Schedule of Investments (unaudited)	iShares® Inflation Hedged U.S. Aggregate Bond ETF
July 31, 2024	(Percentages shown are based on Net Assets)

Security	Shares		Value
Investment Companies
Exchange-Traded Funds — 96.0%
iShares Core U.S. Aggregate Bond ETF(a)		23,958	$	2,374,477
Total Investment Companies
(Cost: $2,407,629)				2,374,477
Short-Term Securities
Money Market Funds — 1.2%
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(a)(b)		30,000		30,000
Total Short-Term Securities — 1.2%
(Cost: $30,000)				30,000
Total Investments in Securities — 97.2%
(Cost: $2,437,629)				2,404,477
Other Assets Less Liabilities — 2.8%				68,990
Net Assets — 100.0%			$	2,473,467

(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, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at 10/31/23		Purchases at Cost			Proceeds from Sales			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)		Value at 07/31/24		Shares Held at 07/31/24		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL Agency Shares(a)	$	—	$	112	(b)	$	—		$	(112	)	$	—	$	—		—	$	44	(c)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		80,000		—			(50,000	)(b)		—			—		30,000		30,000		2,212			—
iShares Core U.S. Aggregate Bond ETF		2,186,639		69,872			(43,944	)		(1,411	)		163,321		2,374,477		23,958		61,733			—
									$	(1,523	)	$	163,321	$	2,404,477			$	63,989		$	—

(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

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)
		1-Day SOFR,
4.20%	Annual	5.38%	Annual	N/A	05/06/39	USD	10	$	(579	)	$	—	$	(579	)
		1-Day SOFR,
3.20%	Annual	5.38%	Annual	N/A	12/06/42	USD	5		333			—		333
		1-Day SOFR,
3.85%	Annual	5.38%	Annual	N/A	04/11/49	USD	10		(358	)		—		(358	)
								$	(604	)	$	—	$	(604	)

1

Schedule of Investments (unaudited) (continued)	iShares® Inflation Hedged U.S. Aggregate Bond ETF
July 31, 2024

OTC Inflation Swaps

Paid by the Fund		Received by the Fund			Termination	Notional Amount					Upfront Premium Paid		Unrealized Appreciation
Rate	Frequency	Rate	Frequency	Counterparty	Date	(000)		Value			(Received)		(Depreciation)
3.05%	At Termination	U.S. CPI Urban Consumers NAS	At Termination	Goldman Sachs International	06/24/27	USD	315	$	(370	)	$	—	$	(370	)
2.86%	At Termination	U.S. CPI Urban Consumers NAS	At Termination	Goldman Sachs International	06/24/29	USD	248		202			—		202
2.55%	At Termination	U.S. CPI Urban Consumers NAS	At Termination	Goldman Sachs International	06/24/47	USD	47		178			—		178
								$	10		$	—	$	10

Centrally Cleared Inflation Swaps

Paid by the Fund		Received by the Fund		Termination	Notional Amount					Upfront Premium Paid		Unrealized Appreciation
Rate	Frequency	Rate	Frequency	Date	(000)		Value			(Received)		(Depreciation)
		U.S. CPI Urban
		Consumers
3.05%	At Termination	NSA	At Termination	07/11/25	USD	70	$	468		$	1	$	467
		U.S. CPI Urban
		Consumers
2.98%	At Termination	NSA	At Termination	09/08/25	USD	250		(2,182	)		2		(2,184	)
		U.S. CPI Urban
		Consumers
2.24%	At Termination	NSA	At Termination	11/29/25	USD	5		8			—		8
		U.S. CPI Urban
		Consumers
2.76%	At Termination	NSA	At Termination	12/07/25	USD	47		(17	)		1		(18	)
		U.S. CPI Urban
		Consumers
2.09%	At Termination	NSA	At Termination	01/11/26	USD	57		314			—		314
		U.S. CPI Urban
		Consumers
2.80%	At Termination	NSA	At Termination	03/06/26	USD	52		(101	)		1		(102	)
		U.S. CPI Urban
		Consumers
2.47%	At Termination	NSA	At Termination	03/19/26	USD	29		(37	)		1		(38	)
		U.S. CPI Urban
		Consumers
2.42%	At Termination	NSA	At Termination	06/26/26	USD	111		476			1		475
		U.S. CPI Urban
		Consumers
2.41%	At Termination	NSA	At Termination	07/12/26	USD	12		53			—		53
		U.S. CPI Urban
		Consumers
2.26%	At Termination	NSA	At Termination	11/29/26	USD	27		94			—		94
		U.S. CPI Urban
		Consumers
2.26%	At Termination	NSA	At Termination	01/30/27	USD	20		111			—		111
		U.S. CPI Urban
		Consumers
2.50%	At Termination	NSA	At Termination	07/05/27	USD	33		(208	)		—		(208	)
		U.S. CPI Urban
		Consumers
2.65%	At Termination	NSA	At Termination	10/12/27	USD	11		4			—		4

2

Schedule of Investments (unaudited) (continued)	iShares® Inflation Hedged U.S. Aggregate Bond ETF
July 31, 2024

Centrally Cleared Inflation Swaps (continued)

Paid by the Fund		Received by the Fund		Termination	Notional Amount					Upfront Premium Paid			Unrealized Appreciation
Rate	Frequency	Rate	Frequency	Date	(000)		Value			(Received)			(Depreciation)
		U.S. CPI Urban
		Consumers
2.68%	At Termination	NSA	At Termination	10/14/27	USD	15	$	(19	)	$	(45	)	$	26
		U.S. CPI Urban
		Consumers
2.67%	At Termination	NSA	At Termination	10/17/27	USD	13		(6	)		—			(6	)
		U.S. CPI Urban
		Consumers
2.89%	At Termination	NSA	At Termination	11/04/27	USD	25		(255	)		—			(255	)
		U.S. CPI Urban
		Consumers
2.67%	At Termination	NSA	At Termination	07/05/29	USD	50		622			19			603
		U.S. CPI Urban
		Consumers
2.45%	At Termination	NSA	At Termination	01/25/30	USD	37		291			1			290
		U.S. CPI Urban
		Consumers
2.52%	At Termination	NSA	At Termination	06/26/30	USD	26		17			—			17
		U.S. CPI Urban
		Consumers
2.64%	At Termination	NSA	At Termination	07/31/30	USD	19		(140	)		—			(140	)
		U.S. CPI Urban
		Consumers
2.48%	At Termination	NSA	At Termination	03/19/31	USD	80		(85	)		1			(86	)
		U.S. CPI Urban
		Consumers
2.64%	At Termination	NSA	At Termination	07/05/32	USD	219		2,195			27			2,168
		U.S. CPI Urban
		Consumers
2.69%	At Termination	NSA	At Termination	12/07/32	USD	58		(601	)		1			(602	)
		U.S. CPI Urban
		Consumers
2.59%	At Termination	NSA	At Termination	07/12/33	USD	10		(65	)		—			(65	)
		U.S. CPI Urban
		Consumers
2.59%	At Termination	NSA	At Termination	09/08/33	USD	28		(221	)		(223	)		2
		U.S. CPI Urban
		Consumers
2.47%	At Termination	NSA	At Termination	11/29/33	USD	6		(5	)		—			(5	)
		U.S. CPI Urban
		Consumers
2.58%	At Termination	NSA	At Termination	04/05/34	USD	21		(207	)		—			(207	)
		U.S. CPI Urban
		Consumers
2.59%	At Termination	NSA	At Termination	05/07/34	USD	24		(292	)		—			(292	)
		U.S. CPI Urban
		Consumers
2.53%	At Termination	NSA	At Termination	07/11/37	USD	100		1,844			3			1,841
		U.S. CPI Urban
		Consumers
2.40%	At Termination	NSA	At Termination	10/12/37	USD	36		778			1			777
		U.S. CPI Urban
		Consumers
2.52%	At Termination	NSA	At Termination	02/15/39	USD	13		(20	)		1			(21	)
		U.S. CPI Urban
		Consumers
2.44%	At Termination	NSA	At Termination	07/05/42	USD	114		3,324			(620	)		3,944

3

Schedule of Investments (unaudited) (continued)	iShares® Inflation Hedged U.S. Aggregate Bond ETF
July 31, 2024

Centrally Cleared Inflation Swaps (continued)

Paid by the Fund		Received by the Fund		Termination	Notional Amount					Upfront Premium Paid			Unrealized Appreciation
Rate	Frequency	Rate	Frequency	Date	(000)		Value			(Received)			(Depreciation)
		U.S. CPI Urban
		Consumers
2.39%	At Termination	NSA	At Termination	02/07/43	USD	11	$	223		$	1		$	222
		U.S. CPI Urban
		Consumers
2.50%	At Termination	NSA	At Termination	11/29/43	USD	2		(14	)		—			(14	)
		U.S. CPI Urban
		Consumers
2.38%	At Termination	NSA	At Termination	10/14/47	USD	17		346			(215	)		561
		U.S. CPI Urban
		Consumers
2.34%	At Termination	NSA	At Termination	12/21/47	USD	17		464			1			463
		U.S. CPI Urban
		Consumers
2.56%	At Termination	NSA	At Termination	08/07/48	USD	10		(184	)		1			(185	)
		U.S. CPI Urban
		Consumers
2.40%	At Termination	NSA	At Termination	07/05/52	USD	38		1,146			(325	)		1,471
		U.S. CPI Urban
		Consumers
2.46%	At Termination	NSA	At Termination	06/26/53	USD	10		(7	)		1			(8	)
		U.S. CPI Urban
		Consumers
2.54%	At Termination	NSA	At Termination	11/29/53	USD	4		(80	)		—			(80	)
							$	8,032		$	(1,363	)	$	9,395

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	$	2,374,477	$	—	$	—	$	2,374,477

4

Schedule of Investments (unaudited) (continued)	iShares® Inflation Hedged U.S. Aggregate Bond ETF
July 31, 2024

Fair Value Hierarchy as of Period End (continued)

	Level 1		Level 2			Level 3		Total
Short-Term Securities
Money Market Funds	$	30,000	$	—		$	—	$	30,000
	$	2,404,477	$	—		$	—	$	2,404,477
Derivative Financial Instruments(a)
Assets
Inflation Linked Contracts	$	—	$	14,291		$	—	$	14,291
Interest Rate Contracts		—		333			—		333
Liabilities
Inflation Linked Contracts		—		(4,886	)		—		(4,886	)
Interest Rate Contracts		—		(937	)		—		(937	)
	$	—	$	8,801		$	—	$	8,801

^(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