Consolidated Schedule of Investments  (unaudited)  July 31, 2020 iShares^® Commodities Select Strategy ETF (Percentages shown are based on Net Assets)

Security	Par		Value
Short-Term Investments
Certificates of Deposit — 7.4%
Bank of Montreal/Chicago IL, 0.53%, 02/12/21, (3 mo. LIBOR US + 0.100%)(a)	$	3,800,000	$	3,800,594
Barclays Bank PLC, 0.60%, 12/15/20		4,000,000		4,004,390
Oversea-Chinese Banking Corp. Ltd., 1.87%, 08/04/20		5,000,000		5,000,988
Sumitomo Mitsui Trust Bank Ltd./New York, 0.25%, 12/21/20		1,300,000		1,299,969
				14,105,941
Commercial Paper — 69.1%
ABN AMRO Funding USA LLC, 1.88%, 08/10/20(b)		5,000,000		4,999,768
American Electric Power Co. Inc., 0.20%, 08/27/20(b)		5,000,000		4,999,250
American Honda Finance Corp., 0.78%, 10/21/20(b)		5,500,000		5,492,834
Antalis SA, 0.30%, 10/07/20(b)		2,000,000		1,999,256
BASF SE, 0.34%, 09/28/20(b)		7,725,000		7,720,708
Bell Canada, 0.25%, 09/23/20(b)		3,000,000		2,998,218
Caisse des Depots et Consignations, 0.27%, 09/08/20(b) .		5,000,000		4,999,567
Crown Point Capital Co. LLC, 0.27%, 12/01/20(b)		1,500,000		1,498,708
Duke Energy Corp.
0.25%, 09/17/2020(b)		8,000,000		7,997,312
0.32%, 10/21/2020(b)		750,000		749,447
DZ BANK AG Deutsche Zentral-Genossenschaftsbank, 0.11%, 09/08/20(b)		6,000,000		5,999,272
Erste Abwicklungsanstalt, 0.15%, 10/08/20(b)		7,900,000		7,897,804
KFW International Finance Inc., 0.23%, 02/25/21(b)		1,000,000		998,729
Koch Inds Inc.
0.30%, 09/22/2020(b)		1,750,000		1,749,678
0.30%, 09/23/2020(b)		1,250,000		1,249,764
Matchpoint Finance PLC, 0.30%, 09/21/20(b)		5,000,000		4,998,707
MetLife Short Term Funding, 0.20%, 01/19/21(b)		600,000		599,260
Mizuho Bank Ltd.
0.15%, 09/01/2020(b)		2,400,000		2,399,691
0.31%, 02/18/2021(b)		2,000,000		1,996,499
Mont Blanc Capital Corp.
0.25%, 10/05/2020(b)		5,000,000		4,998,038
0.27%, 09/15/2020(b)		3,057,000		3,056,254
MUFG Bank Ltd., 0.22%, 11/24/20(b)		1,000,000		999,240
Nederlandse Waterschapsbank NV, 0.18%, 10/09/20(b)		8,500,000		8,496,975
Nutrien Ltd., 0.55%, 09/15/20(b)		4,690,000		4,688,520
OMERS Finance Trust, 0.11%, 08/18/20(b)		4,000,000		3,999,780
Oversea-Chinese Banking Corp. Ltd., 0.20%, 09/18/20(b) .		2,000,000		1,999,445

Security	Par/ Shares		Value
Commercial Paper (continued)
Parker-Hannifin Corp.
0.11%, 08/17/2020(b)	$	1,800,000	$	1,799,909
0.12%, 08/21/2020(b)		5,000,000		4,999,650
PSP Capital Inc., 0.22%, 01/13/21(b)		1,000,000		998,820
Queensland Treasury
0.20%, 02/02/2021(b)		1,000,000		998,822
0.21%, 01/21/2021(b)		4,450,000		4,445,268
Skandinaviska Enskilda Banken AB
0.13%, 09/16/2020(b)		2,000,000		1,999,650
0.17%, 10/14/2020(b)		3,650,000		3,648,707
Sumitomo Mitsui Banking Corp./New York, 0.30%, 02/04/21(b)		1,500,000		1,497,587
Suncor Group Ltd., 0.30%, 08/26/20(b)		1,200,000		1,199,744
Swedbank AB, 0.22%, 12/18/20(b)		1,000,000		999,211
Total Capital Canada Ltd., 0.44%, 08/19/20(b)		3,000,000		2,999,853
Versailles CDS LLC, 0.25%, 11/02/20(b)		900,000		899,452
Virginia Electric & Power Co., 0.40%, 09/22/20(b)		6,600,000		6,596,162
				132,665,559
U.S. Treasury Obligations — 13.6%
U.S. Treasury Bill
0.10%, 09/01/20(b)		11,800,000		11,799,097
0.10%, 10/13/20(b)		6,400,000		6,398,801
U.S. Treasury Bills, 0.16%, 12/31/20(b)		8,000,000		7,996,333
				26,194,231
Money Market Funds — 2.9%
BlackRock Cash Funds: Treasury, SL Agency Shares,     0.12%(c)(d)		5,525,095		5,525,095
Total Short-Term Investments — 93.0% (Costs: $178,474,684)				178,490,826
Total Investments in Securities — 93.0% (Cost: $178,474,684)				178,490,826
Other Assets, Less Liabilities — 7.0%				13,448,880
Net Assets — 100.0%			$	191,939,706

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

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

^(c)  Affiliate of the Fund.

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

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Consolidated Schedule of Investments  (unaudited) (continued) July 31, 2020 iShares^® Commodities Select Strategy  ETF

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended July 31, 2020, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer		Value at 10/31/19		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Value at 07/31/20	Shares Held at 07/31/20		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL Agency Shares(a)	$	5,857,749	$	—	$	(5,858,260	)(b)	$	1,083	$	(572	)	$	—	—	$	9,764	(c)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		74,727,000		—		(69,201,905	)(b)		—		—			5,525,095	5,525,095		728,813			—
								$	1,083	$	(572	)	$	5,525,095		$	738,577		$	—

^(a)  As of period end, the entity is no longer held.

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

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

Futures Contracts

Description	Number of Contracts		Expiration Date		Notional Amount (000)		Value/ Unrealized Appreciation (Depreciation)
Long Contracts
Aluminum		177		12/15/21	$	7,923	$	(230,982	)
Brent Crude Oil		628		10/31/23		31,469		3,188,566
Cattle Feeder		40		10/29/20		2,933		168,310
Cocoa		34		09/15/20		816		33,212
Coffee		38		03/19/21		1,755		(7,516	)
Copper		64		10/19/20		10,263		15,585
Corn		579		12/14/21		10,494		(352,552	)
Cotton		79		12/08/20		2,475		91,907
Gasoline RBOB		140		09/30/20		6,472		1,568,859
Gold 100 OZ		69		06/28/21		13,881		1,028,371
Lead		31		09/14/20		1,452		20,868
Lean Hogs		165		10/14/20		3,275		(1,025,382	)
Live Cattle		189		12/31/20		8,433		293,242
Low Sulphur Gasoil		220		12/10/21		8,993		257,906
Natural Gas		256		03/29/21		6,543		837,199
Nickel		23		12/14/20		1,906		111,401
NY Harb ULSD		116		05/28/21		6,476		1,010,124
Silver		12		12/29/20		1,468		377,430
Soybean		158		03/12/21		7,075		252,294
Sugar		248		04/30/21		3,586		95,304
Wheat		261		09/14/20		6,933		223,404
Wheat		122		09/14/20		2,699		(136,540	)
WTI Crude Oil		978		10/20/21		42,347		809,303
Zinc		39		12/14/20		2,266		121,717
							$	8,752,030

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 July 31, 2020. The breakdown of the Fund’s investments into major categories is disclosed in the Consolidated Schedule of Investments above.

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Consolidated Schedule of Investments  (unaudited) (continued) July 31, 2020 iShares^® Commodities Select Strategy  ETF

Fair Value Measurements (continued)

	Level 1			Level 2		Level 3		Total
Investments
Assets
Certificates of Deposit	$	—		$	14,105,941	$	—	$	14,105,941
Commercial Paper		—			132,665,559		—		132,665,559
U.S. Treasury Obligations		—			26,194,231		—		26,194,231
Money Market Funds		5,525,095			—		—		5,525,095
	$	5,525,095		$	172,965,731	$	—	$	178,490,826
Derivative financial instruments(a)
Assets
Futures Contracts	$	10,505,002		$	—	$	—	$	10,505,002
Liabilities
Futures Contracts		(1,752,972	)		—		—		(1,752,972	)
	$	8,752,030		$	—	$	—	$	8,752,030

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

Portfolio Abbreviations — Fixed Income
LIBOR	London Interbank Offered Rate

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