■当ファンドの仕組みは次の通りです。(全ファンド共通)
商 品 分 類

追加型投信／内外／資産複合

信 託 期 間

無期限(2009年8月7日設定)

運 用 方 針この投資信託は、主として、世界各国の取引所に上場されている投資信託証券への投資を通じて、世界(日本を含みます。)の株式、債券、不動産投資信託(REIT)、商品(コモディティ)へ実質的に分散投資を行い、長期的な投資信託財産の成長を目指して運用を行います。

主要投資対象

世界各国の取引所に上場されている投資信託証券を主要投資対象とします。

主な投資制限

①株式への直接投資は行いません。
②投資信託証券への投資割合には制限を設けません。
③外貨建資産への投資割合には制限を設けません。

分 配 方 針

分配対象額の範囲は、繰越分を含めた経費控除後の利子・配当等収益と売買益(評価益を含みます｡)等の全額とします。
収益分配金額は、委託者が基準価額水準、市況動向等を勘案して決定します。
ただし、必ず分配を行うものではありません。
留保益の運用については特に制限を設けず、委託者の判断に基づき、元本部分と同一の運用を行います。

運用報告書(全体版)

楽天グローバル・バランス(安定型／成長型／積極型)
ほう じょう＜愛称：豊饒の木＞
第9期
決算日：2018年8月20日

受益者の皆様へ
平素は当ファンドにご投資いただき、厚く御礼申し上げます。
さて、当ファンドは、このたび上記決算を行いました
ので、当期間の運用状況につきまして、ご報告申し上げます。
今後とも一層のご愛顧を賜りますよう、お願い申し上げます。

楽天投信投資顧問株式会社
http://www.rakuten-toushin.co.jp/
東京都世田谷区玉川一丁目14番1号
本資料(運用報告書(全体版))の記載内容のお問い合
わせ先
TEL：03－6432－7746
受付時間：営業日の午前9時から午後5時まで※お客様のお取引内容等につきましては販売会社に
お問い合わせください。

■本資料の表記に関する注記
・金額等の数値は単位未満切捨または四捨五入により表示しております。このため、各項目の合計の値が合計欄と一致しないことがあります。
・－印は、組入・売買が無いことを示します。

－ 0 －楽天グローバル・バランス(安定型)

最近5期の運用実績
基
決

算

期

5期(2014年8月20日)
6期(2015年8月20日)
7期(2016年8月22日)
8期(2017年8月21日)
9期(2018年8月20日)(分配落)円
12,165
13,492
11,816
12,864
12,926

準 価 額
税
込
分 配 金
円
0
0
0
0
0

期
中
騰 落 率

投資信託証券組 入 比 率

純資産総額

％
96.0
98.1
97.7
96.1
98.3

百万円
61
85
83
90
77

％
12.2
10.9
△12.4
8.9
0.5

(注1) 基準価額の騰落率は分配金込み。
(注2) 当ファンドの運用方針に対応する適切な指数が存在しないため、ベンチマークおよび参考指数を設定しておりません。

当期中の基準価額の推移
年

月

日

(期
首)
2017年 8月21日
8月末
9月末
10月末
11月末
12月末
2018年 1月末
2月末
3月末
4月末
5月末
6月末
7月末
(期
末)
2018年 8月20日

基

準

価

額

投 資 信 託 証 券
組 入 比 率騰 落 率円
12,864
13,05013,25913,373
13,376
13,55013,376
12,98812,875
13,09012,87912,946
13,112

％
－
1.4
3.1
4.0
4.0
5.3
4.0
1.0
0.1
1.8
0.1
0.6
1.9

％
96.1
95.9
97.7
98.7
99.6
98.3
98.4
98.4
97.7
98.0
97.5
98.0
98.4

12,926

0.5

98.3(注) 期末基準価額は分配金込み、騰落率は期首比。

－ 1 －楽天グローバル・バランス(成長型)

最近5期の運用実績
基
決

算

期

5期(2014年8月20日)
6期(2015年8月20日)
7期(2016年8月22日)
8期(2017年8月21日)
9期(2018年8月20日)(分配落)円
14,02915,557
13,35415,02015,602

準 価 額
税
込
分 配 金
円
0
0
0
0
0

期
中
騰 落 率

投資信託証券組 入 比 率

純資産総額

％
97.8
97.8
95.5
98.3
97.6

百万円
292
261
232
270
266

％
14.7
10.9
△14.2
12.5
3.9

(注1) 基準価額の騰落率は分配金込み。
(注2) 当ファンドの運用方針に対応する適切な指数が存在しないため、ベンチマークおよび参考指数を設定しておりません。

当期中の基準価額の推移
年

月

日

(期
首)
2017年 8月21日
8月末
9月末
10月末
11月末
12月末
2018年 1月末
2月末
3月末
4月末
5月末
6月末
7月末
(期
末)
2018年 8月20日

基

準

価

額

投 資 信 託 証 券
組 入 比 率騰 落 率円
15,02015,26015,652
15,881
15,91916,197
16,056
15,482
15,27015,646
15,49915,557
15,840

％
－
1.6
4.2
5.7
6.0
7.8
6.9
3.1
1.7
4.2
3.2
3.6
5.5

％
98.3
98.2
98.1
97.7
97.7
97.5
97.7
97.5
97.2
98.0
97.6
96.6
98.0

15,602

3.9

97.6(注) 期末基準価額は分配金込み、騰落率は期首比。

－ 2 －楽天グローバル・バランス(積極型)

最近5期の運用実績
基
決

算

期

5期(2014年8月20日)
6期(2015年8月20日)
7期(2016年8月22日)
8期(2017年8月21日)
9期(2018年8月20日)(分配落)円
15,101
16,504
13,931
16,01617,001

準 価 額
税
込
分 配 金
円
0
0
0
0
0

期
中
騰 落 率

投資信託証券組 入 比 率

純資産総額

％
96.3
98.0
99.0
97.5
97.9

百万円
1,134
1,491
1,395
1,697
1,865

％
17.0
9.3
△15.6
15.0
6.2

(注1) 基準価額の騰落率は分配金込み。
(注2) 当ファンドの運用方針に対応する適切な指数が存在しないため、ベンチマークおよび参考指数を設定しておりません。

当期中の基準価額の推移
年

月

日

(期
首)
2017年 8月21日
8月末
9月末
10月末
11月末
12月末
2018年 1月末
2月末
3月末
4月末
5月末
6月末
7月末
(期
末)
2018年 8月20日

基

準

価

額

投 資 信 託 証 券
組 入 比 率騰 落 率円
16,016
16,287
16,80917,12817,19817,56017,442
16,704
16,41916,921
16,85816,905
17,281

％
－
1.7
5.0
6.9
7.4
9.6
8.9
4.3
2.5
5.7
5.3
5.6
7.9

％
97.5
97.2
97.7
97.5
97.1
97.1
98.3
98.4
97.5
98.1
97.3
97.5
98.4

17,001

6.2

97.9(注) 期末基準価額は分配金込み、騰落率は期首比。

－ 3 －楽天グローバル・バランス(安定型／成長型／積極型)

当期中の運用経過と今後の運用方針■基準価額等の推移(注1) 分配金再投資基準価額は、分配金(税込)を分配時に再投資したものとみなして計算したもので、ファンド運用の実質的なパフォーマンス
を示すものです。
(注2) 分配金を再投資するかどうかについてはお客様がご利用のコースにより異なります。また、ファンドの購入金額により課税条件も異なります。従って、各個人のお客様の損益の状況を示すものではありません。
(注3) 分配金再投資基準価額は、期首の基準価額を起点として指数化しています。

■基準価額の主な変動要因
楽天グローバル・バランス(安定型)｢安定型｣では、最も大きい組入比率となっている先進国の国債に投資するETFが下落したものの、米国株式に投資するETFが大幅に上昇したことから、ファンドが投資しているETF全体ではプラス寄与を確保しました。また、米ドルが対円で上昇したことも、基準価額を支えました。

－ 4 －楽天グローバル・バランス(安定型／成長型／積極型)■基準価額等の推移(注1) 分配金再投資基準価額は、分配金(税込)を分配時に再投資したものとみなして計算したもので、ファンド運用の実質的なパフォーマンス
を示すものです。
(注2) 分配金を再投資するかどうかについてはお客様がご利用のコースにより異なります。また、ファンドの購入金額により課税条件も異なります。従って、各個人のお客様の損益の状況を示すものではありません。
(注3) 分配金再投資基準価額は、期首の基準価額を起点として指数化しています。

■基準価額の主な変動要因
楽天グローバル・バランス(成長型)｢成長型｣では、新興国の株式や債券に投資するETF、および先進国の国債に投資するETFが下落したものの、米国株式に投資するETFや商品指数に連動するETFが大幅に上昇したことから、ファンドが投資しているETF全体ではプラス寄与を確保しました。また、米ドルが対円で上昇したことも基準価額を支えました。

－ 5 －楽天グローバル・バランス(安定型／成長型／積極型)■基準価額等の推移(注1) 分配金再投資基準価額は、分配金(税込)を分配時に再投資したものとみなして計算したもので、ファンド運用の実質的なパフォーマンス
を示すものです。
(注2) 分配金を再投資するかどうかについてはお客様がご利用のコースにより異なります。また、ファンドの購入金額により課税条件も異なります。従って、各個人のお客様の損益の状況を示すものではありません。
(注3) 分配金再投資基準価額は、期首の基準価額を起点として指数化しています。

■基準価額の主な変動要因
楽天グローバル・バランス(積極型)｢積極型｣では、新興国の株式や債券に投資するETF、および先進国の国債に投資するETFが下落したものの、米国株式に投資するETFや商品指数に連動するETFが大幅に上昇したことから、ファンドが投資しているETF全体ではまとまったプラス寄与を確保しました。また、米ドルが対円で上昇したことも基準価額を支えました。

－ 6 －楽天グローバル・バランス(安定型／成長型／積極型)■投資環境●先進国株式・新興国株式
当期のグローバル株式市場では、先進国株式が上昇した一方、新興国株式は下落しました。
先進国株式は、期初から2018年1月下旬頃まではグローバルな景気拡大やトランプ政権が打ち出した税制改革などが支援材料となり、市場のボラティリティ(変動性)が抑制されたなかで非常に堅調な展開となりました。しかし、2月に入るとそれまでの株価上昇を受けて高値警戒感が広がったことに加え、急激な米長期金利の上昇が企業業績の圧迫要因になるとの懸念などから株式市場はボラティリティの急激な上昇を伴って大きく調整し、3月下旬頃までは比較的大きい振幅で揉み合う不安定な展開となりました。その後は米国の強硬な通商政策に起因する米中間、※ファンドの基準価額への反映を考慮し、海外の指
米欧間の貿易摩擦懸念が下押し材料となったものの、米国を中数は作成期間を1営業日前にずらして作成しており
心に経済指標や企業業績が概ね良好な内容となったことなどがます。
支援材料となり、先進国株式市場は徐々に下値を切り上げていく展開となりました。
一方、新興国株式市場は、堅調な先進国株式市場や原油価格の上昇などに支えられ期前半は堅調な推移となりましたが、
2018年2月以降は米中貿易摩擦や中国経済の成長鈍化懸念、米国の継続的な利上げと新興国通貨に対する米ドル高の進行、トルコやブラジルにおける政治リスクの拡大など数多くの悪材料を背景に軟調な展開となり、期前半の上昇分を吐き出す格好となりました。

※ファンドの基準価額への反映を考慮し、作成期間
を1営業日前にずらして作成しております。

－ 7 －楽天グローバル・バランス(安定型／成長型／積極型)●先進国債券・新興国債券
当期の先進国債券市場では、主要市場の長期金利はまちまち
な動きとなりました。米国では、好調な経済を背景に段階的な利上げが予想されるなか、長期金利は上昇(価格は下落)しまし
た。特に、税制改革法案が成立した2017年12月以降はその上昇
ペースが加速する展開となり、2018年5月には一時3.1％台まで上昇しました。しかし、FRB(米連邦準備制度理事会)が目標である2％を超えるインフレ率を許容することを示唆したことなどから利上げペースの加速観測が後退したことに加え、貿易摩擦激化によるグローバル経済の鈍化懸念などから長期金利の上昇
ペースが緩和され、期末にかけては2.8％～3.0％のレンジで推移する展開となりました。ドイツの長期金利も期前半に上昇しましたが、イタリアやスペインの政局不安やECB(欧州中央銀行)のハト派的(金融引き締めに消極的)な政策スタンスなどを背景に期後半は低下に転じました。日本の長期金利は日本銀行の金融政策変更観測から2018年7月下旬に小幅上昇したものの、金融緩和政策が継続されるなかで概ね低位での推移となりました。
米ドル建て新興国債券は、期後半を中心に軟調な展開となりました。期前半は、米国の継続的な利上げを背景に米長期金利の上昇が上値を抑える要因となった一方で、新興国経済に対する楽観的な見方や原油価格の上昇が支援材料となり比較的底堅い展開となりました。しかし、期後半に入ると、米長期金利の上昇ペースは鈍化したものの、米中間の貿易摩擦への懸念、米国とトルコの関係悪化、アルゼンチンやベネズエラなどの経済の混乱などを受けてスプレッド(米国債利回りに対する上乗せ金利)が拡大に転じ、新興国債券市場は上値の重い展開となりました。

※ファンドの基準価額への反映を考慮し、海外の指数は作成期間を1営業日前にずらして作成しております。

※ファンドの基準価額への反映を考慮し、作成期間
を1営業日前にずらして作成しております。

－ 8 －楽天グローバル・バランス(成長型／積極型)●米国リート
当期の米国リート市場は、期前半に大きく調整しましたが、期後半は上昇基調に転じ、前期末比でも上昇しました。
期前半は米長期金利が上昇基調を強めるなか、上値の重い展開となりました(※)。2017年年内こそ緩やかながらも上昇基調を維持したものの、長期金利の上昇ペースが加速した年明け以降
は調整色を強め、2月上旬には米国株式の大きな調整に合せて下落幅を拡大する展開となりました。期後半に入ると、長期金利が比較的落ち着いた推移となったことに加え、良好な米国経済
指標や企業業績などが支援材料となり、米国リート市場は段階的に水準を切り上げていく堅調な展開となりました。
※米国リート市場の参加者には利回り重視の投資家が多く、米長期金利の水準はリートの配当利回りと比較され、リートの相対的な投資妙味を判断す
る重要な材料となっています。長期金利の上昇は通常、リートの利回り面
での相対的な魅力を低下させる要因として、逆に長期金利の低下はリートの利回り面での相対的な魅力を向上させる要因として、それぞれ認識される傾向があります。

※ファンドの基準価額への反映を考慮し、作成期間
を1営業日前にずらして作成しております。

●コモディティ
当期の商品指数は、原油価格の上昇などを主因に概ね堅調な推移となりました。原油先物市場はOPEC(石油輸出国機構)やIEA(国際エネルギー機構)などが世界の原油需要見通しを上方修正したことに加え、米国によるイラン核合意離脱と対イラン制裁の再発動への警戒感、OPECの増産幅が想定範囲内に収まったことなどを背景に堅調な展開となりました。一方、金先物は北朝鮮情勢の緊迫化などを背景に安全資産としての需要から買われる場面もありましたが、堅調な米国経済を背景とした米国の利上げと米ドル高が重石となり、期後半を中心に軟調な展開となりました。
※ファンドの基準価額への反映を考慮し、作成期間
を1営業日前にずらして作成しております。

－ 9 －楽天グローバル・バランス(安定型／成長型／積極型)●米ドル／円
当期の米ドル／円相場は、期央にかけて円高が進行したあと反転する展開となり、当期末には前期末比で米ドル高／円安となりました。期初から2017年年末頃までは、米ドル／円相場と米長期金利との連動性が高く、長期金利の上昇にあわせて米ドル高／円安が進行しました。しかし、2018年1月以降は、世界規模での景気拡大期待が台頭するなかで、長らく大規模な金融緩
和を続けてきた日本銀行の将来的な政策変更の思惑等から、米長期金利が上昇するなかでも円買い圧力が優勢な状況となり、3
月下旬頃まで急速に米ドル安／円高が進行しました。その後は、5月にかけて米長期金利が一段と上昇したことから、日米金利差の拡大等を材料に円安が進み、それ以降は米中の貿易摩擦への警戒と、良好な米国の企業業績を背景にした米国経済への楽観※ファンドの基準価額への反映を考慮し、作成期間
を1営業日前にずらして作成しております。
見通しとの綱引きが続くなか、米ドル／円相場もまとまった方向感に乏しい展開となりました。
●ユーロ／円
当期のユーロ／円相場では、期前半はユーロ高基調となった
ものの、後半はユーロが対円で下落し、前期末比でユーロ安／
円高となりました。期前半は域内の良好な経済指標やECB(欧州中央銀行)高官のタカ派的(金融引締めに積極的)な発言に加え、対米ドルで円安が進行したことなどを背景にユーロ高／円安基調となったものの、期後半に入るとイタリアやスペインでの政局不安やECBが早急な金融引き締めに動かないとの見方から、
ユーロ安基調に転じました。

※ファンドの基準価額への反映を考慮し、作成期間
を1営業日前にずらして作成しております。

■当ファンドのポートフォリオ
安定型、成長型、積極型の各ファンドとも、当期を通じて基本資産配分を維持するよう運用を行いました。
■当ファンドのベンチマークとの差異
安定型、成長型、積極型の各ファンドとも、運用の目標となるベンチマークおよび参考指数を設けておりません。

－ 10 －

楽天グローバル・バランス(安定型／成長型／積極型)■分配金
楽天グローバル・バランス(安定型)運用の基本方針等を勘案し、収益分配は見送らせていただきました。なお、留保益の運用については、特に制限を設けず、元本部分と同一の運用を行います。
楽天グローバル・バランス(成長型)
運用の基本方針等を勘案し、収益分配は見送らせていただきました。なお、留保益の運用については、特に制限を設けず、元本部分と同一の運用を行います。
楽天グローバル・バランス(積極型)
運用の基本方針等を勘案し、収益分配は見送らせていただきました。なお、留保益の運用については、特に制限を設けず、元本部分と同一の運用を行います。
●分配原資の内訳
楽天グローバル・バランス(安定型)(1万口当たり・税込)
第9期
項

目

当期分配金
(対基準価額比率)
当期の収益
当期の収益以外
翌期繰越分配対象額

2017年8月22日～2018年8月20日
(円)
(％)
(円)
(円)
(円)

－
(－)
－
－
3,554

(注1) ｢対基準価額比率｣は｢当期分配金｣の期末基準価額(分配金込み)に対する比率であり、ファンドの収益率とは異なります。
(注2) ｢当期の収益｣は経費控除後の配当等収益および経費控除後の有価証券売買等損益、｢当期の収益以外｣は収益調整金および分配準備積立金です。
(注3) ｢当期の収益｣および｢当期の収益以外｣は、円未満を切捨てて表示しているため、合計した額が｢当期分配金｣と一致しない場合があります。

楽天グローバル・バランス(成長型)(1万口当たり・税込)
第9期
項

目

当期分配金
(対基準価額比率)
当期の収益
当期の収益以外
翌期繰越分配対象額

2017年8月22日～2018年8月20日
(円)
(％)
(円)
(円)
(円)

－
(－)
－
－
5,601

(注1) ｢対基準価額比率｣は｢当期分配金｣の期末基準価額(分配金込み)に対する比率であり、ファンドの収益率とは異なります。
(注2) ｢当期の収益｣は経費控除後の配当等収益および経費控除後の有価証券売買等損益、｢当期の収益以外｣は収益調整金および分配準備積立金です。
(注3) ｢当期の収益｣および｢当期の収益以外｣は、円未満を切捨てて表示しているため、合計した額が｢当期分配金｣と一致しない場合があります。

－ 11 －

楽天グローバル・バランス(安定型／成長型／積極型)
楽天グローバル・バランス(積極型)(1万口当たり・税込)
第9期
項

目

当期分配金
(対基準価額比率)
当期の収益
当期の収益以外
翌期繰越分配対象額

2017年8月22日～2018年8月20日
(円)
(％)
(円)
(円)
(円)

－
(－)
－
－
7,000

(注1) ｢対基準価額比率｣は｢当期分配金｣の期末基準価額(分配金込み)に対する比率であり、ファンドの収益率とは異なります。
(注2) ｢当期の収益｣は経費控除後の配当等収益および経費控除後の有価証券売買等損益、｢当期の収益以外｣は収益調整金および分配準備積立金です。
(注3) ｢当期の収益｣および｢当期の収益以外｣は、円未満を切捨てて表示しているため、合計した額が｢当期分配金｣と一致しない場合があります。

■今後の運用方針
安定型、成長型、積極型の各ファンドとも、引き続き、ファンドにおける基本資産配分比率に沿った形で、実質的な投資対象市場の動向、ファンド全体のリスク分散状況、追加設定・一部解約による資金フロー等を鑑みながら、組入比率の調整を行ってまいります。

－ 12 －

楽天グローバル・バランス(安定型)

1万口当たりの費用明細
当期項目

2017年8月22日～2018年8月20日
金額(a) 信託報酬

項 目 の 概 要

比率

132円

(投信会社)(57)

1.003％ (a) 信託報酬＝期中の平均基準価額×信託報酬率※期中の平均基準価額は13,156円です。
(0.433) ・委託した資金の運用の対価(販売会社)(71)(0.540)(受託会社)(b) 売買委託手数料(4)2(0.030)0.015(2)(0.015)

0

0.000

(0)

(0.000)(d) その他費用

78

0.593

(保管費用)(65)(0.494)(監査費用)(3)(0.023)(印刷費用)(10)(0.076)(0)(0.000)

212

1.611

(投資信託受益証券)(c) 有価証券取引税(投資信託受益証券)

(その他)
合

計

・購入後の情報提供、交付運用報告書等各種書類の送付、口座内でのファンドの管理等の対価
・運用財産の管理、委託会社からの指図の実行の対価
期中の売買委託手数料(b) 売買委託手数料＝期中の平均受益権口数
売買委託手数料は、有価証券等の売買の際、売買仲介人に支払う手数料
期中の有価証券取引税(c) 有価証券取引税＝期中の平均受益権口数
有価証券取引税は、有価証券の取引の都度発生する取引に関する税金
期中のその他費用(d) その他費用＝期中の平均受益権口数
・保管費用は、海外における保管銀行等に支払う有価証券等の保管および資金の送金・資産の移転等に要する費用・監査費用は、監査法人等に支払うファンドの監査に係る費用・印刷費用は、有価証券届出書、目論見書、運用報告書等の作成､印刷および提出等に係る費用・その他は、金銭信託への預入金額に対する手数料等(注1) 期中の費用(消費税等のかかるものは消費税等を含む)は、追加・解約により受益権口数に変動があるため、簡便法により算出した結果です。
(注2) 各金額は各項目ごとに円未満は四捨五入してあります。
(注3) 各比率は1万口当たりのそれぞれの費用金額を期中の平均基準価額で除して100を乗じたものです。
(注4) 各項目の費用は、このファンドが組み入れている投資信託証券が支払った費用を含みません。
当該投資信託証券の直近の計算期末時点における｢1万口当たりの費用明細｣が取得できるものについては｢組入ファンドの概要｣に表示することとしております。

－ 13 －

楽天グローバル・バランス(安定型)

売買および取引の状況■投資信託証券
当外アイルランド米国

国

iシェアーズ 世界国債 UCITS ETF
小計iシェアーズ・コア S&P 500 ETF
iシェアーズ MSCI EAFE ETF
iシェアーズ MSCI エマージング・マーケット ETF
小計

買
単位数又は口数
千口
0.1
0.1
千口
－
－
－
－

付
金

額
千米ドル
10
10
千米ドル
－
－
－
－

期
売
単位数又は口数
千口
0.607
0.607
千口
0.064
0.282
0.231
0.577

(注1) 金額は受渡し代金。
(注2) 金額の単位未満は切捨て。

利害関係人※との取引状況等
該当事項はありません。
※ 利害関係人とは、投資信託及び投資法人に関する法律第11条第1項に規定されている利害関係人です。

自社による当ファンドの設定・解約状況
該当事項はありません。

－ 14 －

付
金

額
千米ドル
66
66
千米ドル
17
20
11
49

楽天グローバル・バランス(安定型)

組入資産の明細■ファンド・オブ・ファンズが組入れた外貨建ファンドの明細
ファンド名

単位数又は口数
千口
0.339
4.232
0.292
0.715
1.378
6.956
5

iシェアーズ J.P.モルガン・米ドル建てエマージング・マーケット債券 UCITS ETF
iシェアーズ 世界国債 UCITS ETF
iシェアーズ・コア S＆P 500 ETF
iシェアーズ MSCI エマージング・マーケット ETF
iシェアーズ MSCI EAFE ETF
口
数
・
金
額
合
計
銘
柄
数 <比
率>

当
期
末
評
価
額
外貨建金額
邦貨換算金額
千米ドル
千円
35
3,945
446
49,367
83
9,266
30
3,336
91
10,113－76,029－<98.3％>

比

率
％
5.1
63.8
12
4.3
13.1

(注1) 邦貨換算金額は期末の時価をわが国の対顧客電信売買相場の仲値により、邦貨換算したものです。
(注2) < >内は純資産総額に対する評価額の比率です。
(注3) 評価額の単位未満は切捨て。

投資信託財産の構成
項

投
短
投

期
資

資
金

信
融
信

当

目

資
託

評 価 額

託
産
財

証
そ

、
産

の
総

券
他
額

期

末
比

千円
76,0291,762
77,791

率
％
97.7
2.3
100.0

(注1) 評価額の単位未満は切捨て。
(注2) 外貨建資産は、当期末の時価をわが国の対顧客電信売買相場の仲値により邦貨換算したものです。なお、当期末における邦貨換算レート
は、1米ドル＝110.56円です。
(注3) 当期末における外貨建資産(76,707千円)の投資信託財産総額(77,791千円)に対する比率は、98.6％です。

－ 15 －

楽天グローバル・バランス(安定型)

資産、負債、元本及び基準価額の状況ならびに損益の状況■損益の状況

■資産、負債、元本及び基準価額の状況(2018年8月20日現在)
項

目

当 期 末

(Ａ) 資

産

77,791,892円

コ ー ル ・ ロ ー ン 等
未

収

配

当

1,747,107

金

15,734

投 資 信 託 受 益 証 券

76,029,051

(Ｂ) 負

債

427,813酬

387,383

そ の 他 未 払 費 用

40,430(Ｃ) 純 資 産 総 額(Ａ－Ｂ)

77,364,079

未

払

信

託

報

元

本

59,849,719

次 期 繰 越 損 益 金

17,514,360

(Ｄ) 受

益

権

総

口

数

59,849,719口

１万口当たり基準価額(Ｃ／Ｄ)

12,926円(注) 期首元本額
期中追加設定元本額期中一部解約元本額<分配金の計算過程>
項目(Ａ)配当等収益額（費用控除後）(Ｂ)有価証券売買等損益額（費用控除後・繰越欠損金補填後）(Ｃ)収益調整金額(Ｄ)分配準備積立金額(Ｅ)分配対象収益額（Ａ＋Ｂ＋Ｃ＋Ｄ）(Ｆ)期末残存口数(Ｇ)収益分配対象額（１万口当たり）(Ｅ／Ｆ×10,000）(Ｈ)分配金額（１万口当たり）(Ｉ)収益分配金金額(Ｆ×Ｈ／10,000）

70,037,949円
9,622,808円
19,811,038円(自2017年8月22日
項
目
(Ａ) 配
当
等
収
益
受
取
配
当
金
受
取
利
息
支
払
利
息
(Ｂ) 有 価 証 券 売 買 損 益
売
買
益
売
買
損
(Ｃ) 信
託
報
酬
等
(Ｄ) 当 期 損 益 金(Ａ＋Ｂ＋Ｃ)(Ｅ) 前 期 繰 越 損 益 金(Ｆ) 追 加 信 託 差 損 益 金(配 当 等 相 当 額)
(売 買 損 益 相 当 額)(Ｇ)
合計
(Ｄ＋Ｅ＋Ｆ)
(Ｈ) 収
益
分
配
金
次 期 繰 越 損 益 金(Ｇ＋Ｈ)
追 加 信 託 差 損 益 金(配 当 等 相 当 額)
(売 買 損 益 相 当 額)
分 配 準 備 積 立 金
繰
越
損
益
金

至2018年8月20日)
当期
1,275,099円
1,284,902
141△9,944
116,1812,608,186△2,492,005△1,357,380
33,9008,011,068
9,469,392(10,145,669)(△676,277)
17,514,360－
17,514,360
9,469,392(10,145,669)(△676,277)
11,127,856△3,082,888(注1) 損益の状況の中で(B)有価証券売買損益は期末の評価替えによるものを含みます。
(注2) 損益の状況の中で(C)信託報酬等には信託報酬に対する消費税等相当額を含めて表示しています。
(注3) 損益の状況の中で(F)追加信託差損益金とあるのは、信託の追加設定の際、追加設定をした価額から元本を差し引いた差額分をいいます。

当期
31,060円－円
10,145,669円
11,096,796円
21,273,525円
59,849,719口
3,554.49円
－円
－円

お知らせ
該当事項はありません。
－ 16 －

楽天グローバル・バランス(成長型)

1万口当たりの費用明細
当期項目

2017年8月22日～2018年8月20日
金額(a) 信託報酬

項 目 の 概 要

比率

157円

(投信会社)(68)

1.000％ (a) 信託報酬＝期中の平均基準価額×信託報酬率※期中の平均基準価額は15,688円です｡(0.433) ・委託した資金の運用の対価(販売会社)(84)(0.535)(受託会社)(b) 売買委託手数料(5)2(0.032)0.013(2)(0.013)

0

0.000

(0)

(0.000)(d) その他費用

40

0.254

(保管費用)(25)(0.159)(監査費用)(4)(0.025)(印刷費用)(11)(0.070)(0)(0.000)

199

1.267

(投資信託受益証券)(c) 有価証券取引税(投資信託受益証券)

(その他)
合

計

・購入後の情報提供、交付運用報告書等各種書類の送付、口座内でのファンドの管理等の対価
・運用財産の管理、委託会社からの指図の実行の対価
期中の売買委託手数料(b) 売買委託手数料＝期中の平均受益権口数
売買委託手数料は、有価証券等の売買の際、売買仲介人に支払う手数料
期中の有価証券取引税(c) 有価証券取引税＝期中の平均受益権口数
有価証券取引税は、有価証券の取引の都度発生する取引に関する税金
期中のその他費用(d) その他費用＝期中の平均受益権口数
・保管費用は、海外における保管銀行等に支払う有価証券等の保管および資金の送金・資産の移転等に要する費用・監査費用は、監査法人等に支払うファンドの監査に係る費用・印刷費用は、有価証券届出書、目論見書、運用報告書等の作成、印刷および提出等に係る費用・その他は、金銭信託への預入金額に対する手数料等(注1) 期中の費用(消費税等のかかるものは消費税等を含む)は、追加・解約により受益権口数に変動があるため、簡便法により算出した結果です。
(注2) 各金額は各項目ごとに円未満は四捨五入してあります。
(注3) 各比率は1万口当たりのそれぞれの費用金額を期中の平均基準価額で除して100を乗じたものです。
(注4) 各項目の費用は、このファンドが組み入れている投資信託証券が支払った費用を含みません。
当該投資信託証券の直近の計算期末時点における｢1万口当たりの費用明細｣が取得できるものについては｢組入ファンドの概要｣に表示することとしております。

－ 17 －

楽天グローバル・バランス(成長型)

売買および取引の状況■投資信託証券
当外

国

買単位数又は口数
千口
アイルランド iシェアーズ 世界国債 UCITS ETF
0.305
iシェアーズ J.P.モルガン・米ドル建てエマージング・マーケット債券 UCITS ETF
0.115
小
計
0.42
千口
iシェアーズ・コア S&P 500 ETF
0.033
米
国 iシェアーズ MSCI EAFE ETF
0.2
iシェアーズ MSCI エマージング・マーケット ETF
0.244
iシェアーズ 米国不動産 ETF
0.169
小
計
0.646

付
金

額
千米ドル
32
12
45
千米ドル
8
13
11
12
46

期
売
単位数又は口数
千口
0.495
－
0.495
千口
0.25
0.89
0.794
－
1.934

(注1) 金額は受渡し代金。
(注2) 金額の単位未満は切捨て。

利害関係人※との取引状況等
該当事項はありません。
※ 利害関係人とは、投資信託及び投資法人に関する法律第11条第1項に規定されている利害関係人です。

自社による当ファンドの設定・解約状況
該当事項はありません。

－ 18 －

付
金

額
千米ドル
53
－
53
千米ドル
66
62
38
－
168

楽天グローバル・バランス(成長型)

組入資産の明細■ファンド・オブ・ファンズが組入れた外貨建ファンドの明細
ファンド名

単位数又は口数
千口
1.601
8.294
1.492
3.846
7.071
1.558
7.309
31.171
7iシェアーズ J.P.モルガン・米ドル建てエマージング・マーケット債券 UCITS ETF
iシェアーズ 世界国債 UCITS ETF
iシェアーズ・コア S＆P 500 ETF
iシェアーズ MSCI エマージング・マーケット ETF
iシェアーズ MSCI EAFE ETF
iシェアーズ 米国不動産 ETF
iシェアーズ S&P GSCITM コモディティ・インデックス・トラスト
口
数
・
金
額
合
計
銘
柄
数 <比
率>

当
期
末
評
価
額
外貨建金額
邦貨換算金額
千米ドル
千円
168
18,633875
96,751
428
47,348162
17,948469
51,893129
14,324122
13,591－
260,491－<97.6％>

比

率
％
7
36.2
17.7
6.7
19.4
5.4
5.1

(注1) 邦貨換算金額は期末の時価をわが国の対顧客電信売買相場の仲値により、邦貨換算したものです。
(注2) < >内は純資産総額に対する評価額の比率です。
(注3) 評価額の単位未満は切捨て。

投資信託財産の構成
項

投
短
投

期
資

資
金

信
融
信

当

目

資
託

評 価 額

託
産
財

証
そ

、
産

の
総

券
他
額

期

末
比

千円
260,491
7,849
268,340

率
％
97.1
2.9
100.0

(注1) 評価額の単位未満は切捨て。
(注2) 外貨建資産は、当期末の時価をわが国の対顧客電信売買相場の仲値により邦貨換算したものです。なお、当期末における邦貨換算レート
は、1米ドル＝110.56円です。
(注3) 当期末における外貨建資産(261,285千円)の投資信託財産総額(268,340千円)に対する比率は、97.4％です。

－ 19 －

楽天グローバル・バランス(成長型)

資産、負債、元本及び基準価額の状況ならびに損益の状況■損益の状況

■資産、負債、元本及び基準価額の状況(2018年8月20日現在)
項

目

当 期 末

(Ａ) 資

産

268,340,701円

コ ー ル ・ ロ ー ン 等
未

収

配

当

7,774,410

金74,307

投 資 信 託 受 益 証 券

260,491,984

(Ｂ) 負

債

1,420,033

酬

1,308,070

そ の 他 未 払 費 用

111,963(Ｃ) 純 資 産 総 額(Ａ－Ｂ)

266,920,668

未

払

信

託

報

元

本

171,082,370

次 期 繰 越 損 益 金95,838,298

(Ｄ) 受

益

権

総

口

数

171,082,370口

１万口当たり基準価額(Ｃ／Ｄ)

15,602円(注) 期首元本額
期中追加設定元本額期中一部解約元本額<分配金の計算過程>
項目(Ａ)配当等収益額（費用控除後）(Ｂ)有価証券売買等損益額（費用控除後・繰越欠損金補填後）(Ｃ)収益調整金額(Ｄ)分配準備積立金額(Ｅ)分配対象収益額（Ａ＋Ｂ＋Ｃ＋Ｄ）(Ｆ)期末残存口数(Ｇ)収益分配対象額（１万口当たり）(Ｅ／Ｆ×10,000）(Ｈ)分配金額（１万口当たり）(Ｉ)収益分配金金額(Ｆ×Ｈ／10,000）

179,935,925円
15,585,932円
24,439,487円(自2017年8月22日
項
目
(Ａ) 配
当
等
収
益
受
取
配
当
金
受
取
利
息
支
払
利
息
(Ｂ) 有 価 証 券 売 買 損 益
売
買
益
売
買
損
(Ｃ) 信
託
報
酬
等
(Ｄ) 当 期 損 益 金(Ａ＋Ｂ＋Ｃ)(Ｅ) 前 期 繰 越 損 益 金(Ｆ) 追 加 信 託 差 損 益 金(配 当 等 相 当 額)
(売 買 損 益 相 当 額)(Ｇ)
合計
(Ｄ＋Ｅ＋Ｆ)
(Ｈ) 収
益
分
配
金
次 期 繰 越 損 益 金(Ｇ＋Ｈ)
追 加 信 託 差 損 益 金(配 当 等 相 当 額)
(売 買 損 益 相 当 額)
分 配 準 備 積 立 金
繰
越
損
益
金

至2018年8月20日)
当期4,899,721円
4,794,251
691
104,779
7,414,304
13,814,683△6,400,379△3,432,273
8,881,752
39,137,979
47,818,567(44,593,747)(3,224,820)
95,838,298－
95,838,298
47,818,567(44,593,747)(3,224,820)
50,631,788△2,612,057(注1) 損益の状況の中で(B)有価証券売買損益は期末の評価替えによるものを含みます。
(注2) 損益の状況の中で(C)信託報酬等には信託報酬に対する消費税等相当額を含めて表示しています。
(注3) 損益の状況の中で(F)追加信託差損益金とあるのは、信託の追加設定の際、追加設定をした価額から元本を差し引いた差額分をいいます。

当期
3,534,019円－円
45,206,510円
47,097,769円
95,838,298円
171,082,370口
5,601.88円
－円
－円

お知らせ
該当事項はありません。
－ 20 －

楽天グローバル・バランス(積極型)

1万口当たりの費用明細
当期項目

2017年8月22日～2018年8月20日
金額(a) 信託報酬

項 目 の 概 要

比率

169円

(投信会社)(73)

0.996％ (a) 信託報酬＝期中の平均基準価額×信託報酬率※期中の平均基準価額は16,959円です。
(0.430) ・委託した資金の運用の対価(販売会社)(91)(0.537)(受託会社)(b) 売買委託手数料(5)2(0.029)0.012(2)(0.012)

0

0.000

(0)

(0.000)(d) その他費用

22

0.130

(保管費用)(5)(0.029)(監査費用)(4)(0.024)(印刷費用)(13)(0.077)(0)(0.000)

193

1.138

(投資信託受益証券)(c) 有価証券取引税(投資信託受益証券)

(その他)
合

計

・購入後の情報提供、交付運用報告書等各種書類の送付、口座内でのファンドの管理等の対価
・運用財産の管理、委託会社からの指図の実行の対価
期中の売買委託手数料(b) 売買委託手数料＝期中の平均受益権口数
売買委託手数料は、有価証券等の売買の際、売買仲介人に支払う手数料
期中の有価証券取引税(c) 有価証券取引税＝期中の平均受益権口数
有価証券取引税は、有価証券の取引の都度発生する取引に関する税金
期中のその他費用(d) その他費用＝期中の平均受益権口数
・保管費用は、海外における保管銀行等に支払う有価証券等の保管および資金の送金・資産の移転等に要する費用・監査費用は、監査法人等に支払うファンドの監査に係る費用・印刷費用は、有価証券届出書、目論見書、運用報告書等の作成、印刷および提出等に係る費用・その他は、金銭信託への預入金額に対する手数料等(注1) 期中の費用(消費税等のかかるものは消費税等を含む)は、追加・解約により受益権口数に変動があるため、簡便法により算出した結果です。
(注2) 各金額は各項目ごとに円未満は四捨五入してあります。
(注3) 各比率は1万口当たりのそれぞれの費用金額を期中の平均基準価額で除して100を乗じたものです。
(注4) 各項目の費用は、このファンドが組み入れている投資信託証券が支払った費用を含みません。
当該投資信託証券の直近の計算期末時点における｢1万口当たりの費用明細｣が取得できるものについては｢組入ファンドの概要｣に表示することとしております。

－ 21 －

楽天グローバル・バランス(積極型)

売買および取引の状況■投資信託証券
当外

国

買単位数又は口数
千口
アイルランド iシェアーズ 世界国債 UCITS ETF
2.429
iシェアーズ J.P.モルガン・米ドル建てエマージング・マーケット債券 UCITS ETF
2.247
小
計
4.676
千口
iシェアーズ・コア S＆P 500 ETF
0.164
iシェアーズ MSCI EAFE ETF
2.943
米
国
iシェアーズ MSCI エマージング・マーケット ETF
3.621
iシェアーズ S&P GSCITM コモディティ・インデックス・トラスト
4.5
iシェアーズ 米国不動産 ETF
3.1
小計
14.328

付
金

額
千米ドル
262
250
512
千米ドル
43
199
160
76
242
722

期
売
単位数又は口数
千口
0.3
－
0.3
千口
0.5
－
6.4
－
－
6.9

(注1) 金額は受渡し代金。
(注2) 金額の単位未満は切捨て。

利害関係人※との取引状況等
該当事項はありません。
※ 利害関係人とは、投資信託及び投資法人に関する法律第11条第1項に規定されている利害関係人です。

自社による当ファンドの設定・解約状況
該当事項はありません。

－ 22 －

付
金

額
千米ドル
32
－
32
千米ドル
134
－
306
－
－
441

楽天グローバル・バランス(積極型)

組入資産の明細■ファンド・オブ・ファンズが組入れた外貨建ファンドの明細
ファンド名

単位数又は口数
千口
15.39423.15912.27236.81559.74921.57696.131265.0967

iシェアーズ J.P.モルガン・米ドル建てエマージング・マーケット債券 UCITS ETF
iシェアーズ 世界国債 UCITS ETF
iシェアーズ・コア S＆P 500 ETF
iシェアーズ MSCI エマージング・マーケット ETF
iシェアーズ MSCI EAFE ETF
iシェアーズ 米国不動産 ETF
iシェアーズ S&P GSCITM コモディティ・インデックス・トラスト
口
数
・
金
額
合
計
銘
柄
数 <比
率>

当
期
末
評
価
額
外貨建金額
邦貨換算金額
千米ドル
千円
1,620
179,165
2,443
270,1543,522
389,453
1,553
171,805
3,966
438,496
1,794
198,373
1,616
178,767－
1,826,215－<97.9％>

比

率
％
9.6
14.5
20.9
9.2
23.5
10.6
9.6

(注1) 邦貨換算金額は期末の時価をわが国の対顧客電信売買相場の仲値により、邦貨換算したものです。
(注2) < >内は純資産総額に対する評価額の比率です。
(注3) 評価額の単位未満は切捨て。

投資信託財産の構成
項

投
短
投

期
資

資
金

信
融
信

当

目

資
託

評 価 額

託
産
財

証
そ

、
産

の
総

券
他
額

千円
1,826,215
49,283
1,875,498

期

末
比

率
％
97.4
2.6
100.0

(注1) 評価額の単位未満は切捨て。
(注2) 外貨建資産は、当期末の時価をわが国の対顧客電信売買相場の仲値により邦貨換算したものです。なお、当期末における邦貨換算レート
は、1米ドル＝110.56円です。
(注3) 当期末における外貨建資産(1,829,733千円)の投資信託財産総額(1,875,498千円)に対する比率は、97.6％です。

－ 23 －

楽天グローバル・バランス(積極型)

資産、負債、元本及び基準価額の状況ならびに損益の状況■損益の状況

■資産、負債、元本及び基準価額の状況(2018年8月20日現在)
項

目

当 期 末

(Ａ) 資

産

1,875,498,419円

コ ー ル ・ ロ ー ン 等
未

収

配

当

48,568,151

金714,484

投 資 信 託 受 益 証 券

1,826,215,784

(Ｂ) 負
未

払

未

払

解
信

託

債

9,924,962

約

金41,001報酬

9,018,764

そ の 他 未 払 費 用865,197(Ｃ) 純 資 産 総 額(Ａ－Ｂ)

1,865,573,457

元

本

1,097,356,498

次 期 繰 越 損 益 金
(Ｄ) 受

益

権

総

口

数

768,216,959
1,097,356,498口

１万口当たり基準価額(Ｃ／Ｄ)(注) 期首元本額
期中追加設定元本額期中一部解約元本額

17,001円
1,059,698,273円
138,585,940円
100,927,715円(自2017年8月22日
項
目
(Ａ) 配
当
等
収
益
受
取
配
当
金
受
取
利
息
支
払
利
息
(Ｂ) 有 価 証 券 売 買 損 益
売
買
益
売
買
損
(Ｃ) 信
託
報
酬
等
(Ｄ) 当 期 損 益 金(Ａ＋Ｂ＋Ｃ)(Ｅ) 前 期 繰 越 損 益 金(Ｆ) 追 加 信 託 差 損 益 金(配 当 等 相 当 額)
(売 買 損 益 相 当 額)(Ｇ)
合計
(Ｄ＋Ｅ＋Ｆ)
(Ｈ) 収
益
分
配
金
次 期 繰 越 損 益 金(Ｇ＋Ｈ)
追 加 信 託 差 損 益 金(配 当 等 相 当 額)
(売 買 損 益 相 当 額)
分 配 準 備 積 立 金
繰
越
損
益
金

至2018年8月20日)
当期
37,621,057円
37,163,678
5,321
452,058
78,341,562
113,989,606△35,648,044△20,704,436
95,258,183
244,786,374
428,172,402(395,187,148)(32,985,254)
768,216,959－
768,216,959
428,172,402(395,187,148)(32,985,254)
340,044,557
0(注1) 損益の状況の中で(B)有価証券売買損益は期末の評価替えによるものを含みます。
(注2) 損益の状況の中で(C)信託報酬等には信託報酬に対する消費税等相当額を含めて表示しています。
(注3) 損益の状況の中で(F)追加信託差損益金とあるのは、信託の追加設定の際、追加設定をした価額から元本を差し引いた差額分をいいます。

<分配金の計算過程>
当期
項目(Ａ)配当等収益額（費用控除後）
30,904,537円(Ｂ)有価証券売買等損益額
25,674,903円（費用控除後・繰越欠損金補填後）(Ｃ)収益調整金額
428,172,402円(Ｄ)分配準備積立金額
283,465,117円(Ｅ)分配対象収益額（Ａ＋Ｂ＋Ｃ＋Ｄ）
768,216,959円(Ｆ)期末残存口数
1,097,356,498口(Ｇ)収益分配対象額（１万口当たり）
7,000.61円(Ｅ／Ｆ×10,000）(Ｈ)分配金額（１万口当たり）－円(Ｉ)収益分配金金額－円(Ｆ×Ｈ／10,000）

お知らせ
該当事項はありません。
－ 24 －

■組入ファンドの概要
以下は、『楽天グローバル・バランス(安定型／成長型／積極型)』が組み入れている投資信託証券(ファンド)の状況として、当期末において入手できる直近の情報を掲げております。
ファンド名

運用会社

実質的な主要投資対象

運用の基本方針

決算日

先進国株式
1

ｉシェアーズ・コア ブラックロック・ファン
米国の大型株式S&P 500 ETF
ド・アドバイザーズ

S&P500指数に連動する投資成果を2018年3月31日
目指す

2

米国およびカナダを除く 米国およびカナダを除く先進国のｉ シ ェ ア ー ズ MSCI ブラックロック・ファン
先進国の大型および中型 大型および中型株式で構成される 2017年7月31日
EAFE ETF
ド・アドバイザーズ
株式指数に連動する投資成果を目指す

新興国株式
3

ｉ シ ェ ア ー ズ MSCI
新興国の大型および中型株式で構
ブラックロック・ファン 新興国の大型および中型
エマージング・マー
成される指数に連動する投資成果 2017年8月31日
ド・アドバイザーズ
株式ケット ETF
を目指す

先進国債券
4

ブラックロック・アドバ
ｉシェアーズ 世界国
イザーズ（UK）リミテッ 先進国の国債
債UCITS ETF
ドシティグループG7指数に連動する
2017年6月30日
投資成果を目指す

新興国債券

5ｉシェアーズ J.P.モ
ブラックロック・アドバ
ルガン・米ドル建て
イザーズ（UK）リミテッ 新興国の債券
エマージング・マー
ドケット債券UCITS ETF

J.P.モルガンEMBIグローバル・コ
ア指数に連動する投資成果を目指 2017年10月31日
す不動産投資信託（REIT）
6

ｉシェアーズ 米国不 ブラックロック・ファン 米国市場に上場するリー ダウ・ジョーンズ米国不動産指数
2018年3月31日
動産 ETFド・アドバイザーズ
トおよび不動産株に連動する投資成果を目指す

商品（コモディティ）

7ｉ シ ェ ア ー ズ S&P
iシェアーズ・デラウェ
GSCI™
コ モ デ ィア ・ ト ラ ス ト ・ ス ポ ン 商品(コモディティ)
ティ・インデック
サー・エルエルシー
ス・トラスト－ 25 －

S&P GSCI™ トータル・リターン
2017年12月31日
指数に連動する投資成果を目指す

１．iシェアーズ・コア S&P 500 ETF■損益計算書Year ended March 31, 2018
iShares Core
S&P 500
ETF

NET INVESTMENT INCOME
Dividends — unaffiliated$2,555,705,566

Dividends — affiliated18,413,930

Interest — unaffiliated91,2553,474,720

Securities lending income — affiliated — net
Total investment income

2,577,685,471

EXPENSES
Investment advisory fees

51,925,165

Proxy fees

2,363,696

Total expenses

54,288,861

Net investment income

2,523,396,610

NET REALIZED AND UNREALIZED GAIN (LOSS)
Net realized gain (loss) from:
Investments — unaffiliated(587,278,374)

Investments — affiliated(611,567)

In-kind redemptions — unaffiliated

10,230,157,428

In-kind redemptions — affiliated76,126,054
64,632,464

Futures contracts
Net realized gain

9,783,026,005

Net change in unrealized appreciation/depreciation on:
Investments — unaffiliated3,572,916,502

Investments — affiliated128,025,428(10,641,732)

Futures contracts
Net change in unrealized appreciation/depreciation

3,690,300,198

Net realized and unrealized gain

13,473,326,203

NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS$15,996,722,813－ 26 －

１．iシェアーズ・コア S&P 500 ETF■組入上位10銘柄

TEN LARGEST FUND HOLDINGSAs of 3/31/18
Security
Apple Inc.

Percentage ofTotal Investments*
3.78%

Microsoft Corp.

3.12

Amazon.com Inc.

2.58

Berkshire Hathaway Inc. Class B

1.71

Facebook Inc. Class A

1.70

JPMorgan Chase & Co.

1.68

Johnson & Johnson

1.53

Exxon Mobil Corp.

1.41

Alphabet Inc. Class C NVS

1.40

Alphabet Inc. Class A

1.38

TOTAL

20.29%* Excludes money market funds.

－ 27 －

２．iシェアーズ MSCI EAFE ETF■損益計算書Year ended July 31, 2017

iShares
MSCI EAFE ETF

NET INVESTMENT INCOME
Dividends — unaffiliateda$2,027,771,623

Dividends — affiliated315,081

Securities lending income — affiliated — net

9,285,769
354,353

Foreign withholding tax claims

2,037,726,826―

Less: Other foreign taxes
Total investment income

2,037,726,826

EXPENSES
Investment advisory fees

207,017,531

Proxy fees

1,528,620
65,930Professional fees
Total expenses

208,612,081

Net investment income

1,829,114,745

NET REALIZED AND UNREALIZED GAIN (LOSS)
Net realized gain (loss) from:

Investments — unaffiliated(9,873,399)

Investments — affiliated52,718In-kind redemptions — unaffiliated468,280,606

Futures contracts

92,703,162

Foreign currency transactions(21,912,413)
985

Realized gain distributions from affiliated funds
Net realized gain

529,251,659

Net change in unrealized appreciation/depreciation on:
Investments

8,725,223,887

Futures contracts(26,055,377)
12,021,475

Translation of assets and liabilities in foreign currencies
Net change in unrealized appreciation/depreciation

8,711,189,985

Net realized and unrealized gain

9,240,441,644

NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS
a Net of foreign withholding tax of $151,562,421.

－ 28 －$11,069,556,389

２．iシェアーズ MSCI EAFE ETF■組入銘柄

July 31, 2017
Security

SharesValue

COMMON STOCKS — 98.89%
AUSTRALIA — 7.11%
AGL Energy Ltd.
Alumina Ltd.
Amcor Ltd./Australia
AMP Ltd.
APA Group
Aristocrat Leisure Ltd.
ASX Ltd.
Aurizon Holdings Ltd.
AusNet Services
Australia & New Zealand
Banking Group Ltd.
Bank of Queensland Ltd.
Bendigo & Adelaide Bank Ltd.
BGP Holdings PLCa,b
BHP Billiton Ltd.
BlueScope Steel Ltd.
Boral Ltd.
Brambles Ltd.
Caltex Australia Ltd.
Challenger Ltd./Australia
CIMIC Group Ltd.
Coca-Cola Amatil Ltd.
Cochlear Ltd.
Commonwealth Bank
of Australia
Computershare Ltd.
Crown Resorts Ltd.
CSL Ltd.
Dexus
Domino’s PizzaEnterprises Ltd.c
Flight Centre TravelGroup Ltd.c
Fortescue Metals Group Ltd.
Goodman GroupGPT Group (The)Harvey Norman Holdings Ltd.
Healthscope Ltd.
Incitec Pivot Ltd.
Insurance Australia Group Ltd.
James Hardie Industries PLC
LendLease Group
Macquarie Group Ltd.

3,767,532 $
13,651,179
6,479,267
16,504,843
6,140,137
3,027,688
1,070,666
11,297,276
9,638,194

72,488,227
20,707,003
79,349,597
71,022,123
42,255,069
48,947,401
44,704,288
45,276,301
12,580,761

16,286,455
2,114,138
2,614,868
33,026,812
17,862,720
3,137,877
6,465,171
8,873,773
1,472,800
3,127,236
555,029
3,158,019
320,010385,258,032
20,338,263
23,213,897
389
368,639,293
33,017,548
35,717,380
65,459,664
36,614,733
32,081,692
18,353,515
20,774,732
36,495,329

9,567,010
2,573,127
2,167,592
2,525,816
5,523,419

639,515,104
28,903,392
22,011,931
254,077,228
41,362,265

349,622

14,879,931

302,243
8,572,370
10,029,077
9,976,169
3,017,542
9,340,916
9,241,487
13,271,915
2,444,740
3,067,482
1,784,647

10,496,367
39,283,148
63,733,463
38,149,847
10,527,573
15,511,232
23,609,420
70,672,900
37,395,700
41,264,389
122,288,305

Security
Medibank Pvt Ltd.
Mirvac Group
National Australia Bank Ltd.
Newcrest Mining Ltd.
Oil Search Ltd.
Orica Ltd.
Origin Energy Ltd.b
Qantas Airways Ltd.
QBE Insurance Group Ltd.
Ramsay Health Care Ltd.
REA Group Ltd.
Rio Tinto Ltd.
Santos Ltd.b
Scentre Group
Seek Ltd.
Sonic Healthcare Ltd.
South32 Ltd.
Stockland
Suncorp Group Ltd.
Sydney Airport
Tabcorp Holdings Ltd.
Tatts Group Ltd.
Telstra Corp. Ltd.
TPG Telecom Ltd.c
Transurban Group
Treasury Wine Estates Ltd.
Vicinity Centres
Wesfarmers Ltd.
Westfield Corp.
Westpac Banking Corp.
Woodside Petroleum Ltd.
Woolworths Ltd.

Shares
15,221,000 $
20,363,113
14,827,265
4,278,438
7,628,413
2,072,903
9,777,221
2,813,865
7,585,409
783,678
301,206
2,366,557
10,315,856
29,514,381
1,846,296
2,145,159
29,606,792
13,329,182
7,136,203
6,139,194
4,500,860
7,919,801
23,237,518
2,013,995
11,459,604
4,092,603
18,566,057
6,264,833
10,941,454
18,608,434
4,214,913
7,144,000

Value
33,052,596
35,277,467
354,528,671
68,996,983
40,438,568
32,916,015
54,015,079
11,951,114
71,761,390
44,158,346
16,597,094
124,299,775
27,918,910
97,314,424
25,205,245
38,173,593
68,782,480
44,693,696
81,412,841
32,985,260
15,019,839
25,291,102
76,061,885
9,020,170
104,387,559
39,796,089
40,761,097
203,712,367
67,085,668
472,719,468
98,156,379
152,281,166
5,595,749,768

AUSTRIA — 0.25%
Andritz AG
Erste Group Bank AG
OMV AG
Raiffeisen BankInternational AGb
Voestalpine AG

410,417
1,660,663
834,465

25,050,565
68,752,454
47,046,976

789,603654,854

23,199,085
33,091,059
197,140,139

BELGIUM — 1.19%
Ageas
Anheuser-Busch InBev SA/NV
Colruyt SA－ 29 －

1,084,054
4,224,433
359,698

48,650,888
507,025,994
20,093,107

２．iシェアーズ MSCI EAFE ETF

July 31, 2017
SecurityGroupe Bruxelles Lambert SA
KBC Group NV
Proximus SADP
Solvay SA
Telenet Group Holding NVb
UCB SA
Umicore SA

Shares454,779 $
1,386,360
849,444413,213294,921699,958
532,726

Value
46,471,129
114,416,347
29,739,393
59,094,736
20,511,533
50,802,445
42,634,360
939,439,932

DENMARK — 1.82%
AP Moller – Maersk A/SClass AAP Moller – Maersk A/SClass B
Carlsberg A/S Class B
Chr Hansen Holding A/S
Coloplast A/S Class B
Danske Bank A/S
DONG Energy A/Sd
DSV A/S
Genmab A/Sb
H Lundbeck A/S
ISS A/S
Novo Nordisk A/S Class B
Novozymes A/S Class B
Pandora A/S
TDC A/S
Tryg A/S
Vestas Wind Systems A/SWilliam Demant Holding A/Sb

19,71841,013,715

37,142598,607548,318
666,023
4,076,625
830,094
1,061,419
315,651
386,357
920,006
10,047,258
1,288,164
615,515
4,391,957
667,934
1,233,630
670,62180,788,921
66,288,870
43,986,098
57,018,449
164,482,979
39,861,989
68,252,288
71,510,829
23,122,679
37,586,985
427,048,088
59,265,367
70,552,003
26,981,258
15,004,994
120,084,155
17,765,851
1,430,615,518

FINLAND — 1.01%
Elisa OYJ
Fortum OYJ
Kone OYJ Class B
Metso OYJ
Neste OYJ
Nokia OYJ
Nokian Renkaat OYJOrion OYJ Class B
Sampo OYJ Class A
Stora Enso OYJ Class R
UPM-Kymmene OYJ
Wartsila OYJ Abp

795,924
2,505,696
1,889,994
625,889
723,722
32,404,169
636,881572,774
2,470,415
3,022,634
2,955,936
821,593

32,627,989
40,827,280
98,067,660
19,835,384
31,255,231
205,540,394
25,890,448
28,855,607
134,650,456
40,269,666
80,191,007
54,390,182
792,401,304

Security
FRANCE — 10.24%
Accor SA
Aeroports de Paris
Air Liquide SA
Airbus SE
Alstom SA
Arkema SA
Atos SEAXA SABNP Paribas SA
Bollore SA
Bouygues SA
Bureau Veritas SA
Capgemini SE
Carrefour SA
Casino Guichard
Perrachon SA
Cie. de Saint-Gobain
Cie. Generale desEtablissements Michelin
Class B
CNP Assurances
Credit Agricole SA
Danone SA
Dassault Aviation SA
Dassault Systemes SE
EdenredEiffage SA
Electricite de France SA
Engie SA
Essilor International SA
Eurazeo SA
Eurofins Scientific SE
Eutelsat Communications SA
Fonciere des Regions
Gecina SA
Groupe Eurotunnel
SE Registered
Hermes International
ICADE
Iliad SA
Imerys SA
Ingenico Group SA
Ipsen SAJCDecaux SA
Kering－ 30 －

SharesValue

1,008,557 $
161,292
2,158,948
3,228,874
859,381
373,070
530,448
10,750,767
6,225,238
4,625,937
1,161,404
1,451,272
900,752
3,115,279

46,683,646
27,202,869
263,958,079
268,763,210
30,685,086
42,304,749
80,332,438
316,372,008
481,254,900
21,379,611
49,630,133
32,929,168
97,702,816
74,578,555

314,443
2,759,541

19,107,346
152,556,636

948,622943,572
6,258,060
3,279,895
14,028725,636
1,212,521
399,985
3,001,056
9,466,793
1,149,421
246,277
63,223960,294
179,466
226,389

127,892,001
22,694,428
109,567,108
243,968,912
20,944,188
70,914,489
31,736,298
38,599,032
30,329,851
151,850,228
145,138,496
20,020,372
35,063,594
25,915,765
17,272,134
34,058,069

2,551,937
167,689
204,019
148,387
191,020324,640
203,842405,711421,153

28,167,779
84,617,924
17,455,880
36,677,924
16,487,821
33,919,371
26,015,705
14,376,314
146,727,462

２．iシェアーズ MSCI EAFE ETF

July 31, 2017
Security
Klepierre
L’Oreal SA
Lagardere SCA
Legrand SA
LVMH Moet Hennessy Louis
Vuitton SE
Natixis SA
Orange SA
Pernod Ricard SA
Peugeot SA
Publicis Groupe SA
Remy Cointreau SA
Renault SA
Rexel SA
Safran SA
SanofiSchneider Electric SE
SCOR SESEB SASES SA
Societe BIC SA
Societe Generale SA
Sodexo SA
STMicroelectronics NV
Suez
Thales SA
Total SA
Unibail-Rodamco SE
Valeo SA
Veolia Environnement SA
Vinci SA
Vivendi SA
Wendel SA
Zodiac Aerospace

Shares1,231,382 $
1,401,915
670,600
1,483,096
1,549,382
5,138,242
11,055,443
1,182,313
2,657,949
1,135,350
129,368
981,989
1,649,857
1,742,182
6,463,069
3,112,042
914,241
122,8022,041,697
161,252
4,251,129
509,7733,550,496
2,043,295
592,392
12,975,529
550,023
1,353,600
2,660,159
2,800,136
5,787,455
173,029
1,134,549

Value
49,905,628
289,415,542
21,940,199
102,116,549
388,543,830
37,214,235
185,348,795
163,440,370
56,986,760
85,548,540
14,836,102
88,175,428
26,036,266
164,178,905
615,083,343
243,444,741
38,389,076
21,768,219
47,842,344
18,834,812
248,599,345
60,000,093
60,404,512
36,810,223
65,366,112
657,208,794
137,055,707
93,423,704
59,762,749
250,045,156
133,534,189
25,948,964
32,303,859
8,055,365,486

GERMANY — 8.82%
adidas AG
Allianz SE Registered
Axel Springer SE
BASF SE
Bayer AG Registered
Bayerische Motoren Werke AG
Beiersdorf AG
Brenntag AG
Commerzbank AGb
Continental AG

1,047,028
2,533,377
261,354
5,096,901
4,589,214
1,824,100
572,716
858,255
5,888,941
609,475

238,248,198
537,633,534
16,559,256
484,285,398
579,755,004
167,124,289
62,594,053
48,514,737
76,929,159
136,887,848

Security
Covestro AGd
Daimler AG Registered
Deutsche BankAG Registeredc
Deutsche Boerse AG
Deutsche Lufthansa
AG Registered
Deutsche Post AG Registered
Deutsche Telekom
AG Registered
Deutsche Wohnen AG Bearer
E.ON SE
Evonik Industries AG
Fraport AG Frankfurt Airport
Services Worldwidec
Fresenius Medical Care AG &Co. KGaA
Fresenius SE & Co. KGaAGEA Group AGc
Hannover Rueck SE
HeidelbergCement AG
Henkel AG & Co. KGaA
HOCHTIEF AG
HUGO BOSS AG
Infineon Technologies AG
Innogy SEd
K+S AG Registeredc
Lanxess AG
Linde AGMAN SE
Merck KGaA
Metro Wholesale & FoodSpecialist AGb
Muenchener
RueckversicherungsGesellschaft AG in
Muenchen Registered
Osram Licht AG
ProSiebenSat.1 MediaSE Registered
QIAGEN NVc
RTL Group SAb
RWE AGb
SAP SE
Siemens AG Registered
Symrise AG－ 31 －

Shares622,132 $5,308,392

Value
48,131,876
371,072,232

11,445,602
1,074,171

203,630,065
111,966,689

1,288,384
5,506,759

27,607,925
212,953,084

18,121,244
1,973,236
12,226,443
900,052

329,981,765
77,901,058
120,552,507
30,561,461

228,449

22,791,678

1,189,526
2,297,499
1,014,984
337,670
824,852
579,683
111,900
360,077
6,251,899
785,560
1,052,691
510,086
1,032,707
210,938
716,702111,901,633
193,486,203
41,099,519
42,478,671
81,515,033
72,718,718
19,921,455
27,055,360
135,515,699
32,865,345
27,298,507
39,222,766
197,001,557
23,282,922
78,457,514

971,972

19,555,732

893,346489,598

191,165,865
40,700,933

1,289,468
1,206,413
219,5192,880,129
5,478,292
4,247,465
688,327

51,461,597
40,003,921
17,029,897
60,493,928
579,235,001
574,640,887
48,067,392

２．iシェアーズ MSCI EAFE ETF

July 31, 2017
Security
Telefonica Deutschland
Holding AG
thyssenkrupp AGc
United Internet AG Registerede
Volkswagen AG
Vonovia SE
Zalando SEb,c,d

Shares4,019,123 $2,053,454
696,057
184,249
2,589,073
649,717Value
20,693,241
60,731,374
42,255,351
28,880,686
104,564,024
28,966,922
6,937,949,469

HONG KONG — 3.49%
AIA Group Ltd.
ASM Pacific Technology Ltd.c
Bank of East Asia Ltd. (The)c
BOC Hong Kong Holdings Ltd.
Cheung Kong Property
Holdings Ltd.
CK Hutchison Holdings Ltd.
CK Infrastructure Holdings Ltd.
CLP Holdings Ltd.
First Pacific Co. Ltd./
Hong Kong
Galaxy Entertainment
Group Ltd.
Hang Lung Group Ltd.
Hang Lung Properties Ltd.
Hang Seng Bank Ltd.
Henderson Land Development
Co. Ltd.
HK Electric Investments & HK
Electric Investments Ltd.d
HKT Trust & HKT Ltd.
Hong Kong & China Gas
Co. Ltd.
Hong Kong Exchanges &Clearing Ltd.
Hongkong Land Holdings Ltd.
Hysan Development Co. Ltd.
Jardine Matheson
Holdings Ltd.
Jardine Strategic
Holdings Ltd.c
Kerry Properties Ltd.
Li & Fung Ltd.c
Link REIT
Melco Resorts & EntertainmentLtd. ADRMGM China Holdings Ltd.

67,342,000
1,468,500
6,639,840
20,453,500

530,706,849
19,028,085
28,437,693
100,694,234

14,730,184
14,732,184
3,614,792
9,415,000

119,291,453
194,098,927
33,717,355
100,356,427

11,930,250

8,936,059

13,225,000
5,537,000
12,215,000
4,073,500

81,871,507
21,055,793
30,435,254
88,666,031

6,840,095

39,585,961

14,511,000
20,397,440

13,767,535
26,743,377

45,845,938

86,759,277

6,385,200
6,899,300
3,438,797

182,150,479
51,882,736
16,643,282

1,184,000

75,551,040

1,389,300
3,341,500
32,110,400
12,271,258

56,683,440
11,722,835
11,758,512
99,770,796

1,379,477
5,056,800

27,865,435
9,958,014

Security
MTR Corp. Ltd.
New World Development
Co. Ltd.
NWS Holdings Ltd.
PCCW Ltd.
Power Assets Holdings Ltd.
Sands China Ltd.c
Shangri-La Asia Ltd.
Sino Land Co. Ltd.
SJM Holdings Ltd.
Sun Hung Kai Properties Ltd.
Swire Pacific Ltd. Class A
Swire Properties Ltd.c
Techtronic Industries Co. Ltd.
WH Group Ltd.d
Wharf Holdings Ltd. (The)
Wheelock & Co. Ltd.
Wynn Macau Ltd.
Yue Yuen Industrial
Holdings Ltd.

Shares8,186,000 $
32,892,132
7,932,000
23,217,000
7,511,000
13,974,400
7,248,666
15,712,000
12,306,000
7,856,000
2,901,000
6,669,055
7,314,033
45,471,000
6,681,912
4,060,000
8,897,600
3,868,500

Value
47,322,766
44,473,014
15,193,398
13,079,749
74,435,369
64,860,726
11,786,977
25,951,461
12,321,520
121,710,338
28,935,155
23,055,189
32,542,608
42,675,548
56,850,771
30,618,362
19,298,649
15,973,973
2,749,223,959

IRELAND — 0.44%
Bank of Ireland Group PLCb
CRH PLC
Irish Bank Resolution
Corp. Ltd.a,b
Kerry Group PLC Class A
Paddy Power Betfair PLC
Ryanair Holdings PLCb
Ryanair Holdings PLC ADRb

5,181,609
4,504,145

43,069,296
157,692,019

3,570,811
886,732
447,089
173,066
123,80842
79,820,684
44,615,284
3,624,858
14,031,160
342,853,343

ISRAEL — 0.65%
Azrieli Group Ltd.
Bank Hapoalim BM
Bank Leumi Le-Israel BM
Bezeq The Israeli
Telecommunication Corp. Ltd.
Check Point Software
Technologies Ltd.b,cElbit Systems Ltd.
Frutarom Industries Ltd.
Israel Chemicals Ltd.
Mizrahi Tefahot Bank Ltd.
Mobileye NVb
Nice Ltd.

－ 32 －

233,439
5,825,696
7,858,522

12,754,259
40,371,898
37,770,530

11,288,746

16,759,185

737,246
128,542
211,227
2,822,191
755,431
1,111,754
336,319

77,985,882
16,255,965
14,964,311
13,485,061
13,655,436
70,374,028
24,997,895

２．iシェアーズ MSCI EAFE ETF

July 31, 2017
Security
Taro PharmaceuticalIndustries Ltd.b,cTeva PharmaceuticalIndustries Ltd. ADR

Shares
83,207 $5,037,147

Value
9,513,056
162,045,019
510,932,525

ITALY — 2.33%
Assicurazioni Generali SpA
Atlantia SpA
CNH Industrial NV
Enel SpAEni SpA
EXOR NV
Ferrari NV
Fiat Chrysler Automobiles NVb
Intesa Sanpaolo SpA
Leonardo SpA
Luxottica Group SpA
Mediobanca SpA
Poste Italiane SpAd
Prysmian SpA
Recordati SpA
Saipem SpAb,cSnam SpA
Telecom Italia SpA/Milanob
Tenaris SA
Terna Rete Elettrica
Nazionale SpA
UniCredit SpAb
UnipolSai Assicurazioni SpA

6,920,959
2,533,997
5,654,930
45,579,982
14,149,041
608,333
683,934
5,909,912
69,474,042
1,948,327
947,599
3,166,947
3,018,986
1,131,114
567,3143,354,014
12,889,769
63,830,152
2,610,714

125,089,959
76,751,032
65,338,225
259,236,094
223,034,698
36,291,583
71,846,550
71,071,455
238,521,734
33,835,969
54,598,530
32,913,732
22,139,383
36,073,449
24,145,974
13,682,170
60,727,393
65,510,162
41,214,866

8,033,384
11,109,270
6,082,243

45,708,805
217,947,988
14,033,584
1,829,713,335

JAPAN — 23.09%
ABC-Mart Inc.
Acom Co. Ltd.b,cAeon Co. Ltd.
AEON Financial Service
Co. Ltd.
Aeon Mall Co. Ltd.
Air Water Inc.
Aisin Seiki Co. Ltd.
Ajinomoto Co. Inc.
Alfresa Holdings Corp.
Alps Electric Co. Ltd.
Amada Holdings Co. Ltd.
ANA Holdings Inc.
Aozora Bank Ltd.

169,300
2,419,570
3,612,000

9,637,513
10,291,849
54,345,898

589,290589,210
773,700
1,034,700
3,123,300
987,700
1,130,300
1,835,800
5,892,000
5,892,000

12,804,971
11,203,495
15,005,558
53,844,292
62,723,225
18,163,776
30,790,561
20,950,666
20,183,013
22,609,240

Security
Asahi Glass Co. Ltd.
Asahi Group Holdings Ltd.
Asahi Kasei Corp.
Asics Corp.
Astellas Pharma Inc.
Bandai Namco Holdings Inc.
Bank of Kyoto Ltd. (The)Benesse Holdings Inc.
Bridgestone Corp.
Brother Industries Ltd.
Calbee Inc.
Canon Inc.
Casio Computer Co. Ltd.
Central Japan Railway Co.
Chiba Bank Ltd. (The)
Chubu Electric Power Co. Inc.
Chugai Pharmaceutical
Co. Ltd.
Chugoku Bank Ltd. (The)
Chugoku Electric Power Co.
Inc. (The)
Coca-Cola Bottlers Japan Inc.
Concordia Financial Group Ltd.
Credit Saison Co. Ltd.
CYBERDYNE Inc.b,cDai Nippon Printing Co. Ltd.
Dai-ichi Life Holdings Inc.
Daicel Corp.
Daiichi Sankyo Co. Ltd.
Daikin Industries Ltd.
Daito Trust Construction
Co. Ltd.
Daiwa House Industry Co. Ltd.
Daiwa House REIT
Investment Corp.
Daiwa Securities Group Inc.
DeNA Co. Ltd.
Denso Corp.
Dentsu Inc.
Disco Corp.
Don Quijote Holdings Co. Ltd.
East Japan Railway Co.
Eisai Co. Ltd.
Electric Power Development
Co. Ltd.

－ 33 －

SharesValue

1,107,400 $2,128,200
6,683,000
888,600
12,383,750
1,130,300
1,695,000
392,800
3,557,100
1,311,800
400,700
5,995,500
1,283,300
785,600
3,615,000
3,596,600

46,603,104
86,653,440
76,479,963
16,140,280
157,801,891
39,229,834
16,229,784
15,019,503
149,920,039
33,479,126
16,590,819
208,197,054
20,998,293
126,199,376
25,911,399
47,164,789

1,230,700
931,000

49,397,299
13,481,153

1,590,300
670,000
6,722,800
773,700
773,700
3,217,000
6,191,752
1,618,500
3,304,695
1,374,800

17,400,540
20,191,864
33,877,144
14,872,517
10,510,192
35,432,273
107,085,733
21,078,071
72,018,694
145,573,646

386,700
3,142,500

65,234,517
109,466,333

7,856
8,965,000
580,200
2,644,600
1,178,400
190,900
610,500
1,816,000
1,374,800

19,424,039
51,609,905
12,733,472
126,994,412
55,030,038
33,810,697
22,183,425
170,103,625
73,645,334

785,600

19,857,738

２．iシェアーズ MSCI EAFE ETF

July 31, 2017
Security
FamilyMart UNY Holdings
Co. Ltd.
FANUC Corp.
Fast Retailing Co. Ltd.
Fuji Electric Co. Ltd.
FUJIFILM Holdings Corp.
Fujitsu Ltd.
Fukuoka Financial Group Inc.
Hachijuni Bank Ltd. (The)
Hakuhodo DY Holdings Inc.
Hamamatsu Photonics KK
Hankyu Hanshin Holdings Inc.
Hikari Tsushin Inc.
Hino Motors Ltd.
Hirose Electric Co. Ltd.
Hiroshima Bank Ltd. (The)
Hisamitsu Pharmaceutical
Co. Inc.
Hitachi Chemical Co. Ltd.
Hitachi Construction Machinery
Co. Ltd.
Hitachi High-Technologies Corp.
Hitachi Ltd.
Hitachi Metals Ltd.
Honda Motor Co. Ltd.
Hoshizaki Corp.
Hoya Corp.
Hulic Co. Ltd.
Idemitsu Kosan Co. Ltd.c
IHI Corp.b
Iida Group Holdings Co. Ltd.
INPEX Corp.
Isetan Mitsukoshi Holdings Ltd.
Isuzu Motors Ltd.
ITOCHU Corp.
J Front Retailing Co. Ltd.
Japan Airlines Co. Ltd.
Japan Airport Terminal
Co. Ltd.c
Japan Exchange Group Inc.
Japan Post Bank Co. Ltd.
Japan Post Holdings Co. Ltd.
Japan Prime Realty
Investment Corp.
Japan Real Estate
Investment Corp.

SharesValue

436,500 $1,054,100
285,200
2,995,000
2,321,700
10,167,000
4,406,000
2,128,200
1,311,820
785,600
1,301,600
123,100
1,442,900
169,570
2,032,000

24,413,503
215,265,546
85,486,438
16,480,022
85,160,868
75,791,284
20,296,430
13,501,681
18,390,055
24,955,482
46,353,192
13,424,635
16,989,121
23,080,979
8,680,067

361,700
553,700

16,956,478
15,759,867

589,200
361,700
26,446,000
1,257,500
9,672,300
246,200
2,263,800
1,692,600
550,200
7,856,000
842,480
5,365,243
1,835,800
3,215,800
8,436,300
1,311,800
667,300

16,876,945
13,322,947
181,803,535
17,503,371
272,062,160
23,796,697
127,557,073
17,845,866
13,329,883
25,879,759
14,372,368
52,101,052
17,877,015
44,121,026
132,123,781
18,745,936
21,547,820

203,700
2,938,200
2,184,600
2,454,200

7,540,006
52,677,263
28,035,321
30,895,445

3,992

14,975,193

7,406

38,807,856

Security
Japan Retail Fund
Investment Corp.
Japan Tobacco Inc.
JFE Holdings Inc.
JGC Corp.
JSR Corp.
JTEKT Corp.
JXTG Holdings Inc.
Kajima Corp.
Kakaku.com Inc.
Kamigumi Co. Ltd.
Kaneka Corp.
Kansai Electric Power Co.
Inc. (The)
Kansai Paint Co. Ltd.
Kao Corp.
Kawasaki Heavy Industries Ltd.
KDDI Corp.
Keihan Holdings Co. Ltd.
Keikyu Corp.
Keio Corp.
Keisei Electric Railway Co. Ltd.
Keyence Corp.
Kikkoman Corp.
Kintetsu Group Holdings
Co. Ltd.
Kirin Holdings Co. Ltd.
Kobe Steel Ltd.b
Koito Manufacturing Co. Ltd.
Komatsu Ltd.
Konami Holdings Corp.
Konica Minolta Inc.
Kose Corp.
Kubota Corp.
Kuraray Co. Ltd.
Kurita Water Industries Ltd.
Kyocera Corp.
Kyowa Hakko Kirin Co. Ltd.
Kyushu Electric Power Co. Inc.
Kyushu Financial Group Inc.
Kyushu Railway Co.
Lawson Inc.
LINE Corp.b,cLion Corp.
LIXIL Group Corp.

－ 34 －

SharesValue

13,542 $6,284,800
3,053,975
1,274,000
1,122,700
1,160,700
17,994,950
4,694,000
773,700
1,151,000
1,176,000

25,810,627
218,072,521
58,940,239
20,396,452
19,792,928
16,544,663
79,832,793
40,867,261
10,902,311
12,312,611
9,429,712

4,078,000
1,230,800
2,746,800
7,856,000
10,069,900
2,260,000
2,808,000
2,995,000
815,300
532,646785,600

54,658,745
28,192,722
166,903,617
25,026,580
266,112,566
14,603,738
32,553,944
25,045,296
22,283,416
245,944,151
24,031,205

9,820,000
4,833,200
1,695,800
589,200
5,106,400
530,300
2,649,500
169,300
5,849,200
2,026,400
550,200
1,767,600
1,500,400
2,327,600
1,980,200
785,600
331,700
212,300
1,233,100
1,458,580

37,593,194
106,313,341
21,209,970
34,447,097
137,000,976
27,596,045
21,916,313
18,815,367
101,611,289
39,429,476
15,635,350
107,372,562
27,184,948
27,511,160
12,419,373
25,844,210
22,544,613
7,867,944
26,337,083
37,475,982

２．iシェアーズ MSCI EAFE ETF

July 31, 2017
Security
M3 Inc.
Mabuchi Motor Co. Ltd.
Makita Corp.
Marubeni Corp.
Marui Group Co. Ltd.
Maruichi Steel Tube Ltd.
Mazda Motor Corp.
McDonald’s Holdings Co.
Japan Ltd.c
Mebuki Financial Group Inc.
Medipal Holdings Corp.
MEIJI Holdings Co. Ltd.
MINEBEA MITSUMI Inc.
Miraca Holdings Inc.
MISUMI Group Inc.
Mitsubishi Chemical
Holdings Corp.
Mitsubishi Corp.
Mitsubishi Electric Corp.
Mitsubishi Estate Co. Ltd.
Mitsubishi Gas Chemical
Co. Inc.
Mitsubishi Heavy Industries Ltd.
Mitsubishi Materials Corp.
Mitsubishi Motors Corp.
Mitsubishi Tanabe
Pharma Corp.
Mitsubishi UFJ Financial
Group Inc.
Mitsubishi UFJ Lease &Finance Co. Ltd.
Mitsui & Co. Ltd.
Mitsui Chemicals Inc.
Mitsui Fudosan Co. Ltd.
Mitsui OSK Lines Ltd.
Mixi Inc.
Mizuho Financial Group Inc.
MS&AD Insurance Group
Holdings Inc.
Murata Manufacturing Co. Ltd.
Nabtesco Corp.
Nagoya Railroad Co. Ltd.
NEC Corp.
Nexon Co. Ltd.b
NGK Insulators Ltd.

SharesValue

1,274,400 $
284,800
1,312,800
9,287,700
1,248,700
203,100
3,289,200

34,312,322
15,001,005
51,266,863
61,469,705
16,974,048
6,258,704
49,548,608

361,700
5,997,190
1,160,700
642,104
2,321,700
299,500
1,514,700

14,681,429
23,067,159
21,229,691
51,080,087
38,304,531
13,661,071
37,505,943

7,986,100
8,513,700
10,835,700
7,032,600

67,144,096
184,651,632
167,740,304
127,674,516

967,200
17,676,000
641,900
4,272,400

22,382,283
70,275,278
21,552,550
30,855,470

1,221,500

29,063,066

67,529,780

427,809,819

2,407,000
9,613,400
4,707,000
5,028,000
5,892,000
223,300
133,944,860

12,808,869
139,639,866
26,837,504
115,330,703
18,343,346
12,266,899
238,081,094

2,708,788
1,035,600
593,900
5,502,000
13,748,000
1,090,300
1,547,700

94,922,188
161,017,313
19,269,030
25,195,819
37,326,576
22,645,717
31,123,484

Security
NGK Spark Plug Co. Ltd.
NH Foods Ltd.
Nidec Corp.
Nikon Corp.
Nintendo Co. Ltd.
Nippon Building Fund Inc.
Nippon Electric Glass Co. Ltd.
Nippon Express Co. Ltd.
Nippon Paint Holdings Co. Ltd.
Nippon Prologis REIT Inc.
Nippon Steel & Sumitomo
Metal Corp.
Nippon Telegraph &Telephone Corp.
Nippon Yusen KKb
Nissan Chemical Industries Ltd.
Nissan Motor Co. Ltd.
Nisshin Seifun Group Inc.
Nissin Foods Holdings Co. Ltd.
Nitori Holdings Co. Ltd.
Nitto Denko Corp.
NOK Corp.
Nomura Holdings Inc.
Nomura Real Estate
Holdings Inc.
Nomura Real Estate MasterFund Inc.
Nomura Research Institute Ltd.
NSK Ltd.
NTT Data Corp.
NTT DOCOMO Inc.
Obayashi Corp.
Obic Co. Ltd.
Odakyu Electric Railway
Co. Ltd.
Oji Holdings Corp.
Olympus Corp.
Omron Corp.
Ono Pharmaceutical Co. Ltd.
Oracle Corp. Japan
Oriental Land Co. Ltd./Japan
ORIX Corp.
Osaka Gas Co. Ltd.
Otsuka Corp.
Otsuka Holdings Co. Ltd.

－ 35 －

SharesValue

967,200 $896,000
1,288,400
1,883,000
618,400
7,737
400,900
4,697,000
858,900
7,944

19,572,462
26,475,768
141,788,714
33,145,708
209,761,817
41,662,654
14,186,334
29,968,641
33,074,976
16,715,507

4,197,435

103,022,252

3,787,000
8,527,000
745,900
13,010,000
1,202,597
361,700
427,300
887,300
519,800
20,703,900

184,731,707
16,283,063
24,808,204
129,046,201
19,721,307
22,685,017
60,172,750
79,161,984
11,901,842
123,067,302

666,200

13,191,960

21,122670,057
2,324,700
3,341,955
7,786,417
3,572,200
361,700

29,877,991
25,044,893
30,043,636
36,385,102
180,610,768
42,932,998
22,554,079

1,741,200
4,694,000
1,571,200
1,069,000
2,423,700
196,400
1,178,400
7,599,600
10,371,000
251,400
2,160,400

34,431,621
24,044,563
57,020,788
53,307,299
52,994,789
13,170,949
85,253,899
120,464,269
41,438,947
16,449,812
95,022,797

２．iシェアーズ MSCI EAFE ETF

July 31, 2017
Security
Panasonic Corp.
Park24 Co. Ltd.
Pola Orbis Holdings Inc.
Rakuten Inc.
Recruit Holdings Co. Ltd.
Resona Holdings Inc.
Ricoh Co. Ltd.
Rinnai Corp.
Rohm Co. Ltd.
Ryohin Keikaku Co. Ltd.
Sankyo Co. Ltd.
Santen Pharmaceutical
Co. Ltd.
SBI Holdings Inc./Japan
Secom Co. Ltd.
Sega Sammy Holdings Inc.
Seibu Holdings Inc.
Seiko Epson Corp.
Sekisui Chemical Co. Ltd.
Sekisui House Ltd.
Seven & I Holdings Co. Ltd.
Seven Bank Ltd.
Sharp Corp./Japanb,cShimadzu Corp.
Shimamura Co. Ltd.
Shimano Inc.
Shimizu Corp.
Shin-Etsu Chemical Co. Ltd.
Shinsei Bank Ltd.
Shionogi & Co. Ltd.
Shiseido Co. Ltd.
Shizuoka Bank Ltd. (The)Showa Shell Sekiyu KK
SMC Corp./Japan
SoftBank Group Corp.
Sohgo Security Services
Co. Ltd.
Sompo Holdings Inc.
Sony Corp.
Sony Financial Holdings Inc.
Stanley Electric Co. Ltd.
Start Today Co. Ltd.
Subaru Corp.
Sumitomo Chemical Co. Ltd.
Sumitomo Corp.

SharesValue

12,383,768 $
589,200
472,400
5,417,700
6,159,500
12,964,200
4,082,300
169,500
550,200
127,800
294,900

170,466,638
14,877,307
13,103,815
66,094,028
106,416,449
66,689,455
38,312,549
15,800,262
42,573,963
32,616,498
9,661,415

2,022,300
1,232,880
1,130,300
1,121,438
1,089,100
1,514,700
2,198,900
3,289,200
4,323,380
3,869,700
8,158,000
1,388,600
119,200
419,400
2,995,000
2,128,200
9,672,000
1,623,300
2,014,000
3,158,000
1,124,500
305,200
4,620,700

28,496,503
17,618,150
84,668,927
15,091,889
18,983,724
39,904,898
40,437,710
56,901,270
173,921,210
15,304,393
28,646,581
27,295,708
14,800,887
61,413,566
31,604,778
194,724,666
15,931,074
86,619,094
71,085,569
28,151,772
12,222,494
96,977,890
374,607,273

392,800
1,934,750
6,975,200
931,000
824,600
1,160,700
3,564,000
8,288,000
6,663,100

16,619,214
75,852,636
286,595,846
16,101,552
27,239,151
32,721,666
128,825,884
48,605,131
89,940,845

Security
Sumitomo Dainippon Pharma
Co. Ltd.
Sumitomo ElectricIndustries Ltd.
Sumitomo Heavy
Industries Ltd.
Sumitomo Metal Mining
Co. Ltd.
Sumitomo Mitsui Financial
Group Inc.
Sumitomo Mitsui TrustHoldings Inc.
Sumitomo Realty &Development Co. Ltd.
Sumitomo Rubber
Industries Ltd.
Sundrug Co. Ltd.
Suntory Beverage & Food Ltd.
Suruga Bank Ltd.
Suzuken Co. Ltd./Aichi Japan
Suzuki Motor Corp.
Sysmex Corp.
T&D Holdings Inc.
Taiheiyo Cement Corp.
Taisei Corp.
Taisho Pharmaceutical
Holdings Co. Ltd.
Taiyo Nippon Sanso Corp.
Takashimaya Co. Ltd.
Takeda Pharmaceutical
Co. Ltd.
TDK Corp.
Teijin Ltd.
Terumo Corp.
THK Co. Ltd.
Tobu Railway Co. Ltd.
Toho Co. Ltd./Tokyo
Toho Gas Co. Ltd.
Tohoku Electric Power Co. Inc.
Tokio Marine Holdings Inc.
Tokyo Electric Power Co.
Holdings Inc.b
Tokyo Electron Ltd.
Tokyo Gas Co. Ltd.
Tokyo Tatemono Co. Ltd.

－ 36 －

Shares931,000 $Value
13,043,016

4,271,700

69,104,156

2,969,000

21,657,215

2,606,000

39,351,201

7,415,800

281,544,694

1,810,160

66,413,762

1,964,000

59,420,354

931,000
392,800
740,600
931,000
402,924
1,939,300
828,600
3,130,900
7,406,000
5,537,000

16,143,681
14,610,688
36,260,881
22,429,268
13,437,485
91,791,837
47,393,565
46,243,077
27,815,648
52,917,073

193,200
784,100
1,695,000

14,460,057
9,069,006
15,493,461

3,928,000
664,000
1,126,200
1,781,300
593,200
5,502,000
589,200
1,964,000
2,454,200
3,731,600

207,322,467
47,774,107
22,606,558
67,305,557
18,118,919
29,079,759
21,196,163
13,277,596
33,360,862
156,869,379

8,513,700
865,000
11,214,000
1,174,600

36,059,655
121,927,463
59,381,071
15,966,779

２．iシェアーズ MSCI EAFE ETF

July 31, 2017
Security
Tokyu Corp.
Tokyu Fudosan
Holdings Corp.
Toppan Printing Co. Ltd.
Toray Industries Inc.
Toshiba Corp.b,cTosoh Corp.
TOTO Ltd.
Toyo Seikan Group
Holdings Ltd.
Toyo Suisan Kaisha Ltd.
Toyoda Gosei Co. Ltd.
Toyota Industries Corp.
Toyota Motor Corp.
Toyota Tsusho Corp.
Trend Micro Inc./Japan
Tsuruha Holdings Inc.
Unicharm Corp.
United Urban Investment Corp.
USS Co. Ltd.
West Japan Railway Co.
Yahoo Japan Corp.c
Yakult Honsha Co. Ltd.c
Yamada Denki Co. Ltd.
Yamaguchi Financial Group Inc.
Yamaha Corp.
Yamaha Motor Co. Ltd.
Yamato Holdings Co. Ltd.
Yamazaki Baking Co. Ltd.
Yaskawa Electric Corp.
Yokogawa Electric Corp.
Yokohama Rubber Co.
Ltd. (The)Shares3,054,000 $Value
44,858,518

2,771,400
2,960,000
8,465,500
23,910,000
3,250,000
811,900

16,604,071
31,235,441
76,384,483
53,231,911
38,678,221
32,661,166

852,700
409,500
299,500
890,700
14,410,064
1,213,500
589,200
196,400
2,356,800
17,2271,221,580
892,000
8,707,222
452,300
3,599,850
1,370,000
931,000
1,636,400
2,028,000
967,200
1,374,800
1,311,800

13,960,218
14,861,261
7,074,483
47,801,720
812,999,131
38,987,511
29,434,671
20,582,940
60,351,741
25,631,194
24,620,649
63,920,141
39,400,977
30,782,352
19,189,209
16,105,97832,860,310
41,171,021
40,653,604
19,379,889
36,841,330
22,070,105

715,500

14,427,205
18,168,999,968

NETHERLANDS — 3.71%
ABN AMRO Group NVd
Aegon NV
AerCap Holdings NVb
Akzo Nobel NV
Altice NV Class Ab
Altice NV Class Bb
ArcelorMittalb
ASML Holding NV
Boskalis Westminster
Gemalto NV

2,065,324
9,754,897
869,665
1,404,933
2,173,004
487,332
3,668,160
2,072,395
500,706
453,124

58,221,285
54,503,378
42,700,551
126,583,374
53,429,947
12,008,402
95,988,110
313,115,933
17,842,805
23,004,093

Security
Heineken Holding NV
Heineken NV
ING Groep NV
Koninklijke Ahold Delhaize NV
Koninklijke DSM NV
Koninklijke KPN NV
Koninklijke Philips NV
Koninklijke Vopak NV
NN Group NV
NXP Semiconductors NVb
Randstad Holding NV
RELX NV
Unilever NV CVA
Wolters Kluwer NV

Shares562,516 $1,287,756
21,472,874
7,063,366
1,010,493
18,864,003
5,156,102
401,345
1,692,537
1,925,079
654,717
5,403,687
9,038,088
1,683,440

Value
55,052,788
133,865,432
400,380,938
144,027,790
74,317,775
68,145,415
196,839,551
19,052,834
68,425,767
212,393,966
39,352,060
113,275,493
525,336,414
74,657,377
2,922,521,478

NEW ZEALAND — 0.17%
Auckland International
Airport Ltd.
Contact Energy Ltd.
Fletcher Building Ltd.
Mercury NZ Ltd.
Meridian Energy Ltd.
Ryman Healthcare Ltd.
Spark New Zealand Ltd.

5,185,256
3,984,338
3,884,667
3,789,213
6,916,947
2,089,477
10,152,217

27,058,012
16,011,699
23,271,106
9,886,549
14,935,625
13,817,282
28,543,591
133,523,864

NORWAY — 0.66%
DNB ASA
Gjensidige Forsikring ASA
Marine Harvest ASA
Norsk Hydro ASA
Orkla ASA
Schibsted ASAc
Schibsted ASA Class B
Statoil ASA
Telenor ASA
Yara International ASA

5,393,525
1,128,934
2,120,601
7,455,490
4,585,362
468,642435,706
6,314,711
4,173,122
985,517

105,530,535
19,459,945
39,318,101
47,885,959
47,006,141
11,903,770
10,146,291
117,800,441
83,077,947
39,076,933
521,206,063

PORTUGAL — 0.14%
EDP – Energias dePortugal SA
Galp Energia SGPS SA
Jeronimo Martins SGPS SA－ 37 －

13,219,631
2,306,650
1,541,592

46,757,858
36,822,595
30,216,567
113,797,020

２．iシェアーズ MSCI EAFE ETF

July 31, 2017
Security
SINGAPORE — 1.33%
Ascendas REIT
CapitaLand Commercial Trust
CapitaLand Ltd.
CapitaLand Mall Trust
City Developments Ltd.
ComfortDelGro Corp. Ltd.c
DBS Group Holdings Ltd.
Genting Singapore PLC
Global Logistic Properties Ltd.
Golden Agri-Resources Ltd.
Hutchison Port Holdings Trustc
Jardine Cycle & Carriage Ltd.
Keppel Corp. Ltd.
Oversea-Chinese Banking
Corp. Ltd.
SATS Ltd.
SembCorp Industries Ltd.
Singapore Airlines Ltd.
Singapore Exchange Ltd.
Singapore Press Holdings Ltd.c
Singapore Technologies
Engineering Ltd.
Singapore
Telecommunications Ltd.
StarHub Ltd.c
Suntec REIT
United Overseas Bank Ltd.
UOL Group Ltd.
Wilmar International Ltd.
Yangzijiang Shipbuilding
Holdings Ltd.

SharesValue

13,928,556 $
11,996,700
14,509,000
14,315,500
2,457,300
12,065,300
9,775,700
33,861,600
14,898,900
38,585,394
29,312,200
608,654
8,169,500

27,709,329
15,203,599
39,447,546
21,201,116
20,386,972
20,535,546
155,725,489
29,066,286
36,336,103
11,229,908
13,923,295
18,099,967
38,584,214

17,513,598
3,808,300
5,554,300
3,218,900
4,450,200
6,794,750

146,591,861
13,552,969
13,218,677
24,642,183
24,821,702
14,568,761

8,933,700

24,815,833

45,661,985
3,210,100
13,518,600
7,203,400
2,644,600
9,041,800

133,567,699
6,457,098
18,925,243
127,328,003
15,374,222
22,251,409

12,491,900

13,023,901
1,046,588,931

SPAIN — 3.55%
Abertis Infraestructuras SA
ACS Actividades deConstruccion y Servicios SA
Aena SAd
Amadeus IT Group SA
Banco Bilbao Vizcaya
Argentaria SA
Banco de Sabadell SA
Banco Santander SA
Bankia SA
Bankinter SA

4,015,124

79,007,682

1,376,093
389,3532,484,391

52,606,789
75,857,585
152,488,865

37,184,606
29,747,467
89,073,768
5,641,771
3,860,052

335,424,983
66,391,828
606,374,074
28,482,371
37,491,167

Security
CaixaBank SA
Distribuidora Internacional de
Alimentacion SA
Enagas SA
Endesa SA
Ferrovial SA
Gas Natural SDG SA
Grifols SA
Iberdrola SA
Industria de Diseno Textil SA
International Consolidated
Airlines Group SA
Mapfre SA
Red Electrica Corp. SA
Repsol SA
Siemens Gamesa Renewable
Energy SA
Telefonica SA

SharesValue

20,022,000 $104,243,874

3,478,072
795,018
1,814,723
2,789,115
2,025,904
1,692,435
32,480,446
6,106,790

23,386,001
22,388,048
42,812,585
59,996,278
47,269,246
47,400,296
255,194,314
241,844,943

3,577,592
6,056,462
1,874,949
7,007,563

27,252,388
22,499,943
40,055,455
116,988,799

1,372,832
25,240,723

22,417,191
284,494,388
2,792,369,093

SWEDEN — 2.84%
Alfa Laval AB
Assa Abloy AB Class B
Atlas Copco AB Class A
Atlas Copco AB Class B
Boliden AB
Electrolux AB Class B
Essity AB Class Bb
Getinge AB Class B
Hennes & Mauritz AB Class B
Hexagon AB Class B
Husqvarna AB Class B
ICA Gruppen ABc
Industrivarden AB Class C
Investor AB Class B
Kinnevik AB Class B
L E Lundbergforetagen AB
Class B
Lundin Petroleum ABb
Millicom International Cellular
SA SDR
Nordea Bank AB
Sandvik AB
Securitas AB Class B
Skandinaviska Enskilda
Banken AB Class A－ 38 －

1,711,583
5,581,519
3,721,969
2,177,591
1,522,932
1,329,786
3,379,865
1,099,133
5,239,874
1,445,659
2,263,562
443,754890,624
2,527,421
1,304,809

38,171,302
119,371,593
134,632,389
70,423,326
47,745,478
45,405,442
97,814,502
19,050,253
136,356,368
71,308,490
22,988,066
17,752,245
21,580,075
119,668,223
40,003,787

213,146
1,084,662

16,745,388
24,632,362

358,740
16,809,040
6,238,710
1,736,337

22,440,514
211,748,126
98,180,600
28,870,798

8,370,258

105,856,361

２．iシェアーズ MSCI EAFE ETF

July 31, 2017
Security
Skanska AB Class B
SKF AB Class B
Svenska Handelsbanken AB
Class A
Swedbank AB Class A
Swedish Match AB
Tele2 AB Class B
Telefonaktiebolaget LM
Ericsson Class B
Telia Co. AB
Volvo AB Class B

Shares1,891,343 $
2,141,718

Value
42,928,474
42,521,670

8,496,283
4,995,091
1,047,673
1,970,061

126,251,317
130,171,674
36,782,951
23,404,833

17,077,945
14,402,344
8,625,571

110,734,662
67,568,992
146,300,040
2,237,410,301

SWITZERLAND — 8.28%
ABB Ltd. Registered
Adecco Group AG Registered
Baloise Holding AG Registered
Barry Callebaut AG Registered
Chocoladefabriken Lindt &Spruengli AG
Participation Certificates
Chocoladefabriken Lindt &Spruengli AG Registered
Cie. Financiere Richemont SA
Class A Registered
Credit Suisse GroupAG Registered
Dufry AG Registeredb
EMS-Chemie Holding
AG Registered
Geberit AG Registered
Givaudan SA Registered
Julius Baer Group Ltd.
Kuehne + Nagel International
AG Registered
LafargeHolcim Ltd. Registered
Lonza Group AG Registered
Nestle SA Registered
Novartis AG Registered
Pargesa Holding SA Bearer
Partners Group Holding AG
Roche Holding AG
Schindler Holding AG
Participation Certificates
Schindler Holding
AG Registered

11,079,015
903,016
279,613
12,682

260,655,688
69,070,406
45,034,835
18,125,593

5,802

33,103,602

495

33,814,012

2,898,961

246,825,565

12,934,402
192,648

199,475,464
30,768,572

46,644
208,688
53,1181,233,609

32,535,018
100,618,394
105,977,250
69,936,687

308,255
2,518,892
412,554
17,289,000
12,386,407
197,933
100,810
3,897,828

53,801,256
151,026,483
98,344,219
1,463,969,840
1,057,822,394
15,837,102
65,615,049
989,353,866

249,60953,965,318

94,54019,929,975

Security

SharesSGS SA Registered
Sika AG Bearer
Sonova Holding
AG Registered
Straumann Holding
AG RegisteredSwatch Group AG(The) Bearer
Swatch Group AG(The) Registered
Swiss Life Holding
AG Registered
Swiss Prime Site
AG Registered
Swiss Re AG
Swisscom AG RegisteredUBS Group AG
Vifor Pharma AGc
Zurich Insurance Group AG

30,254 $11,887

Value
67,039,490
82,113,132

294,861

47,949,102

51,90329,398,341

176,81170,350,565

282,006

21,774,832

179,341

65,613,694

382,761
1,795,614
148,033
20,264,674
267,289
836,955

34,612,528
173,540,971
72,524,433
353,269,230
28,616,835
255,722,997
6,518,132,738

UNITED KINGDOM — 17.77%
3i Group PLC
5,389,661
Aberdeen AssetManagement PLC
5,088,487
Admiral Group PLC
1,181,363b
Anglo American PLC
7,395,590
Antofagasta PLC
2,175,258
Ashtead Group PLC
2,760,517
Associated British Foods PLC
1,977,052
AstraZeneca PLC
7,029,316
Auto Trader Group PLCd
5,415,291
Aviva PLC
22,439,859
Babcock International
Group PLC
1,399,915
BAE Systems PLC
17,655,094
Barclays PLC
93,991,600
Barratt Developments PLC
5,570,307
Berkeley Group Holdings PLC
729,492
BHP Billiton PLC
11,719,609
BP PLC
108,743,971
British American Tobacco PLC
12,742,713
British Land Co. PLC (The)5,395,811
BT Group PLC
47,033,251
Bunzl PLC
1,875,961
Burberry Group PLC
2,477,054－ 39 －

66,507,094
22,097,490
32,208,060
122,118,436
27,128,925
59,284,640
77,255,065
423,413,693
27,321,902
159,455,522
15,585,904
140,002,677
251,545,037
45,199,940
33,621,929
212,908,507
639,110,460
791,837,539
43,428,324
194,389,686
56,586,196
55,874,823

２．iシェアーズ MSCI EAFE ETF

July 31, 2017
Security
Capita PLC
Carnival PLC
Centrica PLC
Cobham PLC
Coca-Cola European
Partners PLC
Coca-Cola HBC AG
Compass Group PLC
ConvaTec Group PLCb,dCroda International PLC
DCC PLC
Diageo PLC
Direct Line InsuranceGroup PLC
Dixons Carphone PLC
easyJet PLC
Experian PLC
Fresnillo PLC
G4S PLCGKN PLC
GlaxoSmithKline PLC
Glencore PLC
Hammerson PLC
Hargreaves Lansdown PLC
Hikma Pharmaceuticals PLC
HSBC Holdings PLC
IMI PLC
Imperial Brands PLC
Inmarsat PLC
InterContinental Hotels
Group PLC
Intertek Group PLC
Intu Properties PLCc
Investec PLC
ITV PLCJ Sainsbury PLC
Johnson Matthey PLC
Kingfisher PLC
Land Securities Group PLC
Legal & General Group PLC
Lloyds Banking Group PLC
London Stock ExchangeGroup PLC
Marks & Spencer Group PLC
Mediclinic International PLC

Shares3,681,861 $
1,053,071
30,598,271
13,130,228

Value
31,963,464
71,081,779
80,073,363
22,970,681

1,205,533
1,014,061
8,774,165
6,373,252
732,950494,683
13,986,439

52,212,341
30,641,454
187,045,167
26,105,560
35,762,190
43,466,814
451,479,398

7,579,498
5,374,610
879,649
5,258,256
1,235,726
8,566,656
9,431,183
27,272,020
67,886,076
4,353,146
1,509,802
788,622
110,400,453
1,503,766
5,325,229
2,475,118

37,431,643
19,060,308
14,333,708
104,468,570
25,023,271
37,134,178
39,974,020
544,524,290
299,056,224
32,970,379
27,468,172
14,680,277
1,101,786,403
23,849,351
219,040,063
25,305,119

988,547896,651
5,258,522
3,598,651
20,033,520
8,913,278
1,080,521
12,369,938
4,359,606
32,909,270
396,983,118

55,922,491
50,842,109
17,698,856
27,327,059
45,691,355
28,766,004
40,028,582
48,010,475
58,681,831
116,447,839
343,221,215

1,754,412
8,881,677
2,016,501

86,688,571
37,726,906
19,672,558

Security
Meggitt PLC
Merlin Entertainments PLCd
Mondi PLC
National Grid PLC
Next PLC
Old Mutual PLC
Pearson PLC
Persimmon PLC
Petrofac Ltd.
Provident Financial PLC
Prudential PLC
Randgold Resources Ltd.
Reckitt Benckiser Group PLC
RELX PLC
Rio Tinto PLC
Rolls-Royce Holdings PLC
Royal Bank of Scotland
Group PLCb
Royal Dutch Shell PLC
Class A ADR
Royal Dutch Shell PLC
Class B
Royal Mail PLC
RSA Insurance Group PLC
Sage Group PLC (The)
Schroders PLC
Segro PLC
Severn Trent PLC
Shire PLC
Sky PLC
Smith & Nephew PLC
Smiths Group PLC
SSE PLC
St. James’s Place PLC
Standard Chartered PLCb
Standard Life PLC
Tate & Lyle PLC
Taylor Wimpey PLC
Tesco PLCb
Travis Perkins PLC
TUI AG
Unilever PLC
United Utilities Group PLC
Vodafone Group PLC
Weir Group PLC (The)－ 40 －

Shares4,292,657 $
3,870,689
2,026,502
19,194,036
805,854
27,179,634
4,555,131
1,707,328
1,413,846
816,053
14,315,355
521,006
3,705,027
6,046,783
6,870,090
9,197,335

Value
28,465,895
23,948,014
53,299,190
237,052,129
41,964,701
70,410,403
39,484,560
56,361,424
8,331,828
22,183,890
348,766,500
48,492,894
359,940,410
131,693,730
318,812,810
107,672,710

19,590,907

64,207,586

24,594,646

691,611,339

20,856,148
5,027,926
5,625,287
6,047,968
739,4895,444,964
1,324,893
5,015,490
5,779,356
4,894,768
2,200,650
5,671,039
2,882,361
18,206,209
10,908,729
2,569,620
18,038,656
45,203,600
1,374,132
2,432,483
7,140,362
3,812,254
148,020,845
1,190,699

591,707,454
26,719,747
48,390,028
53,740,296
33,585,485
37,829,997
39,125,464
281,744,584
73,525,406
85,179,820
44,533,828
103,099,741
46,245,515
203,226,228
62,760,959
22,765,063
45,279,518
103,813,025
27,499,886
38,193,745
406,804,193
45,107,313
433,218,034
28,789,359

２．iシェアーズ MSCI EAFE ETF

July 31, 2017
Security
Whitbread PLC
Wm Morrison
Supermarkets PLC
Wolseley PLC
Worldpay Group PLCd
WPP PLC

Shares1,015,997 $
12,063,303
1,404,059
11,199,654
7,130,526

Value
51,541,632
38,232,383
83,796,625
54,630,730
145,332,161
13,981,634,119

TOTAL COMMON STOCKS(Cost: $69,594,651,244)

300,492

23,860,774

397,023

23,498,136

990,667

139,867,637

839,785

47,906,328

897,347

12,473,497

1,022,469

156,834,451

6,275,330

19,976,268

32,915,962

26,913,305
46,889,573

TOTAL PREFERRED STOCKS(Cost: $426,342,764)

TOTAL INVESTMENTS
IN SECURITIES — 99.99%(Cost: $70,435,239,191) i
Other Assets, Less Liabilities — 0.01%
NET ASSETS — 100.00%

414,302,068

78,683,870,234
7,684,933$78,691,555,167

a Security is valued using significant unobservable inputs and is classified as

Level 3 in the fair value hierarchy.

b
Non-income earning security.
c All or a portion of this security represents a security on loan. See Note 1.
d This security may be resold to qualified institutional buyers under Rule 144Aeof the Securities Act of 1933.
This security may be resold to qualified foreign investors and foreign
institutional buyers under Regulation S of the Securities Act of 1933.

f Affiliated money market fund.
g
The rate quoted is the annualized seven-day yield of the fund at period end.
h All or a portion of this security represents an investment of securities lendingi

collateral. See Note 1.
The cost of investments for federal income tax purposes was$72,564,436,899. Net unrealized appreciation was $6,119,433,335, of which$14,233,878,077 represented gross unrealized appreciation on securities
and $8,114,444,742 represented gross unrealized depreciation on securities.

669,417669,417

TOTAL RIGHTS(Cost: $0)

14,858,964

ADR — American Depositary Receipts
SDR — Swedish Depositary Receipts

451,330,396

226,389

399,443,104

414,302,068

RIGHTS — 0.00%
FRANCE — 0.00%
Gecina SA(Expires 08/02/17)b,c

Value

MONEY MARKET FUNDS — 0.53%
BlackRock Cash Funds: Institutional,
SL Agency Shares
1.32%f,g,h
399,323,307 $BlackRock Cash Funds: Treasury,
SL Agency Shares
0.98%f,g
14,858,964
TOTAL SHORT-TERM INVESTMENTS(Cost: $414,245,183)

404,440,823
ITALY — 0.06%
Intesa Sanpaolo SpA,
Preference Shares
Telecom Italia SpA/Milano,
Preference Shares

SharesSHORT-TERM INVESTMENTS — 0.53%

77,817,568,353

PREFERRED STOCKS — 0.57%
GERMANY — 0.51%
Bayerische Motoren Werke
AG, Preference Shares
Fuchs Petrolub SE,
Preference Shares
Henkel AG & Co. KGaA,
Preference Shares
Porsche Automobil Holding
SE, Preference Shares
Schaeffler AG,
Preference Shares
Volkswagen AG,
Preference Shares

Security

669,417－ 41 －

２．iシェアーズ MSCI EAFE ETF

July 31, 2017

Futures contracts outstanding as of July 31, 2017 were as follows:

Description

Number ofcontracts

Expiration
date

Notional
amount(000)

Long Contracts:
ASX SPI 200 Index
Euro Stoxx 50
FTSE 100 Index
TOPIX Index

9,525
35,71010,2608,000,000

Sep 2017
Sep 2017
Sep 2017
Sep 2017$43,048
145,126
98,877
117,254

Total－ 42 －

Value /
unrealized
appreciation(depreciation)$(441,139)(4,020,944)(1,518,779)
1,800,342$(4,180,520)

３．iシェアーズ MSCI エマージング・マーケット ETF■損益計算書Year ended August 31, 2017
iShares
MSCI Emerging
Markets ETF(Consolidated)

NET INVESTMENT INCOME

Dividends — unaffiliateda
Dividends — affiliatedInterest — unaffiliatedMiscellaneous income
Securities lending income — affiliated — netb
Foreign withholding tax claims$772,602,990
392,254
15,881
136
18,238,122
1,122,121
792,371,504(2,624,499)
789,747,005

Less: Other foreign taxes
Total investment income

EXPENSES

Investment advisory fees
Mauritius income taxes
Proxy fees
Commitment fees
Interest expense
Professional fees
Total expenses
Net investment income

207,622,093
854,408
663,245
238,896
65,570116,605
209,560,817
580,186,188

NET REALIZED AND UNREALIZED GAIN (LOSS)

Net realized gain (loss) from:
Investments — unaffiliatedInvestments — affiliatedIn-kind redemptions — unaffiliatedFutures contracts
Foreign currency transactions
Realized gain distributions from affiliated funds
Net realized loss
Net change in unrealized appreciation/depreciation on:
Investments — unaffiliatedc
Investments — affiliatedFutures contracts
Translation of assets and liabilities in foreign currencies
Net change in unrealized appreciation/depreciation
Net realized and unrealized gain
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS

a Net of foreign withholding tax of $96,548,344.
b Net of securities lending income tax paid of $760,133.
c Net of deferred foreign capital gains taxes of $9,808,442.

－ 43 －(818,440,258)
44,253
238,286,576
35,180,144(996,900)
5,679(545,920,506)
6,416,650,625
388,530(2,104,720)
484,662
6,415,419,097
5,869,498,591$6,449,684,779

３．iシェアーズ MSCI エマージング・マーケット ETF■組入銘柄

August 31, 2017
Security

SharesValue

COMMON STOCKS — 95.85%
BRAZIL — 4.56%
Ambev SA
B3 SA-Brasil Bolsa Balcao
Banco Bradesco SA
Banco do Brasil SA
Banco Santander Brasil
SA Units
BB Seguridade
Participacoes SA
BR Malls Participacoes SA
BRF SAa
CCR SA
Centrais Eletricas
Brasileiras SAa
Cia. de Saneamento Basicodo Estado de Sao PauloCia. Siderurgica
Nacional SAa
Cielo SA
Cosan SA
Industria e Comercio
CPFL Energia SA
Duratex SA
EDP-Energias do Brasil SA
Embraer SA
Engie Brasil Energia SA
Equatorial Energia SA
Fibria Celulose SA
Hypermarcas SA
JBS SA
Klabin SA Units
Kroton Educacional SA
Localiza Rent A Car SA
Lojas Americanas SA
Lojas Renner SA
M. Dias Branco SA
Multiplan Empreendimentos
Imobiliarios SA
Natura Cosmeticos SA
Odontoprev SA
Petroleo Brasileiro SAa
Porto Seguro SA
Qualicorp SA

33,448,615 $
14,711,401
6,508,438
6,094,874

211,123,486
103,423,283
66,709,188
59,467,855

2,971,300

26,479,128

4,954,700
5,838,488
3,193,485
8,601,100

43,650,554
25,235,881
43,155,614
47,728,458

1,381,200

7,734,667

2,437,024

24,901,181

4,426,128
8,656,876

12,224,269
61,712,002

1,123,400
1,760,467
2,218,055
2,146,600
4,741,500
1,140,900
1,410,800
1,767,061
2,461,100
5,792,065
4,153,000
9,794,680
1,185,663
1,325,450
5,034,390
734,200

13,778,069
15,157,098
6,062,475
10,397,173
27,019,369
13,089,828
27,404,884
23,469,459
23,082,223
15,959,956
22,596,692
55,939,360
22,439,975
6,082,886
48,960,681
11,457,109

600,0031,219,600
1,907,600
21,082,274
808,400
1,594,700

13,937,682
11,434,537
8,984,930
93,603,702
8,928,125
17,662,857

Security
Raia Drogasil SA
Rumo SAa
Sul America SA
TIM Participacoes SA
Transmissora Alianca deEnergia Eletrica SA Units
Ultrapar Participacoes SA
Vale SAWEG SA

SharesValue

1,645,400 $
5,707,000
1,411,736
5,965,376

36,265,788
18,736,452
8,067,191
21,385,829

1,347,200
2,565,000
20,148,716
4,024,720

9,633,714
59,876,766
224,639,506
26,171,009
1,635,770,891

CHILE — 1.11%
AES Gener SA
Aguas Andinas SA Series A
Banco de Chile
Banco deCredito e Inversiones
Banco Santander Chile
Cencosud SA
Cia. Cervecerias Unidas SA
Colbun SA
Empresa Nacional de
Telecomunicaciones SA
Empresas CMPC SA
Empresas COPEC SA
Enel Americas SA
Enel Chile SA
Enel Generacion Chile SA
Itau CorpBanca
LATAM Airlines Group SA
SACI Falabella

19,202,170
19,054,241
179,961,937

6,719,110
12,169,803
26,213,665

267,078472,589,283
10,126,782
1,027,144
56,316,834

17,319,866
34,554,576
30,442,869
14,002,037
13,566,618

1,038,800
8,917,209
3,251,802
206,853,549
140,726,889
23,294,944
1,114,596,765
2,171,351
5,034,012

10,853,810
23,274,931
41,510,616
44,623,410
16,568,618
19,746,806
10,650,426
27,225,502
50,611,670
400,054,333

CHINA — 28.95%
3SBio Inc.a,b,c58.com Inc. ADRa,c
AAC Technologies
Holdings Inc.c
Agricultural Bank of China
Ltd. Class H
Air China Ltd. Class H
Alibaba Group Holding
Ltd. ADRa,c
Alibaba Health Information
Technology Ltd.a,cAlibaba Pictures
Group Ltd.a,c－ 44 －

7,219,000
645,005

9,924,863
40,396,663

5,223,000

95,231,184

185,199,000
12,828,000

87,080,646
11,407,839

8,080,564

1,387,756,061

22,842,000

10,652,761

85,020,000

14,882,533

３．iシェアーズ MSCI エマージング・マーケット ETF

August 31, 2017
Security
Aluminum Corp. of China
Ltd. Class Ha,cAnhui Conch Cement Co.
Ltd. Class H
ANTA Sports Products Ltd.c
Autohome Inc. ADRa,c
AviChina Industry &Technology Co. Ltd.
Class Hc
Baidu Inc. ADRa
Bank of China Ltd. Class H
Bank of Communications
Co. Ltd. Class H
Beijing Capital International
Airport Co. Ltd. Class H
Beijing Enterprises
Holdings Ltd.
Beijing Enterprises Water
Group Ltd.
Brilliance China Automotive
Holdings Ltd.
Byd Co. Ltd. Class Hc
CGN Power Co. Ltd.
Class Hb
China Cinda AssetManagement Co. Ltd.
Class H
China CITIC Bank Corp.
Ltd. Class H
China Coal Energy Co. Ltd.
Class H
China Communications
Construction Co. Ltd.
Class H
China Communications
Services Corp. Ltd.
Class H
China Conch Venture
Holdings Ltd.c
China Construction Bank
Corp. Class H
China Everbright Bank Co.
Ltd. Class H
China EverbrightInternational Ltd.

SharesValue

28,038,000 $

20,742,485

8,779,000
7,586,402
372,565

32,753,905
29,855,322
23,944,753

14,907,000
1,944,999
563,546,000

8,818,738
443,557,022
296,661,899

62,149,600

47,486,997

10,868,000

17,579,986

3,584,500

20,014,521

33,794,000

28,714,181

21,500,000
4,554,000

55,628,669
27,115,282

75,199,000

20,753,961

62,652,000

23,295,021

63,585,800

42,003,538

14,829,000

7,465,231

31,447,000

41,867,991

17,374,000

9,412,410

11,042,500

20,091,510

596,883,760

523,177,506

21,710,000

10,429,965

17,456,000

23,062,185

Security
China Everbright Ltd.
China Evergrande Groupa,cChina Galaxy Securities
Co. Ltd. Class H
China Gas Holdings Ltd.
China Huarong AssetManagement Co. Ltd.
Class Hb
China Huishan Dairy
Holdings Co. Ltd.a,c,dChina Jinmao HoldingsGroup Ltd.
China Life Insurance Co.
Ltd. Class H
China Longyuan PowerGroup Corp. Ltd. Class H
China Medical System
Holdings Ltd.c
China Mengniu Dairy
Co. Ltd.
China Merchants Bank Co.
Ltd. Class H
China Merchants Port
Holdings Co. Ltd.
China Minsheng Banking
Corp. Ltd. Class H
China Mobile Ltd.
China National Building
Material Co. Ltd. Class H
China Oilfield Services Ltd.
Class Hc
China Overseas Land &Investment Ltd.
China Pacific InsuranceGroup Co. Ltd. Class H
China Petroleum &Chemical Corp. Class H
China Power International
Development Ltd.
China Railway Construction
Corp. Ltd. Class H
China Railway Group Ltd.
Class H
China Resources Beer
Holdings Co. Ltd.

－ 45 －

SharesValue

6,510,000 $
23,651,388

14,872,490
71,469,865

23,263,000
12,304,000

21,074,008
31,064,792

43,454,000

18,544,341

27,094,000

35

26,560,000

11,809,799

52,768,000

169,230,852

22,511,000

16,854,955

8,924,000

16,419,398

19,453,000

45,435,777

27,663,467

104,271,065

9,214,000

30,138,620

40,434,040
43,529,500

40,349,054
461,633,116

20,394,000

12,820,433

12,816,000

10,512,904

27,164,960

94,929,586

18,675,400

87,931,117

180,898,800

138,451,509

23,397,000

7,981,906

14,045,500

18,412,796

28,518,000

22,810,173

11,514,000

28,893,682

３．iシェアーズ MSCI エマージング・マーケット ETF

August 31, 2017
Security
China Resources Gas
Group Ltd.c
China Resources Land Ltd.
China Resources Power
Holdings Co. Ltd.
China Shenhua Energy Co.
Ltd. Class H
China Southern Airlines Co.
Ltd. Class H
China State Construction
International
Holdings Ltd.
China Taiping Insurance
Holdings Co. Ltd.
China Telecom Corp. Ltd.
Class H
China UnicomHong Kong Ltd.a
China Vanke Co. Ltd.
Class H
Chongqing Changan
Automobile Co. Ltd.
Class B
Chongqing Rural
Commercial Bank Co.
Ltd. Class H
CITIC Ltd.
CITIC Securities Co. Ltd.
Class H
CNOOC Ltd.
COSCO SHIPPINGPorts Ltd.
Country Garden Holdings
Co. Ltd.c
CRRC Corp. Ltd. Class H
CSPC Pharmaceutical
Group Ltd.
Ctrip.com International
Ltd. ADRa,cDongfeng Motor Group Co.
Ltd. Class H
ENN Energy Holdings Ltd.
Far East Horizon Ltd.c
Fosun International Ltd.c
Fullshare Holdings Ltd.c

SharesValue

6,244,000 $
19,595,333

22,019,485
61,216,246

13,556,999

24,874,433

24,099,000

62,045,353

12,946,000

10,106,761

12,728,000

18,442,017

11,480,060

34,837,177

98,038,000

50,356,517

42,322,000

61,646,187

8,555,931

25,635,707

6,113,975

7,999,426

18,277,000
40,644,000

12,727,309
62,421,772

16,028,500
126,689,000

35,553,126
151,513,016

11,698,000

13,825,745

38,488,939
29,433,300

51,145,151
26,550,875

29,932,000

46,734,987

2,781,221

143,093,820

19,258,000
5,380,000
14,157,000
18,307,000
47,450,000

25,000,004
34,611,222
12,933,393
31,765,240
18,915,856

Security
Fuyao Glass Industry
Group Co. Ltd. Class Hb
GCL-Poly Energy
Holdings Ltd.a,cGeely Automobile
Holdings Ltd.
GF Securities Co. Ltd.
Class HGOME Electrical
Appliances Holding Ltd.cGreat Wall Motor Co. Ltd.
Class Hc
Guangdong Investment Ltd.
Guangzhou Automobile
Group Co. Ltd. Class H
Guangzhou R&F Properties
Co. Ltd. Class H
Haier Electronics GroupCo. Ltd.
Haitian International
Holdings Ltd.
Haitong Securities Co. Ltd.
Class H
Hengan International GroupCo. Ltd.
Huaneng PowerInternational Inc. Class H
Huaneng Renewables
Corp. Ltd. Class H
Huatai Securities Co. Ltd.
Class Hb
Industrial & Commercial
Bank of China Ltd.
Class H
JD.com Inc. ADRa,cJiangsu Expressway Co.
Ltd. Class H
Jiangxi Copper Co. Ltd.
Class HKingsoft Corp. Ltd.c
Kunlun Energy Co. Ltd.c
Lenovo Group Ltd.c
Longfor Properties Co. Ltd.
Momo Inc. ADRa
NetEase Inc. ADR－ 46 －

Shares3,476,800 $Value
11,083,717

92,506,000

10,401,303

34,792,000

85,530,231

9,716,200

20,732,329

84,243,200

8,826,406

22,050,000
20,232,110

27,666,567
29,883,688

14,980,742

29,553,968

6,924,400

16,173,109

8,937,000

23,751,458

4,605,000

13,827,150

22,672,800

38,007,926

5,115,500

42,746,545

29,982,000

19,613,981

33,098,000

10,149,583

11,454,800

25,495,929

523,393,085
4,666,966

391,886,932
195,592,545

8,688,000

13,320,982

8,809,000
5,574,000
22,818,000
51,286,000
10,438,500
758,231561,424

15,284,864
13,218,438
22,099,476
28,046,443
25,074,434
29,214,640
154,863,196

３．iシェアーズ MSCI エマージング・マーケット ETF

August 31, 2017
Security
New China Life Insurance
Co. Ltd. Class Hc
New Oriental Education &Technology Group
Inc. ADR
Nine Dragons Paper
Holdings Ltd.
People’s Insurance Co.
Group of China Ltd. (The)Class HPetroChina Co. Ltd.
Class H
PICC Property & Casualty
Co. Ltd. Class H
Ping An Insurance GroupCo. of China Ltd. Class H
Semiconductor
Manufacturing
International Corp.a,cShandong Weigao Group
Medical Polymer Co. Ltd.
Class H
Shanghai Electric GroupCo. Ltd. Class Ha,cShanghai Fosun
Pharmaceutical GroupCo. Ltd. Class H
Shanghai Industrial
Holdings Ltd.
Shanghai Lujiazui
Finance & Trade Zone
Development Co. Ltd.
Class B
Shanghai Pharmaceuticals
Holding Co. Ltd. Class H
Shenzhou International
Group Holdings Ltd.c
Shimao Property
Holdings Ltd.
Sihuan Pharmaceutical
Holdings Group Ltd.
SINA Corp./Chinaa
Sino Biopharmaceutical Ltd.
Sino-Ocean Group
Holding Ltd.

SharesValue

5,537,100 $

35,445,024

953,358

77,937,017

11,655,000

19,448,703

49,397,000

23,289,605

149,528,000

95,527,346

32,554,128

61,144,667

36,991,500

293,750,260

19,623,999

18,454,425

13,272,000

10,598,675

20,094,000

9,114,439

3,323,500

12,484,703

3,581,000

10,889,714

7,038,921

11,353,780

5,000,700

12,306,152

4,001,000

32,053,191

8,538,500

17,630,236

26,358,000
404,900
31,585,000

10,137,109
41,230,967
27,725,080

21,644,000

14,933,667

Security
Sinopec Engineering GroupCo. Ltd. Class H
Sinopec Shanghai
Petrochemical Co. Ltd.
Class H
Sinopharm Group Co. Ltd.
Class HSOHO China Ltd.
Sun Art Retail Group Ltd.c
Sunac China Holdings Ltd.c
Sunny Optical Technology
Group Co. Ltd.
TAL Education GroupClass A ADR
Tencent Holdings Ltd.
Tingyi Cayman Islands
Holding Corp.c
TravelSky Technology Ltd.
Class H
Tsingtao Brewery Co. Ltd.
Class H
Vipshop Holdings
Ltd. ADRa
Want Want China
Holdings Ltd.c
Weibo Corp. ADRa,cWeichai Power Co. Ltd.
Class H
Yanzhou Coal Mining Co.
Ltd. Class H
Yum China Holdings Inc.a
YY Inc. ADRa
Zhejiang Expressway Co.
Ltd. Class H
Zhuzhou CRRC Times
Electric Co. Ltd. Class H
Zijin Mining Group Co. Ltd.
Class HZTE Corp. Class Ha
COLOMBIA — 0.28%
Bancolombia SA
Cementos Argos SA
Ecopetrol SA
Grupo Argos SA/Colombia－ 47 －

Shares8,876,500 $Value
8,007,218

24,815,000

15,472,813

8,398,800
15,260,500
17,123,500
14,598,000

37,935,153
8,891,372
15,774,768
43,832,517

5,054,000

72,454,152

1,979,178
40,347,000

60,226,387
1,696,064,371

13,844,000

18,431,662

6,616,000

18,090,245

2,450,000

10,158,182

2,881,619

26,827,873

37,785,000
325,964

25,008,312
32,954,960

13,920,800

14,336,212

13,188,800
2,732,064
299,799

13,245,337
96,605,783
22,400,981

10,092,000

12,623,946

3,888,600

20,346,156

40,632,000
5,261,000

14,899,966
14,351,635
10,390,089,327

1,622,814
3,216,845
34,983,894
2,114,497

18,185,599
13,064,905
16,275,474
15,064,596

３．iシェアーズ MSCI エマージング・マーケット ETF

August 31, 2017
Security
Grupo de Inversiones
Suramericana SA
Interconexion Electrica
SA ESP

Shares1,856,317 $
2,741,006

Value
26,160,448
12,435,446
101,186,468

CZECH REPUBLIC — 0.18%
CEZ AS
Komercni Banka AS
Moneta Money Bank ASb
O2 Czech Republic AS

1,159,269
552,787
3,441,368
438,521

21,952,054
24,319,649
12,046,339
5,489,347
63,807,389

EGYPT — 0.13%
Commercial International
Bank Egypt SAE
Egyptian Financial GroupHermes Holding Co.
Global Telecom
Holding SAEa

7,081,955

33,785,657

2,468,463

2,891,988

20,623,793

8,221,489
44,899,134

GREECE — 0.37%
Alpha Bank AEa
Eurobank Ergasias SAa,cFF Groupa,cHellenic
Telecommunications
Organization SA
JUMBO SANational Bank of
Greece SAa
OPAP SA
Piraeus Bank SAa
Titan Cement Co. SA

9,756,054
13,084,444
238,362

24,705,801
14,109,372
5,922,819

1,717,303
723,640

21,846,197
12,044,693

38,676,218
1,574,616
1,995,611
322,172

15,679,908
17,578,645
11,174,856
9,135,269
132,197,560

HONG KONG — 0.06%
Minth Group Ltd.

4,774,000

21,989,880
21,989,880

HUNGARY — 0.35%
MOL Hungarian Oil &Gas PLCOTP Bank PLC
Richter Gedeon Nyrt

324,630
1,695,383
983,931

30,087,022
68,900,927
25,584,969
124,572,918

INDIA — 8.69%
ACC Ltd.

307,0148,645,931

Security
Adani Ports & Special
Economic Zone Ltd.
Aditya Birla Capital Ltd.a
Ambuja Cements Ltd.
Apollo Hospitals
Enterprise Ltd.a
Ashok Leyland Ltd.
Asian Paints Ltd.
Aurobindo Pharma Ltd.
Axis Bank Ltd. GDRBajaj Auto Ltd.
Bajaj Finance Ltd.
Bajaj Finserv Ltd.
Bharat Forge Ltd.
Bharat Heavy
Electricals Ltd.
Bharat Petroleum Corp. Ltd.
Bharti Airtel Ltd.
Bharti Infratel Ltd.
Bosch Ltd.
Cadila Healthcare Ltd.
Cipla Ltd.
Coal India Ltd.
Container Corp. ofIndia Ltd.
Dabur India Ltd.
Dr. Reddy’sLaboratories Ltd.
Eicher Motors Ltd.
GAIL (India) Ltd.
Glenmark
Pharmaceuticals Ltd.
Godrej Consumer
Products Ltd.
Grasim Industries Ltd.
Havells India Ltd.
HCL Technologies Ltd.
Hero Motocorp Ltd.
Hindalco Industries Ltd.
Hindustan Petroleum
Corp. Ltd.
Hindustan Unilever Ltd.
Housing Development
Finance Corp. Ltd.
ICICI Bank Ltd.

－ 48 －

SharesValue

5,317,093 $3,044,568
4,356,455

32,683,783
8,836,372
19,105,331

564,653
8,180,377
2,044,171
1,890,318
11,856,064
599,628
1,176,477
266,749
744,467

9,562,478
13,705,143
37,366,747
21,445,856
92,797,272
26,400,000
32,793,483
22,962,081
13,134,039

4,138,074
5,341,681
8,411,755
3,933,785
53,5171,470,029
2,509,554
4,887,826

8,343,955
44,203,269
56,279,034
23,088,420
18,406,642
11,497,851
22,451,089
18,151,697

306,004
3,806,082

6,318,135
18,760,626

815,584
94,144
3,551,363

25,783,050
46,317,574
21,016,103

995,667

9,486,882

1,723,947
2,306,929
1,767,746
4,010,234
353,950
8,302,632

25,061,128
43,131,601
13,504,292
54,282,169
22,120,266
30,911,033

4,290,014
4,599,120

32,772,583
87,753,882

10,689,523
16,756,549

297,126,977
78,125,800

３．iシェアーズ MSCI エマージング・マーケット ETF

August 31, 2017
Security
Idea Cellular Ltd.
IDFC Bank Ltd.
Indiabulls Housing
Finance Ltd.
Indian Oil Corp. Ltd.
Infosys Ltd.
ITC Ltd.
JSW Steel Ltd.
Larsen & Toubro Ltd.
LIC Housing Finance Ltd.
Lupin Ltd.
Mahindra & Mahindra
Financial Services Ltd.
Mahindra & Mahindra Ltd.
Marico Ltd.
Maruti Suzuki India Ltd.
Motherson Sumi
Systems Ltd.
Nestle India Ltd.
NTPC Ltd.
Oil & Natural Gas Corp. Ltd.
Piramal Enterprises Ltd.
Power Finance Corp. Ltd.
Reliance Industries Ltd.
Rural ElectrificationCorp. Ltd.
Shree Cement Ltd.
Shriram Transport Finance
Co. Ltd.
Siemens Ltd.
State Bank of India
Sun Pharmaceuticals
Industries Ltd.
Tata Consultancy
Services Ltd.
Tata Motors Ltd.a
Tata Motors Ltd. Class Aa
Tata Power Co. Ltd.
Tata Steel Ltd.
Tech Mahindra Ltd.
Titan Co. Ltd.
Ultratech Cement Ltd.
United Spirits Ltd.a
UPL Ltd.
Vedanta Ltd.

Shares
10,070,308 $9,532,997

Value
14,280,103
8,179,502

2,242,223
4,061,351
13,014,416
24,078,474
6,127,952
3,350,531
2,147,956
1,579,156

42,633,848
28,887,918
186,269,958
106,312,341
24,386,711
59,556,260
22,641,718
24,195,136

2,033,062
2,637,900
3,239,600
750,667

13,595,886
55,492,821
15,986,106
90,422,340

4,364,862
166,230
11,773,053
9,074,596
561,887
4,522,281
9,207,653

21,036,960
18,517,673
31,078,042
22,279,703
23,852,373
8,637,618
229,664,695

4,785,446
60,177

12,617,460
16,559,342

1,055,505
524,153
12,173,542

16,263,623
10,536,151
52,892,220

6,826,727

51,382,330

3,314,582
11,219,020
2,681,412
8,239,209
2,143,490
3,267,262
2,186,398
612,524424,633
2,532,838
10,508,552

129,435,979
66,084,308
9,175,556
10,214,228
21,394,244
21,882,689
21,105,981
38,330,748
16,891,328
32,808,377
50,778,698

Security
Wipro Ltd.
Yes Bank Ltd.
Zee Entertainment
Enterprises Ltd.

Shares8,572,738 $
2,372,712
3,943,409

Value
40,110,376
65,066,898
32,046,319
3,117,817,141

INDONESIA — 2.26%
Adaro Energy Tbk PT
AKR Corporindo Tbk PT
Astra International Tbk PT
Bank Central Asia Tbk PT
Bank Danamon Indonesia
Tbk PT
Bank Mandiri Persero
Tbk PT
Bank Negara Indonesia
Persero Tbk PT
Bank Rakyat Indonesia
Persero Tbk PT
Bumi Serpong Damai
Tbk PT
Charoen PokphandIndonesia Tbk PT
Gudang Garam Tbk PT
Hanjaya MandalaSampoerna Tbk PT
Indocement Tunggal
Prakarsa Tbk PT
Indofood CBP Sukses
Makmur Tbk PT
Indofood Sukses Makmur
Tbk PT
Jasa Marga Persero
Tbk PT
Kalbe Farma Tbk PT
Lippo Karawaci Tbk PT
Matahari Department Store
Tbk PTMedia Nusantara Citra
Tbk PT
Pakuwon Jati Tbk PT
Perusahaan Gas Negara
Persero Tbk PT
Semen Indonesia Persero
Tbk PT－ 49 －

104,348,400
12,524,600
143,415,600
71,160,900

14,273,410
6,359,928
84,649,816
101,071,733

25,262,716

10,319,428

66,000,400

64,803,271

52,907,376

29,146,246

78,576,222

89,077,002

54,412,700

7,483,683

52,891,745
3,421,700

10,981,122
17,747,087

65,298,200

17,814,829

11,953,300

17,739,120

16,280,500

10,646,632

31,200,900

19,585,335

15,076,695
152,004,715
111,353,600

6,582,353
19,481,941
6,551,685

17,410,100

13,049,093

37,105,100
141,250,200

4,143,801
7,093,212

76,976,800

12,231,361

20,911,400

16,417,847

３．iシェアーズ MSCI エマージング・マーケット ETF

August 31, 2017
Security
Summarecon Agung
Tbk PT
Surya Citra Media Tbk PT
Telekomunikasi Indonesia
Persero Tbk PT
Tower Bersama
Infrastructure Tbk PT
Unilever Indonesia Tbk PT
United Tractors Tbk PT
Waskita Karya Persero
Tbk PTXL Axiata Tbk PTa

Shares71,039,300 $
40,848,200

Value
5,564,088
6,766,191

356,091,500

125,173,822

16,061,000
10,765,500
12,049,553

7,734,367
40,788,190
27,364,822

33,339,700
25,112,700

5,547,454
6,776,025
812,964,894

MALAYSIA — 2.24%
AirAsia Bhd
Alliance Financial
Group Bhd
AMMB Holdings Bhd
Astro Malaysia
Holdings Bhd
Axiata Group Bhdc
British American Tobacco
Malaysia Bhd
CIMB Group Holdings Bhd
Dialog Group Bhd
DiGi.Com Bhdc
Felda Global Ventures
Holdings Bhdc
Gamuda Bhdc
Genting Bhd
Genting Malaysia Bhd
Genting Plantations Bhd
HAP Seng
Consolidated Bhd
Hartalega Holdings Bhd
Hong Leong Bank Bhdc
Hong Leong Financial
Group Bhd
IHH Healthcare Bhdc
IJM Corp. Bhd
IOI Corp. Bhdc
IOI Properties Group Bhd
Kuala Lumpur Kepong Bhd
Malayan Banking Bhd

10,587,400

8,230,926

7,575,500
12,680,175

6,811,830
12,708,383

10,402,500
19,035,300

6,528,205
21,974,951

Security
Malaysia Airports
Holdings Bhd
Maxis Bhdc
MISC Bhd
Petronas Chemicals
Group Bhd
Petronas Dagangan Bhd
Petronas Gas Bhd
PPB Group Bhd
Public Bank Bhd
RHB Bank Bhd
RHB Bank Bhd Newa,dSapura Energy Bhdc
Sime Darby Bhd
Telekom Malaysia Bhd
Tenaga Nasional Bhd
UMW Holdings Bhda,cWestports Holdings Bhd
YTL Corp. Bhd
YTL Power
International Bhd

SharesValue

5,676,700 $
13,394,400
8,216,900

11,963,541
18,128,939
14,315,358

17,026,600
1,503,400
4,932,600
3,479,700
20,189,730
5,489,525
3,214,200
27,631,500
16,774,173
7,902,100
24,081,550
3,565,100
6,747,500
31,266,362

28,547,115
8,589,851
21,252,743
13,591,241
97,391,040
6,491,535
8
8,929,041
35,351,260
11,898,022
80,525,590
5,075,707
5,925,097
10,469,710

17,232,243

5,689,606
802,845,177

999,500
28,271,000
23,197,812
24,745,000

10,340,220
46,870,081
11,135,819
28,044,913

9,816,900
12,305,500
15,997,800
21,465,700
2,021,100

3,563,094
15,387,278
36,374,813
29,505,599
5,035,594

4,032,100
4,456,400
4,373,700

8,573,110
7,085,577
15,813,120

1,442,800
17,407,700
20,006,140
16,284,120
15,491,756
3,166,900
25,380,900

5,709,711
24,416,842
15,646,999
17,311,768
7,218,966
18,198,273
56,223,701

MEXICO — 3.56%
Alfa SAB de CV
America Movil SAB de CV
Series L
Arca Continental SAB
de CV
Cemex SAB de CV CPOa
Coca-Cola Femsa SAB de
CV Series L
El Puerto de Liverpool SAB
de CV Series C1c
Fibra Uno Administracion
SA de CV
Fomento Economico
Mexicano SAB de CV
Gentera SAB de CV
Gruma SAB de CV Series B
Grupo Aeroportuario delPacifico SAB de CV
Series B
Grupo Aeroportuario delSureste SAB de CV
Series B－ 50 －

21,250,600

29,844,021

236,571,300

220,606,529

3,033,036
103,224,673

22,259,253
96,779,918

3,529,393

29,016,956

1,313,375

11,803,813

18,260,300

32,672,902

13,731,800
7,325,500
1,525,985

137,859,251
11,274,268
22,451,293

2,558,000

28,304,452

1,494,275

30,577,606

３．iシェアーズ MSCI エマージング・マーケット ETF

August 31, 2017
Security
Grupo Bimbo SAB de CV
Series A
Grupo Carso SAB de CV
Series A1
Grupo Financiero Banorte
SAB de CV Series O
Grupo Financiero Inbursa
SAB de CV Series Oc
Grupo Financiero
Santander Mexico SAB
de CV Series B
Grupo Lala SAB de CVc
Grupo Mexico SAB de CV
Series B
Grupo Televisa SAB
Industrias Penoles SAB
de CV
Infraestructura Energetica
Nova SAB de CV
Kimberly-Clark de Mexico
SAB de CV Series A
Mexichem SAB de CV
Promotora y Operadora de
Infraestructura SAB
de CV
Wal-Mart de Mexico SAB
de CV

SharesValue

11,643,000 $

28,312,557

3,848,441

15,600,840

17,675,656

120,913,775

16,566,300

27,792,140

12,953,500
4,244,600

26,767,890
7,559,081

26,980,188
17,296,800

89,223,733
89,712,092

985,553

25,687,334

3,716,000

20,255,539

10,818,700
7,537,734

21,306,273
20,139,815

1,780,920

19,576,106

37,041,300

90,385,947
1,276,683,384

PAKISTAN — 0.09%
Engro Corp. Ltd./Pakistan
Habib Bank Ltd.
Lucky Cement Ltd.
MCB Bank Ltd.
Oil & Gas Development
Co. Ltd.
United Bank Ltd./Pakistan

SharesValue

14,885,870 $
8,257,964
23,439,180
1,762,126
53,937,100

21,658,257
6,374,625
6,367,102
31,681,765
44,271,218

5,857,272
13,560,351
25,404,800
62,792,800
242,675
572,425

12,122,046
33,682,248
7,794,711
8,320,015
9,485,050
12,506,765

3,875,640
19,926,234
3,371,259
74,660,400

7,907,305
27,959,812
15,693,451
7,207,785

93,393,500

11,589,774

4,434,186
662,458
9,653,500
1,221,390
1,842,072
60,404,225
6,336,300

7,591,063
22,396,958
4,376,807
5,967,315
29,177,240
39,427,421
18,091,331
391,650,064

1,846,700
3,958,500
908,550
2,545,900

4,976,786
6,685,049
5,155,935
4,681,842

4,468,600
3,213,900

5,993,531
5,686,342
33,179,485

PERU — 0.39%
Cia. de Minas
Buenaventura SAA ADR
Credicorp Ltd.
Southern Copper Corp.

Security
PHILIPPINES — 1.09%
Aboitiz Equity Ventures Inc.
Aboitiz Power Corp.
Alliance Global Group Inc.
Ayala Corp.
Ayala Land Inc.
Bank of thePhilippine Islands
BDO Unibank Inc.
DMCI Holdings Inc.
Energy Development Corp.
Globe Telecom Inc.
GT Capital Holdings Inc.
International Container
Terminal Services Inc.
JG Summit Holdings Inc.
Jollibee Foods Corp.
Megaworld Corp.
Metro PacificInvestments Corp.
Metropolitan Bank &Trust Co.
PLDT Inc.
Robinsons Land Corp.
Security Bank Corp.
SM Investments Corp.
SM Prime Holdings Inc.
Universal Robina Corp.

1,358,484
481,964
613,034

18,244,440
97,761,578
24,950,484
140,956,502

POLAND — 1.36%
Alior Bank SAa
Bank Handlowy w
Warszawie SA
Bank Millennium SAa
Bank Pekao SA
Bank Zachodni WBK SA
CCC SA
Cyfrowy Polsat SA
Eurocash SA
Grupa Azoty SA
Grupa Lotos SAa
Jastrzebska Spolka
Weglowa SAa
KGHM Polska Miedz SA
LPP SAc－ 51 －

642,431

11,865,575

246,272
4,400,275
1,119,259
249,537
193,254
1,466,894
550,994309,819
655,019

4,893,186
9,173,910
40,076,451
25,809,838
14,180,108
11,001,500
6,035,122
5,973,731
10,789,281

373,498
989,591
9,176

10,870,261
34,921,203
22,423,603

３．iシェアーズ MSCI エマージング・マーケット ETF

August 31, 2017
SecuritymBank SAa
Orange Polska SAa
PGE Polska Grupa
Energetyczna SA
Polski Koncern Naftowy
ORLEN SA
Polskie Gornictwo Naftowe i
Gazownictwo SA
Powszechna Kasa
Oszczednosci Bank
Polski SAa
Powszechny Zaklad
Ubezpieczen SA
Synthos SA
Tauron Polska Energia SAa

SharesValue

107,105 $4,623,654

13,128,110
7,750,514

5,955,107

23,781,098

2,163,134

71,369,983

12,607,692

24,097,648

6,611,027

67,860,433

4,251,778
3,901,627
7,542,900

57,707,291
5,219,057
8,274,520
487,202,423

QATAR — 0.60%
Barwa Real Estate Co.
Commercial BankPQSC (The)a
Doha Bank QPSC
Ezdan Holding Group QSCIndustries Qatar QSC
Masraf Al Rayan QSC
Ooredoo QSC
Qatar Electricity & Water
Co. QSC
Qatar Gas Transport
Co. Ltd.
Qatar Insurance Co. SAQ
Qatar Islamic Bank SAQ
Qatar National Bank QPSC

724,466

6,305,068

1,430,764
702,894
5,753,059
1,039,572
2,668,535
579,129

11,713,306
5,821,980
17,758,842
25,980,378
27,958,698
13,930,905

209,275

10,690,052

1,906,436
986,761434,553
1,598,344

8,895,392
17,885,678
11,098,779
57,327,491
215,366,569

RUSSIA — 3.14%
Alrosa PJSC
Gazprom PJSC
Gazprom PJSC ADRInter RAO UES PJSC
Lukoil PJSC
Lukoil PJSC ADR
Magnit PJSC GDReMMC Norilsk Nickel PJSC
Mobile TeleSystems
PJSC ADR

18,323,000
57,873,929
9,083,053
220,515,000
2,288,086
741,219
2,168,050
447,387

25,477,094
117,312,422
36,241,381
14,690,874
115,438,519
37,246,255
90,602,810
75,341,280

3,544,686

35,411,413

Security
Moscow Exchange MICEXRTS PJSC
Novatek PJSC GDRe
Novolipetsk Steel PJSC
PhosAgro PJSC GDRe
Rosneft Oil Co. PJSC
Rosneft Oil Co. PJSC GDR
Rostelecom PJSC
RusHydro PJSC
Sberbank of Russia PJSC
Sberbank of Russia
PJSC ADR
Severstal PJSC
Sistema PJSC FC GDRe
Surgutneftegas OJSC
Surgutneftegas OJSC ADR
Tatneft PJSC Class S
VTB Bank PJSCVTB Bank PJSC GDRe

Shares10,426,180 $
650,846
7,938,199
758,030
6,700,087
1,340,410
6,910,400
764,906,100
61,067,081
3,475,361
1,355,463
1,207,897
38,697,660
1,292,397
10,679,140
29,830,502,000
2,946,203

Value
18,886,511
68,794,422
18,794,703
10,536,617
35,256,937
6,970,132
7,906,949
10,887,153
193,364,193
47,438,678
21,262,622
5,012,773
17,901,208
5,911,424
70,611,963
33,284,830
6,581,818
1,127,164,981

SOUTH AFRICA — 6.76%
Anglo American
Platinum Ltd.a
AngloGold Ashanti Ltd.
Aspen Pharmacare
Holdings Ltd.
Barclays Africa Group Ltd.
Bid Corp. Ltd.
Bidvest Group Ltd. (The)Brait SEa
Capitec Bank Holdings Ltd.
Coronation FundManagers Ltd.
Discovery Ltd.
Exxaro Resources Ltd.
FirstRand Ltd.
Fortress Income Fund Ltd.
Fortress Income Fund Ltd.
Class A
Foschini Group Ltd. (The)Gold Fields Ltd.
Growthpoint Properties Ltd.
Hyprop Investments Ltd.
Impala Platinum
Holdings Ltd.a－ 52 －

378,333
2,900,474

10,260,618
29,380,758

2,740,038
4,804,947
2,382,184
2,370,179
2,550,289
295,200

61,116,708
54,853,475
54,148,293
31,265,027
11,290,143
20,452,210

1,618,936
2,543,112
1,439,369
24,057,955
5,725,015

8,762,620
29,466,641
14,492,804
102,784,246
17,358,941

7,042,771
1,577,655
5,836,452
15,177,104
1,741,864

9,504,151
18,604,130
26,044,564
29,367,507
15,295,167

4,435,881

13,719,747

３．iシェアーズ MSCI エマージング・マーケット ETF

August 31, 2017
Security
Imperial Holdings Ltd.
Investec Ltd.
Liberty Holdings Ltd.
Life Healthcare Group
Holdings Ltd.
Massmart Holdings Ltd.
MMI Holdings Ltd./South Africa
Mondi Ltd.
Mr. Price Group Ltd.
MTN Group Ltd.
Naspers Ltd. Class N
Nedbank Group Ltd.
NEPI Rockcastle PLCa
Netcare Ltd.
Pick n Pay Stores Ltd.
Pioneer Foods Group Ltd.
PSG Group Ltd.
Rand Merchant Investment
Holdings Ltd.
Redefine Properties Ltd.
Remgro Ltd.
Resilient REIT Ltd.
RMB Holdings Ltd.
Sanlam Ltd.
Sappi Ltd.
Sasol Ltd.
Shoprite Holdings Ltd.
Sibanye Gold Ltd.
SPAR Group Ltd. (The)Standard Bank Group Ltd.
Steinhoff International
Holdings NV Class H
Telkom SA SOC Ltd.
Tiger Brands Ltd.
Truworths International Ltd.
Vodacom Group Ltd.
Woolworths Holdings Ltd./South Africa

SharesValue

1,117,185 $
1,889,314
878,098

17,931,690
14,400,795
6,999,112

9,179,123
766,434

18,623,079
7,174,023

7,365,724
844,1221,737,043
12,038,047
3,110,774
1,580,681
2,146,621
7,029,587
2,570,881
901,966
659,265

11,793,092
23,037,273
24,223,046
119,690,465
703,880,978
26,739,322
31,131,991
13,039,688
12,655,123
8,788,920
12,812,490

4,687,701
35,477,843
3,773,354
2,078,692
5,051,844
10,049,254
3,946,902
3,934,326
3,160,798
12,038,541
1,358,679
9,208,194

15,014,348
29,097,427
63,099,711
20,000,863
25,827,662
55,513,479
26,540,430
118,621,556
54,811,484
19,237,584
17,671,451
118,617,267

21,341,233
1,887,652
1,170,855
3,167,666
3,694,989

103,212,918
9,114,756
36,303,486
20,235,531
51,623,239

7,068,634

32,271,802
2,427,903,831

SOUTH KOREA — 13.76%
AmorePacific Corp.c
AmorePacific Groupc
BGF retail Co. Ltd.c
BNK Financial Group Inc.

227,529
203,043
168,584
1,861,318

58,113,118
24,128,913
13,635,031
16,275,803

Security

SharesCelltrion Inc.a,cCheil Worldwide Inc.
CJ CheilJedang Corp.
CJ Corp.
CJ E&M Corp.
CJ Logistics Corp.a,cCoway Co. Ltd.
Daelim Industrial Co. Ltd.
Daewoo Engineering &Construction Co. Ltd.a
DGB Financial Group Inc.
Dongbu Insurance Co. Ltd.
Dongsuh Cos. Inc.
Doosan Bobcat Inc.
Doosan Heavy Industries &Construction Co. Ltd.
E-MART Inc.
GS Engineering &Construction Corp.a,c
GS Holdings Corp.
GS Retail Co. Ltd.
Hana Financial Group Inc.
Hankook Tire Co. Ltd.
Hanmi Pharm Co. Ltd.a,cHanmi Science Co. Ltd.a,cHanon Systems
Hanssem Co. Ltd.c
Hanwha Chemical Corp.
Hanwha Corp.
Hanwha Life Insurance
Co. Ltd.
Hanwha Techwin Co. Ltd.a,cHotel Shilla Co. Ltd.
Hyosung Corp.
Hyundai Department Store
Co. Ltd.
Hyundai Development Co.
Engineering& Construction
Hyundai Engineering &Construction Co. Ltd.
Hyundai Glovis Co. Ltd.
Hyundai Heavy Industries
Co. Ltd.a

567,071 $
500,382
56,098103,292
135,047
53,573379,642
199,202－ 53 －

Value
57,883,888
8,431,410
18,034,343
16,213,803
9,102,139
8,029,299
33,264,127
14,804,122

905,165
1,204,487
354,242
255,712238,6445,643,233
11,750,051
23,624,511
6,009,549
8,074,023

371,978
147,341

5,937,925
29,269,585

348,003
365,371
194,178
2,100,066
530,371
43,352
89,1291,323,492
75,430758,602321,518

8,795,748
22,876,191
6,948,459
91,258,632
27,750,877
15,493,842
7,074,357
13,556,521
11,372,029
23,781,998
14,014,375

1,708,664
263,361
226,040
149,498

11,092,072
9,062,085
12,408,546
21,014,041

106,004

9,081,222

423,753

14,148,901

548,779
133,107

19,783,493
18,296,900

221,106

29,118,695

３．iシェアーズ MSCI エマージング・マーケット ETF

August 31, 2017
Security
Hyundai Marine & Fire
Insurance Co. Ltd.
Hyundai Mobis Co. Ltd.
Hyundai Motor Co.
Hyundai Robotics Co. Ltd.a
Hyundai Steel Co.
Hyundai Wia Corp.c
Industrial Bank of Korea
Kakao Corp.c
Kangwon Land Inc.
KB Financial Group Inc.
KCC Corp.
KEPCO Plant Service &Engineering Co. Ltd.
Kia Motors Corp.
Korea Aerospace Industries
Ltd. Class A
Korea Electric Power Corp.
Korea Gas Corp.a
Korea Investment Holdings
Co. Ltd.
Korea Zinc Co. Ltd.
Korean Air Lines Co. Ltd.a
KT Corp.
KT&G Corp.
Kumho Petrochemical
Co. Ltd.c
LG Chem Ltd.
LG Corp.
LG Display Co. Ltd.
LG Electronics Inc.
LG Household & HealthCare Ltd.c
LG Innotek Co. Ltd.
Lotte Chemical Corp.
Lotte Chilsung Beverage
Co. Ltd.c
Lotte Confectionery
Co. Ltd.c
Lotte Shopping Co. Ltd.c
Medy-Tox Inc.
Mirae Asset Daewoo
Co. Ltd.
NAVER Corp.
NCsoft Corp.

Shares440,141 $483,341
1,094,973
68,910564,801
115,245
1,798,682
239,622832,0472,800,574
41,111

Value
18,033,446
101,160,408
136,434,646
27,072,659
28,901,222
7,154,266
23,847,371
26,138,264
25,457,273
137,594,714
14,437,705

161,085
1,869,888

6,535,685
58,786,387

481,813
1,822,167
204,380

19,762,195
69,325,084
8,210,725

279,301
59,881
329,877
170,925
828,849

16,273,568
27,402,089
9,712,590
4,729,390
84,163,897

129,161
325,399
674,313
1,651,832
750,300

9,026,150
109,370,540
50,232,611
45,631,932
54,229,736

66,814
100,982
109,346

56,883,150
16,522,862
38,740,446

4,395

6,029,678

40,386
88,61329,776

7,073,639
20,196,471
15,027,955

2,678,150
198,598
124,653

24,107,150
132,974,007
42,505,391

Security

SharesNetmarble Games Corp.a,b,c
NH Investment & Securities
Co. Ltd.
OCI Co. Ltd.c
Orion Corp./Republicof Koreaa
Ottogi Corp.c
Pan Ocean Co. Ltd.a
POSCO
Posco Daewoo Corp.
S-1 Corp.
S-Oil Corp.
Samsung Biologics
Co. Ltd.a,b,c
Samsung C&T Corp.
Samsung Card Co. Ltd.
Samsung ElectroMechanics Co. Ltd.
Samsung Electronics
Co. Ltd.
Samsung Fire & Marine
Insurance Co. Ltd.
Samsung Heavy Industries
Co. Ltd.a,cSamsung Life Insurance
Co. Ltd.
Samsung SDI Co. Ltd.
Samsung SDS Co. Ltd.
Samsung Securities
Co. Ltd.
Shinhan Financial GroupCo. Ltd.
Shinsegae Inc.c
SK Holdings Co. Ltd.
SK Hynix Inc.
SK Innovation Co. Ltd.
SK Networks Co. Ltd.
SK Telecom Co. Ltd.
Woori Bank
Yuhan Corp.

118,622 $

16,253,192

Value

996,279
118,617

12,192,843
10,340,592

165,909
8,588
1,505,099
522,787
288,556
131,455
319,970

12,844,853
5,795,910
8,582,641
159,256,238
5,412,344
10,457,178
35,612,128

117,360
538,026
235,932

29,454,487
61,551,396
7,762,573

398,238

35,670,484

695,708

1,428,928,457

220,790

54,140,152

1,795,762

17,040,310

496,367
390,748
246,333

50,842,842
68,093,280
36,591,679

457,067

14,815,359

3,025,965
53,011
228,681
4,135,264
459,412945,253
143,096
2,519,494
58,699139,544,324
9,073,362
54,249,882
251,577,785
76,799,541
5,876,395
32,169,950
41,559,585
11,764,787
4,939,093,708

TAIWAN — 11.83%
Acer Inc.c
Advanced Semiconductor
Engineering Inc.c
Advantech Co. Ltd.c－ 54 －

20,899,121

10,526,082

46,706,220
2,466,126

56,334,087
18,181,949

３．iシェアーズ MSCI エマージング・マーケット ETF

August 31, 2017
Security
Asia Cement Corp.
Asia Pacific Telecom
Co. Ltd.a
Asustek Computer Inc.c
AU Optronics Corp.c
Catcher Technology
Co. Ltd.c
Cathay Financial Holding
Co. Ltd.
Chailease Holding Co. Ltd.c
Chang Hwa Commercial
Bank Ltd.
Cheng Shin Rubber
Industry Co. Ltd.c
Chicony Electronics
Co. Ltd.
China Airlines Ltd.
China Development
Financial Holding Corp.
China Life Insurance Co.
Ltd./Taiwan c
China Steel Corp.c
Chunghwa Telecom
Co. Ltd.
Compal Electronics Inc.
CTBC Financial Holding
Co. Ltd.
Delta Electronics Inc.c
E.Sun Financial Holding
Co. Ltd.c
Eclat Textile Co. Ltd.c
EVA Airways Corp.
Evergreen Marine Corp.
Taiwan Ltd.a
Far Eastern New
Century Corp.
Far EasTone
Telecommunications
Co. Ltd.
Feng TAY Enterprise
Co. Ltd.c
First Financial Holding
Co. Ltd.
Formosa Chemicals &Fibre Corp.

SharesValue

16,555,077 $

15,003,193

14,391,000
4,975,968
61,504,000

4,935,447
41,220,451
25,270,870

4,639,210

59,029,678

57,895,644
7,274,932

94,481,609
19,815,084

37,063,940

20,264,257

13,761,128

27,678,202

3,805,267
18,411,347

9,557,614
7,808,915

96,567,848

30,142,454

24,742,822
88,165,313

27,301,633
73,911,741

26,937,410
29,900,908

93,721,729
21,500,040

124,902,772
13,770,000

80,912,197
75,513,933

64,414,712
1,254,427
14,870,364

39,700,243
15,379,502
7,735,999

12,289,808

9,366,301

22,587,038

18,074,720

11,302,000

27,413,314

2,337,529

11,076,134

68,722,639

44,632,484

21,404,090

67,306,675

Security
Formosa
Petrochemical Corp.
Formosa Plastics Corp.
Formosa Taffeta Co. Ltd.
Foxconn Technology
Co. Ltd.c
Fubon Financial Holding
Co. Ltd.
General Interface Solution
Holding Ltd.
Giant Manufacturing
Co. Ltd.c
Globalwafers Co. Ltd.c
Highwealth
Construction Corp.c
Hiwin Technologies Corp.c
Hon Hai Precision Industry
Co. Ltd.
Hotai Motor Co. Ltd.c
HTC Corp.a,c
Hua Nan Financial Holdings
Co. Ltd.
Innolux Corp.c
Inventec Corp.
Largan Precision Co. Ltd.c
Lite-On Technology Corp.
MediaTek Inc.c
Mega Financial Holding
Co. Ltd.
Merida Industry Co. Ltd.c
Micro-Star International
Co. Ltd.c
Nan Ya Plastics Corp.
Nanya Technology Corp.c
Nien Made Enterprise
Co. Ltd.
Novatek
Microelectronics Corp.
Pegatron Corp.
Phison Electronics Corp.
Pou Chen Corp.
Powertech Technology Inc.
President ChainStore Corp.
Quanta Computer Inc.c－ 55 －

SharesValue

9,265,000 $
29,322,280
5,432,000

32,695,666
91,234,371
5,399,781

6,531,637

20,733,981

47,448,969

76,254,183

1,149,000

13,763,329

2,066,203
1,477,000

10,440,901
11,721,445

5,805,170
1,478,971

9,233,181
13,109,273

110,648,592
1,838,000
4,653,708

430,803,193
21,651,115
10,593,782

54,907,305
63,564,002
17,983,281
710,000
15,168,246
10,661,338

30,656,685
30,961,623
14,271,499
137,158,289
22,441,505
95,559,559

77,451,162
1,444,500

62,235,020
6,342,034

4,778,000
33,723,160
4,876,000

10,876,722
85,148,772
10,453,534

1,024,000

11,010,570

4,084,000
13,672,414
1,046,535
15,619,220
4,932,300

15,900,792
43,039,177
14,113,779
20,262,184
14,970,631

4,061,000
19,144,000

33,977,352
43,579,734

３．iシェアーズ MSCI エマージング・マーケット ETF

August 31, 2017
Security
Realtek
Semiconductor Corp.
Ruentex Development
Co. Ltd.a,cRuentex Industries Ltd.c
Shin Kong Financial
Holding Co. Ltd.
Siliconware Precision
Industries Co. Ltd.
SinoPac Financial Holdings
Co. Ltd.
Standard Foods Corp.c
Synnex Technology
International Corp.
TaiMed Biologics Inc.a,cTaishin Financial Holding
Co. Ltd.c
Taiwan Business Bank
Taiwan Cement Corp.c
Taiwan Cooperative
Financial Holding
Co. Ltd.
Taiwan Fertilizer Co. Ltd.
Taiwan High Speed
Rail Corp.
Taiwan Mobile Co. Ltd.
Taiwan Semiconductor
Manufacturing Co. Ltd.
Teco Electric andMachinery Co. Ltd.
Transcend Information Inc.
Uni-President
Enterprises Corp.
UnitedMicroelectronics Corp.c
Vanguard International
Semiconductor Corp.c
Wistron Corp.c
WPG Holdings Ltd.
Yuanta Financial Holding
Co. Ltd.
Yulon Motor Co. Ltd.
Zhen Ding Technology
Holding Ltd.c

Shares3,212,637 $Value
12,454,970

6,968,430
3,961,598

6,823,192
6,373,160

58,670,865

17,049,720

14,881,509

23,570,567

72,651,021
3,474,615

23,351,168
8,876,796

9,953,834
1,214,000

11,115,153
8,729,183

65,665,006
29,620,632
23,649,296

29,156,403
8,185,694
27,309,651

56,904,605
5,013,000

29,980,557
6,685,883

10,665,000
11,400,600

9,400,212
40,798,728

174,782,000

1,253,862,056

13,508,000
1,307,000

12,622,207
3,897,743

34,283,839

72,932,253

85,331,000

42,553,814

6,410,000
18,461,156
10,817,532

11,575,765
17,434,075
14,086,915

70,852,635
5,889,000

30,755,476
5,073,528

3,065,075

7,099,266
4,246,144,334

Security
THAILAND — 2.15%
Advanced Info Service
PCL NVDR
Airports of Thailand
PCL NVDR
Bangkok Bank PCL Foreign
Bangkok Dusit Medical
Services PCL NVDR
Bangkok Expressway &Metro PCL NVDR
Banpu PCL NVDR
BEC World PCL NVDR
Berli Jucker PCL NVDRBTS Group Holdings
PCL NVDR
Bumrungrad Hospital
PCL NVDR
Central Pattana PCL NVDR
Charoen Pokphand Foods
PCL NVDRCP ALL PCL NVDR
Delta Electronics Thailand
PCL NVDRElectricity Generating
PCL NVDRc
Energy Absolute
PCL NVDRc
Glow Energy PCL NVDR
Home Product Center
PCL NVDR
Indorama Ventures
PCL NVDR
IRPC PCL NVDR
Kasikornbank PCL Foreign
Kasikornbank PCL NVDRKCE Electronics
PCL NVDR
Krung Thai BankPCL NVDR
Minor International
PCL NVDRc
PTT Exploration &Production PCL NVDRPTT Global Chemical
PCL NVDR－ 56 －

Shares7,373,600 $Value

41,636,802

30,541,700
1,780,400

50,128,675
10,053,456

27,604,800

17,375,104

51,924,700
13,960,700
7,337,400
8,333,600

12,197,340
7,399,739
3,822,828
12,360,482

39,430,000

10,271,631

2,572,200
9,829,900

16,887,204
21,314,645

20,578,300
35,133,500

16,887,778
65,600,873

3,554,100

9,526,123

859,700

6,058,419

7,760,900
3,821,600

8,823,189
9,869,062

28,280,414

8,516,914

10,387,980
72,662,400
8,381,400
4,024,300

12,200,910
13,020,367
53,259,310
24,360,316

1,922,300

5,065,540

25,107,600

14,139,802

15,391,120

18,424,846

9,913,539

26,123,616

15,238,130

35,106,669

３．iシェアーズ MSCI エマージング・マーケット ETF

August 31, 2017
Security
PTT PCL NVDR
Robinson PCL NVDR
Siam Cement PCL(The) Foreign
Siam Cement PCL(The) NVDR
Siam Commercial BankPCL (The) NVDR
Thai Oil PCL NVDR
Thai Union GroupPCL NVDRTMB Bank PCL NVDR
True Corp. PCL NVDRa,c

SharesValue

7,493,200 $3,531,200

90,040,259
6,114,862

2,224,100

33,490,438

690,700

10,400,542

12,547,400
5,957,500

56,870,462
16,909,934

13,494,600
94,718,100
69,940,201

8,046,772
6,731,960
11,795,366

SharesValue

16,449,765 $4,457,121
11,276,304

51,171,012
19,132,100
24,462,938

5,774,638

7,426,219

5,404,389
1,100,654
6,099,494

11,270,395
6,579,919
8,585,985
436,017,121

770,832,235
TURKEY — 1.21%
Akbank Turk AS
Anadolu Efes Biracilik ve
Malt Sanayii AS
Arcelik AS
Aselsan Elektronik Sanayi
ve TAS
BIM Birlesik Magazalar AS
Coca-Cola Icecek AS
Emlak Konut Gayrimenkul
Yatirim Ortakligi ASa
Enka Insaat ve Sanayi AS
Eregli Demir ve Celik
Fabrikalari TAS
Ford Otomotiv Sanayi AS
Haci Omer Sabanci
Holding AS
KOC Holding AS
Petkim Petrokimya
Holding AS
TAV Havalimanlari
Holding AS
Tofas Turk Otomobil
Fabrikasi AS
Tupras Turkiye Petrol
Rafinerileri AS
Turk Hava Yollari AOa
Turk
Telekomunikasyon ASa
Turkcell Iletisim
Hizmetleri AS

Security
Turkiye Garanti Bankasi AS
Turkiye Halk Bankasi AS
Turkiye Is Bankasi Class C
Turkiye Sise ve Cam
Fabrikalari AS
Turkiye Vakiflar Bankasi
Tao Class D
Ulker Biskuvi Sanayi AS
Yapi ve Kredi Bankasi ASa

15,612,290

46,757,057

1,465,830
1,697,486

9,000,766
11,799,877

1,422,774
1,517,599
536,727

11,126,529
33,626,254
6,240,090

13,648,564
1

11,622,360
19,949,037
505,323

23,687,153
6,958,061

6,609,719
5,397,519

20,293,123
28,202,703

4,908,565

8,871,543

1,178,097

7,240,798

897,590

8,215,332

891,341
3,990,695

30,283,211
11,281,280

3,299,052

6,860,782

6,618,032

25,321,633

UNITED ARAB EMIRATES — 0.73%
Abu Dhabi Commercial
Bank PJSC
14,773,115
Aldar Properties PJSC
23,098,197
DAMAC Properties Dubai
Co. PJSC
10,405,225
DP World Ltd.
1,208,116
Dubai Islamic Bank PJSC
9,308,268
DXB Entertainments PJSCa
22,248,190
Emaar Malls PJSC
14,104,870
Emaar Properties PJSC
25,234,746
Emirates
Telecommunications
Group Co. PJSC
12,512,758
First Abu Dhabi Bank PJSC
10,251,786

29,360,415
14,526,377
11,444,586
27,714,181
15,433,109
4,754,793
9,446,511
58,396,270

61,318,680
29,026,864
261,421,786

TOTAL COMMON STOCKS(Cost: $28,419,477,527)

34,401,811,535

PREFERRED STOCKS — 3.78%
BRAZIL — 2.63%
Banco Bradesco SA,
Preference Shares
Braskem SA Class A,
Preference Shares
Centrais Eletricas
Brasileiras SA Class B,
Preference Shares
Cia. Brasileira deDistribuicao,
Preference Shares
Cia. Energetica de Minas
Gerais,Preference Shares－ 57 －

21,659,833

231,161,211

1,218,600

14,759,760

1,735,737

11,325,361

1,121,186

25,652,459

5,352,902

14,256,485

３．iシェアーズ MSCI エマージング・マーケット ETF

August 31, 2017
Security
Cia. Paranaense deEnergia Class B,
Preference Shares
Gerdau SA,
Preference Shares
Itau Unibanco Holding SA,
Preference Shares
Itausa-Investimentos Itau
SA, Preference Shares
Lojas Americanas SA,
Preference Shares
Petroleo Brasileiro SA,
Preference Shares
Suzano Papel e Celulose
SA Class A,
Preference Shares
Telefonica Brasil SA,
Preference Shares
Vale SA,
Preference Shares

Shares736,175 $Value

6,724,299

6,508,185

24,510,795

22,917,653

293,895,437

28,082,685

91,037,006

5,159,224

29,137,412

27,844,327

120,794,884

2,877,600

16,004,704

3,166,967
1,553,200

49,158,470
16,077,714

RIGHTS — 0.00%

64,550 $9,817,600

165,041

14,109,571

269,591

24,386,557

54,847

12,792,445

14,2397,576,623

125,383

209,601,769

CHINA — 0.00%
Fosun International Ltd.
(Expires 09/07/17)a1,357,860,309

11,6898,761,191

689,464

32,219,748

3,330,127

37,996,624

23,132,789

10,369,238

643,823

8,797,705

TOTAL RIGHTS(Cost: $0)——

SHORT-TERM INVESTMENTS — 6.38%
MONEY MARKET FUNDS — 6.38%
BlackRock Cash Funds:
Institutional, SL
Agency Shares
1.32%f,g,h
2,193,968,858
BlackRock Cash Funds:
Treasury, SL
Agency Shares
0.96%f,g

94,337,685

57,163,567
RUSSIA — 0.10%
Surgutneftegas OJSC,
Preference Shares
Transneft PJSC,
Preference Shares

Value

—
1,859,279

40,980,939
COLOMBIA — 0.16%
Bancolombia SA,
Preference Shares
Grupo Aval Acciones y
Valores SA,
Preference Shares
Grupo de Inversiones
Suramericana SA,
Preference Shares

Shares278,284,565
TOTAL PREFERRED STOCKS(Cost: $993,706,594)

944,495,997
CHILE — 0.11%
Embotelladora Andina SA
Class B,
Preference Shares
Sociedad Quimica y Minerade Chile SA Series B,
Preference Shares

Security
SOUTH KOREA — 0.78%
AmorePacific Corp.,
Preference Shares
Hyundai Motor Co.,
Preference Shares
Hyundai Motor Co. Series
2, Preference Shares
LG Chem Ltd.,
Preference Shares
LG Household & HealthCare Ltd.,
Preference Shares
Samsung Electronics Co.
Ltd., Preference Shares

49,692,100

24,531,597

4,048

12,403,644

2,194,627,049

94,337,685
2,288,964,734

TOTAL SHORT-TERM INVESTMENTS(Cost: $2,288,576,204)

36,935,241－ 58 －

2,288,964,734

３．iシェアーズ MSCI エマージング・マーケット ETF

August 31, 2017
Value
TOTAL INVESTMENTS
IN SECURITIES — 106.01%(Cost: $31,701,760,325) i
Other Assets, Less Liabilities — (6.01)%
NET ASSETS — 100.00%$38,048,636,578(2,156,746,533)$35,891,890,045

ADR — American Depositary Receipts
CPO — Certificates of Participation (Ordinary)
GDR — Global Depositary Receipts
NVDR — Non-Voting Depositary Receipts
a Non-income earning security.
b This security may be resold to qualified institutional buyers under Rule 144Aof the Securities Act of 1933.

c
All or a portion of this security represents a security on loan. See Note 1.
d Security is valued using significant unobservable inputs and is classified as

Level 3 in the fair value hierarchy.

e This security may be resold to qualified foreign investors and foreign

institutional buyers under Regulation S of the Securities Act of 1933.

f Affiliated issuer. See Schedule 1.
g The rate quoted is the annualized seven-day yield of the fund at period end.
h All or a portion of this security represents an investment of securities lendingi

collateral. See Note 1.
The cost of investments (including short positions and derivatives, if any) for
federal income tax purposes was $33,023,233,035. Net unrealized
appreciation was $5,025,403,543, of which $9,268,485,519 represented
gross unrealized appreciation on investments and $4,243,081,976
represented gross unrealized depreciation on investments.

Futures contracts outstanding as of August 31, 2017 were as follows:

Description
Long Contracts:
MSCI Emerging Markets E-Mini－ 59 －

Number ofcontracts

Expiration
date

Notional
amount(000)

Value/
unrealized
appreciation(depreciation)

86,900

Sep 2017$94,391$

7,082,911

４．iシェアーズ 世界国債 UCITS ETF■損益計算書For the financial year ended 30 June 2017
Financial
year ended
30 June
2017$’000
Operating income

10,106

Net (losses)/gains on financial assets/liabilities at fair value through profit or loss

(58,886)

Total (losses)/gains(48,780)

Operating expenses(1,770)Net operating (loss)/profit(50,550)

Finance costs:(8,073)Distributions to redeemable participating shareholders
Interest expense(8)

Total finance costs(8,081)

Net (loss)/profit for the financial year

(58,631)(Decrease)/increase in net assets attributable to redeemable participating shareholders fromoperations(58,631)

There are no recognised gains or losses arising in the financial year other than those dealt with in the income statement. In arriving at the resultsof the financial year, all amounts relate to continuing operations.

－ 60 －

４．iシェアーズ 世界国債 UCITS ETF■組入銘柄

As at 30 June 2017

Holding

Investment

Fair value$'000% of net
asset
value

Holding

Transferable Securities Admitted to an Official Stock Exchange Listing or
traded on a Regulated Market (30 June 2016: 99.07%)

Investment

Government bonds: AAA rating (cont)Canada (30 June 2016: 1.74%)

705,000

Canadian Government Bond 5.75%
01/06/2033

824

0.09

400,000

Canadian Government Bond 8%
01/06/2027

483

0.05

17,9091.95

Government bonds: AAA rating

Total Canada
Canada Government International Bond
2.75% 01/12/2064

147

0.02

1,065,000

Canadian Government Bond 0.5%
01/08/2018

815

0.09

1,000,000

Canadian Government Bond 0.5%
01/03/2022

740

0.08

Canadian Government Bond 0.75%
01/09/2020

489

0.05

% of net
asset
value

Canada (30 June 2016: 1.74%) (cont)Bonds (30 June 2016: 99.07%)

160,000

Fair value$'000

France (30 June 2016: 8.81%)
Government bonds: AA rating

645,000
500,000
660,000

Canadian Government Bond 0.75%
01/03/2021
Canadian Government Bond 0.75%
01/09/2021

151

0.02

273

0.03

710,000
665,000
1,150,000

Canadian Government Bond 1.5%
01/06/2023
Canadian Government Bond 1.5%
01/06/2026
Canadian Government Bond 1.75%
01/03/2019

1,380,000

Canadian Government Bond 1.75%
01/09/2019

635,000

Canadian Government Bond 2.25%
01/06/2025

1,035,000

Canadian Government Bond 2.5%
01/06/2024

760,000

Canadian Government Bond 2.75%
01/06/2022

620,000

Canadian Government Bond 2.75%
01/12/2048

530,000

Canadian Government Bond 3.25%
01/06/2021

726
843

680,000

French Republic Government BondOAT 0% 25/05/2022

777

0.08

1,340,000

French Republic Government BondOAT 0.25% 25/11/2020

1,557

0.17

1,350,000

French Republic Government BondOAT 0.25% 25/11/2026^

1,471

0.16

1,190,000

French Republic Government BondOAT 0.5% 25/11/2019^

1,388

0.15

French Republic Government BondOAT 0.5% 25/05/2025^

1,989

0.22

French Republic Government BondOAT 0.5% 25/05/2026

1,553

0.17

French Republic Government BondOAT 1% 25/11/2018

1,364

0.15

0.05
1,170,000

895
1,077
512
845
623
545
438

0.10
605,000

French Republic Government BondOAT 1% 25/05/2019^

710

0.08

1,275,000

French Republic Government BondOAT 1% 25/11/2025

1,507

0.16

0.12
0.06
600,000

French Republic Government BondOAT 1% 25/05/2027

696

0.07

1,235,000

French Republic Government BondOAT 1.25% 25/05/2036

1,355

0.15

1,880,000

French Republic Government BondOAT 1.5% 25/05/2031

2,232

0.24

1,815,000

French Republic Government BondOAT 1.75% 25/05/2023

2,271

0.25

1,370,000

French Republic Government BondOAT 1.75% 25/11/2024^

1,720

0.19

390,000

French Republic Government BondOAT 1.75% 25/06/2039

458

0.05

French Republic Government BondOAT 1.75% 25/05/2066

366

0.04

French Republic Government BondOAT 2% 25/05/2048

531

0.06

French Republic Government BondOAT 2.25% 25/10/2022

2,017

0.22

0.09
0.07
0.06
0.05
0.06

895

0.10

Canadian Government Bond 4.25%
01/06/2018

0.17

1,380,000
504

533

870,000

1,553

0.06

Canadian Government Bond 3.5%
01/12/2045

Canadian Government Bond 4%
01/06/2041

0.20

French Republic Government BondOAT 0% 25/05/2021

1,740,000
547

Canadian Government Bond 3.5%
01/06/2020

820,000

1,862

0.09

904,000

Canadian Government Bond 3.75%
01/06/2019

0.09

French Republic Government BondOAT 0% 25/05/2020^

0.08

650,000

1,250,000

864

0.05

Canadian Government Bond 1%
01/06/2027

Canadian Government Bond 1.5%
01/03/2020

0.07

French Republic Government BondOAT 0% 25/02/2020

1,350,000
496

Canadian Government Bond 1%
01/09/2022

Canadian Government Bond 1.25%
01/09/2018

662

750,000

0.04

380,000
940,000

French Republic Government BondOAT 0% 25/02/2019

1,615,000
377

200,000

1,085,000

575,000

350,000
1,010

0.11
450,000849

0.09
1,580,000

690

0.07

651,000

Canadian Government Bond 5%
01/06/2037

738

0.08

775,000

Canadian Government Bond 5.75%
01/06/2029

844

0.09

1,615,000

French Republic Government BondOAT 2.25% 25/05/2024^

2,091

0.23

1,968,000

French Republic Government BondOAT 2.5% 25/10/2020^

2,456

0.27

－ 61 －

４．iシェアーズ 世界国債 UCITS ETF

As at 30 June 2017

Holding

Investment

Fair value$'000% of net
asset
value

Holding

Bonds (30 June 2016: 99.07%) (cont)2,180

French Republic Government BondOAT 2.75% 25/10/2027^

2,863

0.31

2,537,000

French Republic Government BondOAT 3% 25/04/2022^

3,324

0.36

1,938,000

French Republic Government BondOAT 3.25% 25/10/2021^

1,267,000

French Republic Government BondOAT 3.25% 25/05/2045

1,904,000

French Republic Government BondOAT 3.5% 25/04/2020^

1,864,000

French Republic Government BondOAT 3.5% 25/04/2026^

2,110,000

French Republic Government BondOAT 3.75% 25/10/2019

2,180,000

French Republic Government BondOAT 3.75% 25/04/2021^

2,868

0.31

1,389,000

French Republic Government BondOAT 4% 25/10/2038

2,307

0.25

2,538

Bundesobligation 1% 12/10/2018^

897

970,000

Bundesobligation 1% 22/02/2019

1,136

0.12

1,300,000

Bundesrepublik Deutschland 0%
15/08/2026^

1,430

0.16

1,055,000

Bundesrepublik Deutschland 0.25%
15/02/2027^

1,178

0.13

1,130,000

Bundesrepublik Deutschland 0.5%
15/02/2025^

1,322

0.14

Bundesrepublik Deutschland 0.5%
15/02/2026^

1,709

0.19

Bundesrepublik Deutschland 1%
15/08/2024^

1,068

0.12

Bundesrepublik Deutschland 1%
15/08/2025^

1,556

0.17

Bundesrepublik Deutschland 1.5%
04/09/2022

1,234

0.13

Bundesrepublik Deutschland 1.5%
15/02/2023^

1,635

0.18

1,170,000

Bundesrepublik Deutschland 1.5%
15/05/2023

1,458

0.16

924,000

Bundesrepublik Deutschland 1.5%
15/05/2024

1,158

0.13

Bundesrepublik Deutschland 1.75%
04/07/2022^

1,505

0.16

1,025,000

Bundesrepublik Deutschland 1.75%
15/02/2024^

1,304

0.14

1,028,000

Bundesrepublik Deutschland 2%
04/01/2022^

1,294

0.14

Bundesrepublik Deutschland 2%
15/08/2023

1,059

0.12

0.27
1,475,000

1,920

0.21
880,000

2,411

0.26
1,285,000

2,654

0.29
995,000

2,643

0.29
1,315,000

745,000

French Republic Government BondOAT 4% 25/04/2055

652,000

French Republic Government BondOAT 4% 25/04/2060

1,184

0.13

1,445,000

French Republic Government BondOAT 4.25% 25/10/2018^

1,752

0.19

1,325

0.14
1,201,000

2,435,000

French Republic Government BondOAT 4.25% 25/04/2019^

2,491,000

French Republic Government BondOAT 4.25% 25/10/2023

1,660,000

French Republic Government BondOAT 4.5% 25/04/2041^

1,275,000

French Republic Government BondOAT 4.75% 25/04/2035^

2,238

0.24

1,534,000

French Republic Government BondOAT 5.5% 25/04/2029

2,635

0.29

3,018

0.33
825,000

3,576

0.39
785,000

2,978

1,567,000

French Republic Government BondOAT 5.75% 25/10/2032^

2,921

0.32

1,575,000

French Republic Government BondOAT 6% 25/10/2025

2,610

0.28

845,000

French Republic Government BondOAT 8.5% 25/04/2023

248

1,038

0.11

1,561

0.17

1,198,000

Bundesrepublik Deutschland 2.5%
15/08/2046^

1,783

0.19

1,122,000

Bundesrepublik Deutschland 3%
04/07/2020

1,415

0.15

Bundesrepublik Deutschland 3.25%
04/01/2020

1,190

0.13

Bundesrepublik Deutschland 3.25%
04/07/2021

1,705

0.19

0.03

1,435

0.16

85,0789.25

1,180,000

Bundesobligation 0% 17/04/2020

1,366

0.15

810,000

Bundesobligation 0% 09/04/2021

937

0.10

1,370,000

Bundesobligation 0% 08/10/2021

1,583

0.17

138

0.01

1,200,000

Bundesobligation 0.25% 11/10/2019^

1,394

0.15

995,000

Bundesobligation 0.25% 16/10/2020^

1,161

0.13

Bundesobligation 0.5% 12/04/2019^

366

0.09

Bundesrepublik Deutschland 2.5%
04/01/2021

853,000

Bundesrepublik Deutschland 3.25%
04/07/2042

1,414

0.15

1,120,000

Bundesrepublik Deutschland 3.5%
04/07/2019

1,382

0.15

Government bonds: AAA rating

315,000

790

Bundesrepublik Deutschland 2.5%
04/07/2044

Germany (30 June 2016: 6.59%)

Bundesobligation 0% 08/04/2022

0.11

Bundesrepublik Deutschland 2.25%
04/09/2021

825,000

1,304,000

120,000

973

1,058,000

952,000

Total France

Bundesrepublik Deutschland 2.25%
04/09/2020

0.32
625,000

French Republic Government BondOAT 8.5% 25/10/2019

0.10

770,000
0.24

2,115,000

180,000% of net
asset
value

Government bonds: AAA rating (cont)

Government bonds: AA rating (cont)
French Republic Government BondOAT 2.5% 25/05/2030^

Fair value$'000

Germany (30 June 2016: 6.59%) (cont)France (30 June 2016: 8.81%) (cont)1,635,000

Investment

1,085,000

Bundesrepublik Deutschland 3.75%
04/01/2019

1,320

0.14

1,210,000

Bundesrepublik Deutschland 4%
04/01/2037^

2,114

0.23

1,035,000

Bundesrepublik Deutschland 4.25%
04/07/2018

1,239

0.13

739,000

Bundesrepublik Deutschland 4.25%
04/07/2039

1,370

0.15

0.04

－ 62 －

４．iシェアーズ 世界国債 UCITS ETF

As at 30 June 2017

Holding

Investment

Fair value$'000% of net
asset
value

Holding

Bonds (30 June 2016: 99.07%) (cont)% of net
asset
value

Government bonds: BBB- rating (cont)

Government bonds: AAA rating (cont)
Bundesrepublik Deutschland 4.75%
04/07/2028

Fair value$'000

Italy (30 June 2016: 8.49%) (cont)

Germany (30 June 2016: 6.59%) (cont)429,500

Investment

708

0.08

770,000

Italy Buoni Poliennali Del Tesoro 1.45%
15/09/2022

898

0.10

1,160,000

Italy Buoni Poliennali Del Tesoro 1.5%
01/08/2019

1,365

0.15

1,024,000

Bundesrepublik Deutschland 4.75%
04/07/2034

1,877

0.20

1,070,000

Italy Buoni Poliennali Del Tesoro 1.5%
01/06/2025^

1,195

0.13

838,000

Bundesrepublik Deutschland 4.75%
04/07/2040

1,671

0.18

1,860,000

Italy Buoni Poliennali Del Tesoro 1.6%
01/06/2026^

2,058

0.22

910,000

Bundesrepublik Deutschland 5.5%
04/01/2031

1,673

0.18

1,210,000

Italy Buoni Poliennali Del Tesoro 1.65%
01/03/2032

1,231

0.13

880,000

Bundesrepublik Deutschland 5.625%
04/01/2028

Italy Buoni Poliennali Del Tesoro 1.85%
15/05/2024

465

0.05

445,000

Bundesrepublik Deutschland 6.25%
04/01/2024

Italy Buoni Poliennali Del Tesoro 2%
01/12/2025

1,059

0.12

545,000

Bundesrepublik Deutschland 6.25%
04/01/2030

Italy Buoni Poliennali Del Tesoro 2.15%
15/12/2021

1,028

0.11

733,000

Bundesrepublik Deutschland 6.5%
04/07/2027

Italy Buoni Poliennali Del Tesoro 2.2%
01/06/2027

745

0.08

900,000

Bundesschatzanweisungen 0%
15/06/2018

1,033

0.11

670,000

Italy Buoni Poliennali Del Tesoro 2.25%
01/09/2036

698

0.08

900,000

Bundesschatzanweisungen 0%
14/09/2018

1,034

0.11

420,000

Italy Buoni Poliennali Del Tesoro 2.45%
01/09/2033

462

0.05
0.14

1,527
713
1,038
1,330

400,000

0.17

920,000

0.08

848,000

0.11

650,000

0.14

900,000

Bundesschatzanweisungen 0%
14/12/2018

1,036

0.11

1,085,000

Italy Buoni Poliennali Del Tesoro 2.5%
01/05/2019

1,296

300,000

Bundesschatzanweisungen 0%
15/03/2019

346

0.04

890,000

Italy Buoni Poliennali Del Tesoro 2.5%
01/12/2024

1,073

0.12

Italy Buoni Poliennali Del Tesoro 2.7%
01/03/2047

835

0.09

930,000

Bundesschatzanweisungen 0%
14/06/2019
Total Germany

1,072
62,240820,000

0.12
6.76

275,000

Italy Buoni Poliennali Del Tesoro 2.8%
01/03/2067

262

0.03

835,000

Italy Buoni Poliennali Del Tesoro 3.25%
01/09/2046

949

0.10

900,000

Italy Buoni Poliennali Del Tesoro 3.5%
01/06/2018

1,063

0.12

950,000

Italy Buoni Poliennali Del Tesoro 3.5%
01/12/2018

1,141

0.12

Italy Buoni Poliennali Del Tesoro 3.5%
01/03/2030

2,068

0.23

Italy (30 June 2016: 8.49%)
Government bonds: BBB- rating
1,080,000

Italy Buoni Poliennali Del Tesoro 0.05%
15/10/2019

1,000,000

Italy Buoni Poliennali Del Tesoro 0.1%
15/04/2019

1,145

0.12

Italy Buoni Poliennali Del Tesoro 0.3%
15/10/2018

575

0.06

800,000

Italy Buoni Poliennali Del Tesoro 0.35%
15/06/2020

915

0.10

750,000

Italy Buoni Poliennali Del Tesoro 0.35%
01/11/2021

500,000

1,231

0.13

1,634,000

845

Italy Buoni Poliennali Del Tesoro 0.45%
01/06/2021

1,537

0.17

800,000

Italy Buoni Poliennali Del Tesoro 0.65%
01/11/2020

923

0.10

Italy Buoni Poliennali Del Tesoro 0.65%
15/10/2023

569

0.06

920,000

Italy Buoni Poliennali Del Tesoro 0.7%
01/05/2020

1,064

0.12

1,450,000

Italy Buoni Poliennali Del Tesoro 0.95%
15/03/2023

1,637

0.18

Italy Buoni Poliennali Del Tesoro 1.05%
01/12/2019

817

0.09

1,155,000

Italy Buoni Poliennali Del Tesoro 1.25%
01/12/2026^

1,231

0.13

1,575,000

Italy Buoni Poliennali Del Tesoro 1.35%
15/04/2022^

700,000

Italy Buoni Poliennali Del Tesoro 3.75%
01/03/2021

1,257

0.14

780,000

Italy Buoni Poliennali Del Tesoro 3.75%
01/05/2021^

1,000

0.11

1,215,000

Italy Buoni Poliennali Del Tesoro 3.75%
01/08/2021

1,563

0.17

845,000

Italy Buoni Poliennali Del Tesoro 3.75%
01/09/2024

1,102

0.12

Italy Buoni Poliennali Del Tesoro 4%
01/09/2020

1,674

0.18

1,461,000

Italy Buoni Poliennali Del Tesoro 4%
01/02/2037^

1,938

0.21

1,960,000

Italy Buoni Poliennali Del Tesoro 4.25%
01/02/2019

2,391

0.26

Italy Buoni Poliennali Del Tesoro 4.25%
01/09/2019

747

0.08

0.09

1,350,000

520,000

982,000

1,313,000

600,000

1,838

1,394,000

Italy Buoni Poliennali Del Tesoro 4.25%
01/03/2020

1,762

0.19

1,170,000

Italy Buoni Poliennali Del Tesoro 4.5%
01/08/2018

1,404

0.15

0.20

－ 63 －

４．iシェアーズ 世界国債 UCITS ETF

As at 30 June 2017

Holding

Investment

Fair value$'000% of net
asset
value

Holding

Bonds (30 June 2016: 99.07%) (cont)865,000
1,330,000
1,158,000
1,010,000

Italy Buoni Poliennali Del Tesoro 4.5%
01/02/2020
Italy Buoni Poliennali Del Tesoro 4.5%
01/05/2023
Italy Buoni Poliennali Del Tesoro 4.5%
01/03/2024% of net
asset
value

Government bonds: A+ rating (cont)

Government bonds: BBB- rating (cont)
Italy Buoni Poliennali Del Tesoro 4.5%
01/03/2019

Fair value$'000

Japan (30 June 2016: 28.82%) (cont)

Italy (30 June 2016: 8.49%) (cont)810,000

Investment

995
1,097
1,798
1,573

0.11
0.12
0.20
0.17

190,000,000

Japan Government Five Year Bond
0.1% 20/03/2020

1,700

0.18

196,000,000

Japan Government Five Year Bond
0.1% 20/06/2020

1,754

0.19

Japan Government Five Year Bond
0.1% 20/09/2020

1,746

0.19

Japan Government Five Year Bond
0.1% 20/12/2020

1,254

0.14

Japan Government Five Year Bond
0.1% 20/03/2021

1,299

0.14

195,000,000
140,000,000
145,000,000

Italy Buoni Poliennali Del Tesoro 4.5%
01/03/2026

1,390

0.15

188,000,000

Japan Government Five Year Bond
0.1% 20/06/2021

1,685

0.18

1,775,000

Italy Buoni Poliennali Del Tesoro 4.75%
01/09/2021

2,369

0.26

220,000,000

Japan Government Five Year Bond
0.1% 20/09/2021

1,973

0.21

1,490,000

Italy Buoni Poliennali Del Tesoro 4.75%
01/08/2023

Japan Government Five Year Bond
0.1% 20/12/2021

1,346

0.15

945,000

Italy Buoni Poliennali Del Tesoro 4.75%
01/09/2028

Japan Government Five Year Bond
0.1% 20/03/2022

1,122

0.12

970,000

Italy Buoni Poliennali Del Tesoro 4.75%
01/09/2044

Japan Government Five Year Bond
0.2% 20/09/2018

624

0.07

Japan Government Five Year Bond
0.2% 20/12/2018

107

0.01

2,048
1,333
1,399

0.22
0.15
0.15

150,000,000
125,000,000
69,800,000

1,030,000

Italy Buoni Poliennali Del Tesoro 5%
01/03/2022

1,135,000

Italy Buoni Poliennali Del Tesoro 5%
01/03/2025

1,599

0.17

159,000,000

Japan Government Five Year Bond
0.2% 20/03/2019

1,423

0.15

1,300,000

Italy Buoni Poliennali Del Tesoro 5%
01/08/2034

1,931

0.21

138,000,000

Japan Government Five Year Bond
0.2% 20/06/2019

1,236

0.13

Japan Government Five Year Bond
0.2% 20/09/2019

1,559

0.17

Japan Government Five Year Bond
0.3% 20/06/2018

1,117

0.12

Japan Government Five Year Bond
0.3% 20/09/2018

268

0.03

Japan Government Five Year Bond
0.4% 20/06/2018

894

0.10

1,087,000
1,125,000
1,145,000
942,000

Italy Buoni Poliennali Del Tesoro 5%
01/08/2039
Italy Buoni Poliennali Del Tesoro 5%
01/09/2040
Italy Buoni Poliennali Del Tesoro 5.25%
01/11/2029
Italy Buoni Poliennali Del Tesoro 5.5%
01/09/2022

1,399

1,622
1,663
1,699
1,318

0.15

0.18
0.18
0.18
0.14

12,000,000

174,000,000
125,000,000
30,000,000
100,000,000

921,000

Italy Buoni Poliennali Del Tesoro 5.5%
01/11/2022

1,292

0.14

99,500,000

Japan Government Forty Year Bond
0.4% 20/03/2056

716

0.08

930,000

Italy Buoni Poliennali Del Tesoro 5.75%
01/02/2033

1,474

0.16

61,000,000

Japan Government Forty Year Bond
1.4% 20/03/2055

614

0.07

1,360,000

Italy Buoni Poliennali Del Tesoro 6%
01/05/2031

2,174

0.24

47,000,000

Japan Government Forty Year Bond
1.7% 20/03/2054

513

0.06

1,160,000

Italy Buoni Poliennali Del Tesoro 6.5%
01/11/2027

1,847

0.20

76,000,000

Japan Government Forty Year Bond
1.9% 20/03/2053

870

0.09

450,000

Italy Buoni Poliennali Del Tesoro 7.25%
01/11/2026

675,000

Italy Buoni Poliennali Del Tesoro 9%
01/11/2023
Total Italy

743

0.08

92,300,000

Japan Government Forty Year Bond
2% 20/03/2052

1,079

0.12

1,126

0.12

61,500,000

Japan Government Forty Year Bond
2.2% 20/03/2049

747

0.08

82,9459.01
33,800,000

Japan Government Forty Year Bond
2.2% 20/03/2050

412

0.04

95,400,000

Japan Government Forty Year Bond
2.2% 20/03/2051

1,165

0.13

Japan (30 June 2016: 28.82%)
Government bonds: A+ rating
82,000,000

Japan Government Five Year Bond
0.1% 20/06/2019

139,400,000

Japan Government Five Year Bond
0.1% 20/09/2019

1,246

0.14

Japan Government Five Year Bond
0.1% 20/12/2019

1,422

0.15

159,000,000

733

26,500,000

Japan Government Forty Year Bond
2.4% 20/03/2048

333

0.04

85,000,000

Japan Government Ten Year Bond
0.1% 20/03/2026

760

0.08

Japan Government Ten Year Bond
0.1% 20/06/2026

698

0.08

0.08

78,000,000－ 64 －

４．iシェアーズ 世界国債 UCITS ETF

As at 30 June 2017

Holding

Investment

Fair value$'000% of net
asset
value

Holding

Bonds (30 June 2016: 99.07%) (cont)% of net
asset
value

Government bonds: A+ rating (cont)

Government bonds: A+ rating (cont)Japan Government Ten Year Bond
0.1% 20/09/2026

Fair value$'000

Japan (30 June 2016: 28.82%) (cont)Japan (30 June 2016: 28.82%) (cont)114,000,000

Investment

1,019

0.11

94,600,000

Japan Government Ten Year Bond
1.1% 20/06/2020

872

0.09

102,000,000

Japan Government Ten Year Bond
1.1% 20/03/2021

948

0.10

195,000,000

Japan Government Ten Year Bond
0.1% 20/12/2026

1,741

0.19

90,000,000

Japan Government Ten Year Bond
1.1% 20/06/2021

838

0.09

151,000,000

Japan Government Ten Year Bond
0.1% 20/03/2027

1,348

0.15

139,000,000

Japan Government Ten Year Bond
1.1% 20/09/2021

1,299

0.14

819

0.09

96,400,000

Japan Government Ten Year Bond
1.1% 20/12/2021

903

0.10

Japan Government Ten Year Bond
1.2% 20/12/2020

2,696

0.29

90,000,000

Japan Government Ten Year Bond
0.3% 20/12/2024

120,000,000

Japan Government Ten Year Bond
0.3% 20/12/2025

95,000,000

Japan Government Ten Year Bond
0.4% 20/03/2025

129,000,000

Japan Government Ten Year Bond
0.4% 20/06/2025

80,000,000

Japan Government Ten Year Bond
0.4% 20/09/2025

62,500,000

Japan Government Ten Year Bond
0.5% 20/09/2024

85,000,000

Japan Government Ten Year Bond
0.5% 20/12/2024

120,850,000

Japan Government Ten Year Bond
0.6% 20/03/2023

60,000,000

Japan Government Ten Year Bond
0.6% 20/09/2023

1,092
871
1,183
734
577
785
1,115
555

0.12

290,000,000

0.09

145,300,000

Japan Government Ten Year Bond
1.2% 20/06/2021

1,359

0.15

0.13

164,000,000

Japan Government Ten Year Bond
1.3% 20/12/2018

1,490

0.16

Japan Government Ten Year Bond
1.3% 20/03/2019

1,686

0.18

Japan Government Ten Year Bond
1.3% 20/09/2019

1,285

0.14

Japan Government Ten Year Bond
1.3% 20/12/2019

1,795

0.19

Japan Government Ten Year Bond
1.3% 20/03/2020

527

0.06

Japan Government Ten Year Bond
1.3% 20/06/2020

788

0.09

0.08
0.06
0.09
0.12
0.06

185,000,000
140,000,000
195,000,000
57,000,000
85,000,000

173,000,000

Japan Government Ten Year Bond
0.6% 20/12/2023

1,602

0.17

244,900,000

Japan Government Ten Year Bond
1.3% 20/03/2021

2,292

0.25

169,000,000

Japan Government Ten Year Bond
0.6% 20/03/2024

1,568

0.17

155,000,000

Japan Government Ten Year Bond
1.4% 20/12/2018

1,410

0.15

Japan Government Ten Year Bond
1.4% 20/06/2019

1,283

0.14

Japan Government Ten Year Bond
1.4% 20/09/2019

1,517

0.16

Japan Government Ten Year Bond
1.4% 20/03/2020

1,250

0.14

Japan Government Ten Year Bond
1.5% 20/06/2018

1,139

0.12

Japan Government Ten Year Bond
1.5% 20/09/2018

1,516

0.16

Japan Government Ten Year Bond
1.5% 20/03/2019

1,134

0.12
0.14

112,000,000
126,000,000
76,000,000
212,000,000
314,900,000
245,000,000
184,000,000

Japan Government Ten Year Bond
0.6% 20/06/2024
Japan Government Ten Year Bond
0.7% 20/12/2022
Japan Government Ten Year Bond
0.8% 20/09/2020
Japan Government Ten Year Bond
0.8% 20/06/2022
Japan Government Ten Year Bond
0.8% 20/09/2022
Japan Government Ten Year Bond
0.8% 20/12/2022

1,040
1,167
696
1,968
2,927
2,282

0.11
0.13
0.08
0.21
0.32
0.25

140,000,000
165,000,000
135,000,000
126,000,000
167,000,000
124,000,000

Japan Government Ten Year Bond
0.8% 20/06/2023

1,720

0.19

140,000,000

Japan Government Ten Year Bond
1.5% 20/06/2019

1,285

105,000,000

Japan Government Ten Year Bond
0.8% 20/09/2023

983

0.11

45,000,000

Japan Government Ten Year Bond
1.7% 20/06/2018

408

0.04

75,000,000

Japan Government Ten Year Bond
0.9% 20/03/2022

Japan Government Ten Year Bond
1.8% 20/06/2018

1,110

0.12

84,000,000

Japan Government Ten Year Bond
0.9% 20/06/2022

98,750,000

Japan Government Ten Year Bond 1%
20/09/2020

698
784
910

0.08

122,500,000

0.08

76,000,000

Japan Government Thirty Year Bond
0.3% 20/06/2046

586

0.06

0.10

75,000,000

Japan Government Thirty Year Bond
0.5% 20/09/2046

611

0.07

220,750,000

Japan Government Ten Year Bond 1%
20/09/2021

2,054

0.22

75,000,000

Japan Government Thirty Year Bond
0.6% 20/12/2046

627

0.07

232,000,000

Japan Government Ten Year Bond 1%
20/12/2021

2,164

0.23

73,000,000

Japan Government Thirty Year Bond
0.8% 20/03/2046

647

0.07

225,000,000

Japan Government Ten Year Bond 1%
20/03/2022

2,104

0.23

－ 65 －

４．iシェアーズ 世界国債 UCITS ETF

As at 30 June 2017

Holding

Investment

Fair value$'000% of net
asset
value

Holding

Bonds (30 June 2016: 99.07%) (cont)36,000,000
37,500,000

Japan Government Thirty Year Bond
1.1% 20/03/2033
Japan Government Thirty Year Bond
1.4% 20/09/2045% of net
asset
value

Government bonds: A+ rating (cont)

Government bonds: A+ rating (cont)Japan Government Thirty Year Bond
0.8% 20/03/2047

Fair value$'000

Japan (30 June 2016: 28.82%) (cont)Japan (30 June 2016: 28.82%) (cont)115,000,000

Investment

1,014
357
384

0.11
0.04
0.04

145,000,000

Japan Government Thirty Year Bond
2.3% 20/03/2039

1,718

0.19

191,100,000

Japan Government Thirty Year Bond
2.3% 20/03/2040

2,279

0.25

Japan Government Thirty Year Bond
2.4% 20/03/2034

898

0.10

Japan Government Thirty Year Bond
2.4% 20/12/2034

361

0.04

76,500,000
30,600,000

43,000,000

Japan Government Thirty Year Bond
1.4% 20/12/2045

440

0.05

87,200,000

Japan Government Thirty Year Bond
2.4% 20/03/2037

1,038

0.11

101,700,000

Japan Government Thirty Year Bond
1.5% 20/12/2044

1,063

0.12

121,500,000

Japan Government Thirty Year Bond
2.4% 20/09/2038

1,457

0.16

82,500,000

Japan Government Thirty Year Bond
1.5% 20/03/2045

863

0.09

45,000,000

Japan Government Thirty Year Bond
2.5% 20/06/2034

535

0.06

55,200,000

Japan Government Thirty Year Bond
1.6% 20/06/2045

Japan Government Thirty Year Bond
2.5% 20/09/2034

1,013

0.11

72,600,000

Japan Government Thirty Year Bond
1.7% 20/12/2043

89,600,000

Japan Government Thirty Year Bond
1.7% 20/03/2044

589
790
975

0.06

85,000,000

0.09

62,600,000

Japan Government Thirty Year Bond
2.5% 20/09/2035

750

0.08

0.11

50,000,000

Japan Government Thirty Year Bond
2.5% 20/03/2036

600

0.06

63,500,000

Japan Government Thirty Year Bond
1.7% 20/06/2044

691

0.07

15,500,000

Japan Government Thirty Year Bond
2.5% 20/06/2036

186

0.02

67,500,000

Japan Government Thirty Year Bond
1.7% 20/09/2044

735

0.08

60,000,000

Japan Government Thirty Year Bond
2.5% 20/09/2036

722

0.08

20,000,000

Japan Government Thirty Year Bond
1.8% 22/11/2032

217

0.02

81,500,000

Japan Government Thirty Year Bond
2.5% 20/09/2037

985

0.11

118,000,000

Japan Government Thirty Year Bond
1.8% 20/03/2043

1,306

0.14

117,500,000

Japan Government Thirty Year Bond
2.5% 20/03/2038

1,425

0.15

76,150,000

Japan Government Thirty Year Bond
1.8% 20/09/2043

844

0.09

126,000,000

Japan Government Twenty Year Bond
0.2% 20/06/2036

1,053

0.11

180,500,000

Japan Government Thirty Year Bond
1.9% 20/09/2042

2,033

0.22

119,000,000

Japan Government Twenty Year Bond
0.4% 20/03/2036

1,036

0.11

Japan Government Twenty Year Bond
0.5% 20/09/2036

1,410

0.15

Japan Government Twenty Year Bond
0.6% 20/12/2036

1,343

0.15

Japan Government Twenty Year Bond
0.7% 20/03/2037

1,365

0.15

Japan Government Twenty Year Bond
0.8% 20/06/2023

140

0.02

Japan Government Twenty Year Bond
1% 20/03/2023

94

0.01

Japan Government Twenty Year Bond
1% 20/12/2035

1,352

0.15

1,062

0.12

70,300,000
60,000,000
134,500,000
137,600,000
144,500,000
47,400,000

Japan Government Thirty Year Bond
1.9% 20/06/2043
Japan Government Thirty Year Bond
2% 20/12/2033
Japan Government Thirty Year Bond
2% 20/09/2040
Japan Government Thirty Year Bond
2% 20/09/2041
Japan Government Thirty Year Bond
2% 20/03/2042
Japan Government Thirty Year Bond
2.1% 20/09/2033

793
670
1,532
1,572
1,654
535

0.09
0.07
0.17
0.17
0.18
0.06

160,000,000
150,000,000
150,000,000
15,000,000
10,000,000
140,000,000

110,800,000

Japan Government Thirty Year Bond
2.2% 20/09/2039

1,297

0.14

106,200,000

Japan Government Twenty Year Bond
1.2% 20/12/2034

139,050,000

Japan Government Thirty Year Bond
2.2% 20/03/2041

1,640

0.18

119,500,000

Japan Government Twenty Year Bond
1.2% 20/03/2035

1,194

0.13

20,000,000

Japan Government Thirty Year Bond
2.3% 20/05/2032

229

0.02

110,000,000

Japan Government Twenty Year Bond
1.2% 20/09/2035

1,098

0.12

46,950,000

Japan Government Thirty Year Bond
2.3% 20/03/2035

547

0.06

95,000,000

Japan Government Twenty Year Bond
1.3% 20/06/2035

963

0.10

45,000,000

Japan Government Thirty Year Bond
2.3% 20/06/2035

525

0.06

127,000,000

Japan Government Twenty Year Bond
1.4% 20/09/2034

1,308

0.14

32,000,000

Japan Government Thirty Year Bond
2.3% 20/12/2035

374

0.04

44,000,000

Japan Government Twenty Year Bond
1.5% 20/06/2032

459

0.05

50,700,000

Japan Government Thirty Year Bond
2.3% 20/12/2036

594

0.06

97,500,000

Japan Government Twenty Year Bond
1.5% 20/03/2033

1,019

0.11

－ 66 －

４．iシェアーズ 世界国債 UCITS ETF

As at 30 June 2017

Holding

Investment

Fair value$'000% of net
asset
value

Holding

Bonds (30 June 2016: 99.07%) (cont)148,000,000

Japan Government Twenty Year Bond
1.5% 20/06/2034% of net
asset
value

0.08

Government bonds: A+ rating (cont)

Government bonds: A+ rating (cont)Japan Government Twenty Year Bond
1.5% 20/03/2034

Fair value$'000

Japan (30 June 2016: 28.82%) (cont)Japan (30 June 2016: 28.82%) (cont)84,000,000

Investment

878
1,546

0.10
0.17

68,000,000

Japan Government Twenty Year Bond
1.9% 20/03/2025

694

46,000,000

Japan Government Twenty Year Bond
1.9% 20/06/2025

471

0.05

Japan Government Twenty Year Bond
1.9% 20/12/2028

618

0.07

58,000,000

71,000,000

Japan Government Twenty Year Bond
1.6% 20/06/2030

743

0.08

48,000,000

Japan Government Twenty Year Bond
1.9% 20/03/2029

513

0.06

47,000,000

Japan Government Twenty Year Bond
1.6% 20/03/2032

496

0.05

80,000,000

Japan Government Twenty Year Bond
1.9% 20/09/2030

866

0.09

49,000,000

Japan Government Twenty Year Bond
1.6% 20/06/2032

517

0.06

80,000,000

Japan Government Twenty Year Bond
1.9% 20/03/2031

869

0.09

83,000,000

Japan Government Twenty Year Bond
1.6% 20/03/2033

878

0.10

115,000,000

Japan Government Twenty Year Bond
1.9% 20/06/2031

1,252

0.14
0.05

79,000,000

Japan Government Twenty Year Bond
1.6% 20/12/2033

837

0.09

48,000,000

Japan Government Twenty Year Bond
2% 21/06/2021

462

35,000,000

Japan Government Twenty Year Bond
1.7% 20/12/2022

341

0.04

3,000,000

Japan Government Twenty Year Bond
2% 21/03/2022

29—

74,000,000

Japan Government Twenty Year Bond
1.7% 20/09/2031

Japan Government Twenty Year Bond
2% 20/06/2022

147

0.02

119,500,000

Japan Government Twenty Year Bond
1.7% 20/12/2031

1,274

0.14

70,000,000

Japan Government Twenty Year Bond
2% 20/12/2024

716

0.08

44,000,000

Japan Government Twenty Year Bond
1.7% 20/03/2032

470

0.05

24,100,000

Japan Government Twenty Year Bond
2% 20/03/2025

247

0.03

Japan Government Twenty Year Bond
2% 20/06/2025

247

0.03

Japan Government Twenty Year Bond
2% 20/09/2025

331

0.04

Japan Government Twenty Year Bond
2% 20/12/2025

540

0.06

33,000,000
172,900,000
133,900,000

Japan Government Twenty Year Bond
1.7% 20/06/2032
Japan Government Twenty Year Bond
1.7% 20/09/2032
Japan Government Twenty Year Bond
1.7% 20/12/2032

789

353
1,850
1,434

0.09

0.04
0.20
0.16

15,000,000

24,000,000
32,000,000
52,000,000

112,000,000

Japan Government Twenty Year Bond
1.7% 20/06/2033

1,201

0.13

90,000,000

Japan Government Twenty Year Bond
2% 20/03/2027

950

0.10

118,000,000

Japan Government Twenty Year Bond
1.7% 20/09/2033

1,266

0.14

86,000,000

Japan Government Twenty Year Bond
2% 20/06/2030

939

0.10

Japan Government Twenty Year Bond
2% 20/12/2030

625

0.07

Japan Government Twenty Year Bond
2% 20/03/2031

698

0.08

Japan Government Twenty Year Bond
2.1% 22/03/2021

135

0.01

549

0.06

55,000,000
57,000,000
57,000,000

Japan Government Twenty Year Bond
1.8% 20/06/2030
Japan Government Twenty Year Bond
1.8% 20/09/2030
Japan Government Twenty Year Bond
1.8% 20/06/2031

588
611
614

0.06
0.07
0.07

57,000,000
63,500,000
14,000,000

128,000,000

Japan Government Twenty Year Bond
1.8% 20/09/2031

1,380

0.15

54,000,000

Japan Government Twenty Year Bond
2.1% 20/03/2024

94,000,000

Japan Government Twenty Year Bond
1.8% 20/12/2031

1,014

0.11

61,000,000

Japan Government Twenty Year Bond
2.1% 20/09/2024

625

0.07

121,650,000

Japan Government Twenty Year Bond
1.8% 20/03/2032

1,314

0.14

15,000,000

Japan Government Twenty Year Bond
2.1% 20/03/2025

155

0.02

61,500,000

Japan Government Twenty Year Bond
1.8% 20/12/2032

667

0.07

47,000,000

Japan Government Twenty Year Bond
2.1% 20/06/2025

488

0.05

92,000,000

Japan Government Twenty Year Bond
1.9% 20/06/2022

899

0.10

70,000,000

Japan Government Twenty Year Bond
2.1% 20/09/2025

729

0.08

142,000,000

Japan Government Twenty Year Bond
1.9% 20/09/2022

1,393

0.15

35,000,000

Japan Government Twenty Year Bond
2.1% 20/12/2025

366

0.04

52,500,000

Japan Government Twenty Year Bond
1.9% 20/09/2023

524

0.06

95,000,000

Japan Government Twenty Year Bond
2.1% 20/03/2026

997

0.11

15,000,000

Japan Government Twenty Year Bond
1.9% 20/12/2023

150

0.02

64,000,000

Japan Government Twenty Year Bond
2.1% 20/12/2026

679

0.07

62,000,000

Japan Government Twenty Year Bond
1.9% 20/03/2024

623

0.07

55,000,000

Japan Government Twenty Year Bond
2.1% 20/03/2027

585

0.06

－ 67 －

４．iシェアーズ 世界国債 UCITS ETF

As at 30 June 2017

Holding

Investment

Fair value$'000% of net
asset
value

Holding

Bonds (30 June 2016: 99.07%) (cont)76,000,000

Japan Government Twenty Year Bond
2.1% 20/09/2027% of net
asset
value

0.05

Government bonds: A+ rating (cont)

Government bonds: A+ rating (cont)Japan Government Twenty Year Bond
2.1% 20/06/2027

Fair value$'000

Japan (30 June 2016: 28.82%) (cont)Japan (30 June 2016: 28.82%) (cont)55,000,000

Investment

587
814

0.06
0.09

40,000,000

Japan Government Twenty Year Bond
2.3% 20/09/2026

429

59,000,000

Japan Government Twenty Year Bond
2.3% 20/06/2027

640

0.07

Japan Government Twenty Year Bond
2.3% 20/06/2028

99

0.01

9,000,000

90,000,000

Japan Government Twenty Year Bond
2.1% 20/12/2027

966

0.10

37,000,000

Japan Government Twenty Year Bond
2.4% 20/06/2024

385

0.04

72,000,000

Japan Government Twenty Year Bond
2.1% 20/06/2028

778

0.08

20,000,000

Japan Government Twenty Year Bond
2.4% 20/03/2028

221

0.02

88,500,000

Japan Government Twenty Year Bond
2.1% 20/09/2028

959

0.10

62,500,000

Japan Government Twenty Year Bond
2.4% 20/06/2028

693

0.08

76,000,000

Japan Government Twenty Year Bond
2.1% 20/12/2028

826

0.09

125,000,000

Japan Government Twenty Year Bond
2.6% 20/03/2019

1,164

0.13

62,000,000

Japan Government Twenty Year Bond
2.1% 20/03/2029

676

0.07

12,000,000

83,650,000

Japan Government Twenty Year Bond
2.1% 20/06/2029

914

0.10

161,900,000

Japan Government Twenty Year Bond
2.9% 20/09/2019
Japan Government Two Year Bond
0.1% 15/08/2018

114

0.01

1,444

0.16

88,000,000

Japan Government Twenty Year Bond
2.1% 20/09/2029

964

0.10

100,000,000

Japan Government Two Year Bond
0.1% 15/09/2018

892

0.10

35,050,000

Japan Government Twenty Year Bond
2.1% 20/12/2029

385

0.04

20,000,000

Japan Government Two Year Bond
0.1% 15/10/2018

178

0.02

103,000,000

Japan Government Twenty Year Bond
2.1% 20/03/2030

1,133

0.12

60,000,000

Japan Government Two Year Bond
0.1% 15/11/2018

536

0.06

115,000,000

Japan Government Twenty Year Bond
2.1% 20/12/2030

1,275

0.14

110,000,000

Japan Government Two Year Bond
0.1% 15/12/2018

982

0.11

25,000,000

Japan Government Twenty Year Bond
2.2% 22/06/2020

238

0.03

75,000,000

Japan Government Two Year Bond
0.1% 15/02/2019

670

0.07

10,000,000

Japan Government Twenty Year Bond
2.2% 21/09/2020

96

0.01

125,000,000

Japan Government Two Year Bond
0.1% 15/03/2019

1,117

0.12

40,000,000

Japan Government Twenty Year Bond
2.2% 20/03/2024

409

0.04

26,000,000

Japan Government Twenty Year Bond
2.2% 20/06/2024

267

0.03

24,000,000

Japan Government Twenty Year Bond
2.2% 20/03/2026

254

0.03

15,000,000

Japan Government Twenty Year Bond
2.2% 20/06/2026

159

0.02

45,000,000

Japan Government Twenty Year Bond
2.2% 20/09/2026

479

0.05

Japan Government Twenty Year Bond
2.2% 20/09/2027

605

0.07

89,000,000

Japan Government Twenty Year Bond
2.2% 20/03/2028

967

0.10

Japan Government Twenty Year Bond
2.2% 20/09/2028

Total Japan

383

Japan Government Twenty Year Bond
2.2% 20/06/2029

143

0.02

43,000,000

Japan Government Twenty Year Bond
2.2% 20/12/2029

477

0.05

138,500,000

Japan Government Twenty Year Bond
2.2% 20/03/2030

1,539

0.17

95,100,000

Japan Government Twenty Year Bond
2.2% 20/03/2031

1,067

0.12

82,000,000

Japan Government Twenty Year Bond
2.3% 20/06/2026

0.22
24.63

United Kingdom (30 June 2016: 6.85%)

United Kingdom Gilt 0.5% 22/07/2022

1,480

0.16

1,656,000

United Kingdom Gilt 1.25%
22/07/2018^

2,172

0.24

195,000

United Kingdom Gilt 1.25% 22/07/2027

251

0.03

1,305,000

United Kingdom Gilt 1.5% 22/01/2021

1,757

0.19

1,025,000

United Kingdom Gilt 1.5% 22/07/2026

1,368

0.15

640,000

United Kingdom Gilt 1.5% 22/07/2047

763

0.08

United Kingdom Gilt 1.75%
22/07/2019^

2,392

0.26

1,450,000

United Kingdom Gilt 1.75% 07/09/2022

1,987

0.22

300,000

United Kingdom Gilt 1.75% 07/09/2037

382

0.04

480,000

United Kingdom Gilt 1.75% 22/07/2057

627

0.07

0.04

13,000,000

Japan Government Twenty Year Bond
2.3% 20/03/2026

2,055
226,641

1,150,000

1,790,000

25,000,000

Japan Government Two Year Bond
0.1% 15/05/2019

Government bonds: AA rating

56,000,000

35,000,000

230,000,000

266
876

1,260,000

United Kingdom Gilt 2% 22/07/2020

1,715

0.19

1,430,000

United Kingdom Gilt 2% 07/09/2025^

1,996

0.22

740,000

United Kingdom Gilt 2.25% 07/09/2023

1,044

0.11

735,000

United Kingdom Gilt 2.5% 22/07/2065

1,209

0.13

905,000

United Kingdom Gilt 2.75% 07/09/2024

1,324

0.14

1,160,000

United Kingdom Gilt 3.25% 22/01/2044

1,926

0.21

0.03
0.09

－ 68 －

４．iシェアーズ 世界国債 UCITS ETF

As at 30 June 2017

Holding

Investment

Fair value$'000% of net
asset
value

Holding

Bonds (30 June 2016: 99.07%) (cont)% of net
asset
value

Government bonds: AA+ rating (cont)

Government bonds: AA rating (cont)1,255,000

United Kingdom Gilt 3.5% 22/01/2045

2,189

0.24

942,000

United Kingdom Gilt 3.5% 22/07/2068

1,982

0.22

710,000

United Kingdom Gilt 3.75% 07/09/2019

991

0.11

910,000

United Kingdom Gilt 3.75% 07/09/2020

1,308

0.14

807,000

United Kingdom Gilt 3.75% 07/09/2021

1,190

0.13

863,000

United Kingdom Gilt 3.75% 22/07/2052

1,692

0.18

1,500,000

United States Treasury Note/Bond0.875% 15/10/2018^

1,491

1,440,000

United States Treasury Note/Bond0.875% 15/04/2019^

1,428

0.15

United States Treasury Note/Bond0.875% 15/05/2019

1,189

0.13

1,400,000

United States Treasury Note/Bond0.875% 15/06/2019^

1,387

0.15

960,000

United States Treasury Note/Bond0.875% 31/07/2019

950

0.10

United States Treasury Note/Bond0.875% 15/09/2019

1,384

0.15

1,200,000

United Kingdom Gilt 4% 07/03/2022

Fair value$'000

United States (30 June 2016: 37.77%) (cont)

United Kingdom (30 June 2016: 6.85%) (cont)770,000

Investment

1,160

0.13

0.16

844,000

United Kingdom Gilt 4% 22/01/2060

1,854

0.20

800,000

United Kingdom Gilt 4.25% 07/12/2027

1,343

0.15

United Kingdom Gilt 4.25% 07/06/2032

1,516

0.16

2,290,000

United States Treasury Note/Bond 1%
31/05/2018

2,284

0.25

1,000,000

United States Treasury Note/Bond 1%
15/08/2018

997

0.11

1,400,000
865,000
1,485,000

United Kingdom Gilt 4.25%
07/03/2036^

2,684

0.29

750,000

United Kingdom Gilt 4.25% 07/09/2039

1,395

0.15

915,000

United Kingdom Gilt 4.25% 07/12/2040

1,724

0.19

895,000

United Kingdom Gilt 4.25%
07/12/2046^

1,784

0.19

735,000

United Kingdom Gilt 4.25% 07/12/2049

1,519

0.16

870,000

United Kingdom Gilt 4.25%
07/12/2055^

1,923

0.21

1,010,000

United Kingdom Gilt 4.5% 07/03/2019^

1,404

0.15

991,000

United Kingdom Gilt 4.5% 07/09/2034^

1,817

0.20

1,017,000

United Kingdom Gilt 4.5% 07/12/2042

2,021

0.22

900,000

United Kingdom Gilt 4.75% 07/03/2020

1,306

0.14

685,000

United Kingdom Gilt 4.75% 07/12/2030

1,241

0.13

730,000

United Kingdom Gilt 4.75% 07/12/2038

1,439

0.16

674,000

United Kingdom Gilt 5% 07/03/2025

1,137

0.12

570,000

United Kingdom Gilt 6% 07/12/2028^

705,000

United Kingdom Gilt 8% 07/06/2021
Total United Kingdom

1,106

0.12

1,186

0.13

61,304

6.66

United States (30 June 2016: 37.77%)

980,000

United States Treasury Note/Bond 1%
15/09/2018

976

0.11

1,620,000

United States Treasury Note/Bond 1%
30/11/2018

1,612

0.18

1,100,000

United States Treasury Note/Bond 1%
15/03/2019^

1,093

0.12

330,000

United States Treasury Note/Bond 1%
30/06/2019

328

0.04

1,850,000

United States Treasury Note/Bond 1%
31/08/2019

1,834

0.20

1,720,000

United States Treasury Note/Bond 1%
30/09/2019

1,704

0.19

800,000

United States Treasury Note/Bond 1%
15/10/2019

792

0.09

1,800,000

United States Treasury Note/Bond 1%
15/11/2019^

1,781

0.19

1,520,000

United States Treasury Note/Bond 1%
30/11/2019

1,504

0.16

2,050,000

United States Treasury Note/Bond
1.125% 15/06/2018^

2,047

0.22

1,200,000

United States Treasury Note/Bond
1.125% 15/01/2019^

1,196

0.13

1,000,000

United States Treasury Note/Bond
1.125% 31/01/2019

996

0.11

1,400,000

United States Treasury Note/Bond
1.125% 28/02/2019

1,395

0.15

250,000

United States Treasury Note/Bond
1.125% 31/05/2019

249

0.03

2,075,000

United States Treasury Note/Bond
1.125% 31/12/2019^

2,058

0.22

Government bonds: AA+ rating
2,000,000
2,000,000

United States Treasury Note/Bond0.625% 30/06/2018^

1,987

0.22

United States Treasury Note/Bond
0.75% 31/07/2018^

1,988

0.22

375,000

United States Treasury Note/Bond
0.75% 31/08/2018

373

0.04

2,500,000

United States Treasury Note/Bond
0.75% 30/09/2018^

2,483

0.27

United States Treasury Note/Bond
0.75% 31/10/2018

1,389

0.15

1,400,000
1,545,000

United States Treasury Note/Bond
0.75% 15/02/2019^

1,530

0.17

United States Treasury Note/Bond
0.75% 15/07/2019^

1,481

0.16

United States Treasury Note/Bond
0.75% 15/08/2019

1,440

0.16

1,000,000

United States Treasury Note/Bond0.875% 31/05/2018

996

0.11

1,200,000

United States Treasury Note/Bond0.875% 15/07/2018^

1,500,000
1,460,000

1,195

720,000

United States Treasury Note/Bond
1.125% 31/03/2020

713

0.08

1,475,000

United States Treasury Note/Bond
1.125% 30/04/2020^

1,459

0.16

1,700,000

United States Treasury Note/Bond
1.125% 28/02/2021

1,666

0.18

2,050,000

United States Treasury Note/Bond
1.125% 30/06/2021^

2,001

0.22

1,880,000

United States Treasury Note/Bond
1.125% 31/07/2021

1,833

0.20

1,670,000

United States Treasury Note/Bond
1.125% 31/08/2021^

1,626

0.18

0.13

－ 69 －

４．iシェアーズ 世界国債 UCITS ETF

As at 30 June 2017

Holding

Investment

Fair value$'000% of net
asset
value

Holding

Bonds (30 June 2016: 99.07%) (cont)1,500,000

United States Treasury Note/Bond
1.25% 31/10/2018^% of net
asset
value

Government bonds: AA+ rating (cont)

Government bonds: AA+ rating (cont)
United States Treasury Note/Bond
1.125% 30/09/2021^

Fair value$'000

United States (30 June 2016: 37.77%) (cont)

United States (30 June 2016: 37.77%) (cont)1,500,000

Investment

1,459
1,498

0.16
0.16

1,700,000

United States Treasury Note/Bond
1.375% 30/04/2020^

1,692

1,300,000

United States Treasury Note/Bond
1.375% 31/05/2020^

1,294

0.14

United States Treasury Note/Bond
1.375% 31/08/2020^

1,688

0.18

1,700,000

0.18

1,500,000

United States Treasury Note/Bond
1.25% 15/11/2018^

1,498

0.16

1,850,000

United States Treasury Note/Bond
1.375% 30/09/2020

1,836

0.20

1,060,000

United States Treasury Note/Bond
1.25% 30/11/2018

1,059

0.11

1,350,000

United States Treasury Note/Bond
1.375% 31/10/2020^

1,339

0.15

1,400,000

United States Treasury Note/Bond
1.25% 15/12/2018^

1,398

0.15

1,700,000

United States Treasury Note/Bond
1.375% 31/01/2021

1,682

0.18

640,000

United States Treasury Note/Bond
1.25% 31/12/2018

639

0.07

2,280,000

United States Treasury Note/Bond
1.375% 30/04/2021^

2,251

0.24

975,000

United States Treasury Note/Bond
1.25% 31/01/2019

973

0.11

1,140,000

United States Treasury Note/Bond
1.375% 31/05/2021

1,124

0.12

170,000

United States Treasury Note/Bond
1.25% 31/03/2019

170

0.02

1,650,000

United States Treasury Note/Bond
1.375% 30/06/2023

1,589

0.17

1,860,000

United States Treasury Note/Bond
1.25% 30/04/2019

1,856

0.20

1,400,000

United States Treasury Note/Bond
1.375% 31/08/2023

1,345

0.15

1,680,000

United States Treasury Note/Bond
1.25% 31/05/2019

1,676

0.18

1,500,000

United States Treasury Note/Bond
1.375% 30/09/2023^

1,440

0.16

480,000

United States Treasury Note/Bond
1.25% 31/10/2019

478

0.05

1,990,000

United States Treasury Note/Bond
1.5% 31/08/2018

1,994

0.22

2,100,000

United States Treasury Note/Bond
1.25% 31/01/2020^

2,087

0.23

1,660,000

United States Treasury Note/Bond
1.5% 31/12/2018^

1,664

0.18

1,550,000

United States Treasury Note/Bond
1.25% 29/02/2020^

1,540

0.17

1,430,000

United States Treasury Note/Bond
1.5% 31/01/2019^

1,433

0.16

1,500,000

United States Treasury Note/Bond
1.25% 31/03/2021^

1,475

0.16

1,600,000

United States Treasury Note/Bond
1.5% 28/02/2019

1,604

0.17

1,500,000

United States Treasury Note/Bond
1.25% 31/10/2021

1,466

0.16

750,000

United States Treasury Note/Bond
1.5% 31/03/2019^

752

0.08

1,500,000

United States Treasury Note/Bond
1.25% 31/07/2023^

1,432

0.16

1,400,000

United States Treasury Note/Bond
1.5% 31/05/2019

1,403

0.15

1,970,000

United States Treasury Note/Bond
1.375% 30/06/2018

1,972

0.21

1,630,000

United States Treasury Note/Bond
1.5% 31/10/2019^

1,632

0.18

1,050,000

United States Treasury Note/Bond
1.375% 31/07/2018

1,051

0.11

1,980,000

United States Treasury Note/Bond
1.5% 30/11/2019^

1,982

0.22

United States Treasury Note/Bond
1.5% 15/04/2020^

1,499

0.16

United States Treasury Note/Bond
1.5% 15/05/2020

1,439

0.16

2,330,000
375,000

United States Treasury Note/Bond
1.375% 30/09/2018^
United States Treasury Note/Bond
1.375% 30/11/2018

2,332
375

0.25
0.04

1,500,000
1,440,000

390,000

United States Treasury Note/Bond
1.375% 31/12/2018

390

0.04

1,675,000

United States Treasury Note/Bond
1.5% 31/05/2020

1,673

0.18

750,000

United States Treasury Note/Bond
1.375% 28/02/2019

750

0.08

1,800,000

United States Treasury Note/Bond
1.5% 31/01/2022

1,773

0.19

1,500,000

United States Treasury Note/Bond
1.375% 15/12/2019

1,497

0.16

1,400,000

United States Treasury Note/Bond
1.5% 28/02/2023

1,363

0.15

38,000

United States Treasury Note/Bond
1.375% 15/01/2020

38

0.00

1,480,000

United States Treasury Note/Bond
1.5% 31/03/2023

1,439

0.16
0.33

900,000

United States Treasury Note/Bond
1.375% 31/01/2020

898

0.10

3,250,000

United States Treasury Note/Bond
1.5% 15/08/2026^

3,041

900,000

United States Treasury Note/Bond
1.375% 15/02/2020

897

0.10

1,830,000

United States Treasury Note/Bond1.625% 31/03/2019^

1,838

0.20

United States Treasury Note/Bond1.625% 30/04/2019^

1,406

0.15

United States Treasury Note/Bond1.625% 30/06/2019^

2,462

0.27

1,570,000

United States Treasury Note/Bond
1.375% 29/02/2020^

2,670,000

United States Treasury Note/Bond
1.375% 31/03/2020

1,565
2,660

0.17
0.29

1,400,000
2,450,000－ 70 －

４．iシェアーズ 世界国債 UCITS ETF

As at 30 June 2017

Holding

Investment

Fair value$'000% of net
asset
value

Holding

Government bonds: AA+ rating (cont)1,725,000

United States Treasury Note/Bond1.625% 31/08/2019^

3,250,000

United States Treasury Note/Bond1.625% 31/12/2019

3,470,000

United States Treasury Note/Bond1.625% 15/03/2020

1,585,000

United States Treasury Note/Bond1.625% 30/06/2020

1,520,000

United States Treasury Note/Bond1.625% 31/07/2020^% of net
asset
value

Government bonds: AA+ rating (cont)

United States (30 June 2016: 37.77%) (cont)

United States Treasury Note/Bond1.625% 31/07/2019^

Fair value$'000

United States (30 June 2016: 37.77%) (cont)Bonds (30 June 2016: 99.07%) (cont)1,950,000

Investment

1,959
1,733
3,263
3,481
1,588
1,522

0.21
0.19

1,300,000

United States Treasury Note/Bond1.875% 30/11/2021

1,303

1,760,000

United States Treasury Note/Bond1.875% 28/02/2022

1,762

0.19

United States Treasury Note/Bond1.875% 31/03/2022

1,081

0.12

1,080,000

0.14

0.35

2,500,000

United States Treasury Note/Bond1.875% 30/04/2022

2,500

0.27

0.38

1,520,000

United States Treasury Note/Bond1.875% 31/05/2022

1,520

0.17

0.17

1,450,000

United States Treasury Note/Bond1.875% 31/08/2022

1,447

0.16

0.17

1,200,000

United States Treasury Note/Bond1.875% 31/10/2022

1,196

0.13

2,000,000

United States Treasury Note/Bond1.625% 30/11/2020^

1,999

0.22

890,000

United States Treasury Note/Bond 2%
31/07/2020

901

0.10

1,105,000

United States Treasury Note/Bond1.625% 15/08/2022

1,090

0.12

900,000

United States Treasury Note/Bond 2%
30/09/2020^

911

0.10

3,205,000

United States Treasury Note/Bond1.625% 15/11/2022^

3,152

0.34

1,860,000

United States Treasury Note/Bond 2%
30/11/2020^

1,882

0.20

1,760,000

United States Treasury Note/Bond1.625% 30/04/2023^

1,723

0.19

1,370,000

United States Treasury Note/Bond 2%
28/02/2021^

1,385

0.15

United States Treasury Note/Bond 2%
31/05/2021^

1,263

0.14

United States Treasury Note/Bond 2%
31/08/2021^

1,907

0.21

United States Treasury Note/Bond 2%
31/10/2021

1,784

0.19

United States Treasury Note/Bond 2%
15/11/2021^

2,577

0.28

1,710,000
1,100,000
3,000,000
3,400,000

United States Treasury Note/Bond1.625% 31/05/2023
United States Treasury Note/Bond1.625% 31/10/2023
United States Treasury Note/Bond1.625% 15/02/2026^
United States Treasury Note/Bond1.625% 15/05/2026^

1,672
1,072
2,852
3,224

0.18
0.12
0.31
0.35

1,250,000
1,890,000
1,770,000
2,556,000

205,000

United States Treasury Note/Bond
1.75% 31/10/2018

206

0.02

1,400,000

United States Treasury Note/Bond 2%
31/12/2021

1,410

0.15

1,750,000

United States Treasury Note/Bond
1.75% 30/09/2019^

1,763

0.19

1,330,000

United States Treasury Note/Bond 2%
15/02/2022^

1,340

0.15
0.15

1,330,000

United States Treasury Note/Bond
1.75% 31/10/2020

1,336

0.14

1,360,000

United States Treasury Note/Bond 2%
31/07/2022^

1,366

1,150,000

United States Treasury Note/Bond
1.75% 31/12/2020^

1,153

0.13

1,400,000

United States Treasury Note/Bond 2%
30/11/2022

1,403

0.15

United States Treasury Note/Bond 2%
15/02/2023^

2,527

0.27

1,550,000

United States Treasury Note/Bond
1.75% 30/11/2021

1,200,000

United States Treasury Note/Bond
1.75% 28/02/2022

1,540,000

United States Treasury Note/Bond
1.75% 31/03/2022^

1,546

0.17

2,526,000

0.13

1,800,000

United States Treasury Note/Bond 2%
30/04/2024

1,787

0.19

1,532

0.17

3,830,000

United States Treasury Note/Bond 2%
15/02/2025^

3,779

0.41

1,292

0.14

3,360,000

United States Treasury Note/Bond 2%
15/08/2025^

3,303

0.36

United States Treasury Note/Bond 2%
15/11/2026^

3,502

0.38

976

0.11

1,195

1,300,000

United States Treasury Note/Bond
1.75% 30/04/2022^

1,860,000

United States Treasury Note/Bond
1.75% 15/05/2022

1,560,000

United States Treasury Note/Bond
1.75% 31/05/2022

1,300,000

United States Treasury Note/Bond
1.75% 30/09/2022

1,288

0.14

1,400,000

United States Treasury Note/Bond2.125% 31/01/2021^

1,422

0.15

3,900,000

United States Treasury Note/Bond
1.75% 31/01/2023

3,851

0.42

1,000,000

United States Treasury Note/Bond2.125% 30/06/2021

1,015

0.11

1,850
1,551

0.20

3,590,000
960,000

0.17

United States Treasury Note/Bond2.125% 31/08/2020

2,900,000

United States Treasury Note/Bond
1.75% 15/05/2023^

2,857

0.31

2,800,000

United States Treasury Note/Bond2.125% 15/08/2021^

2,839

0.31

2,360,000

United States Treasury Note/Bond1.875% 30/06/2020

2,382

0.26

1,200,000

United States Treasury Note/Bond2.125% 30/09/2021^

1,217

0.13

－ 71 －

４．iシェアーズ 世界国債 UCITS ETF

As at 30 June 2017

Holding

Investment

Fair value$'000% of net
asset
value

Holding

Bonds (30 June 2016: 99.07%) (cont)% of net
asset
value

Government bonds: AA+ rating (cont)

Government bonds: AA+ rating (cont)
United States Treasury Note/Bond2.125% 31/12/2021^

Fair value$'000

United States (30 June 2016: 37.77%) (cont)

United States (30 June 2016: 37.77%) (cont)1,600,000

Investment

1,621

0.18

760,000

United States Treasury Note/Bond
2.75% 15/02/2019^

777

0.08

2,575,000

United States Treasury Note/Bond
2.75% 15/11/2023^

2,681

0.29

2,535,000

United States Treasury Note/Bond2.125% 30/06/2022

2,562

0.28

2,905,000

United States Treasury Note/Bond
2.75% 15/02/2024^

3,023

0.33

1,610,000

United States Treasury Note/Bond2.125% 31/12/2022

1,623

0.18

1,195,000

United States Treasury Note/Bond
2.75% 15/08/2042

1,183

0.13

United States Treasury Note/Bond
2.75% 15/11/2042

1,508

0.16

1,200,000
720,000

United States Treasury Note/Bond2.125% 30/11/2023

1,204

0.13

1,525,000

United States Treasury Note/Bond2.125% 31/03/2024

721

0.08

2,230,000

United States Treasury Note/Bond2.875% 15/05/2043

2,252

0.24

3,680,000

United States Treasury Note/Bond2.125% 15/05/2025^

3,658

0.40

2,230,000

United States Treasury Note/Bond2.875% 15/08/2045^

2,243

0.24

280,000

United States Treasury Note/Bond
2.25% 31/07/2018

283

0.03

2,050,000

United States Treasury Note/Bond2.875% 15/11/2046^

2,063

0.22

1,110,000

United States Treasury Note/Bond
2.25% 31/03/2021^

1,132

0.12

855,000

United States Treasury Note/Bond 3%
15/05/2042

886

0.10

United States Treasury Note/Bond 3%
15/11/2044^

2,282

0.25

1,500,000

United States Treasury Note/Bond
2.25% 30/04/2021^

1,900,000

United States Treasury Note/Bond
2.25% 31/07/2021^

1,937

0.21

2,190,000

United States Treasury Note/Bond 3%
15/05/2045

2,258

0.25

1,000,000

United States Treasury Note/Bond
2.25% 31/12/2023^

1,010

0.11

2,205,000

United States Treasury Note/Bond 3%
15/11/2045^

2,273

0.25

1,529

0.17

2,210,000

1,500,000

United States Treasury Note/Bond
2.25% 31/01/2024

1,514

0.16

2,145,000

United States Treasury Note/Bond 3%
15/02/2047

2,214

0.24

3,625,000

United States Treasury Note/Bond
2.25% 15/11/2024^

3,646

0.40

700,000

United States Treasury Note/Bond 3%
15/05/2047

723

0.08

4,440,000

United States Treasury Note/Bond
2.25% 15/11/2025^

4,442

0.48

1,700,000

United States Treasury Note/Bond
3.125% 15/05/2019

1,755

0.19

3,340,000

United States Treasury Note/Bond
2.25% 15/02/2027^

3,326

0.36

1,540,000

United States Treasury Note/Bond
3.125% 15/05/2021^

1,620

0.18

2,200,000

United States Treasury Note/Bond
2.25% 15/08/2046^

1,938

0.21

1,014,000

United States Treasury Note/Bond
3.125% 15/11/2041^

1,074

0.12

500,000

United States Treasury Note/Bond2.375% 31/05/2018

505

0.05

1,005,000

United States Treasury Note/Bond
3.125% 15/02/2042

1,065

0.12

290,000

United States Treasury Note/Bond2.375% 30/06/2018

293

0.03

1,575,000

United States Treasury Note/Bond
3.125% 15/02/2043

1,665

0.18

1,350,000

United States Treasury Note/Bond2.375% 31/12/2020

1,383

0.15

2,225,000

United States Treasury Note/Bond
3.125% 15/08/2044^

2,352

0.26

4,095,000

United States Treasury Note/Bond2.375% 15/08/2024^

4,159

0.45

1,730,000

United States Treasury Note/Bond3.375% 15/11/2019

1,808

0.20

1,320,000

United States Treasury Note/Bond2.375% 15/05/2027

1,329

0.14

2,270,000

United States Treasury Note/Bond3.375% 15/05/2044^

2,509

0.27

1,899

0.21

1,920,000

United States Treasury Note/Bond
2.5% 15/08/2023^

1,971

0.21

1,800,000

United States Treasury Note/Bond
3.5% 15/05/2020^

3,653,000

United States Treasury Note/Bond
2.5% 15/05/2024^

3,742

0.41

520,000

United States Treasury Note/Bond
3.5% 15/02/2039

588

0.06

2,031

0.22

1,225,000

United States Treasury Note/Bond3.625% 15/08/2019

1,282

0.14

2,175,000

United States Treasury Note/Bond
2.5% 15/02/2045^

2,060,000

United States Treasury Note/Bond
2.5% 15/02/2046^

1,919

0.21

2,450,000

United States Treasury Note/Bond3.625% 15/02/2020^

2,584

0.28

2,020,000

United States Treasury Note/Bond
2.5% 15/05/2046

1,881

0.20

2,510,000

United States Treasury Note/Bond3.625% 15/02/2021

2,682

0.29

1,292,000

United States Treasury Note/Bond2.625% 15/08/2020

1,332

0.14

1,743,000

United States Treasury Note/Bond3.625% 15/08/2043

2,006

0.22

2,920,000

United States Treasury Note/Bond2.625% 15/11/2020^

3,013

0.33

2,285,000

United States Treasury Note/Bond3.625% 15/02/2044

2,634

0.29

－ 72 －

４．iシェアーズ 世界国債 UCITS ETF

As at 30 June 2017

Holding

Investment

Fair value$'000% of net
asset
value

Bonds (30 June 2016: 99.07%) (cont)

Fair value$'000% of net
asset
value

911,586

99.06

Cash

16,428

1.78

Other net liabilities(7,755)(0.84)Net asset value attributable toredeemable participating
shareholders at the end of thefinancial year

920,259

100.00Total value of investments

United States (30 June 2016: 37.77%) (cont)†

Government bonds: AA+ rating (cont)1,400,000
885,000

United States Treasury Note/Bond
3.75% 15/11/2018

1,445

0.16

United States Treasury Note/Bond
3.75% 15/08/2041

1,037

0.11

2,085,000

United States Treasury Note/Bond
3.75% 15/11/2043^

2,452

0.27

833,000

United States Treasury Note/Bond3.875% 15/08/2040

992

0.11
† Substantially all cash positions are held with State Street Bank and Trust Company.

690,000

United States Treasury Note/Bond 4%
15/08/2018

711

0.08

780,000

United States Treasury Note/Bond
4.25% 15/05/2039

977

0.11

1,145,000

United States Treasury Note/Bond
4.25% 15/11/2040

1,439

0.16

540,000

United States Treasury Note/Bond4.375% 15/02/2038

688

0.07

United States Treasury Note/Bond4.375% 15/11/2039

1,020

0.11

500,000

United States Treasury Note/Bond4.375% 15/05/2040^

638

0.07

715,000

United States Treasury Note/Bond4.375% 15/05/2041

917

0.10

864,000

United States Treasury Note/Bond
4.5% 15/02/2036

1,116

0.12

390,000

United States Treasury Note/Bond
4.5% 15/05/2038

505

0.05

United States Treasury Note/Bond
4.5% 15/08/2039

739

0.08

United States Treasury Note/Bond4.625% 15/02/2040

1,299

0.14

955,000

United States Treasury Note/Bond
4.75% 15/02/2041

1,286

0.14

395,000

United States Treasury Note/Bond 5%
15/05/2037

542

0.06

United States Treasury Note/Bond
5.25% 15/11/2028

412

0.04

800,000

570,000
985,000

320,000
386,000

United States Treasury Note/Bond
5.25% 15/02/2029

499

0.05

695,000

United States Treasury Note/Bond5.375% 15/02/2031

934

0.10

200,000

United States Treasury Note/Bond
5.5% 15/08/2028

262

0.03

600,000

United States Treasury Note/Bond 6%
15/02/2026

778

0.08

United States Treasury Note/Bond
6.125% 15/11/2027

405

0.04

275,000

United States Treasury Note/Bond
6.25% 15/08/2023

343

0.04

400,000

United States Treasury Note/Bond
6.25% 15/05/2030

570

0.06

180,000

United States Treasury Note/Bond 8%
15/11/2021

227

0.02

United States Treasury Note/Bond8.125% 15/08/2019

285

0.03

300,000

250,000
250,000

United States Treasury Note/Bond8.875% 15/02/2019

280

0.03

Total United States

375,469

40.80

Total bonds

911,586

99.06^ These securities are partially or fully transferred as securities lent.

－ 73 －

５．iシェアーズ J.P.モルガン・米ドル建てエマージング・マーケット債券 UCITS ETF■損益計算書For the financial year ended 31 October 2017
iShares J.P.
Morgan $ EM
Bond UCITS ETF
31 Oct 2017$’000

Interest income

380,065

Dividend income―

Securities lending income

2,151

Net gains/(losses) on financial assets/liabilities at fair value through profit or loss

66,203

Total gains/(losses)

448,419

Operating expenses(32,288)

Net operating profit/(loss)

416,131

Finance costs:
Distributions to redeemable participating shareholders(341,811)

Interest expense(2)

Total finance costs(341,813)

Net profit for the financial year before tax

74,318

Taxation―

Net profit/(loss) for the financial year after tax

74,318Adjustment to align to the valuation methodology as set out in the prospectus
Increase/(decrease) in net assets attributable to redeemable participating shareholders from operations
There are no recognised gains or losses arising in the financial year other than those dealt with in the income statement.
In arriving at the results of the financial year, all amounts relate to continuing operations.

－ 74 －―
74,318

５．iシェアーズ J.P.モルガン・米ドル建てエマージング・マーケット債券 UCITS ETF■組入銘柄

As at 31 October 2017

Ccy

Holding

Investment

Fair value$'000% of net
asset
value

Ccy

Holding

State Oil Co of the Azerbaijan
Republic 4.75% 13/03/2023

Angolan Government International
Bond 9.5% 12/11/2025^

30,3490.37

Total Angola

30,3490.37

USD 18,500,000

Republic of AzerbaijanInternational Bond 3.5%
01/09/2032

USD 23,714,000

Republic of AzerbaijanInternational Bond 4.75%
18/03/2024^

Argentina (31 October 2016: 3.91%)

Total Azerbaijan

Government Bonds
USD 45,431,210

Argentine Republic Government
International Bond 2.5%
31/12/2038

32,5970.40

USD 27,780,000

Argentine Republic Government
International Bond 5.625%
26/01/2022

29,1690.35

7,748,000

Argentine Republic Government
International Bond 6.625%
06/07/2028^

8,225

0.10

USD 37,504,000

Argentine Republic Government
International Bond 6.875%
22/04/2021

40,9360.50

USD 30,568,000

Argentine Republic Government
International Bond 6.875%
26/01/2027

33,334

0.40

Argentine Republic Government
International Bond 7.125%
06/07/2036^

15,8490.19

Argentine Republic Government
International Bond 7.125%
28/06/2117^

24,1900.29

USD 14,736,000

USD 23,600,000

USD 52,196,000

Argentine Republic Government
International Bond 7.5%
22/04/2026

USD 22,941,000

Argentine Republic Government
International Bond 7.625%
22/04/2046

USD 21,699,810

USD

USD

8,635,805

2,577,686

58,981

25,7280.71

0.31

35,474

0.43

Argentine Republic Government
International Bond 8.28%
31/12/2033

13,8790.17

Total Argentina

4,214

0.05

322,576

3.90

Australia (31 October 2016: 0.18%)
Corporate Bonds
USD 10,632,000

CNOOC Curtis Funding No 1 Pty
Ltd 4.5% 03/10/2023^

11,5080.14

Total Australia

11,5080.14

Azerbaijan (31 October 2016: 0.89%)
Southern Gas Corridor CJSC
6.875% 24/03/2026^

15,8870.19

24,3660.29

102,980

1.24

Government Bonds
USD 19,120,000

Bolivian Government International
Bond 4.5% 20/03/2028

18,5460.22

Total Bolivia

18,5460.22

10,3400.12

Brazil (31 October 2016: 3.93%)
Government Bonds
USD 10,253,000

Banco Nacional de
Desenvolvimento Economico e
Social 4.75% 09/05/2024

USD 12,249,000

Banco Nacional de
Desenvolvimento Economico e
Social 5.75% 26/09/2023

13,244

0.16

USD 20,857,000

Brazilian Government International
Bond 2.625% 05/01/2023

20,1790.24

USD 47,588,000

Brazilian Government International
Bond 4.25% 07/01/2025

48,421

0.59

USD 11,000,000

Brazilian Government International
Bond 4.625% 13/01/2028

10,9170.13

USD 29,705,000

Brazilian Government International
Bond 4.875% 22/01/2021

31,7470.38

USD 36,535,000

Brazilian Government International
Bond 5% 27/01/2045^

33,996

0.41

USD 23,344,000

Brazilian Government International
Bond 5.625% 07/01/2041

23,7290.29

USD

Brazilian Government International
Bond 5.625% 07/01/2041

1,635

0.02

1,608,000

USD 14,860,000

Brazilian Government International
Bond 5.625% 21/02/2047^

15,1130.18

USD 29,729,000

Brazilian Government International
Bond 6% 07/04/2026

33,0360.40

USD 18,399,000

Brazilian Government International
Bond 7.125% 20/01/2037

21,987

0.27

USD

Brazilian Government International
Bond 7.125% 20/01/2037

1,985

0.02

USD 13,325,000

Brazilian Government International
Bond 8.25% 20/01/2034^

17,3720.21

USD

5,081,000

Brazilian Government International
Bond 8.875% 15/04/2024

6,504

0.08

USD

6,003,000

Brazilian Government International
Bond 10.125% 15/05/2027

8,659

0.10

USD

302,000

Brazilian Government International
Bond 10.125% 15/05/2027

436

0.01

299,300

3.61

Corporate Bonds
USD 38,150,000

0.24

Bolivia (31 October 2016: Nil)

Argentine Republic Government
International Bond 8.28%
31/12/2033

Argentine Republic Government
International Bond 8.28%
31/12/2033

19,591Government Bonds

Government Bonds

USD% of net
asset
value

Corporate Bonds (cont)
USD 19,523,000

Angola (31 October 2016: 0.39%)
USD 27,907,000

Fair value$'000

Azerbaijan (31 October 2016: 0.89%) (cont)Transferable Securities Admitted to an Official Stock Exchange Listing or
traded on a Regulated Market (31 October 2016: 98.61%)
Bonds (31 October 2016: 98.61%)

Investment

1,661,000

Total Brazil
43,136

0.52－ 75 －

５．iシェアーズ J.P.モルガン・米ドル建てエマージング・マーケット債券 UCITS ETF

As at 31 October 2017

Ccy

Holding

Investment

Fair value$'000% of net
asset
value

Ccy

Holding

Bonds (31 October 2016: 98.61%) (cont)

1MDB Global Investments Ltd
4.4% 09/03/2023

54,577

0.66

China Great Wall International
Holdings III Ltd 3.125%
31/08/2022^

9,394

0.12

USD 11,665,000

Sinochem Overseas Capital Co
Ltd 4.5% 12/11/2020

12,3360.15

USD

Sinopec Group Overseas
Development 2012 Ltd 3.9%
17/05/2022

9,997

0.12

USD

9,400,000

9,544,000

8,101,000

Sinopec Group Overseas
Development 2012 Ltd 4.875%
17/05/2042

9,181

0.11

Sinopec Group Overseas
Development 2013 Ltd 4.375%
17/10/2023

11,752

0.14

USD 12,969,000

Sinopec Group Overseas
Development 2014 Ltd 4.375%
10/04/2024

13,9590.17

USD 20,838,000

Sinopec Group Overseas
Development 2015 Ltd 2.5%
28/04/2020

20,8700.25

USD 14,159,000

Sinopec Group Overseas
Development 2015 Ltd 3.25%
28/04/2025

14,198USD 12,150,000

Sinopec Group Overseas
Development 2016 Ltd 2%
29/09/2021

USD 10,886,000

USD

4,400,000

USD 11,600,000

USD

USD

USD

8,200,000

8,850,000

Corp Nacional del Cobre de Chile
3.625% 01/08/2027

23,883

USD 33,724,000

Corp Nacional del Cobre de Chile
4.5% 16/09/2025^

36,2790.44

USD 25,200,000

Corp Nacional del Cobre de Chile
4.5% 01/08/2047

26,362

0.32

USD 25,845,000

Chile Government International
Bond 3.125% 21/01/2026

26,491

0.32

USD 28,000,000

Chile Government International
Bond 3.86% 21/06/2047

28,3500.34

141,365

1.71

11,707

0.14

Government Bonds

Colombia (31 October 2016: 3.67%)
Government Bonds
USD 11,940,000

Colombia Government
International Bond 2.625%
15/03/2023^

USD 27,850,000

Colombia Government
International Bond 3.875%
25/04/2027^

28,0870.34

USD 30,390,000

Colombia Government
International Bond 4% 26/02/2024

31,6060.38

0.17

USD 26,025,000

Colombia Government
International Bond 4.375%
12/07/2021

27,5860.33

11,8580.14

USD 20,223,000

Colombia Government
International Bond 4.5%
28/01/2026^

21,517

0.26

4,395

0.05

USD 51,553,000

Sinopec Group Overseas
Development 2017 Ltd 2.5%
13/09/2022

Colombia Government
International Bond 5%
15/06/2045^

53,0480.64

11,4390.14

USD 31,463,000

Sinopec Group Overseas
Development 2017 Ltd 3%
12/04/2022^

Colombia Government
International Bond 5.625%
26/02/2044^

35,081

0.42

8,274

0.10

USD 31,386,000

Sinopec Group Overseas
Development 2017 Ltd 3.625%
12/04/2027^

Colombia Government
International Bond 6.125%
18/01/2041^

36,926

0.45

9,075

0.11

USD 21,154,000

Colombia Government
International Bond 7.375%
18/09/2037^

27,897

0.34

USD

Colombia Government
International Bond 8.125%
21/05/2024

Sinopec Group Overseas
Development 2017 Ltd 2.375%
12/04/2020

6,778,000

State Grid Overseas Investment
2013 Ltd 3.125% 22/05/2023

6,855

0.08

State Grid Overseas Investment
2014 Ltd 4.125% 07/05/2024

13,2600.16

USD9,250,000

State Grid Overseas Investment
2016 Ltd 2.75% 04/05/2022^

9,254

0.11

USD 20,260,000

State Grid Overseas Investment
2016 Ltd 3.5% 04/05/2027
Total British Virgin Islands

20,6640.25

251,3383.03

8,910,000

Total Colombia

Corporate Bonds
7,461,000

Amber Circle Funding Ltd 3.25%
04/12/2022

USD 10,200,000

Brazil Minas SPE via State ofMinas Gerais 5.333% 15/02/2028

10,3530.13

USD 18,040,000

Lamar Funding Ltd 3.958%
07/05/2025

16,8900.20

USD

Three Gorges Finance I Cayman
Islands Ltd 3.15% 02/06/2026^

4,733

0.06

39,563

0.48

Total Cayman Islands

7,587

0.09

11,3380.14

284,793

3.44

Costa Rica (31 October 2016: 0.80%)
Government Bonds
USD 18,964,000

Costa Rica Government
International Bond 4.25%
26/01/2023

18,7030.22

USD 19,680,000

Costa Rica Government
International Bond 7% 04/04/2044

20,492

0.25

USD 18,051,000

Costa Rica Government
International Bond 7.158%
12/03/2045

19,1790.23

Total Costa Rica

58,374

0.70

Cayman Islands (31 October 2016: 0.67%)

4,771,000

0.29

USD 23,750,000

Total Chile

USD 12,430,000

USD% of net
asset
value

Corporate Bonds

Corporate Bonds

USD

Fair value$'000

Chile (31 October 2016: 1.85%)

British Virgin Islands (31 October 2016: 3.08%)
USD 57,000,000

Investment－ 76 －

５．iシェアーズ J.P.モルガン・米ドル建てエマージング・マーケット債券 UCITS ETF

As at 31 October 2017

Ccy

Holding

Investment

Fair value$'000% of net
asset
value

Ccy

Holding

Croatia (31 October 2016: 2.17%)
Croatia Government International
Bond 5.5% 04/04/2023

31,8980.38

USD 29,510,000

Croatia Government International
Bond 6% 26/01/2024^

33,5680.41

USD 35,436,000

Croatia Government International
Bond 6.375% 24/03/2021

39,0680.47

USD 24,901,000

Croatia Government International
Bond 6.625% 14/07/2020

27,236

0.33

Croatia Government International
Bond 6.75% 05/11/2019

6,096

0.07

137,8661.66

5,664,000

Total Croatia

USD 36,896,000

Egypt Government International
Bond 7.5% 31/01/2027

40,816

USD 48,530,000

Egypt Government International
Bond 8.5% 31/01/2047

54,7780.66

193,535

2.34

17,8460.22

Total Egypt

Government Bonds
El Salvador Government
International Bond 7.65%
15/06/2035

USD

El Salvador Government
International Bond 7.65%
15/06/2035

220,000

229

0.00

18,0750.22

Ethiopia International Bond6.625% 11/12/2024

18,5960.22

Total Ethiopia

18,5960.22

Total El Salvador

Government Bonds
USD 29,205,000

Dominican Republic International
Bond 5.5% 27/01/2025

30,8840.37

USD 16,566,000

Dominican Republic International
Bond 5.875% 18/04/2024^

18,016

0.22

USD 30,830,000

Dominican Republic International
Bond 5.95% 25/01/2027

33,142

0.40

USD 38,026,000

Dominican Republic International
Bond 6.85% 27/01/2045

42,304

0.51

USD 29,140,000

Dominican Republic International
Bond 6.875% 29/01/2026

33,292

0.40

USD 29,045,000

Dominican Republic International
Bond 7.45% 30/04/2044

34,455

0.42

USD 30,316,000

Dominican Republic International
Bond 7.5% 06/05/2021

33,4610.40

225,554

2.72

Ethiopia (31 October 2016: 0.25%)
Government Bonds
USD 18,054,000

Gabon (31 October 2016: 0.37%)
Government Bonds
USD 28,511,829

Gabon Government International
Bond 6.375% 12/12/2024

27,906

0.34

Total Gabon

27,9060.34

Ghana (31 October 2016: 0.47%)
Government Bonds

Ecuador (31 October 2016: 1.19%)
Government Bonds

USD 19,006,000

Ghana Government International
Bond 7.875% 07/08/2023

20,5270.25

USD 18,428,000

Ghana Government International
Bond 8.125% 18/01/2026^

19,971

0.24

Total Ghana

40,4980.49

12,046

0.14

9,683

0.12

21,7290.26

USD 37,452,000

Ecuador Government International
Bond 7.95% 20/06/2024

37,7800.45

USD 18,034,000

Ecuador Government International
Bond 8.75% 02/06/2023

18,9130.23

USD7,950,000

Ecuador Government International
Bond 8.875% 23/10/2027

8,108

0.10

USD 19,880,000

Ecuador Government International
Bond 9.625% 02/06/2027

21,321

0.26

USD 12,000,000

USD 35,072,000

Ecuador Government International
Bond 9.65% 13/12/2026^

CNAC HK Finbridge Co Ltd 3.5%
19/07/2022

37,7900.46

USD

USD 28,576,000

Ecuador Government International
Bond 10.5% 24/03/2020

CNAC HK Finbridge Co Ltd
4.125% 19/07/2027

31,0050.37

USD 37,621,000

Ecuador Government International
Bond 10.75% 28/03/2022

42,5590.51

197,476

2.38

Total Ecuador

0.49

El Salvador (31 October 2016: 0.29%)
USD 17,160,000

Dominican Republic (31 October 2016: 2.55%)

Total Dominican Republic% of net
asset
value

Government Bonds (cont)

Government Bonds

USD

Fair value$'000

Egypt (31 October 2016: 0.62%) (cont)Bonds (31 October 2016: 98.61%) (cont)

USD 28,900,000

Investment

Egypt (31 October 2016: 0.62%)
Government Bonds

Hong Kong (31 October 2016: Nil)
Corporate Bonds

9,500,000

Total Hong Kong
Hungary (31 October 2016: 3.61%)
Government Bonds
USD 36,718,000

Hungary Government International
Bond 5.375% 21/02/2023

41,0780.50

USD 38,674,000

Hungary Government International
Bond 5.375% 25/03/2024^

43,943

0.53

USD 19,049,000

Egypt Government International
Bond 5.75% 29/04/2020

19,764

0.24

USD 38,134,000

USD 27,609,000

Egypt Government International
Bond 5.875% 11/06/2025^

Hungary Government International
Bond 5.75% 22/11/2023^

43,8540.53

28,196

0.34

USD 34,253,000

Egypt Government International
Bond 6.125% 31/01/2022

Hungary Government International
Bond 6.25% 29/01/2020

37,1220.45

49,981

0.61

USD 47,886,000－ 77 －

５．iシェアーズ J.P.モルガン・米ドル建てエマージング・マーケット債券 UCITS ETF

As at 31 October 2017

Ccy

Holding

Investment

Fair value$'000% of net
asset
value

Ccy

Holding

Bonds (31 October 2016: 98.61%) (cont)375,000

Hungary Government International
Bond 6.25% 29/01/2020

407

0.01

USD 48,964,000

Hungary Government International
Bond 6.375% 29/03/2021^

54,7170.66

USD2,548,000

Hungary Government International
Bond 6.375% 29/03/2021

2,848

0.03

USD 22,754,000

Hungary Government International
Bond 7.625% 29/03/2041^

35,0410.42

259,010

3.13

India (31 October 2016: 0.26%)

USD 17,392,000

Indonesia Government
International Bond 4.75%
08/01/2026

18,923

0.23

USD

Indonesia Government
International Bond 4.75%
18/07/2047^

10,4570.13

USD 14,609,000

Indonesia Government
International Bond 4.875%
05/05/2021

15,6940.19

USD 12,342,000

Indonesia Government
International Bond 5.125%
15/01/2045

13,6540.16

USD

8,413,000

Indonesia Government
International Bond 5.25%
17/01/2042

9,400

0.11

USD

800,000

Indonesia Government
International Bond 5.25%
17/01/2042

894

0.01

USD 11,608,000

Indonesia Government
International Bond 5.25%
08/01/2047

13,0720.16

USD

7,038,000

Indonesia Government
International Bond 5.375%
17/10/2023

7,927

0.10

USD 10,767,000

Indonesia Government
International Bond 5.875%
13/03/2020

11,6690.14

USD 14,401,000

Indonesia Government
International Bond 5.875%
15/01/2024

16,5240.20

USD8,450,000

Indonesia Government
International Bond 5.95%
08/01/2046^

10,4360.13

USD

8,446,000

Indonesia Government
International Bond 6.625%
17/02/2037

10,8410.13

USD

942,000

Indonesia Government
International Bond 6.625%
17/02/2037

1,209

0.01

USD 14,169,000

Indonesia Government
International Bond 6.75%
15/01/2044

18,9780.23

USD 11,426,000

Indonesia Government
International Bond 7.75%
17/01/2038

16,2750.20

USD 10,270,000

Indonesia Government
International Bond 8.5%
12/10/2035^

15,3240.18

USD

7,150,000

Perusahaan Penerbit SBSN
Indonesia III 3.3% 21/11/2022^

7,257

0.09

USD

7,930,000

Perusahaan Penerbit SBSN
Indonesia III 3.4% 29/03/2022^

8,079

0.10

9,900,000

Government Bonds
USD 18,729,000

Export-Import Bank of India
3.375% 05/08/2026

18,5260.22

Total India

18,526

0.22

Indonesia (31 October 2016: 4.85%)
Corporate Bonds
USD

6,660,000

Pelabuhan Indonesia II PT 4.25%
05/05/2025^

6,901

0.08

USD 12,981,000

Pertamina Persero PT 4.3%
20/05/2023

13,711

0.17

USD9,619,000

Pertamina Persero PT 4.875%
03/05/2022

10,3280.12

USD

3,492,000

Pertamina Persero PT 5.25%
23/05/2021

3,766

0.05

USD

9,512,000

Pertamina Persero PT 5.625%
20/05/2043

10,4140.13

USD

8,236,000

Pertamina Persero PT 6%
03/05/2042

9,425

0.11

USD

5,820,000

Pertamina Persero PT 6.45%
30/05/2044

7,025

0.08

USD 11,700,000

Perusahaan Listrik Negara PT
4.125% 15/05/2027

11,7840.14

USD

6,525,000

Perusahaan Listrik Negara PT
5.25% 24/10/2042^

6,862

0.08

USD

5,048,000

Perusahaan Listrik Negara PT
5.5% 22/11/2021

5,515

0.07

Government Bonds
USD

7,760,000

USD 10,983,000

USD

9,450,000

USD 12,209,000

USD 11,000,000

USD

4,874,000

Indonesia Government
International Bond 3.375%
15/04/2023

7,876

0.09

Indonesia Government
International Bond 3.75%
25/04/2022^

11,393

0.14

Indonesia Government
International Bond 3.85%
18/07/2027^

9,720

0.12

Indonesia Government
International Bond 4.125%
15/01/2025^

12,772

0.15

Indonesia Government
International Bond 4.35%
08/01/2027^

11,652

0.14

Indonesia Government
International Bond 4.625%
15/04/2043% of net
asset
value

Government Bonds (cont)

Government Bonds (cont)Total Hungary

Fair value$'000

Indonesia (31 October 2016: 4.85%) (cont)Hungary (31 October 2016: 3.61%) (cont)
USD

Investment

5,046

USD 14,599,000

Perusahaan Penerbit SBSN
Indonesia III 4.15% 29/03/2027

15,0170.18

USD

9,982,000

Perusahaan Penerbit SBSN
Indonesia III 4.325% 28/05/2025

10,4270.13

USD

6,850,000

Perusahaan Penerbit SBSN
Indonesia III 4.35% 10/09/2024

7,221

0.09

USD 13,380,000

Perusahaan Penerbit SBSN
Indonesia III 4.55% 29/03/2026

14,1640.17

397,632

4.80

0.06

－ 78 －

Total Indonesia

５．iシェアーズ J.P.モルガン・米ドル建てエマージング・マーケット債券 UCITS ETF

As at 31 October 2017

Ccy

Holding

Investment

Fair value$'000% of net
asset
value

Ccy

Holding

Bonds (31 October 2016: 98.61%) (cont)
USD 18,463,000

Development Bank of Kazakhstan
JSC 4.125% 10/12/2022

Iraq International Bond 5.8%
15/01/2028

18,7630.23

49,0550.59

USD 18,550,000

Iraq International Bond 6.752%
09/03/2023

KazMunayGas National Co JSC
4.75% 19/04/2027

18,9780.23

17,9450.22

USD 21,762,000

Total Iraq

67,0000.81

KazMunayGas National Co JSC
5.75% 19/04/2047^

21,844

0.26

USD 20,448,000

KazMunayGas National Co JSC
6.375% 09/04/2021

22,3590.27

USD 25,273,000

KazMunayGas National Co JSC
7% 05/05/2020

27,5470.33

Ireland (31 October 2016: 0.76%)
Corporate Bonds
USD 11,302,000

Russian Railways via RZD CapitalPlc 5.7% 05/04/2022

12,2630.15

USD 10,000,000

Vnesheconombank Via VEB
Finance Plc 5.942% 21/11/2023

10,8380.13

USD

7,412,000

Vnesheconombank Via VEB
Finance Plc 6.025% 05/07/2022

8,070

0.10

USD

7,350,000

Vnesheconombank Via VEB
Finance Plc 6.8% 22/11/2025

8,342

0.10

USD 11,580,000

Vnesheconombank Via VEB
Finance Plc 6.902% 09/07/2020

12,535

0.15

Total Ireland

52,0480.63

Government Bonds
USD 26,736,000

Kazakhstan Government
International Bond 3.875%
14/10/2024

27,6050.33

USD 18,077,000

Kazakhstan Government
International Bond 4.875%
14/10/2044

18,732

0.23

USD 43,752,000

Kazakhstan Government
International Bond 5.125%
21/07/2025^

48,6190.59

USD 26,886,000

Kazakhstan Government
International Bond 6.5%
21/07/2045^

Ivory Coast (31 October 2016: 0.94%)

33,6750.41

238,122

2.88

Kenya Government International
Bond 6.875% 24/06/2024

37,3970.45

Total Kenya

37,3970.45

Total Kazakhstan

Government Bonds
USD 38,592,000% of net
asset
value

Corporate Bonds

Government Bonds

USD 17,900,000

Fair value$'000

Kazakhstan (31 October 2016: 2.96%)

Iraq (31 October 2016: 0.57%)
USD 52,048,000

Investment

Ivory Coast Government
International Bond 5.75%
31/12/2032^

36,636

0.44

USD 23,400,000

Ivory Coast Government
International Bond 6.125%
15/06/2033

23,1660.28

USD 16,710,000

Ivory Coast Government
International Bond 6.375%
03/03/2028^

17,337

0.21

Total Ivory Coast

77,1390.93

Kenya (31 October 2016: 0.51%)

Jamaica (31 October 2016: 0.79%)
Government Bonds
USD 36,109,000

Jamaica Government International
Bond 6.75% 28/04/2028

41,7960.50

USD 19,844,000

Jamaica Government International
Bond 7.875% 28/07/2045

24,5820.30

USD 21,625,000

Jamaica Government International
Bond 8% 15/03/2039

26,896

0.33

Total Jamaica

93,274

1.13

Government Bonds
USD 36,002,000

Lebanon (31 October 2016: 2.70%)
Government Bonds
USD 24,002,000

Lebanon Government
International Bond 6% 27/01/2023

23,342

0.28

USD 27,887,000

Lebanon Government
International Bond 6.1%
04/10/2022

27,5040.33

USD 20,682,000

Lebanon Government
International Bond 6.375%
09/03/2020

20,9660.25

USD 29,088,000

Lebanon Government
International Bond 6.6%
27/11/2026

27,9970.34

USD 26,009,000

Lebanon Government
International Bond 6.65%
26/02/2030^

24,4160.30

USD 18,481,000

Lebanon Government
International Bond 6.75%
29/11/2027

17,7880.22

USD 26,279,000

Lebanon Government
International Bond 6.85%
23/03/2027^

25,5560.31

USD 19,237,000

Lebanon Government
International Bond 7%
23/03/2032^

18,2990.22

Jordan (31 October 2016: Nil)
Government Bonds
USD 21,017,000

Jordan Government International
Bond 5.75% 31/01/2027

20,991

0.25

USD 18,300,000

Jordan Government International
Bond 6.125% 29/01/2026

18,9170.23

USD 18,770,000

Jordan Government International
Bond 7.375% 10/10/2047

19,6380.24

Total Jordan

59,546

0.72－ 79 －

５．iシェアーズ J.P.モルガン・米ドル建てエマージング・マーケット債券 UCITS ETF

As at 31 October 2017

Ccy

Holding

Investment

Fair value$'000% of net
asset
value

Ccy

Holding

Bonds (31 October 2016: 98.61%) (cont)Total Lebanon

39,9230.48

225,791

2.73

Lithuania (31 October 2016: 1.55%)
Government Bonds
USD 28,879,000

USD 28,418,000

USD 33,052,000

Lithuania Government
International Bond 6.125%
09/03/2021

32,3080.39

Lithuania Government
International Bond 6.625%
01/02/2022^

33,2140.40

Lithuania Government
International Bond 7.375%
11/02/2020^
Total Lithuania

36,8940.45

102,416

1.24

Malaysia (31 October 2016: 2.06%)
Corporate Bonds
USD 18,700,000

Malaysia Sovereign Sukuk Bhd
3.043% 22/04/2025^

18,9060.23

USD 18,900,000

Malaysia Sukuk Global Bhd
3.179% 27/04/2026^

19,286

0.23

USD 31,106,000

Petronas Capital Ltd 3.5%
18/03/2025

32,192

0.39

USD 27,923,000

Petronas Capital Ltd 4.5%
18/03/2045

31,1360.38

USD 10,324,000

Petronas Capital Ltd 7.875%
22/05/2022

12,6290.15

USD

Petronas Capital Ltd 7.875%
22/05/2022

8,381

0.10

Petronas Global Sukuk Ltd
2.707% 18/03/2020

25,661

0.31

148,191

1.79

6,852,000

USD 25,470,000

Total Malaysia

USD

4,450,000

Banco Nacional de Comercio
Exterior SNC 4.375% 14/10/2025

4,736

0.06

Comision Federal de Electricidad
4.75% 23/02/2027

4,661

0.06

5,301

0.06

USD

5,001,000

Comision Federal de Electricidad
4.875% 26/05/2021

USD

5,500,000

Comision Federal de Electricidad
4.875% 15/01/2024

5,878

0.07

Mexico City Airport Trust 3.875%
30/04/2028

5,180

0.06

Mexico City Airport Trust 4.25%
31/10/2026

4,756

0.06

5,100,000

Mexico City Airport Trust 5.5%
31/10/2046

5,049

0.06

USD 11,230,000

Mexico City Airport Trust 5.5%
31/07/2047^

USD
USD
USD

USD

5,290,000
4,663,000

1,472,000

Petroleos Mexicanos 3.5%
23/07/2020

Petroleos Mexicanos 3.5%
30/01/2023

10,5130.13

USD4,510,000

Petroleos Mexicanos 4.25%
15/01/2025

4,486

0.05

USD

4,130,000

Petroleos Mexicanos 4.5%
23/01/2026^

4,078

0.05

USD 11,061,000

Petroleos Mexicanos 4.625%
21/09/2023^

11,3160.14

USD 13,938,000

Petroleos Mexicanos 4.875%
24/01/2022

14,4960.18

USD

4,792,000

Petroleos Mexicanos 4.875%
18/01/2024

4,910

0.06

USD

6,262,000

Petroleos Mexicanos FRN
11/03/2022^

6,826

0.08

USD 16,293,000

Petroleos Mexicanos 5.5%
21/01/2021

17,311

0.21

USD 11,764,000

Petroleos Mexicanos 5.5%
27/06/2044

10,5980.13

USD 17,079,000

Petroleos Mexicanos 5.625%
23/01/2046

15,4850.19

USD

Petroleos Mexicanos 6%
05/03/2020

5,224

0.06

4,898,000

USD 10,751,000

Petroleos Mexicanos 6.375%
04/02/2021

11,6970.14

USD 14,012,000

Petroleos Mexicanos 6.375%
23/01/2045

13,9400.17

USD 26,929,000

Petroleos Mexicanos 6.5%
13/03/2027^

29,3700.35

USD 12,572,000

Petroleos Mexicanos 6.5%
02/06/2041

12,7290.15

USD 12,547,000

Petroleos Mexicanos 6.625%
15/06/2035

13,233

0.16

USD 20,714,000

Petroleos Mexicanos 6.75%
21/09/2047

21,3500.26

USD

Petroleos Mexicanos 6.75%
21/09/2047

9,276

0.11

Petroleos Mexicanos 6.875%
04/08/2026

17,5410.21

0.06

9,000,000

USD 15,613,000

USD

Corporate Bonds
4,576,000

USD 10,768,000

Government Bonds

Mexico (31 October 2016: 6.28%)
USD% of net
asset
value

Corporate Bonds (cont)

Government Bonds (cont)
Lebanon Government
International Bond 8.25%
12/04/2021

Fair value$'000

Mexico (31 October 2016: 6.28%) (cont)

Lebanon (31 October 2016: 2.70%) (cont)
USD 37,663,000

Investment

11,140

0.13

1,497

0.02

4,819,000

Mexico Government International
Bond 3.5% 21/01/2021^

5,026

USD 15,059,000

Mexico Government International
Bond 3.6% 30/01/2025

15,2470.18

USD 14,700,000

Mexico Government International
Bond 3.625% 15/03/2022

15,3100.19

USD 19,862,000

Mexico Government International
Bond 4% 02/10/2023^

20,8050.25

USD 12,244,000

Mexico Government International
Bond 4.125% 21/01/2026^

12,7580.15

USD 18,505,000

Mexico Government International
Bond 4.15% 28/03/2027^

19,2360.23

USD

Mexico Government International
Bond 4.35% 15/01/2047^

8,283

0.10

USD 15,871,000

Mexico Government International
Bond 4.6% 23/01/2046

15,4740.19

USD

5,250,000

Mexico Government International
Bond 4.6% 10/02/2048

5,127

0.06

USD 22,238,000

Mexico Government International
Bond 4.75% 08/03/2044

22,171

0.27－ 80 －

8,800,000

５．iシェアーズ J.P.モルガン・米ドル建てエマージング・マーケット債券 UCITS ETF

As at 31 October 2017

Ccy

Holding

Investment

Fair value$'000% of net
asset
value

Ccy

Holding

Bonds (31 October 2016: 98.61%) (cont)

USD 14,832,000

Mexico Government International
Bond 5.125% 15/01/2020

8,294

0.10

Mexico Government International
Bond 5.55% 21/01/2045^

16,5750.20

USD 15,142,000

Mexico Government International
Bond 5.75% 12/10/2110

15,8230.19

USD 16,944,000

Mexico Government International
Bond 6.05% 11/01/2040

19,8160.24

USD

4,118,000

Mexico Government International
Bond 6.75% 27/09/2034

5,343

0.07

USD

63,000

Mexico Government International
Bond 6.75% 27/09/2034

82

0.00

USD

4,870,000

Mexico Government International
Bond 8.3% 15/08/2031

7,287

0.09

495,234

5.98

Total Mexico

USD 36,905,000

Oman Government International
Bond 5.375% 08/03/2027^

37,864

USD 39,381,000

Oman Government International
Bond 6.5% 08/03/2047^

40,5430.49

209,577

2.53

Second Pakistan International
Sukuk Co Ltd 6.75% 03/12/2019

9,833

0.12

Third Pakistan International Sukuk
Co Ltd 5.5% 13/10/2021

22,170

0.27

Pakistan Government International
Bond 8.25% 15/04/2024^

22,5680.27

Total Pakistan

54,571

0.66

Total Oman

Corporate Bonds
9,443,000

USD 21,789,000

Government Bonds
USD 20,269,000

Panama (31 October 2016: 2.11%)

Government Bonds

Government Bonds

Mongolia Government
International Bond 5.125%
05/12/2022

18,502

0.22

Total Mongolia

18,5020.22

Morocco (31 October 2016: 0.41%)
Government Bonds
USD 28,312,000

Morocco Government International
Bond 4.25% 11/12/2022

29,7280.36

Total Morocco

29,7280.36

USD 24,597,000

Panama Government International
Bond 3.75% 16/03/2025

25,642

0.31

USD 23,754,000

Panama Government International
Bond 3.875% 17/03/2028^

24,7930.30

USD 22,518,000

Panama Government International
Bond 4% 22/09/2024

23,9260.29

USD 21,050,000

Panama Government International
Bond 4.5% 15/05/2047^

22,261

0.27

USD 20,642,000

Panama Government International
Bond 5.2% 30/01/2020

22,097

0.26

USD 40,782,000

Panama Government International
Bond 6.7% 26/01/2036

53,8830.65

172,602

2.08

Paraguay Government
International Bond 6.1%
11/08/2044

22,4170.27

Total Paraguay

22,4170.27

Netherlands (31 October 2016: 0.45%)

Total Panama

Corporate Bonds
USD 19,455,000

Kazakhstan Temir Zholy Finance
BV 6.95% 10/07/2042

USD

Majapahit Holding BV 7.75%
20/01/2020

6,220,000

Total Netherlands

21,790

0.27

6,874

0.08

28,6640.35

Paraguay (31 October 2016: 0.28%)
Government Bonds
USD 19,664,000

Nigeria (31 October 2016: Nil)
Government Bonds
USD 29,357,000

People's Republic of China (31 October 2016: 1.18%)

Nigeria Government International
Bond 7.875% 16/02/2032^

32,183

0.39

Total Nigeria

32,183

0.39

Oman (31 October 2016: 0.77%)
Corporate Bonds
USD 38,048,000

Oman Sovereign Sukuk SAOC
4.397% 01/06/2024

0.46

Pakistan (31 October 2016: 0.58%)
USD

Mongolia (31 October 2016: 0.22%)
USD 18,642,000% of net
asset
value

Government Bonds (cont)

Government Bonds (cont)7,742,000

Fair value$'000

Oman (31 October 2016: 0.77%) (cont)Mexico (31 October 2016: 6.28%) (cont)
USD

Investment

38,0000.46

Government Bonds
USD 29,780,000

Oman Government International
Bond 3.625% 15/06/2021^

USD 17,534,000

Oman Government International
Bond 3.875% 08/03/2022

17,692

0.21

USD 46,165,000

Oman Government International
Bond 4.75% 15/06/2026^

45,5190.55

29,9590.36

Government Bonds
USD 18,500,000

China Development Bank 2.625%
24/01/2022

18,4390.22

USD

8,798,000

Export-Import Bank of China 2%
26/04/2021^

8,617

0.11

USD

7,354,000

China Development Bank 2.125%
01/06/2021^

7,220

0.09

USD

9,200,000

China Development Bank 2.5%
09/10/2020

9,179

0.11

USD

5,500,000

China Development Bank Corp
FRN 06/03/2022^

5,498

0.06

USD

7,400,000

Export-Import Bank of China
2.625% 14/03/2022

7,372

0.09

USD

5,650,000

Export-Import Bank of China
2.875% 26/04/2026

5,537

0.07

－ 81 －

５．iシェアーズ J.P.モルガン・米ドル建てエマージング・マーケット債券 UCITS ETF

As at 31 October 2017

Ccy

Holding

Investment

Fair value$'000% of net
asset
value

Ccy

Holding

Bonds (31 October 2016: 98.61%) (cont)

Export-Import Bank of China
3.625% 31/07/2024

16,536

0.20

Total People's Republic of
China

78,3980.95

USD 13,748,000

Philippine Government
International Bond 5.5%
30/03/2026

16,3350.20

USD 12,673,000

Philippine Government
International Bond 6.375%
15/01/2032^

16,5330.20

USD 22,035,000

Philippine Government
International Bond 6.375%
23/10/2034

29,4750.36

USD 22,398,000

Philippine Government
International Bond 7.75%
14/01/2031

32,1580.39

USD

Philippine Government
International Bond 7.75%
14/01/2031

790

0.01

38,9800.47

Peru (31 October 2016: 3.29%)
Corporate Bonds
USD 19,200,000

Petroleos del Peru SA 4.75%
19/06/2032

19,6380.24

USD 19,460,000

Petroleos del Peru SA 5.625%
19/06/2047

20,481

0.25

USD 24,038,000

Peruvian Government
International Bond 4.125%
25/08/2027

26,2920.32

USD 43,270,000

Peruvian Government
International Bond 5.625%
18/11/2050^

54,5630.66

USD

Peruvian Government
International Bond 5.625%
18/11/2050

6,034

0.07

Peruvian Government
International Bond 6.55%
14/03/2037

16,2450.19

Government Bonds

USD 12,087,000

550,000

USD 24,615,000

Philippine Government
International Bond 9.5%
02/02/2030

USD 20,346,000

Philippine Government
International Bond 10.625%
16/03/2025
Total Philippines

Peruvian Government
International Bond 6.55%
14/03/2037

USD 34,890,000

Peruvian Government
International Bond 7.35%
21/07/2025

45,584

0.55

USD 40,766,000

Peruvian Government
International Bond 8.75%
21/11/2033

64,3690.78

267,321

3.23

14,115

Republic of Poland Government
International Bond 3% 17/03/2023

37,0850.45

USD 32,379,000

Republic of Poland Government
International Bond 3.25%
06/04/2026^

33,1080.40

USD 35,284,000

Republic of Poland Government
International Bond 4%
22/01/2024^

37,7980.46

USD 57,939,000

Republic of Poland Government
International Bond 5%
23/03/2022^

63,733

0.77

USD 40,524,000

Republic of Poland Government
International Bond 5.125%
21/04/2021^

0.17

Total Poland

18,184

USD 24,136,000

Philippine Government
International Bond 3.7%
01/03/2041

23,9850.29

USD 29,631,000

Philippine Government
International Bond 3.7%
02/02/2042

29,4380.36

USD 24,367,000

Philippine Government
International Bond 3.95%
20/01/2040^

25,1360.30

USD 21,232,000

Philippine Government
International Bond 4% 15/01/2021

22,4260.27

USD 18,100,000

Philippine Government
International Bond 4.2%
21/01/2024^

19,7900.24

Philippine Government
International Bond 5% 13/01/2037

18,4380.22

44,2720.53

215,996

2.61

Romania (31 October 2016: 1.75%)

0.22

Government Bonds

USD 15,656,000

3.90

USD 36,313,000

Corporate Bonds
Power Sector Assets & Liabilities
Management Corp 7.39%
02/12/2024

0.37

Poland (31 October 2016: 3.44%)

Philippines (31 October 2016: 4.56%)
USD 14,156,000

30,980322,648

Government Bonds

USD 10,502,000

Total Peru

% of net
asset
value

Government Bonds (cont)

Government Bonds

4,785,000

Fair value$'000

Philippines (31 October 2016: 4.56%) (cont)People's Republic of China(31 October 2016: 1.18%) (cont)
USD 15,913,000

Investment

Government Bonds
USD 24,670,000

Romanian Government
International Bond 4.375%
22/08/2023

26,3660.32

USD 19,356,000

Romanian Government
International Bond 4.875%
22/01/2024

21,2670.26

USD 18,528,000

Romanian Government
International Bond 6.125%
22/01/2044^

23,531

0.28

USD 46,762,000

Romanian Government
International Bond 6.75%
07/02/2022

54,0100.65

125,174

1.51

Total Romania

Russian Federation (31 October 2016: 3.91%)
Government Bonds
USD 19,400,000－ 82 －

Russian Foreign Bond - Eurobond
4.25% 23/06/2027

19,7590.24

５．iシェアーズ J.P.モルガン・米ドル建てエマージング・マーケット債券 UCITS ETF

As at 31 October 2017

Ccy

Holding

Investment

Fair value$'000% of net
asset
value

Ccy

Holding

Bonds (31 October 2016: 98.61%) (cont)% of net
asset
value

Government Bonds (cont)

Government Bonds (cont)USD

USD 16,200,000

Russian Foreign Bond - Eurobond
4.5% 04/04/2022

17,253

0.21

USD 24,800,000

Russian Foreign Bond - Eurobond
4.75% 27/05/2026

26,1390.32

USD 23,200,000

Russian Foreign Bond - Eurobond
4.875% 16/09/2023

25,2590.30

28,8360.35

USD 27,300,000

Russian Foreign Bond - Eurobond
5% 29/04/2020

USD 38,400,000

Russian Foreign Bond - Eurobond
5.25% 23/06/2047

39,322

0.47

USD 23,400,000

Russian Foreign Bond - Eurobond
5.625% 04/04/2042

25,8220.31

USD

9,800,000

Russian Foreign Bond - Eurobond
5.875% 16/09/2043

11,184

0.14

USD 119,456,134

Russian Foreign Bond - Eurobond
7.5% 31/03/2030

66,742

0.81

USD 20,400,000

Russian Foreign Bond - Eurobond
12.75% 24/06/2028

35,7510.43

296,067

3.58

7,200,000

Republic of South Africa
Government International Bond
4.85% 27/09/2027

7,002

0.09

USD 15,422,000

Republic of South Africa
Government International Bond4.875% 14/04/2026

15,3060.18

USD 11,000,000

Republic of South Africa
Government International Bond
5% 12/10/2046

9,762

0.12

USD 18,128,000

Republic of South Africa
Government International Bond5.375% 24/07/2044

17,0400.20

USD 19,338,000

Republic of South Africa
Government International Bond
5.5% 09/03/2020

20,4020.25

USD

1,377,000

Republic of South Africa
Government International Bond
5.5% 09/03/2020

1,453

0.02

USD 14,740,000

Republic of South Africa
Government International Bond
5.65% 27/09/2047

14,1130.17

USD 11,884,000

Republic of South Africa
Government International Bond5.875% 30/05/2022^

12,9680.16

USD

73,000

Republic of South Africa
Government International Bond5.875% 30/05/2022

80

0.00

USD 41,285,000

Republic of South Africa
Government International Bond5.875% 16/09/2025

Senegal (31 October 2016: Nil)
Government Bonds
USD 19,705,000

Fair value$'000

South Africa (31 October 2016: 3.37%) (cont)

Russian Federation (31 October 2016: 3.91%) (cont)Total Russian Federation

Investment

Senegal Government International
Bond 6.25% 23/05/2033^

20,3700.25

Total Senegal

20,3700.25

Serbia (31 October 2016: 1.27%)

Total South Africa

43,9690.53

260,644

3.15

Government Bonds
USD 31,470,000

Serbia International Bond 4.875%
25/02/2020

32,805

0.39

USD 35,047,000

Serbia International Bond 7.25%
28/09/2021^

40,304

0.49

Total Serbia

73,1090.88

Sri Lanka (31 October 2016: 1.82%)
Government Bonds
USD 20,884,000

Sri Lanka Government
International Bond 5.875%
25/07/2022

22,294

0.27

USD 29,574,000

Sri Lanka Government
International Bond 6.2%
11/05/2027^

31,371

0.38

USD 17,641,000

Sri Lanka Government
International Bond 6.25%
04/10/2020^

18,832

0.23

USD 19,096,000

Sri Lanka Government
International Bond 6.25%
27/07/2021

20,6000.25

USD 18,085,000

Sri Lanka Government
International Bond 6.825%
18/07/2026

20,0450.24

USD 27,571,000

Sri Lanka Government
International Bond 6.85%
03/11/2025

30,6090.37

143,751

1.74

Slovakia (31 October 2016: 0.43%)
Government Bonds
USD 26,050,000

Slovakia Government International
Bond 4.375% 21/05/2022

28,1990.34

Total Slovakia

28,1990.34

South Africa (31 October 2016: 3.37%)
Corporate Bonds
USD 23,670,000

Eskom Holdings SOC Ltd 5.75%
26/01/2021

23,9070.29

USD 13,482,000

Eskom Holdings SOC Ltd 6.75%
06/08/2023

13,7850.16

USD 16,934,000

Eskom Holdings SOC Ltd 7.125%
11/02/2025^

17,3360.21

USD 13,464,000

Transnet SOC Ltd 4% 26/07/2022

13,141

0.16

USD 30,187,000

Republic of South Africa
Government International Bond
4.3% 12/10/2028

USD 22,254,000

Republic of South Africa
Government International Bond4.665% 17/01/2024

Total Sri Lanka

Trinidad And Tobago (31 October 2016: 0.29%)

Government Bonds

Government Bonds
USD 17,806,000
27,84822,5320.34

0.27－ 83 －

Trinidad & Tobago Government
International Bond 4.5%
04/08/2026^

17,962

0.22

Total Trinidad And Tobago

17,9620.22

５．iシェアーズ J.P.モルガン・米ドル建てエマージング・マーケット債券 UCITS ETF

As at 31 October 2017

Ccy

Holding

Investment

Fair value$'000% of net
asset
value

Ccy

Holding

Bonds (31 October 2016: 98.61%) (cont)

Fair value$'000% of net
asset
value

0.43

Ukraine (31 October 2016: 3.00%)

Tunisia (31 October 2016: 0.25%)

Government Bonds

Government Bonds
USD 18,718,000

Investment

Banque Centrale de TunisieInternational Bond 5.75%
30/01/2025^

18,6240.22

Total Tunisia

18,6240.22

Turkey (31 October 2016: 4.61%)
Corporate Bonds

USD 35,945,000

Ukraine Government International
Bond 7.375% 25/09/2032

35,406

USD 23,106,000

Ukraine Government International
Bond 7.75% 01/09/2020

24,6080.30

USD 23,986,000

Ukraine Government International
Bond 7.75% 01/09/2021

25,5750.31

USD 26,174,000

Ukraine Government International
Bond 7.75% 01/09/2022

27,9800.34

USD 25,258,000

Ukraine Government International
Bond 7.75% 01/09/2023

26,8370.32

USD

8,600,000

Hazine Mustesarligi Varlik
Kiralama AS 4.251% 08/06/2021

8,675

0.11

USD

5,220,000

Hazine Mustesarligi Varlik
Kiralama AS 4.489% 25/11/2024^

USD 27,464,000

5,116

0.06

Ukraine Government International
Bond 7.75% 01/09/2024

28,7680.35

USD 22,255,000

Ukraine Government International
Bond 7.75% 01/09/2025

23,1450.28

USD

9,150,000

Hazine Mustesarligi Varlik
Kiralama AS 5.004% 06/04/2023

USD 11,995,000

Turkey Government International
Bond 3.25% 23/03/2023

11,320

0.14

9,322

0.11

Government Bonds

USD 26,760,000

Ukraine Government International
Bond 7.75% 01/09/2026

27,563

0.33

USD 31,905,000

Ukraine Government International
Bond 7.75% 01/09/2027

32,862

0.39

252,744

3.05

0.54

Total Ukraine

USD 12,426,000

Turkey Government International
Bond 4.25% 14/04/2026

11,7270.14

USD 26,536,000

Turkey Government International
Bond 4.875% 09/10/2026

25,9060.31

USD 25,391,000

Turkey Government International
Bond 4.875% 16/04/2043

21,9000.27

USD 41,077,000

USD

Turkey Government International
Bond 5.125% 25/03/2022^

Uruguay Government International
Bond 4.375% 27/10/2027

44,363

1,754

0.02

USD 29,867,400

Turkey Government International
Bond 5.625% 30/03/2021

Uruguay Government International
Bond 4.5% 14/08/2024

32,7050.39

15,472

0.19

USD 70,748,202

Uruguay Government International
Bond 5.1% 18/06/2050^

75,8780.92

USD 22,888,754

Uruguay Government International
Bond 7.625% 21/03/2036

32,273

0.39

185,219

2.24

1,691,000

USD 14,665,000
USD 19,360,000

Turkey Government International
Bond 5.75% 22/03/2024

20,4250.25

USD 24,445,000

Turkey Government International
Bond 5.75% 11/05/2047

23,3140.28

USD 29,391,000

Turkey Government International
Bond 6% 25/03/2027

30,971

0.37

USD 20,524,000

Turkey Government International
Bond 6% 14/01/2041

20,5240.25

USD 14,330,000

Turkey Government International
Bond 6.25% 26/09/2022

15,584

0.19

USD 23,523,000

Turkey Government International
Bond 6.625% 17/02/2045

25,111

0.30

USD 10,939,000

Turkey Government International
Bond 6.75% 30/05/2040

11,8960.14

1,625,000

Turkey Government International
Bond 6.75% 30/05/2040

1,767

0.02

USD 14,061,000

Turkey Government International
Bond 6.875% 17/03/2036

15,4670.19

USD

Turkey Government International
Bond 6.875% 17/03/2036

5,635

0.07

14,8170.18

USD

5,123,000

Uruguay (31 October 2016: 2.43%)
Government Bonds

Total Uruguay
Venezuela (31 October 2016: 2.27%)
Corporate Bonds
USD 19,709,600

Petroleos de Venezuela SA
5.375% 12/04/2027^

5,647

0.07

USD

Petroleos de Venezuela SA 5.5%
12/04/2037^

2,462

0.03

USD 33,216,000

Petroleos de Venezuela SA 6%
16/05/2024

9,383

0.11

USD 31,362,658

Petroleos de Venezuela SA 6%
15/11/2026

8,625

0.11

USD 21,800,000

Petroleos de Venezuela SA 8.5%
27/10/2020

13,5130.16

USD 15,393,204

Petroleos de Venezuela SA 9%
17/11/2021

6,754

0.08

USD 21,458,709

Petroleos de Venezuela SA 9.75%
17/05/2035

7,725

0.09

USD 20,952,000

Petroleos de Venezuela SA
12.75% 17/02/2022

9,449

0.12

7,091,000

Venezuela Government
International Bond 6% 09/12/2020

2,765

0.03

8,563,400

USD 13,688,000

Turkey Government International
Bond 7% 05/06/2020

USD

2,458,000

Turkey Government International
Bond 7% 05/06/2020

USD

2,717,000

Turkey Government International
Bond 7.25% 05/03/2038

3,124

0.04

USD

USD 20,328,000

Turkey Government International
Bond 7.375% 05/02/2025

23,3520.28

USD1,802,000

USD 10,291,000

Turkey Government International
Bond 8% 14/02/2034

Venezuela Government
International Bond 6% 09/12/2020

703

0.01

12,5550.15

USD

6,996,000

Venezuela Government
International Bond 7% 31/03/2038

2,239

0.03

12,4010.15

350,796

4.24

USD

7,975,000

Turkey Government International
Bond 11.875% 15/01/2030
Total Turkey

2,661

0.03

Government Bonds－ 84 －

５．iシェアーズ J.P.モルガン・米ドル建てエマージング・マーケット債券 UCITS ETF

As at 31 October 2017

Ccy

Holding

Investment

Fair value$'000% of net
asset
value
Cash†

Bonds (31 October 2016: 98.61%) (cont)

Fair value$'000% of net
asset
value

114,009

1.38

33,5600.40

8,279,119100.00Venezuela (31 October 2016: 2.27%) (cont)
Government Bonds (cont)
USD

Other net assets

9,556,000

Venezuela Government
International Bond 7.65%
21/04/2025

3,130

0.04

USD 15,568,000

Venezuela Government
International Bond 8.25%
13/10/2024

5,176

0.06

Venezuela Government
International Bond 8.25%
13/10/2024

116

0.00

USD

350,000

USD 13,104,400

Venezuela Government
International Bond 9% 07/05/2023

4,423

0.05

USD 29,019,000

Venezuela Government
International Bond 9.25%
15/09/2027

10,6650.13

USD 12,679,300

Venezuela Government
International Bond 9.25%
07/05/2028

4,184

0.05

USD

972,000

Venezuela Government
International Bond 9.25%
07/05/2028

321

0.00

USD

9,721,000

Venezuela Government
International Bond 9.375%
13/01/2034

3,281

0.04

USD 19,561,100

Venezuela Government
International Bond 11.75%
21/10/2026

7,971

0.10

USD 29,236,800

Venezuela Government
International Bond 11.95%
05/08/2031

11,6650.14

USD 20,317,200

Venezuela Government
International Bond 12.75%
23/08/2022

8,867

0.11

129,064

1.56

Total Venezuela

Net asset value attributable toredeemable participating
shareholders at the end of thefinancial year

† Substantially all cash positions are held with State Street Bank and Trust Company. Cash collateral and cash

collateral payable in respect of securities lending transactions is held by the Fund's Depositary (or through itsdelegates).
^ These securities are partially or fully transferred as securities lent.

Vietnam (31 October 2016: 0.24%)
Government Bonds
USD 17,487,000

Vietnam Government International
Bond 4.8% 19/11/2024^

18,7370.23

Total Vietnam

18,737

0.23

Zambia (31 October 2016: 0.56%)
Government Bonds
USD 17,766,000

Zambia Government International
Bond 8.5% 14/04/2024^

19,0100.23

USD 19,373,000

Zambia Government International
Bond 8.97% 30/07/2027

21,0680.26

USD

Zambia Government International
Bond 8.97% 30/07/2027

4,738,000

5,152

0.06

Total Zambia

45,2300.55

Total bonds

8,131,550

98.22

Total value of investments

8,131,550

98.22－ 85 －

６．iシェアーズ 米国不動産 ETF■損益計算書Year ended March 31, 2018
iShares U.S.
Real Estate
ETF

NET INVESTMENT INCOME
Dividends — unaffiliated$135,433,634

Dividends — affiliated56,204

Interest — unaffiliated1,423
791,937

Securities lending income — affiliated — net
Total investment income

136,283,198

EXPENSES
Investment advisory fees

18,107,904

Proxy fees

107,528

Total expenses

18,215,432

Net investment income

118,067,766

NET REALIZED AND UNREALIZED GAIN (LOSS)
Net realized gain (loss) from:
Investments — unaffiliated(126,542,874)

Investments — affiliated(4,246)In-kind redemptions — unaffiliated238,464,427

In-kind redemptions — affiliated―Futures contracts(1,420,837)

Net realized gain (loss)

110,496,470

Net change in unrealized appreciation/depreciation on:
Investments — unaffiliated(232,349,229)

Investments — affiliated(92,237)
48,284

Futures contracts
Net change in unrealized appreciation/depreciation(232,393,182)

Net realized and unrealized gain (loss)(121,896,712)

NET INCREASE (DECREASE) IN NET ASSETS RESULTINGFROM OPERATIONS$ (3,828,946)－ 86 －

６．iシェアーズ 米国不動産 ETF■組入上位10銘柄

TEN LARGEST FUND HOLDINGSAs of 3/31/18
Security
American Tower Corp.

Percentage ofTotal Investments*
6.47%

Simon Property Group Inc.

4.85

Crown Castle International Corp.

4.59

Prologis Inc.

3.39

Equinix Inc.

3.34

Public Storage

3.03

Weyerhaeuser Co.

2.67

AvalonBay Communities Inc.

2.29

Equity Residential

2.29

Digital Realty Trust Inc.

2.19

TOTAL

35.11%* Excludes money market funds.

－ 87 －

７．iシェアーズ S&P GSCI コモディティ・インデックス・トラスト■損益計算書For the year ended December 31, 2017
Year Ended
December 31,
2017

Investment Income
Interest
Total investment income$ 9,707,419
9,707,419

ExpensesSponsor’s fees
Brokerage commissions and fees
Total expenses
Net investment loss

8,530,039
1,337,872
9,867,911(160,492)

Net Realized and Unrealized Gain (Loss)
Net realized gain (loss) from:
Short-term investments
Futures contracts
Net realized gain (loss)
Net change in unrealized appreciation/depreciation on:
Short-term investments
Futures contracts
Net change in unrealized appreciation/depreciation
Net realized and unrealized gain (loss)
Net increase (decrease) in net assets resulting from operations(59,334)
77,224,746
77,165,412
80,579,108$80,418,616

Net increase (decrease) in net assets per Share$1.05－ 88 －

2,812
3,410,884
3,413,696

７．iシェアーズ S&P GSCI コモディティ・インデックス・トラスト■組入銘柄

At December 31, 2017

Security Description

Face Amount

Fair Value

U.S. Treasury bills(a)(b):
1.17% – 1.20% due 01/04/18$116,000,000$115,992,693

1.11% – 1.21% due 01/18/18

144,000,000

143,920,719

1.20% due 01/25/18

142,000,000

141,888,412

1.15% due 02/01/18

434,500,000

434,041,811

1.31% due 03/08/18

509,000,000

507,811,007

Total U.S. Treasury bills (Cost: $1,343,671,164)

1,343,654,642

Total Investments – 96.43%

1,343,654,642
49,754,123

Other Assets, Less Liabilities – 3.57%
Net Assets – 100.00%(a)(b)$1,393,408,765

A portion of the above United States Treasury bills are posted as margin for the Trust’s Index Futures positions as described in Note 2D.
Rates shown are discount rates paid at the time of purchase.

As of December 31, 2017, the open S&P GSCI-ER futures contracts were as follows:

Number of Contracts

Expiration Date

Current Notional
AmountNet Unrealized
Appreciation(Depreciation)

56,905

March 2018

$1,388,834,811$74,398,485－ 89 －