Schedule of Investments (unaudited)	iShares® Inflation Hedged Corporate Bond ETF
January 31, 2023	(Percentages shown are based on Net Assets)

Security	Shares		Value
Investment Companies
Exchange-Traded Funds — 94.4%
iShares iBoxx $ Investment Grade Corporate Bond ETF(a)		511,831	$	56,746,703
Total Investment Companies
(Cost: $65,455,132)				56,746,703
Short-Term Securities
Money Market Funds — 1.2%
BlackRock Cash Funds: Treasury, SL Agency Shares, 4.18%(a)(b)		710,000		710,000
Total Short-Term Securities — 1.2%
(Cost: $710,000)				710,000
Total Investments in Securities — 95.6%
(Cost: $66,165,132)				57,456,703
Other Assets Less Liabilities — 4.4%				2,662,476
Net Assets — 100.0%			$	60,119,179

^(a) Affiliate of the Fund.

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

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended January 31, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at 10/31/22		Purchases at Cost			Proceeds from Sale			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)		Value at 01/31/23		Shares Held at 01/31/23		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL Agency Shares(a)	$	—	$	—		$	(2,725	)(b)	$	2,725		$	—	$	—		—	$	631	(c)	$	—
BlackRock Cash Funds: Treasury, SL Agency  Shares		170,000		540,000	(b)		—			—			—		710,000		710,000		4,563			—
iShares iBoxx $ Investment Grade Corporate Bond ETF		53,261,756		6,379,194			(7,903,275	)		(1,879,328	)		6,888,356		56,746,703		511,831		483,031			—
									$	(1,876,603	)	$	6,888,356	$	57,456,703			$	488,225		$	—

^(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.

Derivative Financial Instruments Outstanding as of Period End

Centrally Cleared Inflation Swaps

Paid by the Fund		Received by the Fund		Termination		Notional Amount					Upfront Premium Paid		Unrealized Appreciation
Reference	Frequency	Rate	Frequency	Date		(000)			Value		(Received)		(Depreciation)
		U.S. CPI Urban
1.75%	At Termination	Consumers NSA	At Termination		08/20/23	$	(10	)	$	1,220	$	—	$	1,220
U.S. CPI Urban
Consumers NSA	At Termination	2.63%	At Termination		12/09/23		(1,000	)		1,956		3		1,953
		U.S. CPI Urban
3.35%	At Termination	Consumers NSA	At Termination		01/05/24		(3,000	)		92,320		19		92,301

1

Schedule of Investments (unaudited) (continued)	iShares® Inflation Hedged Corporate Bond ETF
January 31, 2023

Centrally Cleared Inflation Swaps (continued)

Paid by the Fund		Received by the Fund		Termination		Notional Amount						Upfront Premium Paid			Unrealized Appreciation
Reference	Frequency	Rate	Frequency		Date	(000)			Value			(Received)			(Depreciation)
		U.S. CPI Urban
3.12%	At Termination	Consumers NSA	At Termination		11/04/24	$	(400	)	$	(4,477	)	$	285		$	(4,762	)
		U.S. CPI Urban
2.74%	At Termination	Consumers NSA	At Termination		11/17/24		(800	)		(3,476	)		5			(3,481	)
		U.S. CPI Urban
2.50%	At Termination	Consumers NSA	At Termination		12/30/24		(560	)		(2,028	)		(4	)		(2,024	)
		U.S. CPI Urban
2.68%	At Termination	Consumers NSA	At Termination		09/07/26		(1,400	)		68,783			18			68,765
		U.S. CPI Urban
2.74%	At Termination	Consumers NSA	At Termination		09/15/26		(2,000	)		90,042			27			90,015
		U.S. CPI Urban
2.92%	At Termination	Consumers NSA	At Termination		10/21/26		(3,500	)		118,749			46			118,703
		U.S. CPI Urban
3.13%	At Termination	Consumers NSA	At Termination		10/27/26		(3,430	)		81,387			46			81,341
		U.S. CPI Urban
3.15%	At Termination	Consumers NSA	At Termination		10/29/26		(1,540	)		34,687			20			34,667
		U.S. CPI Urban
2.59%	At Termination	Consumers NSA	At Termination		10/11/27		(1,600	)		(10,476	)		21			(10,497	)
		U.S. CPI Urban
2.91%	At Termination	Consumers NSA	At Termination		11/09/27		(330	)		(6,706	)		4			(6,710	)
		U.S. CPI Urban
2.75%	At Termination	Consumers NSA	At Termination		12/07/27		(2,300	)		(31,547	)		30			(31,577	)
		U.S. CPI Urban
2.54%	At Termination	Consumers NSA	At Termination		12/30/27		(430	)		(2,813	)		(243	)		(2,570	)
		U.S. CPI Urban
2.46%	At Termination	Consumers NSA	At Termination		01/05/28		(1,900	)		(5,620	)		26			(5,646	)
		U.S. CPI Urban
2.66%	At Termination	Consumers NSA	At Termination		10/01/28		(1,000	)		44,141			18			44,123
		U.S. CPI Urban
2.96%	At Termination	Consumers NSA	At Termination		10/26/28		(1,800	)		41,198			33			41,165
		U.S. CPI Urban
2.32%	At Termination	Consumers NSA	At Termination		01/20/30		(430	)		2,876			8			2,868
		U.S. CPI Urban
1.89%	At Termination	Consumers NSA	At Termination		08/20/30		(360	)		53,886			7,108			46,778
		U.S. CPI Urban
1.90%	At Termination	Consumers NSA	At Termination		08/20/30		(420	)		62,584			10			62,574
		U.S. CPI Urban
2.24%	At Termination	Consumers NSA	At Termination		01/12/31		(2,000	)		216,676			47			216,629
		U.S. CPI Urban
2.40%	At Termination	Consumers NSA	At Termination		02/09/31		(3,000	)		277,164			70			277,094
		U.S. CPI Urban
2.47%	At Termination	Consumers NSA	At Termination		04/07/31		(2,000	)		168,499			46			168,453
		U.S. CPI Urban
2.67%	At Termination	Consumers NSA	At Termination		05/19/31		(1,000	)		61,563			23			61,540
		U.S. CPI Urban
2.57%	At Termination	Consumers NSA	At Termination		06/02/31		(3,000	)		211,968			2,870			209,098
		U.S. CPI Urban
2.60%	At Termination	Consumers NSA	At Termination		09/30/31		(1,000	)		44,980			24			44,956
		U.S. CPI Urban
2.43%	At Termination	Consumers NSA	At Termination		12/19/32		(110	)		355			3			352
		U.S. CPI Urban
2.55%	At Termination	Consumers NSA	At Termination		12/30/32		(530	)		(4,778	)		(704	)		(4,074	)
		U.S. CPI Urban
2.50%	At Termination	Consumers NSA	At Termination		01/05/33		(700	)		(3,032	)		16			(3,048	)
		U.S. CPI Urban
2.61%	At Termination	Consumers NSA	At Termination		01/07/37		(3,500	)		75,886			101			75,785
		U.S. CPI Urban
2.50%	At Termination	Consumers NSA	At Termination		01/25/37		(560	)		19,054			16			19,038

2

Schedule of Investments (unaudited) (continued)	iShares® Inflation Hedged Corporate Bond ETF
January 31, 2023

Centrally Cleared Inflation Swaps (continued)

Paid by the Fund		Received by the Fund		Termination		Notional Amount						Upfront Premium Paid			Unrealized Appreciation
Reference	Frequency	Rate	Frequency	Date		(000)			Value			(Received)			(Depreciation)
		U.S. CPI Urban
2.43%	At Termination	Consumers NSA	At Termination		01/13/38	$	(600	)	$	(70	)	$	17		$	(87	)
		U.S. CPI Urban
2.40%	At Termination	Consumers NSA	At Termination		06/29/41		(500	)		35,335			19			35,316
		U.S. CPI Urban
2.45%	At Termination	Consumers NSA	At Termination		06/29/41		(1,000	)		62,908			38			62,870
		U.S. CPI Urban
2.38%	At Termination	Consumers NSA	At Termination		07/16/41		(300	)		21,253			4			21,249
		U.S. CPI Urban
2.58%	At Termination	Consumers NSA	At Termination		01/05/42		(1,530	)		17,515			59			17,456
		U.S. CPI Urban
2.61%	At Termination	Consumers NSA	At Termination		11/04/42		(40	)		(1,398	)		33			(1,431	)
		U.S. CPI Urban
2.33%	At Termination	Consumers NSA	At Termination		12/19/42		(200	)		2,167			7			2,160
		U.S. CPI Urban
2.48%	At Termination	Consumers NSA	At Termination		12/30/42		(130	)		(2,219	)		(265	)		(1,954	)
		U.S. CPI Urban
2.40%	At Termination	Consumers NSA	At Termination		01/13/43		(350	)		(1,194	)		14			(1,208	)
		U.S. CPI Urban
2.50%	At Termination	Consumers NSA	At Termination		12/06/46		(500	)		11,470			22			11,448
		U.S. CPI Urban
2.47%	At Termination	Consumers NSA	At Termination		12/09/46		(1,000	)		29,597			45			29,552
		U.S. CPI Urban
2.52%	At Termination	Consumers NSA	At Termination		12/07/47		(50	)		(1,440	)		2			(1,442	)
		U.S. CPI Urban
2.31%	At Termination	Consumers NSA	At Termination		01/20/48		(510	)		6,399			23			6,376
		U.S. CPI Urban
1.83%	At Termination	Consumers NSA	At Termination		10/18/49		(418	)		86,597			(11,789	)		98,386
		U.S. CPI Urban
1.94%	At Termination	Consumers NSA	At Termination		08/20/50		(10	)		1,974			—			1,974
		U.S. CPI Urban
1.95%	At Termination	Consumers NSA	At Termination		08/20/50		(600	)		117,047			16,729			100,318
		U.S. CPI Urban
2.23%	At Termination	Consumers NSA	At Termination		01/06/51		(300	)		35,470			14			35,456
		U.S. CPI Urban
2.41%	At Termination	Consumers NSA	At Termination		07/30/51		(1,000	)		56,327			50			56,277
		U.S. CPI Urban
2.42%	At Termination	Consumers NSA	At Termination		08/02/51		(459	)		24,176			22			24,154
		U.S. CPI Urban
2.43%	At Termination	Consumers NSA	At Termination		01/05/53		(300	)		(4,747	)		15			(4,762	)
									$	2,192,188		$	15,051		$	2,177,137

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	Frequency	Date	Date	(000)			Value			(Received)		(Depreciation)
3.32%	Annual	1-Day SOFR, 4.30%	Annual	N/A	12/06/29	$	(600	)	$	(1,935	)	$	8	$	(1,943	)
3.48%	Annual	1-Day SOFR, 4.30%	Annual	N/A	01/09/30		(200	)		(2,702	)		3		(2,705	)
3.25%	Annual	1-Day SOFR, 4.30%	Annual	N/A	12/06/32		(200	)		(688	)		4		(692	)
3.08%	Annual	1-Day SOFR, 4.30%	Annual	N/A	01/23/33		(200	)		2,035			4		2,031
3.23%	Annual	1-Day SOFR, 4.30%	Annual	N/A	12/06/37		(100	)		(379	)		2		(381	)
3.18%	Annual	1-Day SOFR, 4.30%	Annual	N/A	12/06/42		(250	)		(643	)		7		(650	)
3.17%	Annual	1-Day SOFR, 4.30%	Annual	N/A	01/09/48		(200	)		(3,766	)		7		(3,773	)

3

Schedule of Investments (unaudited) (continued)	iShares® Inflation Hedged Corporate Bond ETF
January 31, 2023

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	Frequency	Date	Date		(000)			Value			(Received)		(Depreciation)
3.15%	Annual	1-Day SOFR, 4.30%	Annual	N/A	11/23/52	$	(200	)	$	(7,540	)	$	7	$	(7,547	)
2.93%	Annual	1-Day SOFR, 4.29%	Annual	N/A	12/06/52		(200	)		914			7		907
									$	(14,704	)	$	49	$	(14,753	)

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

● Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each Fund has the ability to access;

● Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs); and

● Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Valuation Committee’s assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.

	Level 1		Level 2			Level 3		Total
Assets
Investments
Long-Term Investments
Investment Companies	$	56,746,703	$	—		$	—	$	56,746,703
Short-Term Securities
Money Market Funds		710,000		—			—		710,000
	$	57,456,703	$	—		$	—	$	57,456,703
Derivative Financial Instruments(a)
Assets
Inflation Linked Contracts	$	—	$	2,262,410		$	—	$	2,262,410
Interest Rate Contracts		—		2,938			—		2,938
Liabilities
Inflation Linked Contracts		—		(85,273	)		—		(85,273	)
Interest Rate Contracts		—		(17,691	)		—		(17,691	)
	$	—	$	2,162,384		$	—		2,162,384

^(a) Derivative financial instruments are swaps. Swaps are valued at the unrealized appreciation (depreciation) on the instrument.

Portfolio Abbreviation

CPI Consumer Price Index

SOFR Secured Overnight Financing Rate

4