02/07/19		(8,485	)
USD	81,466,007	MXN	1,569,228,528	GS		02/14/19		(886,116	)
USD	559,220	MXN	10,771,472	SSB		02/14/19		(6,061	)
USD	17,305,001	MXN	334,090,910	GS		02/28/19		(190,235	)
USD	59,428	MXN	1,140,719	GS		03/21/19		(119	)
USD	4,112,194	MXN	78,924,281	HSBC		03/21/19		(7,740	)
								(2,878,150	)

Fair Value Measurements

Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of January 31, 2019. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.

	Level 1		Level 2			Level 3		Total
Investments
Assets
Asset-Backed Securities	$	—	$	1,661,717,094		$	—	$	1,661,717,094
Certificates of Deposit		—		106,021,393			—		106,021,393
Collaterized Mortgage Obligations		—		300,174,523			376,084		300,550,607
Commercial Paper		—		233,091,453			—		233,091,453
Corporate Bonds & Notes		—		3,137,165,634			—		3,137,165,634
Foreign Government Obligations		—		108,435,183			—		108,435,183
Repurchase Agreements		—		30,000,000			—		30,000,000
U.S. Government & Agency Obligations		—		135,480,961			—		135,480,961
Money Market Funds		253,851,669		—			—		253,851,669
	$	253,851,669	$	5,712,086,241		$	376,084	$	5,966,313,994
Derivative financial instruments(a)
Liabilities
Forward Foreign Currency Exchange Contracts	$	—	$	(2,878,150	)	$	—	$	(2,878,150	)

^(a)  Shown at the unrealized appreciation (depreciation) on the contracts.

29

Schedule of Investments (unaudited) (continued)	iShares® Short Maturity Bond ETF
January 31, 2019

The following table includes a rollforward for the three months ended January 31, 2019 of investments whose values are classified as Level 3 as of the beginning or end of the period.

	Asset Backed Securities			Collateralized Mortgage Obligations
Balance at beginning of period	$	69,790,000		$	1,443,544
Realized gain (loss) and change in unrealized appreciation/depreciation		-			(4,376	)
Purchases		-			-
Sales		-			(1,063,084	)
Transfers in(a)		-			-
Transfers out(a)		(69,790,000	)(b)		-
Paydown		-			-
Balance at end of period	$	-		$	376,084
Net change in unrealized appreciation/depreciation on investments still held at end of period	$	-		$	(3,799	)

^(a)  Represents the value as of the beginning of the reporting period.

^(b)  Transfers out of Level 3 are due to resumption of trading of asset backed securities.

The Fund’s investments that are categorized as Level 3 were valued utilizing a single broker quote without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 investments.

Portfolio Abbreviations - Fixed Income
CLO	Collateralized Loan Obligation
LIBOR	London Interbank Offered Rate
Counterparty Abbreviations
GS	Goldman Sachs & Co.
HSBC	HSBC Bank PLC
SSB	State Street Bank and Trust Co.
Currency Abbreviations
MXN	Mexican Peso
USD	United States Dollar

30

Schedule of Investments (unaudited)	iShares® Short Maturity Municipal Bond ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
Municipal Debt Obligations
Alabama — 1.0%
Bessemer Governmental Utility Services Corp. RB, 5.00%, 06/01/20 (BAM)	$	515	$	536,053
Black Belt Energy Gas District RB, Series A, 5.00%, 12/01/19		500		510,540
State of Alabama Docks Department RB, Series B, 5.00%, 10/01/19		500		509,320
Tuscaloosa City Board of Education RB, 5.00%, 08/01/19		150		152,406
				1,708,319
Arizona — 1.8%
Industrial Development Authority of the County of Pima (The) RB, VRDN, 1.51%, 12/01/25 (Put 02/28/19) (GNMA COLL)(a)(b)		1,200		1,200,000
Industrial Development Authority of the County of Yavapai (The) RB, Series A, 1.40%, 09/01/35 (Put 02/28/19)(a)(b)		2,000		2,000,000
				3,200,000
California — 0.4%
Lancaster Redevelopment Agency Successor Agency TA, 3.00%, 08/01/20		700		714,182
Colorado — 1.6%
City of Colorado Springs CO Utilities System Revenue RB, 1.44%, 11/01/28 (Put 02/28/19)(a)(b)		1,045		1,045,000
County of Arapahoe Co. RB, VRDN, 1.46%, 08/01/31 (Put 02/28/19)(a)(b)		1,600		1,600,000
State of Colorado Department of Transportation COP, 5.00%, 06/15/19		270		273,262
				2,918,262
Connecticut — 4.3%
State of Connecticut GO
5.00%, 06/01/21		670		714,950
Series A, 5.00%, 04/15/20		1,200		1,243,356
Series C, 1.49%, 05/15/34 (Put 02/28/19)(a)(b)		1,820		1,820,000
Series C, 5.00%, 06/01/20		720		748,757
State of Connecticut Special Tax Revenue RB, Series A, 5.00%, 09/01/21		2,000		2,146,180
University of Connecticut RB, Series A, 5.00%, 04/15/20		1,000		1,037,590
				7,710,833
District of Columbia — 1.1%
District of Columbia RB, VRDN, 1.45%, 04/01/38 (Put 02/28/19)(a)(b)		2,000		2,000,000
Georgia — 3.2%
Burke County Development Authority RB, 2.20%, 10/01/32 (Put 04/02/19)(a)(b)		1,700		1,700,170
City of Atlanta GA TA, 5.00%, 12/01/19 (TA)		365		374,056
Cobb County Development Authority RB, 5.00%, 07/15/20		545		569,797
Municipal Electric Authority of Georgia RB, 1.60%, 01/01/48 (Put 02/28/19)(a)(b)		3,030		3,030,000
				5,674,023
Illinois — 7.9%
Chicago Transit Authority RB, 5.00%, 06/01/20		750		777,653
Illinois Development Finance Authority RB, 1.50%, 06/01/29 (Put 02/28/19)(a)(b)		1,100		1,100,000
Illinois Finance Authority RB
1.49%, 11/01/38 (Put 02/28/19)(a)(b)		1,055		1,055,000
4.00%, 09/01/19		145		146,331
VRDN, 1.43%, 02/01/29 (Put 02/28/19)(a)(b)		5,525		5,525,000
VRDN, 1.50%, 11/01/38 (Put 02/28/19)(a)(b)		1,320		1,320,000

Security	Par (000)		Value
Illinois (continued)
Tender Option Bond Trust Receipts/Certificates GO, 1.66%, 03/01/33 (Put 02/28/19)(a)(b)(c)	$	4,000	$	4,000,000
				13,923,984
Iowa — 2.5%
Iowa Finance Authority RB
1.81%, 04/01/22 (Put 02/28/19)(a)(b)		3,360		3,360,000
VRDN, 1.43%, 01/01/47 (Put 02/28/19) (GNMA/FNMA/FHLMC)(a)(b)		1,000		1,000,000
				4,360,000
Kansas — 3.9%
City of Burlington KS RB, VRDN, 1.80%, 09/01/35 (Put 02/28/19)(a)(b)		6,000		6,000,000
Geary County Unified School District No. 475 GO, Series B, 3.00%, 09/01/19		850		856,537
				6,856,537
Kentucky — 2.3%
Kentucky Public Energy Authority RB 4.00%, 06/01/20		650		664,150
4.00%, 12/01/20		1,070		1,102,111
4.00%, 06/01/21		1,060		1,097,609
Kentucky State Property & Building Commission RB, Series D, 5.00%, 05/01/21		600		638,430
Tender Option Bond Trust Receipts/Certificates RB, Series 2018, 1.92%, 12/01/41 (Put 02/28/19) (AGM)(a)(b)(c)		500		500,000
				4,002,300
Louisiana — 1.0%
Louisiana Public Facilities Authority RB
1.47%, 12/01/43 (Put 02/28/19)(a)(b)		410		410,000
1.47%, 08/01/50 (Put 02/28/19)(a)(b)		1,000		1,000,000
5.00%, 05/15/21		400		425,320
				1,835,320
Michigan — 1.8%
City of Detroit MI Water Supply System Revenue RB, 5.00%, 07/01/19		970		981,669
County of Genesee MI GOL, Series B, 5.00%, 02/01/19		100		100,000
Michigan State Housing Development Authority RB, Series D, 1.49%, 06/01/30 (Put 02/28/19)(a)(b)		1,000		1,000,000
Michigan Strategic Fund RB, 1.86%, 06/01/39 (Put 02/21/19)(a)(b)		1,165		1,165,000
				3,246,669
Minnesota — 0.6%
City of Minneapolis MN RB, 1.45%, 12/01/27 (Put 02/28/19)(a)(b)		1,100		1,100,000
Missouri — 1.1%
RBC Municipal Products Inc. Trust RB, VRDN, 1.49%, 09/01/39 (Put 02/28/19)(a)(b)(c)		2,000		2,000,000
Nebraska — 0.6%
Central Plains Energy Project RB, 5.00%, 08/01/39 (Put 12/01/19)(a)(b)		1,000		1,023,150
New Jersey — 22.2%
Borough of North Plainfield NJ GO, 3.00%, 12/11/19		1,400		1,411,312
Garden State Preservation Trust RB, 5.00%, 11/01/20		1,690		1,768,585
Hasbrouck Heights Board of Education GO, 2.75%, 07/12/19		1,225		1,228,945
New Jersey Economic Development Authority RB
5.00%, 05/01/19		250		251,825
5.00%, 06/15/21		4,250		4,503,342

31

Schedule of Investments (unaudited) (continued)	iShares® Short Maturity Municipal Bond ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
New Jersey (continued)
5.25%, 09/01/19	$	2,340	$	2,383,641
5.50%, 09/01/21 (Call 03/01/21)		675		716,108
Series A, 4.00%, 07/01/22		2,000		2,099,400
Series DDD, 5.00%, 06/15/19		895		904,818
Series K, 5.50%, 12/15/19 (AMBAC)		750		772,485
Series NN, 5.00%, 03/01/21 (SAP)		1,215		1,277,293
Series NN, 5.00%, 03/01/22		2,200		2,357,058
Series PP, 5.00%, 06/15/19		750		758,228
Series PP, 5.00%, 06/15/20		1,475		1,530,357
Series XX, 5.00%, 06/15/20 (SAP)		200		207,506
New Jersey Health Care Facilities Financing Authority RB
5.00%, 07/01/19		160		162,064
5.00%, 10/01/20		600		626,796
Series A, 5.00%, 07/01/20		500		522,145
New Jersey Sports & Exposition Authority RB
4.00%, 09/01/19		1,000		1,010,330
5.00%, 09/01/20		1,250		1,301,687
New Jersey Transportation Trust Fund Authority RB
5.00%, 06/15/19		700		707,679
5.25%, 12/15/19		1,500		1,541,775
5.25%, 12/15/20		500		529,100
5.50%, 12/15/19 (NPFGC)		530		545,889
Series A, 5.25%, 12/15/19		530		544,761
Series A-1, 5.00%, 06/15/19		1,060		1,071,437
Series A-1, 5.00%, 06/15/20		1,275		1,323,730
Series B, 5.50%, 12/15/20 (NPFGC-FGIC)		155		164,316
Series B, 5.50%, 12/15/21 (NPFGC)		625		679,925
Tobacco Settlement Financing Corp./NJ RB, Series A, 5.00%, 06/01/19		1,700		1,715,589
Township of Branchburg NJ GO, 3.00%, 10/04/19		1,000		1,008,000
Township of Pennsauken NJ GO, 3.00%, 06/18/19		710		712,421
Township of South Orange Village NJ GO, 3.00%, 07/10/19		2,000		2,008,460
Township of West Orange/NJ GO, 3.00%, 09/06/19		1,122		1,129,733
				39,476,740
New York — 19.7%
Amherst Development Corp. RB, Series A, 1.48%, 02/01/35 (Put 02/28/19)(a)(b)		1,860		1,860,000
Churchville-Chili Central School District GO, 3.00%, 06/28/19 (SAW)		1,100		1,104,972
City of New York NY GO
VRDN, 1.63%, 06/01/44 (Put 02/21/19)(a)(b)		1,525		1,525,000
VRDN, 1.65%, 10/01/40 (Put 02/21/19)(a)(b)		4,400		4,400,000
County of Nassau NY GO, 4.00%, 12/10/19		5,000		5,095,750
Enlarged City School District of the City of Troy GO, 3.50%, 06/12/19 (SAW)		2,600		2,614,846
Evans-Brant Central School District GO, 3.00%, 06/27/19 (SAW)		1,525		1,532,153
Gates Chili Central School District GO, 3.00%, 06/27/19 (SAW)		1,200		1,205,388
Jamesville-Dewitt Central School District GO, 3.00%, 09/27/19 (SAW)		1,800		1,813,518
New York City Transitional Finance Authority Future Tax Secured Revenue RB, VRDN, 1.63%, 08/01/39 (Put 02/21/19)(a)(b)		1,500		1,500,000
New York City Water & Sewer System RB, VRDN, 1.65%, 06/15/48 (Put 02/21/19)(a)(b)		2,000		2,000,000
North Shore Central School District/NY GOL, 3.00%, 06/26/19 (SAW)		1,000		1,004,540
Onondaga County Trust for Cultural Resources RB, 4.00%, 05/01/19		400		402,148

Security	Par (000)		Value
New York (continued)
Somers Central School District GO, 3.00%, 09/13/19 (SAW)	$	1,100	$	1,108,250
Spackenkill Union Free School District GO, 3.00%, 06/26/19 (SAW)		1,300		1,305,057
Springs Union Free School District GOL, 3.00%, 06/27/19 (SAW)		1,000		1,004,490
Tender Option Bond Trust Receipts/Certificates RB, VRDN, 1.55%, 11/15/56 (Put 02/28/19)(a)(b)(c)		2,500		2,500,000
Town of Carmel NY GOL, 3.25%, 10/04/19		1,265		1,278,004
Town of Southold NY GOL, 3.00%, 09/25/19		1,600		1,612,752
				34,866,868
North Carolina — 1.9%
City of Charlotte NC COP, VRDN, 1.44%, 06/01/33 (Put 02/28/19)(a)(b)		1,300		1,300,000
City of Raleigh NC COP, VRDN, 1.45%, 06/01/34 (Put 02/28/19)(a)(b)		1,400		1,400,000
North Carolina Turnpike Authority RB 5.00%, 01/01/21		425		447,113
5.00%, 01/01/22		215		231,550
				3,378,663
Ohio — 1.4%
American Municipal Power Inc. RB, 3.00%, 08/15/19 (ST STANDBY NT PURCHASE)		135		135,915
County of Allen OH Hospital Facilities Revenue RB, Series A, 5.00%, 08/01/19		500		507,770
County of Franklin OH RB, 1.47%, 11/01/45 (Put 02/28/19)(a)(b)		900		900,000
Little Miami Local School District GO, 3.00%, 11/21/19		1,000		1,009,620
				2,553,305
Pennsylvania — 1.5%
Bucks County Industrial Development Authority RB, VRDN, 1.42%, 07/01/34 (Put 02/28/19)(a)(b)		1,575		1,575,000
Carlisle Area School District GOL, 2.00%, 09/01/19		165		165,262
Commonwealth of Pennsylvania GO, 5.00%, 04/01/20		800		829,664
				2,569,926
Tennessee — 0.2%
Jackson Energy Authority RB, 5.00%, 12/01/19		350		359,240
Texas — 5.8%
City of Houston TX GOL, Series A, 5.00%, 03/01/20		1,000		1,035,100
Harris County Cultural Education Facilities Finance Corp. RB Series C-1, 1.65%, 12/01/24 (Put 02/21/19)(a)(b)		1,100		1,100,000
VRDN, 1.65%, 12/01/27 (Put 02/21/19)(a)(b)		200		200,000
State of Texas GO
VRDN, 1.57%, 12/01/41 (Put 02/28/19)(a)(b)		4,000		4,000,000
VRDN, 1.57%, 12/01/43 (Put 02/28/19)(a)(b)		3,000		3,000,000
State of Texas RB, 4.00%, 08/29/19		1,000		1,013,270
				10,348,370
Washington — 2.1%
Grant County Public Utility District No. 2 RB, 2.00%, 01/01/44 (Put 09/01/20)(a)(b)		1,000		999,270
Washington Higher Education Facilities Authority RB, 1.50%, 10/01/29 (Put 02/28/19)(a)(b)		1,000		1,000,000
Washington State Housing Finance Commission RB, 1.45%, 04/01/43 (Put 02/28/19)(a)(b)		1,700		1,700,000
				3,699,270
Wisconsin — 5.3%
University of Wisconsin Hospitals & Clinics RB, VRDN, 1.65%, 04/01/48 (Put 02/21/19)(a)(b)		2,500		2,500,000

32

Schedule of Investments (unaudited) (continued)	iShares® Short Maturity Municipal Bond ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Par/ Shares (000)		Value
Wisconsin (continued)
Wisconsin Health & Educational Facilities Authority RB, 1.45%, 11/01/25 (Put 02/28/19)(a)(b)	$	1,315	$	1,315,000
Wisconsin Housing & Economic Development Authority RB 1.43%, 03/01/38 (Put 02/28/19)(a)(b)		1,650		1,650,000
VRDN, 1.43%, 03/01/31 (Put 02/28/19)(a)(b)		1,100		1,100,000
VRDN, 1.43%, 03/01/39 (Put 02/28/19)(a)(b)		2,840		2,840,000
				9,405,000
Total Municipal Debt Obligations — 95.2% (Cost $168,813,552)				168,930,961
Money Market Funds
BlackRock Liquidity Funds: MuniCash, 1.24%(d)(e)		26		26,396
Total Money Market Funds — 0.0% (Cost: $26,394)				26,396
Total Investments in Securities — 95.2% (Cost: $168,839,946)				168,957,357
Other Assets, Less Liabilities — 4.8%				8,492,354
Net Assets — 100.0%			$	177,449,711

^(a)  Variable or floating rate security. Rate shown is the rate in effect as of period-end.

^(b)  Security is payable upon demand on each reset date.

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

^(d)  Affiliate of the Fund.

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

Affiliates

Investments in issuers considered to be affiliates of the Fund during the three months ended January 31, 2019, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Shares Held at 10/31/18 (000)		Net Activity (000)			Shares Held at 01/31/19 (000)		Value at 01/31/19		Income		Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)
BlackRock Liquidity Funds: Muni Cash		80		(54	)		26	$	26,396	$	629	$	(9	)	$	2

Fair Value Measurements

Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of January 31, 2019. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.

	Level 1		Level 2		Level 3		Total
Investments
Assets
Municipal Debt Obligations	$	—	$	168,930,961	$	—	$	168,930,961
Money Market Funds		26,396		—		—		26,396
	$	26,396	$	168,930,961	$	—	$	168,957,357

Portfolio Abbreviations - Fixed Income
AGM	Assured Guaranty Municipal Corp.
AMBAC	Ambac Assurance Corp.
BAM	Build America Mutual Assurance Co.
COP	Certificates of Participation
GO	General Obligation
GOL	General Obligation Limited
NPFGC	National Public Finance Guarantee Corp.

NPFGC-FGIC	National Public Finance Guarantee Corp. — Financial Guaranty Insurance Co.
RB	Revenue Bond
SAP	Subject to Appropriations
SAW	State Aid Withholding

33

Schedule of Investments (unaudited) (continued)	iShares® Short Maturity Municipal Bond ETF
January 31, 2019

Portfolio Abbreviations - Fixed Income (continued)
ST	Special Tax
TA	Tax Allocation

34

Schedule of Investments (unaudited)	iShares® Ultra Short-Term Bond ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
Asset-Backed Securities
Capital One Multi-Asset Execution Trust, Class A6, 1.82%, 09/15/22	$	3,000	$	2,978,101
CarMax Auto Owner Trust, Class A2A, 3.02%, 07/15/22 (Call 01/15/23)		3,510		3,513,925
CNH Equipment Trust, Class A2, 2.96%, 05/16/22		4,180		4,179,658
Honda Auto Receivables Owner Trust, Class A2, 2.67%, 12/21/20 (Call 10/21/21)		3,760		3,755,323
Mercedes-Benz Auto Receivables Trust, Class A2, 2.71%, 04/15/21 (Call 04/15/22)		3,239		3,235,236
Toyota Auto Receivables Owner Trust, Class A2, 2.77%, 08/16/21 (Call 04/15/22)		3,000		2,996,708
Total Asset-Backed Securities — 2.1% (Cost: $20,653,180)				20,658,951
Certificates of Deposit
ABN AMRO Bank NV, 2.84%, 03/01/19		2,000		2,000,534
Banco Santander SA, 3.09%, 01/29/20		8,000		8,002,150
Bank of America N.A . 2.60%, 04/04/19		1,000		1,000,398
2.79%, 07/03/19		1,000		1,000,251
Bank of Montreal, 2.80%, 04/08/19		2,000		2,000,835
Bank of Montreal/Chicago IL
2.71%, 05/07/19, (1 mo. LIBOR US + 0.200%)(a)		2,000		2,000,468
2.75%, 11/01/19(a)(b)		1,500		1,501,311
2.93%, 03/06/20, (3 mo. LIBOR US + 0.190%)(a)		2,000		1,999,776
Bank of Nova Scotia/Houston, 2.91%, 09/20/19, (3 mo. LIBOR US + 0.200%)(a)		1,500		1,501,453
Barclays Bank PLC 2.72%, 05/17/19		2,000		1,999,469
2.72%, 05/28/19		2,000		1,999,240
3.00%, 09/19/19		2,000		1,999,340
3.15%, 10/15/19(a)(b)		2,000		1,999,990
3.20%, 01/31/20(c)		3,000		2,999,697
BNP Paribas SA/New York NY
2.87%, 04/04/19, (3 mo. LIBOR US + 0.080%)(a)		2,000		1,999,847
2.93%, 04/18/19, (3 mo. LIBOR US + 0.150%)(a)		1,500		1,500,387
Canadian Imperial Bank of Commerce
2.68%, 04/10/19, (1 mo. LIBOR US + 0.160%)(a)		1,500		1,500,027
2.81%, 07/25/19, (1 mo. LIBOR US + 0.300%)(a)		2,000		2,000,941
3.08%, 10/28/19		2,000		2,004,217
Canadian Imperial Bank of Commerce/New York NY
2.75%, 05/09/19, (3 mo. LIBOR US + 0.150%)(a)		2,500		2,500,645
2.84%, 08/13/19, (1 mo. LIBOR US + 0.330%)(a)		2,000		2,001,502
Citibank N.A./New York, 2.51%, 03/14/19		2,000		1,999,925
Credit Industriel Et Commercial, 2.90%, 08/01/19		9,000		8,874,288
Credit Suisse AG/New York NY
2.81%, 05/01/19, (3 mo. LIBOR US + 0.270%)(a)		1,500		1,500,709
3.14%, 04/09/19, (3 mo. LIBOR US + 0.340%)(a)		1,640		1,640,765
Lloyds Bank PLC, 3.05%, 08/06/19		2,000		2,002,713
Mitsubishi UFJ Trust & Banking Corp./NY, 2.78%, 03/15/19, (1 mo. LIBOR US + 0.270%)(a)		1,000		1,000,136
Mizuho Bank Ltd., 3.12%, 04/15/20,
(3 mo. LIBOR US + 0.330%)(a)		1,500		1,502,273
MUFG Bank Ltd.
2.88%, 10/24/19(a)(b)		5,000		5,003,182
2.90%, 08/15/19		4,000		4,002,347
Natixis SA/New York NY, 2.85%, 06/06/19, (3 mo. LIBOR US + 0.180%)(a)		2,000		2,000,506

Security	Par (000)		Value
Nordea Bank AB/New York NY, 3.07%, 07/10/20, (3 mo. LIBOR US + 0.290%)(a)	$	4,000	$	4,001,661
Royal Bank of Canada/New York NY 2.76%, 02/07/19, (3 mo. LIBOR US + 0.160%)(a)		1,000		1,000,009
3.10%, 03/22/19, (3 mo. LIBOR US + 0.280%)(a)		1,000		1,000,306
Skandinaviska Enskilda Banken AB, 2.97%, 09/06/19		4,000		4,006,737
Societe Generale/New York NY, 2.99%, 02/28/19, (3 mo. LIBOR US + 0.280%)(a)		1,000		1,000,146
Standard Chartered Bank/New York 2.67%, 06/04/19		5,000		4,999,272
2.92%, 03/25/19, (3 mo. LIBOR US + 0.100%)(a)		1,000		1,000,111
3.01%, 04/24/19, (3 mo. LIBOR US + 0.230%)(a)		2,500		2,501,186
Sumitomo Mitsui Banking Corp./New York 2.51%, 03/01/19		3,000		3,000,031
3.20%, 07/24/20, (3 mo. LIBOR US + 0.420%)(a)		2,000		2,000,574
3.21%, 06/18/20, (3 mo. LIBOR US + 0.410%)(a)		2,700		2,700,699
Sumitomo Mitsui Trust Bank Ltd./New York 2.83%, 08/16/19, (3 mo. LIBOR US + 0.200%)(a)		3,000		3,000,628
2.92%, 04/17/19, (3 mo. LIBOR US + 0.150%)(a)		2,000		2,000,183
2.92%, 07/08/19(a)(b)		1,000		1,000,077
3.00%, 07/09/19, (3 mo. LIBOR US + 0.200%)(a)		1,500		1,500,564
3.02%, 01/15/20(a)(b)		2,000		1,999,898
Svenska Handelsbanken/New York NY, 3.01%, 12/19/19, (3 mo. LIBOR US + 0.210%)(a)		3,000		3,004,090
Toronto-Dominion Bank 2.73%, 05/10/19 (Call 02/11/19)		1,875		1,875,417
2.73%, 08/07/19 (Call 05/07/19)		2,000		1,999,988
Toronto-Dominion Bank (The), 3.02%, 09/18/19		2,000		2,003,604
Toronto-Dominion Bank/NY, 2.91%, 06/12/19 (Call 03/12/19), (1 mo. LIBOR US + 0.400%)(a)		1,000		1,000,210
Wells Fargo Bank N.A., 2.89%, 04/15/19, (3 mo. LIBOR US + 0.100%)(a)		3,000		3,000,962
Total Certificates of Deposit — 12.8% (Cost: $124,581,452)				124,635,675
Commercial Paper
ANTALIS SA, 2.94%, 05/02/19(c)		3,000		2,979,138
ASTRAZENECA PLC 3.09%, 07/15/19(c)		6,500		6,415,094
3.13%, 07/08/19(c)		8,000		7,900,249
AT&T Inc. 3.07%, 03/27/19(c)		2,000		1,990,839
3.09%, 05/30/19(c)		1,500		1,484,525
3.35%, 05/28/19(c)		10,000		9,898,535
Atlantic Asset Securitization LLC, 2.96%, 09/09/19(c)		2,000		1,964,333
AutoZone Inc., 2.81%, 02/21/19(c)		2,000		1,996,703
Bank of Nova Scotia (The), 2.87%, 05/30/19(c)		3,000		2,973,334
Banque et Caisse, 2.44%, 02/14/19(c)		1,000		999,054
Barclays Bank PLC, 3.35%, 11/15/19(c)		2,000		1,950,320
BAT International Finance PLC, 2.91%, 02/25/19(c)		4,000		3,992,119
Bayerische Landbank NY, 2.85%, 04/11/19(c)		3,000		2,984,658
Bedford Row Funding Corp.
2.72%, 08/26/19, (1 mo. LIBOR US + 0.220%)(a)(d)		1,500		1,499,112
2.78%, 02/14/19, (1 mo. LIBOR US + 0.270%)(a)		1,000		1,000,023
2.79%, 04/26/19(c)		1,000		993,608
2.91%, 09/12/19(c)		3,000		2,946,912
Bell Canada Inc. 2.72%, 02/04/19(c)		500		499,854
2.85%, 02/21/19(c)		2,000		1,996,820

35

Schedule of Investments (unaudited) (continued)	iShares® Ultra Short-Term Bond ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
3.01%, 04/15/19(c)	$	6,400	$	6,362,599
3.07%, 03/13/19(c)		4,000		3,987,372
3.12%, 04/02/19(c)		2,000		1,990,470
3.12%, 04/04/19(c)		2,700		2,686,690
BPCE 2.64%, 02/08/19(c)		1,000		999,469
3.00%, 06/21/19(c)		2,000		1,978,701
Cancara Asset Securitisation LLC, 2.98%, 04/17/19(c)		2,000		1,988,410
CenterPoint Energy Inc. 2.86%, 03/08/19(c)		4,000		3,988,648
3.12%, 04/05/19(c)		7,000		6,963,102
Chariot Funding LLC, 3.08%, 07/12/19(c)		1,000		987,310
Charta LLC 2.86%, 05/06/19(c)		1,000		992,941
2.87%, 04/03/19(c)		7,185		7,152,654
Ciesco LLC, 2.85%, 03/18/19(c)		1,100		1,096,398
COCA-COLA Co., 3.07%, 12/09/19(c)		1,000		975,014
Credit Suisse AG/New York NY
2.95%, 09/27/19(c)		2,000		1,963,539
3.00%, 07/15/19(c)		2,000		1,975,204
DNB Bank ASA, 3.14%, 10/11/19(c)		7,000		6,869,536
Electricite de France SA 3.04%, 02/25/19(c)		1,000		998,030
3.04%, 02/26/19(c)		3,000		2,993,849
Federation Des Caisses Desjardins du Quebec, 3.04%, 08/08/19(c)		4,000		3,941,158
Federation Des Caisses Desjardins Du Quebec, 2.74%, 07/22/19(c)		3,000		2,960,168
Harley-Davidson Financial Services Inc., 3.07%, 02/04/19(c)		4,000		3,998,788
HSBC Bank PLC 2.70%, 04/16/19(c)		1,000		994,490
2.86%, 02/22/19, (3 mo. LIBOR US + 0.180%)(a)		600		600,134
2.98%, 04/17/19, (3 mo. LIBOR US + 0.210%)(a)(d)		1,500		1,500,615
HSBC USA Inc., 3.01%, 08/15/19(c)		2,000		1,969,065
Hyundai Capital America 3.00%, 02/14/19(c)		1,000		998,910
3.07%, 02/25/19(c)		2,500		2,495,075
ING U.S. Funding LLC 2.47%, 03/05/19(c)		1,500		1,496,554
2.48%, 02/21/19(c)		2,000		1,997,111
2.76%, 02/12/19, (1 mo. LIBOR US + 0.250%)(a)		1,500		1,500,152
2.78%, 03/06/19, (1 mo. LIBOR US + 0.270%)(a)		1,000		1,000,268
JPMorgan Securities LLC 2.84%, 07/11/19(c)		2,000		1,974,821
2.96%, 07/26/19, (3 mo. LIBOR US + 0.200%)(a)		2,000		2,000,373
Jupiter Sector Co. Ltd., 2.95%, 10/15/19(c)		2,500		2,448,297
KfW, 2.60%, 04/03/19(c)		2,000		1,991,351
La Fayette Asset Securitization LLC, 2.75%, 03/18/19(c)		10,000		9,967,251
Landesbank Baden-Wuerttemberg 3.03%, 04/03/19(c)		3,000		2,986,680
3.03%, 04/05/19(c)		5,000		4,977,013
Macquarie Bank Ltd. 2.55%, 02/19/19(c)		2,000		1,997,418
2.69%, 05/28/19(c)		2,000		1,982,099
2.83%, 08/08/19(c)		2,000		1,970,422
3.07%, 08/02/19(c)		2,000		1,971,411
3.25%, 10/11/19(c)		4,000		3,919,434
Matchpoint Finance PLC 2.99%, 06/03/19(c)		5,000		4,951,107
3.01%, 05/21/19(c)		1,000		991,292
3.02%, 06/04/19(c)		2,000		1,980,277

Security	Par (000)		Value
McKesson Corp. 2.84%, 02/11/19(c)	$	1,000	$	999,154
3.00%, 02/05/19(c)		5,000		4,998,118
Mondelez International Inc. 3.07%, 03/05/19(c)		2,000		1,994,764
3.09%, 04/18/19(c)		5,000		4,968,098
3.10%, 03/22/19(c)		5,000		4,979,812
Mont Blanc Capital Corp., 2.87%, 03/15/19(c)		1,632		1,626,406
National Australia Bank Ltd., 2.77%, 04/02/19, (1 mo. LIBOR US + 0.250%)(a)		1,000		1,000,371
NextEra Energy Capital Holdings Inc. 2.89%, 03/05/19(c)		2,000		1,994,764
2.89%, 03/27/19(c)		4,000		3,982,076
3.02%, 02/26/19(c)		4,000		3,991,798
3.05%, 02/27/19(c)		3,000		2,993,605
Old Line Funding LLC
2.89%, 04/26/19, (1 mo. LIBOR US + 0.390%)(a)		1,000		1,000,705
2.95%, 05/28/19(c)		3,000		2,973,285
Ontario Teachers’ Finance Trust, 2.88%, 06/04/19(c)		2,200		2,179,063
Oversea-Chinese Banking Corp. Ltd. 2.47%, 02/26/19(c)		1,000		998,200
2.54%, 02/19/19(c)		1,400		1,398,166
2.75%, 02/20/19(c)		1,200		1,198,345
Reckitt Benckiser Treasury Services PLC 2.63%, 02/04/19(c)		4,000		3,998,943
2.64%, 02/12/19(c)		2,000		1,998,375
Ridgefield Funding Co. LLC 2.94%, 05/07/19(c)		2,000		1,985,568
3.05%, 06/11/19(c)		7,000		6,930,079
Salisbury Bancorp. Inc. 3.04%, 10/17/19(a)(b)		2,000		1,999,996
3.23%, 08/23/19(c)(d)		2,000		1,968,017
Schlumberger Holdings Corp. 2.73%, 03/07/19(c)		1,000		997,275
2.96%, 02/13/19(c)		4,000		3,996,107
3.05%, 02/19/19(c)		2,000		1,997,114
Sempra Energy, 2.84%, 02/26/19(c)		5,000		4,989,748
Sheffield Receivables Co. LLC, 2.87%, 04/18/19(c)		1,000		994,133
Societe Generale SA 2.90%, 08/02/19(c)(d)		5,000		4,931,553
2.90%, 08/05/19(c)		2,250		2,217,105
2.91%, 08/26/19(c)		1,500		1,476,540
3.01%, 12/16/19, (1 mo. LIBOR US + 0.530%)(a)(d)		1,000		1,002,390
3.17%, 01/09/20(a)(b)		2,000		2,003,819
3.22%, 10/31/19(c)		1,500		1,466,889
3.24%, 10/15/19(c)		1,000		980,182
Starbird Funding Corp., 2.94%, 05/13/19(c)		3,000		2,975,826
Sumitomo Mitsui Trust Bank Ltd./New York, 2.87%, 04/01/19(c)		1,950		1,941,745
Suncor Energy Inc. 2.86%, 02/12/19(c)		5,000		4,995,355
2.93%, 02/25/19(c)		3,000		2,994,090
3.02%, 02/28/19(c)		3,000		2,993,362
3.08%, 04/17/19(c)		2,000		1,987,414
3.11%, 03/12/19(c)		2,000		1,993,622
3.12%, 04/11/19(c)		2,000		1,988,438
3.15%, 03/18/19(c)		3,000		2,988,941
Suncorp Group Ltd. 2.60%, 03/25/19(c)		2,000		1,992,109
3.01%, 07/23/19(c)		3,000		2,957,975
Swedbank AB, 2.57%, 03/04/19(c)		2,000		1,995,746

36

Schedule of Investments (unaudited) (continued)	iShares® Ultra Short-Term Bond ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
Telstra Corp. Ltd., 3.05%, 04/29/19(c)	$	3,000	$	2,979,283
TELUS Corp. 3.02%, 04/18/19(c)		4,000		3,974,479
3.07%, 03/13/19(c)		7,000		6,977,104
Thunder Bay Funding LLC, 2.77%, 05/02/19(c)		1,500		1,489,869
Toronto-Dominion Bank, 3.09%, 10/18/19(c)		5,000		4,900,947
Toronto-Dominion Bank (The), 2.79%, 02/08/19, (1 mo. LIBOR US + 0.270%)(a)(d)		2,000		2,000,162
Toyota Industries Corp., 3.12%, 08/26/19(c)		3,000		2,953,856
Toyota Motor Credit Corp., 2.87%, 04/03/19, (3 mo. LIBOR US + 0.080%)(a)		3,000		3,000,352
TransCanada PipeLines Ltd. 2.92%, 02/14/19(c)		1,250		1,248,638
3.03%, 03/11/19(c)		5,000		4,984,465
3.07%, 02/28/19(c)		3,000		2,993,362
3.07%, 04/04/19(c)		2,000		1,989,626
3.07%, 04/11/19(c)		6,000		5,965,315
UBS AG/London
2.76%, 08/28/19, (1 mo. LIBOR US + 0.260%)(a)(d)		1,000		1,000,196
2.92%, 07/02/19, (1 mo. LIBOR US + 0.400%)(a)(d)		1,000		1,000,624
3.12%, 04/04/19, (3 mo. LIBOR US + 0.330%)(a)(d)		4,000		4,001,457
3.14%, 12/19/19, (3 mo. LIBOR US + 0.320%)(a)(d)		3,000		2,999,983
United Overseas Bank Ltd.
2.92%, 05/17/19(c)		4,000		3,968,506
2.94%, 05/24/19(c)		2,000		1,983,037
Versailles CDS LLC, 2.87%, 03/11/19(c)		2,000		1,994,497
VW Credit Inc. 2.67%, 02/21/19(c)		3,000		2,995,054
2.94%, 03/20/19(c)		4,500		4,482,624
3.14%, 04/03/19(c)		3,000		2,984,691
3.41%, 07/08/19(c)		2,000		1,972,657
Walgreens Boots Alliance Inc. 2.83%, 02/19/19(c)		3,000		2,995,533
2.87%, 02/11/19(c)		3,000		2,997,452
3.24%, 04/16/19(c)		2,000		1,987,583
3.30%, 05/24/19(c)		2,750		2,723,440
3.36%, 07/17/19(c)		4,000		3,942,088
3.36%, 07/26/19(c)		3,000		2,954,137
Westpac Banking Corp.
2.76%, 10/31/19, (3 mo. LIBOR US + 0.180%)(a)		1,000		1,000,653
2.77%, 11/01/19, (3 mo. LIBOR US + 0.180%)(a)		2,000		2,001,165
Total Commercial Paper — 41.3% (Cost: $401,304,969)				401,434,921
Corporate Bonds & Notes
Aerospace & Defense — 0.6%
General Dynamics Corp., 2.88%, 05/11/20		2,000		2,004,496
Lockheed Martin Corp., 4.25%, 11/15/19		2,000		2,024,566
United Technologies Corp.
2.89%, 11/01/19, (3 mo. LIBOR US + 0.350%)(a)		500		500,638
3.28%, 08/16/21 (Call 08/16/19), (3 mo. LIBOR US + 0.650%)(a)		1,000		1,000,018
3.35%, 08/16/21		540		544,906
				6,074,624
Auto Manufacturers — 4.3%
American Honda Finance Corp. 2.00%, 11/13/19		500		497,170
2.80%, 02/21/20, (3 mo. LIBOR US + 0.150%)(a)		2,000		2,000,704

Security	Par (000)		Value
Auto Manufacturers (continued)
2.83%, 02/12/21, (3 mo. LIBOR US + 0.210%)(a)	$	1,000	$	992,351
3.05%, 06/16/20, (3 mo. LIBOR US + 0.260%)(a)		4,000		3,998,370
BMW U.S. Capital LLC
3.21%, 04/12/21, (3 mo. LIBOR US + 0.410%)(a)(d)		2,000		1,989,338
3.25%, 08/14/20(d)		1,850		1,862,188
Daimler Finance North America LLC 2.30%, 02/12/21(d)		1,535		1,506,236
3.10%, 05/04/20(d)		9,325		9,314,916
3.13%, 02/22/21, (3 mo. LIBOR US + 0.450%)(a)(d)		3,000		2,974,597
3.37%, 10/30/19, (3 mo. LIBOR US + 0.620%)(a)(d)		250		250,196
Harley-Davidson Financial Services Inc., 3.15%, 05/21/20, (3 mo. LIBOR US + 0.500%)(a)(d)		2,000		2,000,160
Hyundai Capital America 2.00%, 07/01/19(d)		1,025		1,019,475
3.60%, 03/12/21, (3 mo. LIBOR US + 0.820%)(a)(d)		1,000		995,130
Nissan Motor Acceptance Corp.
3.20%, 09/28/20, (3 mo. LIBOR US + 0.390%)(a)(d)		750		745,135
3.78%, 03/08/19, (3 mo. LIBOR US + 1.010%)(a)(d)		250		250,184
PACCAR Financial Corp. 2.05%, 11/13/20		580		571,714
2.88%, 05/10/21, (3 mo. LIBOR US + 0.260%)(a)		680		677,502
3.10%, 05/10/21		915		919,572
Toyota Motor Credit Corp. 2.20%, 01/10/20		1,500		1,492,292
3.05%, 01/08/21		2,435		2,452,420
3.15%, 03/12/20, (3 mo. LIBOR US + 0.370%)(a)		1,500		1,503,469
Volkswagen Group of America Finance LLC, 3.88%, 11/13/20(d)		4,000		4,045,287
				42,058,406
Banks — 28.4%
ABN AMRO Bank NV 1.80%, 09/20/19(d)		3,000		2,977,740
2.45%, 06/04/20(d)		1,000		991,065
3.26%, 08/27/21, (3 mo. LIBOR US + 0.570%)(a)(d)		3,000		2,993,214
3.40%, 08/27/21(d)		2,500		2,511,313
ANZ New Zealand Int’l Ltd./London 2.20%, 07/17/20(d)		1,351		1,332,990
2.25%, 02/01/19(d)		1,500		1,500,000
2.60%, 09/23/19(d)		1,000		998,338
2.75%, 01/22/21(d)		4,000		3,963,789
Australia & New Zealand Banking Group Ltd., 2.92%, 11/09/20, (3 mo. LIBOR US + 0.320%)(a)(d)		1,000		999,386
Australia & New Zealand Banking Group Ltd./New York NY 2.25%, 06/13/19		1,000		998,336
2.25%, 11/09/20		4,500		4,442,086
Bank of America N.A., 2.96%, 08/28/20 (Call 08/28/19), (3 mo. LIBOR US + 0.250%)(a)		2,000		2,000,403
Bank of Montreal 1.50%, 07/18/19		2,000		1,989,458
1.75%, 09/11/19		3,450		3,429,884
3.38%, 12/12/19, (3 mo. LIBOR US + 0.600%)(a)		510		512,109
Bank of Montreal/Chicago IL, 2.81%, 06/13/19, (1 mo. LIBOR US + 0.300%)(a)		500		500,178
Bank of Nova Scotia (The) 3.09%, 01/08/21, (3 mo. LIBOR US + 0.290%)(a)		1,000		998,557
3.20%, 04/20/21, (3 mo. LIBOR US + 0.440%)(a)		2,000		2,000,696
Bank of Nova Scotia/Houston 2.82%, 02/18/20, (3 mo. LIBOR US + 0.180%)(a)		1,000		1,000,303
3.07%, 10/15/19, (3 mo. LIBOR US + 0.280%)(a)		843		844,325

37

Schedule of Investments (unaudited) (continued)	iShares® Ultra Short-Term Bond ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
Banks (continued)
Bank of Tokyo-Mitsubishi UFJ Ltd. (The), 3.22%, 09/09/19, (3 mo. LIBOR US + 0.450%)(a)	$	1,400	$	1,402,882
Banque Federative du Credit Mutuel SA, 2.20%, 07/20/20(d)		1,000		986,906
Barclays Bank PLC, 6.75%, 05/22/19		1,500		1,517,353
BNP Paribas SA, 2.45%, 03/17/19		2,549		2,548,235
BPCE SA
2.25%, 01/27/20		2,000		1,980,428
2.50%, 07/15/19		6,000		5,982,840
Branch Banking & Trust Co.
2.10%, 01/15/20 (Call 12/15/19)		15,000		14,898,706
2.25%, 06/01/20 (Call 05/01/20)		1,100		1,090,046
Canadian Imperial Bank of Commerce, 2.80%, 05/02/20(a)(b)		2,000		2,004,744
Canadian Imperial Bank of Commerce/New York NY, 3.20%, 09/20/19, (3 mo. LIBOR US + 0.410%)(a)		1,500		1,502,109
Capital One N.A.
2.35%, 01/31/20 (Call 12/31/19)		3,000		2,980,950
2.40%, 09/05/19 (Call 08/15/19)		3,000		2,991,334
Citibank N.A.
2.00%, 03/20/19 (Call 02/20/19)		1,500		1,498,649
2.97%, 02/12/21 (Call 01/12/21), (3 mo. LIBOR US + 0.350%)(a)		1,000		999,575
3.34%, 07/23/21 (Call 06/23/21), (3 mo. LIBOR US + 0.570%)(a)		2,000		1,999,241
Citigroup Inc., 2.05%, 06/07/19		1,030		1,027,364
Commonwealth Bank of Australia
1.75%, 11/07/19(d)		1,591		1,578,791
3.22%, 03/10/20, (3 mo. LIBOR US + 0.450%)(a)(d)		1,615		1,619,773
5.00%, 10/15/19(d)		4,000		4,060,854
Commonwealth Bank of Australia/New York NY, 2.30%, 09/06/19		2,000		1,994,535
Cooperatieve Rabobank UA, 4.75%, 01/15/20(d)		2,167		2,206,215
Cooperatieve Rabobank UA/NY
2.25%, 01/14/20		8,500		8,459,009
2.50%, 01/19/21		1,080		1,071,652
3.19%, 04/26/21, (3 mo. LIBOR US + 0.430%)(a)		1,000		1,000,787
Credit Agricole Corporate and Investment Bank/New York
3.00%, 05/11/20, (3 mo. LIBOR US + 0.385%)(a)		2,000		2,002,105
3.22%, 09/24/20, (3 mo. LIBOR US + 0.400%)(a)		1,800		1,799,701
3.27%, 07/13/20(a)(b)		6,000		5,999,956
Credit Suisse AG/New York NY, 5.30%, 08/13/19		2,000		2,026,179
Fifth Third Bank/Cincinnati OH, 3.00%, 10/30/20 (Call 09/30/20), (3 mo. LIBOR US + 0.250%)(a)		1,000		994,959
Goldman Sachs Bank USA/New York NY, 3.20%, 06/05/20		445		446,436
HSBC Holdings PLC
3.24%, 05/18/21 (Call 05/18/20), (3 mo. LIBOR US + 0.600%)(a)		3,500		3,492,278
3.43%, 09/11/21 (Call 09/11/20), (3 mo. LIBOR US + 0.650%)(a)		4,000		3,996,572
HSBC USA Inc., 2.38%, 11/13/19		1,120		1,116,007
ING Bank NV
2.30%, 03/22/19(d)		2,640		2,638,665
2.45%, 03/16/20(d)		3,000		2,981,196
2.50%, 10/01/19(d)		2,000		1,993,916
JPMorgan Chase & Co., 2.25%, 01/23/20 (Call 12/23/19)		8,500		8,446,342
JPMorgan Chase Bank N.A., 2.87%, 02/13/20 (Call 02/13/19), (3 mo. LIBOR US + 0.250%)(a)		2,000		2,000,173
KeyBank NA/Cleveland OH, 3.30%, 02/01/22		2,115		2,126,533
Lloyds Bank PLC
2.35%, 09/05/19		3,000		2,984,546
2.70%, 08/17/20		1,000		994,447

Security	Par (000)		Value
Banks (continued)
3.30%, 05/07/21	$	3,000	$	3,010,431
Mizuho Bank Ltd., 3.17%, 10/25/19, (3 mo. LIBOR US + 0.400%)(a)		3,000		3,006,403
Mizuho Bank Ltd./NY
2.83%, 04/30/19, (3 mo. LIBOR US + 0.300%)(a)		1,000		1,000,537
3.10%, 01/15/20, (3 mo. LIBOR US + 0.310%)(a)		2,000		2,002,961
Morgan Stanley
2.38%, 07/23/19		4,000		3,992,934
2.65%, 01/27/20		5,000		4,984,478
Series 3NC2, 3.41%, 02/14/20 (Call 02/14/19), (3 mo. LIBOR US + 0.800%)(a)		1,000		1,000,000
MUFG Bank Ltd.
2.30%, 03/10/19(d)		1,000		999,680
2.35%, 09/08/19(d)		2,000		1,994,815
3.27%, 01/25/21, (3 mo. LIBOR US + 0.500%)(a)(b)		2,000		1,999,994
National Australia Bank Ltd.
3.01%, 07/25/19, (3 mo. LIBOR US + 0.240%)(a)(d)		3,000		3,000,983
3.15%, 01/12/21, (3 mo. LIBOR US + 0.350%)(a)(d)		2,000		1,996,469
3.37%, 01/10/20, (3 mo. LIBOR US + 0.590%)(a)(d)		1,200		1,205,251
National Australia Bank Ltd./New York
2.50%, 01/12/21		1,000		988,635
2.97%, 03/14/19, (3 mo. LIBOR US + 0.190%)(a)		750		750,758
National Australia Bank Ltd/New York, 3.70%, 11/04/21		3,035		3,067,820
National Bank of Canada, 2.20%, 11/02/20 (Call 10/02/20)		1,000		984,703
Nordea Bank AB
1.63%, 09/30/19(d)		3,900		3,869,969
3.05%, 10/18/19, (3 mo. LIBOR US + 0.270%)(a)		1,000		1,000,897
Nordea Bank AB/New York NY, 2.88%, 08/10/20, (3 mo. LIBOR US + 0.270%)(a)		1,000		999,257
Royal Bank of Canada
1.50%, 07/29/19		2,000		1,988,247
3.06%, 07/22/20, (3 mo. LIBOR US + 0.300%)(a)		2,000		2,000,911
Santander UK PLC
2.13%, 11/03/20		965		945,815
2.35%, 09/10/19		3,000		2,989,525
2.88%, 11/03/20, (3 mo. LIBOR US + 0.300%)(a)		500		498,308
Skandinaviska Enskilda Banken AB
1.50%, 09/13/19		1,750		1,735,247
2.30%, 03/11/20		4,640		4,609,302
2.38%, 03/25/19(d)		1,500		1,498,416
3.07%, 05/17/21, (3 mo. LIBOR US + 0.430%)(a)(d)		4,000		3,989,244
Sumitomo Mitsui Banking Corp.
2.51%, 01/17/20		2,498		2,489,844
3.12%, 01/17/20, (3 mo. LIBOR US + 0.350%)(a)		1,000		1,001,602
Sumitomo Mitsui Banking Corp./New York
3.08%, 05/15/19, (3 mo. LIBOR US + 0.460%)(a)		2,000		2,001,720
3.17%, 07/11/19, (3 mo. LIBOR US + 0.370%)(a)		3,250		3,253,609
3.22%, 09/09/19, (3 mo. LIBOR US + 0.450%)(a)		800		801,363
Sumitomo Mitsui Trust Bank Ltd., 2.05%, 03/06/19(d)		1,635		1,634,199
Suncorp-Metway Ltd.
2.10%, 05/03/19(d)		1,000		998,130
2.38%, 11/09/20(d)		1,250		1,224,218
3.26%, 10/19/20, (3 mo. LIBOR US + 0.500%)(a)(d)(e)		7,000		6,977,740
Svenska Handelsbanken AB
1.50%, 09/06/19		2,250		2,231,751
2.40%, 10/01/20		3,000		2,969,968
3.13%, 09/08/20, (3 mo. LIBOR US + 0.360%)(a)		745		745,285
3.20%, 04/01/20, (3 mo. LIBOR US + 0.400%)(a)		3,000		3,005,753
Svenska Handelsbanken/New York NY, 3.03%, 10/21/19, (3 mo. LIBOR US + 0.270%)(a)		3,000		3,004,870

38

Schedule of Investments (unaudited) (continued)	iShares® Ultra Short-Term Bond ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
Banks (continued)
Toronto-Dominion Bank (The), 3.00%, 06/11/20	$	1,000	$	1,002,265
UBS AG/Stamford CT 2.35%, 03/26/20		2,500		2,488,187
2.38%, 08/14/19		5,013		5,004,636
United Overseas Bank Ltd., 3.25%, 04/23/21, (3 mo. LIBOR US + 0.480%)(a)(d)		2,000		1,997,322
Wells Fargo & Co.
3.22%, 04/22/19, (3 mo. LIBOR US + 0.460%)(a)		1,000		1,000,936
Series N, 2.15%, 01/30/20		3,462		3,438,392
Wells Fargo Bank N.A. 3.10%, 01/15/21, (3 mo. LIBOR US + 0.310%)(a)		2,000		1,996,080
3.27%, 07/23/21 (Call 07/23/20), (3 mo. LIBOR US + 0.500%)(a)		2,000		1,998,718
3.27%, 10/22/21 (Call 09/21/21), (3 mo. LIBOR US + 0.500%)(a)		2,000		1,998,602
3.33%, 07/23/21 (Call 07/23/20)(a)(b)		2,000		2,006,564
Westpac Banking Corp. 3.05%, 05/15/20		5,000		5,009,989
3.17%, 03/06/20, (3 mo. LIBOR US + 0.430%)(a)		3,000		3,008,214
3.33%, 05/13/19, (3 mo. LIBOR US + 0.710%)(a)		250		250,369
				276,079,475
Computers — 0.3%
Apple Inc., 1.80%, 11/13/19		1,500		1,489,999
IBM Credit LLC, 2.89%, 09/06/19, (3 mo. LIBOR US + 0.150%)(a)		1,000		999,821
				2,489,820
Diversified Financial Services — 0.9%
AIG Global Funding, 1.95%, 10/18/19(d)		555		552,458
American Express Credit Corp. 1.70%, 10/30/19 (Call 09/30/19)		2,450		2,430,716
2.13%, 03/18/19		1,903		1,901,733
3.17%, 03/03/20 (Call 02/03/20), (3 mo. LIBOR US + 0.430%)(a)		3,000		3,004,847
Mizuho Securities USA LLC, 3.46%, 06/28/19, (3 mo. LIBOR US + 0.650%)(a)(d)		1,000		1,001,359
				8,891,113
Electric — 0.6%
NextEra Energy Capital Holdings Inc. 3.05%, 09/03/19(a)(b)		2,000		1,995,006
Series H, 3.34%, 09/01/20		1,795		1,803,590
Sempra Energy 1.63%, 10/07/19		1,528		1,513,103
3.04%, 07/15/19, (3 mo. LIBOR US + 0.250%)(a)		1,000		996,749
				6,308,448
Electronics — 0.1%
Honeywell International Inc. 1.80%, 10/30/19		310		308,065
2.79%, 10/30/19, (3 mo. LIBOR US + 0.040%)(a)		750		750,213
				1,058,278
Health Care - Services — 0.1%
Roche Holdings Inc., 2.25%, 09/30/19 (Call 08/30/19)(d)		1,300		1,296,641
Insurance — 0.6%
Jackson National Life Global Funding, 3.09%, 10/15/20, (3 mo. LIBOR US + 0.300%)(a)(d)		5,000		4,983,620
Metropolitan Life Global Funding I, 1.75%, 09/19/19(d)		860		854,121
				5,837,741
Internet — 0.2%
Alibaba Group Holding Ltd., 2.50%, 11/28/19 (Call 10/28/19)		1,750		1,740,916

Security	Par (000)		Value
Machinery — 1.3%
Caterpillar Financial Services Corp. 2.80%, 05/15/20, (3 mo. LIBOR US + 0.180%)(a)	$	1,500	$	1,499,808
2.90%, 03/15/21		1,500		1,499,417
3.02%, 03/15/21, (3 mo. LIBOR US + 0.230%)(a)		1,000		994,512
John Deere Capital Corp. 2.92%, 07/05/19, (3 mo. LIBOR US + 0.120%)(a)		1,170		1,170,413
2.97%, 10/09/20, (3 mo. LIBOR US + 0.170%)(a)		3,000		2,989,221
3.02%, 03/12/21, (3 mo. LIBOR US + 0.240%)(a)		1,000		998,601
3.20%, 07/10/20(a)(b)		3,000		3,003,694
				12,155,666
Manufacturing — 0.5%
3M Co., 3.00%, 09/14/21 (Call 08/14/21)		1,075		1,084,769
Siemens Financieringsmaatschappij NV 1.30%, 09/13/19(d)		1,100		1,090,007
3.13%, 03/16/20, (3 mo. LIBOR US + 0.340%)(a)(d)		3,000		3,002,099
				5,176,875
Media — 0.4%
Comcast Corp. 3.13%, 10/01/20, (3 mo. LIBOR US + 0.330%)(a)		2,000		2,002,145
3.30%, 10/01/20		1,610		1,620,747
				3,622,892
Pharmaceuticals — 0.2%
Pfizer Inc., 3.00%, 09/15/21		1,670		1,682,532
Pipelines — 0.2%
TransCanada PipeLines Ltd., 2.89%, 11/15/19, (3 mo. LIBOR US + 0.275%)(a)		1,500		1,499,168
Software — 0.1%
Oracle Corp., 2.25%, 10/08/19		600		598,483
Telecommunications — 0.2%
Verizon Communications Inc., 3.20%, 05/22/20, (3 mo. LIBOR US + 0.550%)(a)		2,000		2,006,520
Total Corporate Bonds & Notes — 39.0% (Cost: $378,209,873)				378,577,598
Repurchase Agreements
Barclays Bank PLC, 3.12%, 02/01/19 (Purchased on 01/31/19 to be repurchased at $10,000,867, collateralized by non-agency mortgage-backed security, 2.65% to 2.70%, due 12/25/36 to 05/25/37, par and fair value of $22,041,621 and $11,500,000, respectively) (a)(f)		10,000		10,000,000
Citigroup Global Markets Inc., 3.24%, 02/01/19 (Purchased on 01/31/19 to be repurchased at $12,001,079, collateralized by non-agency mortgage-backed security, 3.25% to 6.10%, due 10/13/36 to 03/25/61, par and fair value of $12,686,721 and $12,600,000, respectively) (a)(f)		12,000		12,000,000
Credit Suisse Securities (USA) LLC, 2.96%, 02/01/19 (Purchased on 01/31/19 to be repurchased at $5,000,412, collateralized by non-agency mortgage-backed security, 0.00% to 5.93%, due 10/15/26 to 02/10/48, par and fair value of $7,798,755 and $5,750,000, respectively) (a)(f)		5,000		5,000,000
JP Morgan Securities, 3.24%, 02/01/19 (Purchased on 01/31/19 to be repurchased at $7,000,630, collateralized by non-agency mortgage-backed security, 4.27%, due 04/25/23, par and fair value of $12,827,170 and $7,490,000, respectively) (a)(f)		7,000		7,000,000

39

Schedule of Investments (unaudited) (continued)	iShares® Ultra Short-Term Bond ETF
January 31, 2019	(Percentages shown are based on Net Assets)

Security	Par (000)		Value
Merrill Lynch, 3.09%, 02/01/19 (Purchased on 01/31/19 to be repurchased at $7,000,601, collateralized by non-agency mortgage-backed security, 5.10%, due 06/01/33, par and fair value of $7,789,507 and $7,490,000, respectively) (a)(f)	$	7,000	$	7,000,000
Mizuho Securities USA Inc., 3.05%, 02/01/19 (Purchased on 01/31/19 to be repurchased at $6,000,508, collateralized by non-agency mortgage-backed security, 5.01%, due 11/03/22, par and fair value of $7,357,370 and $6,900,000, respectively) (a)(f)		6,000		6,000,000
Total Repurchase Agreements — 4.8% (Cost: $47,000,000)				47,000,000
Total Investments in Securities — 100.0% (Cost: $971,749,474)				972,307,145
Other Assets, Less Liabilities — (0.0)%				(88,419	)
Net Assets — 100.0%			$	972,218,726

^(a)  Variable or floating rate security. Rate shown is the rate in effect as of period-end.

^(b)  Security is issued at a fixed coupon rate, which converts to a variable rate at a specified date. Reference index and spread are provided if the rate is currently floating.

^(c)  Rates are discount rates or a range of discount rates at the time of purchase.

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

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

^(f)  Maturity date represents next reset date.

Affiliates

Investments in issuers considered to be affiliates of the Fund during the three months ended January 31, 2019, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Shares Held at 10/31/18 (000)		Net Activity (000)			Shares Held at 01/31/19 (000)		Value at 01/31/19		Income		Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)
BlackRock Cash Funds: Treasury, SL Agency Shares		2,193		(2,193	)		—	$	—	$	19,093	$	—	$	—

Fair Value Measurements

Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of January 31, 2019. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.

	Level 1		Level 2		Level 3		Total
Investments
Assets
Asset-Backed Securities	$	—	$	20,658,951	$	—	$	20,658,951
Certificates of Deposit		—		124,635,675		—		124,635,675
Commercial Paper		—		401,434,921		—		401,434,921
Corporate Bonds & Notes		—		371,599,858		6,977,740		378,577,598
Repurchase Agreements		—		47,000,000		—		47,000,000
	$	—	$	965,329,405	$	6,977,740	$	972,307,145

Portfolio Abbreviations - Fixed Income
LIBOR	London Interbank Offered Rate

40

Item 2. Controls and Procedures.

(a) The President (the registrant’s Principal Executive Officer) and Treasurer and Chief Financial Officer (the registrant’s Principal Financial Officer) have concluded that, based on their evaluation as of a date within 90 days of the filing date of this report, the disclosure controls and procedures of the registrant (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are reasonably designed to achieve the purposes described in Section 4(a) of the certifications filed with this Form N-Q.

(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

(a) Certifications of the President (the registrant’s Principal Executive Officer) and Treasurer and Chief Financial Officer (the registrant’s Principal Financial Officer) as required by Rule 30a-2(a) under the Investment Company Act of 1940 are filed with this Form N-Q as exhibits.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

iShares U.S. ETF Trust

By:	/s/ Martin Small
	Martin Small, President (Principal Executive Officer)
Date:	April 01, 2019

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ Martin Small
	Martin Small, President (Principal Executive Officer)
Date:	April 01, 2019
By:	/s/ Jack Gee
	Jack Gee, Treasurer and Chief Financial Officer (Principal Financial Officer)
Date:	April 01, 2019