Schedule of Investments (unaudited) April 30, 2021 iShares^® Evolved U.S. Innovative Healthcare ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Biotechnology — 44.4%
Abeona Therapeutics Inc.(a)		748	$	1,324
ACADIA Pharmaceuticals Inc.(a)		3,036		62,420
Acceleron Pharma Inc.(a)		1,452		181,456
Achillion Pharmaceuticals Inc.(a)(b)(c)		624		287
Acorda Therapeutics Inc.(a)		185		966
Adverum Biotechnologies Inc.(a)		1,671		6,517
Agenus Inc.(a)		1,914		5,914
Albireo Pharma Inc.(a)		457		14,670
Alder Biopharmaceuticals Inc.(a)(b)		312		275
Alexion Pharmaceuticals Inc.(a)		3,869		652,623
Allakos Inc.(a)		747		81,513
Allogene Therapeutics Inc.(a)		1,916		59,243
Alnylam Pharmaceuticals Inc.(a)		3,031		426,280
Amgen Inc.		6,518		1,561,974
Amicus Therapeutics Inc.(a)		7,101		69,874
AnaptysBio Inc.(a)		374		8,733
ANI Pharmaceuticals Inc.(a)		154		5,125
Apellis Pharmaceuticals Inc.(a)		1,852		93,841
Applied Therapeutics Inc.(a)		391		7,241
Aprea Therapeutics Inc.(a)		464		2,176
Arcturus Therapeutics Holdings Inc.(a)		478		17,524
Arcus Biosciences Inc.(a)		1,567		52,886
Ardelyx Inc.(a)		1,891		13,823
Arena Pharmaceuticals Inc.(a)		1,741		119,485
Arrowhead Pharmaceuticals Inc.(a)		2,450		178,262
Assembly Biosciences Inc.(a)		484		2,072
Atara Biotherapeutics Inc.(a)		2,136		30,032
Athersys Inc.(a)		5,414		9,041
Avrobio Inc.(a)		661		7,721
Axsome Therapeutics Inc.(a)		860		51,996
Beam Therapeutics Inc.(a)		571		46,822
BioCryst Pharmaceuticals Inc.(a)		5,142		59,827
Biogen Inc.(a)		3,235		864,813
Biohaven Pharmaceutical Holding Co. Ltd.(a)		790		59,329
BioMarin Pharmaceutical Inc.(a)		4,378		341,134
Bio-Rad Laboratories Inc., Class A(a)		44		27,726
Bluebird Bio Inc.(a)		2,195		65,850
Blueprint Medicines Corp.(a)		1,561		150,356
Bridgebio Pharma Inc.(a)		2,448		136,892
Calithera Biosciences Inc.(a)		2,414		5,238
Cara Therapeutics Inc.(a)		792		10,256
Celldex Therapeutics Inc.(a)		518		15,711
ChemoCentryx Inc.(a)		1,143		55,241
Chinook Therapeutics Inc.(a)		201		3,608
Constellation Pharmaceuticals Inc.(a)		615		13,296
Contra Aduro Biotech I(a)(b)		156		468
Cortexyme Inc.(a)		391		15,315
Crinetics Pharmaceuticals Inc.(a)		754		13,052
Cue Biopharma Inc.(a)		904		10,966
Cymabay Therapeutics Inc.(a)(c)		1,759		7,616
CytomX Therapeutics Inc.(a)		858		8,031
Deciphera Pharmaceuticals Inc.(a)		1,233		57,174
Denali Therapeutics Inc.(a)		2,251		136,050
Dicerna Pharmaceuticals Inc.(a)		1,516		47,284
Dynavax Technologies Corp.(a)		1,408		14,052
Editas Medicine Inc.(a)		1,446		53,516
Emergent BioSolutions Inc.(a)		881		53,723
Epizyme Inc.(a)(c)		2,089		16,315

Security	Shares		Value
Biotechnology (continued)
Esperion Therapeutics Inc.(a)		682	$	18,380
Exact Sciences Corp.(a)		1,300		171,366
Exelixis Inc.(a)		7,828		192,725
Fate Therapeutics Inc.(a)		1,873		163,681
FibroGen Inc.(a)		2,024		45,176
Frequency Therapeutics Inc.(a)		730		8,475
Geron Corp.(a)(c)		2,706		3,924
Gilead Sciences Inc.		24,687		1,566,884
Global Blood Therapeutics Inc.(a)(c)		1,651		67,328
GlycoMimetics Inc.(a)		1,013		2,431
Gossamer Bio Inc.(a)		1,408		12,165
Guardant Health Inc.(a)		877		139,425
Halozyme Therapeutics Inc.(a)(c)		3,500		174,825
Homology Medicines Inc.(a)		941		6,371
ImmunoGen Inc.(a)		4,178		33,675
Incyte Corp.(a)		2,198		187,665
Innoviva Inc.(a)		1,298		14,862
Inovio Pharmaceuticals Inc.(a)(c)		5,064		34,486
Insmed Inc.(a)		2,967		100,077
Intercept Pharmaceuticals Inc.(a)		747		14,776
Intra-Cellular Therapies Inc.(a)		1,744		60,046
Ionis Pharmaceuticals Inc.(a)		3,649		156,250
Iovance Biotherapeutics Inc.(a)		3,665		115,228
Kadmon Holdings Inc.(a)		4,904		19,910
Karuna Therapeutics Inc.(a)(c)		461		51,176
Karyopharm Therapeutics Inc.(a)(c)		2,064		19,278
Kiniksa Pharmaceuticals Ltd., Class A(a)		612		10,074
Kodiak Sciences Inc.(a)		748		90,388
Krystal Biotech Inc.(a)		306		24,309
Lexicon Pharmaceuticals Inc.(a)		1,166		5,667
Ligand Pharmaceuticals Inc.(a)		462		67,401
MacroGenics Inc.(a)		1,475		47,731
MEI Pharma Inc.(a)		3,692		13,476
Mersana Therapeutics Inc.(a)		1,756		27,973
Mirati Therapeutics Inc.(a)		1,106		183,839
Moderna Inc.(a)		8,578		1,533,918
Molecular Templates Inc.(a)		993		9,295
Myriad Genetics Inc.(a)		770		23,269
Nektar Therapeutics(a)		5,214		102,247
NextCure Inc.(a)		372		3,262
Novavax Inc.(a)(c)		1,338		317,012
Omeros Corp.(a)		1,034		18,260
Pieris Pharmaceuticals Inc.(a)		1,408		3,041
Precigen Inc.(a)(c)		968		7,488
Prothena Corp. PLC(a)		966		25,638
Provention Bio Inc.(a)		1,116		8,024
PTC Therapeutics Inc.(a)		1,430		58,930
Puma Biotechnology Inc.(a)		858		8,460
Radius Health Inc.(a)		1,100		24,530
Regeneron Pharmaceuticals Inc.(a)		2,420		1,164,746
REGENXBIO Inc.(a)		748		25,948
Replimune Group Inc.(a)		643		23,527
Rigel Pharmaceuticals Inc.(a)		3,938		14,649
Rocket Pharmaceuticals Inc.(a)(c)		573		26,266
Rubius Therapeutics Inc.(a)		901		22,543
Sage Therapeutics Inc.(a)		1,436		113,099
Sangamo Therapeutics Inc.(a)		3,476		40,947
Scholar Rock Holding Corp.(a)		724		23,421
Seagen Inc.(a)		3,235		465,064
Solid Biosciences Inc.(a)		353		1,797

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Schedule of Investments (unaudited) (continued) April 30, 2021 iShares^® Evolved U.S. Innovative Healthcare ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
Biotechnology (continued)
Sorrento Therapeutics Inc.(a)		5,654	$	46,532
Stoke Therapeutics Inc.(a)		442		14,277
Syndax Pharmaceuticals Inc.(a)		1,057		16,849
TG Therapeutics Inc.(a)		2,370		105,963
Theravance Biopharma Inc.(a)		1,076		21,240
Translate Bio Inc.(a)		1,211		28,119
Travere Therapeutics Inc.(a)		1,034		25,561
Turning Point Therapeutics Inc.(a)		969		73,867
Ultragenyx Pharmaceutical Inc.(a)		1,477		164,892
United Therapeutics Corp.(a)		1,034		208,413
UroGen Pharma Ltd.(a)		353		6,866
Vaxart Inc.(a)(c)		1,751		18,876
Vericel Corp.(a)		527		32,895
Vertex Pharmaceuticals Inc.(a)		5,747		1,253,995
Viking Therapeutics Inc.(a)		1,428		9,125
Vir Biotechnology Inc.(a)		1,469		70,130
WaVe Life Sciences Ltd.(a)		462		2,841
Xencor Inc.(a)		1,320		56,179
Y-mAbs Therapeutics Inc.(a)		638		19,185
ZIOPHARM Oncology Inc.(a)		3,344		11,570
				16,119,154
Chemicals — 0.1%
Codexis Inc.(a)		991		22,971
Electrical Components & Equipment — 0.2%
Universal Display Corp.		308		68,897
Health Care - Products — 4.2%
10X Genomics Inc., Class A(a)		510		100,878
Abbott Laboratories		464		55,717
Adaptive Biotechnologies Corp.(a)		1,382		57,491
Axogen Inc.(a)		308		5,766
Baxter International Inc.		2,081		178,321
CareDx Inc.(a)		376		29,730
Cerus Corp.(a)		3,318		20,240
Cooper Companies Inc. (The)		193		79,302
Glaukos Corp.(a)		572		53,860
Haemonetics Corp.(a)		286		19,236
ICU Medical Inc.(a)		110		22,910
IDEXX Laboratories Inc.(a)		72		39,527
Inspire Medical Systems Inc.(a)		246		58,258
Insulet Corp.(a)		175		51,664
Integra LifeSciences Holdings Corp.(a)		374		27,706
Intersect ENT Inc.(a)		396		8,637
Intuitive Surgical Inc.(a)		46		39,790
Lantheus Holdings Inc.(a)(c)		1,142		27,065
NanoString Technologies Inc.(a)		392		31,231
Natera Inc.(a)		418		45,988
Nevro Corp.(a)		308		53,225
Novocure Ltd.(a)		1,344		274,310
Penumbra Inc.(a)		111		33,965
Repligen Corp.(a)		640		135,494
ResMed Inc.		350		65,790
				1,516,101
Health Care - Services — 1.8%
Catalent Inc.(a)		1,580		177,703
Charles River Laboratories International Inc.(a)		463		153,924
IQVIA Holdings Inc.(a)		906		212,629
Medpace Holdings Inc.(a)		219		37,160
OPKO Health Inc.(a)		5,038		20,656

Security	Shares		Value
Health Care - Services (continued)
Syneos Health Inc.(a)		616	$	52,268
				654,340
Pharmaceuticals — 48.5%
AbbVie Inc.		19,461		2,169,902
Aclaris Therapeutics Inc.(a)		748		17,840
Adamas Pharmaceuticals Inc.(a)		506		2,854
Aeglea BioTherapeutics Inc.(a)		1,431		11,133
Aerie Pharmaceuticals Inc.(a)		990		16,959
Agios Pharmaceuticals Inc.(a)		1,780		99,324
Akebia Therapeutics Inc.(a)		4,510		14,387
Alector Inc.(a)		1,762		34,359
Alkermes PLC(a)		3,697		81,352
AmerisourceBergen Corp.		434		52,427
Amneal Pharmaceuticals Inc.(a)		2,949		16,249
Amphastar Pharmaceuticals Inc.(a)		726		12,632
Anika Therapeutics Inc.(a)		220		8,840
Antares Pharma Inc.(a)		3,256		12,340
Arvinas Inc.(a)		570		39,296
Athenex Inc.(a)		1,783		7,150
Bausch Health Companies Inc.(a)(c)		4,884		157,118
Bioxcel Therapeutics Inc.(a)		358		12,161
Bristol-Myers Squibb Co.		26,729		1,668,424
Catalyst Pharmaceuticals Inc.(a)		1,651		7,562
Clovis Oncology Inc.(a)		1,276		7,579
Coherus Biosciences Inc.(a)		1,693		25,056
Collegium Pharmaceutical Inc.(a)		594		13,246
Concert Pharmaceuticals Inc.(a)		528		2,191
Corbus Pharmaceuticals Holdings Inc.(a)(c)		1,232		2,218
Corcept Therapeutics Inc.(a)		2,420		55,152
Cyclerion Therapeutics Inc.(a)		330		719
Cytokinetics Inc.(a)		1,188		30,223
DexCom Inc.(a)		355		137,066
Eagle Pharmaceuticals Inc./DE(a)		308		12,576
Elanco Animal Health Inc.(a)		4,551		144,312
Eli Lilly & Co.		9,629		1,759,892
Enanta Pharmaceuticals Inc.(a)		374		18,977
Endo International PLC(a)		3,282		18,806
Flexion Therapeutics Inc.(a)		858		6,658
G1 Therapeutics Inc.(a)		484		10,198
Heron Therapeutics Inc.(a)		1,804		31,534
Horizon Therapeutics PLC(a)		5,064		479,156
Intellia Therapeutics Inc.(a)		1,370		105,175
Ironwood Pharmaceuticals Inc.(a)		3,300		36,432
Jazz Pharmaceuticals PLC(a)		1,478		242,983
Johnson & Johnson		21,962		3,573,876
Jounce Therapeutics Inc.(a)		396		3,734
Kala Pharmaceuticals Inc.(a)(c)		1,346		10,405
Kura Oncology Inc.(a)		1,601		43,115
La Jolla Pharmaceutical Co.(a)(c)		506		2,247
Lannett Co. Inc.(a)		638		2,788
Madrigal Pharmaceuticals Inc.(a)		218		29,670
MediciNova Inc.(a)		902		3,960
Merck & Co. Inc.		28,473		2,121,239
Neurocrine Biosciences Inc.(a)		2,507		236,886
Ocular Therapeutix Inc.(a)		1,787		32,845
Odonate Therapeutics Inc.(a)		352		1,179
Pacira BioSciences Inc.(a)		836		52,818
Paratek Pharmaceuticals Inc.(a)		682		5,217
Perrigo Co. PLC		1,734		72,186
Pfizer Inc.		57,509		2,222,723

2

Schedule of Investments (unaudited) (continued) April 30, 2021 iShares^® Evolved U.S. Innovative Healthcare ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
Pharmaceuticals (continued)
PRA Health Sciences Inc.(a)		638	$	106,476
Prestige Consumer Healthcare Inc.(a)		352		15,333
Progenics Pharmaceuticals Inc.(a)(b)(c)		1,001		—
Protagonist Therapeutics Inc.(a)		1,012		29,287
Reata Pharmaceuticals Inc., Class A(a)(c)		683		69,256
Relmada Therapeutics Inc.(a)		352		13,573
Revance Therapeutics Inc.(a)		1,721		50,116
Rhythm Pharmaceuticals Inc.(a)		966		20,827
Sarepta Therapeutics Inc.(a)		1,897		134,383
Seres Therapeutics Inc.(a)		1,304		27,136
Spectrum Pharmaceuticals Inc.(a)		2,457		7,641
Supernus Pharmaceuticals Inc.(a)		1,210		36,845
Synergy Pharmaceuticals Inc.(a)(c)		1,136		7
Syros Pharmaceuticals Inc.(a)		1,273		7,689
TherapeuticsMD Inc.(a)		3,520		4,259
Tricida Inc.(a)		704		3,274
Vanda Pharmaceuticals Inc.(a)		1,232		20,451
Viatris Inc.(a)		14,342		190,749
Voyager Therapeutics Inc.(a)		704		3,393
Zoetis Inc.		4,999		864,977
Zogenix Inc.(a)(c)		1,584		29,922
				17,632,940
Telecommunications — 0.0%
InterDigital Inc.		198		13,745
Total Common Stocks — 99.2% (Cost: $31,949,275)				36,028,148

Security	Shares		Value
Short-Term Investments
Money Market Funds — 3.4%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.08%(d)(e)(f)		982,888	$	983,379
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(d)(e)		252,000		252,000
				1,235,379
Total Short-Term Investments — 3.4% (Cost: $1,235,330)				1,235,379
Total Investments in Securities — 102.6% (Cost: $33,184,605)				37,263,527
Other Assets, Less Liabilities — (2.6)%				(940,415	)
Net Assets — 100.0%			$	36,323,112

^(a)  Non-income producing security.

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

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

^(d)  Affiliate of the Fund.

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

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

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended April 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at 07/31/20		Purchases at Cost			Proceeds from Sales		Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Value at 04/30/21		Shares Held at 04/30/21		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL Agency Shares	$	432,025	$	551,865	(a)	$	—	$	(409	)	$	(102	)	$	983,379		982,888	$	8,289	(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		102,000		150,000	(a)		—		—			—			252,000		252,000		280			—
								$	(409	)	$	(102	)	$	1,235,379			$	8,569		$	—

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

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

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.

3

Schedule of Investments (unaudited) (continued) April 30, 2021 iShares^® Evolved U.S. Innovative Healthcare ETF

Fair Value Measurements (continued)

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of April 30, 2021. 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
Common Stocks	$	36,027,118	$	—	$	1,030	$	36,028,148
Money Market Funds		1,235,379		—		—		1,235,379
	$	37,262,497	$	—	$	1,030	$	37,263,527

4