Schedule

Investments

(unaudited)

October

31,

2022

iShares

Evolved

U.S.

Discretionary

Spending

ETF

(Percentages

shown

are

based

Net

Assets)

Security

Value

Common

Stocks

Air

Freight

Logistics

—

0.4%

FedEx

Corp.

......................

294

47,122

Airlines

—

0.2%

(a)

Alaska

Air

Group,

Inc.

................

182

8,092

JetBlue

Airways

Corp.

................

483

3,883

Southwest

Airlines

Co.

...............

227

8,251

20,226

Beverages

—

0.3%

Constellation

Brands,

Inc.,

Class

.......

136

33,603

Building

Products

—

0.1%

American

Woodmark

Corp.

(a)

...........

1,270

Masco

Corp.

......................

286

13,233

14,503

Chemicals

—

0.1%

Scotts

Miracle-

Gro

Co.

(The)

...........

2,571

Valvoline,

Inc.

.....................

294

8,632

11,203

Commercial

Services

Supplies

—

0.6%

Cintas

Corp.

......................

126

53,872

Rentokil

Initial

plc,

ADR

...............

353

10,922

Rollins,

Inc.

.......................

315

13,255

UniFirst

Corp.

.....................

5,152

83,201

Consumer

Finance

—

0.1%

FirstCash

Holdings,

Inc.

..............

133

13,094

LendingTree

Inc.

(a)

..................

227

PROG

Holdings,

Inc.

(a)

...............

234

3,866

17,187

Distributors

—

0.5%

Genuine

Parts

Co.

..................

217

38,596

LKQ

Corp.

.......................

191

10,627

Pool

Corp.

.......................

20,079

69,302

Diversified

Consumer

Services

—

0.2%

Bright

Horizons

Family

Solutions,

Inc.

(a)

....

2,286

Grand

Canyon

Education,

Inc.

(a)

.........

6,339

H&R

Block,

Inc.

....................

392

16,131

International,

Inc.

(a)(b)

.............

285

25,041

Diversified

Financial

Services

—

0.0%

Cannae

Holdings,

Inc.

(a)

..............

105

2,432

Entertainment

—

0.3%

AMC

Entertainment

Holdings,

Inc.,

Class

(a)(b)

1,303

8,678

Cinemark

Holdings,

Inc.

(a)

.............

224

2,377

Live

Nation

Entertainment,

Inc.

(a)

........

315

25,077

Madison

Square

Garden

Sports

Corp.

.....

5,481

Take-Two

Interactive

Software,

Inc.

(a)

......

3,910

45,523

Equity

Real

Estate

Investment

Trusts

(REITs)

—

0.2%

Apple

Hospitality

REIT,

Inc.

............

294

5,033

Host

Hotels

Resorts,

Inc.

............

931

17,577

Macerich

Co.

(The)

.................

203

2,259

Park

Hotels

Resorts,

Inc.

............

210

2,747

Ryman

Hospitality

Properties,

Inc.

.......

4,980

32,596

Security

Value

Food

Staples

Retailing

—

16.7%

BJ's

Wholesale

Club

Holdings,

Inc.

(a)

......

491

38,003

Casey's

General

Stores,

Inc.

...........

147

34,208

Costco

Wholesale

Corp.

..............

1,848

926,772

Grocery

Outlet

Holding

Corp.

(a)

..........

394

13,621

Kroger

Co.

(The)

...................

3,095

146,363

Performance

Food

Group

Co.

(a)

.........

269

13,999

PriceSmart

Inc.

....................

6,269

Sprouts

Farmers

Market,

Inc.

(a)

..........

441

13,010

Sysco

Corp.

......................

489

42,328

Foods

Holding

Corp.

(a)

.............

378

11,249

Walgreens

Boots

Alliance,

Inc.

..........

1,712

62,488

Walmart,

Inc.

......................

6,149

875,187

2,183,497

Food

Products

—

0.1%

Beyond

Meat,

Inc.

(a)(b)

................

926

Flowers

Foods,

Inc.

.................

315

9,044

Freshpet

Inc.

(a)

....................

4,068

14,038

Hotels,

Restaurants

Leisure

—

15.3%

Airbnb,

Inc.,

Class

(a)

................

748

79,969

Aramark

.........................

560

20,440

BJ's

Restaurants,

Inc.

(a)

...............

2,070

Bloomin

Brands,

Inc.

................

336

8,067

Booking

Holdings,

Inc.

(a)

..............

138,341

Boyd

Gaming

Corp.

.................

145

8,375

Brinker

International,

Inc.

(a)

............

185

6,177

Caesars

Entertainment,

Inc.

(a)

..........

458

20,028

Carnival

Corp.

(a)

....................

1,830

16,580

Cheesecake

Factory,

Inc.

(The)

.........

147

5,264

Chipotle

Mexican

Grill,

Inc.

(a)

...........

119,866

Choice

Hotels

International,

Inc.

.........

112

14,542

Churchill

Downs,

Inc.

................

14,346

Cracker

Barrel

Old

Country

Store,

Inc.

.....

11,194

Darden

Restaurants,

Inc.

.............

469

67,133

Dave

Buster's

Entertainment,

Inc.

(a)

.....

148

5,898

Domino's

Pizza,

Inc.

.................

145

48,175

DraftKings

Inc.,

Class

(a)

.............

416

6,573

Expedia

Group,

Inc.

(a)

................

260

24,302

Hilton

Grand

Vacations,

Inc.

(a)

..........

147

5,768

Hilton

Worldwide

Holdings,

Inc.

.........

775

104,826

Hyatt

Hotels

Corp.,

Class

(a)

...........

112

10,551

Jack

the

Box,

Inc.

.................

6,970

Las

Vegas

Sands

Corp.

(a)

.............

916

34,817

Light

Wonder,

Inc.,

Class

(a)

..........

4,323

Marriott

International,

Inc.,

Class

.......

500

80,055

Marriott

Vacations

Worldwide

Corp.

.......

9,161

McDonald's

Corp.

..................

1,816

495,151

MGM

Resorts

International

............

774

27,531

Norwegian

Cruise

Line

Holdings

Ltd.

(a)

.....

639

10,793

Papa

John's

International,

Inc.

..........

5,956

Penn

Entertainment,

Inc.

(a)

.............

234

7,745

Planet

Fitness,

Inc.,

Class

(a)

..........

364

23,835

Red

Rock

Resorts,

Inc.,

Class

.........

203

8,455

Royal

Caribbean

Cruises

Ltd.

(a)

.........

274

14,626

Ruth's

Hospitality

Group,

Inc.

...........

126

2,618

Shake

Shack,

Inc.,

Class

(a)

...........

4,668

Six

Flags

Entertainment

Corp.

(a)

.........

119

2,654

Starbucks

Corp.

....................

2,579

223,316

Texas

Roadhouse,

Inc.

...............

252

24,935

Travel

Leisure

Co.

.................

287

10,900

Vail

Resorts,

Inc.

...................

19,941

Wendy's

Co.

(The)

..................

595

12,364

Wingstop

Inc.

.....................

13,305

Schedule

Investments

(unaudited)

(continued)

October

31,

2022

iShares

Evolved

U.S.

Discretionary

Spending

ETF

(Percentages

shown

are

based

Net

Assets)

Security

Value

Hotels,

Restaurants

Leisure

(continued)

Wyndham

Hotels

Resorts,

Inc.

........

335

25,437

Wynn

Resorts

Ltd.

(a)

.................

175

11,182

Yum

China

Holdings,

Inc.

.............

1,200

49,620

Yum!

Brands,

Inc.

..................

1,035

122,389

1,991,232

Household

Durables

—

0.3%

Helen

Troy

Ltd.

(a)

.................

3,406

La-Z-Boy,

Inc.

.....................

126

3,121

Newell

Brands,

Inc.

.................

663

9,156

Taylor

Morrison

Home

Corp.

(a)

..........

140

3,688

Tempur

Sealy

International,

Inc.

.........

476

12,800

Toll

Brothers,

Inc.

...................

182

7,840

Tupperware

Brands

Corp.

(a)

............

595

40,606

Household

Products

—

2.8%

Colgate-Palmolive

Co.

...............

5,390

Kimberly-Clark

Corp.

................

182

22,652

Procter

Gamble

Co.

(The)

...........

2,503

337,079

365,121

Interactive

Media

Services

—

0.2%

(a)

Cars.com,

Inc.

.....................

105

1,457

Match

Group,

Inc.

..................

2,851

Pinterest,

Inc.,

Class

...............

1,033

25,412

29,720

Internet

Direct

Marketing

Retail

—

15.4%

Amazon.com,

Inc.

(a)

.................

17,920

1,835,725

Chewy,

Inc.,

Class

(a)(b)

..............

158

6,119

DoorDash

Inc.,

Class

(a)

.............

541

23,550

eBay,

Inc.

........................

862

34,342

Etsy,

Inc.

(a)

.......................

203

19,064

Groupon,

Inc.

(a)

....................

309

MercadoLibre

Inc.

(a)

.................

76,637

Overstock.com,

Inc.

(a)

................

2,023

Qurate

Retail,

Inc.

..................

370

866

Stitch

Fix,

Inc.,

Class

(a)

..............

384

Wayfair,

Inc.,

Class

(a)(b)

..............

288

10,921

2,009,940

Services

—

1.2%

Block,

Inc.,

Class

(a)

................

438

26,311

Euronet

Worldwide,

Inc.

(a)

.............

5,881

Mastercard

Inc.,

Class

..............

143

46,930

PayPal

Holdings,

Inc.

(a)

...............

220

18,387

Visa,

Inc.,

Class

(b)

.................

262

54,276

151,785

Leisure

Products

—

0.3%

Hasbro,

Inc.

......................

168

10,962

Mattel,

Inc.

(a)

......................

530

10,049

Peloton

Interactive,

Inc.,

Class

(a)

.......

508

4,267

Polaris,

Inc.

.......................

4,978

YETI

Holdings,

Inc.

(a)

................

171

5,486

35,742

Media

—

0.1%

Interpublic

Group

Cos.,

Inc.

(The)

......

377

11,231

Multiline

Retail

—

7.0%

Big

Lots,

Inc.

......................

217

4,095

Dollar

General

Corp.

................

1,092

278,515

Dollar

Tree,

Inc.

(a)

...................

1,065

168,802

Kohl's

Corp.

......................

799

23,930

Macy's,

Inc.

......................

1,060

22,101

Nordstrom,

Inc.

....................

547

11,126

Security

Value

Multiline

Retail

(continued)

Ollie's

Bargain

Outlet

Holdings,

Inc.

(a)

.....

285

15,960

Target

Corp.

......................

2,341

384,509

909,038

Oil,

Gas

Consumable

Fuels

—

1.1%

ConocoPhillips

....................

1,102

138,951

Personal

Products

—

1.0%

Coty,

Inc.,

Class

(a)

.................

279

1,872

Estee

Lauder

Cos.,

Inc.

(The),

Class

....

626

125,507

Herbalife

Nutrition

Ltd.

(a)

..............

166

3,529

Inter

Parfums

Inc.

..................

4,368

135,276

Professional

Services

—

0.1%

ManpowerGroup

Inc.

................

105

8,226

Real

Estate

Management

Development

—

0.0%

RE/MAX

Holdings,

Inc.,

Class

.........

1,421

Road

Rail

—

0.5%

(a)

Avis

Budget

Group,

Inc.

..............

16,788

Lyft,

Inc.,

Class

...................

345

5,051

Uber

Technologies,

Inc.

...............

1,600

42,512

64,351

Software

—

0.1%

Intuit,

Inc.

........................

14,963

Specialty

Retail

—

25.3%

Abercrombie

Fitch

Co.,

Class

(a)

.......

363

6,382

Academy

Sports

Outdoors,

Inc.

........

305

13,429

Advance

Auto

Parts,

Inc.

..............

252

47,860

American

Eagle

Outfitters,

Inc.

..........

819

9,304

AutoNation,

Inc.

(a)

...................

147

15,628

AutoZone,

Inc.

(a)

...................

195,032

Bath

Body

Works,

Inc.

..............

1,098

36,651

Bed

Bath

Beyond,

Inc.

(a)

.............

675

3,085

Best

Buy

Co.,

Inc.

..................

743

50,829

Boot

Barn

Holdings,

Inc.

(a)

.............

151

8,577

Buckle,

Inc.

(The)

..................

133

5,231

Burlington

Stores,

Inc.

(a)

..............

318

45,461

CarMax,

Inc.

(a)

.....................

423

26,653

Carvana

Co.,

Class

(a)

...............

184

2,489

Dick's

Sporting

Goods,

Inc.

............

302

34,355

Five

Below,

Inc.

(a)

...................

273

39,954

Floor

Decor

Holdings,

Inc.,

Class

(a)

....

382

28,027

Foot

Locker,

Inc.

...................

448

14,202

GameStop

Corp.,

Class

(a)(b)

...........

854

24,177

Gap,

Inc.

(The)

....................

1,463

16,488

Home

Depot,

Inc.

(The)

..............

3,667

1,085,909

Leslie's,

Inc.

(a)

.....................

288

4,043

Lithia

Motors,

Inc.,

Class

............

9,709

Lowe's

Cos.,

Inc.

...................

2,275

443,511

Monro

Inc.

.......................

119

5,682

Murphy

USA,

Inc.

..................

26,419

National

Vision

Holdings,

Inc.

(a)

.........

175

6,482

O'Reilly

Automotive,

Inc.

(a)

.............

279

233,570

Rent-A-Center,

Inc.

.................

202

4,212

(a)

...........................

20,060

Ross

Stores,

Inc.

...................

1,648

157,697

Sally

Beauty

Holdings,

Inc.

(a)

...........

567

7,207

Signet

Jewelers

Ltd.

.................

283

18,463

Sleep

Number

Corp.

(a)

...............

2,275

TJX

Cos.,

Inc.

(The)

.................

5,119

369,080

Tractor

Supply

Co.

..................

482

105,929

Ulta

Beauty,

Inc.

(a)

..................

269

112,810

Schedule

Investments

(unaudited)

(continued)

October

31,

2022

iShares

Evolved

U.S.

Discretionary

Spending

ETF

(Percentages

shown

are

based

Net

Assets)

Security

Value

Specialty

Retail

(continued)

Urban

Outfitters,

Inc.

(a)

...............

350

8,351

Victoria's

Secret

Co.

(a)

..............

367

13,799

Williams-Sonoma,

Inc.

...............

318

39,378

3,298,400

Technology

Hardware,

Storage

Peripherals

—

1.1%

Apple,

Inc.

.......................

897

137,546

Textiles,

Apparel

Luxury

Goods

—

6.9%

Capri

Holdings

Ltd.

(a)

................

460

21,013

Carter's,

Inc.

......................

245

16,628

Columbia

Sportswear

Co.

.............

126

9,387

Crocs,

Inc.

(a)

......................

238

16,839

Deckers

Outdoor

Corp.

(a)

..............

113

39,542

G-III

Apparel

Group

Ltd.

(a)

.............

203

3,958

Hanesbrands,

Inc.

..................

1,288

8,784

Kontoor

Brands,

Inc.

.................

151

5,391

Levi

Strauss

Co.,

Class

............

230

3,441

Lululemon

Athletica

Inc.

(a)

.............

584

192,159

NIKE,

Inc.,

Class

.................

4,549

421,601

Oxford

Industries,

Inc.

...............

8,545

PVH

Corp.

.......................

297

15,242

Ralph

Lauren

Corp.,

Class

...........

211

19,558

Skechers

USA,

Inc.,

Class

(a)

..........

588

20,245

Steven

Madden

Ltd.

.................

390

11,649

Tapestry,

Inc.

......................

1,295

41,026

Under

Armour

Inc.,

Class

(a)

...........

707

5,267

Under

Armour

Inc.,

Class

NVS

(a)

......

721

4,730

Corp.

........................

1,005

28,391

Wolverine

World

Wide,

Inc.

............

217

3,717

897,113

Trading

Companies

Distributors

—

0.7%

Fastenal

Co.

......................

654

31,608

MSC

Industrial

Direct

Co.,

Inc.,

Class

....

5,809

SiteOne

Landscape

Supply,

Inc.

(a)

........

7,300

Grainger,

Inc.

..................

49,085

93,802

Total

Common

Stocks

—

99.2%

(Cost:

$14,846,337)

..............................

12,933,938

Preferred

Stocks

Preferred

Stocks

—

0.0%

Entertainment

—

0.0%

AMC

Entertainment

Holdings,

Inc.

.......

1,303

2,671

Total

Preferred

tocks

—

0.0%

(Cost:

$7,197)

.................................

2,671

Total

Long-Term

Investments

—

99.2%

(Cost:

$14,853,534)

..............................

12,936,609

Security

Value

Short-Term

Securities

Money

Market

Funds

—

1.5%

(c)(d)

BlackRock

Cash

Funds:

Institutional,

Agency

Shares,

3.29%

(e)

............

105,759

105,738

BlackRock

Cash

Funds:

Treasury,

Agency

Shares,

2.97%

..................

97,631

Total

Short-Term

Securities

—

1.5%

(Cost:

$203,349)

................................

203,369

Total

Investments

—

100.7%

(Cost:

$15,056,883

)

..............................

13,139,978

Liabilities

Excess

Other

Assets

—

(0.7)%

............

(97,564)

Net

Assets

—

100.0%

..............................

13,042,414

(a)

Non-income

producing

security.

(b)

All

portion

this

security

loan.

(c)

Affiliate

the

Fund.

(d)

Annualized

7-day

yield

period

end.

(e)

All

portion

this

security

was

purchased

with

the

cash

collateral

from

loaned

securities.

Schedule

Investments

(unaudited)

(continued)

October

31,

2022

iShares

Evolved

U.S.

Discretionary

Spending

ETF

Affiliates

Investments

issuers

considered

affiliate(s)

the

Fund

during

the

period

ended

October

31,

2022

for

purposes

Section

2(a)(3)

the

Investment

Company

Act

1940,

amended,

were

follows:

Affiliated

Issuer

Value

07/31/22

Purchases

Cost

Proceeds

from

Sale

Net

Realized

Gain

(Loss)

Change

Unrealized

Appreciation

(Depreciation)

Value

10/31/22

Held

10/31/22

Income

Capital

Gain

Distributions

from

Underlying

Funds

BlackRock

Cash

Funds:

Institutional,

Agency

298,302

—

(193,433)

(a)

897

(28)

105,738

105,759

1,512

(b)

—

BlackRock

Cash

Funds:

Treasury,

Agency

........

60,000

37,631

(a)

—

97,631

734

—

897

(28)

203,369

2,246

—

(a)

Represents

net

amount

purchased

(sold).

(b)

All

portion

represents

securities

lending

income

earned

from

the

reinvestment

cash

collateral

from

loaned

securities,

net

fees

and

collateral

investment

expenses,

and

other

payments

and

from

borrowers

securities.

Schedule

Investments

(unaudited)

(continued)

October

31,

2022

iShares

Evolved

U.S.

Discretionary

Spending

ETF

Fair

Value

Hierarchy

Period

End

Various

inputs

are

used

determining

the

fair

value

financial

instruments.

These

inputs

valuation

techniques

are

categorized

into

fair

value

hierarchy

consisting

three

broad

levels

for

financial

reporting

purposes

follows:

•

Level

—

Unadjusted

price

quotations

active

markets/exchanges

for

identical

assets

liabilities

that

the

Fund

has

the

ability

access;

•

Level

—

Other

observable

inputs

(including,

but

not

limited

to,

quoted

prices

for

similar

assets

liabilities

markets

that

are

active,

quoted

prices

for

identical

similar

assets

liabilities

markets

that

are

not

active,

inputs

other

than

quoted

prices

that

are

observable

for

the

assets

liabilities

(such

interest

rates,

yield

curves,

volatilities,

prepayment

speeds,

loss

severities,

credit

risks

and

default

rates)

other

market-corroborated

inputs);

and

•

Level

—

Unobservable

inputs

based

the

best

information

available

the

circumstances,

the

extent

observable

inputs

are

not

available

(including

the

Valuation

Committee's

assumptions

used

determining

the

fair

value

financial

instruments).

The

hierarchy

gives

the

highest

priority

unadjusted

quoted

prices

active

markets

for

identical

assets

liabilities

(Level

measurements)

and

the

lowest

priority

unobservable

inputs

(Level

measurements).

Accordingly,

the

degree

judgment

exercised

determining

fair

value

greatest

for

instruments

categorized

Level

The

inputs

used

measure

fair

value

may

fall

into

different

levels

the

fair

value

hierarchy.

such

cases,

for

disclosure

purposes,

the

fair

value

hierarchy

classification

determined

based

the

lowest

level

input

that

significant

the

fair

value

measurement

its

entirety.

Investments

classified

within

Level

have

significant

unobservable

inputs

used

the

Valuation

Committee

determining

the

price

for

Fair

Valued

Investments.

Level

investments

include

equity

debt

issued

privately

held

companies

funds.

There

may

not

secondary

market,

and/

there

are

limited

number

investors.

The

categorization

value

determined

for

financial

instruments

based

the

pricing

transparency

the

financial

instruments

and

not

necessarily

indication

the

risks

associated

with

investing

those

securities.

For

information

about

the

Fund’s

policy

regarding

valuation

financial

instruments,

refer

its

most

recent

financial

statements.

The

following

table

summarizes

the

Fund’s

financial

instruments

categorized

the

fair

value

hierarchy.

The

breakdown

the

Fund's

financial

instruments

into

major