Schedule of Investments  (unaudited)  January 31, 2020 iShares^® Inflation Hedged Corporate Bond ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
Investment Companies
Exchange-Traded Funds — 95.1%
iShares iBoxx $ Investment Grade Corporate Bond ETF(a)		59,229	$	7,764,330
Total Investment Companies — 95.1% (Cost: $6,789,078)				7,764,330
Short-Term Investments
Money Market Funds — 0.5%
BlackRock Cash Funds: Treasury, SL Agency Shares,     1.50%(a)(b)		40,000		40,000
Total Short-Term Investments — 0.5% (Cost: $40,000)				40,000
Total Investments in Securities — 95.6% (Cost: $6,829,078)				7,804,330
Other Assets, Less Liabilities — 4.4%				360,265
Net Assets — 100.0%			$	8,164,595

^(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, 2020, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Shares Held at 10/31/19	Shares Purchased		Shares Sold		Shares Held at 01/31/20		Value at 01/31/20		Income			Net Realized Gain (Loss)	(a)		Change in Unrealized Appreciation (Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares	—	0	(b)	—		—	$	—	$	1,050	(c)	$	(302	)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares	118,000	—		(78,000	)(b)	40,000		40,000		1,905			—			—
iShares iBoxx $ Investment Grade Corporate Bond ETF	58,664	565		—		59,229		7,764,330		60,267			—			200,077
							$	7,804,330	$	63,222		$	(302	)	$	200,077

^(a)  Includes realized capital gain distributions from an affiliated fund, if any.

^(b)  Net of purchases and sales.

^(c)  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.

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		2			03/20/20	$	291		$	5,685
Ultra Long U.S. Bond		2			03/20/20		388			19,809
										25,494
Short Contract
U.S. Treasury Long Bond		(1	)		03/20/20		(164	)		(6,814	)
									$	18,680

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Schedule of Investments  (unaudited) (continued) January 31, 2020 iShares^® Inflation Hedged Corporate Bond ETF

Centrally Cleared Inflation Swaps

Paid by the Fund		Received by the Fund		Termination Date		Notional Amount (000)			Value			Upfront Premium Paid (Received)			Unrealized Appreciation (Depreciation)
Rate	Frequency	Reference	Frequency
		U.S. CPI Urban
2.21%	At Termination	Consumers NSA	At Termination		05/15/21	$	(239	)	$	(3,780	)	$	(1,635	)	$	(2,145	)
		U.S. CPI Urban
2.29	At Termination	Consumers NSA	At Termination		05/15/23		(3,084	)		(94,923	)		(14,054	)		(80,869	)
		U.S. CPI Urban
2.37	At Termination	Consumers NSA	At Termination		05/15/28		(2,454	)		(149,708	)		57			(149,765	)
		U.S. CPI Urban
2.19	At Termination	Consumers NSA	At Termination		12/03/28		(2,733	)		(110,645	)		(60,637	)		(50,008	)
		U.S. CPI Urban
2.40	At Termination	Consumers NSA	At Termination		05/15/48		(352	)		(59,456	)		(28,482	)		(30,974	)
		U.S. CPI Urban
1.83	At Termination	Consumers NSA	At Termination		10/18/49		(97	)		3,665			1,705			1,960
									$	(414,847	)	$	(103,046	)	$	(311,801	)

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 iShares.com and on the U.S. Securities and Exchange Commission website at sec.gov.

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of January 31, 2020. 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	$	7,764,330		$	—		$	—	$	7,764,330
Money Market Funds		40,000			—			—		40,000
	$	7,804,330		$	—		$	—	$	7,804,330
Derivative financial instruments(a)
Assets
Futures Contracts	$	25,494		$	—		$	—	$	25,494
Swaps		—			1,960			—		1,960
Liabilities
Swaps		—			(313,761	)		—		(313,761	)
Futures Contracts		(6,814	)		—			—		(6,814	)
	$	18,680		$	(311,801	)	$	—	$	(293,121	)

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

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