Schedule of Investments (unaudited)	iShares® Inflation Hedged Corporate Bond ETF
July 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)		533,621	$	57,551,025
Total Investment Companies
(Cost: $65,698,666)				57,551,025
Short-Term Securities
Money Market Funds — 1.1%
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.22%(a)(b)		680,000		680,000
Total Short-Term Securities — 1.1%
(Cost: $680,000)				680,000
Total Investments in Securities — 95.5%
(Cost: $66,378,666)				58,231,025
Other Assets Less Liabilities — 4.5%				2,716,247
Net Assets — 100.0%			$	60,947,272

(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 July 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 07/31/23		Shares Held at 07/31/23		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL Agency Shares(a)	$	—	$	—		$	(188	)(b)	$	188		$	—	$	—		—	$	6,799	(c)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		170,000		510,000	(b)		—			—			—		680,000		680,000		17,539			—
iShares iBoxx $Investment Grade Corporate Bond ETF		53,261,756		18,561,849			(17,565,081	)		(4,156,643	)		7,449,144		57,551,025		533,621		1,579,540			—
									$	(4,156,455	)	$	7,449,144	$	58,231,025			$	1,603,878		$	—

^(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 Interest Rate Swaps

Upfront

Notional

Premium

Unrealized

Paid by the Fund

Received by the Fund

Effective

Termination

Amount

Paid

Appreciation

Rate

Frequency

Rate

Frequency

Date

Date

(000

)

Value

(Received)

(Depreciation)

3.32%

Annual

1-Day SOFR, 5.06%

Annual

N/A

12/06/29

USD

600

$

23,477

$

8

$

23,469

3.48%

Annual

1-Day SOFR, 5.06%

Annual

N/A

01/09/30

USD

200

5,632

3

5,629

3.27%

Annual

1-Day SOFR, 5.06%

Annual

N/A

03/15/30

USD

100

3,842

1

3,841

3.14%

Annual

1-Day SOFR, 5.06%

Annual

N/A

05/05/30

USD

170

7,557

2

7,555

3.25%

Annual

1-Day SOFR, 5.06%

Annual

N/A

12/06/32

USD

200

9,252

3

9,249

3.08%

Annual

1-Day SOFR, 5.06%

Annual

N/A

01/23/33

USD

200

11,743

3

11,740

3.23%

Annual

1-Day SOFR, 5.06%

Annual

N/A

12/06/37

USD

100

5,707

2

5,705

 1

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

Centrally Cleared Interest Rate Swaps (continued)

											Upfront
							Notional				Premium		Unrealized
Paid by the Fund		Received by the Fund		Effective	Termination		Amount				Paid		Appreciation
Rate	Frequency	Rate	Frequency	Date	Date		(000	)		Value		(Received)		(Depreciation)
3.17%	Annual	1-Day SOFR, 5.06%	Annual	N/A	01/09/48	USD	200		$	12,132	$	6	$	12,126
2.98%	Annual	1-Day SOFR, 5.06%	Annual	N/A	03/15/48	USD	100			8,663		3		8,660
3.07%	Annual	1-Day SOFR, 5.06%	Annual	N/A	05/05/48	USD	100			6,866		3		6,863
3.15%	Annual	1-Day SOFR, 5.06%	Annual	N/A	11/23/52	USD	100			5,167		4		5,163
2.93%	Annual	1-Day SOFR, 5.06%	Annual	N/A	12/06/52	USD	200			18,496		7		18,489
2.99%	Annual	1-Day SOFR, 5.06%	Annual	N/A	05/05/53	USD	100			7,193		3		7,190
									$	125,727	$	48	$	125,679

Centrally Cleared Inflation Swaps

											Upfront
						Notional					Premium			Unrealized
Paid by the Fund		Received by the Fund		Termination		Amount					Paid			Appreciation
Reference	Frequency	Rate	Frequency	Date		(000	)		Value			(Received)			(Depreciation)
1.75%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	08/20/23	USD	10		$	1,309		$	—		$	1,309
U.S. CPI Urban Consumers NSA	At Termination	2.63%	At Termination	12/09/23	USD	2,700			(14,909	)		(5,947	)		(8,962	)
3.35%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	01/05/24	USD	3,000			114,449			20			114,429
3.12%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	11/04/24	USD	400			(2,470	)		285			(2,755	)
2.74%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	11/17/24	USD	800			620			5			615
2.50%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	12/30/24	USD	560			959			(4	)		963
2.54%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	02/10/25	USD	60			117			—			117
2.48%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	04/06/25	USD	66			74			—			74
2.50%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	04/13/25	USD	400			113			276			(163	)
2.42%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	04/25/25	USD	520			639			3			636
2.27%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	05/05/25	USD	660			2,686			4			2,682
2.43%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	07/27/25	USD	510			513			3			510
2.68%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	09/07/26	USD	135			7,899			2			7,897
2.74%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	09/15/26	USD	2,000			108,903			27			108,876
2.92%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	10/21/26	USD	3,500			153,034			46			152,988
3.13%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	10/27/26	USD	1,330			44,734			18			44,716
3.15%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	10/29/26	USD	1,540			49,967			20			49,947
2.59%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	10/11/27	USD	100			484			1			483
2.75%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	12/07/27	USD	200			(412	)		3			(415	)
2.54%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	12/30/27	USD	430			2,207			(243	)		2,450
2.46%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	01/05/28	USD	1,900			16,522			25			16,497
2.45%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	02/08/28	USD	965			9,807			13			9,794

2

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

Centrally Cleared Inflation Swaps (continued)

											Upfront
						Notional					Premium			Unrealized
Paid by the Fund		Received by the Fund		Termination		Amount					Paid			Appreciation
Reference	Frequency	Rate	Frequency	Date		(000	)		Value			(Received)			(Depreciation)
2.59%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	02/22/28	USD	360		$	1,790		$	5		$	1,785
2.71%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	02/24/28	USD	250			(11	)		3			(14	)
2.58%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	03/31/28	USD	80			257			1			256
2.56%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	04/05/28	USD	125			443			2			441
2.50%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	04/06/28	USD	700			4,571			9			4,562
2.52%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	04/13/28	USD	1,200			6,469			1,935			4,534
2.55%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	04/19/28	USD	800			2,964			11			2,953
2.41%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	05/05/28	USD	1,600			15,650			21			15,629
2.39%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	05/17/28	USD	1,400			15,916			19			15,897
2.66%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	10/01/28	USD	1,000			58,265			18			58,247
2.96%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	10/26/28	USD	1,500			56,159			28			56,131
1.89%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	08/20/30	USD	360			59,573			7,108			52,465
1.90%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	08/20/30	USD	420			69,226			10			69,216
2.24%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	01/12/31	USD	2,000			249,084			47			249,037
2.40%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	02/09/31	USD	3,000			326,707			70			326,637
2.47%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	04/07/31	USD	2,000			202,499			47			202,452
2.67%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	05/19/31	USD	1,000			78,835			23			78,812
2.57%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	06/02/31	USD	3,000			262,819			2,870			259,949
2.60%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	09/30/31	USD	1,000			62,386			23			62,363
2.43%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	12/19/32	USD	110			2,356			3			2,353
2.55%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	12/30/32	USD	270			2,559			(358	)		2,917
2.50%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	01/05/33	USD	700			9,821			16			9,805
2.47%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	02/07/33	USD	410			7,060			10			7,050
2.54%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	04/13/33	USD	435			4,311			646			3,665
2.55%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	04/25/33	USD	1,200			9,847			28			9,819
2.58%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	07/14/33	USD	330			1,841			8			1,833
2.61%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	01/07/37	USD	3,500			166,910			101			166,809
2.50%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	01/25/37	USD	560			33,300			16			33,284
2.45%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	04/06/38	USD	310			6,748			9			6,739

 3

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

Centrally Cleared Inflation Swaps (continued)

											Upfront
						Notional					Premium			Unrealized
Paid by the Fund		Received by the Fund		Termination		Amount					Paid			Appreciation
Reference	Frequency	Rate	Frequency	Date		(000	)		Value			(Received)			(Depreciation)
2.56%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	07/14/38	USD	248		$	1,737		$	7		$	1,730
2.40%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	06/29/41	USD	500			50,753			19			50,734
2.45%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	06/29/41	USD	1,000			94,185			38			94,147
2.38%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	07/16/41	USD	300			30,486			4			30,482
2.58%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	01/05/42	USD	1,530			68,803			59			68,744
2.33%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	12/19/42	USD	200			8,619			8			8,611
2.40%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	01/13/43	USD	40			1,188			2			1,186
2.47%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	03/31/43	USD	120			2,086			5			2,081
2.43%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	04/05/43	USD	275			6,534			11			6,523
2.47%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	04/19/43	USD	325			5,594			12			5,582
2.54%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	07/14/43	USD	65			388			3			385
2.58%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	07/31/43	USD	60			(61	)		2			(63	)
2.50%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	12/06/46	USD	500			29,361			22			29,339
2.47%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	12/09/46	USD	1,000			64,856			45			64,811
2.31%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	01/20/48	USD	230			10,689			10			10,679
2.49%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	07/24/48	USD	244			2,144			11			2,133
2.57%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	07/27/48	USD	100			(618	)		4			(622	)
2.55%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	07/31/48	USD	100			(322	)		4			(326	)
1.83%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	10/18/49	USD	418			96,899			(11,789	)		108,688
1.94%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	08/20/50	USD	10			2,230			—			2,230
1.95%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	08/20/50	USD	600			132,561			16,730			115,831
2.23%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	01/06/51	USD	300			45,052			15			45,037
2.41%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	07/30/51	USD	1,000			93,013			49			92,964
2.42%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	08/02/51	USD	459			41,128			23			41,105
2.37%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	02/08/53	USD	225			8,925			11			8,914
2.35%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	04/06/53	USD	50			2,129			2			2,127
2.43%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	06/06/53	USD	101			2,547			5			2,542
2.49%	At Termination	U.S. CPI Urban Consumers NSA	At Termination	07/24/53	USD	391			3,269			19			3,250
								$	3,019,775		$	12,617		$	3,007,158

4

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

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	$	57,551,025	$	—		$	—	$	57,551,025
Short-Term Securities
Money Market Funds		680,000		—			—		680,000
	$	58,231,025	$	—		$	—	$	58,231,025
Derivative Financial Instruments(a)
Assets
Inflation Linked Contracts	$	—	$	3,020,478		$	—	$	3,020,478
Interest Rate Contracts		—		125,679			—		125,679
Liabilities
Inflation Linked Contracts		—		(13,320	)		—		(13,320	)
	$	—	$	3,132,837		$	—		3,132,837

^(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

 5